PAPER 3 – ECONOMICS AND LAW -III 100 MARKS
Unit 1 Introduction to Macro Economics :
a. Definition, Meaning, Nature, Scope, Importance and
Limitations of Macro Economics.
Unit 2 Law and Economics :
a. Why Students Need to Learn Law and Economics.
b. Contradictories In Economics and Law.
Unit 3 Business Cycles and Inflation - Deflation :
a. Nature and Characteristics of Business Cycles.
b. Phases If Business Cycles.
c. Inflation – Meaning, Causes, Effects and Controls of Inflation.
d. Deflation – Meaning, Effects.
e. Role of Government In Controlling Inflation and Business Cycles.
Unit 4 New Economic Policy
a. Privatisation – Meaning, Need, Effects.
b. Liberalization – Meaning, Need, Effects.
c. Globalization – Meaning, Features, Relevance to India.
Unit 5 Foreign Exchange
a. Functions, Exchange Markets, Foreign Exchange Rate
Policies In India.
b. Balance of Trade and Balance of Payment.
c. Role of Law In Foreign Trade.
Unit 6 Relevance of Law and Their Application In Economics.
a. Constitution and Economics
b. Contract Laws
c. Consumer Protection Act
d. Minimum Wage Act
e. Mrtp
f. Tax Avoidance and Evasion – Role of Administration.
SUGGESTED READINGS:
1. Indian Economics For Law Students – S.R. Myneni Allahabad Law
Agency
2. Legal Economics (International Dimensions of Economics and Law)
K.C. Gopalkrishnan, Eastern Book Company.
3. Indian Economy – S.K. Mishra, Himalaya Publication House.
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Nature and Characteristics of Business Cycles.
Phases If Business Cycles.
Inflation – Meaning, Causes, Effects and Controls of Inflation.
Deflation – Meaning, Effects.
Role of Government In Controlling Inflation and Business Cycles.
Privatisation – Meaning, Need, Effects.
Liberalization – Meaning, Need, Effects.
Globalization – Meaning, Features, Relevance to India.
Functions, Exchange Markets, Foreign Exchange Rate Policies In India.
Balance of Trade and Balance of Payment.
Role of Law In Foreign Trade.
Constitution and Economics
Contract Laws
Consumer Protection Act
Minimum Wage Act
Mrtp Act
Contradictories In Economics and Law.
Tax Avoidance and Evasion – Role of Administration.