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Huminity and Social Science Lab Manual

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Huminity and Social Science Lab Manual

Huminity and Social Science Lab Manual


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  • 1. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 1 LAB MANUAL Subject Code: 3EE11A HUMANITIES & SOCIAL SCIENCES LAB (II B. Tech III Semester EE) Established in year 2000 DEPARTMENT OF ELECTRICAL ENGINEERING STANI MEMORIAL COLLEGE OF ENGINEERING & TECHNOLOGY, PHAGI, JAIPUR – 303005 Website: www.smcet.in
  • 2. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 2 SYLLABUS Unit 1 India: Brief history of Indian Constitution, farming features, fundamental rights, duties, directive principles of state. History of Indian National Movement, socio economic growth after independence. Unit 2 Society: Social groups- concept and types, socialization- concept and theory, social control: concept, social problem in contemporary India, status and role. Unit 3 The Fundamentals of Economics: meaning, definition and importance of economics, Logic of choice, central economic problems, positive and normative approaches, economic system ssocialism and capitalism. Unit 4 Microeconomics: Law of demand supply, utility approach, indifference curves, elasticity of demand and supply and applications, consumer surplus, Law of returns to factors and returns to scale. Unit 5 Macroeconomics: concepts relating to National product–National income and its measurement, Simple Keynesian theory, simple multiplier, money and banking. Meaning, concept of international trade, determination of exchange rate, Balance of payments.
  • 3. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 3 EXPERIMENT NO. 1 Aim: - To study about brief history of Indian constitution. Apparatus Required: - Theory:- Fundamental Rights' is a charter of rights contained in the Constitution of India. It guarantees civil liberties such that all Indians can lead their lives in peace and harmony as citizens of India. These include individual rights common to most liberal democracies, such as equality before law, freedom of speech and expression, and peaceful assembly, freedom to practice religion, and the right to constitutional remedies for the protection of civil rights by means of writs such as habeas corpus. Violation of these rights result in punishments as prescribed in the Indian Penal Code, subject to discretion of the judiciary. The Fundamental Rights are defined as basic human freedoms which every Indian citizen has the right to enjoy for a proper and harmonious development of personality. These rights universally apply to all citizens, irrespective of race, place of birth, religion, caste, creed, color or gender. They are enforceable by the courts, subject to, the United States Bill of Rights and France's Declaration of the Rights of Man. certain restrictions. The Rights have their origins in many sources, including England's Bill of Rights. Customs Duties (Import Duty and Export Tax):- Customs Duty is a type of indirect tax levied on goods imported into India as well as on goods exported from India. Taxable event is import into or export from India. Import of goods means bringing into India of goods from a place outside India. India includes the territorial waters of India which extend upto 12 nautical miles into the sea to the coast of India. Export of goods means taking goods out of India to a place outside India. In India, the basic law for levy and collection of customs duty is Customs Act, 1962. It provides for levy and collection of duty on imports and exports, import/export procedures, prohibitions on importation and exportation of goods, penalties, offences, etc. The Constitutional provisions have given to Union the right to legislate and collect duties on imports and exports. The Central Board of Excise & Customs (CBEC) is the apex body for customs matters.
