1. Introduction to Economics

 Content: This chapter introduces the concept of economics, its nature, and the central economic problems of scarcity and choice. It also covers the difference between microeconomics and macroeconomics.

 Objective: Understand the fundamental nature of economics, basic problems of an economy, and the distinction between micro and macroeconomic analysis.

 2. Theory of Consumer Behavior

 Content: Discusses consumer preferences, utility, and how consumers make decisions to maximize satisfaction. Concepts like the law of diminishing marginal utility, indifference curves, and budget constraints are covered.

 Objective: Analyze how consumers make choices based on preferences, income, and price to maximize utility.

 3. Theory of Production and Cost

 Content: Focuses on the theory of production, factors of production, and the relationship between inputs and outputs. It also explains the different types of costs such as fixed, variable, and total costs.

 Objective: Understand the production process and the cost structures faced by firms in the short and long run.

 4. Forms of Market and Price Determination

 Content: Explains various market structures such as perfect competition, monopoly, monopolistic competition, and oligopoly. It also covers how prices are determined in different market forms.

 Objective: Learn how price and output are determined under different market conditions and the impact of competition on pricing.

 5. Market Equilibrium

 Content: Explores the concept of market equilibrium, including how demand and supply interact to determine equilibrium price and quantity.

 Objective: Analyze how markets reach equilibrium and how shifts in demand and supply affect market outcomes.

 6. Introduction to Macroeconomics

 Content: Provides an introduction to macroeconomic concepts, including the study of aggregates like national income, inflation, unemployment, and economic growth.

 Objective: Understand the broad view of economics that focuses on aggregate behavior and major economic indicators.

 7. National Income and Related Aggregates

 Content: Discusses the concepts of national income, gross domestic product (GDP), gross national product (GNP), and the methods of calculating national income. It also highlights the differences between real and nominal GDP.

 Objective: Understand the methods and concepts used in calculating national income and the significance of GDP in economic analysis.

 8. Money and Banking

 Content: Explores the role of money in an economy, functions of money, the banking system, and the role of central banks. It also covers the process of credit creation.

 Objective: Gain insight into the functions of money and banking institutions and their role in economic activities.

 9. Determination of Income and Employment

 Content: Discusses the classical and Keynesian theories of income and employment determination, aggregate demand, aggregate supply, and the role of consumption, investment, and government spending.

 Objective: Understand the determinants of national income and employment in an economy, along with the role of fiscal policies.

 10. Government Budget and the Economy

 Content: Explains the components of a government budget, including revenue, expenditure, deficits, and the impact of government budgeting on economic stability and growth.

 Objective: Analyze the role of government budget in managing the economy and its impact on fiscal policy.

 11. Balance of Payments

 Content: Covers the concept of balance of payments, its components (current account and capital account), and the factors affecting international trade and exchange rates.

 Objective: Learn how international transactions are recorded and the importance of a balanced balance of payments for economic stability.

 12. Indian Economy on the Eve of Independence

 Content: Discusses the state of the Indian economy at the time of independence, including the impact of colonial rule on agriculture, industry, and trade.

 Objective: Understand the structure of the Indian economy before independence and the challenges it faced due to colonial exploitation.