Topics
Micro Economics
Introduction to Micro and Macro Economics
Utility Analysis
- Utility
- Types of Utility
- Concepts of Utility
- Relationship Between Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Assumptions of Diminishing Marginal Utility
- Exceptions to the Law of Diminishing Marginal Utility
- Criticisms of the Diminishing Marginal Utility
- Significance of the Diminishing Marginal Utility
- Relationship Between Marginal Utility and Price
- Diminishing Marginal Utility
Macro Economics
Demand Analysis
Elasticity of Demand
Supply Analysis
Forms of Market
Index Numbers
National Income
- Concept of National Income
- Features of National Income
- Circular Flow of National Income
- Different Concepts of National Income
- Methods of Measurement of National Income
- Output Method/Product Method
- Income Method
- Expenditure Method
- Difficulties in the Measurement of National Income
- Importance of National Income Analysis
Public Finance in India
Money Market and Capital Market in India
- Financial Market
- Money Market in India
- Structure of Money Market in India
- Organized Sector
- Reserve Bank of India (RBI)
- Commercial Banks
- Co-operative Banks
- Development Financial Institutions (DFIs)
- Discount and Finance House of India (DFHI)
- Unorganized Sector
- Role of Money Market in India
- Problems of the Indian Money Market
- Reforms Introduced in the Money Market
- Capital Market in India
- Structure of Capital Market in India
- Role of Capital Market in India
- Problems of the Capital Market
- Reforms Introduced in the Capital Market
Foreign Trade of India
Introduction to Micro Economics
- Features of Micro Economics
- Analysis of Market Structure
- Importance of Micro Economics
- Micro Economics - Slicing Method
- Use of Marginalism Principle in Micro Economics
- Micro Economics - Price Theory
- Micro Economic - Price Determination
- Micro Economics - Working of a Free Market Economy
- Micro Economics - International Trade and Public Finance
- Basis of Welfare Economics
- Micro Economics - Useful to Government
- Assumption of Micro Economic Analysis
- Meaning of Micro and Macro Economics
Consumers Behavior
Analysis of Demand and Elasticity of Demand
Analysis of Supply
Types of Market and Price Determination Under Perfect Competition
Factors of Production
Introduction to Macro Economics
National Income
Determinants of Aggregates
Money
Commercial Bank
Central Bank
Public Economics
- Introduction of Public Economics
- Features of Public Economics
- Meaning of Government Budget
- Objectives of Government Budget
- Features of Government Budget
- Public Economics - Budget (1 Year)(1 April to 31 March)
- Types of Budget
- Taxable Income
- Budgetary Accounting in India
- Budgetary Accounting - Consolidated , Contingency and Public Fund
- Components of Budget
- Factor Influencing Government Budget
Notes
Types of Elasticity of Demand:
1) Income Elasticity:
It refers to the degree of responsiveness of a change in quantity demanded to a change in the income only, other factors including price remain unchanged. It is expressed as :
`"Ey" = "Percentage change in Qty. Demanded"/"Percentage change in Income"`
`"Ey" = "% Δ Q"/"% ΔY"`
`="ΔQ"/"Q"÷"ΔY"/"Y"`
`="ΔQ"/"Q"xx"Y"/"ΔY"`
Where,
Δ = Represents Change
Q = Orignal demand
Y = Orignal income
ΔQ = Change in quantity demanded
ΔY = Change in income of a consumer
You should know :
• Positive income elasticity:
Normal goods for which demand increases with increase in income.
• Negative income elasticity:
Inferior or goods for which demand decreases with increase in income of consumer.
• Zero income elasticity:
Necessary goods for which demand remains constant with increase in income of the consumer.
2) Cross elasticity :
It refers to a change in quantity demanded of one commodity due to a change in the price of other commodity. (Complementary goods or substitutes)
`"Ec" ="Percentage change in Qty. demanded of A"/"Percentage change in Price of B"`
Symbolically,
`"Ec"="%ΔQ"_"A"/"%ΔP"_"B"`
`="ΔQ"_"A"/"Q"_"A"÷"ΔP"_"B"/"P"_"B"`
`="ΔQ"_"A"/"Q"_"A"xx"P"_"B"/"ΔP"_"B"`
Where,
QA = Original quantity demanded of commodity A
QA= Change in quantity demanded of commodity A
PB = Original price of commodity B
ΔPB = Change in price of commodity B
You should know :
• Positive cross elasticity :
Substitute goods. Example, tea and coffee.
• Negative cross elasticity : Complementary goods. Example, tea and sugar.
• Zero cross elasticity : Non-related goods. Example, tea and books.
3) Price elasticity :
According to Prof. Alfred Marshall, price elasticity of demand is a ratio of proportionate change in the quantity demanded of a commodity to a given proportionate change in its price only.
`"Ed" ="Percentage change in Qty. demanded"/"Percentage change in Price"`
`"Ed"="%ΔQ"/"%ΔP"`
`="ΔQ"/"Q"÷"ΔP"/"P"`
`="ΔQ"/"Q"xx"P"/"ΔP"`
Where,
Q = Original quantity demanded
ΔQ = Difference between the new quantity and original quantity demanded
P = Original price
ΔP = Difference between new price and original price
