(I) Micro Economics
1. Introduction to Micro Economics
(a) Definition,
scope and nature of Economics
(b) Methods of
economic study
(c) Central
problems of an economy and Production possibilities curve.
2. Theory of Demand and Supply
(a)
Meaning and determinants of demand, Law of demand and Elasticity of demand ─ Price,
income and cross elasticity
(b) Theory of
consumer ’s behaviour – Marshalling approach and Indifference curve approach
(c) Meaning and
determinants of supply, Law of supply and Elasticity of supply.
3. Theory of Production and Cost
(a) Meaning and
Factors of production
(b) Laws of Production
– The Law of variable proportions and Laws of returns to scale
(c) Concepts of Costs
─ Short-run and long-run costs, Average and marginal costs, Total, fixed and
variable costs.
4. Price Determination in Different
Markets
(a) Various
forms of markets – Perfect Competition, Monopoly, Monopolistic Competition and
Oligopoly
(b) Price
determination in these markets.
(II) Indian Economic Development
5. Indian Economy – A
Profile
(a) Nature of
the Indian Economy
(b) Role of
different sectors – Agriculture, Industry and Services in the development of
the Indian economy, their problems and growth
(c) National
Income of India – Concepts of national income, Different methods of measuring
national income, Growth of national income and per capita income in various
plans.
(d) Basic
understanding of tax system of India – Direct and Indirect Taxation
6. Select Aspects of Indian
Economy
(a)
Population – Its size, rate of growth and its implication for growth
(b) Poverty –
Absolute and relative poverty and main programs for poverty alleviation
(c)
Unemployment – Types, causes and incidence of unemployment
(d) Infrastructure
─ Energy, Transportation, Communication, Health and Education
(e) Inflation
(f) Budget and
Fiscal deficits
(g) Balance of
payments
(h) External
debts.
7. Economic Reforms in India
(a)
Features of economic reforms since 1991
(b) Liberalization,
Privatization and Disinvestment
(c) Globalization.
8. Money and Banking
(a)
Money – Meaning and functions
(b) Commercial
Banks – Role and functions
(c) Reserve Bank
of India – Role and functions, Monetary policy.
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