1. Introduction to Microeconomics:
   • Economics and Economy: Basic concepts of economics, the difference between microeconomics and macroeconomics, and the central problems of an economy (what, how, and for whom to produce).
   • Production Possibility Curve (PPC): Understanding the concept of opportunity cost and the PPC, illustrating the trade-offs and choices in an economy.
2. Consumer's Equilibrium and Demand:
   • Consumer's Equilibrium: Understanding how consumers make choices to maximize satisfaction (utility) given their budget constraints, using the concepts of indifference curves and budget lines.
   • Law of Demand: The relationship between the price of a good and the quantity demanded, the demand curve, and factors affecting demand.
   • Elasticity of Demand: Types of elasticity (price, income, and cross elasticity), factors influencing elasticity, and its measurement.
3. Producer's Behavior and Supply:
   • Production Function: The relationship between inputs and outputs, the law of variable proportions, and returns to scale.
   • Cost and Revenue: Different types of costs (fixed, variable, total, average, and marginal costs) and revenues (total, average, and marginal revenues).
   • Supply: The law of supply, the supply curve, and factors affecting supply.
   • Elasticity of Supply: Understanding the responsiveness of quantity supplied to changes in price.
4. Forms of Market and Price Determination:
   • Market Forms: Understanding different market structures—perfect competition, monopoly, monopolistic competition, and oligopoly.
   • Price Determination: How prices and output are determined under different market conditions, including the concepts of equilibrium price and quantity.
   • Market Equilibrium: Effects of changes in demand and supply on market equilibrium.
5. Simple Applications of Tools of Demand and Supply Curves:
   • Price Ceiling and Price Floor: Understanding government intervention in markets through price controls.
   • Consumer Surplus: Concept and its significance in welfare economics.

Part B: Statistics for Economics

Statistics for Economics involves the collection, presentation, analysis, and interpretation of data. This part focuses on the quantitative aspects of economic analysis.

1. Introduction to Statistics:
   • What is Statistics?: Understanding the meaning, scope, and importance of statistics in economics.
   • Limitations of Statistics: Recognizing the potential pitfalls and limitations in the use of statistical data.
2. Collection, Organization, and Presentation of Data:
   • Collection of Data: Primary and secondary data, methods of collecting data, and the importance of data accuracy.
   • Organization of Data: Classification and tabulation of data, preparing frequency distributions.
   • Presentation of Data: Various methods of presenting data, including textual, tabular, and diagrammatic representations (bar graphs, histograms, pie charts).
3. Statistical Tools and Interpretation:
   • Measures of Central Tendency: Mean, median, and mode—their calculation and significance in data interpretation.
   • Measures of Dispersion: Range, quartile deviation, mean deviation, and standard deviation—understanding the spread of data.
   • Correlation: Understanding the relationship between two variables, calculation of correlation using Karl Pearson's and Spearman's methods.
   • Index Numbers: Concept and construction of index numbers, uses, and limitations in economic analysis.
4. Introduction to Index Numbers:
   • Consumer Price Index (CPI): Understanding how the CPI is calculated and its role in measuring inflation.
   • Wholesale Price Index (WPI): Concept and importance of WPI in the economy.
   • Uses of Index Numbers: Application of index numbers in real-world scenarios, such as inflation measurement and cost of living adjustments.

Part C: Developing Projects in Economics

• Project Work: Students are required to undertake a project on a topic related to economics. This includes selecting a topic, collecting data, analyzing it using statistical tools, and presenting the findings.

Assessment and Examination

• The course is assessed through a combination of theoretical exams, practical work, and project assignments. Theoretical exams test students' understanding of economic concepts and their ability to analyze and interpret data. The project work and practical assignments help students apply theoretical knowledge to real-world situations, enhancing their analytical and research skills.