Advanced Economic Theory (Microeconomic Analysis)

There have been significant developments in economic theory in recent years, but the tendency has been to make it more mathematical. Postgraduate and Honours students of Indian universities, having poor background of mathematics, find it difficult to understand the various theories and concepts involving use of advanced mathematics. Moreover, the matter pertaining to advanced topics in economic theory is scattered in many economic journals to which most of the students of Indian universities have no access. I have endeavoured to help them. So, in this book an effort has been made to discuss the various theories of microeconomics without making use of advanced mathematics. The merit of this book is that it explains the advanced theories and concepts with the help of geometry and simple mathematics.

1. Nature and Scope of Economic Theory

2. Micro and Macro-Economics

3. Methodology of Economics

4. Methodology of Economics: Economic Statics and Dynamics

5. Basic Mathematical Concepts and Optimisation Techniques

6. Demand and Demand Function

7. Consumer’s Behaviour: Cardinal Utility Analysis

8. Indifference Curve Analysis of Demand

9. Demand for Complementary and Substitute Goods

10. Marshallian Cardinal Utility Analysis vs. Indifference Curve Analysis

11. Applications and Uses of Indifference Curve

12. Revealed Preference Theory of Demand

13. Hicks’ Logical Ordering Theory of Demand

14. Elasticity of Demand

15. Consumer Surplus

16. Attribute Approach to Consumer’s Behaviour

17. Individual Choice Under Risk and Uncertainty

18. Theory of Production: Returns to a Variable Factor

19. Production Function with Two Variable Inputs

20. Optimum Factor Combination

21. Cost Analysis

22. Linear Programming

23. Supply and its Elasticity

24. Market Structures and Concepts of Revenue for a Firm

25. Firm: A General Analysis of its Nature, Objectives and Equilibrium

26. Pricing in Competitive Markets: Demand-Supply Analysis

27. Applications of Demand and Supply Analysis

28. Equilibrium of the Firm and Industry Under Perfect Competition

29. Comparative Static Analysis of Equilibrium and Long-Run Supply Curve of the Competitive Industry

30. Existence and Stability of Equilibrium under Perfect Competition

31. Kaldor and Sraffa on Incompatibility of Equilibrium with Perfect Competition

32. Price and Output Determination under Monopoly

33. Price Discrimination

34. Measurement of the Degree of Monopoly Power

35. Price and Output under Bilateral Monopoly

36. Price and Output Determination under Monopolistic Competition

37. A Critique of Chamberlin’s Theory of Monopolistic Competition

38. A Critical Evaluation of Excess Capacity of Doctrine Monopolistic Competition Theory

39. Chamberlin’s Monopolistic Competition vs. Joan Robinson’s Imperfect
Competition Theories

40. Price and Output Determination under Oligopoly

41. Classical Models of Oligopoly

42. Non-Price Competition: Selling Cost and Advertising

43. Cost-Plus (or Mark-up) Pricing Theory

44. Theory of Games and Strategic Behaviour

45. Sales Maximisation Model of Oligopoly Firm

46. Managerial Theories of the Firm: Marris and Williamson's Models

47. Behavioural Theory of the Firm: Satisficing Model

48. Theory of Limit Pricing

49. Government Policies Towards Monopoly and Competition

50. Theory of Distribution: A General View

51. Neo-Classical Macro-Theory of Relative Distributive Shares

52. Pricing of Factors in Competitive Markets

53. Pricing of Factors in Imperfectly Competitive Markets

54. Trade Unions, Collective Bargaining and Wages

55. Theory of Rent

56. Theories of Interest

57. Theory of Profits

58. Alternative Macro-Theories of Distribution

59. General Equilibrium Analysis

60. Welfare Economics: An Introduction

61. Concept and Conditions of Pareto Optimality

62. New Welfare Economics: Compensation Principle

63. Grand Utility Possibility Frontier and Welfare Maximization

64. Market Failures, Externalities and Public Goods

65. Social Welfare Function and Theory of Social Choice

66. Interest, Saving and Investment: Intertemporal Choice

67. Information Problem and Markets with Asymmetric Information