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 5. 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 Expan-sion Path 3. Returns to Scale 4. Economics 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 Mono-poly 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. Notion 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.