Smith`s three herbal legal guidelines of economics:

• Law of self-interest – humans paint for their good.

• Law of opposition – opposition forces humans to make a higher product for a decreased rate. 

• Law of delivery and call for – sufficient items might be produced at the bottom rate to satisfy the call for in a marketplace economy

Economics is split into categories: microeconomics and macroeconomics. Microeconomics looks at people and commercial enterprise selections, the same time as macroeconomics looks at the selections of nations and governments.

Economics is studied in primary strands: Microeconomics takes a look at ways man or woman parties (people, groups, and businesses) use their wealth. Macroeconomics seems like a whole economy. The unemployment, inflation, and demanding financial situations of cities, countries, and continents.

Treat NCERT like a bible and always read between the lines and try to understand the logic behind every concept. Never mug up the answers because then retention of concepts will be very difficult. Learn to analyse graphs and tables. Write answers in points and include examples to score better marks in exams.

Focus on NCERT and make sure boxes are covered. Try to understand the logic behind every concept this will help in attempting analytical questions and indirect questions. Learn to analyse graphs and tables. Reasons must be mentioned while analysing graphs and Tables.

For M.Sc. Economics students pay Rs. 8000 per semester. The students in need would be eligible for a limited number of tuition waivers. All students will be offered hostel facilities, for which they must pay a monthly hostel fee of Rs. 200 along with actual water and electricity costs.