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DEPARTMENT 12

National Income Accounting

How an economy's output and income are measured. Covers CBSE Class 12 national income in full.
Entry Level: L1CBSE 12CUETUPSC GS III

Syllabus Modules & Canonical Topics

5 Modules comprising 25 Canonical Topics.

12.1

Macroeconomic Basics

4 Canonical Topics
12.1.1
Stocks and flows
L1
12.1.2
Final and intermediate goods
L1
12.1.3
The circular flow in two, three and four sectors
L1
12.1.4
Leakages and injections
L1
12.2

National Income Concepts

6 Canonical Topics
12.2.1
GDP, GNP, NDP and NNP
L1
12.2.2
Market prices, factor cost and basic prices
L1
12.2.3
Gross value added
L1
12.2.4
National, personal and disposable income
L1
12.2.5
Nominal and real GDP; the GDP deflator
L1
12.2.6
Per capita income
L1
12.3

Methods of Measurement

5 Canonical Topics
12.3.1
The value-added method
L1
12.3.2
The income method
L1
12.3.3
The expenditure method
L1
12.3.4
Double counting and other errors
L1
12.3.5
Measuring the informal and non-market economy
L2
12.4

GDP and Welfare

4 Canonical Topics
12.4.1
Why GDP is not welfare
L1
12.4.2
Purchasing power parity comparisons
L2
12.4.3
Beyond GDP: HDI and wellbeing measures
L2
12.4.4
Green GDP and natural capital accounting
L3
12.5

The System of National Accounts

5 Canonical Topics
12.5.1
The SNA framework
L3
12.5.2
Institutional sectors and their accounts
L3
12.5.3
Base-year revisions and methodology changes
L3
12.5.4
Flow of funds and sectoral balances
L3
12.5.5
Supply-use and input-output tables
L4
Back to School C: Macroeconomics, Money and Finance