| Course Code | HS 201 |
| Course Name | Economics |
| Offered to | UG/PG |
| Pre-requisites | NIL |
| Lecture | 3 |
| Tutorial | 0 |
| Practical | 0 |
| Credit | 6 |
| Reference | The CORE team, The Economy: Economics for a Changing World, Oxford University Press, 2017. P. A. Samuelson & W. D. Nordhaus, Economics, McGraw Hill, NY, 1995 Gregory Mankiw, Principles of Economics, South-Western Cengage Learning, 2012. |
| Description | This course will provide an introduction to the subject matter of Economics, which is highly relevant to understand the functioning of the economy and the world around us. The course broadly covers the following topics: Basic economic problems and questions about the economy. Economic decision making. Theory of utility and consumer’s choice. Theories of demand, supply, and market equilibrium. Theories of the firm, production, and costs. Economic relationships and interactions, 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 balance payments, stabilization policies: Monetary, Fiscal and Exchange rate policies. |