Lovely Professional University, Punjab

FORMAT FOR INSTRUCTION PLAN (for Courses with Lectures with or without Labs)
Term: _____Ist_______
Course No. ___ECO111______ Course Title: _ Microeconomics_____________ L: 4__ T: 1_ P: _0_ Cr__5

Textbook: 1. Geetika, Ghosh Piyali, Purba Roy Choudhury, Managerial Economics, Tata McGraw Hill, New Delhi, 2008
Other specific books: 2 Ahuja, H.L,”Modern Microeconomics Theory and Applications,” Sultan Chand ,2008
3. Sen, A. , Microeconomics : Theory and Applications, Oxford University Press, New Delhi, 2007
4. Varian, H. , Microeconomic Analysis, W.W. Norton, New York.2007
5. Samuelson, P.A. and W.D. Nordhaus (1998), Economics, Tata McGraw Hill, New Delhi 2008
6. Kreps, David M., A Course in Microeconomic Theory, Princeton University Press, Princeton.,2008
7. Layard, P.R.G. and A.W. Walters, Microeconomic Theory, McGraw Hill, New York, 2007

Other readings:
S.No. Journal articles as compulsory readings (Specific articles, Complete reference)
8 Advances in Human Resources Dec 2008 Vol 10 Richard A.Sawanson ‘Economic Foundation of Human Resource
Development: Advancing the theory and practice of the Discipline’
9 Indian Journal of Labour Economics October-December 2008 Vol 51 Ajit K. Ghose ‘ Globalisation and employment in
Developing countries’
10 Economic and Political Weekly VOL 44 No. 06 February 07 - February 13, 2009   ‘Reviving the economy:Problems and
Prospects’
Relevant websites:
S.No. Web address (Exact page address) Salient Features
11 http://ocw.mit.edu/OcwWeb/Economics/14- An insight into Micro Economic theory Notes of MIT for undergraduate
01Fall- course.
2007/DownloadthisCourse/index.htm
12 http://economics.about.com/od/microeconomic Provide detail regarding the micro economic concept
s/Microeconomics_Resources.htm

13 http://www.economywatch.com/indianeconom An insight into the Indian economy.

y/
14 http://www.egwald.ca/economics/productionfu It provide detail regarding the use of cob Douglas function
nctions.php

15 http://economics.fundamentalfinance.com/micr It explain the concepts of cost and cost analysis

o_atc_mc.php

16 http://library.thinkquest.org/C004323/low/micr It explains the different forms of market

o2.html

17 http://www.jaytownley.com/the-bicycle- It provide the case study of perfect market

industry-competition

18 http://tutor2u.net/economics/content/topics/co It provide the detail regarding the perfect market in short and long run
mpetition/competition.htm

http://www.youtube.com/watch?
19 Videos on Cross elasticity of demand
v=blA5cFnq8Bw

http://www.youtube.com/watch? Videos on Income elasticity of demand

20
v=LHv4SnEUcZA&feature=related
 http://www.youtube.com/watch? Videos on monopolistic competition
21
v=WRQsug1e4V4&feature=related

http://www.youtube.com/watch? Videos on monopoly

22
v=qdRGUaTHVig&feature=PlayList&p=9598
583CA57C189D&playnext=1&playnext_from
=PL&index=29

