Economics (Introduction To Economics Part - II)
This Topic Covers the Following Topics.
- Introduction to Economics
- Definition and Scope of Economics
- Evolution and Historical Background
- Economic Systems
- Types of Economic Systems (Planned Economy, Market Economy, Mixed Economy)
- Features and Characteristics of Different Economic Systems
- India’s Mixed Economy
- Role of the State in an Economy
- State as a Regulator, Producer, and Supplier of Goods
- Public Goods vs. Private Goods
- Government’s Role in Economic Planning and Policy
- Sectors of an Economy
- Primary Sector (Agriculture, Forestry, Fishing, Mining)
- Secondary Sector (Manufacturing and Industry)
- Tertiary Sector (Services such as Education, Banking, Insurance)
- Types of Economies
- Agrarian Economy
- Industrial Economy
- Service Economy
- Transition and Characteristics of Different Economies
- Concepts of National Income
- Gross Domestic Product (GDP)
- Net Domestic Product (NDP)
- Gross National Product (GNP)
- Net National Product (NNP)
- Methods of Calculating National Income
- Depreciation and its Role in National Income Accounting
- Cost and Price in National Income Calculation
- Factor Cost vs. Market Cost
- Constant Price vs. Current Price
- Adjustments for Taxes and Subsidies
- Taxes and National Income
- Direct and Indirect Taxes
- Role of Taxes in National Income Accounting
- Subsidies and Their Economic Implications
- Uniqueness of the Indian Economy
- Characteristics of India’s Economy (Service-Based, High Dependence on Primary Sector)
- Challenges and Opportunities in India’s Economic Structure
- Evolution and Current Trends
- Economic Reforms and Policies
- Economic Reforms Post-1991
- Impact of Liberalization, Privatization, and Globalization
- Strategic Elements in Economic Reforms
- Challenges in Economic Development
- Balancing Growth Across Sectors
- Addressing Unemployment and Economic Disparities
- Need for Sustainable Development and Inclusive Growth
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