Description
Part A: Statistics for Economics
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Unit 1: Introduction:This unit covers the meaning, scope, and importance of statistics in economics, along with the functions of statistics.
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Unit 2: Collection, Organisation, and Presentation of Data:This unit focuses on the sources of data (primary and secondary), methods of data collection, and how to organize and present data using frequency distributions.
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Unit 3: Statistical Tools and Interpretation:This unit covers measures of central tendency (mean, median, mode), measures of dispersion (range, quartile deviation, mean deviation, standard deviation), and correlation. It also includes an introduction to index numbers and their uses.
Part B: Introductory Microeconomics
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Unit 4: Introduction:This unit introduces basic economic concepts like what is economics, scarcity, and basic economic problems (what to produce, how to produce, for whom to produce, and efficient use of resources). It also covers different types of economies (developed and developing) and economic systems (capitalism, socialism, and mixed economy).
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Unit 5: Consumer’s Equilibrium and Demand:This unit explores the concepts of consumer behavior, utility (total and marginal utility), indifference curves, consumer’s equilibrium, and demand (individual and market demand).
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Unit 6: Producer Behaviour and Supply:This unit covers the concepts of production (total, average, and marginal product), cost (short-run costs like total cost, fixed cost, variable cost, and their relationships), and revenue (total, average, and marginal revenue and their relationships). It also covers the concepts of producer’s equilibrium and supply (individual and market supply).
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Unit 7: Forms of Market and Price Determination under perfect competition:This unit focuses on the concept of perfect competition, price determination, and simple applications.
Part C: Project Work
- This section includes guidelines for conducting a project work in economics, focusing on research methodology, data analysis, and presentation.
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