Patna University, Bihar, Accounts , Principle of Economics (Subsidiary) Syllabus

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Unit - 1 Nature and scope of Economics

Unit – 1

Nature and scope of Economics

1.1 Nature and scope of Economics

1.2 Marshall and Robbin’s Definitions of Economics — Positive and Normative Economics

1.3 Nature of Economic Laws

1.4 Micro and Macro Economics

Unit - 2 Economic systems

Unit – 2

Economic systems

2.1 Economic systems and their Basic features Differences between them

2.2 The function of an Economic System Features Merits and Demerits of Capitalism Socialism and Mixed Economy.

Unit - 3 Theory and Demand

Unit – 3

Theory and Demand

3.1 Theory and Demand — Law of Demand

3.2 Elasticity of Demand Consumers Surplus

3.3 Indifference Curve Analysis

Unit - 4 Production

Unit – 4

Production

4.1 Production Law of Returns

4.2 Elementary idea of Production Function and IsoProduct Curve

4.3 Nature of Costs Fixed and variable costs

4.4 Total Average and Marginal Cost.

Unit - 5 Theory of Product Pricing

Unit – 5

Theory of Product Pricing

5.1 Pricing and output under perfect competition—Nature of Perfect competition

5.2 Pricing and output in the Market Period

5.3 Short period and Long Period

5.4 Equilibrium of the Firm under Perfect Competition

5.5 Pricing and output under Monopoly—Meaning of Monopoly

5.6 Cost and Revenue Analysis in Monopoly

5.7 Shortrun and Longrun

5.8 Equilibrium under Monopoly

5.9 Price Discrimination under Monopoly

5.10 National IncomeMeaning of GNP NNP GDP NDP

5.11 Theory of Distribution or theory of Factor Pricing

5.12 Theories of Rent Wages Interest and Profit

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