Paper – I MICRO ECONOMICS

UNIT – I INTRODUCTORY

1. Definitions, Nature and Scope of Economics 2. Study Methods of Economics 3. Choice : An Economic Problem 4. Basic Postulates or Concepts 5. Role of Price-Mechanism 6. Demand and Supply : Basic Framework and Market Equilibrium 7. Concept and Type of Equilibrium 8. Micro and Macro Analysis 9. Static and Dynamic Analysis.

UNIT – II CONSUMPTION

1. Utility Analysis (Cardinal Utility Analysis) 2. Indifference Curve Analysis 3. Price Elasticity of Demand 4. Consumer’s Surplus 6. Revealed Preference Theory.

UNIT – III THEORY OF PRODUCTION AND COST

1. Production Function and Law of Variable Proportion 2. ISO-Product or Equi-Product Curve : Marginal Rate of Technical Substitution, Production Decision and Expansion Path 3. Returns to Scale 4. Economies of Scale and Elasticity of Substitution 5. Theory of Cost 6. Equilibrium of Firm,

UNIT – IV  MARKET STRUCTURE

1. Market and Market Structure 2. Price Determination under Perfect Competition 3. Monopoly : Price Determination, Measurement of Monopoly Power, Monopoly Control and Taxation and Monopoly Regulation 4. Price Discrimination under Monopoly 5. Monopolistic Competition-Price Determination 6. Oligopoly and Duopoly : Price Determination 7. Nation of Controlled and Administered Prices.

UNIT – V FACTOR PRICING

1. Marginal Productivity Theory of Distribution 2. Adding up Theorem (or Euler’s Theory) 3. Theories of Wage Determination and Relationship with Collective Bargaining 4. Rent 5. Interest 6. Profit.

UNIT – VI INVESTMENT ANALYSIS

1. Investment Analysis

UNIT – VII WELFARE ECONOMICS

1. Welfare Economics and Problems in Measuring Welfare 2. Classical Welfare Economics, Pigou’s and Pareto’s Theory 3. Compensation Principles and Social Functions.

Paper – II MACRO ECONOMICS

1. Macro Economics 2. Macro Economic Equilibrium 3. National Income Accounting 4. National Income and Green National Income 5. Measurement of National Income 6. National Income and Economic Welfare 7. Circular Flow of Income and National Income Identities 8. Theory of National Income Determination-Classical Theory 9. Say’s Law of Markets 10. Keynesian Theory of Employment : Determinants of Income and Employment 11. Equality between Saving and Investment and Equilibrium 12. IS and LM Functions-General Equilibrium of Product and Money Market 13. Consumption Function and Psychological Law of Consumption 14. The Saving Function 15. Theory of Multiplier 16. Wages and Employment : Pigou Effect and Wealth Effect 17. Post-Keynesian Consumption Function : Reconciliation of Short and Long-Period Consumption Functions 18. The Investment Function and Determinants of Investment 19. Marginal Efficiency of Capital 20. Theory of Accelerator 21. Capital Stock Adjustment and Investment 22. Keynesian Theory and Under-developed Countries 23. Cobweb Theorem or Theory 24. Business Cycle 25. The Harrod-Domar Models 26. Solow’s Model of Long-Run Growth 27. Macro Economic Theories of Distribution 28. Macro Economic Policies : Monetary Policy and Fiscal Policy 29. Inflation : Concept and Theory 30. Rate of Interest and its Theory 31. Theories of Population 32. Factors influencing Economic Growth or Development : Economic and Non-economic 33. Keynesian Income Theory or Saving and Investment Theory of Value of Money 34. Environmental Problems.