INTRODUCTION TO ECONOMICS

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Microeconomics: Micro Economics Introduction, Basic Definitions, Basic Economic Problems, Scarcity and opportunity Cost, Demand & Supply Analysis, Elasticity of Demand, Market Equilibrium, Production function inputs Relationship of total Average and Marginal Production, Law of Diminishing Returns, Study of Consumer Behavior Firm and Market `Organization.

Macroeconomics: Issues in Microeconomics, Key Macroeconomic Concepts, National Income Accounting, National Income, Gross Domestic Product, Measurement of GDP, Price Indexes, Consumption Function, Saving Function, Investment Function, Aggregate Demand, Goods and Money Markets Economy.

Course Syllabus