Economics Micro and Macro

The present Economics Micro and Macro book is a humble attempt to cover the new years’ syllabus of ‘Micro Economics’ and ‘Macro Economic’ papers I & II of Applied Economics Group of B.Com. First Year.

Joan Robinson described the economic theory as a ‘‘box of tools’’. For proper handling of our tools, we must learn how they function. This book fulfills these objectives. The authors have tried to present a clear and accurate picture of micro and macroeconomics in the most simple language and lucid style with the help of diagrams and illustrations.

The book has been thoroughly revised and enlarged. A chapter on Foreign Direct Investment has been updated.

The book contains three types of questions at the end of each chapter : (i) Long Answer Type Questions, (ii) Short Answer Type Questions and (iii) Objective Type Questions.

Questions from the latest Examination Papers of various universities of Madhya Pradesh have been included.

Economics Micro and Macro Syllabus For B.Com. I Year

Paper-I: Micro Economics

Unit – I Micro Economics – Definition, Meaning, Inductive and Deductive methods, Importance, and Limitations of Micro Economics.

Unit- II Law of Demand – Meaning and Definition, Characteristics, Types of demand, Exceptions of Law of Demand.

Unit-III Elasticity of Demand – Concept, Definition, Importance, Types, and measurement of Elasticity of demand, Production Function (with One and Two Variables), Economies–Internal and External.

Unit-IV Factors of Production – Land, Labour, Capital, Organization and Enterprise, Cost and Revenue Analysis.

Unit-V Market Structure – Concept, Definition, Characteristics, Classification, Price determination under Perfect and Imperfect competition, Marginal Productivity Theory of Distribution.

Paper-II: Macro Economics

Unit-I Macro Economics – Concept, Nature, Importance, Limitations, Difference between Micro and Macro Economics.

Unit-II National Income – Meaning, Definition, and Concept, Methods for measuring National Income in India and its Problems.

Unit-III Theories of Wages, Interest and Employment.

Unit-IV Monetary Theories – Quantity theory of Money, Modern theory of Money, Keynes’s theory of Money and Price.

Unit-V Recent Industrial Policy, Industrial Growth in Phase II and III Disinvestments, Foreign Direct Investment.

Economics Micro and Macro Book Contents

Paper-I: Micro Economics

1. Micro Economics
2. Methods of Economic Analysis: Deductive and Inductive Methods
3. Law of Demand
4. Elasticity of Demand
5. Production Function with One Variable
6. Production Function with Two Variable Inputs
7. Economies: Internal and External
8. Factors of Production: Land, Labour, Capital, Organisation, and Enterprise
9. Cost Analysis
10. Revenue Analysis
11. Market Structure
12. Price Determination under Perfect Competition
13. Price Determination under Imperfect Competition
14. Marginal Productivity Theory of Distribution

Paper-II: Macro Economics

1. Macro Economics
2. National Income
3. Theories of Wages
4. Theories of Interest
5. Classical Theory of Employment
6. Keynesian Theory of Employment
7. Quantity Theory of Money and Keynes’S Theory of Money and Prices
8. Modern Theory of Money
9. Recent Industrial Policy
10. Industrial Growth in Phase II and III
11. Disinvestment
12. Foreign Direct Investment