  • 4. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 4 Central Board of Excise and Customs (CBEC) is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the task of formulation of policy concerning levy and collection of customs duties, prevention of smuggling and evasion of duties and all administrative matters relating to customs formations. The Board discharges the various tasks assigned to it, with the help of its field organizations namely the Customs, Customs (preventive) and Central Excise zones, Commissionerate of Customs, Customs (preventive), Central Revenues Control Laboratory and Directorates. It also ensures that taxes on foreign and inland travel are administered as per law and the collection agencies deposit the taxes collected to the public exchequer promptly. Directive Principles Of State Policy In India:- An important feature of the constitution is the Directive Principles of State Policy. Although the Directive Principles are asserted to be "fundamental in the governance of the country," they are not legally enforceable. Instead, they are guidelines for creating a social order characterized by social, economic, and political justice, liberty, equality, and fraternity as enunciated in the constitution's preamble. Directive Principles Of State Policy In India:- An important feature of the constitution is the Directive Principles of State Policy. Although the Directive Principles are asserted to be "fundamental in the governance of the country," they are not legally enforceable. Instead, they are guidelines for creating a social order characterized by social, economic, and political justice, liberty, equality, and fraternity as enunciated in the constitution's preamble. The first organised militant movements were in Bengal, but they later took to the political stage in the form of a mainstream movement in the then newly formed Indian National Congress (INC), with prominent moderate leaders seeking only their basic right to appear for Indian Civil Service examinations, as well as more rights, economic in nature, for the people of the soil. The early part of the 20th century saw a more radical approach towards political independence proposed by leaders such as the Lal, Bal, Pal, Aurobindo Ghosh and V. O. Chidambaram Pillai. The economic development in India followed socialist-inspired policies for most of its independent history, including state-ownership of many sectors; extensive regulation and red tape known as "Licence Raj"; and isolation from the world economy. India's per capita income increased at only around 1% annualized rate in the three decades after Independence. Since the mid-1980s, India has slowly opened up its markets through economic liberalization. After more fundamental reforms since 1991 and their renewal in the 2000s, India has progressed towards a free market economy. In the late 2000s, India's growth reached 7.5%, which will double the average income in a decade. Analysts say that if India pushed more fundamental market reforms, it could sustain the rate and even reach the government's 2011 target of 10%. States have large responsibilities over their economies. Maharashtra has proved all time hit contributor to boost up the economic rise since independence. The annualized 1999–2008 growth rates for Tamil
  • 5. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 5 Nadu (9.8), Gujarat (9.6%), Haryana (9.1%), or Delhi (8.9%) were significantly higher than for Bihar (5.1%), Uttar Pradesh(4.4%), or Madhya Pradesh (6.5%).[2] India is the tenth- largest economy in the world and the third largest by purchasing power parity adjusted exchange rates (PPP). On per capita basis, it ranks 140th in the world or 129th by PPP. Circuit Diagram:- Precaution :- Procedure:- Observation Table:- Calculations:- Result:- We have successfully studied about Indian constitution. References:- 1. Smith, Adam (1776). The Wealth of Nations, Bk. II, ch. II, para. 94 and Bk. II, ch. IV, para. 2. Jump up ^ Smith, Adam (1776). The Wealth of Nations, Bk. V, ch. I, para. 180-85 and 239 and 240.
  • 6. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 6 Viva voice Question:- 1. Define Import Duty and Export Tax. 2. what is Indian constitution.
  • 7. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 7 EXPERIMENT NO. 2 Aim:- To study about brief history of Indian society. Apparatus Required:- Theory:- In the social sciences a social group has been defined as two or more humans who interact with one another, share similar characteristics and collectively have a sense of unity. Other theorists, however, are a wary of definitions which stress the importance of interdependence or objective similarity. Instead, for researchers in the social identity tradition "a group is defined in terms of those who identify themselves as members of the group". Regardless, social groups come in a myriad of sizes and varieties. For example, a society can be viewed as a large social group Socialization (or socialisation) is a term used by sociologists, social psychologists, anthropologists, political scientists and educationalists to refer to the lifelong process of inheriting and disseminating norms, customs and ideologies, providing an individual with the skills and habits necessary for participating within his or her own society. Socialization is thus ‘the means by which social and cultural continuity are attained’ Socialization describes a process which may lead to desirable, or 'moral', outcomes in the opinion of said society. Individual views on certain issues, such as race or economics, are influenced by the view of the society at large and become a "normal," and acceptable outlook or value to have within a society. Many socio-political theories postulate that socialization provides only a partial explanation for human beliefs and behaviors, maintaining that agents are not'blank slates' predetermined by their environment. Scientific research provides some evidence that people might be shaped by both social influences andgenes. Genetic studies have shown that a person's environment interacts with his or her genotype to influence behavioral outcomes. Social control refers generally to societal and political mechanisms or processes that regulate individual and group behaviour in an attempt to gainconformity and compliance to the rules of a given society, state, or social group. Sociologists identify two basic forms of social control: 1. Informal means of control - Internalisation of norms and values by a process known as socialization, which is defined as "the process by which an individual, born with behavioral
