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About the Book: The present book has been written for the students of B.Com. Pass, First Year, and B.A. Pass, First Year , of the University of Delhi. It covers the entire syllabus of the paper on "Economic Systems, and Microeconomic Theory" in a comprehensive and exhaustive way. In accordance with the syllabus, the book is divided into two sections- Sections A on `An Overview of Economic Systems and Organization` and Section B on `Micro Economic Theory`. Section A consists of 16 chapters and discusses issues relating to the central problems of an economy, economic systems and national accounting are generally found to be difficult by many students, adequate care has been take to ensure utmost clarity in discussion. Wherever necessary, numerical questions have been incorporated to explain the concepts ( in this context, see particularly chapter 7 and chapter 11 ). Chapters 2 to 6 deal with economic systems. Without a proper understanding of the modes of production, one cannot correctly appreciate the evolution of different economic systems. Therefore we start with a discussion on modes of production in chapter 2 and follow it up with a discussion on feudalism, capitalism and socialism in subsequent chapters. A separate chapter (chapter 6) is devoted to a discussion of the Indian economic system. Keeping in view the fact that the book is meant for first year students, the language of the book has been kept simple and treatment of the subject is lucid. All difficult concepts have been explained thoroughly in an easy manner and , for this purpose, liberal use of diagrams has been made. For the benefit of students, important definitions in all chapters have been highlighted separately in bold letters while important statements have been presented in italics. Book Contents:
Central Problems of an Economy
Mode of Production
Feudalism
Capitalism
Socialism
The Indian Economic System
National Income and Product - Structure and Concepts
Circular Flow of Income
National Income Estimation
National Income Estimation in India
National Income Aggregates : Significance and Inter relationships
National Income and Economic Welfare
National Capital
Inequalities of Income and Wealth
Inequalities of Income and Wealth in India
Labour Force : Occupational Structure
Price Mechanism
Demand and Supply
Elasticity of Demand and Supply
Marshallian Utility Analysis
Indifference Curve Analysis
Basics of the Price Theory and Applications of Demand and Supply Analysis
Theory of Production
Theory of Costs and Revenue
Theory of Price Under Perfect Competition
Theory of Price Under Monopoly
Theory of Price under Imperfect Competition
The Theory of Distribution : Factor Pricing
International Specialization : The Theory of Comparative CostsAbout the Author(s): S. K. Misra is a Reader in Economics in Hindu College, Delhi University and has a teaching experience spanning four decades. V.K. Puri is a Reader in Economics in Shyam Lal College, Delhi University and has a teaching experience of almost three decades. They have co-authored some very popular and widely acclaimed textbooks. These include Indian Economy (currently running in sixteenth edition), Bharatiya Arthavyavastha (the Hindi version of the above book currently running in tenth edition), Economics of Development and Planning (currently running in seventh edition). Microeconomics : Theory and Applications Part I and II (currently running in second edition). Modern Microeconomics and Modern Macroeconomic Theory.
About the Book: The present book has been written for the students of B.Com. Pass, First Year, and B.A. Pass, First Year , of the University of Delhi. It covers the entire syllabus of the paper on "Economic Systems, and Microeconomic Theory" in a comprehensive and exhaustive way. In accordance with the syllabus, the book is divided into two sections- Sections A on `An Overview of Economic Systems and Organization` and Section B on `Micro Economic Theory`. Section A consists of 16 chapters and discusses issues relating to the central problems of an economy, economic systems and national accounting are generally found to be difficult by many students, adequate care has been take to ensure utmost clarity in discussion. Wherever necessary, numerical questions have been incorporated to explain the concepts ( in this context, see particularly chapter 7 and chapter 11 ). Chapters 2 to 6 deal with economic systems. Without a proper understanding of the modes of production, one cannot correctly appreciate the evolution of different economic systems. Therefore we start with a discussion on modes of production in chapter 2 and follow it up with a discussion on feudalism, capitalism and socialism in subsequent chapters. A separate chapter (chapter 6) is devoted to a discussion of the Indian economic system. Keeping in view the fact that the book is meant for first year students, the language of the book has been kept simple and treatment of the subject is lucid. All difficult concepts have been explained thoroughly in an easy manner and , for this purpose, liberal use of diagrams has been made. For the benefit of students, important definitions in all chapters have been highlighted separately in bold letters while important statements have been presented in italics. Book Contents:
Central Problems of an Economy
Mode of Production
Feudalism
Capitalism
Socialism
The Indian Economic System
National Income and Product - Structure and Concepts
Circular Flow of Income
National Income Estimation
National Income Estimation in India
National Income Aggregates : Significance and Inter relationships
National Income and Economic Welfare
National Capital
Inequalities of Income and Wealth
Inequalities of Income and Wealth in India
Labour Force : Occupational Structure
Price Mechanism
Demand and Supply
Elasticity of Demand and Supply
Marshallian Utility Analysis
Indifference Curve Analysis
Basics of the Price Theory and Applications of Demand and Supply Analysis
Theory of Production
Theory of Costs and Revenue
Theory of Price Under Perfect Competition
Theory of Price Under Monopoly
Theory of Price under Imperfect Competition
The Theory of Distribution : Factor Pricing
International Specialization : The Theory of Comparative CostsAbout the Author(s): S. K. Misra is a Reader in Economics in Hindu College, Delhi University and has a teaching experience spanning four decades. V.K. Puri is a Reader in Economics in Shyam Lal College, Delhi University and has a teaching experience of almost three decades. They have co-authored some very popular and widely acclaimed textbooks. These include Indian Economy (currently running in sixteenth edition), Bharatiya Arthavyavastha (the Hindi version of the above book currently running in tenth edition), Economics of Development and Planning (currently running in seventh edition). Microeconomics : Theory and Applications Part I and II (currently running in second edition). Modern Microeconomics and Modern Macroeconomic Theory.
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