CS - Foundation Programme : Economics and Statistics

ICSICS (2008)FPSyllabus and Books • Economics and Statistics

CS_FP :: Foundation Programme
Paper 2 : Economics and Statistics
[One paper: Three Hours – 100 marks]

Level of Knowledge :

Basic knowledge.

Objective . . .

To provide basic and conceptual understanding of economic concepts, principles of economics and statistical tools to interpret and analyse various economic phenomena.

Detailed Contents . . .

Part A : Economics (50 Marks)

1.Nature and Scope of Economics
Definition, nature and scope of economics; micro and macroeconomics; positive and normative economics; working of economic systems with special reference to the capitalistic, socialistic and the mixed economies.
2.Demand and Supply Analysis
Utility analysis - total utility and marginal utility; law of diminishing marginal utility; law of equi-marginal utility; consumers’ equilibrium; law of demand; elasticity of demand; law of supply, elasticity of supply; demand and supply equilibrium.
3.Production, Costs and Revenue Analysis
Factors of production, meaning of production, laws of returns; returns to scale; cost concepts and cost curves; revenue concepts and revenue curves.
4.Market Forms and Equilibrium of the Firm and Industry
Market forms - meaning and characteristics; price and output Introduction of New Syllabus of the Company Secretaryship Course Student Company Secretary 36 November 2007 determination and equilibrium of firm and industry under perfect competition, monopoly and monopolistic competition.
5.Basic characteristics of Indian Economy
Role of Agriculture, Industry & Service Sectors in the development of the Indian Economy; National income of India – Concept, significance, trends and measurement of national income.
6.Select Areas of Indian Economy
Population – size and growth and impact of population on economic development; unemployment –nature, various measures to reduce it; foreign trade and India’s balance of payments. Five Year Plans and economic development; fiscal policy and national budget.
7.Money and Banking
Concept of money – its functions; Commercial Banks – role and functions; quantity theory of money; credit creation; Reserve Bank of India and its functions and monetary policy.
8.Economic Reforms and Liberalisation
Major economic reforms since 1991; Globalisation and its impact on Indian Economy; concept of WTO- an overview.

Part B : Statistics (50 Marks)

9.Descriptive Statistics
Definition and functions of statistics, statistical techniques commonly used in business activities, law of statistics, limitations of statistics.
10.Collection and Presentation of Statistical Data
Primary and secondary data; Classification and, tabulation of data; frequency distribution of data; diagrams and graphs.
11.Measures of Central Tendency
Mean, median and mode, geometric mean and harmonic mean.
12.Measures of Dispersion
Range, quartile deviation, mean deviation, standard deviation.
13.Correlation Analysis
Meaning, significance, nature and types of correlation; Karl Pearsons coefficient of correlation; rank correlation.
13.Index numbers and Time Series Analysis
Familiarisation with the concepts relating to index numbers and time series (Simple Numerical Problems).


Micro Economic Theory; H.L.BhatiaModern Publishers, Gulab Bhawan, 6,
Bahadurshah Zafar Marg, New Delhi- 110 002.
Micro Economic Theory;M.L.JhinganKonark publishers Pvt. Ltd., A-149,
Vikas Marg, Shakarput, New Delhi-110 092.
Economic System and Micro, Economic Theory; S.K.AgarwalaGalgotia Publishing Company, 6A/4, WEA, Karol Bagh, New Delhi-110 005.
Macro Economic – Analysis and PolicyD.D.ChaturvediGalgotia Publishing Company, 6A/4, WEA, Karol Bagh, New Delhi – 110 005.
Macro Economics;D.M.MithaniHimalaya Publishing House, Ramdoot,
Dr.Bhalerao Marg, Girgaon, Bombay-400 004
Money Banking, International Trade and Public Finance;D.M.MithaniHimalaya Publishing House, Ramdoot,
Dr.Bhalerao Marg, Girgaon, Bombay-400 004.
Principles of Economics;D.M.MithaniHimalaya Publishing House, Ramdoot,
Dr.Bhalerao Marg, Girgaon, Bombay-400 004.
Indian EconomyRuddar Datt & K.P.M.Sundaram S.Chand & Company Ltd., 7362, Ram Nagar,Qutab Road, New Delih-110 055.
Quantitative Techniques;S.P.Gupta, P.K.Gupta & Man Mohan Sultan Chand & Sons, 23, Daryaganj, New Delhi-1110 002.
Business Statistics;R.S.BhardwajExcel Books, A-45, Narayana, Phase-1, New Delhi-110 028.
Fundamental of StatisticsA.K.Aggarwal & Sahab Singh Frank Sons, Daryaganj, New Delhi-110 002.
StatisticsR.S.N.Pillai & V.Bagarathi S.Chand & Company Ltd., 7361, Ram Nagar, Qutab Road, New Delhi-110 055.
Business StatisticsS.Saha New Central Book Agency, Kolkata.
Quantitative Techniques;B.M.AggrwalSultan Chand & Sons Pvt. Ltd., 23, Daryaganj, New Delhi-110 002.


EconomicsSamuelson & WilliamMcGraw-Hill Education (India) Ltd. B-4, Sector 63,Gautam Budh Nagar, Noida-201 301.
Advanced Economics TheoryP.N.ChopraKalyani Publishers, 23, Daryaganj, New Delhi-110 002.
Advanced Micro Economic Theory; M.Maria John KennedyHimalaya Publishing House, Ramdoot,
Dr. Bhalerao Marg, Girgaon, Bombay-400 004.
Outline of Monetary Economics.A.C.L.Day
Indian EconomyA.N.AgarwalWishwa Prakashan, 4835/24, Ansari Road, Daryaganj, New Delhi-110 002.
Economic Development & Planning in India.L.C.Dhingra & V.K.Garg
Theory and problems of Statistics;Mural R.Spiegal & Larry J.Stephans McGraw-Hill Eduction (India) Ltd., B-4, Sector 63,Gautam Budh Nagar, Noida-201 301.
Statistical MethodsS.P.GuptaSultan Chand & Sons, 23, Daryaganj, New Delhi-110 002.
Business Statistics;S.C.Gupta & Indira GuptaHimalaya Publishing House, Ramdoot, Dr.Bhalerao Marg, Girgaon, Bombay-400 004.
Comprehensive Statistical Method;P.N.Arora, Sumeet Arora, S.Arora & Amit Arora S.Chand & Co. Ltd., 7361, Ram Nagar, Qutab Road, New Delhi-110 055
Mathematics and Statistics for Economics;G.S.MongaVikas Publishing House Pvt. Ltd., A-22, Sector-4, Noida-201 301 (U.P.)
Tenth Five Year PlanGovernment of India Publication.
Economic Survery (latest)Government of India Publication.