Economics (For Law Students)

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Description
This is intended to be a text book on Economics for law students, and is designed for use in an introductory one-semester course. Therefore, it is not my intention to take the students through math- ematical equations, graphs etc. so common in most of the text books on Economics. Law is a social creation; so are other social sciences like Economics, Sociology, and Political Science. All these disciplines interact with each other. In this continuing interaction two most important social functions which Law performs are:
(a) Providing facilities for private arrangements berween in- dividuals. Bulk of private law consists of contracts, partner- ships, sale of goods, marriage, succession, employment, tort etc., and
(b) Provision of services and goods essential for development. Thus Public Law, inter alia, relates to Economy, Education, Health etc. In all these fields, Economics has contributed a great deal to the development of Law. Law, in turn, has also influenced Economics "by the provision of a legal framework within which the factors and interests of economics have had to work." Law has also helped the socio-economic process in India through the introduction of various legislations in areas like agriculture, labour, social welfare, fiscal and monetary matters. Thus, there is an active interaction bet- ween Law and Economics. However, the scope and meaning of certain vital concepts such as land, property, labour, busi- ness etc., vary in Economics and Law, often resulting in confusion. The purpose of this text book therefore, is to clarify the economic concepts and theories with reference to legal concepts and focus their inter-relationship and interac- tion.
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Contents
Invitation to the Study of Economics
I.    Introduction:
1.    Economics and Law     
2.    Basics of Economics    
II.   Micro Economic Theory
3.    Basic Economic concepts—Demand and Supply
4.    Market Structures   
5.    Price Policy     
6.    Theory of Distribution     
7.    Labour and Wages   
8.    Rent, Interest and Profits     
9.    Capital   
10.  Human Capital—Economics of Education
III. Macro Economic Policies
11.  Macro Economics—Approach and Policy Issues
12.  Economic Role of the State      
13.  Monetary Policy, Money and Banking    
14.  Inflation     
15.  Public Finance
IV.  International Economics
16.  International Economics—Foreign Trade  
17.  International Balance of Payments    
18.  International Financial Institutions   
V.   Applied Economics
19.  Economic Growth and development      
20.  National Income in India      
21.  Planning in India—Basic features      
22.  Inequalities of Income, Wealth and Unemployment
23.  Agrarian Reforms
24.  Population – Problems and solutions
25.  Costs of Economic Growth – Social Imbalances
26.  Economics systems
27.  Final Chapter
Suggested Questions
Selected Biliography
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Author Details
K.C. Gopalakrishnan
Ramdas