Economics

Economics is a dynamic and much applauded social science in modern times. Every Government at the helm carries and economic adviser of repute for seeking help in designing economic policies time and again.

Indeed, effective public policies are needed to raise the national welfare aimed through Sabka Sath, Sabka Vikas and Viksit Bharat, making a roaring reality with dedication, devotion and doing the best by the people in the welfare oriented economy of present India.

As such. learning of Economics as a subject is highly rewarding and popular in higher educational institutions and universities in the country.

This book contains a devotional attempt of the author in exposition of economic concepts, theories and applications in a lucid manner for the benefit of readers at large, reflecting his knowledge, art of simplification and exposition of the economic ideas.

The book draws specific illustrations and pedagogy besides cases for creativity and learnings requirements of students of BLS (Bachelor of legal science) and LLB degree courses in 1st year semester 1 and references useful to the teaching community in Law faculties.

Contents –

Module I – FOUNDATION OF ECONOMICS
1. The Nature and Significance of Economic Science and its Relevance to Law
2. Micro and Macroeconomics: Positive Economics and Normative Economics
3. Law of Demand
4. Elasticity of Demand
5. Law of Supply
6. Market Structure
7. Features of Perfect Competition
8. Monopoly
9. Monopolistic Competition and Oligopoly
10. Circular Flow of Income
11. National Income and its Measurement
12. Trade Cycles — Phases
Module II – INDIAN ECONOMY
13. Salient Features of Indian Economy and Structural Changes
14. Agricultural Productivity and Government Measures
15. Poverty
16. Population
17. NITI Aayog: Structure and Functions
18. Food Security and Recent Trends
19. New Industrial Policy, 1991
20. Micro, Small, and Medium Enterprises (MSMEs) — Problems and Policies
Module III – FINANCIAL MARKETING AND FISCAL SYSTEM
21. Indian Money Market: Features and Recent Trends
22. Indian Capital Market: Features and Growth
23. Measures of Money Supply in India
24. Indian Tax Structure
25. Direct and Indirect Taxes
26. Sources of Public Revenue
27. Public Expenditure: Classification and Causes of Growth
28. Intergovernmental Fiscal Relations in India (Centre-State Fiscal Relationship) and Finance Commission
Module IV – EXTERNAL SECTOR
29. Structural Changes in India’s Foreign Trade Since 1991
30. Balance of Payments: Structure and Disequilibrium
31. World Trade Organisation
32. SAARC and BRICS
33. Commercial Trade Policy
Appendix
Case Studies
Select Readings, References and Recommended Resources