Business Economics

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.

Utility Analysis- 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

Theory of Production, Costs and Revenue: Meaning of Factors of Production; Returns to Factor and Returns to Scale; Cost Concepts and Cost Curves; Revenue Concepts and Revenue Curves; Producers Equilibrium

Forms of Market- meaning and characteristics; Price and Output Determination- Equilibrium for Firm and Industry under Perfect Competition, Monopoly and Monopolistic Competition.

-    Development Initiative through Five Year Plans

-    Agriculture

Causes of Low Productivity

Farm Size Productivity Debate

Land Reforms: Meaning, Importance and Evalution

Green Revolution and its effects

Globalisation and Indian Agriculture

Industry

Development Policies and Experience

Industrial Policy Resolutions

New Industrial Policy 1991

Select Areas of Indian Economy

Population – Its Size, Rate of Growth and its implication for Growth

Poverty- Absolute and Relative Poverty and Main Programs for Poverty Alleviation

Unemployment- Types, Causes and incidence of Unemployment

Infrastructure- Energy, Transportation, Communication, Health and Education

Concept of Money – Its Functions; Quantity Theory of Money; Credit Creation

Central Bank (Reserve Bank of India) – Role and Functions

Commercial Banks – role and functions; Monetary Policy in India