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.