  • 8. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 8 potentialities of enormously wide range, is led to develop actual behavior which is confined to the narrower range of what is acceptable for him by the group standards." 2. Formal means of social control - External sanctions enforced by government to prevent the establishment of chaos or anomie in society. Some theorists, such as Émile Durkheim, refer to this form of control as regulation. While the concept of social control has been around since the formation of organized sociology, the meaning has been altered over time. Originally, the concept simply referred to society's ability to regulate itself. However, in the 1930s, the term took on its more modern meaning of an individual's conversion to conformity. Social control theory began to be studied as a separate field in the early 20th century. Informal:- The social values present in individuals are products of informal social control, exercised implicitly by a society through particular customs, norms, and mores. Individuals internalize the values of their society, whether conscious or not of the indoctrination. Traditional society relies mostly on informal social control embedded in its customary culture to socialize its members. Informal sanctions may include shame, ridicule, sarcasm, criticism, and disapproval, which can cause an individual to stray towards the social norms of the society. In extreme cases sanctions may include social discrimination and exclusion. Informal social control usually has more effect on individuals because the social values become internalized, thus becoming an aspect of the individual's personality. Informal sanctions check 'deviant' behavior. An example of a negative sanction comes from a scene in the Pink Floyd film 'The Wall,' whereby the young protagonist is ridiculed and verbally abused by a high school teacher for writing poetry in a mathematics class. Another example from the movie 'About a Boy', when a young boy hesitates to jump from a high springboard and is ridiculed for his fear. Though he eventually jumps, his behaviour is controlled by shame. Formal:- Historically, societies were able to easily expel individuals deemed undesirable from public space through vagrancy laws and other forms of banishment. In the 1960s and 1970s, however, these exclusion orders were denounced as unconstitutional and consequentially were rejected by the Supreme Court. The introduction of Broken Windows Theory in the 1980s generated a dramatic transformation in the concepts used in forming policies in order to circumvent the previous issue of unconstitutionality. According to the theory, the environment of a particular space signals its health
  • 9. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 9 to the public, including to potential vandals. By maintaining an organized environment, individuals are dissuaded from causing disarray in that particular location. However, environments filled with disorder, such as broken windows or graffiti, indicate an inability for the neighborhood to supervise itself, therefore leading to an increase in criminal activity. Instead of focusing on the built environment, policies substantiated by the Broken Windows Theory overwhelmingly emphasize undesirable human behavior as the environmental disorder prompting further crime. The civility laws, originating in the late 1980s and early 1990s, provide an example of the usage of this latter aspect of the Broken Windows Theory as legitimization for discriminating against individuals considered disorderly in order to increase the sense of security in urban spaces. These civility laws effectively criminalize activities considered undesirable, such as sitting or lying on sidewalks, sleeping in parks, urinating or drinking in public, and begging, in an attempt to force the individuals doing these and other activities to relocate to the margins of society Not surprisingly then, these restrictions disproportionally affect the homeless. Circuit Diagram:- . Precaution:- Procedure:- Observation Table:- Result:- We have successfully studied about Indian society.
  • 10. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 10 References:- 1. Blaug, Mark (2007). "The Social Sciences: Economics". The New Encyclopædia Britannica, v. 27, p. 343. 2. Jump up ^ Deardorff, Alan V., 2006. Glossary of International Economics, Division of labor. Viva voice Question:- 1. What is formal & informal Group? 2. Define Socialization?
  • 11. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 11 EXPERIMENT NO. 3 Aim:- The Fundamentals of Economics. Apparatus Required:- Theory:- Economics is the social science that studies the behavior of individuals, households, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice. There exists an economic problem, subject to study by economic science, when a decision (choice) is made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions. In other words, resource-controlling agents maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision. Economic science centers on the activities of the economic agents that comprise society. They are the focus of economic analysis. The traditional concern of economic analysis is to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy. An approach to understanding these processes, through the study of agent behavior under scarcity, may go as follows: The continuous interplay (exchange or trade) done by economic actors in all markets sets the prices for all goods and services which, in turn, make the rational managing of scarce resources possible. At the same time, the decisions (choices) made by the same actors, while they are pursuing their own interest, determine the level of output (production), consumption, savings, and investment, in an economy, as well as the remuneration (distribution) paid to the owners of labor (in the form of wages), capital (in the form of profits) and land (in the form of rent). Each period, as if they were in a giant feedback system, economic players influence the pricing processes and the economy, and are in turn influenced by them until a steady state (equilibrium) of all variables involved is reached or until an external shock throws the system toward a new equilibrium point. Because of the autonomous actions of rational interacting agents, the economy is a complex adaptive system.
