Welcome to Prime Academy

The Intermediate Micro Economics – I (ECON – 007) Course for BA (Hons) Economics Semester III, UGCF 2024, Delhi University has been taught by Mr. Dheeraj Suri. The Video Lectures are based upon the books prescribed by the University of Delhi. The Duration of Video Lectures is approximately 60 Hours.

Course Fee : Rs. 7,000

Access of Video Lectures is provided on any one of the following devices:

Windows Computer or Laptop, or

Android Phone or Tablet, or

Apple Iphone or Ipad, or

Apple Macbook,

till end of Semester III Exams.

Once You get the access you need to login and download our APP and all the lectures from your login account and play in your device.

You will get :

►Full Course Video Lectures

►Complete Study Material (PDF Notes) which includes Concepts, Previous Year Questions, Numerical Questions, MCQ’s and Important Questions

►Live Online Doubts Sessions with Expert Faculty (at least twice a week) for resolution of Doubts

►Online Discussion Forum to Post Your Queries to Discuss with Faculty & other fellow Students

►Mock Tests at the Website for regular assessment and progress tracking

►Video Lectures Cover Theory Portions Exhaustively + Complete Solutions of Back Questions of Readings + Solutions of Previous Years Papers + Large Number of Numericals

►Comprehensive Coverage of Syllabus and Exam Oriented Preperation

This online coaching platform aims to provide a supportive and engaging learning environment for students to achieve academic success and excel in their Economics Honours program.

►Varian, Hal (2010): Intermediate Microeconomics: A Modern Approach, 8th edition, Affiliated East West Press (India).

►Serrano, Roberto and Feldman, Alan (2012), A short course in intermediate Microeconomics with Calculus, Cambridge University Press

►Workouts in Intermediate Microeconomics- A Modern Approach, 8th edition, WW Norton & Co.

Demo Lectures

Course Introduction

Chapter 1 : Budget Constraint

Chapter 2 : Preferences

Chapter 3 : Utility

Previous Year Question Papers : PYQ’s

Question Paper 2020 Q1

Question Paper 2020 Q2

Question Paper 2021 Q1

Question Paper 2023 Q1

Question Paper 2023 Q4

These Lectures are Only for Demo.

For Complete Course Video Lectures You Need to Subscribe Our Course

Contact us at +91 9899192027 for details

Demo PDF Notes

Click here for Demo PDF of Study Material

For Complete PDF Notes of Intermediate Micro Economics – I

Contact us at +91 9899192027

Demo Quiz

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Consumer Equilibrium Test #1

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1 / 11

In a two good world there is an individual with income m = 3 and utility function is given by u = = x^0.5y^0.5 . The price of good x is Re. 1 per unit and the price of good y is also Re. 1 per unit.

If the individual can consume any non negative amount of good x and y, then the optimum consumption bundle is

x = 1, y = 1

x = 1.5, y = 1.5

x = 2.5, y = 0.5

x = 0, y = 3

2 / 11

In a two good world there is an individual with income m = 3 and utility function is given by u = x^0.5y^0.5. The price of good x is Re. 1 per unit and the price of good y is also Re. 1 per unit.

If the individual can consume either zero unit of good x or at most one unit of x and any non-negative amount of good y, then the optimum consumption bundle is

x = 1, y = 2

x = 1, y = 3

x = 0, y = 3

x = 3, y = 3

3 / 11

In a two good world there is an individual with income m = 3 and utility function is given by u = x^0.5y^0.5. The price of good x is Re. 1 per unit and the price of good y is also Re. 1 per unit.

If both goods x and y can be consumed in integer amounts (i.e., zero unit, one unit, two units etc.) then the optimum consumption bundle is

x = 3, y = 1

x = 1, y = 3

x = 3, y = 0

x = 1, y = 2 or x = 2, y = 1

4 / 11

Suppose a consumers preferences over commodities 1 and 2 can be represented by the utility function U(x₁, x₂ ) = min⁡{ x₁, x₂ } + max{ x₁, x₂ }, where x₁, x₂ ≥0. The prices of the two commodities are 1 and 2 respectively and the consumers income is 150. Which of the following is true?

At the optimum, the consumer should consume 150 units of commodity 1 and none of commodity 2.

At the optimum, the consumer should consume 75 units of commodity 2 and none of commodity 1.

At the optimum, the consumer should consume 50 units of commodity 1 and 50 units of commodity 2.

At the optimum, the consumer should spend equal amount on the two commodities.

5 / 11

There are three commodities - the first commodity has a negative price -1 per unit, the second commodity is priced at +1 per unit and third is priced at +2 per unit. Income of the person is 100 per day. Then which one of the following is not true?

