Economics XII – First In Class

Economics XII

Last updated: March 22, 2022

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Introductory Macroeconomics

UNIT-1 INTRODUCTION 3 Topics Paid

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Introduction and structure of macro-economics

Phases of circular flow of income

Circular flow of income in two-sector economy.

UNIT-1 Basic concepts of Macro economics 5 Topics Paid

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Concept of domestic territory

Concept of normal resident

Goods and its type

Transfer income and factor income

Product Method of Calculating National Income

UNIT-1 National income and its related aggregates 3 Topics Paid

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Basic concept of national income

Concept of Depreciation, NFIA and Net indirect taxes

How to solve numerical

UNIT-2 Measurement of national income 11 Topics Sample Lesson Free

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National income by expenditure method

Numerical calculation of national income by expenditure method

National income by Income method mathod

Component of Income method

Numerical calculation of national income by income method

National income by Value added method.

Numerical calculation of national income by value added method

Precautions for computation of national income

Treatment of different items in national income

GDP deflator and real GDP and nominal GDP

GDP deflator as a index of welfare and its limitations

UNIT-3 Money 3 Topics Paid

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Barter System of exchange and Introduction of money

Meaning of money and its function

Money supply and Measurement of money supply

UNIT-3 Banking 5 Topics Paid

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Commercial bank and its primary function

Secondary and Other function of commercial bank

Money multiplier and credit creation by commercial bank

Central bank and its function

Credit control function by central bank

UNIT-4 Aggregate demand and its related components 8 Topics Paid

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Aggregate demand and its related components

Consumption function

saving and saving function

Derivation of saving curve with the help of consumption curve and derivation of consumption curve with the help of saving curve

Agrregate supply

Propensity to consume

Propensity to save and relationship between propensity to save and propensity to comsume

UNIT-4 Income determination and multiplier 6 Topics Paid

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Equilibrium level of income by AD-AS approach.

Equilibrium level of income by S-I approach.

Full employment equilibrium, Under-employment equilibrium and Excess Employment equilibrium

Investment multiplier

working of investment multiplier

UNIT-4 Excess demand and deficient demand 5 Topics Paid

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Excess demand and its causes

Deficient demand and its causes

effect of Excess demand and deficient demand in the economy

Fiscal policy to correct the problem of excess and deficient demand

Monetary policy to correct the problem of excess and deficient demand

UNIT-5 Government budget and the economy 3 Topics Paid

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Governemet budget and its objective

Component of governemt budget

Revenue receipts and its components

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