BOARD OF INTERMEDIATE EDUCATION:HYDERABAD

Economics-I - SYLLABUS (w.e.f. 2014-15)

Unit – I Introduction
1.0 Origin and Meaning of Economics
1.1 Definitions of Economics
1.1.1 Wealth Definition
1.1.2 Welfare Definition
1.1.3 Scarcity Definition
1.1.4 Growth Definition
1.1.5 Jacob Viner’s Definition
1.2 Concepts of Economics
1.2.1 Micro Economics
1.2.2 Scope of Micro Economics
1.2.3 Importance of Micro Economics
1.2.4 Macro Economics
1.2.5 Scope of Macro Economics
1.2.6 Importance of Macro Economics
1.3 Deductive and Inductive Methods
1.3.1 Deductive Method
1.3.2 Inductive Method
1.4 Economic Static and Dynamic Analysis
1.4.1 Economic Statics
1.4.2 Economic Dynamics
1.5 Positive and Normative Economics
1.5.1 Positive Economics
1.5.2 Normative Economics
1.6 Goods
1.6.1 Free Goods
1.6.2 Economic Goods
1.6.3 Differences between Free Goods and Economic Goods
1.6.4 Consumer Goods
1.6.5 Producer Or Capital Goods
1.6.6 Intermediary Goods
1.7 Wealth
1.8 Income
1.9 Utility
1.9.1 Types of Utility
1.10 Value
1.11 Price
1.12 Wants
1.13 Welfare
1.14 Model Questions
1.15 Glossary
1.16 Referneces
Unit – II Theory of Consumers Behaviour
2.0 Objectives
1
 2.1 What is Utility
2.2 Cardinal Utility
2.3 Ordinal Utility
2.4 Law of Diminishing Marginal Utility
2.5 Law of Equi-marginal Utility
2.6 Indifference Curve Analysis
2.7 Properties
2.8 Consumer’s Equilibrium
2.9 Summary
2.10 Model Questions
2.11 Glossary
2.12 References
Unit – III Theory of Demand
3.0 Introduction
3.1 Meaning of Demand
3.2 Demand Function
3.3 Determinants of Demand
3.4 Price Demand – Law of Demand
3.4.1 Demand Schedule
3.4.2 Individual Demand Schedule
3.4.3 Individual Demand Curve
3.4.4 Market Demand Schedule
3.4.5 Market Demand Curve
3.4.6 Law of Demand
3.4.7 Exceptions to the Law of Demand
3.4.8 Reasons for the Downward or Negative Slope
of Demand Curve
3.4.9 Changes in Demand - Extension - Contraction
Increase and Decrease
3.5 Income Demand
3.5.1 Income Demand Schedule
3.5.2 Superior / Normal Goods
3.5.3 Inferior Goods
3.6 Cross Demand
3.6.1 Substitutes
3.6.2 Complimentaries
3.7 Meaning of Elasticity of Demand
3.8 Types of Elasticity of Demand
3.9 Price Elasticity of Demand - Definition - Formula
3.9.1 Types of Price Elasticity of Demand
3.9.2 Methods of Measurement of Price Elasticity of Demand
(1) Expenditure Method (2) Point Method (3) Arc Method
3.9.3 Determinants of Price Elasticity of Demand
3.9.4 Importance of Price Elasticity of Demand
3.10 Income Elasticity of Demand

2
 3.11 Cross Elasticity of Demand
3.12 Model Questions
3.13 Glossary
3.14 References.

Unit – IV Theory of Production

4.0 Meaning of Production
4.1 Factors of Production
4.2 Production Function
4.3 Law of Variable Proportions
4.4 Law of Returns to Scale
4.5 Internal and External Economics
4.6 Supply
4.7 Cost and Cost Curves
4.8 Revenue Analysis
4.9 Model Questions
4.10 Glossary
4.11 References
Unit – V Theory of Value
5.0 Introduction
5.1 Meaning
5.2 Classification of Markets
5.2.1 Time-Based Markets
5.2.2 Area Based Markets
5.2.3 Competition Based Markets
5.3 Perfect Competition
5.3.1 Price Determination
5.3.2 Equilibrium of a Firm
5.4 Imperfect Competition
5.4.1 Monopoly
5.4.2 Monopolistic Competition
5.4.3 Oligopoly
5.4.4 Duopoly
5.5 Model Questions
5.6 Glossary
5.7 References
Unit – VI Theory of Distribution
6.0 Introduction
6.1 Distribution of income
6.2 Determination of factor prices
6.3 Marginal productivity Theory
6.4 Rent – Concepts – Theories
6.5 Wage – Concepts – Theories
6.6 Interest – Concepts – Theories
6.7 Profit – Concepts – Theories

