Hello, I am Komal Garg, an enthusiastic and dedicated educator with a passion for fostering learning and growth in elementary students. With over two years of experience managing personal teaching classrooms, I am committed to creating a supportive and engaging environment where every student can thrive. My journey in education began with my undergraduate studies at S.D Public School, Jagadhri, where I was honored with the Best Student Award. This early recognition fueled my passion for learning and set the foundation for my academic pursuits. During my time at M.L.N College, Yamunanagar, where I pursued a Bachelor of Commerce, I actively participated in extracurricular activities, honing my organizational and communication skills. Building on this foundation, I continued my academic journey with a Master's of Commerce (M.Com) from DAV Girls College, Yamunanagar, where I further developed my expertise and prepared for national exams through seminars and practical experiences. Additionally, my pursuit of a Bachelor of Education at Dharma Institute allowed me to gain valuable teaching experience and certifications, solidifying my commitment to the field of education.

Degree: Bachelors of Commerce - University: M.L.N College

Degree: Masters of Commerce - University: DAV College

Degree: B.Ed - University: Dharma Institute

In this course the learners will be able to probe deeper into theoretical concepts learnt in classes XI and XII. It will also help the students to analyses and evaluate real world economic scenarios using theoretical constructs and arguments. They will be able to demonstrate the learning of economic theory. The students will follow up aspects of economics in which learners have interest. It will also guide them to develop the communication skills to argue logically.

• Learning Objectives:

  Part A: Introductory Macroeconomics

  • National Income and Related Aggregates
  • Money and Banking
  • Determination of Income and Employment
  • Government Budget and the Economy
  • Balance of Payments

  Part B: Indian Economic Development

  • Development Experience (1947-90) and Economic Reforms since 1991
  • Current Challenges facing Indian Economy
  • Development Experience of India – A Comparison with Neighbours
• Course Outline:

  Part A: Introductory Macroeconomics

  Unit 1: National Income and Related Aggregates

  What is Macroeconomics?

  Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.

  Circular flow of income (two sector model); Methods of calculating National Income - Value Added or Product method, Expenditure method, Income method.

  Aggregates related to National Income:

  Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP) and Net Domestic Product (NDP) - at market price, at factor cost; Real and Nominal GDP

  GDP Deflator, GDP and Welfare

  Unit 2: Money and Banking

  Money – meaning and functions, supply of money - Currency held by the public and net demand deposits held by commercial banks.

  Money creation by the commercial banking system.

  Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's Bank, Control of Credit through Bank Rate, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.

   Unit 3: Determination of Income and Employment

  Aggregate demand and its components.

  Propensity to consume and propensity to save (average and marginal). Short-run equilibrium output; investment multiplier and its mechanism. Meaning of full employment and involuntary unemployment.

   Problems of excess demand and deficient demand; measures to correct them - changes in government spending, taxes and money supply.

  Unit 4: Government Budget and the Economy

  Government budget - meaning, objectives and components.

  Classification of receipts - revenue receipts and capital receipts; Classification of expenditure – revenue expenditure and capital expenditure.
  Balanced, Surplus and Deficit Budget – measures of government deficit.

   Unit 5: Balance of Payments

   Balance of payments account - meaning and components;

   Balance of payments – Surplus and Deficit.

   Foreign exchange rate - meaning of fixed and flexible rates and managed floating.

   Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange   rate.

   Managed Floating exchange rate system

   Part B: Indian Economic Development

  Unit 6: Development Experience (1947-90) and Economic Reforms since 1991:

   A brief introduction of the state of 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.

   Economic Reforms since 1991: Features and appraisals of liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetization and GST

   

   Unit 7: Current challenges facing Indian Economy

   Human Capital Formation: How people become resource; Role of human capital in economic   development; Growth of Education Sector in India.

   Rural development: Key issues - credit and marketing - role of cooperatives; agricultural diversification; alternative farming - organic farming.

  Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.

   

  Unit 8: Development Experience of India:

  A comparison with neighbours:

  India and Pakistan

  India and China

  Issues: economic growth, population, sectoral development and other Human Development Indicators

• Recomended Audience:

  Students who are currently in Class 12 in CBSE Board. 

   

   

   

• Pre-Requisite Requirement:

  Students must have knowledge of Class 11 Economics concepts.

• Course Level:
  Intermediate
• Language of Teaching:
  English, Hindi
• Class Schedule Availiability:
  Morning