| UNIT | SUBJECTS OF STUDY |
|---|---|
| 1 | Micro and Macro Economics-Importance, uses and difference |
| 2 | Theory of Demand- Cardinal and Ordinal measurement theory, Revealed preference, Hicks Logical Ordering theory, Elasticity. |
| 3 | Theory of Production and Cost- Law of variable proportion, Production function with two variables, Returns to scale, Cost of production and cost. |
| 4 | The Theory of Distribution- Marginal productivity, Land, Interest, Profit and wages theories. |
| 5 | Market Theory- All types of markets, firm and industry behaviour in different markets, Price discrimination. |
| 6 | Theory of Income and Employment- Classical and Keynesian theory. |
| 7 | National Income- Concepts and methods |
| 8 | Consumption and Investment Theory– Keynes theory, MEC, Propensity to save and invest Life cycle theory of consumption, a permanent theory of consumption. |
| 9 | Money and Banking-Functions of money. Commercial bank, and RBI, Monetary policy. |
| 10 | Theory of intervention- Tariff and Import quota, Free trade and protection. |
IEC University was established on May 11, 2012 as a UGC-affiliating, teaching and research University in the state of Himachal Pradesh. With the expertise of more than 41 years in education, IEC University takes its inspiration from the university's mission to equip students with knowledge and life skills, so that they can emerge as successful individuals in the world of rapid social and technological change. The University thrives to promote quality education and research, and provides various opportunities to students to explore their potential and excel in life.
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