CONTENTS

1. The Definitions of Economics, 2. Scope of Economics and its Nature, 3. Methods of Economic  Study, 4. Some Important Economic Postulates, 5. Micro and Macro Economics, 6. Economics Statics and Dynamics, 7. Economic Laws & their Nature, 8. Economic Systems and their Features, 9. Demand & Supply—Basic Framework, 10. Utility and Marginal Utility Analysis, 11. Indifference Curve & Consumer's Equilibrium, 12. Income Effect, Substitution Effect & Price Effect,

Appendix 1. Uses of Indifference Curves

Appendix 2. Superiority of Indifference Curve.

13. Consumer's Surplus, 14. Elasticity of Demand and its Measurement, 15. Production and Factors of Production, 16. Production Function, 17. Law of Returns, 18. ISO-Product Curves and its Characteristics, 19. Production Decision—Optimum Cost Combination, 20. Returns to Scale, 21. Cost : Concepts and Various Concepts, 22. Market : Concepts and Types, 23. Concept of Revenue, 24. Equilibrium of Firm : Concept and Conditions, 25. Perfect Competition, 26. Monopoly and Price Discrimination, 27. Monopolistic Competition, 28. Concept of National Income, 29. Theories of Distribution, 30. Rent, 31. Wages, 32. Interest, 33. Profits. 

SYLLABUS

Micro Economics

Unit I : Introduction to Economics. Definitions of Economics. Nature and Scope of Economics, Significance and Evolution of Micro Economics. functions of Managerial Economist.

Unit II : Concept and Law of Demand, Law of Supply, Concept of Market Equilibrium. Elasticity of Demand. Demand Determinants.

Unit III : Utility Analysis, Marginal Concept of Utility, Indifference Curve Analysis : Assumptions, Properties of Indifference Curve, Theory of Consumer Surplus.

Unit IV : Elements of Cost. Factors of Production : Theory of Rent, Theory of Interest, Theories of Profit.

Unit V : National Income : Estimates and Analysis (GNP, NNP, GDP, HDI), Methods of Measurement of National Income. Types of Market Structure. Perfect vs. Imperfect Market. Trade Cycles.