Economics (Introduction to Economics)
1. Introduction to Economics
– Definitions and scope of economics
– Key ideas in economics: Scarcity and efficiency
– Economics as a dynamic subject
2. Basic Economic Concepts
– Economic activities and their types (profit, loss, livelihood, employment)
– Economic goods vs. non-economic goods
– Opportunity cost and trade-offs
3. Economics vs. Economy
– Theoretical concepts (economics) vs. practical application (economy)
– Differences between ‘economics’ and ‘economy’
4. Economic Systems
– Capitalistic Economy (Laissez-faire, private ownership, market forces)
– State Economy (Socialistic and Communistic systems, state control)
– Mixed Economy (Combination of market and state roles)
5. Key Economic Theories
– Classical Economics (Adam Smith and the ‘invisible hand’)
– Keynesian Economics (Government intervention during economic downturns)
– Market Socialism (Oscar Lange’s proposal for socialist economies)
6. Challenges of Economies
– Balancing production and distribution to meet the needs of the population
– Economic transition from state control to market-based systems
– Managing income inequality during economic transitions
7. Evolution of Economic Thought
– Historical evolution of economic models (from capitalism to socialism and mixed economies)
– Impact of the Great Depression on economic policies
– The role of the World Bank and other international organizations in shaping modern economic policies
8. Government Intervention and Public Goods
– Role of government in providing public goods and correcting market failures
– The balance between state control and market freedom in mixed economies
9. Global Economic Interdependence
– Impact of globalization on economic policies
– Balancing globalization with local industry protection
10. Fiscal Policy and Economic Models
– Progressive vs. flat tax systems
– Economic implications of different tax policies
11. Environmental Economics
– State-led vs. market-driven models in addressing environmental issues
12. Economic Reforms and Policy Changes
– Examples of economic reforms in countries like India and China
– Shifts from state-controlled to market-oriented economic policies
