NCERT Introductory Macroeconomics & Microeconomics Textbook for Class 12 – 12105 & 12103 (Set of 2 books)

Introductory Macroeconomics – Textbook in Economics for Class – 12 – 12105

p>The 2014 edition of Introductory Macroeconomics – Textbook in Economics helps the students of class 12 to study the branches of economics that cover the behaviour and performance of an economy as a whole. It has been published by NCERT and closely maintains parity with the syllabus that has been laid out by the CBSE.

The Contents of the Book are as Follows:
• INTRODUCTION
• Emergence of Macroeconomics
• Context of the Present Book of Macroeconomics
• 2. NATIONAL INCOME ACCOUNTING
• Some Basic Concepts of Macroeconomics
• Circular Flow of Income and Methods of Calculating National Income
– The Product or Value Added Method
– Expenditure Method
– Income Method
• Some Macroeconomic Identities
• Goods and Prices
• GDP and Welfare
• 3. MONEY AND RANKING
• Functions of Money
• Demand for Money
– The Transaction Motive
– The Speculative Motive
• The Supply of Money
– Legal Definitions: Narrow and Broad Money
– Money Creation by the Banking System
– Instruments of Monetary Policy and the Reserve Bank of India
• 4. INCOME DETERMINATION
• Ex-ante and Ex-post
• Movement Along a Curve versus Shift of a Curve
• The Short Run Fixed Price Analysis of The Product Market
– A Point on the Aggregate Demand Curve
– Effects of an Autonomous Change on, Equilibrium Demand in the Product Market
– The Multiplier Mechanism
• 5. THE Government: BUDGET AND THE ECONOMY
• Components of the Government Budget
– The Revenue Account
– The Capital Account
– Measures of Government Deficit
• Fiscal Policy
– Changes in Government Expenditure
– Changes in Taxes
– Debt
• 6. Open ECONOMY macroeconomics
• The Balance of Payments
– BoP Surplus and Deficit
• The Foreign Exchange Market
– Determination of the Exchange Rate
– Flexible Exchange Rates
– Fixed Exchange Rates
– Managed Floating
-Exchange Rate Management: The International Experience
• The Determination of Income in an Open Economy
– National Income Identity for an Open Economy
– Equilibrium Output and the Trade Balance
• Trade Deficits, Savings and Investment

Salient Features of the Textbook:
• Helps the students understand and analyse all aggregate indicators and the macroeconomic factors that influence the economy.
• Helps the students to understand how the government and corporations use macroeconomic models to help in formulating economic policies and strategies.
• Includes interactive database that is full of graphs and schematic representations of data, which not only makes it easy to grasp the basic concepts but also easy to memorise.
Introductory Microeconomics – Textbook in Economics for Class – 12 – 12103
p>A great handbook to learn the different phenomenon of Economics, this Introductory Microeconomics – Textbook remains an all-time favourite amongst students who are preparing for their Class 12 examinations. Published by NCERT, it closely maintains strict parity with the syllabus that has been laid out by CBSE. The 2013 edition has been published in 2014 and comes in a paperback form.

Following chapters Included in the Textbook

1. Introduction

• A Simple Economy

• Central Problems Of An Economy

• Organisation Of Economic Activities

– The Centrally Planned Economy

– The Market Economy

• Positive And Normative Economics

• Microeconomics And Macroeconomics

• Plan Of The Book

2. Theory Of Consumer Behaviour

• The Consumers Budget

– Budget Set

– Budget Line

– Changes In The Budget Set

• Preferences Of The Consumer

– Monotonic Preferences

– Substitution Between Goods

– Diminishing Rate Of Substitution

– Indifference Curve

– Shape Of The Indifference Curve

– Indifference Map

– Utility

• Optimal Choice Of The Consumer

• Demand

– Demand Curve And The Law Of Demand

– Normal And Inferior Goods

– Substitutes And Complements

– Shifts In The Demand Curve

– Movements Along The Demand Curve And Shifts In The Demand Curve

• Market Demand

• Elasticity Of Demand

– Elasticity Along A Linear Demand Curve

– Factors Determining Price Elasticity Of Demand For A Good

– Elasticity And Expenditure

3. Production And Costs

• Production Function

• The Short Run And The Long Run

• Total Product. Average Product And Marginal Product

– Total Product

– Average Product

– Marginal Product

• The Law Of Diminishing Marginal Product And The Law Of Variable Proportions

• Shapes Of Total Product, Marginal Product And Average Product Curves

• Returns To Scale

• Costs

– Short Run Costs

– Long Run Costs

4. The Theory Of The Firm Under Perfect Competition

• Perfect Competition: Defining Features

• Revenue

• Profit Maximisation

– Condition 1

– Condition 2

– Condition 3

– The Profit Maximisation Problem: Graphical Representation

• Supply Curve Of A Firm

– Short Run Supply Curve Of A Firm

– Long Run Supply Curve Of A Firm

– The Shut Down Point

– The Normal Profit And Break-Even Point

• Determinants Of A Firms Supply Curve

– Technological Progress

– Input Prices

– Unit Tax

• Market Supply Curve

– Price Elasticity Of Supply

– The Geometric Method

5. Market Equilibrium

• Equilibrium, Excess Demand, Excess Supply

– Market Equilibrium: Fixed Number Of Firms

– Market Equilibrium: Free Entry And Exit

• Applications

– Price Ceiling

– Price Floor

6. Non-Competitive Markets

• Simple Monopoly In The Commodity Market

– Market Demand Curve Is The Average Revenue Curve

– Total, Average And Marginal Revenues

– Marginal Revenue And Price Elasticity Of Demand

– Short Run Equilibrium Of The Monopoly Firm

• Other Non-Perfectly Competitive Markets

-Monopolistic Competition

-How Do Firms Behave In Oligopoly?

Salient Features:

• It contains a knowledge base that has been divided into chapters and sub-sections that contain easy to understand definitions in English.

• The data that adorns the book has been curated by trusted government research works and sources so as to enrich content with trustworthy citations.

• Different schematic representations and graphs will help the students understand the concepts very easily.

• An additional foreword and glossary will help student dive deep into the concepts of Economics.