Topics
National Income and Related Aggregates
- Macroeconomics Vs Microeconomics
- Representative Goods and Sectors
- Macroeconomic Agents and Government Role
- Emergence of Macroeconomics
- Context of the Present Book of Macroeconomics
- Meaning of Economic Wealth and Final Goods
- Stocks, Flows, and Depreciation
- Capital Formation, Trade-off & Circular Flow of Income
- Circular Flow of Income and Methods of Calculating National Income
- Output Method/Product Method
- Expenditure Method
- Income Method
- Factor Cost, Basic Prices and Market Prices
- Some Macroeconomic Identities
- National Disposable Income
- Private Income
- National Income Aggregates
- Real GDP and Nominal GDP
- GDP and Welfare
Introductory Macroeconomics
Introduction
- A Simple Economy
- Central Problems of an Economy
- Concepts of Production Possibility Frontier
- Organisation of Economic Activities
- Positive and Normative Economics
- Macroeconomics Vs Microeconomics
Development Experience (1947-90) and Economic Reforms since 1991
- India's Economy Before Independence
- Low Level of Economic Development Under the Colonial Rule
- Agricultural Sector in India
- Industrial Sector
- Foreign Trade of India
- Demographic Condition
- Occupational Structure
- Infrastructure
- Post-Independence Economic Systems and Planning
- Five Year Plans (FYP)
- Agriculture
- Industry and Trade
- Trade Policy: Import Substitution
- The 1991 Economic Crisis and Reforms
- Background of the New Economic Policy
- Liberalisation
- Privatisation
- Globalisation
- World Trade Organisation (WTO)
- Impact of the Economic Reforms
Current Challenges Facing Indian Economy
- Concept of Human Capital
- Sources of Human Capital
- Human Capital and Economic Growth
- Human Capital and Human Development
- State of Human Capital Formation in India
- Growth of Education Sector in India
- Challenges and Future Prospects in Education
- Rural Development in India
- Credit and Marketing in Rural Areas
- Agricultural Market System
- Diversification into Productive Activities
- Sustainable Development and Organic Farming
- The Nature and Importance of Work in Society
- Workers and Employment
- Participation of People in Employment
- Self-employed and Hired Workers
- Employment in Firms, Factories and Offices
- Growth and Changing Structure of Employment
- Informalisation of Indian Workforce
- Concept of Unemployment
- Government and Employment Generation
- Environment and Sustainable Development in India
- State of India’s Environment
- Concept of Sustainable Development
- Strategies for Sustainable Development
Money and Banking
- Concept of Money
- Functions of Money
- Demand for Money and Supply of Money
- Money Creation by Banking System
- Limits to Credit Creation and Money Multiplier
- Policy Tools To Control Money Supply
- Demand and Supply for Money : A Detailed Discussion
- The Transaction Motive
- The Speculative Motive
- Various Measures of Supply of Money
- Narrow and Broad Money
- Demonetisation
Theory of Consumer Behaviour
- Consumer Behaviour: The Problem of Choice
- Basic Concepts of Microeconomics > Utility
- Cardinal Approach (Utility Analysis)
- Derivation of Demand Curve in the Case of a Single Commodity
- Ordinal Utility Analysis/Indifference Curve Analysis
Indian Economic Development
Determination of Income and Employment
- Aggregate Demand and Its Components
- Consumption
- Investment
- Determination of Income in Two-sector Model
- Determination of Equilibrium Income in the Short Run
- Macroeconomic Equilibrium with Price Level Fixed
- Effect of an Autonomous Change in Aggregate Demand on Income and Output
- The Multiplier Mechanism
- Paradox of Thrift
- Equilibrium Output and Employment
Development Experience of India – a Comparison with Neighbours
Introductory Microeconomics
Production and Costs
- Production Function
- Basics of Production Theory
- Variation of Output in the Short-Run Returns to a Factor
- Relation Between Total, Average and Marginal Product
- Law of Variable Proportions
- Average and Marginal Physical Products
- Changes in Production
- Cost - Fixed Cost
- Cost -variable Cost
- Behaviour of Cost in the Short - Run
- Relationship Between Average Variable Cost and Average Total Cost and Marginal Cost
- Concept of Opportunity Cost
- Marginal Revenue
- Producer's Equilibrium
- Law of Supply
- Market Supply Schedule
- Distinguish between Stock and Supply
- Determinants of Supply
- Movements Along and Shifts in Supply Curve
- Measurement of Elasticity of Supply > Percentage Method
- Methods of Measurement of National Income
- Cost Concepts > Marginal Cost
- The Law of Diminishing Marginal Product
- Shapes of Product Curves
- Costs in Long Run Period
- Returns to Scale
The Theory of the Firm Under Perfect Competition
- Concept of Market
- Market Equilibrium
- Determination of Market Equilibrium
- Effects of Changes (Shifts) in Demand on Equilibrium Price and Equilibrium Quantity
- Perfect Competition
- Imperfect Competition
- Classification of Market Structure
- Oligopoly
- Market Forms - Perfect Oligopoly
- Market Forms - Imperfect Oligopoly
- Equilibrium Price
- Applications of Tools of Demand and Supply Price Control
- Price Ceiling
- Price Floor
- Revenue Concepts
- Profit Maximisation Objective
- Determinants of a Firm’s Supply Curve
- Market Supply Schedule
- Price Elasticity of Supply
Government Budget and the Economy
Market Equilibrium
- Simple Monopoly in the Commodity Market
- Other Non - Perfectly Competitive Markets
Balance of Payments
- Open Economy and Its Linkages
- Concept of Balance of Payments
- Current Account
- Capital Account
- Balance of Payments Surplus and Deficit
- Foreign Exchange Market
- Foreign Exchange Rate
- Determination of the Exchange Rate
- Merits and Demerits of Flexible and Fixed Exchange Rate Systems
- Managed Floating Exchange Rate System
Estimated time: 12 minutes
CBSE: Class 12
Introduction
- Human development indicators are measurable values used to assess how development has improved the quality of human life in a country.
