Lovely Professional University, Punjab

Course Code

Course Title

Course Planner

Lectures

ECO111

MICRO ECONOMICS

12526::Pooja Kansra

Course Category

Courses with conceptual focus

4.0

Tutorials Practicals Credits

1.0

0.0

5.0

TextBooks
Sr No

Title

Author

Edition

Year

Publisher Name

T-1

Microeconomics Theory and

Applications

D.N. Dwivedi

2nd

2012

Pearson

Reference Books
Sr No

Title

Author

Edition

Year

Publisher Name

R-1

Managerial Economics

Damodaran, Suma

1st

2010

Oxford University Press

R-2

Managerial Economics: An integrative Hirshey, Mark

approach

1st

2009

Cengage Learning

R-3

Advanced Economic Theory. Micro

Economic Analysis

1st

2011

S. Chand

Auja H.L

Other Reading
Sr No

Journals articles as Compulsary reading (specific articles, complete reference)

OR-1

Kwang Ng,Yew,Why Is a Financial Crisis Important? The Significance of the Relaxation of the Assumption of Perfect Competition,International Journal of
Business and Economics,2009,Vol.8,No.2,91-114 ,

OR-2

Roman Indrest and Tommasso Valletti,Price Discrimination in input markets,The Rand Journal of Economics,Vol. 40,No.1,Spring 2009,1-19 ,

OR-3

Cordtz,Dan,Car wars: A global report on Auto Industry,FInancial World,August 22,1989;158,17;ABI/INFORM Global ,

OR-4

S.k.Mishra,A Brief History of Production Functions,The IUP Journal of Managerial Economics,November,2010,Vol. VIII,No. 4,pp.6-34 ,

OR-5

Monika Jain,Paradox of Plenty,with Special Reference to Inelastic Demand for Apples,The IUP Journal of Managerial Economics,May,2011,Vol. IX,No. 2,pp.4455 ,

OR-6

Cathy Locke Bee Staff Writer. The Sacramento Bee ,"EID report reveals household water use on rise An analysis of supply, demand recommends holding off on
meters" http://search.proquest.com/docview/246565304?accountid=80692 ,

OR-7

Yeung; Vincent Mok,Regional monopoly and interregional and intraregional competition :The parallel trade in coca cola between shanghai and Hangzhou in
China,Economic Geography; Jan 2006; 82, 1; ABI/INFORM Global,pp.89-109 ,

Relevant Websites
Sr No

(Web address) (only if relevant to the course)

Salient Features

RW-1

www.bloomberg.co.uk

Excellent data on crrent market, economic, industrial and financial trends

as a valuable sources of reference

RW-2

www.mit.edu

Valuable source of reference for basic and advanced concepts of

economics.

RW-3

www.economics-ejournal.org

Various Policy Papers on economics

RW-4

http://kalyan-city.blogspot.com/2009/08/demand-price-law-ofdemanddeterminants.html

An excellent source of basic knowledge of law of demand and elasticity

of demand

RW-5

http://www.amosweb.com/cgi-bin/awb_nav.pl? s=wpd&c=dsp&k=short-run
+production+analysis

Information about short run production analysis

RW-6

www.worldbank.org

Global Current Development Papers

LTP week distribution: (LTP Weeks)

Weeks before MTE

Weeks After MTE

Spill Over

Detailed Plan For Lectures

Week
Number

Lecture
Number

Broad Topic(Sub Topic)

Week 1

Lecture 1

Introduction to Economics(Wealth
and Scarcity views on economics)

T-1:Ch-1

Definition of economics To understand the

Discussion
definition of wealth and
scarcity

Introduction to Economics(Positive
and Normative economics
definition)

T-1:Ch-1

Positive and normative

economics

Introduction to Economics(Scope
and Importance of business
economics concepts)

T-1:Ch-1

Relevance of economics To know about scope of Discussion

micro economics

Introduction to Economics(Uses
and Limitations of Microeconomic
Thoeries)

T-1:Ch-1

RW-1

Importance
and limitations of
economics

Demand and Supply Analysis(Law

of demand)

T-1:Ch-3

RW-2
RW-4

Introduction to Demand, To know law

demand curve and
of demand
schedule, determinants
of demands

Discussion

Demand and Supply Analysis(Shift

and movement in the demand
curve)

