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CBSE Class 12 Economics

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Macroeconomics


1. Introduction

1.1 Emergence of Macroeconomics

1.2 Context of the Present Book of Macroeconomics

2. National Income Accounting

2.1 Some Basic Concepts of Macroeconomics

2.2 Circular Flow of Income and Methods of Calculating National Income

2.3 Some Macroeconomic Identities

2.4 Goods and Prices

2.5 GDP and Welfare

3. Money And Banking

3.1 Functions of Money

3.2 Demand for Money

3.3 The Supply of Money

4. Income Determination

4.1 Ex Ante and Ex Post

4.2 Movement Along a Curve Versus Shift of a Curve

4.3 The Short Run Fixed Price Analysis of the Product Market

5. The Government: Budget And The Economy

5.1 Components Of The Government Budget

5.2 Fiscal Policy

6. Open Economy Macroeconomics

6.1 The Balance Of Payments

6.2 The Foreign Exchange Market

6.3 The Determination Of Income In An Open Economy

6.4 Trade Deficits, Savings And Investment


Microeconomics


1. Introduction

1.1 A Simple Economy

1.2 Central Problems Of An Economy

1.3 Organisation Of Economic Activities

1.4 Positive And Normative Economics

1.5 Microeconomics And Macroeconomics

1.6 Plan Of The Book

2. Theory Of Consumer Behaviour

2.1 The Consumer's Budget

2.2 Preferences Of The Consumer

2.3 Optimal Choice Of The Consumer

2.4 Demand

2.5 Market Demand

2.6 Elasticity Of Demand

3. Production And Costs

3.1 Production Function

3.2 The Short Run And The Long Run

3.3 Total Product, Average Product And Marginal Product

3.4 The Law Of Diminishing Marginal Product And The Law Of Variable Proportions

3.5 Shapes Of Total Product, Marginal Product And Average Product Curves

3.6 Returns To Scale

3.7 Costs

4. The Theory Of The Firm Under Perfect Competition

4.1 Perfect Competition: Defining Features

4.2 Revenue

4.3 Profit Maximisation

4.4 Supply Curve Of A Firm

4.5 Determinants Of A Firm's Supply Curve

4.6 Market Supply Curve

4.7 Price Elasticity Of Supply

5. Market Equilibrium

5.1 Equilibrium, Excess Demand, Excess Supply

5.2 Applications

6. Non–Competitive Markets

6.1 Simple Monopoly In The Commodity Market

6.2 Other Non–Perfectly Competitive Markets


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