Topics
Introduction to Micro and Macro Economics
Micro Economics
Macro Economics
Utility Analysis
- Utility
- Types of Utility
- Concepts of Utility
- Relationship Between Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Assumptions of Diminishing Marginal Utility
- Exceptions to the Law of Diminishing Marginal Utility
- Criticisms of the Diminishing Marginal Utility
- Significance of the Diminishing Marginal Utility
- Relationship Between Marginal Utility and Price
- Diminishing Marginal Utility
Demand Analysis
Elasticity of Demand
Supply Analysis
Forms of Market
Index Numbers
National Income
- Concept of National Income
- Features of National Income
- Circular Flow of National Income
- Different Concepts of National Income
- Methods of Measurement of National Income
- Output Method/Product Method
- Income Method
- Expenditure Method
- Difficulties in the Measurement of National Income
- Importance of National Income Analysis
Public Finance in India
Money Market and Capital Market in India
- Financial Market
- Money Market in India
- Structure of Money Market in India
- Organized Sector
- Reserve Bank of India (RBI)
- Commercial Banks
- Co-operative Banks
- Development Financial Institutions (DFIs)
- Discount and Finance House of India (DFHI)
- Unorganized Sector
- Role of Money Market in India
- Problems of the Indian Money Market
- Reforms Introduced in the Money Market
- Capital Market
- Structure of Capital Market in India
- Role of Capital Market in India
- Problems of the Capital Market
- Reforms Introduced in the Capital Market
Foreign Trade of India
- Internal Trade
- Foreign Trade of India
- Types of Foreign Trade
- Role of Foreign Trade
- Composition of India’s Foreign Trade
- Direction of India’s Foreign Trade
- Trends in India’s Foreign Trade since 2001
- Concept of Balance of Payments (BOP)
Introduction to Micro Economics
- Features of Micro Economics
- Analysis of Market Structure
- Importance of Micro Economics
- Micro Economics - Slicing Method
- Use of Marginalism Principle in Micro Economics
- Micro Economics - Price Theory
- Micro Economic - Price Determination
- Micro Economics - Working of a Free Market Economy
- Micro Economics - International Trade and Public Finance
- Basis of Welfare Economics
- Micro Economics - Useful to Government
- Assumption of Micro Economic Analysis
- Meaning of Micro and Macro Economics
Consumers Behavior
Analysis of Demand and Elasticity of Demand
Analysis of Supply
Types of Market and Price Determination Under Perfect Competition
- Market
- Forms of Market
- Market Forms - Duopoly
- Equilibrium Price
Factors of Production
- Factors of Production - Land
- Factors of Production: Labour
- Factors of Production: Capital
- Factors of Production - Feature of Capital
- Factors of Production - Organisation
Introduction to Macro Economics
- Features of Macro Economic
- Importance of Macro Economic
- Difference Between Mirco Economic and Macro Economic
- Allocation of Resource and Economic Variable
National Income
Determinants of Aggregates
- Total Demand for Good and Services
- Concept of Aggregate Demand and Aggregate Supply
- Consumption Demand
- Investment Demand
- Government Demand
- Foreign Demand
- Difference Betweeen Export and Import
- Effect of Population of Consumption Expediture
- Types of Investment Expenditure
- Micro Eco-Equilibrium
Money
- Meaning of Money
- Type of Money
- Primary Function
- Secondary Functions
- Standard of Deferred Payment
- Standard of Transfer Payment
- Money - Store of Value
- Concept of Barter Exchange
- Difficulties Involved in the Barter Exchange
- Monetary Payments
- Concept of Good Money
Commercial Bank
Central Bank
- Definition - Central Bank
- Central Bank Function - Banker's Bank
- Central Bank Function - Controller of Credit
- Monetary Function of Central Bank
- Non Monetary Function of Central Bank
- Method of Credit Control - Quantitative
- Repo Rate and Reverse Repo Rate
- Central Bank Function - Goverment Bank
Public Economics
- Introduction of Public Economics
- Features of Public Economics
- Meaning of Government Budget
- Objectives of Government Budget
- Features of Government Budget
- Public Economics - Budget (1 Year)(1 April to 31 March)
- Types of Budget
- Taxable Income
- Budgetary Accounting in India
- Budgetary Accounting - Consolidated , Contingency and Public Fund
- Components of Budget
- Factor Influencing Government Budget
Notes
Features of Macro Economics :
1) Study of Aggregates :
Macro economics deals with the study of economy as a whole. It is concerned with the aggregate concepts such as national income, national output, national employment, general price level, business cycles etc.
2) Income Theory :
Macro economics studies the concept of national income, its different elements, methods of measurement and social accounting. Macro economics deals with aggregate demand and aggregate supply. It explains the causes of fluctuations in the national income that lead to business cycles i.e. inflation and deflation.
3) General Equilibrium Analysis :
Macro economics deals with the behaviour of large aggregates and their functional relationship. General Equilibrium deals with the behaviour of demand, supply and prices in the whole economy.
4) Interdependence :
Macro analysis takes into account interdependence between aggregate economic variables, such as income, output, employment, investments, price level etc. For example, changes in the level of investment will finally result into changes in the levels of income, levels of output, employment and eventually the level of economic growth.
5) Lumping Method :
Lumping method is the study of the whole economy rather than its part. According to Prof. Boulding, “Forest is an aggregation of trees but it does not reveal the properties of an individual tree.” This reveals the difference between micro economics and macro economics.
6) Growth Models :
Macro economics studies various factors that contribute to economic growth and development. It is useful in developing growth models. These growth models are used for studying economic development. For example, Mahalanobis growth model emphasized on basic heavy industries.
7) General Price Level :
Determination and changes in general price level are studied in macroeconomics. General price level is the average of all prices of goods and services currently being produced in the economy.
8) Policy-oriented :
According to Keynes, macro economics is a policy oriented science. It suggests suitable economic policies to promote economic growth, generate employment, control of inflation, and depression etc.
