Economics
- Lecture Notes, Study Materials and Important questions answers

Subject : Economics

1 Economic Growth and Development

1. Indian Economy : Economic Growth and Development - Answer (click here)
2. Characteristics of underdeveloped countries - Answer (click here)
3. Role of the State in Economic Development - Answer (click here)
4. Rostow's Stages of Economic Growth - Answer (click here)

2 Population

1. Population and Factors determining population growth - Answer (click here)
2. Causes of Population Explosion - Answer (click here)
3. Population Explosion as an obstacle to Economic Development - Answer (click here)
4. Steps to check rapid growth of population - Answer (click here)
5. Theories of Population : Malthusian, Demographic Transition - Answer (click here)
6. Census and The Use of Population Census - Answer (click here)
7. Population growth in India and National Population Policy 2000 - Measures, Action Plans - Answer (click here)

3 Poverty and Unemployment

1. Definitions of Poverty - Answer (click here)
2. Types of poverty - Answer (click here)
3. Poverty Line and Characteristics of Poor Households - Answer (click here)
4. Causes of Poverty in India - Answer (click here)
5. Land Reforms in India - Answer (click here)
6. Unemployment - Answer (click here)
7. Measures to Solve Unemployment Problem in India - Answer (click here)

4 National Income

1. Definitions of National Income - Answer (click here)
2. Basic Concepts of National Income - GNP, GDP, GNI, NNP, NNI, PCI - Answer (click here)
3. Circular Flow of Income and Need for the Study of National Income - Answer (click here)
4. Methods of Calculating National Income - Answer (click here)
5. Problems in calculating National Income - Answer (click here)
6. National Income Series in India - Answer (click here)

5 Economic Planning

1. Meaning and Need for Economic Planning and Laissez faire - Answer (click here)
2. Characteristics of Economic Planning - Answer (click here)
3. Types of Planning - Answer (click here)
4. Evolution and Objectives of Planning in India - Answer (click here)
5. National Income - Hindu rate of growth - Answer (click here)
6. Ninth(9th) Five Year Plan (1997 - 2002) - India - Answer (click here)
7. Tenth(10th) Five Year Plan (2002 - 2007) - India - Answer (click here)

6 Agriculture

1. Role of Agriculture in Economic Development - Answer (click here)
2. Relationship between Agricultural and non-agricultural sector - Answer (click here)
3. Components of Agricultural Growth - Answer (click here)
4. Agricul.tural Crops and Cropping Pattern - Answer (click here)
5. Importance of agricultural marketing - Answer (click here)
6. Nature and Causes of food problem in India - Answer (click here)
7. Food policy of Government of India - Answer (click here)
8. Public Distribution System (PDS) - Answer (click here)
9. Agricultural Price Policies of the Government - India - Answer (click here)
10. Trends of Agricultural Productivity in India - Answer (click here)

7 Industrial Sector

1. Need for Industrialisation - Answer (click here)
2. Patterns of Industrial Development - Answer (click here)
3. Significance of Public Sector - Answer (click here)
4. Pattern of Indian Industrial Growth - Textiles, Cement, Sugar, Steel Industry - Answer (click here)
5. Indian Industrial Policies - Answer (click here)
6. New Industrial Policy 1991 - India - Answer (click here)
7. Liberalization and Privatization - Answer (click here)
8. Environmental Hazards - Answer (click here)
9. Role of Small Scale Industries in Economic Development - Answer (click here)

8 Banking

1. Indian Economy :History of Banking - Answer (click here)
2. Definition of Banking - Answer (click here)
3. Role of Banks in economic development - Answer (click here)
4. Commercial Banks and Functions of Commercial Banks - Answer (click here)
5. central bank - Definition, Functions - Answer (click here)
6. Methods of credit control employed by the central bank - Answer (click here)
7. Nationalisation of Banks - Answer (click here)

