The purpose of this course is to deepen the students understanding and analysis of microeconomic principles covered in the introductory course. It will also provide an adequate exposition of the basic concepts and techniques of microeconomic analysis. The consumer and producer theory and the theory of markets will be treated mathematically and diagrammatically.  Further, pure aspects of general equilibrium theory and welfare economics will be covered. Its content covers: Price Theory and its applications; Concept of elasticity as a measure of responsiveness and its application; income, price and cross elasticities, equilibrium and disequilibrium models in microeconomic theory, indifference curve analysis and consumer behaviour, mathematics of production, stages of production, returns to scale, theory of market structure, factor markets, general equilibrium theory and welfare.