Advanced Economic Theory

Part-I: Scope and Methodology of Economics
• Nature and Scope of Economic Theory • Micro and Macro-Economics • Methodology of Economics • Methodology of Economics: Economic Statics and Dynamics • Basic Mathematical Concepts and Optimisation Techniques

Part-II: Demand Analysis and Theory of Consumer's Choice
• Demand and Demand Function • Consumer's Behaviour: Cardinal Utility Analysis • Indifference Curve Analysis of Demand • Demand for Complementary and Substitute Goods • Marshallian Cardinal Utility Analysis vs. Indifference Curve Analysis • Applications and Uses of Indifference Curve • Revealed Preference Theory of Demand • Hicks' Logical Ordering Theory of Demand • Elasticity of Demand • Consumer Surplus • Attribute Approach to Consumer's Behaviour • Individual Choice Under Risk and Uncertainty

Part-III: Theory of Production and Cost Analysis
• Theory of Production: Returns to a Variable Factor • Production Function with Two Variable Inputs • Optimum Factor Combination • Cost Analysis • Linear Programming • Supply and its Elasticity

Part-IV: Price and Output Determination in Various Market Structures
• Market Structures and Concepts of Revenue for a Firm • Firm: A General Analysis of its Nature, Objectives and Equilibrium • Pricing in Competitive Markets: Demand-Supply Analysis • Applications of Demand and Supply Analysis • Equilibrium of the Firm and Industry under Perfect Competition • Comparative Static Analysis of Equilibrium and Long-Run Supply Curve of the Competitive Industry • Existence and Stability of Equilibrium under Perfect Competition • Kaldor and Sraffa on Incompatibility of Equilibrium with Perfect Competition • Price and Output Determination under Monopoly • Price Discrimination • Measurement of the Degree of Monopoly Power • Price and Output under Bilateral Monopoly • Price and Output Determination under Monopolistic Competition • A Critique of Chamberlin's Theory of Monopolistic Competition • A Critical Evaluation of Excess Capacity of Doctrine Monopolistic Competition Theory • Chamberlin's Monopolistic Competition vs. Joan Robinson's Imperfect Competition Theories • Price and Output Determination under Oligopoly • Classical Models of Oligopoly • Non-Price Competition: Selling Cost and Advertising • Cost-Plus (or Mark-up) Pricing Theory • Theory of Games and Strategic Behaviour • Sales Maximisation Model of Oligopoly Firm • Managerial Theories of the Firm: Marris and Williamson's Models • Behavioural Theory of the Firm: Satisficing Model • Theory of Limit Pricing • Government Policies Towards Monopoly and Competition

Part-V: Theory of Distribution (Pricing of Factors)
• Theory of Distribution: A General View • Neo-Classical Macro-Theory of Relative Distributive Shares • Pricing of Factors in Competitive Markets • Pricing of Factors in Imperfectly Competitive Markets • Trade Unions, Collective Bargaining and Wages • Theory of Rent • Theories of Interest • Theory of Profits • Alternative Macro-Theories of Distribution

Part-VI: General Equilibrium Analysis and Welfare Economics
• General Equilibrium Analysis • Welfare Economics: An Introduction • Concept and Conditions of Pareto Optimality • New Welfare Economics: Compensation Principle • Grand Utility Possibility Frontier and Welfare Maximization • Market Failures, Externalities and Public Goods • Social Welfare Function and Theory of Social Choice

Part-VII: Intertemporal Choice and Markets with Asymmetric Information
• Interest, Saving and Investment: Intertemporal Choice • Information Problem and Markets with Asymmetric Information