T-1:Ch-3

Difference between shift To know

and movement in
the factor affecting
demand curve
demand curve

Case study

Demand and Supply Analysis(Law

of supply: shift and movements)

T-1:Ch-3

Introduction,supply
schedule,supply curve

To understand the
supply curve

Power point
presentations

Demand and Supply Analysis

(Determinant of supply and supply
function)

T-1:Ch-3

Factor affecting supply

To know the
Power point
determinants of supply presentations

Lecture 2

Lecture 3

Chapters/Sections
of Text/reference
books

Other Readings, Lecture Description

Relevant
Websites, Audio
Visual Aids,
software and
Virtual Labs

OR-6

Learning Outcomes

Pedagogical Tool
Demonstration/ Case
Study / Images /
animation / ppt etc.
Planned

To learn about
Discussion
positive and normative
economic analysis

To know about uses of

economics in
management

Discussion

Week 1

Week 2

Week 3

Lecture 3

Demand and Supply Analysis

(Market Equilibrium)

T-1:Ch-3

RW-1

Equilibrium between
demand and Supply

To know the economic Power point

relation between
presentations
demand and supply

Lecture 4

Demand and Supply Analysis

(Elasticity of demand)

T-1:Ch-4

RW-4

Introduction to price
elasticity and its
methods

To know the elasticity

of demand

Power point
presentations

Demand and Supply Analysis

(Price, income and cross elasticity
of demand)

T-1:Ch-4

OR-5

Introduction to income
and cross elasticity

To know the elasticity

of demand

Power point
presentations

Lecture 5

Demand and Supply Analysis

(Managerial applications)

T-1:Ch-4
R-1:Ch-3
R-2:Ch-4

Importance of elasticity
for a manager

To know the relevance Discussion

of elasticity in present
business world

Lecture 6

Consumer preferences and choice

(Utility ,Cardinal and Ordinal
Concepts)

T-1:Ch-6

Introduction to cardinal
utility and law of
diminishing marginal
utility

To know the basics of

utility analysis

Lecture 7

Consumer preferences and choice

(Indifference Curve and its
applications)

T-1:Ch-7

Lecture 8

Consumer preferences and choice

(Special types of indifference
curve)

Introduction to
To know the
indifference curve , MRS indifference curve
analysis

Power point
presentations

T-1:Ch-8

Special types of
indifference curve

Power point
presentations

Consumer preferences and choice

(Budget Constraints)

T-1:Ch-8

Lecture 8 Meaning of
To know about the
Power point
budget line, shift of
basic concept of budget presentations
budget line
line
Lecture 9 can be used as
a contingency lecture

Lecture 10

Consumer preferences and choice

(Consumer decision making)

T-1:Ch-8

Consumer equilbruim

To know
consumer equilbruim

Lecture 11

Consumer preferences and choice

(Price, income and Substitution
effect)

T-1:Ch-8

Price , income and

Substution effect

To know Price, income Power point

and Substitution effect presentations

Consumer preferences and choice

(Optimal consumption)

T-1:Ch-8

Optimal combination by To know optimum

using indifference curve level of consumption
and budget line

Power point
presentations

Consumer preferences and choice

(Consumer surplus)

T-1:Ch-8

Meaning and relevance

of consumer surplus

To know the
consumer surplus

Power point
presentations

Production Theory(Introduction to
production function)

T-1:Ch-11

Meaning and Types of

production function

To know about basic

concept of production

Power point
presentations

Lecture 9

Consumer preferences and choice

(Budget Constraints)

T-1:Ch-8

Lecture 8 Meaning of
To know about the
Power point
budget line, shift of
basic concept of budget presentations
budget line
line
Lecture 9 can be used as
a contingency lecture

Lecture 13

Production Theory(Types of
inputs)

T-1:Ch-11

Types of inputs in short

and long run peorid

Lecture 12

Week 4

RW-3

Power point
presentations

RW-5

To know about the

different types of ICs

To know factor inputs

Discussion

Discussion

Week 4

Lecture 13

Production Theory(Total, Marginal

and Average Product)

T-1:Ch-11

Lecture 14

Production Theory(Production
Function with one variable and
more than one variable)

T-1:Ch-12

Production Theory(Isocost lines)

T-1:Ch-12

Production Theory(Isoquants)

T-1:Ch-12

Introduction to isoquants, To know about

MRTS
Isoquants

Power point
presentations

Production Theory(Input
combination choice)

