Скачать или смотреть PPF & CIC | Lecture 2 | AKN | International Economics | UG | NEP 2020

📘 AKN-Lecture 2: Production Possibility Frontier (PPF) & Community Indifference Curve (CIC)

This lecture is part of International Economics (UG Economics NEP 2020 syllabus).

In this session, we develop the analytical foundation of international trade through the closed economy framework. The lecture explains:

• Concept and derivation of the Production Possibility Frontier (PPF)
• Opportunity cost and Marginal Rate of Transformation (MRT)
• Community Indifference Curve (CIC) and social welfare
• Marginal Rate of Substitution (MRS)
• Closed economy equilibrium (MRT = MRS)
• Determination of autarky relative price

This lecture forms the theoretical base for understanding Comparative Advantage and Gains from Trade in the next classes.

🎓 Faculty: Dr. Arun Kumar Nandi
Department of Economics, Chakdaha College