Foundation Courses

ECONOMICS

ECONOMICS

Keeping in view that people from all backgrounds appear for UPSC. We have developed Material that will build your foundation from scratch. No Matter whether you remember your NCERT´s or not, we have took out the best from them and added on the expertise from Standard Books and developed the best yet Foundation Course which is updated every Quarter to incorporate Current Affairs. All this free of cost for reading and at minimum cost for downloading.

Chapter 1:Introduction On Economics

An economy (from Greek oikos – "household" and nomos – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents. Understood in its broadest sense, ´The economy is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. ..

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Chapter 2: Branches Of Economics

Socialist economic systems (all of which feature social ownership of the means of production) can be subdivided by their coordinating mechanism (planning and markets) into planned socialist and market socialist systems. Additionally, socialism can be divided based on their property structures between those that are based on public ownership, worker or consumer cooperatives and common ownership...

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Chapter 3: Economic Growth

Economic growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. It can be measured in nominal or real terms, the latter of which is adjusted for inflation. ..

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Chapter 4: Causes of economic growth

Economic growth means an increase in real GDP. Economic growth means there is an increase in national output and national income.Economic growth is caused by two main factors:..

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Chapter 5: Trends In National Income

National Income estimates are published annually by theCentral Statistical Organisation of the Government of India(CSO) in its publication ‘National Accounts Statistics’. The current series of national income estimates records India’s national income since 1950-51 onwards...

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Chapter 6: Indias New Gdp Series 2016

GDP growth over the next five years will remain consumption driven, with investment increasing only gradually. The center is expected to carry out small, sector-specific reforms, leaving the critical measures, like easing land acquisition, to the states...

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Chapter 7:Human Development Index

The Human Development Index is an indicator that focuses specifically on people and their capabilities to assess the development and welfare of a country. In particular, it measures achievements in three critical dimensions: health and life expectancy, education, and standard of living...

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Chapter 8 Structure And Composition Of Indian Economy

Human activities which generate income are known as economic activities. Economic activities are broadly grouped into primary, secondary, tertiary activities. Higher services under tertiary activities are again classified into quaternary and quinary activities...

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Chapter 9: Sectors Of Indian Economy And Its Components

Primary Sector refers to that sector which is directly dependent on the environment for manufacturing and production. The main examples of the primary sector are agriculture, fishing, mining, farming, etc...

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Chapter 10:Business Cycle

A business cycle is a cycle of fluctuations in the Gross Domestic Product (GDP) around its long-term natural growth rate. It explains the expansion and contraction in economic activity that an economy experiences over time. A business cycle is completed when it goes through a single boom and a single contraction in sequence. ..

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Chapter 11: Planned Economic Development And Niti Aayog

A planned economy is a type of economic system where investment and the allocation of capital goods take place according to economy-wide economic and production plans. A planned economy may use centralized, decentralized or participatory forms of economic planning...

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Chapter 12: India As A Mixed Economy

Indian economy is called a mixed economt because it is neither completely socialist nor capitalist . In india private & public sector both operate in the market. Other examples are USA which has no public sector and Cuba which has no private sector...

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Chapter 13: Budget

The Ninth Five-Year Plan had a total public sector plan outlay of ₹859,200 crore (US$120 billion). The Ninth Five-Year Plan also saw a hike of 48% in terms of plan expenditure and 33% in terms of the plan outlay in comparison to that of the Eighth Five-Year Plan. In the total outlay, the share of the center was approximately 57% while it was 43% for the states and the union territories...

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Chapter 14: Economic Reforms

Indian economy is one of the fastest growing economies in the world. But it was a completely different scenario in 1991. The year when new policies and reforms were introduced. The year which serves as a backbone to many of the current policies and decisions. ..

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Chapter 15:Fiscal System

Fiscal policy, measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals...

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Chapter 16: Monetary And Credit Policy

Monetary policy consists of the process of drafting, announcing, and implementing the plan of actions taken by the central bank, currency board, or other competent monetary authority of a country that controls the quantity of money in an economy and the channels by which new money is supplied. Monetary policy consists of management of money supply and interest rates, aimed at achieving macroeconomic objectives such as controlling inflation, consumption, growth, and liquidity. ..

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Chapter 17:Inflation:Concepts,Facts And Policy

Inflation can be defined as a “sustained rise in the general or overall level of prices of goods and services.” Thus, it can be understood that as inflation increases, every rupee you have buys a smaller percentage of goods or services i.e. value of money reduces or your purchasing power reduces. It is measured as an annual percentage increase...

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Chapter 18: Taxation

Taxation is a term for when a taxing authority, usually a government, levies or imposes a tax. The term "taxation" applies to all types of involuntary levies, from income to capital gains to estate taxes. Though taxation can be a noun or verb, it is usually referred to as an act; the resulting revenue is usually called "taxes."..

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Chapter 19: Banking Structure In India

A bank is a financial institution that accepts deposits from the public and creates credit.[1] Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. A bank is a financial institution that accepts deposits from the public and creates credit.[1] Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. ..

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Chapter 19: Money Market And Capital Market Instruments And Dynamics

Financial market is the market that facilitates transfer of funds between investors/ lenders and borrowers/ users. Financial market may be defined as ‘a transmission mechanism between investors (or lenders) and the borrowers (or users) through which transfer of funds is facilitated’. It consists of individual investors, financial institutions and other intermediaries who are linked by a formal trading rules and communication network for trading the various financial assets and credit instruments. ..

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Chapter 20: Fundamental Economics Stock Market

The stock market plays a pivotal role in the growth of the industry and commerce of the country that eventually affects the economy of the country. The stock market plays a pivotal role in the growth of the industry and commerce of the country that eventually affects the economy of the country.  ..

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Chapter 21: Balance of Payment

Balance of Payment (BOP) is a statement which records all the monetary transactions made between residents of a country and the rest of the world during any given period. This statement includes all the transactions made by/to individuals, corporates and the government and helps in monitoring the flow of funds to develop the economy. Balance of Payment (BOP) is a statement which records all the monetary transactions made between residents of a country and the rest of the world during any given period. This statement includes all the transactions made by/to individuals, corporates and the government and helps in monitoring the flow of funds to develop the economy.  ..

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Chapter 22 :World Trade Organisation

The General Agreement on Tariffs and Trade (GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATT’s main purpose was to reduce barriers to international trade...

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Chapter 23: Bretton Woods Institution

International Monetary Fund (IMF), United Nations (UN) specialized agency, founded at the Bretton Woods Conference in 1944 to secure international monetary cooperation, to stabilize currency exchange rates, and to expand international liquidity...

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Chapter 24: World Bank

The World Bank (WB) was originally created as the International Bank for Reconstruction and Development (IBRD) in 1944 along with its twin, the IMF. Together they came to be known as the ‘Bretton Woods’ twin sisters’. When it was set up it was decided that this international bank would assist in the economic reconstruction of the World War II-damaged European economies. ..

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Chapter 25: Poverty

There is no single definition of Poverty. It is multidimensional and has many faces which include:..

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