BSEB Intermediate Economics study plan

Define utility, total utility and marginal utility, and state the law of diminishing marginal utility with a worked numeric schedule.

Derive a demand curve from a utility schedule and from an indifference-curve map, and explain why the curve slopes downward.

Distinguish movement along a demand curve from a shift of the demand curve, listing at least five shift factors.

Compute price elasticity of demand using both the percentage and total-outlay methods for three numeric examples.

Classify goods as normal, inferior, substitute or complementary from given income and cross-price data.

State the law of variable proportions and identify the three stages on a hand-drawn total, average and marginal product table.

Compute total, average, marginal, fixed and variable cost from a given output-cost table without error.

Explain the relationship between marginal cost and average cost, and between AC and AVC, in words and with a sketch.

Distinguish individual supply from market supply and list the determinants that shift the supply curve.

Calculate price elasticity of supply and classify the five degrees of elasticity with one example each.

Compare perfect competition, monopoly, monopolistic competition and oligopoly on number of sellers, product, entry barrier and price control.

Explain how equilibrium price is reached under perfect competition using a demand-supply schedule and the effects of a price ceiling and price floor.

Describe how a firm under perfect competition earns supernormal, normal and subnormal profit in the short run and only normal profit in the long run.

Explain price discrimination and the conditions required for it to succeed.

Interpret a simple table of market demand and market supply to find equilibrium price and quantity and predict the effect of a demand shift.

Define GDP at market price, GNP, NDP, NNP, and distinguish them from one another using a numeric example.

Distinguish domestic territory from normal resident, and classify ten given items as included or excluded from national income.

Compute national income using the product, income and expenditure methods from a single set of data and verify that all three agree.

Explain the treatment of intermediate goods, transfer payments, capital gains and second-hand sales in national income accounting.

Distinguish nominal from real GDP and compute the GDP deflator.

State the functions of money and define the four measures of money supply (M1 to M4), naming the components of each.

Explain the credit creation process of commercial banks and compute the deposit multiplier from a given reserve ratio.

List the quantitative and qualitative instruments of central bank control and explain how each affects credit.

Reproduce and explain the national income circular flow for a two-sector and a four-sector economy.

Solve five numericals combining money multiplier and national income aggregates.

Define aggregate demand, aggregate supply, consumption function, saving function and the marginal propensity to consume and save.

Compute the equilibrium level of income using the AD-AS and saving-investment approaches for two numeric economies.

Calculate the investment multiplier and the effect of a change in autonomous investment on equilibrium income.

Explain the concept of deficient demand and excess demand and one fiscal measure to correct each.

Distinguish ex-ante from ex-post saving and investment, and state the paradox of thrift.

Define revenue receipts, capital receipts, revenue expenditure and capital expenditure and classify ten budget items correctly.

Distinguish revenue deficit, fiscal deficit and primary deficit, and compute all three from given figures.

Explain the objectives of government budget and the meaning of fiscal policy, crowding out and public debt.

State the components of the current and capital account of the balance of payments and classify eight transactions.

Explain determination of the exchange rate under fixed and flexible regimes, and define appreciation, depreciation, devaluation and revaluation.

Revise all nine domains using the formula sheets and glossary built in earlier weeks, spending most time on domains 2, 3 and 5.

Attempt two full-length timed papers under exam conditions and record the score for each domain.

Re-solve every question marked wrong and write the correct reasoning in a short error log.

Recite definitions of the 40 highest-frequency terms from memory without notes.