An individual may afford to consume the positive amounts of each per day

An individual may afford to consume any amounts of goods 2 and 3 per day

An individual may afford to consume (0, 0, 60)

An individual may afford to consume (20, 0, 60)

6 / 11

Satish is very conscious about the food he eats. He only eats rotis and dal; a cup of dal costs Rs. 2 while each roti costs Re. 1 and Satish decides to spend Rs. 13 per day on food. Also he decides to consume exactly 5500 calories a day; he has been told that each roti has 1000 calories while each cup of dal has 500 calories. He spends his entire money allotted on foods. Then

He consumes 3 rotis and 5 cups of dal.

He consumes no more than 3 rotis per day.

He consumes no more than 5 cups of dal per day.

Unless we are given some more information about preference, we cannot say what Satish does.

7 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

Optimal consumption bundle of the consumer includes

Only good x

Only good y

both goods x and y

cannot say

8 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

Given prices, as M increases optimal consumption of x

increases

decreases

remains constant

cannot say

9 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

Let Py = 2, Px = 1/4m, optimal consumption bundle includes

Only good x

Only good y

both goods x and y

cannot say

10 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

If Px = Py in the optimal consumption bundle

equal amount of x and y is consumed

consumption of x is more than y

consumption of y is more than x

cannot say

11 / 11

Consider the function U defined on R² , where U(x, y) = √(3x + y). which of the following statements is true?

U is strictly concave.

U is strictly quasi concave.

U is both strictly concave and strictly quasi concave.

U is both concave and quasi concave

Your score is

The average score is 28%

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For Complete Mock Test Series of Intermediate Micro Economics – I, You need to subscribe our course.

Contact us at +91 9899192027

Exam Pattern

The Question Paper will be of 90 Marks

Suggested Weigtage for each Unit in the final Examination

Unit I : 50%

Unit II : 20%

Unit III : 30%

This division is flexible and plus/minus 5 percentage points of the marks and can be done in each unit.

It is also suggested that the question paper may have three sections (one for each Unit) with internal choice between questions in each section.

Course Content of Our Video Lectures

Lectures are Strictly as per Latest Syllabus for UGCF 2024

Unit I : Consumer Behaviour

Chapter 1 : Budget Constraint

Number Video Lectures : 11

Duration of Video Lectures : 331 Minutes

Based Upon Chapter 2 Hal Varian

Topics Covered

►Budget Constraint, Budget Set, Budget Line, Properties of Budget Line,

►Pivot & Shift in the Budget Line,

►The Numeraire,

►Taxes, Subsidies and Rationing,

►Kink in the Budget Line,

►Food Stamp Program,

►Odd Budget Constraints, Intertemporal Budget Line,

►Budget Constraint Theory Questions & Numericals,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions,

Chapter 2 : Prefernces

Number Video Lectures : 8

Duration of Video Lectures : 230 Minutes

Based Upon Chapter 3 Hal Varian

Topics Covered

►Preferences, Assumptions on Prefrences,

►Indifference Curves, Goods, Bads & Neuters,

►Well Behaved Preferences,

►Marginal Rate of Substitution,

►Preferences Theory Questions & Numericals,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions,

Chapter 3 : Utility

Number Video Lectures : 13

Duration of Video Lectures : 370 Minutes

Based Upon Chapter 4 Hal Varian

Topics Covered

►Utility, Ordinal & Cardinal Utility,

►Monotonic Transformation,

►Utility Functions,

►Cobb-Douglas utility function, Perfect Substitutes, Perfect Compliments, Quasi Linear Preferences,

►Marginal Utility & MRS,

►Utility Theory Questions & Numericals

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions

Chapter 4 : Choice

Number Video Lectures : 13

Duration of Video Lectures : 419 Minutes

Based Upon Chapter 5 Hal Varian

Topics Covered

►Consumer’s Optimal Choice,

►Consumer’s Equilibrium by Brute Force method, Graphical method, Lagrange Multipliers method

►Consumer’s Optimal Choice for Cobb-Douglas Preferences, Quasi linear preferences, Kinked IC’s, Perfect Substitutes, Discrete Goods,

►Consumer Preferences with Kinked Budget Line,

►Choosing Taxes,

►Indirect Utility Function, Marginal Utility of Income,

►Choice Theory Questions & Numericals

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions

Chapter 5 : Demand Functions

Number Video Lectures : 11

Duration of Video Lectures : 454 Minutes

Based Upon Chapter 6 Hal Varian

Topics Covered

►Demand Functions, Normal & Inferior Goods,

►Demand as a function of Income,

►Income Offer Curves & Engel Curves,

►Income Offer Curve & Engel Curve for Cobb-Douglas Preferences, Quasi linear preferences, Kinked IC’s, Perfect Substitutes,

