PART - A
Chapter -
Building Blocks
in Economics
Scarcity of resources, opportunity cost and the need for making choice. What do economists do?What to produce, how to produce, and for whom to produce? • Difference between market, centrally planned, and mixed economic systems • Welfare economy
Chapter -
The Price Puzzle:
What Drives the Market
Laws of demand and supply • Real-world deviations from textbook theory, such as in case of necessities, luxury goods, perishable items, and expectations • Some related concepts — price ceilings and market failures (externalities, information asymmetry, public goods)
PART - B
Chapter -
From Ideas to Startups
What is entrepreneurship and explain the resources required to start a business • Case studies of successful entrepreneurs • Creative destruction with examples • Start-up ecosystem in India. • Make in India initiative, role of MSMEs and the unorganised sector in India’s economic growth. • Stages of starting and executing a business idea through a business plan • Some basic accounting concepts
Chapter -
Smart Ways to
Manage Your Finances
Relevance of personal financial management in daily life • Inflation and its impact on purchasing power • Simple vs. compound interest rate • Budgeting • Various savings and investment options like fixed deposit, stocks, bonds, mutual funds, etc. • Risk and insurance • Personal income tax