DAMODARAM SANJIVYYA NATIONAL LAW UNIVERSITY

Visakhapatnam

COURSE OUTLINE, 2015-16 (Even Semester)

Title of the Subject: Economics-1 Semester: Second

Name of the Faculty: Abhishek Sinha Total No. of Hours: 60
Note: Academic Session 02 nd December, 2015 to13 th April, 2016

Unit UNIT 1 No. of

# Topic: Micro Economics Hours
1.1 Nature and Scope of Economics: Basic Concepts of Economics, Micro and 4
Macro Economics, Statics and Dynamics and Comparative, Positive and
Normative Economics, Economics and Law
1.2 Theory of Demand: Cardinal and Ordinal Utility; Law of Diminishing Marginal 4
Utility, Law of equi-marginal principle, Law of Demand.
1.3 Elasticity of Demand. 1
1.4 Risk and uncertainty Theory 1
1.5 Consumers Surplus 1
0111 UNIT 2
Topic: Micro Economics
2.1 Theory of Production: Production Function and Factors of Production, Law of 2
Variable Proportions, Returns to Scale
2.2 Cost curves and function 1
2.3 Revenue, and Profit Functions, and Profit Maximization. 1
2.4 Price Determination in different markets: 2
Perfect and Imperfect Competition, Monopoly and its regulation
2.5 Monopolistic competition, and Oligopoly 2
UNIT 3
Topic: Macro Economics-I
3.1 National Income Concepts and 1
Measurement
3.2 Theories of Co+nsumption 2
3.3 Theories of Investment 2
3.4 Theories of Employment 2
UNIT 4
Topic: Macro Economics-II

4.1 Meaning and Value of Money- Fishers Quantity theory of Money 2

4.2 later developments in The Theory of Money 2
4.3 Monetary Policy 1
4.4 Role of Reserve Bank of India (RBI) 1
UNIT 5
Topic: Public Finance-I
5.1 Taxation: Cannons and its Objectives 1
5.2 Direct and Indirect Taxes 1
5.3 Taxation in Developed Countries 1
5.4 Taxation in Developing Countries 1
UNIT 6
Topic: Public Finance-II
6.1 Public Expenditure: Nature and Importance 2
6.2 Public Debt: Nature, Objective and Management 1
1
 6.3 Fiscal policy- fiscal federalism 1
6.4 Role of Finance Commission-FRBM Act 2
UNIT 7
Topic: International Economics-I
7.1 Classical Theories of International Trade 2
7.2 Modern Theories of International Trade 2
7.3 Balance of Payments: Meaning and Its 1
Importance
7.4 Equilibrium and Disequilibrium in The BOP 1
UNIT 8
Topic: International Economics-II
8.1 Exchange Rate Regimes- Fixed Vs Flexible 1
8.2 FERA (1973), and FEMA(1999) 1
8.3 International Financial Institutions-IMF,IBRD, and WTO 2
8.4 WTO: Nature, Importance 2
UNIT 9
Topic: External Sector
9.1 Foreign Direct Investment (FDI) 1
9.2 Foreign Debt Burden 1
9.3 Foreign Trade Policy 2
9.4 Environment and Pollution Control Policy 2

Books for Reference

Sl. No. Author Title of the Book Publisher

1. Paul A. Samuelson Economics Tata McGraw Hill

& William D.
Nordhaus

2. Gregory N. Mankiw Principles of Economics South-Western College Pub

3. Richard G. Lipsey & Positive Economics Oxford University Press

K. Alec Chrystal

4. Donald S. Watson Price Theory and its Uses Houghton Mifflin Company

5. A.Koutsoyiannis Modern Micro Economics Princeton University Press

6. A.W.Stonier and D.C. A Text Book of Economic Longman Higher Education

Hague Theory, 5th.edition

7. E.Shapiro Macro Economics Harcourt Brace Jovanovich

8. R.A.Musgrave and Public Finance in Theory and Mcgraw-Hill College

P.B.Musgrave Practice

9. Bo Sodersten and International Economics London : Macmillan

Geoffrey Read

10. K.C. Gopalkrishnan Economics Eastern co.

and Ramdas

2
11. SurabhiArora Economics for Law Students Central Law Publications

12. Rangarajan, C Macroeconomics Tata-McGraw Hill

13. P.G.Babu, A.V.Raja, Economic Analysis of Law in Oxford University Press

Hans-Bernard India: Theory and Practice
Schafer, (2010)
T.S.Somashekar and
Thomas Eger