Economics
The Course aims to help students to understand the basic concepts, tools of analysis and terminology used in economics. The course inculcates theoretical basis and practical application of microeconomics and macroeconomics. Further the course facilitates understanding past events of economy and accordingly predict future policies. This course will ensure that the students comprehend financial markets and the real economy, and how these linkages influence the impact of economic policies over differing time horizons and understand public finance issues, amendments in various related acts from time to time and the working of the international economic laws and their evolutionary and historical aspects.
University of Mumbai · B.L.S. Semester 1 · 4 modules · 25 topics · 25 written.
Module 1 — Foundation of Economics
- 1 The Nature and Significance of economic science and its relevance to law, Difference between Micro and Macro Economics, Positive economics and Normative economics
- 2 Law of demand, Elasticity of Demand and Law of supply
- 3 Market structure — Features of Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly
- 4 Circular Flow of Income
- 5 National Income and its measurement (GDP, NDP, GNP, NNP, PCI, GVA, Green GDP)
- 6 Trade Cycles-Phases
Module 2 — Indian Economy
- 1 Salient features of Indian Economy and Structural changes
- 2 Causes of Low Agricultural Productivity and Government measures to improve its productivity
- 3 Poverty — Poverty Line, Causes and its alleviation strategies
- 4 Population — Size and composition, Causes of high growth and Demographic Dividend
- 5 NITI Aayog — Structure and Functions
- 6 Food Security and recent trends
- 7 New Industrial Policy,1991
- 8 Micro, Small and Medium Enterprises (MSMEs) — Problems and Policies
Module 3 — Financial Markets and Fiscal System
- 1 Indian Money Market — Features and recent trends
- 2 Indian Capital Market — Features and Growth
- 3 Measures of Money Supply in India
- 4 Indian Tax Structure — Direct and Indirect Taxes
- 5 Sources of Public Revenue
- 6 Public Expenditure — Classification and Causes of growth of Public Expenditure
- 7 Intergovernmental Fiscal Relations in India — Centre — State Fiscal Relationship and Finance Commission