Welcome to Lecture 5 of the online lecture series on Microeconomics I typically offered as a core paper to B.A.(P)/ SOL/ NCWEB students in their first semester and is also offered as a Generic Elective Economics
The textbook used in this video can be found here: drive.google.c...
We are referring to chapter 21 on The Theory of Consumer Choice from the book by N. Gregory Mankiw Principles of Microeconomics I 6th edition
In this lecture, we discuss the following topics:
1. Budget Constraint
2. Interpretation of point on/off Budget line
3. Slope of Budget Line
4. Consumer Preferences: Indifference Curve
5. Slope of Indifference Curve
6. Comparison of slope of budget line and IC
7. Decreasing Slope of IC
For more videos on this lecture series:
1.Controls on Prices: • Microeconomics| Price ...
2.Taxes: • Microeconomics|Tax on ...
3. Consumer and Producer Surplus: • Consumer & Producer su...
4. Market Efficiency & Market Failure: • Market Efficiency| Mar...
5. Budget Line, Indifference Curve: • Budget Line| Indiffere...
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