Indian Institute of Management Rohtak

Course Outline

Course Title : Microeconomics-I

Credits : 1 (20 Sessions)
Type : Compulsory
Session Duration : 75 minutes
Term : I
Year : 2022
Faculty : Dr. Neha Gupta
_______________________________________________________________________

Introduction
The objective of this course is to provide an understanding and knowledge of basic
microeconomics. The students would be acquainted with internal and environmental
factors affecting consumer and producer decision making processeses with the help of
real life examples. The course will also introduce the students to the basic market
structures.

Course Objectives
The specific objectives of the course are:
1) To understand how consumers’ make decisions
2) To understand the producers’ make decision
3) To understand the competitive market framework
4) To under other market structures

Pedagogy
The pedagogy would be a mix of lectures, discussion, problem exercises in class,
assignments, quizzes, mid term and end term.

Evaluation Scheme
Class Participation 10 %
Quizzes 20 %
Mid Term Exam 30 %
End term Exam 40 %

Brief Outline
Consumer Theory, Producer Theory, Competitive Market, Market Interventions, Demand
and supply elasticities, Monopoly, Price Discrimination, Basic Game Theory, Oligipoly
models.

1
 Main textbook

Mankiw, N. G. (2015). Principles of Microeconomics. 7th ed. Cengage Learning India

Pvt. Ltd (Hereafter M).

Other References

Salvatore, D. (2009). Principles of Microeconomics. 5th ed. Oxford University Press.

Session Plan
S.No. Session Topic and Sub-topics Reference Case / Exercise /
No. (Book chapter / Assignment
Page numbers
from the
book/Additional
readings)
1. 1 Themes/Principles of (M, Ch-1)
Microeconomics

Session Objective: How

principles of
microeconomics make
sense of the world
2. 2-3 Demand and Supply (M, Ch-4)
Analysis, Equilibrium and
Stability of Equilibrium

Session Objective: What

affects demand and supply
of various classes of
goods. How an equilibrium
is reached under different
conditions
3. 4 Elasticity of Demand and (M, Ch-5)
Supply

Session Objective:
Measuring the changes in
the markets and its impact
on demand and supply
4. 5-7 Consumer Behavior (M, Ch-21)

Session Objective: To
understand various aspects
of consumer behavior
5. 8 Market Demand and (M, Ch-21, Ch-

2
 Consumer Surplus 7)

Session Objective: How

consumers match scarce
resources with unlimited
wants
6. 9-10 Theory of Production (M, Ch-13)

Session Objective: Basic

concepts related to
production choices

The Course will not tolerate plagiarism, copying or active or passive collaboration in this type of dishonest
behavior in papers written by our students. This penalty for plagiarism will be immediate failure of the
course. Furthermore, the Institute will initiate proceedings against the student that could lead to his/her
expulsion from the programme.