Course Description & Objectives:
- Scope and method of Economics.
- Concepts of economics. Elementary theory of price and distribution. The idea of scarcity and choice.
- The economy as a whole, the circular flow of income and its measurement.
- Survey of structure of the economy and domestic pricing policies using specified country examples.
- Comparative economic system, international economy and trade relation with the rest of the world.
- Other economic aspects including unemployment, underemployment and social welfare. Economic growth and development and role of tourism.