HS 101: Economics

Course Code HS 101
Course Name Economics
Lecture 1
Tutorial 2
Practical 0
Credit 6
Reference P. A. Samuelson & W. D. nordhaus, Economics, McGraw Hill, NY, 1995. A. Koutsoyiannis, Modern Microeconomics, Macmillan, 1975. R. Pindyck and D. L. Rubinfeld, Microeconomics, Macmillan publishing company, NY, 1989. R. J. Gordon, Macroeconomics 4th edition, Little Brown and Co., Boston, 1987. William F. Shughart II, The Organization of Industry, Richard D. Irwin, Illinois, 1990.
Description Basic economic problems. resource constraints and Welfare maximizations. Nature of Economics : Positive and normative economics; Micro and macroeconomics, Basic concepts in economics. The role of the State in economic activity; market and government failures; New Economic Policy in India. Theory of utility and consumer"s choice. Theories of demand, supply and market equilibrium. Theories of firm, production and costs. Market structures. Perfect and imperfect competition, oligopoly, monopoly. An overview of macroeconomics, measurement and determination of national income. Consumption, savings, and investments. Commercial and central banking. Relationship between money, output and prices. Inflation - causes, consequences and remedies. International trade, foreign exchange and balace payments, stabilization policies : Monetary, Fiscal and Exchange rate policies.