CW3301 Fundamentals of Economics Study Materials
Anna University – CW3301 Fundamentals of Economics Regulation 2021 Syllabus, Notes, Important Questions, Question Paper with Answers, Previous Year Question Paper
UNIT I INTRODUCTION TO MICRO ECONOMICS CW3301 Fundamentals of Economics Syllabus
Introduction to Economics – Themes of Economics – Micro Vs Macro Economics- Demand curves
and supply curves- Elasticity of Demand – Elasticity of Supply- Demand Curves of Households and
firms
UNIT II WELFARE ANALYSIS CW3301 Fundamentals of Economics Notes
Consumers and Producers Surplus- Price Ceilings and Price Floors; Consumer Behavior – Axioms
of Choice-Budget Constraints and Indifference Curves; Consumers Equilibrium Effects of a Price
Change, Income and Substitution Effects Derivation of a Demand Curve
UNIT III PRODUCTION AND COST FUNCTION CW3301 Fundamentals of Economics Important Questions
Theory of Production – Production Function and Isoquants – Cost Minimization; Cost Curves – Total,
Average and Marginal Costs – Long Run and Short Run Costs; Equilibrium of a Firm under Perfect
Competition; Monopoly and Monopolistic Competition
UNIT IV MACRO ECONOMICS CW3301 Fundamentals of Economics Question Paper
National Income and its Components – GNP, NNP, GDP, NDP Consumption Function; Investment;
Simple Keynesian Model of Income Determination and the Keynesian Multiplier; Government Sector
-Taxes and Subsidies; External Sector – Exports and Imports; Money -Definitions; Demand for
Money Transaction and Speculative Demand; Supply of Money – Banks Credit Creation Multiplier;
Integrating Money and Commodity Markets – IS, LM Model
UNIT V BUSINESS CYCLES AND STABILIZATION CW3301 Fundamentals of Economics Question Bank
Monetary and Fiscal Policy – Central Bank and the Government; the Classical Paradigm – Price and
Wage Rigidities – Voluntary and Involuntary Unemployment.
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| Notes | Click Here |
| Important Questions | Click Here |
| Previous Year Question Paper | Click Here |
| Question Bank | Click Here |
TEXT BOOKS CW3301 Fundamentals of Economics Notes
1. Paul Anthony Samuelson, William D. Nordhaus, Economics, Nineteenth Edition, McGraw-Hill
Education, 2010.
2. N. Gregory Mankiw, Principles of Macroeconomics, Seventh Edition, Cengage Learning,
2018.
3. Pindyck, Robert S and Daniel L. Rubinfeld , Micro Economics, Eighth Edition, 2013.
REFERENCES CW3301 Fundamentals of Economics Important Questions
1. Dornbusch, Fischer and Startz, Macroeconomics, Tenth Edition, Tata Mcgraw Hill, 2012.
2. Hal R, Varia, Intermediate Microeconomics: A Modern Approach, Eighth Edition Affiliated
East-West Press, 2006
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