The Activity of seeking wealth is as old as civilisation. Human beings either as individuals or as groups or as large kingdoms and empires have always been engaged in acquiring and increasing the material wealth. In fact, all human decisions and activities can be ultimately linked with acquisition of material welfare. However, a disciplined study of the wealth producing activities was commenced about 235 years back when Adam smith, the father of Economics, published "The Nature and Causes of Wealth of Nations". Economics, as a discipline, has come a long way since then and its constitutes the most important subject to analyse activities related to wealth creation and distribution. The dimensions of the subject of economics are truly vast and encompass all aspects of our lives. Undoubtedly, Economics has to be known as the mother of all social sciences. A study of economics gives a perspective and a macro attitude while analysing financial activities. it provides an insight into various economic problems faced by a country and also provides solutions to solve these problems. since it deals with problems and questions that affect almost all kinds of individuals in their capacities as consumers and producers, an adequate knowledge of the science of Economics is a prerequisite for understanding the economy and its various components. Economics, therefore, has always been a part of the curricula of Chartered Accountancy Course in India.
In the new course it is being taught and tested at the CPT level. The syllabus is systematically planned to give students an exposure to Micro economics as well as Indian economy. In micro economics, there are four chapters namely Introduction to Micro Economics, Theory of Demand and Supply, Theory of Production and Cost and Price Determination in Different markets. Similarly, in Indian Economy there are four chapters, namely, Indian economy- a profile, select aspects of Indian economy, Economic reforms in India and Money and Banking. Care has been taken to explain the concept in a lucid and easy language with the help of diagrams and illustrations. In chapters relating to Indian economy, efforts have been made to provide the latest data. At the end of each chapter, lots of multiple choice questions have been given to help students test their understanding of their subject and their skills in applying economic theory to real world situations. It is hoped that these inputs will further enhance the utility of the book. I appreciate the earnest and sincere efforts taken by Ms. Prem Bhutani, Deputy Director, BOS, in bringing out these publications, incorporating many student-friendly features, well in time.
Thank you
In the new course it is being taught and tested at the CPT level. The syllabus is systematically planned to give students an exposure to Micro economics as well as Indian economy. In micro economics, there are four chapters namely Introduction to Micro Economics, Theory of Demand and Supply, Theory of Production and Cost and Price Determination in Different markets. Similarly, in Indian Economy there are four chapters, namely, Indian economy- a profile, select aspects of Indian economy, Economic reforms in India and Money and Banking. Care has been taken to explain the concept in a lucid and easy language with the help of diagrams and illustrations. In chapters relating to Indian economy, efforts have been made to provide the latest data. At the end of each chapter, lots of multiple choice questions have been given to help students test their understanding of their subject and their skills in applying economic theory to real world situations. It is hoped that these inputs will further enhance the utility of the book. I appreciate the earnest and sincere efforts taken by Ms. Prem Bhutani, Deputy Director, BOS, in bringing out these publications, incorporating many student-friendly features, well in time.
Thank you
