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Introduction and Lecture Schedule

This course introduces students to basic economic concepts including demand and supply, market structures, and their application to horticulture. Students will understand consumer behavior theory, utility, indifference curves, demand curves, elasticity, and the supply side including costs and the factors of production. They will also be introduced to the measurement of national income and how horticulture contributes to economic development. Suggested readings provide additional resources for students to learn microeconomics, elementary economics, advanced economic theory, and agricultural economics.

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20 views

Introduction and Lecture Schedule

This course introduces students to basic economic concepts including demand and supply, market structures, and their application to horticulture. Students will understand consumer behavior theory, utility, indifference curves, demand curves, elasticity, and the supply side including costs and the factors of production. They will also be introduced to the measurement of national income and how horticulture contributes to economic development. Suggested readings provide additional resources for students to learn microeconomics, elementary economics, advanced economic theory, and agricultural economics.

Uploaded by

RohitPatial
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Introduction to the course

The broad objective of this course is to acquaint the beginner with the basic concepts
of economics. Specifically the students at the end of this course will be able to understand the
basic concepts of demand and supply, marker structure and their application in horticulture.
An introduction to the concepts of national income also helps them to understand the
importance of these concepts in the development of the economy and the contribution of
horticulture in the national income.

Suggestive Readings
Jain TR, 2005 Microeconomics and basic mathematics, VK Publication New Delhi
Dewett, K.K. and Chand, A.2009 Modern Economic Theory S.Chand and Co.,New Delhi
Dewett, K.K. and Varma, J.D. 1986 Elementary Economics S.Chand and Co.,New Delhi.
Jhingan, M.L.1990 Advanced Economic Theory Vikas Publishing House, New Delhi
Subba Reddy, S, Raghu Ram, P., Sastry, T.V.N. and Bhavani Devi, I. 2010 Agricultural
Economics Oxford & IBH Publishing Co., Pvt. Ltd., New Delhi

LECTURE OUTLINE FOR THE E-COURSE INTODUCTORY


ECONOMICS 2(2+0)
Weeks

Lectures

1st Week

Nature scope, definition, concepts, division of economics, economic systems,


approaches to the study of economics

2nd Week

Consumption: theory of consumer behaviour, laws of consumption

3rd Week

Classification of goods, wants-their characteristics and classification,

4th Week

Utility and its measurement. Cardinal and ordinal, law of diminishing


marginal utility

5th Week

Law of equi marginal utility, Indifference curve, its properties. Consumer


equilibrium

6th Week

Theory of demand, demand schedule and curve, market demand

7th Week

Price, income and cross elasticity Engels law of family expenditure

8th Week

consumers surplus, Law of supply supply schedule and elasticity

9th Week

Theory of firm factors of production, Law of returns law of diminishing


marginal returns

10th Week Land- and its characteristics, labour and division of labour, capital and its
characteristics,

11th Week

Classification and capital formation Enterprises- forms of business


organization merits and demerits

12th Week

Cost concepts

13th Week

Firms equilibrium Market its classification and price determination under


perfect competition and monopoly

14th Week

Introduction of distribution theories with particular reference to Ricardian


theory of rent,

15th Week

Marginal productivity theory of wages

16th Week

Liquid theory of interest risk taking

17th Week

Uncertainty bearing theory of profit

18th Week

Introduction to national income

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