RBSE SS Economics study plan

Define scarcity, opportunity cost, marginal analysis, and the central problems of an economy, and apply each to a real household or firm decision

Derive a demand schedule and curve from given price-quantity data and state the law of demand in your own words

Distinguish movement along a demand curve from a shift, and list at least five shift determinants with an example each

Compute price elasticity of demand using both the percentage and total-expenditure methods for three data sets

Explain the relationship between total expenditure and elasticity and classify goods as elastic, inelastic, or unitary from data

Explain indifference curves, the budget line, and the conditions for consumer equilibrium using the marginal rate of substitution

Derive an individual demand curve from indifference-curve analysis in words and a sketch you draw yourself

Distinguish ordinal from cardinal utility and explain the equimarginal utility rule for a single good and for multiple goods

Solve numericals on consumer equilibrium under the utility approach with given marginal utilities and prices

Identify and correct common errors in elasticity and equilibrium numericals from your own week-1 mistakes

Define production function, returns to a factor, and returns to scale, and give a numerical example of each

Explain the law of variable proportions and identify the three stages with the reason each stage begins and ends

Derive total, average, and marginal cost curves from a cost table and state the relationship between them

Distinguish fixed from variable costs and compute each from a given cost schedule

State the conditions for producer equilibrium using marginal revenue and marginal cost and interpret the shut-down point

List the features of perfect competition, monopoly, monopolistic competition, and oligopoly and contrast them in a comparison table

Explain how price and output are determined under perfect competition in the short run and long run

Explain price discrimination and the conditions under which a monopolist can practise it

Describe the equilibrium of a firm under monopolistic competition and the role of product differentiation

Interpret simple supply-and-demand diagrams to predict the effect of a shift in demand or supply on equilibrium price and quantity

Define GDP at market price, GNP, NDP, NNP, and national income, and convert one aggregate into another using given data

Distinguish domestic territory from normal resident and classify 10 given items as included or excluded from national income

Compute national income using the value-added, income, and expenditure methods from a single data set

Explain the consumption function, saving function, and the investment multiplier, and compute the multiplier from a given marginal propensity to consume

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

Define money and its functions, and distinguish the money-supply measures M1, M2, M3, and M4

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

State the functions of a central bank and explain at least four quantitative and qualitative instruments of monetary policy

Define the components of a government budget: revenue and capital receipts, revenue and capital expenditure, and fiscal deficit

Compute revenue deficit, fiscal deficit, and primary deficit from a given budget data set and interpret what each signals

Explain the structure of the balance of payments: current account, capital account, and errors and omissions

Classify 10 given transactions as current-account or capital-account items and determine whether each is a credit or debit

Distinguish fixed from flexible exchange rates and explain managed floating and depreciation versus devaluation

Trace India's development experience from 1950 to 1990: planning, import substitution, licensing, and the public sector

Explain the 1991 reforms in the areas of liberalisation, privatisation, and globalisation, and evaluate their outcomes

Revise all ten domains using your own summary sheets and formula lists, spending proportionally more time on the four heaviest domains

Complete two full-length timed mock papers under exam conditions and score each

Analyse every wrong answer from both mocks and write the correct reasoning beside it

Re-drill the numerical types you missed most often until you can solve them without notes

Recite the key definitions, formulas, and diagrams from memory in a final rapid self-check