Based on the latest syllabus for Economics Domain (319) for CUET-UG 2025 as per NTA
Course I: Introductory Microeconomics
Unit I: Introduction
• What is microeconomics?
• Central problems of an economy, production possibility curve and opportunity cost.
Unit II: Consumer Behaviour and Demand
• Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two commodity cases.
• Demand: market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in demand curve, price elasticity of demand, measurement of price elasticity of demand – percentage, total expenditure and geometric methods
Unit III: Producer Behaviour and Supply
• Production function: returns to factor and returns to scale
• Supply: market supply, determinants of supply, supply schedule, supply curve movement along and shifts in supply curve, price elasticity of supply, measurement of price elasticity of supply – percentage and geometric methods
• Cost and Revenue: Concepts of costs; short-run cost curves (fixed and variable costs; total, average and marginal costs); concepts of revenue – total, average and marginal revenue and their relationship. Producer’s equilibrium – with the help of MC and MR.
Unit IV: Forms of Market and Price Determination
• Forms of market – perfect competition
• Price determination under perfect competition – equilibrium price, effects of shifts in demand and supply.
Unit V: Simple Applications of Tools of Demand and Supply Curves
The teachers can be given the flexibility to choose the issues: rationing, floors and ceilings and Food Availability Decline (FAD) Theory (the teachers may also choose alternative examples that are simple and easy to understand)
Course II: Introductory Macroeconomics
Unit I: National Income and Related Aggregates - Basic Concepts and Measurement
• Macroeconomics: meaning.
• Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost), National Disposable Income (gross and net); Private Income, Personal Income and Personal Disposable Income
• Measurement of National Income –Value Added method, Income method and Expenditure Method
Unit II: Determination of Income and Employment
• Aggregate demand, aggregate supply and their components
• Propensity to consume and propensity to save (average and marginal)
• Meaning of involuntary unemployment and full employment
• Determination of income and employment: two sector model
• Concept of investment multiplier and its working
• Problems of excess and deficient demand
• Measures to correct excess and deficient demand – availability of credit, change in government spending
Unit III: Money and Banking
• Money: meaning, evolution and functions
• Central bank: meaning and functions
• Commercial banks: meaning and functions
• Recent significant reforms and issues in Indian Banking System: privatisation and modernization
Unit IV: Government Budget and the Economy
• Government budget – meaning and its components
• Objectives of government budget
• Classification of receipts – revenue and capital; classification of expenditure – revenue and capital, plan and non-plan, and developmental and non-developmental
• Balanced budget, surplus budget and deficit budget: meaning and implications
• Revenue deficit, fiscal deficit and primary deficit: meaning and implications; measures to contain different deficits
• Downsizing the role of government: meaning and implications
Unit V: Balance of Payments
• Foreign exchange rate – meaning (fixed and flexible), merits and demerits; determination through demand and supply
• Balance of payments accounts – meaning and components
• A brief analysis about recent exchange rate issues