UNIVERSITY OF DELHI DELHI SCHOOL OF ECONOMICS DEPARTMENT OF ECONOMICS Minutes of the Meeting Subject : B.A. Economics (Hons.) Course : HC 12 Introductory Microeconomics I Date of Meetings : December 12, 2020 Venue : Online Chair: Anirban Kar Attended by: 1. Abdul Rasheed C K Hindu College 2. Ravinder Ram Hindu College 3. Nidhi Tewathia Gargi College 4. K Varsha Hansraj College 5. Loveleen Gupta Bharati College 6. Trisha Jolly Janki Devi Memorial College 7. Sonika Shyama Prasad Mukherji College for Women 8. Shruti Goyal Shivaji College 9. Anil Kumar Ramjas College 10. Rimpy Kaushal PGDAV College 11. Indranil Chowdhury PGDAV College (M) 12. Akshara Awasthi Jesus and Mary College 13. Ravish ARSD College 14. Parul Jain Sri Aurobindo College, Morning 15. Ashok Kumar Daulat Ram College 16. D. Appala Naidu ARSD College 17. Roopali Goyanka Indraprastha College for Women 18. Kapil Meena Ramjas College 19. Naresh Chandra Mallik Hansraj College 20. Shikha Singh Daulat Ram College 21. Hema Kapur Hansraj College 22. Gunjan Agarwal Lakshmibai College 23. Shivani Verma Mata Sundri College for Women 24. Gargee Sarkar Indraprastha College for Women 25. Jyoti Mavi Gargi College 26. Sarbeswar Padhan Dr.Bhim Rao Ambedkar College 27. Mamta Ahuja Sri Guru Nanak Dev Khalsa college 28. Deepika Goel Aryabhatta College 29. S Rubina Naqvi Hindu College 30. Rashmi Sharma Delhi College of Arts and Commerce 31. Jasica Chakma Hansraj College 32. Shruti Garg Sri Aurobindo College 33. Dorothy Roy Chowdhury Hindu college 34. Trishna Sarkar Dr Bhim Rao Ambedkar College. 35. Yamini Dr. Bhim Rao Ambedkar College 36. Rakesh K Singh Zakir Hussain Delhi College (Day) 37. Sakshi Jindal Mata Sundry College for Women. 38. Mohini Aggarwal Rajdhani College 39. Akanksha Saini Kamala Nehru College 40. Rajnish Kr Chandra Lady Shri Ram College for Women 41. Priti Mendiratta Arora Maitreyi College 42. Kapila Mallah Hansraj College 43. Jayashree Sahoo Lady Shri Ram College 44. Sugandha Huria Sri Venkateswara College 45. Sonica Singhi Lakshmi Bai College 46. Chhavi Gautam College of Vocational Studies 47. Har Simrat Kaur Lady Sri Ram College for Women 48. Sakshi Bansal Janki Devi Memorial College 49. Navpreet Kaur Janki Devi Memorial College 50. Vinay kumar Yadav Ram Lal Anand College 51. Rashmi Kumar Shaheed Bhagat Singh Eve College 52. Saumya Verma Lady Sri Ram College for Women A meeting of the Course Committee was held on 12/12/2020. It was decided that the syllabus and readings which had been adopted in the meeting held on 14/08/2019 will continue. Minutes of the previous meeting is attached. UNIVERSITY OF DELHI DELHI SCHOOL OF ECONOMICS DEPARTMENT OF ECONOMICS Minutes of the Meeting Subject : B.A. Economics (Hons.) Course : Introductory Microeconomics (HC12 Credit: 6) Date of Meetings : August 14, 2019 Venue : Department of Economics, Delhi School of Economics, University of Delhi Chair : Prof. Ram Singh Attended by: Sl. No. Name of the Teacher College 1. Hema Kapur Hansraj College 2. Ravish ARSD College 3. Parul Jain Sri Aurobindo College 4. Abhash Kumar Rajdhani College 5. Srividya Subramaniam SGTB Khalsa College 6. Aruna Rao Sri Venkateshwara College 7. Supriti Mishra Shyamlal College 8. Anand Kumar CVS 9. Rashmi Kumar SBSEC 10. Shruti Garg Sri Aurobindo College 11. Aradhana Nanda SGGS College 12. Roopali Goyanka IP College 13. Taruna Dyal Singh College 14. Anil Kumar Ramjas College 15. Venu Gupta HRC 16. Kapila Mallah HRC 17. Sonica Singhi LB College 18. Sonika SPM College 19. Saraswati ARSD College 20. Prabhjot Kaur IP College 21. Pragya Nayyar SGTB College 22. Gaganpreet Kaur SGTB College 23. Saumya Shukla Maharaja Agrasen College 24. D. Appala Naidu ARSD College 25. Shabnam Bahadur DCAC 26. Benston John St. Stephen’s College 27. Gati K.M. ZHDC 28. Amulya Kumar Sahoo SPM College 29. Abdul Rasheed CK Hindu College 30. Apoorva Gupta Ramjas College 31. Varun Bhushan PGDAV College 32. Anshika Sagar Hindu College 33. Deepika Kandpal PGDAV