Introduction to Microeconomics | - What is microeconomics?
- Central problems
|
Consumer Behaviour and Demand | - Consumerโs Equilibrium: meaning and attainment of equilibrium through Utility Approach:
- One and two commodity cases.
- Demand: market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in the demand curve, price elasticity of demand, measurement of price elasticity of demand โ percentage, total expenditure, and geometric methods.
|
National Income and Related Aggregates โ Basic Concepts and Measurement | - Macroeconomics: meaning.
- Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost).
- Measurement of National Income โValue Added method, Income method, and Expenditure method.
|
Determination of Income and Employment | - Aggregate demand, aggregate supply, and their components
- Propensity to consume and propensity to save (average and marginal)
- Meaning of involuntary unemployment and full employment
- Determination of income and employment: two-sector model
- Concept of investment multiplier and its working
- Problems of excess and deficient demand
- Measures to correct excess and deficient demand โ availability of credit, change in government spending.
|
Money and Banking | - Money: meaning, evolution, and functions
- Central bank: meaning and functions
- Commercial banks: meaning and functions
|
Government Budget and the Economy | - Government budget โ meaning and its components
- Objectives of government budget
- Classification of receipts โ revenue and capital; classification of expenditure โ revenue and
- capital, plan and non-plan, and developmental and non-developmental
- Balanced budget, surplus budget, and deficit budget: meaning and implications
- Revenue deficit, fiscal deficit, and primary deficit: meaning and implications; measures to contain different deficits.
|
Balance of Payments | - Foreign exchange rate โ meaning (fixed and flexible), merits and demerits; determination
- through demand and supply
- Balance of payments accounts โ meaning and components
- A brief analysis of recent exchange rate issues
|
Development Experience (1947-90) and Economic Reforms since 1991 | - A brief introduction of the state of the Indian economy on the eve of independence. Indian economic system and common goals of Five year Plans.
- Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI โ role & importance) and foreign trade.
|
Current challenges facing the Indian Economy | - Poverty โ absolute and relative; Main programmes for poverty alleviation: A critical
- assessment;
- Human Capital Formation โ How many people become resource; Role of human capital
- in economic development;
- Rural development: Key issues โ credit and marketing โ role of cooperatives; agricultural
- diversification;
- Employment: Growth and changes in work force participation rate in formal and informal
- sectors; problems and policies
- Infrastructure: Meaning and Types: Cases Studies: Health: Problems and Policies โ A critical assessment;
- Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
|
Development Experience of India | - A comparison with neighbours:
- India and Pakistan
- India and China
- Issues: economic growth, population, sectoral development and other Human Development Indicators
|
