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Saturday 17 October 2020

FBISE HSSC PRINCIPLES OF ECONOMICS REDUCED SYLLABUS

 A good news for HSSC commerce students that principles of Economics syllabus is reduced. A reduced principles of economics syllabus is uploaded on fbise website. You can also check & share online principles of economics syllabus from here:

 

FBISE HSSC I REDUCED SYLLABUS
PRINCIPLES OF ECONOMICS

MICRO ECONOMICS

What is Economics about?

a. The nature, (Definitions) and Methods of Economic Analysis

1. Demand and Supply:

a. Law of demand, Changes in demand, Elasticity of demand, Measurement of

elasticity of demand (outlay method)

 b. Supply vs Stock, Law of supply

 c. Equilibrium between demand and supply

 d. Effects of changes in demand and/or supply on market equilibrium

2. Consumer Demand Theory:

 Law of Diminishing Marginal utility (cardinal approach)

3. The Cost and Revenue of a Firm:

Classification of cost: Fixed Cost, Variable Cost, Total Average Cost, Marginal Cost

(Concepts and Graphical Representation)

Total Revenue, Marginal and Average Revenue (Concepts and Graphical Representation)

4. Laws of Returns: (Law of Variable Proportions)

5. Price and Output Determination:

Concept of Perfect Competition, Price and Output determination under-Perfect

Competition

6. Resource Pricing:

 b. Factors of Production (brief introduction)

 (i) Land and its Characteristics

 (ii) Labour and its Characteristics

 (iii) Capital and its Importance

 (iv) Organization and its Forms (introduction)

54

MACRO ECONOMICS

1. National Income

 Measurement of National Income:

 a. National Income at factor Price

 b. National Income at Market Price

 c. Expenditure approach to income measurement

 d. Concept of National Income

i. GNP = Gross National Product

ii. GDP = Gross Domestic Product

iii. NNP = Net National Product

iv. NI = National Income

v. PI = Personal Income

vi. DPI = Disposable Personal Income

vii. PCI = Per-Capita Income

2. Money

 a. Money (Definition)

 b. Functions of money

 c. Inflation and its effects

3. Business Cycle

 a. Phases of Business Cycle

4. International Trade

 a. Introduction to International Trade

 b. Balance of Trade and Balance of Payment

5. Public Finance

 a. Cannons of Taxation

 b. Zakat and Ushr

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