Elective Introductory Microeconomics
Introductory Microeconomics notes
6 chapter notes, in syllabus order. Each starts with the key points.
Unit 1
Economics: Scarcity, Choice & SystemsUnit 1 of Introductory Microeconomics introduces core concepts like scarcity, opportunity cost, economic systems, and the circular flow of income—foundations for analyzing real-world trade-offs and resource allocation.8 min readUnit 2
Demand and Supply · note coming
Unit 3
Elasticity: Types, Factors, Applications & Real-World ImpactUnit 3 of Introductory Microeconomics explores price elasticity of demand and supply, income and cross elasticity, their determinants, and real-world applications in pricing, taxation, and policy—with Nepalese and global examples like eSewa, Daraz, and Ncell.10 min readUnit 4
Consumer Behaviour: Utility Analysis · note coming
Unit 5
Indifference Curve Analysis: Preferences, Budget Lines, Consumer ChoiceUnit 5 of Introductory Microeconomics explores how consumers make choices between goods using indifference curves, budget constraints, and utility maximization, with real-world applications in pricing, marketing, and policy.12 min readUnit 6
Production: Factors, Functions, Returns, and Short-Run AnalysisUnit 6 of Introductory Microeconomics explores the theory of production, covering production functions, laws of returns, short-run and long-run production decisions, and the role of factors of production in maximizing output.9 min readUnit 7
Costs · note coming
Unit 8
Perfect Competition: Market Structure, Firm Behavior & EfficiencyUnit 8 of Introductory Microeconomics explores the defining features of perfect competition, how firms and markets behave under this structure, price determination, and its economic efficiency. It contrasts this model with other market structures and applies it to real-world scenarios like agricultural markets and stoc14 min readUnit 9
Monopoly · note coming
Unit 10
Monopolistic Competition & Oligopoly: Markets, Strategies & Real-World CasesUnit 10 of Introductory Microeconomics explores monopolistic competition and oligopoly—market structures between perfect competition and monopoly—covering definitions, key characteristics, pricing strategies, and real-world applications in Nepal (e.g., Daraz, Pathao, Ncell) and global firms (Google, WhatsApp).11 min read