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Economics is a branch of the social sciences that focuses on analysing how different societies efficiently use limited resources to meet unlimited necessities. It entails an assessment of the flow of goods and services, including production, distribution, and consumption. The first unit allows for the introduction of basic economic ideas, concepts, principles, and theories.
One of the crucial elements of economic analysis and research is data collection, organisation, and presentation. Data collection techniques: This unit covers the various methods of data collection, such as surveys, sampling, and secondary data. It also learns ways of effectively categorising and presenting the data.
Economists major in the use of statistics because this enables them to analyse data and draw conclusions. This unit outlines fundamental statistical methods in the context of economics and analyses measures of central tendency, dispersion, correlation, and regression. It also stresses the analysis of statistical outcomes.
Over the years, development projects have been considered vital in enhancing economic growth and thus the quality of life around the world. This unit explains the concept of development in detail and also elucidates various forms of development, such as infrastructure development, poverty eradication, and other sustainable forms of development.
India, in particular, as a growing economy, provides significant information with reference to economic development. This unit explores the growth and history of the Indian the Indian economy and the facilitating factors for the same. It includes areas like economic outlook, industrial structure, and population statistics.