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Basic Economics

Module 4 · Fundamental economic concepts and public policy.

Microeconomics Macroeconomics Indian Economy

Microeconomics Basics

Supply and Demand: Market equilibrium, price mechanisms
Elasticity: Price, income, and cross elasticity
Market Structures: Perfect competition, monopoly, oligopoly, monopolistic competition
Consumer and Producer Theory: Utility, cost curves, profit maximization

Macroeconomics Basics

National Income: GDP, GNP, NDP, per capita income
Inflation and Deflation: Causes, types, measurement (WPI, CPI)
Monetary Policy: RBI, repo rate, reverse repo, CRR, SLR
Fiscal Policy: Budget, taxation, government spending, deficit
Banking: Commercial banks, central bank functions, NBFCs

Indian Economy

Economic Planning: Five-year plans, NITI Aayog
Sectors: Agriculture, industry, services — contributions and challenges
Poverty and Unemployment: Measurement, schemes, structural issues
Foreign Trade: Balance of payments, exports, imports, FDI
Liberalization: 1991 reforms, privatization, globalization

Resources

Note: This is a template. Add YouTube links, book recommendations, and concise notes here as the syllabus evolves.