College 34. Pankaj Khandelwal JDM College 35. Sakshi Jindal Mata Sundri College 36. Deepika Sharma PGDAV (Eve.) College 37. Narender Thakur BRA College 38. Stuti Gupta SLC (Eve.) College 39. Praveen Kumar KMV 40. Vipin Negi KMV 41. Shikha Solanki SBSEC 42. Manjula Singh St. Stephens’ College 43. Malabika Pal Miranda House 44. Mohini Aggarwal Rajdhani College 45. Nidhi Chand Maitreyi College 46. N. Selvaraj Dyal Singh (M) College 47. Mamta Shaheed Bhagat Singh College 48. Punam Tyagi Kalindi College Notes: A meeting of the Course Committee was held on 14/08/2019. It was decided that the following readings will be followed book for the course under the LOCF scheme, effective from July 2019. References 1. Bernheim, B., and Whinston, M. (2009). Microeconomics. Tata McGraw-Hill. Hereafter Bernheim and Whinston (2009). 2. Mankiw, N. (2007). Economics: Principles and applications, 4th ed. Cengage Learning. Hereafter Mankiv (2007) Unit-wise details of the readings are as follows: Unit 1: Introduction What is microeconomics? Scope and method of economics; the economic problem: scarcity and choice; the concept of opportunity cost; the question of what to produce, how to produce and how to distribute output; science of economics; institutions for allocating resources; the basic competitive model; prices, property rights and profits; incentives and information; rationing; positive versus normative analysis. The scientific method; the role of assumptions; models and mathematics; why economists sometimes disagree Interdependence and gains from trade; specialization and trade; absolute advantage; comparative advantage and trade Reference: Mankiv (2007) Chapter 1, 2 and 3(Added). Unit 2 : Supply and Demand: How markets work, markets and welfare Markets and competition; determinants of individual demand/supply; demand/supply schedule and demand/supply curve; market versus individual demand/supply; shifts in the demand/supply curve, demand and supply together; how prices allocate resources; elasticity and its application; controls on prices; taxes and the costs of taxation; consumer surplus; producer surplus and the efficiency of the markets. Application to international trade; comparison of equilibria with and without trade, the winners and losers from trade; effects of tariffs and quotas; benefits of international trade; some arguments for restricting trade Reference: Mankiv (2007); Chapter 4,5,6,7,8 and 9(Added) Bernheim and Whinston (2009); Chapter 2 (Added) Unit 3 : The Households The consumption decision - budget constraint, consumption and income/price changes, demand for all other goods and price changes; description of preferences (representing preferences with indifference curves); properties of indifference curves; consumer‘s optimum choice; income and substitution effects; labour supply and savings decision; choice between leisure and consumption Reference: Mankiv (2007): Chapter 21. Bernheim and Whinston (2009): Chapter-4 TopicS: Goods Vs Bads, pp 105-107(Added); Ch-6, Topic: Labor Supply and Demand for leisure, pp 185-189 (Added) Unit 4 : The firm and perfect market structure Behaviour of profit maximizing firms and the production process; short-run costs and output decisions; costs and output in the long-run Reference: Mankiv (2007); Chapter 13, 14 Unit 5: Imperfect Market Structure Imperfect Market Structure Monopoly and anti-trust policy; government policies towards competition; imperfect competition Reference: Mankiv (2007); Chapter 15 Unit 6 : Input market Labour and land markets: Basic concepts (derived demand, productivity of an input, marginal productivity of labour, marginal revenue product); demand for labour; input demand curves; shifts in input demand curves; competitive labour markets; labour markets and public policy Reference: Mankiv (2007); Chapter 18 Teaching Learning Process: Lectures and tutorials Assessment Methods: Internal assessment and final examination as per CBCS rules .