ECONOMICS
One Paper
Three Hours
Marks 100
Unitwise Distribution of Marks:
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Reduced portion/ Syllabus for H.S. 2nd Year Final Examination 2021 (ECONOMICS)
Unitwise Distribution of Course contents :
Part-A
INTRODUCTORY MICROECONOMICS
This course introduces the learner to economics as a
science of abstraction and reasoning. It introduces some basic concepts and
tools to understand economic issues of an individual or a firm and how
decisions are taken in variety of markets. It also intends to provide exposure
to the learners on how choices are mare and how a variety of statistical tools
are used to optimally allocate the resources.
Unit-I
Introduction
(I) What is microeconomics?
(II) Central problems of an economy, production possibility
curve and opportunity cost.
Unit-II
Consumer Behaviour
and Demand
(I) Consumer’s
Equilibrium : meaning and attainment of equilibrium through Utility Approach:
One and two commodity cases.
(II) Demand : Concept of demand, determinants of demand,
demand schedule, demand curve, market demand, movement along and shifts in
demand curve, price elasticity of demand, measurement of price elasticity of
demand– percentage, total expenditure and geometric methods.
Unit-III
Producer Behaviour
and Supply
(I) Production function : returns to factor and returns to
scale.
(II) Supply : market supply, determinants of supply, supply
schedule, supply curve, movement along and shifts in supply curve, price
elasticity of supply, measurement of price elasticity of supply– percentage and geometric methods.
(III) Cost and Revenue : Concepts of costs, short-run cost
curves (fixed and variable costs; total, average and marginal costs); concepts
of revenue– total, average and marginal
revenue and their relationship. Producer’s equilibrium– with the help of MC and
MR.
Unit-IV
Forms of
Market and Price Determination
(I) Forms of market– perfect
competition, monopoly, monopolistic competition–
their meaning and features.
(II) Price determination under perfect competition– equilibrium price, effects of shifts in demand and supply.
Unit-V
Simple
applications of Tools of demand and supply Curves
Change in cost conditions and its impact on the form’s
and market supply.
(I) Geometric method to determine the elasticity of supply.
(II) Effects of Taxation : Per unit tax, lump sum tax Price
ceilings and price floor.
Part-B
INTRODUCTORY
MACROECONOMICS
The overall working of an economy and some of its
economic theorisation are introduced in this course. The learners will get some
basic idea of how the government regulates the functioning of economic aspects
of a country though accounting of the production activities, running financial
institutions, budgeting and the accounting of its economic interaction with
other countries. The impact it will have on citizens is also briefly
introduced.
Unit-VI
National Income
and Related Aggregates– Basic Concepts and Measurement
(I) Macroeconomics : meaning.
(II) Circular flow of income, concepts of GDP, GNP, NDP, NNP
(at market price and factor cost), National Disposable Income (gross and net);
Private Income, Personal Income and Personal Disposable Income.
(III) Measurement of National Income–
Value Added method, Income method and Expenditure method.
Unit-VII
Determination of
Income and Employment
(I) Aggregate demand, aggregate supply and their components.
(II) Propensity to consume and propensity to save (average and
marginal)
(III) Meaning of involuntary unemployment and full employment.
(IV) Determination of income and employment : two sector
model.
(V) Concept of investment multiplier and its working.
(VI) Problems of excess and deficient demand.
(VII) Measures to correct excess and deficient demand– availability of credit, change in government spending.
Unit-VIII
Money and Banking
(I) Money : meaning, evolution and functions
(II) Central bank : meaning and functions.
(III) Commercial banks : meaning and functions.
(IV) Recent significant reforms and issues in Indian Banking
System : privatisation and modernisation.
Unit-IX
Government Budget
and the Economy
(I) Government budget– meaning and its components.
(II) Objectives of government budget.
(III) Classification of receipts–
revenue and capital; classification of expenditure–
revenue and capital, plan and non-plan and developmental and non-developmental.
(IV) Balanced budget, surplus budget and deficit budget :
meaning and implications.
(V) Revenue deficit, fiscal deficit and primary deficit :
meaning and implications; measures to contain different deficits.
(VI) Downsizing the role of government : meaning and
implications.
(VII) The introduction of GST in the Indian Economy.
Unit-X
Balance of
Payments
(I) Foreign exchange rate–
meaning (fixed and flexible), merits and demerits; determination through demand
and supply.
(II) Balance of payments accounts–
meaning and components.
(III) A brief analysis about recent exchange rate issues.
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