Kerala Plus Two Economics (DHSE) study plan

Distinguish cardinal utility (marginal utility, law of diminishing MU) from ordinal utility (indifference curves, MRS) and compute total utility, MU and equilibrium where MU per rupee equalises across goods

Derive and interpret the budget line and indifference curve map, and state consumer equilibrium as tangency of budget line and IC with the second-order condition

Explain the law of demand, movement along versus shift of the demand curve, and list determinants of individual and market demand

Solve numerical problems on elasticity of demand using percentage, point and expenditure methods and classify goods as elastic or inelastic

State the central problems of an economy (what, how, for whom) and compare market, planned and mixed economies as answers to them

Distinguish short-run and long-run production functions and compute total, average and marginal product; state the law of variable proportions and identify the three stages

Explain isoquants and returns to scale and identify the causes of increasing, constant and decreasing returns

Derive and classify short-run cost curves (TFC, TVC, TC, AFC, AVC, ATC, MC) and explain why MC cuts AVC and ATC at their minimum points

State the conditions for a perfectly competitive firm's short-run equilibrium (MR = MC, MC rising) and derive the firm's short-run supply curve from the MC curve above AVC

Show how entry and exit drive long-run equilibrium to P = minimum ATC and explain the shut-down point versus break-even point

Compute total, average and marginal revenue for a price-taking firm and for a firm facing a downward-sloping demand curve, and relate MR to price elasticity

Explain why a monopoly has no supply curve, compute profit-maximising output and price, and describe deadweight loss compared with perfect competition

Compare monopolistic competition (product differentiation, excess capacity in long-run equilibrium) with perfect competition and monopoly

Analyse price ceilings, price floors and administered prices using demand-supply diagrams, including shortages, surpluses and rationing

Explain market equilibrium shifts caused by simultaneous changes in demand and supply and identify when price or quantity becomes indeterminate

Define GDP, GNP, NDP and NNP at market price and factor cost, and convert between them using depreciation and net factor income from abroad

Classify expenditure into consumption, investment, government spending and net exports and compute national income by the expenditure and income methods

Distinguish real from nominal GDP and compute the GDP deflator

Explain the functions of money and the meaning of money supply aggregates M1, M2, M3 and M4

Explain credit creation by commercial banks using the money multiplier and describe the central bank's instruments (CRR, repo rate, open market operations, margin requirements)

Derive the consumption function and saving function and compute the marginal propensity to consume and to save

Determine equilibrium income using the aggregate demand-aggregate supply approach and the saving-investment approach, and compute the investment multiplier

Explain the paradox of thrift and the effect of a change in autonomous spending on equilibrium output

Distinguish revenue and capital receipts and expenditure, and compute revenue deficit, fiscal deficit and primary deficit

Classify budget deficits as cyclical or structural and evaluate the use of fiscal policy to close deflationary and inflationary gaps

Record transactions in the balance of payments (current account, capital account, errors and omissions) and classify items as credit or debit

Distinguish fixed, flexible and managed floating exchange rate systems and explain appreciation, depreciation, devaluation and revaluation

Explain how a change in the exchange rate affects exports, imports and the trade balance, including the J-curve idea

Compare India, Kerala and neighbouring countries (China, Pakistan, Bangladesh, Sri Lanka, Nepal) on per-capita income, human development indicators and sectoral structure

Outline the goals and achievements of India's five-year plans and the main features of the 1991 economic reforms (liberalisation, privatisation, globalisation)

Re-attempt every previously logged error from weeks 1 to 6 and mark each as resolved or still weak

Write full, structured answers to two 4-mark and two 6-mark questions from the heaviest domains under timed conditions

Redraw from memory the key diagrams: consumer equilibrium, cost curves, monopoly equilibrium, price ceiling, and the Keynesian cross

Recite definitions and formulas for elasticity, multiplier, deficits and national income aggregates without notes

Identify your two weakest domains and list the specific sub-topics needing revision in week 8

Re-teach your two weakest sub-topics from the error log by writing a short explanation and a worked example for each without looking at notes

Complete two timed half-papers mixing numerical and theory questions across all 11 domains

Practise diagram labelling accuracy and unit and formula precision on 15 rapid-fire numerical questions

Memorise the data points most likely to be asked on India, Kerala and neighbours (HDI ranking, sectoral contribution, reform years) and the standard definitions for each macro aggregate

Finalise a one-page revision sheet covering formulas, key definitions and diagram checklist for use on the day before the exam