T-1:Ch-12

Producer equilbruim

To know about how

producer Equilbruim

Power point
presentations

Lecture 15

Difference between
marginal and average
product and their
relevance

To know the TP, AP

and MP

RW-3

Law of variable
proportion

To know about the law Power point

of variable proprotion presentations

OR-4

Relevance of isocost line To know the concept of Power point

isocost line
presentations

Lecture 16
Week 5

Week 6

Week 7

Power point
presentations

Quiz,Test,Case study 1

Lecture 17

Production Theory(Expansion path

applications)

T-1:Ch-12

Change in Isocost line

due to change income
and change in price of
factor inputs

To know
the expansion path

Power point
presentations

Lecture 18

Production Theory(Return to factor

and Return to scale)

T-1:Ch-12

Difference between
returns to factor and
scale

To know the return to

factor and return to
scale

Power point
presentations

Lecture 19

Production Theory(Productivity
measurement)

T-1:Ch-12

Productivity
measurement

To know productivity
measurement

Power point
presentations

Lecture 20

Economic concept of cost(Kinds of

costs)

T-1:Ch-14

Types of costs in short

run and long run

To know about various Power point

types of cost
presentations

Lecture 21

Economic concept of cost

(Difference between cost in
accounting and economics)

T-1:Ch-14

Distinguish between
To know about how
Power point
economic and accounting cost can be
presentations
cost
differentiated on the
basis of economics and
accounts

Economic concept of cost(Cost of

joint products)

T-1:Ch-14
R-2:Ch-8

Cost of joint products

To know the cost

Power point
structure in case of joint presentations
products

Lecture 22

Economic concept of cost(Average

and Marginal concepts in Cost in
long and short run)

T-1:Ch-14

Costs in Short run and

Long run

To know the
relationship between
average and marginal
cost

Lecture 23

Economic concept of cost(Break

even analysis)

T-1:Ch-14

Lecture 23 Break even

To know the break even Discussion
analysis and its relevance analysis
Lecture 24 applications
of Break even analysis

Lecture 24

Economic concept of cost(Break

even analysis)

T-1:Ch-14

Lecture 23 Break even

To know the break even Discussion
analysis and its relevance analysis
Lecture 24 applications
of Break even analysis

Lecture 25

Economic concept of cost

(Relationship between average cost
curves- Long Run and Short Run)

T-1:Ch-14

Relation between short

run and long run costs

RW-2

To know about cost

curve behavior in long
and short run

Power point
presentations

Power point
presentations

Week 7

Lecture 26

Economic concept of cost(Linkage

between cost,revenue and output
through optimization)

T-1:Ch-14

Lecture 26
To know the
relation between revenue relationship between
and cost
cost and revenue

Power point
presentations

Lecture 27 can be used

as a contingency lecture
Lecture 27

Economic concept of cost(Linkage

between cost,revenue and output
through optimization)

T-1:Ch-14

Lecture 26
To know the
relation between revenue relationship between
and cost
cost and revenue

Power point
presentations

Lecture 27 can be used

as a contingency lecture

Lecture 28

Economic concept of cost

(Economies and diseconomies of
Scale)

T-1:Ch-14

Distinguish between
economies and dis
economies of scale

To know about benefits Power point

of large scale
presentations
production

Economic concept of cost

(Economies of scope)

T-1:Ch-14

Economies of scope

To know about benefits Power point

of producing joint
presentations
products

Economic concept of cost(Cost and

learning curves)

T-1:Ch-14

RW-6

Cost and learning curves To know the role of

learning curves in
managerial decions

Power point
presentations

MID-TERM
Week 8

Week 9

Lecture 29

Market structure(Perfect
competition: Introduction, and
features)

T-1:Ch-16

OR-5

Perfect competition
Introduction, and
features

To know the perfect

competition and its
features

Power point
presentations

Lecture 30

Market structure(Perfect
competition: Introduction, and
features)

T-1:Ch-16

OR-5

Perfect competition
Introduction, and
features

To know the perfect

competition and its
features

Power point
presentations

Lecture 31

Market structure(Demand curve of

firm and industry under perfect
competition)

T-1:Ch-16

RW-6

Demand curve of firm

and industry under
perfect competition

To know the demand

curve under firm and
industry under perfect
competition

Power point
presentations

Lecture 32

Market structure(Short run and

long run equilibrium)

