SYLLABUS ECONOMICS INTERMEDIATE PART-I
NATIONAL CURRICULUM
Marks: 100 PART-I Time: 3 Hours
CHAPTER – 1 NATURE AND SCOPE OF ECONOMICS Weightage: 15%
A. Introduction:
- Wants and satisfaction
- Goods and services
- Utility and scarcity
- Economics problems and its nature
- Definition by:
a) Adam Smith b) Alfred Marshall c) Lionel Robbins
B. Meaning of:
- Micro Economics, Macroeconomics, Positive Economics, Normative Economics
- Economic laws and their nature
CHAPTER – 2 CONSUMER’S BEHAVIOUR AND ITS ANALYSIS Weightage: 10%
A) Consumer’s behavior
- Definition
- Meaning
- Rationale
B) Utility approach
- The Law of administrative marginal utility with table and graph
- The law of Equi-marginal utility or law of substitution with formula and diagram
C) Indifference curve
- Definition and Characteristics (graphical presentation)
CHAPTER – 3 BASIC TOOLS OF STATISTICS AND MATHEMATICS IN ECONOMICS Weightage: 5%
A) Variables:
- Continuous
- Discontinuous
- Independent
- Dependent
B) Equation
- Linear equation with group
- Quadratic Equation
- Simultaneous Equations
C) Statistical Data
- Collection and Tabulation
CHAPTER – 4 DEMAND Weightage: 10%
A) Law of demand and practical uses
- Definition
- Law of demand
- Demand function and functional equation of demand
- Movement along the demand curve and shift in demand curve
B) Demand elasticity
- Price elasticity of demand (Arc & point) and methods of measurement
- Concepts of income elasticity and cross-elasticity of demand
- Factors influencing the elasticity of demand
- Practical uses of the concept of elasticity of demand
CHAPTER –5 SUPPLY Weightage: 10%
A) Law of supply and practical uses
- Definitions stock and supply Law of Supply
- Supply functions and functional equation of supply
- Movement along with supply curve and shift in supply curve
B) Elasticity
- Elasticity of supply and its measurement.
- Factors influencing the elasticity of supply
- Practical uses of the concepts
CHAPTER – 6 EQUILIBRIUM Weightage: 10%
A) Equilibrium in demand and supply etc.
- Concept of equilibrium
- Equilibrium of demand and supply
- Equilibrium in price and equilibrium in output
- The effects on equilibrium in price and output put due to change in demand and supply
CHAPTER –7 THEORY OF PRODUCTION Weightage: 10%
A) Theory of production
- Meaning of production
- Characteristics and importance of Factors of Production
B) Factors of Production
- Land
- Labour
- Capital
- Organization
CHAPTER –8 SCALES OF PRODUCTION AND LAWS OF RETURNS Weightage: 5%
A) Scales of production
- Meaning
- Scale of production Economies and diseconomies internal and external
- Merits and demerits of large scale (increasing, constant, diminishing) and their relation with the cost of production
B) Laws of Returns
- Laws of production (increasing, constant, diminishing) and their relation with the cost of production
CHAPTER –9 COST OF PRODUCTION Weightage: 5%
A) Cost of production
- Definition, classification, Fixed and variable.
- Total, average and marginal cost
B) Relationships of different cost curve
- Relationship between total, average and marginal cost.
CHAPTER –10 REVENUE ANALYSIS Weightage: 5%
A) Application of Revenue curves in price and output determination
- Definition
- Total, marginal and average revenue under perfect competition and monopoly
- Price and output determination and short and long run under perfect competition and monopoly
CHAPTER – 11 MARKET Weightage: 5%
A) Market
- Meaning and significance of market
B) Kinds of market
- Perfect competition and monopoly
- Short run and long run in perfect competition and monopoly
CHAPTER – 12 DISTRIBUTION: FACTORS PRICING Weightage: 10%
A) Factors pricing and Productivity
- Rent, meaning, Kinds and Ricardian theory of rent
- Wages definition, meaning, and Kinds. Marginal productivity theory
- Interest: Meaning and Kinds
- Profit: meaning and kinds
- Difference between profit and interest
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