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CUET Economics unit-wise syllabus
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Units
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Topics
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Unit 1: Introduction to Microeconomics
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What is microeconomics?
Central problems
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Unit 2: Consumer Behaviour and Demand
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Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two commodity cases.
Demand: market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in the demand curve, price elasticity of demand, measurement of price elasticity of demand – percentage, total expenditure, and geometric methods
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Unit 3: Producer Behaviour and Supply
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Production function: returns to factor and returns to scale
Supply: market supply, determinants of supply, supply schedule, supply curve movement along and shifts in supply curve, price elasticity of supply, measurement of price elasticity of supply – percentage and geometric methods
Cost and Revenue: Concepts of costs; short-run cost curves (fixed and variable costs; total, average and marginal costs); concepts of revenue – total, average and marginal revenue and their relationship. Producer’s equilibrium – with the help of MC and MR.
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Unit 4: Forms of Market and Price Determination
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Forms of market – perfect competition
Price determination under perfect competition – equilibrium price, effects of shifts in demand and supply.
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Unit 5: Simple Applications of Tools of Demand and Supply Curves
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The teachers can be given the flexibility to choose the issues: rationing, floors and ceilings and Food Availability Decline (FAD) Theory (the teachers may also choose alternative examples that are simple and easy to understand)
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Unit 6: National Income and Related Aggregates — Basic Concepts and Measurement
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Macroeconomics: meaning.
Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost).
Measurement of National Income –Value Added method, Income method, and Expenditure method.
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Unit 7: Determination of Income and Employment
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Aggregate demand, aggregate supply, and their components
Propensity to consume and propensity to save (average and marginal)
Meaning of involuntary unemployment and full employment
Determination of income and employment: two-sector model
Concept of investment multiplier and its working
Problems of excess and deficient demand
Measures to correct excess and deficient demand – availability of credit, change in government spending
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Unit 8: Money and Banking
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Money: meaning, evolution, and functions
Central bank: meaning and functions
Commercial banks: meaning and functions
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Unit 9: Government Budget and the Economy
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Government budget – meaning and its components
Objectives of government budget
Classification of receipts – revenue and capital; classification of expenditure – revenue and capital, plan and non-plan, and developmental and non-developmental
Balanced budget, surplus budget, and deficit budget: meaning and implications
Revenue deficit, fiscal deficit, and primary deficit: meaning and implications; measures to contain different deficits.
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Unit 10: Balance of Payments
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Foreign exchange rate – meaning (fixed and flexible), merits and demerits; determination through demand and supply
Balance of payments accounts – meaning and components
A brief analysis of recent exchange rate issues
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Unit 11: Development Experience (1947-90) and Economic Reforms since 1991
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A brief introduction of the state of the Indian economy on the eve of independence. Indian economic system and common goals of Five year Plans.
Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade.
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Unit 12: Current challenges facing the Indian Economy
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Poverty – absolute and relative; Main programmes for poverty alleviation: A critical
assessment;
Human Capital Formation – How many people become resource; Role of human capital
in economic development;
Rural development: Key issues – credit and marketing – role of cooperatives; agricultural
diversification;
Employment: Growth and changes in work force participation rate in formal and informal
sectors; problems and policies
Infrastructure: Meaning and Types: Cases Studies: Health: Problems and
Policies – A critical assessment;
Sustainable Economic Development: Meaning, Effects of Economic Development on
Resources and Environment, including global warming
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Unit 13: Development Experience of India
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A comparison with neighbours
India and Pakistan
India and China
Issues: economic growth, population, sectoral development and other Human
Development Indicators
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