9 Foreign Trade

1. Foreign Trade : Globalization, Liberalization - Answer (click here)
2. Foreign Investment - Answer (click here)
3. Evolution of Trade from barter system to money economy - Answer (click here)
4. Need for International Trade - Answer (click here)
5. Contribution of foreign trade to economic development - Answer (click here)
6. International Monetary Fund (IMF) - Answer (click here)
7. Trends in Foreign Trade - Answer (click here)
8. Volume of India's foreign trade - Answer (click here)
9. Composition and Direction of Trade - Export, Imports of India - Answer (click here)
10. Balance of Trade and Balance of Payment - Answer (click here)
11. The Role of the General Agreement on Tariffs and Trade (GATT) - Answer (click here)
12. World Trade Organization (WTO) and Major Functions - Answer (click here)
13. International Bank for Reconstruction and Development (IBRD) - Answer (click here)
14. Special Action Programme (SAP) and Structural Adjustment Facility (SAF) - Answer (click here)
15. IFC, IDA, MIGA - Answer (click here)

10 Human Resource Development

1. Human Resource Development - Answer (click here)
2. HRD and Economic Development - Answer (click here)
3. Educational Development in India since 1951 - Answer (click here)
4. Educational progress in Tamil Nadu - Answer (click here)
5. Non - Formal Education (NFE) and Adult Literacy - Answer (click here)
6. Early childhood care and education programme in India - Answer (click here)

11 Statistical Analysis and Measures of Central Tendency

1. Statistical Analysis and Measures of Central Tendency - Answer (click here)
2. Statistical Analysis : Classification of Data - Answer (click here)
3. Difference between classification and Tabulation - Answer (click here)
4. Types of Diagrams : 1.Bar chart 2.Pie chart 3.Pictograms or cartograms - Answer (click here)

1 Nature and Scope of Economics

1. Nature and Scope of Economics - Answer (click here)
2. Definitions of Economics - Answer (click here)
3. Adam Smith's Definition (Wealth Definition) - Answer (click here)
4. Alfred Marshall's Definition (Welfare Definition) - Answer (click here)
5. Lionel Robbins' definition (Scarcity Definition) - Answer (click here)
6. Samuelson's Definition (Modern Definition of Economics) - Answer (click here)

2 Basic Economic Problems

1. Main Divisions of Economics - Answer (click here)
2. Economics : positive or normative science ? - Answer (click here)
3. Economics in relation to other social sciences - Answer (click here)
4. Economics and Politics , Economics and History - Answer (click here)
5. Economics and Ethics , Economics and psychology - Answer (click here)
6. Economics, mathematics and statistics - Answer (click here)
7. Economics as a science - Answer (click here)
8. Methods of Economic Analysis - Answer (click here)
9. Economic Laws and Importance of Economic Laws - Answer (click here)
10. Characteristics and Classification of Wealth - Answer (click here)
11. Goods - Answer (click here)
12. Income and Types of Income - Answer (click here)
13. Economics : Value and Price - Answer (click here)
14. Markets and Classification of Markets - Answer (click here)
15. Importance of Economics - Answer (click here)
16. Basic Economic Problems and Economic Systems - Answer (click here)
17. Capitalist Economy : salient features, Merits and Disadvantages - Answer (click here)
18. Socialist Economy : salient features, Merits and Disadvantages - Answer (click here)
19. Mixed Economy : salient features, Merits and Demerits - Answer (click here)
20. Production Possibility Curve - Answer (click here)

3 Theory of Consumer Behaviour

1. Theory of Consumer Behaviour - Answer (click here)
2. Economics : Consumer Behaviour : Characteristics of wants - Answer (click here)
3. Economics : Consumer Behavior : Classification of Wants - Answer (click here)
4. Concept of Utility : Total, Marginal Utility - Answer (click here)
5. Law of Diminishing Marginal Utility(DMU) - Definition, Explanation, Importance, Criticism - Answer (click here)
6. Law Of Equi-Marginal Utility - Definition, Explanation, Importance, Criticism - Answer (click here)
7. Limitations of the Equi-Marginal Utility Law - Answer (click here)
8. Importance of Equi-Marginal Utility Law - Answer (click here)
9. Consumer's surplus : Definition, Explanation, Importance, Criticism - Answer (click here)
10. Indifference Curve Approach : Definition, Schedule, curve, map - Answer (click here)

4 Demand and Supply

1. Law of Demand with Schedule and curve - Answer (click here)
2. Exceptions to the Law of Demand - Answer (click here)
3. Factors determining demand - Answer (click here)
4. Elasticity of Demand and Types of Elasticity of Demand - Answer (click here)
5. Importance of Elasticity of demand - Answer (click here)
6. Factors determining supply - Answer (click here)
7. Elasticity of supply : concept, Types, Factors determining - Answer (click here)