  • 12. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 12 Economics focuses on the behavior and interactions of economic agents and how economies work. Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics. Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies). Other broad distinctions within economics include those between positive economics, describing "what is," and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and behavioral economics; and between mainstream economics (more "orthodox" and dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" and dealing with the "institutions-history-social structure nexus"). Besides the traditional concern in production, distribution, and consumption in an economy, economic analysis may be applied throughout society, as in business, finance, health care, and government. Economic analyses may also be applied to such diverse subjects as crime. education, the family, law, politics, religion, social institutions, war, and science; by considering the economic aspects of these subjects. Education, for example, requires time, effort, and expenses, plus the foregone income and experience, yet these losses can be weighted against future benefits education may bring to the agent or the economy. At the turn of the 21st century, the expanding domain of economics in the social sciences has been described as economic imperialism. Circuit Diagram:- Precaution:- Procedure:-
  • 13. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 13 Observation Table:- Calculations:- Results:- We have successfully studied about The Fundamentals of Economics. References:- 1. http://en.wikipedia.org/wiki/Economics 2. The Economist, Economics A-Z, "Opportunity Cost." Accessed 3 Aug. 2010 Viva- Voice:- Q.1 What is Economics? Q.2 What is The Fundamentals of Economics?
  • 14. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 14 EXPERIMENT NO. 4 Aim:- To study about brief history of Indian microeconomics. Apparatus Required:- Theory:- Microeconomics (from Greek prefix mikro- meaning "small" and economics) is a branch of economics that studies the behavior of individual households and firms in making decisions on the allocation of limited resources (see scarcity). Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services. This is in contrast to macroeconomics, which involves the "sum total of economic activity, dealing with the issues of growth, inflation, and unemployment." Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the aforementioned aspects of the economy. Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations'—i.e. based upon basic assumptions about micro-level behavior. Graphical representation of supply and demand Although it is normal to regard the quantity demanded and the quantity supplied as functions of the price of the good, the standard graphical representation, usually attributed to Alfred Marshall, has price on the vertical axis and quantity on the horizontal axis, the opposite of the standard convention for the representation of a mathematical function. Since determinants of supply and demand other than the price of the good in question are not explicitly represented in the supply-demand diagram, changes in the values of these variables are represented by moving the supply and demand curves (often described as "shifts" in the curves). By contrast, responses to changes in the price of the good are represented as movements along unchanged supply and demand curves.
  • 15. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 15 Supply schedule:- A supply schedule is a table that shows the relationship between the price of a good and the quantity supplied. A supply curve is a graph that illustrates that relationship between the price of a good and the quantity supplied. Under the assumption of perfect competition, supply is determined by marginal cost. Firms will produce additional output while the cost of producing an extra unit of output is less than the price they would receive. Indifference curves:- In microeconomic theory, an indifference curve is a graph showing different bundles of goods between which a consumer is indifferent. That is, at each point on the curve, the consumer has no preference for one bundle over another. One can equivalently refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer. Utility is then a device to represent preferences rather than something from which preferences come. The main use of indifference curves is in the representation of potentially observable demand patterns for individual consumers over commodity bundles. There are infinitely many indifference curves: one passes through each combination. A collection of (selected) indifference curves, illustrated graphically, is referred to as an indifference map. A. Price Elasticity of Demand and Supply:- 1. Price elasticity of demand measures the quantitative response of demand to a change in price. Price elasticity of demand (ED) is defined as the percentage change in quantity demanded divided by the percentage change in price. That is, In this calculation, the sign is taken to be positive, and P and Q are averages of old and new values. 2. We divide price elasticities into three categories: (a) Demand is elastic when the percentage change in quantity demanded exceeds the percentage change in price; that is, ED > 1. (b) Demand is inelastic when the percentage change in quantity demanded is less than the percentage change in price; here, ED < 1. (c) When the percentage change in quantity
