Economics and Statistics

CS: Foundation Programme
Paper 2 : Economics and Statistics
[One paper: Three Hours – 100 marks]

Level of Knowledge :

Basic knowledge.

Objective . . .             

To provide basic and conceptual understanding of economic concepts, principles of economics and statistical tools to interpret and analyse various economic phenomena.

Detailed Contents . . .

Part A : Economics (50 Marks)

1.	Nature and Scope of Economics
	Definition, nature and scope of economics; micro and macroeconomics; positive and normative economics; working of economic systems with special reference to the capitalistic, socialistic and the mixed economies.
2.	Demand and Supply Analysis
	Utility analysis - total utility and marginal utility; law of diminishing marginal utility; law of equi-marginal utility; consumers’ equilibrium; law of demand; elasticity of demand; law of supply, elasticity of supply; demand and supply equilibrium.
3.	Production, Costs and Revenue Analysis
	Factors of production, meaning of production, laws of returns; returns to scale; cost concepts and cost curves; revenue concepts and revenue curves.
4.	Market Forms and Equilibrium of the Firm and Industry
	Market forms - meaning and characteristics; price and output Introduction of New Syllabus of the Company Secretaryship Course Student Company Secretary 36 November 2007 determination and equilibrium of firm and industry under perfect competition, monopoly and monopolistic competition.
5.	Basic characteristics of Indian Economy
	Role of Agriculture, Industry & Service Sectors in the development of the Indian Economy; National income of India – Concept, significance, trends and measurement of national income.
6.	Select Areas of Indian Economy
	Population – size and growth and impact of population on economic development; unemployment –nature, various measures to reduce it; foreign trade and India’s balance of payments. Five Year Plans and economic development; fiscal policy and national budget.
7.	Money and Banking
	Concept of money – its functions; Commercial Banks – role and functions; quantity theory of money; credit creation; Reserve Bank of India and its functions and monetary policy.
8.	Economic Reforms and Liberalisation
	Major economic reforms since 1991; Globalisation and its impact on Indian Economy; concept of WTO- an overview.

Part B : Statistics (50 Marks)

9.	Descriptive Statistics
	Definition and functions of statistics, statistical techniques commonly used in business activities, law of statistics, limitations of statistics.
10.	Collection and Presentation of Statistical Data
	Primary and secondary data; Classification and, tabulation of data; frequency distribution of data; diagrams and graphs.
11.	Measures of Central Tendency
	Mean, median and mode, geometric mean and harmonic mean.
12.	Measures of Dispersion
	Range, quartile deviation, mean deviation, standard deviation.
13.	Correlation Analysis
	Meaning, significance, nature and types of correlation; Karl Pearsons coefficient of correlation; rank correlation.
13.	Index numbers and Time Series Analysis
	Familiarisation with the concepts relating to index numbers and time series (Simple Numerical Problems).