Syllabus Unit-1: Micro Economics Theory of Consumer Behaviour Theory of Production and Costs Decision making under uncertainty Attitude towards Risk Game Theory – Non-Cooperative games Market Structures, competitive and non-competitive equilibria and their efficiency properties Factor Pricing General Equilibrium Analysis Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization Welfare Economics: Fundamental Theorems, Social Welfare Function Asymmetric Information: Adverse Selection and Moral Hazard