1. Introduction to Microeconomics

 Content: Introduces the basic concepts of microeconomics, including the difference between microeconomics and macroeconomics. It explains the importance of economic problems like scarcity and choice, and how these problems are solved through price mechanisms.

 Objective: To understand the fundamentals of microeconomics and how individual units like consumers and firms make economic decisions.

 2. Consumer Behavior and Demand

 Content: This chapter discusses the concept of utility, the law of diminishing marginal utility, and consumer equilibrium under various conditions. It also covers demand, factors influencing demand, the law of demand, price elasticity, and income elasticity of demand.

 Objective: To understand how consumers make decisions about what to buy and how the demand for goods is affected by various factors.

 3. Producer Behavior and Supply

 Content: Explores the behavior of producers in terms of production functions, returns to a factor, and the law of variable proportions. It also covers supply, the law of supply, and factors affecting supply, along with cost and revenue concepts like total cost, marginal cost, and average cost.

 Objective: To analyze the production decisions of firms and understand the determinants of supply and cost in the economy.

 4. Forms of Market and Price Determination

 Content: This chapter explains the different types of market structures like perfect competition, monopoly, monopolistic competition, and oligopoly. It also focuses on price determination under different market conditions and the role of the government in price control.

 Objective: To comprehend how prices are determined in various types of markets and the factors that influence these prices.

 5. Simple Applications of Tools of Demand and Supply

 Content: Covers basic applications of the tools of demand and supply such as price ceilings, price floors, and subsidies. It also explores how these tools are applied in realworld situations to determine equilibrium price and quantity.

 Objective: To apply the tools of demand and supply in practical scenarios and understand the impact of government interventions on the market.

 6. National Income and Related Aggregates

 Content: This chapter focuses on macroeconomic concepts like GDP, GNP, NDP, and NNP. It explains the methods of calculating national income—income method, expenditure method, and product method. It also discusses the circular flow of income.

 Objective: To understand the process of national income accounting and the significance of national income aggregates in an economy.

 7. Money and Banking

 Content: Explains the evolution, functions, and types of money. It also covers the role of central banks and commercial banks, monetary policy tools like CRR, SLR, and repo rate, and how these institutions regulate the money supply.

 Objective: To understand the role of money in the economy and how banks and monetary policies influence economic stability.

 8. Determination of Income and Employment

 Content: This chapter focuses on aggregate demand, aggregate supply, and their interaction in determining income and employment levels in an economy. It also covers concepts like the Keynesian theory of income determination, savings, and investment.

 Objective: To analyze how income and employment levels are determined and the role of aggregate demand and supply in influencing economic activity.

 9. Government Budget and the Economy

 Content: Discusses the Objectives and components of a government budget, including revenue and capital budgets, fiscal deficit, and public debt. It also explores the role of government budgeting in economic stability and growth.

 Objective: To understand the importance of government budgets in managing the economy and ensuring sustainable fiscal policies.

 10. Balance of Payments

 Content: Explains the concept of the balance of payments, its components like the current account and capital account, and the causes and consequences of balance of payments deficits and surpluses. It also covers exchange rates and international trade.

 Objective: To understand how a country’s economic transactions with the rest of the world are recorded and how trade balances impact the overall economy.

 11. Development Experience (194790) and Economic Reforms since 1991

 Content: Focuses on India's economic development after independence, the policy framework from 1947 to 1990, and the shift toward liberalization, privatization, and globalization (LPG) since 1991. It also covers the impact of these reforms on different sectors.

 Objective: To analyze India's development trajectory and understand the significance of the 1991 economic reforms in shaping modern India's economy.

 12. Current Challenges Facing Indian Economy

 Content: This chapter discusses contemporary issues facing the Indian economy, such as poverty, unemployment, inflation, infrastructure development, and environmental concerns. It also explores policy measures adopted to address these challenges.

 Objective: To identify the key economic challenges India is currently facing and analyze the policies aimed at addressing these issues.