No.

Series Lecture Title Remarks

1 Introduction to Economics & Central
Problem of Economics
Introduction to Economics Scarcity, choice,
opportunity cost,
efficiency and growth.
Mac/Mic. Positive vs. Normative Econs.
2 Central Problem of Economics Unlimited wants > limited resources.
3 Economic Systems PPC. Free market vs. Command Economy
.4 Theories & Application of Demand and
Supply & Determination of Equilibrium
Market Prices
Basic Theory of Demand PTIDE
5 Theory of Supply CCSE
6 Determination of Equilibrium Market Prices and Output D/S Shift -> eq qty -> eq price
7 Elasticity Concepts PED: SNIT. YED: N, Y. CED: S/C. PES: SNIT
8 Application of demand and supply PED pricing. PES qty SS to P. YED output. CED prod
diff/rival/joint.
9 Key Economic Indicators and How the
Macroeconomy works
Introduction to Macroeconomic Goals and Problems Sustainable economic growth, stable prices, full
employment, BOP equilibrium.
10 National Income Accounting GNP per capita, PPP, NEW, PQLI, Gini coefficient
11 National Income Determination (Income-Expenditure Model) Y = AE = C + I + G + (X-M). C = a + bY. Multiplier.
12 National Income Determination (AD-AS Analysis) GPL & Real NI (GDP) shows stability & growth.
AD: AE = NI. AS: costs & supply capacity
13 Internal Macroeconomic Problems &
Policies
Unemployment Consequences, causes and cures (CCC) Str, cyc, frict. AD^, LRAS, make info available
14 Inflation consequences, causes and cures (CCC) DD-pull [CFP, CMP, LRAS] , cost-push
(M/wage/profit/tax/SS shock) [Forex/LRAS/law]
15 Slow-negative/unsustainable economic growth CCC
Aim: LRAS in tandem w AD^, achieve non-infl. ec. growth
Slow/neg: efpmp,Protect. Unsus: cfpmp, LRAS
LRAS: capital^, qty qlty labour, tech adv, dynamic entr.
16 How the Macroeconomy works
ERM only for excessive M, loss of X
competitiveness fr. high DD-pull infl.
I: Public Finance and Fiscal Policy DD-mg. Sg: k &G, X. I&C^, k , flexible, crowd in.
17 II: Monetary Policy (Interest Rate vs. Exchange Rate) (I&C interest inelastic), gr&emp, hard-landing
18 Supply-side Policy SR: pr contr, wage freeze, >CPF. LR: Qty, qly FOP.
19 Bilateral / Multilateral Macroeconomic
Problems and Policies
Balance of Payment Deficit CCC. CA lost, tradepr, overC M ESM (dev/protectionism), ERM, SS policies, trade policies
20 Exchange Rate Systems and Policy PPP. Gd for BOP, employmt, ec. gr, I, cost-push & dd-pull
21 How the Macroeconomy works International Economics I: International Trade and FTA
II: Globalisation
III: Protectionism
22 Microeconomic Problems Market Failure Externalities. Merit / demerit / public goods. Gvt failure.
23 How the Firms work (Microeconomics) Firms and How they Operate C, Pe, Qe, MC=MR. AR = DD. Price-taker/price-setter. PD.
24 Macroeconomic Problems & Policies Conflicting Economic Goals Prioritisation based on context of country
25 Current Affairs Labour Productivity Increasing quality of factors of production. Globalisation.
26 Demand and Supply Marginalist Principle Additional gain from additional cost