5 Equilibrium Price

1. Equilibrium Price - Answer (click here)
2. Shift in Demand and Supply - Answer (click here)
3. Economics : Time Periods and Price Fixation - Answer (click here)

6 Production

1. Production - Answer (click here)
2. Factors of production : Land, Labour, Capital and Organisation - Answer (click here)
3. Forms of Capital and Characteristics of capital - Answer (click here)
4. Labour : Characteristics and Division of Labour - Answer (click here)
5. Identifying the optimum combination of factors of production - Answer (click here)
6. Short-run and Long-run production function - Answer (click here)
7. Short-run production function - The law of variable proportions - Answer (click here)
8. Long-run production function - Increasing, Constant, Decreasing Returns to Scale - Answer (click here)
9. Characteristics of an isoquant - Answer (click here)
10. Producer's Equilibrium and The Cobb Douglas Production Function - Answer (click here)
11. Economies of Scale - Internal - Internal, External economies - Answer (click here)

7 Cost and Revenue

1. Cost function, concepts and classifications - Answer (click here)
2. Short run average cost curves - Average Fixed, Average variable and Average Total Cost - Answer (click here)
3. Marginal Cost - Answer (click here)
4. Long run Average Cost Curve (LAC) - Answer (click here)
5. Accounting Cost and Economic cost - Answer (click here)
6. Concepts Of Revenue : Average, Marginal Revenue(AR,MR) - Answer (click here)
7. Measurement of Profit - Answer (click here)

8 Market Structure and Pricing

1. Meaning, Definition and Characteristics of Market - Answer (click here)
2. Classification of Markets according to Area, time, Competition - Answer (click here)
3. Features and Conditions of perfect competition - Answer (click here)
4. Nature of Revenue curves - Answer (click here)
5. Monopoly : Characteristics and Causes - Answer (click here)
6. Monopoly : Price and Output Determination : Advantages, Disadvantages - Answer (click here)
7. Methods of Controlling Monopoly - Answer (click here)
8. Definition and Conditions of Price Discrimination - Answer (click here)
9. Characteristics of Monopolistic Competition - Answer (click here)
10. Determination of Equilibrium price and output under monopolistic competition - Answer (click here)
11. Wastages of Monopolistic competition - Answer (click here)
12. Characteristics of Oligopoly - Answer (click here)

9 Marginal Productivity Theory of Distribution

1. Marginal Productivity Theory of Distribution - Answer (click here)
2. The Ricardian theory of Rent - Answer (click here)
3. Modern Theory of Rent and Quasi-Rent - Answer (click here)
4. Theories of wages - Answer (click here)
5. Early theories of wages - Answer (click here)
6. Recent Theories of wages - Answer (click here)
7. Theories of Interest - Answer (click here)
8. Loanable funds theory (Neo - classical theory) of Interest - Answer (click here)
9. Liquidity preference theory (Keynesian theory) of interest - Answer (click here)
10. Rent theory of profits - Answer (click here)

10 Simple Theory of Income Determination

1. Simple Theory of Income Determination - Answer (click here)
2. Say's Law of Market - Answer (click here)
3. Keynesian Theory of Income Determination - Answer (click here)
4. Keynesian Theory Aggregate Demand : Consumption Function - Answer (click here)
5. Keynesian Theory Aggregate Demand : Inducement to invest (Investment function) - Answer (click here)
6. Rate of interest: Liquidity Preference Theory - Answer (click here)
7. Functions of Money - Answer (click here)
8. Economics : Importance of Money - Answer (click here)
9. Money supply and Reserve Money of India - Answer (click here)

11 Monetary Policy

1. Monetary Policy of India - Answer (click here)
2. Monetary Transmission - Answer (click here)
3. Economics : Inflation and Deflation, Types of Inflation - Answer (click here)
4. Effects of changes in prices - Answer (click here)
5. Definition of Fiscal Policy or public finance - Answer (click here)
6. Subject matter of public finance(Fiscal Policy) - Answer (click here)
7. Meaning and definition of a tax - Answer (click here)
8. Canons of Taxation - Answer (click here)
9. Kinds or Types of tax - Answer (click here)
10. Meaning, Definition and Kinds(Types) of Budget - Answer (click here)

12 Fiscal Policy

1. Fiscal policy : Meaning, Objectives, Limitations of Fiscal policy - Answer (click here)