Module 2: Theories of Consumer’s Behaviour Cardinal Approach – Utility, Meaning, The law of diminishing marginal utility, the law of equimarginal Utility, Consumer’s Surplus Limitations of Marshallian approach. Ordinal Approach – Indifference Curves, Meaning, Schedule, Map, Consumer’s equilibrium, Price, Income and substitution effects, Criticisms of the indifference curve approach Revealed Preference Theory. (Part 1,2,3,4,5)

V.B.Hanns Module 2: Theories of Consumer’s Behaviour Cardinal Approach – Utility, Meaning, The law of diminishing marginal utility, the law of equimarginal Utility, Consumer’s Surplus Limitations of Marshallian approach. Ordinal Approach – Indifference Curves, Meaning, Schedule, Map, Consumer’s equilibrium, Price, Income and substitution effects, Criticisms of the indifference curve approach Revealed Preference Theory. (Part 1,2,3,4,5). [Audio]

	Audio Part-1 Economics-2nd Unit By Dr VB Hans.mp3 Download (42MB)
	Audio Part-2 Economics-2nd Unit By Dr VB Hans.mp3 Download (39MB)
	Audio Part-3 Economics-2nd Unit By Dr VB Hans.mp3 Download (46MB)
	Audio Part-4 Economics 2nd Unit by Dr V.B Hans.mp3 Download (42MB)
	Audio Part-5 Economics 2nd Unit by Dr V.B Hans.mp3 Download (28MB)

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