Table of Content

1. Introduction to Microeconomics
2. The Economy: Its basic problems and working system
3. The Market forces Demand and Supply
4. Elasticity of Demand and Supply
5. Application of Market Laws and Elasticity
6. Theory of Consumer Demand: Cardinal Utility Approach
7. Theory of Consumer Demand: Ordinal Utility Approach
8. Application Indifference Curve Analysis
9. Revealed Preference Theory
10. Consumer Surplus
11. Theory of Production: Laws of Returns to Variable Input
12. Theory of Production: Laws of returns to a Variable Input
13. Optimim Combinations of Inputs
14. Theory of Costs
15. The Objectives of Business Firms and their market Powers
16. Price and Output Determination under Perfect Competition
17. Price and Output Determination under Monopoly
18. Price and Output Determination under Monopolistic Competition
19. Price and Output Determine Oligopoly
20. The Factor Market: Factor Demand and Supply
21. Wage Determination under Perfect Competitions
22. Wage and Employment Determination under Imperfect Competition
23. Theory of Rent
24. Theories of Interest and Investment Decisions
25. Theories of profit
26. Product Exhaustion Theorem
27. General Equilibrium Analysis
28. Welfare Economics: Pareto Optimality
29. New Welfare Economics
30. Market Failures and Public Goods

Salient Features

• Complex theories are explained with self-explanatory diagrams
• Real examples are given to explain microeconomic theories
• Plenty of numerical examples
• Each chapter begins with learning objectives
• Questions of various universities are given at the end of each chapter