►Homothetic Preferences,

►Demand as a function of Price,

►Ordinary Goods & Giffen Goods,

►The Price Offer Curve & Demand Curve,

►Price Offer Curve & Demand Curve for Cobb-Douglas Preferences, Quasi linear preferences, Kinked IC’s, Perfect Substitutes,

►The Inverse Demand Function,

►Demand as a function of Price of Other Good, Substitutes & Compliments,

►Demand Theory Questions & Numericals

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions

This Chapter (Revealed Preferences) is not a part of current syllabus, it is added here for better understanding of the remianing chapters

Chapter 6 : Revealed Preferences

Number Video Lectures : 2

Duration of Video Lectures : 111 Minutes

Based Upon Chapter 7 Hal Varian

Topics Covered

►The Idea of Revealed Preferences,

►Weak Axiom of Revealed Preferences,

►Strong Axiom of Revealed Preferences,

Chapter 7 : Slutsky Equation

Number Video Lectures : 18

Duration of Video Lectures : 786 Minutes

Based Upon Chapter 8 Hal Varian

Topics Covered

►Decomposition of Price Effect into Substitution and Income Effects,

►Slutsky Method of Decomposing Price Effect,

►The Compensated Demand Curve, Rebating a Small Tax,

►Relationship between Elasticity of Demand & Expenditure,

►Hicksian Method of Decomposing Price Effect, Kaldor Variant,

►The Market Demand Curve,

►Specific versus Lump sum Tax, Compensating Variation & Equivalent variation,

►Theory Questions & Numerical Questions on Slutsky & Hicksian Decomposition,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions

Chapter 8 : Buying & Selling

Number Video Lectures : 8

Duration of Video Lectures : 443 Minutes

Based Upon Chapter 9 Hal Varian

Topics Covered

►Net & Gross Demand, The Budget Constraint with Endowment,

►Effect of Changing the Endowmwnt on Budget Line,

►Effect of Price Change on the Consumer’s Equilibrium,

►Offer Curves & Demand Curves,

►Slutsky Equation Revisited,

►The Supply of Labour,

►Choice between Consumption & Leisure,

►Substitution and Income Effects in Labour Supply,

►Backward Bending Labour Supply Curve,

►Budget Constraint with Non-labour Income, Unemployment Benefits, Overtime,

►Taxing the Consumer’s Wages,

►Theory Questions & Numerical Questions on Buying & Selling,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions

Unit II : Decision Making under Uncertainty

Chapter 9 : Choice under Uncertainty

Number Video Lectures : 7

Duration of Video Lectures : 250 Minutes

Based Upon Chapter 12 Hal Varian

Topics Covered

►Risk & Uncertainty,

►Expected Value & Variance,

►Expected Utility,

►Risk Attitudes, Risk Aversion, Risk Loving, Risk Neutrality,

►Risk Premium, Certainty Equivalent,

►Insurance,

►Arrow Pratt Coefficient of Absolute Risk Aversion,

►Risk Spreading,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

Unit III : Producer Behaviour & Markets

Chapter 10 : Theory of Firm : The Single Input Model

Number Video Lectures : 7

Duration of Video Lectures : 220 Minutes

Based Upon Chapter 8 Roberto Serrano & Allan M. Feldman

Topics Covered

►Production Meaning,

►The Production Function,

►Price or Market Constraints,

►Profit, Total Cost, Average Cost, Marginal Cost,

►Profit Maximization with Output as Choice Variable,

►The Competitive Firm’s Problem,

►Profit Maximization with Input as Choice Variable,

►Questions from Recent Eco (H) Examinations,

►Serrano Feldman Back Questions

Chapter 11 : Theory of Firm : The Long Run Multiple Input Model

Number Video Lectures : 10

Duration of Video Lectures : 320 Minutes

Based Upon Chapter 9 Roberto Serrano & Allan M. Feldman

Topics Covered

►The Production Function in the Long Run,

►Isoquants,

►Technical Rate of Substitution,

►Returns to Scale,

►Cost Minimization in the Long Run, Relation between Long run Cost curves & Returns to Scale,

►Profit Maximizing in the Long Run,

►Returns to Scale & Long Run Supply,

►Questions from Recent Eco (H) Examinations,

►Serrano Feldman Back Questions

Chapter 12 : Theory of Firm : The Short Run Multiple Input Model

Number Video Lectures : 5

Duration of Video Lectures : 150 Minutes

Based Upon Chapter 10 Roberto Serrano & Allan M. Feldman

Topics Covered

►The Production Function in the Short Run,

►Cost Minimization in the Short Run,

►Profit Maximization in the Short Run,

►Questions from Recent Eco (H) Examinations,

►Serrano Feldman Back Questions

Solutions of Previous Year Papers

2021 Paper

Duration of Lectures : 110 Minutes

2020 Paper

Duration of Lectures : 100 Minutes

2019 Paper

Duration of Lectures : 110 Minutes

2018 Paper

Duration of Lectures : 105 Minutes

2017 Paper

Duration of Lectures : 110 Minutes

2016 Paper

Duration of Lectures : 105 Minutes

Syllabus Prescribed by DU

On Payment of Fee we will create your account on our website & you need to login and download all the lectures & our APP through that login account

