Module I � Introduction

Definition & Subject mater of Economics � micro and Macro, Methodology � Partial, static and dynamic, Positive and Normation approaches, decision making under different Economical Systems.

Module II � Theory of Demand

Utility, Analysis � Cardinal utility approach, Law of Diminishing Marginal Utility- Consumer�s equilibrium � Law of Equi marginal utility. Law of Demand, Price, Income, Cross demand, Elasticities of Demand. Measurement of elasticity, Consumer�s surplus.

Module III � Ordinal Utility Approach

Indifference Curve analysis � Properties of Indifference curves � Consumer�s Equilibrium � Price, Income and substitution Effects � Types of goods � Normal, Inferior and griffin goods.

Module IV � Theory of Production

Production Functions, Law of variable proportion � Isoquants � scale of production � Returns to scale � Internal and External Economies � Concept of optimum firm, money, rel and opportunity cost � Total Average and marginal costs and revenues � Law of supply � Elasticity of supply � supply curves in the long run and short run.

BOOKS RECOMMENDED

Stonier Staggue - A Text Book of Economics
M.L.Seth - Principles of Economics
K.K.Dewett - Modern Economic Theory
A.L.Mayers - Elements of Modern Economics
Hanson - Text Book of Economics
H.S.Agarwal - Modern Micro Economics