Microeconomics Syllabus 2025: Semester Subjects, Electives, Books, Specializations
Shruti TiwariContent writer
Microeconomics is a first-year UG subject that teaches the fundamentals of economics. Some students may also take this subject as an individual course. It offers a sound basis for economic analysis and reasoning that will serve them well throughout their schooling and future professional careers. In addition, it may serve as a basis for many years of study in economics, business or other related subjects for other students.
This course starts with an overview of supply and demand and the fundamental processes that establish equality in a market economy. It then provides a framework for researching consumer behaviour and assessing consumer choices. We then examine firms and their best production strategies and the influence of various market arrangements on company behaviour. The last section of the course covers some of the more difficult topics that may be investigated using microeconomic theory. Examples include international commerce, the impact of uncertainty on consumer behaviour, capital market functioning and social insurance.
By the conclusion of the course, you will be able to grasp fundamental microeconomic theory, solve basic microeconomic problems and use these skills to analyse a variety of policy issues concerning the functioning of the actual economy.
Microeconomics Syllabus: List of Subjects
Syllabus at UG or PG degree levels includes core and elective subjects. Elective subjects are to be chosen by the student each semester, while the core subject remains common for all the students enrolled on a course. Candidates can check the list of core and elective subjects in Microeconomics courses.
Typical Core Subjects in Microeconomics
|
Subject Title |
Subject Details |
|---|---|
|
Introductory Microeconomics |
This course is about the basic concepts of microeconomic theory. The focus of will be on thinking like an economist and demonstrating how to apply microeconomic concepts to real-world problems. |
|
Mathematical Methods in Economics-I |
This is the first of two mandatory courses. This series aims to teach the body of basic mathematics required for UG economic theory study, namely the courses on microeconomic theory, macroeconomic theory, statistics and econometrics included in this syllabus. |
|
Mathematical Methods in Economics-II |
Focuses on the body of fundamental mathematics essential for UG study of economic theory, especially the courses on microeconomic theory, macroeconomic theory, statistics and econometrics indicated in this syllabus. |
|
Statistical Methods for Economics |
This is a course on statistical methods for economics. It begins with some fundamental concepts and terminology associated with statistical analysis and inference. Following that, the idea of probability is introduced, followed by probability distributions of discrete and continuous random variables and joint distributions. |
Typical Electives for Microeconomics
|
Subject Title |
Subject Details |
|---|---|
|
Introductory Econometrics |
This course provides a detailed overview of key econometric ideas and methodology. It covers statistical concepts, including hypothesis testing, estimation and diagnostic testing for basic and complex regression models. |
|
Economics of Health and Education |
United Nations member nations designated education and health as Millennium Development Goals, indicating their importance in improving well-being. These goals are universal primary education, child mortality, improved mother health and disease prevention. |
Detailed Syllabus of Microeconomics
The syllabus for a B.A. in Microeconomics differs from college to college, but the disciplines are generally the same. The following is a basic summary of the core or optional courses taught in B.A. Microeconomics from the first to sixth semesters.
|
Semester |
Subject title |
Subject Details |
|---|---|---|
|
1 |
Applied Econometrics |
This course's goal is to provide a foundation in applied econometric analysis and develop skills needed for economics research. |
|
2 |
Introductory Macroeconomics |
This course is designed to expose students to the fundamental concepts of macroeconomics. The study of the whole economy is known as macroeconomics. |
|
3 |
Comparative Economic Development |
The course focuses on a group of countries that followed different growth trajectories and patterns to achieve their industrial transition. It compares the outcomes of these various trajectories on sectoral change, inter sectoral relations, labour processes, industrial relations and the role of the state in facilitating the respective trajectories. |
|
4 |
Intermediate Microeconomics |
The course provides the students with a solid basis in microeconomic theory, allowing them to explore the behaviour of individual agents formally. |
|
5 |
Public Economics |
The study of government policy from economic efficiency and equality standpoints is known as public economics. |
|
6 |
Indian Economics |
This course examines important patterns in economic statistics and policy debates in India since independence, focusing on changes and turning points identified via the use of suitable analytical frameworks. |
Microeconomics Course Books
|
Subject |
Book title |
Author |
|---|---|---|
|
Principles of Microeconomics |
Principles of Microeconomics |
N. Gregory Mankiw |
|
Applied Econometrics |
Freakonomics: A Rogue Economist Explains the Hidden Side of Everything |
Steven Levitt and Stephen J. Dubner |
|
Statistical Methods for Economics |
Prices and Quantities: Fundamentals of Microeconomics |
Rakesh V. Vohra |
|
Statistical Methods for Economics |
Thinking, Fast and Slow |
Daniel Kahneman |
|
Applied Econometrics |
Microeconomics |
Paul Krugman and Robin Wells |
FAQs on Microeconomics Syllabus
Q: What is the scope of Microeconomics?