http://www.youtube.com/watch?v=Eb7xkST Videos on oligopoly

23
HL4&feature=fvw

http://www.youtube.com/watch? Videos on perfect competition

24
v=7lhX78vlHSY&feature=related

Note : Serial no. of text book , other specific books , other readings and websites should be in continuity and can go to any
number, as illustrated in the format.
Week No. Lecture Topic Chapters/ Sections Homework/ Pedagogical tool Pedagogical tool Date
No. of Textbook/ other Task to be Demonstration/ Demonstration/ Delivered2
reference1 assigned to case study/ case study/ (Mention
students3 images/ images/ Regular
animations animations (R) / Make
etc.planned4 etc.actually used Up (M)
class)
Part 1 (one fourth of total number of lectures)
1. 1 Basic concepts and principles: Ch 1/1/11
Definitions and scope
2 Type of economic analysis; Ch 1/1/11
3 Managerial economics Ch 1/1/11
4 Economic principles relevant to Ch 1/1/11 Case study :
managerial decision. Power for All
myth or
reality
5 Demand: Law of Demand , Ch3/1/12 1
Shifts and movement;
exceptions of the law of
demand
6 Demand: Law of Demand , Ch3/1/12 Case study :
Shifts and movement; Pricing Game
exceptions of the law of by Game
demand Marketer
7 Demand: Law of Demand , Ch3/1/12
 Shifts and movement;
exceptions of the law of
demand
8 Law of supply: shift and Ch3/1/12
movements
9 Market Equilibrium between Ch3/1/12
demand and Supply, shifts in
the equilibrium
10 Elasticity of demand: Ch 5/ 1/12 Video(19 -20)
Introduction, Types: price,
income and cross, concepts and
measurement
11 Elasticity of demand: Ch 5/ 1/12
Introduction, Types: price,
income and cross, concepts and
measurement
12 Elasticity of demand: Ch 5/ 1/12 Case study:
Introduction, Types: price, Does Money
income and cross, concepts and Buys
measurement Happiness?
13 Elasticity of demand: Ch 5/ 1/12
Introduction, Types: price,
income and cross, concepts and
measurement
Part 2 ( another one fourth of total number of lectures)
14 Consumer preference and Ch 4/1/12 2
choice :UtilityAnalysis:
Cardinal utility analysis
15 Law of diminishing marginal Ch 4/1/12
 utility
16 Law of equi-marginal utility Ch 4/1/12
17 Consumer Equilibrium in Ch 4/1/12
utility analysis
18. Indifference curve analysis: Ch 4/1
Properties and Consumer
Equilibrium, Income, Price and
Substitution effects
19 Indifference curve analysis: Ch 4/1
Properties and Consumer
Equilibrium, Income, Price and
Substitution effects
20 Indifference curve analysis: Ch 4/1
Properties and Consumer
Equilibrium, Income, Price and
Substitution effects
21 Indifference curve analysis: Ch 4/1
Properties and Consumer
Equilibrium, Income, Price and
Substitution effects
22 Indifference curve analysis: Ch 4/1
Properties and Consumer
Equilibrium, Income, Price and
Substitution effects
Production Function: Law of
23 Ch 7/1/15 Case study :
variable proportion, Laws of
returns toscale, Isocosts and Automobile
Isoquants, Expansion Path industry in
india:New
Production
 Paradigm
24 Production Function: Law of Ch 7/1/15
variable proportion, Laws of
returns to scale, Isocosts and
Isoquants, Expansion Path
25 Production Function: Law of Ch 7/1/15
variable proportion, Laws of
returns to scale, Isocosts and
Isoquants, Expansion Path
26 Producer equilibrium Ch14/1/14.1-
14.2/15
MID TERM EXAM
Part 3 (another one fourth of total number of lectures)
27 Cost concepts: Introduction, Ch 8/1/15 Video (15)
kinds of cost, short and long
run cost, Linkage between cost,
revenue and output through
optimization, Economies of
Scale: Internal and External
28 Cost concepts: Introduction, Ch 8/1/15
kinds of cost, short and long
run cost, Linkage between cost,
revenue and output through
optimization, Economies of
Scale: Internal and External
29 Cost concepts: Introduction, Ch 8/1/15
kinds of cost, short and long
run cost, Linkage between cost,
revenue and output through
 optimization, Economies of
Scale: Internal and External
30 Cost concepts: Introduction, Ch 8/1/15
kinds of cost, short and long
run cost, Linkage between cost,
revenue and output through
optimization, Economies of
Scale: Internal and External
31 Perfect competition: Ch 9/1/18 3 Video (24)
Introduction, features, short run
& long run equilibrium. Perfect
competition: Existence in Real
World
32 Perfect competition: Ch 9/1/18 Case study :
Introduction, features, short run Indian Stock
& long run equilibrium. Perfect Market:does
competition: Existence in Real it explain
World perfect
competition
33 Perfect competition: Ch 9/1/18
Introduction, features, short run
& long run equilibrium. Perfect
competition: Existence in Real
World
34 Perfect competition: Ch 9/1/18
Introduction, features, short run
& long run equilibrium. Perfect
competition: Existence in Real
World
35 Monopoly: Introduction, types; Ch 10/1/16 Case study :
 price and output determination A case of
in short run & long run. Microsoft-
Economic inefficiency of Monopoly in
monopoly modern age
36 Monopoly: Introduction, types; Ch 10/1/16 Video (22)
price and output determination
in short run & long run.
Economic inefficiency of
monopoly
37 Monopoly: Introduction, types; Ch 10/1/16
price and output determination
in short run & long run.
Economic inefficiency of
monopoly
38 Monopoly: Introduction, types; Ch David Fights
price and output determination 18/1/18.4/1 Goliath: The
in short run & long run. 6 Nirma Story
Economic inefficiency of
monopoly
39 Monopoly: Introduction, types; Ch 10/1/16
price and output determination
in short run & long run.
Economic inefficiency of
monopoly
Part 4 (another one fourth of total number of lectures)
40 Monopolist Competition: Ch 11/1/16 The Indian
Introduction, features, short run Cement
& long run equilibrium, industry
monopolistic competition and :Riding the
advertising. High Tide
41 Monopolist Competition: Ch 11/1/16 Video (21)
Introduction, features, short run
& long run equilibrium,
monopolistic competition and
advertising.
42 Monopolist Competition: Ch 11/1/16
Introduction, features, short run
& long run equilibrium,
monopolistic competition and
advertising.
43 Monopolist Competition: Ch 11/1/16
Introduction, features, short run
& long run equilibrium,
monopolistic competition and
advertising.
44 Oligopoly: Features, Types, Ch 12/1/16 4 Video (23)
Kinked demand curve
45 Oligopoly: Features, Types, Ch 12/1/16
Kinked demand curve
46 Oligopoly: Features, Types, Ch 12/1/16
Kinked demand curve
47 Pricing Decisions: Cost based Ch 14/1
pricing
48 Pricing Decisions: Cost based Ch 14/1
pricing
49 Pricing based on firms’s Ch 14/1
objective
50 Pricing based on firms’s Ch 14/1
objective
 51 Competition based pricing Ch 14/1
52 Competition based pricing Ch 14/1

