PROGRESSIVE PUBLIC SCHOOL

ECONOMICS (2281) SYLLABUS BREAKUP

(3 YEARS STUDY PROGRAM)

1ST YEAR (9th)

1. THE BASIC ECONOMIC PROBLEM

• The nature of economic problem

• Finite resources and unlimited wants
• Economic and free goods
• The factors of production
• Definition and their rewards
• Mobility of factors
• Quantity and quality of factors
• Opportunity cost
• Definition
• Influence of opportunity cost on decision making
• Production possibility curve (PPC)
• Definition
• Points under, on and beyond a PPC
• Movement along PPC
• Shifts in PPC
2. THE ALLOCATION OF RESOURCES
• Micro economics and macro economics
• Market economic system
• Definition, advantages and disadvantages
• Market failure
• Definition
• Causes
• Consequences
• Mixed economic system
• Definition
• Government intervention to address market failure
3. MICROECONOMICS DECISION MAKERS
• MONEY AND BANKING
• MONEY
• BANKING
4. TRADE UNIONS
• Definition
• Role of trade union in an economy
• Advantages and disadvantages
 2nd YEAR (10th )

2. THE ALLOCATION OF RESOURCES

• THE ROLE OF MARKET IN ALLOCATING RESOURCES
• The market system
• Key resources
• Price mechanism
• DEMAND
• Definition
• Price and demand
• Individual and market demand
• Conditions of demand
• Price elasticity of demand (definition, calculation, determination, significance)
• SUPPLY
• Definition
• Price and supply
• Individual and market supply
• Conditions of supply
• Price elasticity of supply (definition, calculation, determination, significance)
• PRICE DETERMINATION (market equilibrium, disequilibrium)
• PRICE CHANGES (causes, consequences)

3. MICROECONOMICS DECISION MAKERS

• HOUSEHOLDS
• The influence on spending, saving and borrowing
• WORKERS
• Factors affecting an individual’s choice Reasons for difference in earning.
• Division of labour / specialisation
• Business Organizations
• Sole Trader
• Partnership
• Pvt. Ltd Co.
• Public ltd. Co
• Co-operatives
• Franchise
• Public sector
• FIRMS AND PRODUCTION
• Demand for factors of production
• Labour and capital intensive
• Production and productivity
• FIRMS ‘COST, REVENUE OBJECTIVES’
• Cost Definition
• Calculation of cost of production
• Revenue definition and calculation
• Objectives of firm
3rd YEAR (11th )

3. MICRO ECONOMICS DECISION MAKERS

FIRMS
 Classification
 Causes and forms of growth of firms
 Mergers
 Economies and diseconomies of scale
• MARKET STRUCTURE
• Competitive market
• the Monopoly market
4. GOVERNMENAT AND THE MACROECONOMY
• the role of government
• macroeconomics aims
• possible conflicts
• FISCAL POLICY
• Definition of budget
• Reasons for govt. Spending
• Taxation principles, classification and impact
• Measures and effects of fiscal policy
• MONETORY POLICY
• Definition, measures and effects on govt. Aims  SUPPLY SIDE POLICIES
• Definition, measures and effects on govt. Aims
• ECONOMIC GROWTH
• Definition, measurement, causes ,consequences and policies
• EMPLOYMENT AND UNEMPLOYMENT
• Definition, full employment level, measures, types of unemployment, consequences and
policies to reduce unemployment
• INFLATION AND DEFLATION
• Definition, measurement, causes, consequences and policies to control.
5. ECONOMIC DEVELOPMENT
• Living standards
• Poverty
• Population
• Difference b/w economic development in countries
6. INTERNATIONAL TRADE AND GLOBALISATION
• International specialisation
• Globalisation, free trade and protection
• Foreign exchange rates
• Current account of balance of payments