Effective Demand and Consumption Function. Pricing of Policy and Disinvestment of Public Sector (India). Managerial Application of Indifference Curve. Measurement of Price Elasticity of Demand. The content highlights of this revised, upgraded edition are: These changes are brought upon in the book to cater to the needs of both university exams takers as well as different national and state level competitive examination aspirants. The present edition would surely serve to the reader's delight with its elaborate incorporation of some new concepts, diagrams and at certain places, almost the entire chapter. Jhingan (S.The book, having made its worth & importance felt in the students as well as the faculty community for more than six decades now, appears in the present edition with chapter wise upgraded material. A Text Book of Economic Theory Stonier and Hague (Longman’s Landon) 2. Elementary Concepts of VAT, WTO, GATT & TRIPS agreement. Globalisation of Indian economy - merits and demerits. UNIT-VI Nature and characteristics of Indian economy (brief and elementary introduction), Privatization - meaning, merits and demerits. UNIT-V Meaning of Market, Types of Market - Perfect Competition, Monopoly, Oligoply, Monoplistic Competition (Main features of these markets) Supply and Law of Supply, Role of Demand & Supply in Price Determinition and effect of changes in demand and supply on prices. Shape of average cost, marginal cost, total cost etc. Various concepts of cost - Fixed cost, variable cost, average cost, marginal cost, money cost, real cost opportunity cost. UNIT-IV Meaning of production and factors of production Law of variable proportions, Returns to scale, Internal and External economics and diseconomies of scale. UNIT-III Meaning of Demand, Individual and Market demand schedule, Law of demand, shape of demand curve, Elasticity of demand, measurement of elasticity of demand, factors effecting elasticity of demand, practical importance & applications of the concept of elasticity of demand. UNIT-II Concepts and measurement of utility, Law of Diminishing Marginal Utility, Law of equi-marginal utility - its practical application and importance. Relation between Science, Engineering, Technology and Economics. UNIT-I Definition of Economics - various definitions, Nature of Economic problem, Production possibility curve Economic laws and their nature. Stimulate him to think systematically and objectively about contemporary economic problems. 
Acquaint the student in the basic economic concepts and their operational significance and 2. COURSE OBJECTIVE : The purpose of this course is to : 1.
HUM-201-E ECONOMICS (COMMON FOR ALL BRANCHES) L T P Class Work : 50 Marks 3 1 - Theory : 100 Marks Total : 150 Marks Duration of Exam.
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