| Part A: Introductory Macroeconomics |
Unit 1: National Income and Related Aggregates |
• Macroeconomics basics • Circular flow of income • Methods of calculating National Income • GDP and Welfare |
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Unit 2: Money and Banking |
• Money • Money creation • Central bank functions • Control of credit • Open Market Operations |
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Unit 3: Determination of Income and Employment |
• Aggregate demand • Propensity to consume and save • Short-run equilibrium • Full employment and unemployment |
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Unit 4: Government Budget and the Economy |
• Government budget • Classification of receipts and expenditure • Balanced, Surplus, and Deficit Budgets |
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Unit 5: Balance of Payments |
• Balance of payments account • Foreign exchange rates • Managed floating exchange rate system |
| Part B: Indian Economic Development |
Unit 6: Development Experience (1947–90) and Economic Reforms Since 1991 |
• Indian economy pre-independence • Five Year Plans • Economic Reforms post-1991 • Demonetization • GST |
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Unit 7: Current Challenges Facing Indian Economy |
• Human Capital Formation • Rural Development • Employment • Sustainable Economic Development |
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Unit 8: Development Experience of India |
• Comparison with neighbors • Issues like economic growth, population, and sectoral development |