  • 16. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 16 demanded exactly equals the percentage change in price, we have the borderline case of unit- elastic demand, where ED = 1. 3. Price elasticity is a pure number, involving percentages; it should not be confused with slope. 4. The demand elasticity tells us about the impact of a price change on total revenue. A price reduction increases total revenue if demand is elastic; a price reduction decreases total revenue if demand is inelastic; in the unit-elastic case, a price change has no effect on total revenue. 5. Price elasticity of demand tends to be low for necessities like food and shelter and high for luxuries like snowmobiles and vacation air travel. Other factors affecting price elasticity are the extent to which a good has ready substitutes and the length of time that consumers have to adjust to price changes. 6. Price elasticity of supply measures the percentage change of output supplied by producers when the market price changes by a given percentage. B. Applications to Major Economic Issues:- 1. One of the most fruitful arenas for application of supply-and-demand analysis is agriculture. Improvements in agricultural technology mean that supply increases greatly, while demand for food rises less than proportionately with income. Hence free-market prices for foodstuffs tend to fall. No wonder governments have adopted a variety of programs, like crop restrictions, to prop up farm incomes. 2. A commodity tax shifts the supply-and-demand equilibrium. The tax's incidence (or impact on incomes) will fall more heavily on consumers than on producers to the degree that the demand is inelastic relative to supply. 3. Governments occasionally interfere with the workings of competitive markets by setting maximum ceilings or minimum floors on prices. In such situations, quantity supplied need no longer equal quantity demanded; ceilings lead to excess demand, while floors lead to excess supply. Sometimes, the interference may raise the incomes of a particular group, as in the case of farmers or low-skilled workers. Often, distortions and inefficiencies result.
  • 17. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 17 Observation Table:- Calculations:- Results:- We have successfully studied about Indian microeconomics. References:- 1. Blaug, Mark (2007). "The Social Sciences: Economics". The New Encyclopædia Britannica, v. 27, p. 343. 2. Jump up ^ Deardorff, Alan V., 2006. Glossary of International Economics, Division of labor. Viva- Voice:- Q. 1 What is supply-and-demand? Q. 2 What is consumer surplus?
  • 18. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 18 EXPERIMENT NO. 5 Aim:- To study about brief history of Indian macroeconomics. Apparatus Required:- Theory:- Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies. With microeconomics, macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets. While macroeconomics is a broad field of study, there are two areas of research that are emblematic of the discipline: the attempt to understand the causes and consequences of short-run fluctuations in national income (the business cycle), and the attempt to understand the determinants of long-run economic growth (increases in national income). Macroeconomic models and their forecasts are used by both governments and large corporations to assist in the development and evaluation of economic policy and business strategy. Keynesian economics:- From Wikipedia, the free encyclopediaKeynesian economics (pron.: /ˈkeɪnziən/ KAYN-zee-ən; or Keynesianism) is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy). In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy; instead, it is influenced by a host of factors and sometimes behaves erratically, affecting production, employment, and inflation. The theories forming the basis of Keynesian economics were first presented by the British economist John Maynard Keynes in his book, The General Theory of Employment, Interest and Money, published in 1936, during the Great Depression. Keynes contrasted his approach to the 'classical'
  • 19. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 19 (more commonly 'neoclassical') economics that preceded his book. The interpretations of Keynes that followed are contentious and several schools of economic thought claim his legacy. Multiplier (ecnomics):- In economics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in some exogenous variable.For example, suppose variable x changes by 1 unit, which causes another variable y to change by M units. Then the multiplier is M. Money multiplier In monetary macroeconomics and banking, the money multiplier measures how much the money supply increases in response to a change in the monetary base. Bank:- bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and customers with capital surpluses. Due to their influence within a financial system and an economy, banks are generally highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords. International trade:- International trade is the exchange of capital, goods, and services across international borders or territories.[1] In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders. Exchange rate:-
  • 20. Stani Memorial College of Engineering And Technology, Phagi Electrical Engineering 3EE11A Humanities & Social Sciences Lab Manual 20 In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency. Circuit Diagram:- Precaution:- Procedure:- Observation Table:- Calculations:- Results:- We have successfully studied about Indian macroeconomics. References:- 1. Simon J.L. 1981. The ultimate resource; and 1992 The ultimate resource II. 2. Jump up ^ David Ricardo, 1817. On the Principles of Political Economy and Taxation. Viva- Voice:- Q.1 What is foreign exchange rate & International trade? Q.2 Define microeconomics & macroeconomics.