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Best Coaching Classes are given to 12th Students for ECONOMICS. We have Expert and Experienced faculties having more than 25 years of Experience. Students from VIP Road , Zirakpur, Mohali, Chandigarh and Panchkula are already taking the advantage and returning the productivity of our efforts and hard work in the form of Excellent Results.
We assist our students to perform better and achieve desired results in their exams. Our faculty applies the self –learning and assessment tools for the growth of students, along with this we work on the student’s over all personality grooming by giving PD sessions time to time. We ensure one to one attention to be given to our each student, to boost up their performance. We apply the following tools in Quality and well programmed classroom coaching to meet the targets of Teacher, Students and Parents.
1. Personalized Learning: Our faculties are highly experienced hence they enables and enhance a student’s learning skills which includes the use of expertise and statistics to resolve complex issues, running collaboratively, communicating efficiently, mastering how to analyze, and growing instructional mindsets. They empower students to be actively involved in the processes of their own learning, rather than passively receptive.
2. Weekly Mock tests: We conduct tests on weekly basis, to have strong command on the covered topics and to clear the doubts related to subject if any. This helps in developing self confidence and performance in the exams.
3. Timely completion of syllabus: We ensure to complete the syllabus timely so that student have enough time left for the revision and doubts clearing sessions can be conducted before final examinations.
4. Educational videos: The videos are made for important topics and same has been uploaded for the convenience of students which helps them to revise those topics being taught in class.
5. Free Educational App: Online educational app is available for our foundation group of students covering all the important area of their syllabus. Students can take help to make handy notes from the app and can use them for further competitive exams.
6. Get Online Assignments: We provide multiple assignments covering each topic which is helpful in examinations and class room tests.
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What is an economy? Central problems of an economy : what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.
Unit 2: Consumer Equilibrium and Demand
Consumer's equilibrium – meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer's equilibrium using marginal utility analysis.
Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium.
Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurenment of price elasticity of demand – (a) percentage-change method and (b) geometric method (linear demand curve); relationship between price elasticity of demand and total expenditure.
Unit 3: Producer Behaviour and Supply
Production function - Short-Run and Long-Run
Total Product, Average Product and Marginal Product.
Returns to a Factor.
Cost and Revenue: Short run costs - total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationship.
Revenue - total, average and marginal revenue - meaning and their relationship.
Producer's equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost.
Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply – (a) percentagechange method and (b) geometric method.
Unit 4: Forms of Market and Price Determination
Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply.
Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features.
Simple Applications of Demand and Supply: Price ceiling, price floor.
Part B: Introductory Macroeconomics
Unit 5: National Income and related aggregates
Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.
Circular flow of income; Methods of calculating National Income – Value Added or Product method, Expenditure method, Income method.
Aggregates related to National Income: Gross National Product (GNP), Net National Product (NNP), Gross and Net Domestic Product (GDP and NDP) - at market price, at factor cost; National Disposable Income (gross and net), Private Income, Personal Income and Personal Disposable Income; Real and Nominal GDP.
GDP and Welfare
Unit 6: Money and Banking
Money - its meaning and functions.
Supply of money - Currency held by the public and net demand deposits held by commercial banks.
Money creation by the commercial banking system.
Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's Bank, Controller of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit 7: Determination of Income and Employment
Aggregate demand and its components. Propensity to consume and propensity to save (average and marginal).
Short–run equilibrium output; investment multiplier and its mechanism.
Meaning of full employment and involuntary unemployment.
Problems of excess demand and deficient demand; measures to correct them - change in government spending, taxes and money supply.
Unit 8: Government Budget and the Economy
Government budget - meaning, objectives and components.
Classification of receipts - revenue receipts and capital receipts; classification of expenditure - revenue expenditure and capital expenditure.
Measures of government deficit - revenue deficit, fiscal deficit, primary deficit their meaning.
Unit 9: Balance of Payments
Balance of payments account - meaning and components; balance of payments deficit-meaning.
Foreign exchange rate - meaning of fixed and flexible rates and managed floating.