MAEC, Ignou

    MEC-101: Microeconomic Analysis - Important Concepts for Exams

    Focus on these key topics that are frequently covered in exams and assignments for MAEC.

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    Most Important Topics
    High Priority
    Core principles that are asked in exams almost every year

    Key Topics:

    • Utility Maximization (Lagrangian Method)

      Block 1, Unit 3 - Theory of Consumer Behaviour

    • Cobb-Douglas Utility Functions

      Block 1, Unit 3 - Theory of Consumer Behaviour

    • Risk and Expected Utility Theory

      Block 6, Unit 17 - Decision-Making under Risk

    • Production Functions

      Block 2, Unit 5 - Theory of Production

    • Shephard's Lemma (Cost Minimization)

      Block 2, Unit 6 - Cost Functions and Curves

    • Monopoly Pricing and Price Elasticity

      Block 3, Unit 8 - Monopoly

    • Price Discrimination

      Block 3, Unit 9 - Price Discrimination

    • Cournot and Bertrand Competition

      Block 3, Unit 10 - Oligopoly

    • Dominant Strategy, Nash Equilibrium

      Block 7, Unit 19 - Introduction to Game Theory

    • Bayesian Game Concepts

      Block 7, Unit 20 - Games with Incomplete Information

    • Welfare Economics

      Block 5, Units 13 to 16 - Welfare Economics

    • Public Goods

      Block 5, Unit 15 - Public Goods

    • Moral Hazard and Adverse Selection

      Block 6, Unit 18 - Economics of Insurance

    • Dynamic Stability and Cobweb Model

      Block 8, Unit 22 - Applications of Game Theory

    • Risk Pooling and Risk Sharing Benefits

      Block 6, Unit 18 - Economics of Insurance

    • Efficiency Wage Theory

      Block 8, Unit 22 - Applications of Game Theory