-The Theory of Consumer Choice:Budget constraint, Preference,Utility, Choice, Demand- Price consumption curve and demand curves, Income consumption curve and Engel curve. Slutsky’s equation: Income effect and substitution effect. The theory of revealed preference. (Examples from health sector)
-The Theory of Production: The Production Function,Homogeneous Production Function, Properties of Linear Homogeneous Production Function,Stages of Production and Health Production Function; Technological Constraints,Iso-cost. Isoquant. Producer’s equilibrium, Expansion path, derivation of the cost curve from the production function, Technological Progress.

-Cost minimization:Returns to scale and the production function. Different types of cost, cost curves and their interrelationship: Long run and short run view. (Examples from health sector)
-Perfect Competition:The supply decision of a competitive firm: short run and long run view. Profits and producers surplus. Industry equilibrium in the short and long run.
-Monopolistic competition: product differentiation, equilibrium of the firm, comparison with pure competition
-Monopoly: price discrimination, natural monopoly, Multiplan monopolist, bilateral monopoly,
-Exchange: The Edgeworth box, Pareto efficient allocation, Walras’ law, Equilibrium and efficiency, first and second welfare theorem

1. Varian, Hal R., Intermediate Microeconomics.
2. Leftwich, R. H.,The Price System and Resource Allocation
3. Henderson, J. M. &Quandt, R. E., Microeconomic Theory: A Mathematical Approach.
4. Koutsoyiannis, A., Modern Microeconomics