Dr Asad Ahmad,s Blog for Economics 11 and. 12

In this Blog you will find chapter wise videos, notes, sample questions and many more. Visit blog to get more information.

Part A: Introductory Macroeconomics

Unit 1: National Income and Related Aggregates

  • What is Macroeconomics?
  • Basic concepts in macroeconomics:
  • consumption goods,
  • capital goods,
  • final goods,
  • intermediate goods
  • stocks and flows
  • gross investment and depreciation.
  • Circular flow of income (two sector model)
  • Methods of calculating National Income
  •  Value Added or Product method,
  • Expenditure method, Income method.
  • Aggregates related to National Income:
  • Gross National Product (GNP),
  • Net National Product (NNP),
  • Gross Domestic Product (GDP)
  • Net Domestic Product (NDP) – at market price, at factor cost
  • Real and Nominal GDP.
  • GDP and Welfare

Unit 2: Money and Banking

Unit 3: Determination of Income and Employment

  • Aggregate demand and its components.
  • Propensity to consume and propensity to save (average and marginal)
  • Short-run equilibrium output
  • investment multiplier and its mechanism
  • Meaning of full employment and involuntary unemployment.
  • Problems of excess demand and deficient demand
  • measures to correct them – changes in government spending
  • taxes and money supply.

Unit 4: Government Budget and the Economy

  • Government budget – meaning
  • objectives and components.
  • Classification of receipts – revenue receipts and capital receipts
  • classification of expenditure –
  • revenue expenditure
  • capital expenditure.
  • Measures of government deficit – revenue deficit
  • fiscal deficit,
  • primary deficit their meaning.

Unit 5: Balance of Payments

  • Balance of payments account – meaning and components
  • balance of payments deficit- meaning.
  • Foreign exchange rate – meaning of fixed and flexible rates and managed floating.
  • Determination of exchange rate in a free market.

Part B: Indian Economic Development

Unit 6: Development Experience (1947-90) and Economic Reforms since 1991:

  • A brief introduction of the state of Indian economy on the eve of independence.
  • Indian economic system and common goals of Five Year Plans.
  • Main features,
  • problems and policies of agriculture (institutional aspects and new agricultural strategy),
  • industry (IPR 1956; SSI – role & importance) and foreign trade.
  • Economic Reforms since 1991:
  • Features and appraisals of liberalisation,
  • globalisation and privatisation (LPG policy)
  • Concepts of demonetization and GST

Unit 7: Current challenges facing Indian Economy

  • Poverty- absolute and relative;
  • Main programmes for poverty alleviation: A critical assessment;
  • Human Capital Formation: How people become resource;
  • Role of human capital in economic development;
  • Growth of Education Sector in India
  • Rural development: Key issues – credit and marketing – role of cooperatives;
  • agricultural diversification; alternative farming – organic farming
  • Employment: Growth and changes in work force participation rate in formal and informal sectors;
  • problems and policies
  • Infrastructure: Meaning and Types:
  • Case Studies:
  • Energy and Health: Problems and Policies- A critical assessment;
  • Sustainable Economic Development: Meaning,
  • Effects of Economic Development on Resources and Environment, including global warming

Unit 8: Development Experience of India

  • A comparison with neighbours
  • India and Pakistan
  • India and China
  • Issues: economic growth, population, sectoral development and other Human Development Indicators