AP Inter 1st Year Syllabus 2023 Economics

SYLLABUS
ECONOMICS - I FIRST YEAR
S. No. TOPIC
1. Unit-I: Introduction
1.0 Origin and Meaning of Economics
1.1 Definition of Economics
Wealth Definition
Welfare Definition
Scarcity Definition
Growth Definition
Jacob Viner’s Definition
1.2 Concepts of Economics
Micro Economics
Scope of Micro Economics
Importance of Micro Economics
Macro Economics
Scope of Macro Economics
Importance of Macro Economics
1.3 Deductive and Inductive Methods
Deductive Method
Inductive Method
1.4 Economics Static and Dynamic Analysis
Economics Statics
Economic Dynamics
1.5 Positive and Normative Economics
Positive Economics
Normative Economics
1.6 Goods
Free Goods
Economic Goods
Difference between Free Goods and Economic Goods
Consumer Goods
Producer Or Capital Goods
Intermediary Goods

Wealth
Income
1.9 Utility - Types of Utility
1.10 Value
1.11 Price
1.12 Wants
1.13 Welfare
2. Unit – II Theory of Consumers Behaviour
2.0 Objectives
2.1 What is Utility
2.2 Cardinal Utility
2.3 Ordinal Utility
2.4 Law of Diminishing Marginal Utility
2.5 Law of Equi-marginal Utility
2.6 Indifference Curve Analysis
2.7 Properties
2.8 Consumer’s Equilibrium
3. Unit – III Theory of Demand
3.0 Introduction
3.1 Meaning of Demand
3.2 Demand Function
3.3 Determinants of Demand
3.4 Price Demand – Law of Demand
Demand Schedule
Individual Demand Schedule
Individual Demand Curve
Market Demand Schedule
Market Demand Curve
Law of Demand
Exceptions to the Law of Demand
Reasons for the Downward or Negative Slope of Demand Curve
Changes in Demand – Extention- Contraction Increase and Decrease
3.5 Income Demand
Income Demand Schedule

Superior/ Normal
Inferior Goods
3.6 Cross Demand
Substitutes
Complementariness
Meaning of Elasticity of Demand
Types of Elasticity of Demand
3.9 Price Elasticity of Demand – Definition - Formula
Types of Price Elasticity of Demand
Methods of Measurement of Price Elasticity of Demand (1) Expenditure Method
(2) Point Method (3) Arc Method
Determinants of Price Elasticity of Demand
Importance of Price Elasticity of Demand
3.10 Income Elasticity of Demand
3.11 Cross Elasticity of Demand
4. Unit – IV Theory of Productions
4.0 Meaning of production
4.1 Factors of Production
4.2 Production Function
4.3 Law of Variable Proportions
4.4 Law of Returns of Scale
4.5 Internal and External Economies
4.6 Supply
4.7 Cost and Cost Curves
4.8 Revenue Analysis
5. Unit – IV Theory of Value
5.0 Introduction
5.1 Meaning
5.2 Classification of Markets
Time – Based Markets
Area Based Markets
Competition Based Markets
5.3 Perfect Competition
Price Determination

Equilibrium of a Firm
5.4 Imperfect Competition
Monopoly
Monopolistic Competition
Oligopoly
Duopoly
6. Unit – VI Theory of Distribution
6.0 Introduction
6.1 Distribution of Income
6.2 Determination of factor prices
6.3 Marginal productivity Theory
6.4 Rent – Concepts – Theories
6.5 Wage – Concepts – Theories
6.6 Interest – Concepts – Theories
6.7 Profit – Concepts- Theories
7. Unit –VII National Income
7.0 Introduction
7.1 Meaning
7.2 Definitions of National Income
Pigou’s Definition
Fisher’s Definition
Marshall’s Definition
Kuznet’s Definition
7.3 Factors that Determine the Size of National Income
7.4 Concepts of National Income
7.5 Components of National Income
7.6 Measurement of National Income
7.7 NI at Market Prices
8. Unit –VIII Macro Economic Aspects
8.0 Introduction
8.1 Classical economics
8.2 Concepts of Full Employment and Unemployment
8.3 Income, Output and Employment
8.4 Classical Theory of Employment

Implications of Classical Theory
Assumptions
Limitations of the Classical Theory
8.5 Keynesian theory of income and employment
Aggregate Supply
Aggregate Demand
Effective Demand
Inflationary gap
8.6 Public Economics
Public Revenue
Public Expenditure
public Debt
8.7 Budget
Structure and Components of the Budget
Types of Budget
Budget Deficits
9. Unit –IX Money, Banking and Inflation
9.0 Introduction
9.1 Money
Evolution of money
Difficulties of the Barter System
Definitions of Money
Functions of Money
Money and related concepts
Types of Money
Supply of Money
9.2 Banking
Commerical Banks
Functions of Commerical Banks
9.3 Central Bank / Reserve Bank of India
9.4 Reserve Bank of India (Central Bank of India)
Objectives of the Reserve Bank of India/ Central Bank of India
Functions of the Reserve Bank of India
9.5 Inflation

Definitions of Inflation
Types of Inflation
Causes of Inflation
Effects of Inflation
Measures to Control Inflation
9.6 Conclusion
10. Unit – X Economic Statistics
10.1 Economics
10.2 Statistics in Economics
10.3 What is Statistics?
10.4 What Statistics Does?
10.5 Conclusion
10.6 Collection of Data
10.7 Diagrammatic Presentation of Data
10.8 Geometric Diagram
10.9 Bar Diagram
10.10 simple Bar Diagram
10.11 Multiple Bar Diagram
10.12 Component Bar Diagram
10.13 pie Diagram
10.14 Measure of central Tendency
10.15 Arthmetic Mean
10.16 Mean calculating under ungrouped data
10.17 Mean calculating under Grouped Data Direct Method
10.18 Shortcut method or Deviation Method for Mean of a Grouped Data
10.19 Median
10.20 Median of a Grouped Data
10.21 Mode
10.22 Approximate Relation among, Mean, Median, Mode

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