T-1:Ch-16

Short run and long run

equilibrium

To know about
equilibrium under
perfect competition

Power point
presentations

Lecture 33

Market structure(Present market

scenario and perfect competition)

T-1:Ch-16

Present market scenario

and perfect competition

To know about how

perfect market exist in
real world

Case study

Lecture 34

Revenue Analysis(Revenue
Curves)

T-1:Ch-17

Revenue Curves

To know the basics of

reveue curves

Power point
presentations

Lecture 35

Revenue Analysis(Relationship
between Revenue curves)

R-3:Ch-6

Relationship between
To know the
Revenue curves AR and relationship between
MR
AR and MR

Power point
presentations

Week 9

Lecture 36

Monopoly(Introduction and
features)

T-1:Ch-17
R-3:Ch-32

Lecture36 Introduction
and features of
Monopoly

To know about basic

concept of monopoly

Power point
presentations

To know about basic

concept of monopoly

Power point
presentations

Lecture 37 can be used

as a contingency lecture
Week 10

Lecture 37

Monopoly(Introduction and
features)

T-1:Ch-17
R-3:Ch-32

Lecture36 Introduction
and features of
Monopoly
Lecture 37 can be used
as a contingency lecture

Lecture 38

Monopoly(Types of monopoly)

T-1:Ch-17
R-3:Ch-32

Types of monopoly

To know the different

types of monopoly

Power point
presentations

Monopoly(Price and output

determination in short run and long
run)

T-1:Ch-17

Price and output

determination in short
run and long run

To know about
monopoly price and
output determine in
long and short run

Case study

Monopoly(Price discrimination)

T-1:Ch-17

Price discrimination

To know about why and Power point

how price
presentations
discrimination is used
in market

Monopoly(Demand and marginal

revenue of monopolist)

T-1:Ch-17

Demand and marginal

revenue of monopolist

To know about how

Power point
marginal revenue curve presentations
behaves in market

Monopoly(Supply curve under

monopoly)

T-1:Ch-17

Supply curve under

monopoly

To know
supply curve of
monopoly is different
from other markets

Lecture 40

Monopoly(Price and output

decisions under discriminating
monopoly)

T-1:Ch-17

Lecture 41

Monopoly(Economic inefficiency
of monopoly)

Lecture 42

Monopolistic Competition(Role of
advertising in monopolistic
competition)

Lecture 39

Week 11

OR-2

OR-7

Power point
presentations

Price and output

To know the price
decisions under
determination under
discriminating monopoly discriminating
monopoly

Power point
presentations

T-1:Ch-17

Economic inefficiency of To know the dead

monopoly
weight loss under
monopoly

Power point
presentations

T-1:Ch-18
R-3:Ch-36

Lecture 42 Role of
advertising in
monopolistic
competition

Power point
presentations

Lecture 43 can be used

as a contingency lecture

To know the role of

advertisement in
business

Week 11

Lecture 43

Monopolistic Competition(Role of
advertising in monopolistic
competition)

T-1:Ch-18
R-3:Ch-36

Lecture 42 Role of
advertising in
monopolistic
competition

To know the role of

advertisement in
business

Power point
presentations

Lecture 43 can be used

as a contingency lecture

Week 12

Lecture 44

Monopolistic Competition(Short
run and long run equilibrium)

T-1:Ch-18

Lecture 44 Short run

equilibrium
Lecture 45 Long run
equilbruim

To know the price

determination under
monopolistic
competition

Power point
presentations

Lecture 45

Monopolistic Competition(Short
run and long run equilibrium)

T-1:Ch-18

Lecture 44 Short run

equilibrium
Lecture 45 Long run
equilbruim

To know the price

determination under
monopolistic
competition

Power point
presentations

Lecture 46

Monopolistic Competition
(Introduction, features)

T-1:Ch-18

OR-3
RW-1

Features of monopolistic To know about basic

Case study
Competition
concept of monopolistic
competition

Lecture 47

Monopolistic Competition
(Introduction, features)

T-1:Ch-18

OR-3
RW-1

Features of monopolistic To know about basic

Case study
Competition
concept of monopolistic
competition

Lecture 48
Week 13

Week 14

Quiz,Test,Case study 3

Lecture 49

Monopolistic Competition
(Comparison between Perfect
competition, monopoly and
monopolistic competition)

T-1:Ch-19

Lecture 49 Difference
between Perfect
competition, monopoy
Lecture 50 can be used
as contingency lecture