Detailed Plan for Lectures

Notes: 1. Use S. No. Of the readings above
2. To be filled in on the date of delivery of lecture by the instructor
3. Put homework number from Homework Table (below) against the lecture in which planned to be assigned (by co-
ordinator). The first homework should be planned for the 2 nd week of classes and the last should be assigned at least two
weeks before the last day of classes.
4. Do not write Lecture, OHP, LCD projector etc.
5. DoA : date of Allotment
6. DoS: date of submission
Details of Homework and Case Studies Planned:
Homework No. Topics of the homework Nature of Homework Actual DoA5 Actual DoS6 Actual date of
(Group/individual/fieldwork) task evaluation
1 Basic concepts of Microeconomics and economic Group
decision making (Case study attached)
2 Impact on consumer’s equilibrium of government Individual
expenditure, free lunch schemes, subsidies,
indirect taxes, etc.
3 Impact of government policies on cost and Individual
revenue structure of firms and industry.
4 What dimensions of managerial decision making Individual
will be influenced by the microeconomic concepts
of marginal utility, elasticity.
Term paper to be allotted by lecture no. (should be allotted before the end of 4 th week of teaching and should be
due at least two weeks before the last day of classes). The term paper should be evaluated before the last day of
classes and the marks communicated to the students
 All The detailed homework problems to be submitted attached as annexure
Scheme for CA: (out of 100)
Component Frequenc Marks for Total Marks
y each
3 best out 15 45
Homework based tests/quizzes List of suggested
of 4
1 25 25 topics for
Term paper term paper
2 15 30 [at least 15]
Quizzes
(Student to
Total 100 spend about
15 hrs on
any one specified homework)
S.No. Topic
1. Choose a product from each of the following categories and comment on the demand elasticity :
a) Food Items ----- Milk, Vegetables
b) Durable goods ------ Refrigerator
c) Medicines ------- Life saving drugs
d) Luxuries ------- Honda City
e) Fuels ---- Kerosene , Diesel and petrol
f) Entertainment Services ------- Cinema and Amusement parks
Support your answer with logic, data of prices and sales as available.
2 Prices of primary commodities and their impact on indian primary exports
3 Impact of increasing sugar prices on sugar demand in India.
4 Share market and its growth in india after LPG
5 Impact of expenditure on defence on the overall economy of India
6 Increasing cost of production in Punjab agriculture and its various returns
 7. Telecommunication Sector – A Case of Monopolistic Competition
8 Impact of Direct Tax on Consumer Equilibrium
9 Impact of Indirect Tax on Consumer Equilibrium
10 Measurement of Monopoly in Indian Railways
11 Price Discrimination: Optimum Utilisation of resources or way of market penetration
12 Decreasing Cost Industry and Business Process Outsourcing
13 Is Dumping Illegal?
14 OPEC - A form of Cartel
15 Measurement of monopoly in Indian car Industry

Plan for Tutorials : (Plan for 7 x T before MTE , 6 x T after MTE)

S. No. Topic (s) Type of pedagogical Pedagogical tool Date held for Date held for
tool(s) planned (case actually used – group A. group B
analysis, problem mention the title.
solving, test, role play, (case analysis,
business game etc) problem solving, test,
role play, business
game)
1. Basic terms of microeconomics Quiz
2. Understanding demand of products Problem Solving
quiz
3. Equilibrium price and quantity Problem Solving
quiz
4. Elasticity of demand, how can it be used by Class discussion
businesses?
5. Does money buy happiness : Utility analysis Case study analysis
6. Indifference curve analysis (IE , PE, SE) Situation Analysis
7. Current issues of economics Discussion
MID TERM EXAM
8. Cost and revenue model of fast food chain “ Mc Class discussion
Donalds”
9. Application of various firms to the type of market Business game
10. Perfect competition Test
11. Monopoly Problem solving quiz
12. Current issues of economics Discussion
13. Topics unclear to the student Problem solving

_______________________
Prepared by (Instruction Planner: Name, signature & date)
Comments of Coordinator of Specialisation (COS) wherever this designation exists/ CoD-F (if any)

Comments of HoD-F / HOF (if there is no HOD-F)

ture