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