To know the difference Power point

between monopoly,
presentations
perfect competition and
monopolistic
competition

Lecture 50

Monopolistic Competition
(Comparison between Perfect
competition, monopoly and
monopolistic competition)

T-1:Ch-19

Lecture 49 Difference
between Perfect
competition, monopoy
Lecture 50 can be used
as contingency lecture

To know the difference Power point

between monopoly,
presentations
perfect competition and
monopolistic
competition

Lecture 51

Oligopoly(Introduction and
Features)

T-1:Ch-19

Lecture 51 Introduction
to oligopoly and its
Features
Lecture 52 can be used
as a contingency lecture

To know opoly the

basics of olig

Case study

Lecture 52

Oligopoly(Introduction and
Features)

T-1:Ch-19

Lecture 51 Introduction
to oligopoly and its
Features
Lecture 52 can be used
as a contingency lecture

To know opoly the

basics of olig

Case study

Lecture 53

Oligopoly(Collusive oligopoly)

T-1:Ch-19
R-3:Ch-40

Collusive oligopoly

To know the role and

relevance of collusion
under oligopoly

Power point
presentations

Lecture 54

Oligopoly(Kinked demand curve

model)

T-1:Ch-19

Kinked demand curve

model

To know the demand

curve under oligopoly

Power point
presentations

Week 14

Lecture 55

Oligopoly(Price leadership)

T-1:Ch-19

Lecture 55 Price
leadership
lecture 56 contingency
lecture

To know price
determination under
collusion

Power point
presentations

Lecture 56

Oligopoly(Price leadership)

T-1:Ch-19

Lecture 55 Price
leadership
lecture 56 contingency
lecture

To know price
determination under
collusion

Power point
presentations

SPILL OVER
Week 15

Lecture 57

Spill Over

Lecture 58

Spill Over

Lecture 59

Spill Over

Lecture 60

Spill Over

Scheme for CA:

Component

Frequency

Quiz,Test,Case study

Out Of
2

Each Marks Total Marks

3

Total :-

10

20

10

20

Details of Academic Task(s)

AT No.

Objective

Topic of the Academic Task

Nature of Academic Task

(group/individuals/field
work

Evaluation Mode

Allottment /
submission Week

Case study 1

To enhance the
Demand , supply, elasticity, production function, market
conceptual
formation
understanding of
students and enable
them to correlate
theoretical concepts
with real life issues.

Group

student will be
divided into group
of 3 to 5 students
and each student
will provide unique
soliution of the
problem and the
presentation will be
given in group.

5 / 13

Quiz 1

To check the
knowledge and
learning of the
students

Production Theory, Economic concept of cost, Perfect

competition,Market structure,Monopoly, Monopolistic,
Oligopoly.

Individual

Quiz consists of 25
questions, and time
duration is of 30
minutes.

11 / 12

Quiz,Test,Case
study 1

To enhance the
conceptual
understanding of
students.

Basic Concepts and Principles, Demand and Supply Analysis,

Elasticity, Consumer preferences and choice through cardinal
analysis

Individual

Students will be
required to attempt
a test of 45 minutes
duration comprising
6 questions of 5
marks each.

3/4

Plan for Tutorial: (Please do not use these time slots for syllabus coverage)
Tutorial No.

Lecture Topic

Type of pedagogical tool(s) planned

(case analysis,problem solving test,role play,business game etc)

Tutorial 1

Relevance of economics for a Management student

Discussion

Tutorial 2

Demand and Supply analysis

Case analysis

Tutorial 3

Role of Elasticity in Business

Discussion

Tutorial 4

Utility analysis

Discussion

Tutorial 5

Production function

Case analysis,Discussion

Tutorial 6

Cost analysis

Discussion

Tutorial 7

Revision

Case analysis,Problem solving

Tutorial 8

Case Base Presentation

Case analysis,Problem solving

Tutorial 9

Case Base Presentation

Case analysis,Problem solving

Tutorial 10

Case Base Presentation

Case analysis,Problem solving

Tutorial 11

Case Base Presentation

Case analysis,Problem solving

Tutorial 12

Case Base Presentation

Case analysis,Problem solving

Tutorial 13

Case Base Presentation

Case analysis,Problem solving

Tutorial 14

Case Base Presentation

Case analysis,Problem solving

After Mid-Term