- They cover dimensions of income, health, education, sanitation, poverty, and liberty.
CBSE: Class 12
Comparative Data: India, China & Pakistan (2017–2023)
| Indicator | India | China | Pakistan |
|---|---|---|---|
|
Human Development Index (Value) |
0.685 | 0.797 | 0.544 |
| Rank (based on HDI) | 130 | 78 | 168 |
| Life Expectancy (years) | 72.0 | 78.0 | 67.6 |
| Mean Years of Schooling (15+) | 6.9 | 8.0 | 4.3 |
| Gross National Income per Capita (PPP US\[$\]) | 9,047 | 22,029 | 5,501 |
| Below Poverty Line (%) | 21.9 (2019–21) | 0.0 (2023) | 21.9 (2023) |
| Infant Mortality (per 1,000) | 25.5 | 4.8 | 51 |
| Maternal Mortality (per 1 lakh) | 103 | 23 | 154 |
| Basic Sanitation (%) | 78 | 96 | 71 |
| Basic Drinking Water (%) | 93 | 98 | 91 |
| Undernourishment (%) | 17 | 3 | 19 |
CBSE: Class 12
Key Observations
- China is ahead of both India and Pakistan across most indicators — including GNI per capita, poverty elimination, infant mortality, sanitation, life expectancy, and undernourishment.
- India and Pakistan both lag on maternal mortality rate compared to China.
- Pakistan has the lowest HDI (0.544, Rank 168) among the three and the highest infant mortality (51) and maternal mortality (154).
- China has virtually eliminated poverty at 0.0%, while India and Pakistan remain at 21.9% each.
CBSE: Class 12
Liberty Indicators
Existing human development indicators are incomplete without liberty indicators.
Liberty indicators include:
- Democratic participation
- Constitutional protection of citizens' rights
- Independence of the judiciary
- Rule of law
It is argued that liberty indicators should have overriding importance in any human development index.
CBSE: Class 12
Key Points: Indicators of Human Development
- Human development is measured through income, health, education, sanitation and poverty.
- China has the highest HDI (0.797, Rank 78); Pakistan has the lowest (0.544, Rank 168).
- China has 0% extreme poverty and performs best in sanitation, drinking water and nutrition.
- Pakistan has the highest infant and maternal mortality among the three countries.
- Liberty indicators (democracy, rights, judicial independence and rule of law) are not included in HDI but are important for overall human development.
Related QuestionsVIEW ALL [9]
On the basis of the given data:
| Some Selected Indicators of Human Development, 2017-2019 | |||
| Item | India | China | Pakistan |
| Human Development Index (Value) | 0.645 | 0.761 | 0.557 |
| Rank (based on HDI) | 130 | 87 | 154 |
| Life Expectancy at Birth (years) | 69.7 | 76.9 | 67.3 |
| Mean years of Schooling (% aged 15 and above) |
6.5 | 8.1 | 5.2 |
| Gross National Income per capita (PPP US$) | 6681 | 16.057 | 5005 |
| Percentage of people living Below Poverty Line (National) | 21.9* | 1.7** | 24.3* |
| Infant Mortality Rate (per 1000 live births) |
29.9 | 7.4 | 57.2 |
| Maternal Mortality Rate (per 1 lakh births) |
133 | 29 | 140 |
| Population using at least basic Sanitation (%) | 60 | 75 | 60 |
| Population using at least basic drinking Water Source (%) | 93 | 96 | 91 |
| Percentage of Undernourished Children | 37.9 | 8.1 | 37.6 |
- Identify one income indicator and one health indicator, each.
- Compare India and China on the basis of any one of the indicator identified above in part (i)
