Coming soon
Basics of Economics
To familiarize students with types of markets, concept of inflation and its impact on economy as well as tax system in the economy.
Economics: Definition, Nature and Scope of Economics; Micro and Macro Economics; Positive and Normative Economics; Central Problems of an Economy, Production Possibility Curve and Opportunity Cost; Working of Economic Systems (Capitalistic Economy, Socialistic Economy, Mixed Economy); Economic Cycles, Inflation and Recession.
Total Utility and Marginal Utility;Law of Diminishing Marginal Utility; Law of Equi-Marginal Utility; Consumers’ Equilibrium; Law of Demand and Elasticity of Demand; Law of Supply, Elasticity of Supply; Demand and Supply Equilibrium; Theory of Consumer Behaviour – Marshallian Approach and Indifference Curve Approach.
Forms of Market- meaning and characteristics; Price and Output Determination- Equilibrium for Firm and Industry under Perfect Competition, Monopoly , Monopolistic Competition and Oligopoly.
Definition of Money, Types, Features and Functions, Principles of Banking, Measures of credit control and Money Market. Basic Elements of E-Banking; Monetary Policy in India.
Introduction, meaning of inflationary gap, effects and control of inflation.
Taxation System in India: Types of Taxes (direct tax and indirect tax),Introduction and importance of GST, Legal Framework of CGST, Procedure for registration under CGST.
• Dwivedi, D.N.,“Microeconomics: Theory and Applications”, Pearson Education, New Delhi.
• Gravelle H., and Rees, R., “Microeconomics”, Pearson Education, New Delhi.
• Ahuja, H.L., “Advanced Economic theory; Microeconomic Analysis”, S. Chand & CompanyLtd. New Delhi.
• Mithani, D.M., “Managerial Economics”, Himalaya Publishing House, New Delhi..
• Shapiro, E., “Macroeconomic Analysis”, Galgotia Publication, New Delhi.
