Hello everyone ! This is Sneha Bhattacharya from Bhilai, Chhattisgarh. I am a teacher by passion who wants to spread knowledge of various interests among youngsters. I have completed my graduation in B.COM and presently persuing CMA as the career. I have an experience of 5 years in teaching field and will feel fortunate if I get an opportunity to work as an online tutor in Klasszone platform.

Well I have in depth knowledge and interest in subjects like Maths, English, Accountancy and Economics. During my academics, I used to score good marks in these domains compared to other subjects. Presently I am persuing Cost and Management accountancy course from ICMAI due to keen interest in commerce field.

My hobbies include reading books of various interests , listening to music etc.

Degree: Bachelors of Commerce - University: Hemchand Yadav Visvavidyalaya

Degree: CMA (Persuing) - University: Institute of Cost and Management Accountants of India

The subject economics deals with the production of goods and services ,employment , capital labour ,physical resources  . Studying economics is very important as it serves and educates the one in different ways to increase the income , employment and development  of the nation .

• Learning Objectives:

  Unit I: Micro economics theory 

  Unit II : THEORY OF INCOME AND EMPLOYMENT 

  Unit III :  MONEY AND BANKING 

  Unit IV : BALANCE OF PAYMENT AND EXCHANGE RATE 

  Unit V : PUBLIC FINANCE 

  Unit VI : NATIONAL INCOME  

• Course Outline:

  Unit -1 Micro economic theory  

  Chapter 1 : Demand: meaning, factors affecting demand; Demand function; Law of Demand; derivation of demand curve; movement and shift of the demand curve; exceptions to the Law of Demand. 
  Law of Diminishing Marginal Utility, Law of Equimarginal Utility, consumer’s equilibrium through utility approach (Cardinal) and indifference curve analysis (Ordinal).  

  Chapter 2: Elasticity of demand: meaning, types of elasticity of demand, measurement of elasticity of demand; factors affecting elasticity of demand. 

  Chapter 3 : Supply: meaning; difference between stock and supply; determinants of supply; Law of Supply; movement and shift of the supply curve; elasticity of supply.  

  Chapter 4 : Market Mechanism: Equilibrium and disequilibrium; Equilibrium price and effect of changes in demand and supply on the equilibrium price. Simple applications of tools of demand and supply.  

  Chapter 5:  Concept of production and production function (short run and long run production function), returns to a factor, total, average and marginal physical products; Law of Variable Proportions and its three stages.  

  Chapter 6 : Cost and revenue: Basic concepts of cost; fixed cost, variable cost, total cost, marginal cost and average cost – their relationships; opportunity cost; short run and long run cost curves. Revenue: meaning; average revenue, marginal revenue and total revenue and their relationships under perfect competition and imperfect competition, Producer’s equilibrium.  

  Chapter 7 :Main market forms: perfect competition, monopolistic competition, oligopoly, monopoly, monopsony; characteristics of the various market forms; equilibrium of a firm in perfect competition under short run and long run  

  Unit 2 : Theory of Income and Employment 

  Basic concepts and determination of Income and Employment 
  The concept of demand (exante) and effective (expost) demand. Aggregate demand and its components, propensity to consume and propensity to save (average and marginal), equilibrium output (aggregate demand and aggregate supply approach; and saving and investment approach); investment multiplier (its meaning and mechanism with the help of a diagram). Simple numerical based on the above. 
  Meaning of full employment. Problems of excess demand and deficient demand; measures to correct them.  

  Unit 3. Money and Banking 

  Chapter 1:  Money: meaning, functions of money, supply of money. 

  Chapter 2  Banks: functions of commercial bank; high powered money, credit creation by commercial banks; Central Bank: functions. 
   

  
  Unit 4. Balance of Payment and Exchange Rate 

  Balance of Payment – meaning, components; foreign exchange – meaning, determination of exchange rate (Flexible). 
  Balance of Payment – Meaning and components; Causes of disequilibrium and how the disequilibrium can be corrected; Foreign Exchange Rate – meaning, meaning of fixed and flexible exchange rate, determination of exchange rate in a free market. Concepts of depreciation, appreciation, devaluation and revaluation (meaning only).  

  Unit 5. Public Finance 

  Chapter 1 : Fiscal Policy: meaning and instruments of fiscal policy. 
  Meaning and instruments of fiscal policy – Public Revenue: Meaning, taxes (Meaning and types), difference between direct and indirect taxes; Public Expenditure: Meaning and importance; Public Debt: Meaning and redemption; Deficit Financing: meaning.  

  Chapter 2:  Government Budget: meaning, types and components.  
  Meaning and types of Government budget – union, state; components – revenue and capital. Concept of deficit budget: revenue deficit, fiscal deficit, primary deficit – their meaning and implications.  

  Unit 6. National Income 

  Chapter 1 :  Circular flow of Income. 
  A simple model explaining the circular flow of income with two, three and four sector models with leakages and injections.  

  Chapter 2 : Concepts and definition of NY, GNP, GDP, NNP, private income, personal income, personal disposable income, National Disposable Income and per capita income; relationship between the income concepts.  

  Chapter 3 :Methods of measuring National Income: product or value-added method; income method and expenditure method with simple numericals  based on them.

   

   

• Recomended Audience:

  The audience of this course is students of Grade-12 from ICSE Board. All the Chapters are well designed and its coverage as per latest curriculum released by the board. Still Student have complete flexibility to enhance or modify the course coverage during the course of learning process with Teacher. We are expecting that students of Grade-12 should drive their classes with Teacher as per chapters mentioned and also as per syllabus of their school and applicable School district or Board.

• Pre-Requisite Requirement:

  For attending this course, prior knowledge of Grade-11 Economics is required, this course assumes that students have prior experience with all the topics of Economics of Grade-11. This is not an introductory class for absolute beginners on Economics of Grade-12! Participants should already be familiar with the basic concepts.

• Course Level:
  Beginner
• Language of Teaching:
  English
• Class Schedule Availiability:
  Afternoon, Evening