Syllabus
Exploring the Subject Matter of Economics: Why We Study Economics – Types - Definitions – Economic Systems – Economics as a Science. Principles and Concepts of Microeconomics: Demand – Supply – Production – Costs – Markets - Equilibrium. Basics of Macroeconomics: Role of Government – National Income Concepts – Inflation Concepts – Classical vs. Keynesianism. Economic Problems and Policies: Meaning of Development – Problems of Growth – Population – Agriculture and Industry – Balance of Payments – Planning – Study Report Related to Economics of Space Program.
Text Books
1. Samuelson, Paul A. and William D. Nordhaus, Economics, 17th ed., McGraw‐Hill (2005).
2. Dewett, K. K., Modern Economic Theory, 22nd ed., S. Chand & Co.
3. Thirlwall, A. P., Growth and Development with Special Reference to Developing Economies, Palgrave (2003).
References
1. Gardner, A., Macroeconomic Theory, Surjeet Publications (1998).
2. Koutsoyiannis, A., Modern Microeconomics, 2nd ed., Palgrave Macmillan (2003).
3. Black, J., A Dictionary of Economics, Oxford Univ. Press (2003).
4. Meir, J. M. and Rauch, J. E., Leading Issues in Economic Development, 7th ed., Oxford Univ. Press (2005).
5. Todaro, M. P. and Smith, S. C., Economic Development, 8th ed., Pearson Education Ltd. (2008).
6. Economic Survey 2008, Government of India, Ministry of Finance.
7. O'Connor, D. E., The Basics of Economics, Greenwood Press (2004).
Course Outcomes (COs):
CO1: Understand economic problems for better development of technology
CO2: Develop theoretical and analytical skills to make firm level decisions using various principles of economics.
CO3: Equip to handle the dynamics of production and business to understand and handle the dynamics of economics and business of the changing world economy
CO4: Solve economic problems through engineering and scientific solutions for development challenges of the country
CO5: Understand real-life problems and technology solutions, strengths and weaknesses of the economy, sensitize about real life issues and become better engineers and scientists.