Economic Theories

Units:

Unit 1: Microeconomics

Consumer Theory, Demand Analysis, Production & Cost, Market Structures, Game Theory, Decision under Uncertainty, Factor Pricing, General Equilibrium, Welfare Economics, Information Economics

Unit 2: Macroeconomics

National Income, Classical & Keynesian Models, Consumption & Investment Theories, Money Supply, IS-LM Model, AD-AS Model, Inflation, Business Cycles, Economic Growth Models

Unit 3: Statistics and Econometrics

Descriptive Statistics, Probability, Sampling, Estimation, Hypothesis Testing, Correlation, Regression, OLS, Dummy Variables, Time Series, Panel Data, Econometric Problems

Unit 4: Mathematical Economics

Sets, Functions, Matrices, Linear Algebra, Calculus, Partial Differentiation, Integration, Optimization, Lagrange Method, Difference & Differential Equations, Linear Programming

Unit 5: International Economics

Trade Theories, Tariffs & Quotas, Balance of Payments, Exchange Rate Systems, WTO, IMF, World Bank, Regional Trade Agreements, Open Economy Macroeconomics

Unit 6: Public Economics

Public Goods, Externalities, Taxation, Public Expenditure, Fiscal Policy, Budget, Public Debt, Cost-Benefit Analysis, Fiscal Federalism

Unit 7: Money and Banking

Commercial Banking, Central Banking, Monetary Policy, Credit Creation, Financial Markets, Banking Reforms, Financial Inclusion, Basel Norms, Digital Banking

Unit 8: Growth and Development Economics

Growth Models, Development Theories, Poverty, Inequality, Human Development, Sustainable Development, Inclusive Growth, Gender Development, SDGs

Unit 9: Environmental Economics & Demography

Environmental Valuation, Pollution, Climate Change, Carbon Tax, Natural Resources, Population Theories, Migration, Urbanization, Demographic Transition

Unit 10: Indian Economy

Economic Planning, NITI Aayog, Agriculture, Industry, Services, Labour Market, Poverty, Inflation, Banking, External Sector, GST, Economic Reforms, Digital Economy, Atmanirbhar Bharat

Unit 11: Welfare Economics

Basic Concepts of Welfare, Individual Welfare, Social Welfare, Efficiency and Equity, Pareto Improvement, Pareto Optimality (Pareto Efficiency), Pareto Conditions (Exchange, Production and Product Mix Efficiency), Social Welfare Function (Bergson-Samuelson), Compensation Principles (Kaldor Criterion, Hicks Criterion, Scitovsky Criterion, Kaldor-Hicks Compensation Principle), Market Failure, Deadweight Loss, Externalities (Positive & Negative), Pigouvian Tax and Subsidy, Coase Theorem, Public Goods, Free Rider Problem, Samuelson Condition, Arrow's Social Choice Theory, Arrow's Impossibility Theorem, Amartya Sen's Capability Approach, New Welfare Economics, First Fundamental Theorem of Welfare Economics, Second Fundamental Theorem of Welfare Economics.

Each unit will be explained in detail covering all the relevant topics and date wise economic events will be updated alongside.