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Semester I
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Semester II
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Evolution and definition of Economics
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Economies of Scale |
| Nature & Scope of Economics |
Different Concepts of Costs Explicit & Implicit |
| Methods of Economics Analysis |
Accounting, Opportunity, Total fixed and Variable Costs |
| Inductive & Deductive Logic, Merit and Demerits. |
Marginal & Average Costs & their relationship |
| Utility Demand, Supply |
Concept of Revenue |
| Commodities and their types |
Total, Marginal & Average Revenue |
| Value and Price |
Break Even Point |
| Market |
Concept and Classification |
| Administered and Non- Administered Prices |
Perfect Competition Characteristics |
| Demand- Supply equilibrium. |
Price and Output Determination for Firm and Industry |
| Cardinal (Marshal) and Ordinal Utility |
Market Equilibrium |
| Approaches to Demand |
Characteristics and Price- Output Determination |
| Indifference Curve: Consumer equilibrium (Hichs & Slutsky) |
Price Discrimination |
| Price, Income and Substitution effects |
Monopolistic Competition |
| Derivation of Demand Curve. |
Characteristics Price- Output Determination |
| Elasticity of Demand |
Factor Pricing |
| Price, Income and Cross elasticity |
Theory of Marginal Productivity of Distribution |
| Consumer Surplus and its measurement. |
Concept of Adding up Theorem |
| Factors of Production and their Characteristics |
Theories of Wages and Rent: Classical and Modern. |
| Laws of Production |
Interest: Concept, Classical and Keynesian Theories of Interest |
| Returns to Factor and Return to Scale |
Profit: Net and Gross |
| Law of Variable Proportion |
Theories of Profit. |
| Isoquants Nature and their Characteristics |
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| Producers equilibrium |
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Semester III
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Semester IV
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Structure of Indian Economy - Primary, Secondary & Tertiary Sectors
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Infrastructure of Indian Economy |
| Natural Resources, Land, Water, Forest |
Irrigation, Power, Transport, Communication |
| Mineral Resources. |
Banking and Insurance. |
| Demographic Features |
Human Infrastructure of Indian Economy |
| Population, Size, Sex, Rural-Urban Classification |
Health, Nutrition, Education, Knowledge and Skills |
| Population Distribution |
Housing and Sanitation. |
| Recent National Population Policy. |
Planning in India- Objectives, Types, Strategy |
| Agriculture: Nature and Importance |
Analysis of Current Five- Year Plan. |
| Land Use Pattern |
Economy- Land, land Utilization Pattern |
| Trends in Agriculture Production and Productivity |
Natural Resources- Forest, Water & Mineral |
| Cropping Pattern. |
Agro-Climatic Zones |
| Land Reforms: Green Revolution |
Demographic Features of M.P. |
| Rural Credit |
Agricultural Situation in Economy |
| Agricultural Marketing |
Cropping Pattern |
| Mechanization |
Production and Productivity of Main Corps, |
| Small Scale and Cottage Industries- Meaning, Importance and Problems |
Sources of Credit in Agriculture, Irrigation |
| Major Industries in India: Iron and Steel, Textile, Sugar, Cement, Automobiles |
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Semester V
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Semester VI
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Macro Variables- Stock and Flow
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Public Finance and Public Economics |
| Circular Flow of income |
Public, Private and Merits Goods |
| Concept of National Income- GDP, GNP |
Market and State- Role and Functions |
| Measurement of National Income and Social Accounting in India |
Principle of Maximum Social Advantage |
| National Income and Economic Welfare |
Sources of Revenue- Taxes, Loans, Grants and Aids |
| Classical Theory of Employment |
Canons of Taxation |
| Keynesian Theory of Employment |
Principles of Public Expenditure |
| Aggregate Demand and Supply Functions |
Principles of Public Debt and Methods of Redaction |
| Effective Demand |
Wagener’s Law- Increasing Activities |
| Consumption Function |
Effects of Public Expenditure on Production and Distribution. |
| Factors Affecting Consumption |
Public Finance in India |
| Average and Marginal propensities to consume |
Concept and Types of Budget |
| Simple Investment |
Fiscal Deficit |
| Saving Function & Sources of Saving Mobilization |
Deficit Financing and Deficit Budget. |
| Investment Function |
Constitution and Function of Finance Commission |
| Marginal Efficiency of Capital |
Recommendation of Latest Finance Commission |
| Factors Affecting Capital Formation |
Latest Budget |
| Concept of Accelerator. |
The stock of Money and its Measures |
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Cash Transaction and Cash Balance Approaches.
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Inflation, Deflation, and Recession |
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Demand-Pull and Cost-Push Inflation |
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Bank- Meaning and Types |
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Objectives and Limitations of Monetary Policy. |
