Economics
Total Marks – 200
Paper I
Marks – 100
1. Micro Economics: Consumer Behaviour, Determination of market demand and supply, theory of the Firm, producer’s equilibrium pricing of the factors of production
2. Macro Economics: Basic economic concepts, National Income Accounting, consumption function and multiplier, determination of equilibrium level of income and output, inflation
3. Money and banking: Functions of money, Quantity Theory of money, the Fisher and Cambridge Formulations, systems of note issue, credit creation, functions and central banks, instruments of credit control, Theory of Liquidity Preference
4. Public Financing: Government expenditure, sources of government revenue, types of taxes, incidence of different taxes, public debt, objectives, methods of repayment, deficit financing
5. International Trade: Theory of comparative cost, arguments for protection, balance of payments, international liquidity, international money and banking institutions