CA: Common Proficiency Test
[One paper: Four Sections - 200 marks]
SESSION – II : (Two Sections – Two hours – 100 Marks)
Section C : General Economics (50 Marks)
Level of Knowledge :
Basic knowledge.
Objective . . .
- To ensure basic understanding of economic systems, economic behaviour of individuals and organizations.
Contents ...
| I. | Micro Economics |
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| 1. | Introduction to Micro Economics |
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| (a) | Definition, scope and nature of Economics |
| (b) | Methods of economic study |
| (c) | Central problems of an economy and Production possibilities curve. |
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| 2. | Theory of Demand and Supply |
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| (a) | Meaning and determinants of demand, Law of demand and Elasticity of demand, Price, income and cross elasticity |
| (b) | Theory of consumer ’s behaviour – Marshallian approach and Indifference curve approach |
| (c) | Meaning and determinants of supply, Law of supply and Elasticity of supply. |
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| 3. | Theory of Production and Cost |
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| (a) | Meaning and Factors of production |
| (b) | Laws of Production - The Law of variable proportions and Laws of returns to scale |
| (c) | Concepts of Costs - Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs. |
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| 4. | Price Determination in Different Markets |
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| (a) | Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly |
| (b) | Price determination in these markets. |
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| II. | Indian Economic Development |
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| 5. | Indian Economy - A Profile |
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| (a) | Nature of the Indian Economy |
| (b) | Role of different sectors – Agriculture, Industry and Services in the development of the Indian economy, their problems and growth. |
| (c) | National Income of India – Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various plans. |
| (d) | Basic understanding of tax system of India – Direct and Indirect Taxation. |
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| 6. | Select Aspects of Indian Economy |
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| (a) | Population – Its size, rate of growth and its implication for growth |
| (b) | Poverty – Absolute and relative poverty and main programs for poverty alleviation |
| (c) | Unemployment – Types, causes and incidence of unemployment |
| (d) | Infrastructure Energy, Transportation, Communication, Health and Education |
| (e) | Inflation |
| (f) | Budget and Fiscal deficits |
| (g) | Balance of payments |
| (h) | External debts. |
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| 7. | Economic Reforms in India |
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| (a) | Features of economic reforms since 1991 |
| (b) | Liberalisation, Privatisation and Disinvestment |
| (c) | Globalisation. |
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| 8. | Money and Banking |
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| (a) | Money – Meaning and functions |
| (b) | Commercial Banks – Role and functions |
| (c) | Reserve Bank of India – Role and functions, Monetary policy. |
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