CHSE Odisha Elective Economics study plan

Define scarcity, opportunity cost, and the central problems of an economy, and apply them to three everyday Odisha-relevant examples such as choosing between paddy and sugarcane cropping

Distinguish microeconomics from macroeconomics and positive from normative statements by classifying 15 given statements correctly

State and explain the law of diminishing marginal utility and the law of equi-marginal utility, and solve 8 numerical problems on consumer equilibrium with a single and with multiple goods

Construct indifference curves from a given utility schedule and explain why indifference curves are convex to the origin and never intersect

Derive a demand curve from a price-consumption curve and label the income and substitution effects qualitatively

Explain the determinants of individual and market demand and shift the demand curve correctly for 10 given change scenarios

Compute price, income, and cross-price elasticity of demand from given data using both the percentage and the total-outlay methods, and interpret each result

State the law of variable proportions, tabulate total, average, and marginal product, and identify the three stages on a single table

Distinguish returns to scale from returns to a factor and give one real-world example of each

Draw and explain the relationships among TP, AP, and MP curves and between MC and AC

Classify short-run costs into fixed and variable and compute TC, AC, AVC, AFC, and MC from a given output-cost table

Explain why the short-run MC curve cuts AC at its minimum and why the long-run AC curve is envelope-shaped

Derive the supply curve of a firm under perfect competition from its marginal cost curve and state the shut-down condition

Compare the four market forms on number of sellers, product differentiation, entry barriers, and price control in a comparison table

Solve equilibrium price and quantity problems under perfect competition and monopoly, including a simple price-discrimination case

Define GDP at market price, GNP, NNP, NDP, and national income at factor cost, and convert one into another using the standard identities

Distinguish nominal from real GDP and compute the GDP deflator from given data

Classify 20 given items as factor income or transfer, and as included or excluded from national income

Explain the functions of money and the components of money supply (M1 to M4) as used in India

Describe the credit creation process of commercial banks and compute the money multiplier from a given reserve ratio

State the instruments of monetary policy of the RBI and explain how an open market sale affects liquidity

Explain the consumption function, saving function, and the investment multiplier, and compute equilibrium income using the Y = C + I approach

Solve for equilibrium income using the saving-investment approach and verify that both approaches give the same answer

Explain the concept of the deflationary and inflationary gap and show each on a hand-drawn diagram

Distinguish demand-pull from cost-push inflation and list two policy responses to each

Explain how monetary and fiscal policy shift aggregate demand in the simple Keynesian model

Classify government receipts and expenditure into revenue and capital accounts and compute revenue deficit, fiscal deficit, and primary deficit from given figures

Explain the objectives of government budget and distinguish deficit financing from public debt

Define the components of the balance of payments and classify 15 given transactions into current and capital account

Explain the determination of the exchange rate under fixed and flexible regimes and distinguish depreciation from devaluation

Explain managed floating and the role of the RBI in the foreign exchange market

Outline the main features of the Indian economy at independence and the objectives of the five-year plans

Compare the strategies of import substitution and export promotion and cite one policy example of each in India

Describe the Green Revolution, its achievements, and its regional imbalances

Explain the 1991 economic reforms across liberalisation, privatisation, and globalisation with one concrete measure for each

Summarise the current issues of poverty, unemployment, and human capital formation in India with one indicator for each

Revise all ten domains using your own summary sheets and list the five weakest topics for final review

Complete two full-length timed mock papers and score them domain by domain

Re-solve every numerical you got wrong in weeks 1 to 7 and confirm the correct method

Practise three long-answer and five short-answer questions under exam timing for the Indian economy domain

Memorise key definitions, formulae, and identities in a single condensed revision card set