A: Microeconomics is an evergreen subject owing to its strong use and demand in labour markets. It is also an important discipline for both a career and a job. Globalisation and the integration of multinational economies have increased work opportunities. As a result, a well-trained economist is in high demand in India and across the globe. To become an economist, you just need a bachelor's degree. Many Indian institutions offer undergraduate economics programmes.
Q: What are the subjects in Microeconomics?
A: Some subjects covered in Microeconomics Courses are:
- Introductory Microeconomics
- Mathematical Methods in Economics-I
- Mathematical Methods in Economics-II
- Statistical Methods for Economics
Q: Is Microeconomics a good course?
A: It is an excellent technique to learn about many real-world issues such as income inequality, product pricing, and so on. In addition, microeconomics is essential for understanding economic fundamentals, such as how economies work and why they do what they do.
Q: Which is better: B.A Microeconomics or Diploma in Microeconomics?
A: Both B.A. Microeconomics and Diploma Microeconomics courses have their merits. For example, suppose you wish to learn in detail about practical management, B.A. Microeconomics offers better practical knowledge. On the contrary, students who wish to perform Research and Development in Microeconomics can opt for Diploma.
Q: Is there any entrance exam for Microeconomics?
A: Yes. You can appear for one of the many entrance exams conducted for Microeconomics Courses. This includes the National Eligibility Test (NET), Jawaharlal Nehru University Entrance Exam, Madras School of Economics Entrance Exam, and BHU M.A. entrance exam for Economics.
Q: Is JEE required for Microeconomics?
A: For getting admission into IITs, NITs, and other nationally reputed institutions to provide an excellent education, Joint Entrance Examination (JEE) Mains and Advanced are compulsory. You can even get admission into many local colleges with the help of JEE Mains scores. However, since Microeconomics is not an engineering subject, it doesn't require a candidate to clear JEE.
Q: Is Microeconomics hard to study?
A: Many students contemplating studying Microeconomics are concerned about whether the exam will be challenging and whether they should choose this course or one that is easier. Even though microeconomics is not the most challenging subject, students must ensure that they are well prepared before entering.
Q: Do you need maths for Microeconomics?
A: Microeconomics might be but is not always a maths-intensive subject. Fundamental microeconomic assumptions such as scarcity, human choice, rationality, ordinal preferences, and trade do not need extensive mathematical abilities.
Q: Are writing skills compulsory for Microeconomics?
A: Writing is an essential talent for efficient communication in today's society, particularly in economics. Excellent writing abilities may help Economics save time during projects, provide constructive criticism in performance assessments, and create clear and concise project plans.
Q: Can PCB students do Microeconomics Courses?
A: Yes. Students who have studied science after 10th grade are eligible for admission in Microeconomics Courses in India. Any student must have a background in PCB to take admission in Microeconomics.
Q: Does Microeconomics have a future?
A: Microeconomics forecasts how individuals will react in settings involving economic or financial transactions using a set of fundamental ideas. Among them are the laws of supply and demand, opportunity costs, and utility maximisation. Microeconomics also relates to businesses.
Q: Is Microeconomics a B.A or M.A.?
A: It is a specialisation in both B.A and M.A. degrees. A B.A in Microeconomics is an undergraduate course which focuses on several aspects of Microeconomics without a specialisation in a single field. Whereas, M.A. in Microeconomics will focus on specialised processes and applications of Economics.
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