Subject(s): Money and banking : nature of barter and monetary economy, Functions and significance of money, Monetary standards, Metallic standard, Monometallism, Bimetallism, paper standard, Gresham's law, Gold standard, Domestic and international gold standards, Money supply, RBI, Demand for money, Idle cash balance, Liquidity trap, Friedman's demand function, Money illusion, Value of money and its measurements, Price index numbers, Quantity theory of money , Keynes theory of money and price, Income theory of money, Income and expenditure approach -- Analytic of inflation and deflation, Financial markets, Theories of interest, Commercial banking, bank's balance sheet and portfolio management, leaf-canon criticism , Non-bank financial intermediaries -- Central bank and instrument of credit : bank rate policy, Open market operations, cash reserve ratio, Selective credit control, Monetary policy, banking in India, Development banks and other term financing institutions in India, IFCI -- Keyne's theory and underdeveloped countries, Trade cycle and measures of economic stabilisation -- International trade: theory, policy and finance -- Nature of international trade, Theory of comparative advantage, Ricardo's doctrine, Modern theory of international trade, Heckscher-Ohlin Theorem, Factor price equalisation theorem, Fact-endowment theory -- Gains from trade and terms of trade, Mechanism of international payments (foreign exchange ),Equilibrium rate of exchange, Mint parity theory, Purchasing power parity theory, Balance of payment theory, Flexible exchange rate , Balance of payments, Trade policy- Free trade vs protection -- Protective trade devices- Tariffs and quotas, Exchange control,IMF and the problem of international liquidity, International financial institutions, Euro-Dollar market, European economic community (EEC), General agreement on tariffs and trade, United nations (UN) conference on trade and development GATT, UNCTAD -- Principles of public finance : nature and norms of modern public finance, Public revenue, Canons of taxation and principles of equity,Characteristics of a good tax system and the Indian tax structure, Types of taxation, Ad-Valorem taxes, Incidence of taxation, Effects of taxation, Public expenditure, Public debt, Fiscal policy, Deficit financing, Mobilisation of resource for development, Federal finance, Supply-side economics, Aspects of the black money in India , Long term fiscal policy of the government of India, Cost benefit analysis