Industrial

Economics and Foreign Trade

(Cycle Test 1 - Major Topics and Sub topics)
Introduction to economics
Evolution of concept of economy
Business Economics
Meaning, Nature, Scope and Significance
Laws of Economics
Law of Demand
Law of Supply
Relationship between Demand, Supply and Cost
Equilibrium, Disequilibrium
Movement and Shifts
Scarcity
Theory of consumer behaviour
Utility – Meaning and concept
Marginal Utility
Total Utility
Elasticity
Law of diminishing utility
Law of equi-marginal utility
Forecasting Techniques
Qualitative
Delphi
Market Research
survey
Market Trial
Quantitative (Causal and Econometric Methods)
Running sum average
Weighted average
Exponential Smoothening
Cost and Revenue
Opportunity cost
Production possibility curve
PPF, Growth and contraction
Competitive Nature of Firms
Type of economic System
Communism
Feudalism & slavery
Capitalism
Socialism
Free Market Economy
Unemployment
Unemployed
Underemployed
Labour Force
Full employment output
NRU (Natural Rate of Unemployment)
Various reasons of Unemployment – Frictional, Structural and Cyclic
Keynesian Economics
Unemployment
Inflation
Growth
Classical economics Vs Keynesian economics
National Income
Definition- Marshall, Pigour, Fisher, Simon
Circular Flow model of economy
GDP – Real, Nominal
Various approaches for evaluating GDP
Expenditure, Income, Value
Limitation of GDP
Measuring national economy
GDP, GNP, NNP, HDI, GPI, HPI, Personal disposable income, Private
income
Business Cycle
Inflation, Deflation, Stagflation
Effect of stagflation on economy
Measure of Inflation – CPI, GDP deflators
International Trades
Definition
Types – Export, Import, Ent repot
Basis of International Trade
Theory of absolute advantage
Theory of comparative advantage
Theory of competitive advantage
Factor endowment theory
Product differentiation
Product Life cycle theory
Theory of identical Preference
Theory of surplus vent
Effect of economic growth on Foreign trade
Effect of Foreign trade on economic growth
Advantage and Disadvantage of Foreign trade