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12th Standard Higher secondary Second Year

Economics -

Economics

1 Nature and Scope of Economics


-:- Nature and Scope of Economics
-:- Definitions of Economics
-:- Adam Smith's Definition (Wealth Definition)
-:- Alfred Marshall's Definition (Welfare Definition)
-:- Lionel Robbins' definition (Scarcity Definition)
-:- Samuelson's Definition (Modern Definition of Economics)

2 Basic Economic Problems


-:- Main Divisions of Economics
-:- Economics : positive or normative science ?
-:- Economics in relation to other social sciences
-:- Economics and Politics , Economics and History
-:- Economics and Ethics , Economics and psychology
-:- Economics, mathematics and statistics
-:- Economics as a science
-:- Methods of Economic Analysis
-:- Economic Laws and Importance of Economic Laws
-:- Characteristics and Classification of Wealth
-:- Goods
-:- Income and Types of Income
-:- Economics : Value and Price
-:- Markets and Classification of Markets
-:- Importance of Economics
-:- Basic Economic Problems and Economic Systems
-:- Capitalist Economy : salient features, Merits and Disadvantages
-:- Socialist Economy : salient features, Merits and Disadvantages
-:- Mixed Economy : salient features, Merits and Demerits
-:- Production Possibility Curve

3 Theory of Consumer Behaviour


-:- Theory of Consumer Behaviour
-:- Economics : Consumer Behaviour : Characteristics of wants
-:- Economics : Consumer Behavior : Classification of Wants
-:- Concept of Utility : Total, Marginal Utility
-:- Law of Diminishing Marginal Utility(DMU) - Definition, Explanation, Importance, Criticism
-:- Law Of Equi-Marginal Utility - Definition, Explanation, Importance, Criticism
-:- Limitations of the Equi-Marginal Utility Law
-:- Importance of Equi-Marginal Utility Law
-:- Consumer's surplus : Definition, Explanation, Importance, Criticism
-:- Indifference Curve Approach : Definition, Schedule, curve, map

4 Demand and Supply


-:- Law of Demand with Schedule and curve
-:- Exceptions to the Law of Demand
-:- Factors determining demand
-:- Elasticity of Demand and Types of Elasticity of Demand
-:- Importance of Elasticity of demand
-:- Factors determining supply
-:- Elasticity of supply : concept, Types, Factors determining

5 Equilibrium Price


-:- Equilibrium Price
-:- Shift in Demand and Supply
-:- Economics : Time Periods and Price Fixation

6 Production


-:- Production
-:- Factors of production : Land, Labour, Capital and Organisation
-:- Forms of Capital and Characteristics of capital
-:- Labour : Characteristics and Division of Labour
-:- Identifying the optimum combination of factors of production
-:- Short-run and Long-run production function
-:- Short-run production function - The law of variable proportions
-:- Long-run production function - Increasing, Constant, Decreasing Returns to Scale
-:- Characteristics of an isoquant
-:- Producer's Equilibrium and The Cobb Douglas Production Function
-:- Economies of Scale - Internal - Internal, External economies

7 Cost and Revenue


-:- Cost function, concepts and classifications
-:- Short run average cost curves - Average Fixed, Average variable and Average Total Cost
-:- Marginal Cost
-:- Long run Average Cost Curve (LAC)
-:- Accounting Cost and Economic cost
-:- Concepts Of Revenue : Average, Marginal Revenue(AR,MR)
-:- Measurement of Profit

8 Market Structure and Pricing


-:- Meaning, Definition and Characteristics of Market
-:- Classification of Markets according to Area, time, Competition
-:- Features and Conditions of perfect competition
-:- Nature of Revenue curves
-:- Monopoly : Characteristics and Causes
-:- Monopoly : Price and Output Determination : Advantages, Disadvantages
-:- Methods of Controlling Monopoly
-:- Definition and Conditions of Price Discrimination
-:- Characteristics of Monopolistic Competition
-:- Determination of Equilibrium price and output under monopolistic competition
-:- Wastages of Monopolistic competition
-:- Characteristics of Oligopoly

9 Marginal Productivity Theory of Distribution


-:- Marginal Productivity Theory of Distribution
-:- The Ricardian theory of Rent
-:- Modern Theory of Rent and Quasi-Rent
-:- Theories of wages
-:- Early theories of wages
-:- Recent Theories of wages
-:- Theories of Interest
-:- Loanable funds theory (Neo - classical theory) of Interest
-:- Liquidity preference theory (Keynesian theory) of interest
-:- Rent theory of profits

10 Simple Theory of Income Determination


-:- Simple Theory of Income Determination
-:- Say's Law of Market
-:- Keynesian Theory of Income Determination
-:- Keynesian Theory Aggregate Demand : Consumption Function
-:- Keynesian Theory Aggregate Demand : Inducement to invest (Investment function)
-:- Rate of interest: Liquidity Preference Theory
-:- Functions of Money
-:- Economics : Importance of Money
-:- Money supply and Reserve Money of India

11 Monetary Policy


-:- Monetary Policy of India
-:- Monetary Transmission
-:- Economics : Inflation and Deflation, Types of Inflation
-:- Effects of changes in prices
-:- Definition of Fiscal Policy or public finance
-:- Subject matter of public finance(Fiscal Policy)
-:- Meaning and definition of a tax
-:- Canons of Taxation
-:- Kinds or Types of tax
-:- Meaning, Definition and Kinds(Types) of Budget

12 Fiscal Policy


-:- Fiscal policy : Meaning, Objectives, Limitations of Fiscal policy
Mahendra Varman Mahendra Varman Mahendra Varman Mahendra Varman Mahendra Varman

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