Chapter 1

Introduction to Microeconomics

Definition and Scope of Economics

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Micro vs Macro Economics

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Central problems of an economy

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Production Possibility Curve (PPC)

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Opportunity Cost

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Chapter 2

Consumer's Equilibrium and Demand

Utility concept and Marginal Utility

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Law of Diminishing Marginal Utility

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Indifference Curve Analysis

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Consumer's Equilibrium (Cardinal and Ordinal)

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Demand and Determinants of Demand

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Chapter 3

Elasticity of Demand

Price Elasticity of Demand meaning

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Degrees of Price Elasticity

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Measurement of Price Elasticity (Percentage method)

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Measurement of Price Elasticity (Geometric method)

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Factors affecting Elasticity of Demand

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Chapter 4

Producer Behavior and Supply

Production Function (Short and Long Run)

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Law of Variable Proportions

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Returns to Scale

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Concepts of Cost (Fixed, Variable, Total, Marginal)

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Supply and Elasticity of Supply

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Chapter 5

Forms of Market and Price Determination

Perfect Competition features

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Monopoly features

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Monopolistic Competition features

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Oligopoly features

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Price determination under perfect competition

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Chapter 6

Introduction to Statistics

Meaning and Importance of Statistics

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Collection of Data (Primary/Secondary)

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Census and Sample Survey

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Organisation of Data

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Tabular Presentation

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Chapter 7

Diagrammatic and Graphic Presentation

Bar Diagrams

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Pie Diagrams

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Histograms

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Polygon and Ogive

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Time Series Graphs

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Chapter 8

Measures of Central Tendency

Arithmetic Mean (Simple and Weighted)

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Median

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Mode

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Relationship between Mean, Median, Mode

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Partition Values (Quartiles)

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Chapter 9

Measures of Dispersion

Range and Quartile Deviation

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Mean Deviation

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Standard Deviation

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Coefficient of Variation

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Lorenz Curve

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Chapter 10

Correlation and Index Numbers

Meaning and types of Correlation

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Karl Pearson's method

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Spearman's Rank Correlation

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Meaning and uses of Index Numbers

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Construction of Price Index Numbers

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