| | 1. | Introduction to Micro Economics |
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| | (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 |
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| | (a) | Meaning and determinants of demand, Law of demand and Elasticity of demand, Price, income and cross elasticity | | (b) | Theory of consumer ’s behaviour – Marshallian approach and Indifference curve approach | | (c) | Meaning and determinants of supply, Law of supply and Elasticity of supply. |
| | 3. | Theory of Production and Cost |
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| | (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 |
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| | (a) | Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly | | (b) | Price determination in these markets. |
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| | 5. | Indian Economy - A Profile |
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| | (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 |
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| | (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 |
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| | (a) | Features of economic reforms since 1991 | | (b) | Liberalisation, Privatisation and Disinvestment | | (c) | Globalisation. |
| | 8. | Money and Banking |
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| | (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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