Major · Economics · Semester 2 · FY BA · 2 credits · 50 marks · 30 hours
Module 1: Ten Principles of Economics: (15 hours) (1 Credit)
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Trade-offs faced by the individuals
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Significance of opportunity cost in decision making
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Thinking at the margin
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Responses to incentives
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Benefits from exchange
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Organization of economic activities through markets and its benefits
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Role of government in improving market outcomes
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Dependence of standard of living on production
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Growth in quantity of money and inflation
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Inflation and unemployment trade-off
Module 2: Concepts in Macroeconomics: (15 hours) (1 Credit)
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GDP, NDP, GNP, NNP, PCI, Real vs. nominal GDP, GDP deflator.
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Inflation.
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Employment and Full Employment.
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Union Budget
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Rate of Interest
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Business cycle
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Foreign Exchange Rate
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Balance of Payment
Reference Books
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1
Mankiw, N.G., Economics: Principles and Applications, Cengage Learning, 2009.
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2
Stiglitz, J.E. and C.E. Walsh, Principles of Economics, W.W. Norton, 2002.
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3
Suma Damodaran, Managerial Economics, Oxford University Press, 2006
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4
Salvatore, D.L., Microeconomics: Theory and Applications, Oxford Univ. Press, 2008.
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5
Lipsey, R.G. and A.K. Chrystal, Economics, Oxford Univ. Press, 2007.
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6
Pindyck, R.S. and D.L. Rubinfeld, Microeconomics, Pearson Education, 2008.
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7
Bradley R. Schiller, The Macro Economics Today, Tata McGraw‐ Hill, 2011.
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8
B. Douglas Bernheim and Michael D. Whinston, Microeconomics, Tata McGraw‐ Hill,2011.
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9
Sen, Anindya, Microeconomic Theory, Oxford Univ. Press, 1999.
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10
Koutsoyiannis, A., Modern Microeconomics, MacMillan Press, 1979.
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11
H.L. Ahuja, Business Economics, 1999.
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12
12) H.L. Ahuja, Principles of Microeconomics