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To purchase any course you need to transfer the amount either through Google Pay or PhonePe at 9811261671 or Paytm at 9899192027 or Transfer through net banking IMPS into the following account

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392010100053871

Axis Bank, Model Town Branch

Delhi – 110009

IFS Code : UTIB0000392

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Economics (H) Semester III [ UGCF 2024 ]

Video Lectures, PDF Notes, Mock Tests & Live Doubt Sessions are offered for the following Subjects for BA (Hons) Economics Semester III, Delhi University

Welcome to Prime Academy

For getting access of recorded video lectures of

Intermediate Micro Economics – I (ECON – 007)

BA Economics (H) Semester III, UGCF 2024

you need to subscribe our course.

If you are not registered at our website then Register Here

(After registration please inform us at +91 9899 192027 to get the access)

If you are already registered and have Got the access then Login to watch the Lectures

Sem 3 Subjects

Quick Links :

You will get :

►Full Course Video Lectures

►Complete Study Material (PDF Notes) which includes Concepts, Previous Year Questions, Numerical Questions, MCQ’s and Important Questions

►Live Online Doubts Sessions with Expert Faculty (at least twice a week) for resolution of Doubts

►Online Discussion Forum to Post Your Queries to Discuss with Faculty & other fellow Students

►Mock Tests at the Website for regular assessment and progress tracking

►Video Lectures Cover Theory Portions Exhaustively + Complete Solutions of Back Questions of Readings + Solutions of Previous Years Papers + Large Number of Numericals

►Comprehensive Coverage of Syllabus and Exam Oriented Preperation

This online coaching platform aims to provide a supportive and engaging learning environment for students to achieve academic success and excel in their Economics Honours program.

Recommended Readings

►Varian, Hal (2010): Intermediate Microeconomics: A Modern Approach, 8th edition, Affiliated East West Press (India).

►Serrano, Roberto and Feldman, Alan (2012), A short course in intermediate Microeconomics with Calculus, Cambridge University Press

►Workouts in Intermediate Microeconomics- A Modern Approach, 8th edition, WW Norton & Co.

Demo Lectures

Course Introduction

Chapter 1 : Budget Constraint

Chapter 2 : Preferences

Chapter 3 : Utility

Previous Year Question Papers : PYQ’s

These Lectures are Only for Demo.

For Complete Course Video Lectures You Need to Subscribe Our Course

Contact us at +91 9899192027 for details

Demo PDF Notes

Click here for Demo PDF of Study Material

For Complete PDF Notes of Intermediate Micro Economics – I

Contact us at +91 9899192027

Demo Quiz

For Complete Mock Test Series of Intermediate Micro Economics – I, You need to subscribe our course.

Contact us at +91 9899192027

Exam Pattern

The Question Paper will be of 90 Marks

Suggested Weigtage for each Unit in the final Examination

Unit I : 50%

Unit II : 20%

Unit III : 30%

Course Content of Our Video Lectures

Lectures are Strictly as per Latest Syllabus for UGCF 2024

Unit I : Consumer Behaviour

Chapter 1 : Budget Constraint

Number Video Lectures : 11

Duration of Video Lectures : 331 Minutes

Based Upon Chapter 2 Hal Varian

Topics Covered

►Budget Constraint, Budget Set, Budget Line, Properties of Budget Line,

►Pivot & Shift in the Budget Line,

►The Numeraire,

►Taxes, Subsidies and Rationing,

►Kink in the Budget Line,

►Food Stamp Program,

►Odd Budget Constraints, Intertemporal Budget Line,

►Budget Constraint Theory Questions & Numericals,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions,

Chapter 2 : Prefernces

Number Video Lectures : 8

Duration of Video Lectures : 230 Minutes

Based Upon Chapter 3 Hal Varian

Topics Covered

►Preferences, Assumptions on Prefrences,

►Indifference Curves, Goods, Bads & Neuters,

►Well Behaved Preferences,

►Marginal Rate of Substitution,

►Preferences Theory Questions & Numericals,

►Questions from Recent Eco (H) Examinations,

►Hal Varian Back Questions,

►Serrano Feldman Back Questions,

Chapter 3 : Utility

Number Video Lectures : 13

Duration of Video Lectures : 370 Minutes