3
 6.8 Model Questions
6.9 Glossary
6.10 References
Unit – VII National Income
7.0 Introduction
7.1 Meaning
7.2 Definitions of National Income
7.2.1 Pigou’s Definition
7.2.2 Fisher’s Definition
7.2.3 Marshall’s Definition
7.2.4 Kuznet’s Definition
7.3 Factors that Determine the Size of National Income
7.4 Concepts of National Income
7.5 Components of National Income
7.6 Measurement of National Income
7.7 NI at Market Prices
7.8 Model Questions
7.9 Glossary
7.10 References
Unit – VIII Macro Economic Aspects
8.0 Introduction
8.1 Classical economics
8.2 Concepts of Full Employment and Unemployment
8.3 Income, Output and Employment
8.4 Classical Theory of Employment
8.4.1 Implications of Classical Theory
8.4.2 Assumptions
8.4.3 Limitations of the Classical Theory
8.5 Keynesian theory of income and employment
8.5.1 Aggregate Supply
8.5.2 Aggregate Demand
8.5.3 Effective Demand
8.5.4 Inflationary Gap
8.6 Public Economics
8.6.1 Public Revenue
8.6.2 Public Expenditure
8.6.3 Public Debt
8.7 Budget
8.7.1 Structure and Components of the Budget
8.7.2 Types of Budget
8.7.3 Budget Deficits

4
 8.8 Model Questions
8.9 Glossary
8.10 References

Unit – IX Money, Banking and Inflation

9.0 Introduction
9.1 Money
9.1.1 Evolution of money
9.1.2 Difficulties of the Barter system
9.1.3 Definitions of Money
9.1.4 Functions of money
9.1.5 Money and related concepts
9.1.6 Types of money
9.1.7 Supply of money
9.2 Banking
9.2.1 Commercial Banks
9.2.2 Functions of Commercial Banks
9.3 Central Bank/ Reserve Bank of India
9.4 Reserve Bank of India (Central Bank of India)
9.4.1 Objectives of the Reserve Bank of India/Central Bank of India
9.4.2 Functions of the Reserve Bank of India
9.5 Inflation
9.5.1 Definitions of inflation
9.5.2 Types of Inflation
9.5.3 Causes of Inflation
9.5.4 Effects of inflation
9.5.5 Measures to Control inflation
9.6 Conclusion
9.7 Model Question
9.8 Glossary
9.9 Reference Books
Unit – X Economic Statistics
10.1 Economics
10.2 Statistics in Economics
10.3 What is Statistics?
10.4 What statistics does?
10.5 Conclusion
10.6 Collection of Data
10.7 Diagrammatic Presentation of Data
10.8 Geometric Diagram
10.9 Bar Diagram
10.10 Simple Bar Diagram
10.11 Multiple Bar Diagram

5
10.12 Component Bar diagram
10.13 Pie Diagram
10.14 Measure of Central Tendency
10.15 Arithmetic Mean
10.16 Mean calculating under ungrouped data
10.17 Mean calculating under Grouped Data Direct Method
10.18 Shortcut method or Deviation Method for Mean of a Grouped Data
10.19 Median
10.20 Median of a Grouped Data
10.21 Mode
10.22 Approximate Relation among, Mean, Median, Mode
10.23 Model Questions
10.24 References

***

6
 ECONOMICS FIRST YEAR

Question Paper Pattern / Design

Sub:- Economics
Paper:- I
Time:- 3 hours
Marks:- 100

I Weighatage of Objectives

Objectives Knowledge Understanding Application Skills Total

Percentage 40% 30% 15% 15% 100
of Marks

II Weighatage of Form of Questions

Type of Long Answer Short Answer Very Short Total

Questions Sec A Sec B Answer Sec C
No of 3/5 8/12 15/20 26/37
Questions to
be answered
Marks Alloted 30/50 40/60 30/40 100/50
Estimated 70 80 30 180
time Mnts

III Weighatage to Content

Unit Topic Marks Essay Short

VShort
1. Introduction – Economics 09 0 1 2
2. Theory of Consumption 19 1 1 2
3. Theory of Demand 19 1 1 2
4. Theory of Production 14 1 0 2
5. Theory of Value 19 1 1 2
6. Theory of Distribution 07 0 1 1
7. National Income 19 1 1 2
8. Macro Economic Aspects 17 0 3 1
9. Money, Banking, Inflaton 16 0 2 3
10 Economics Statistics 11 0 1 3