A SYNOPSIS ON

FORMS OF ECONOMIC ANALYSIS: MICRO vs. MACRO.

EQUILIBRIUM: PARTIAL vs. GENERAL, POSITIVE vs. NORMATIVE,
SHORT RUN vs. LONG RUN, RELATION BETWEEN ECONOMICS and
LAW: ECONOMIC OFFENCES and ECONOMIC LEGISLATIONS

Submitted By- ABHILASH MISHRA (B.A LL. B Semester- 1)

Submitted To- Mr. HARISH CHAND SINGH
 INTRODUCTION:

AIM:
To study and analyse different definitions of economics and
how economics is related to law.

OBJECTIVES:
 To study forms of Economic Analysis: MICRO vs.
MACRO
 To study different types of equilibrium.
 To compare Positive and Normative Economics.
 To compare Short-Term and Long-term Time
Management.
 To study the relation between Economics and Law, the
various Economic Legislations for the respective
Economic Offences.

RESEARCH METHODOLOGY:
The research methodology will be based on the Doctrinal
Method. The data will be secondary in nature. Information
and data will be collected, analysed and recommendations
will be made.
 RELEVANT DATA:
The relevant data will include online authentic sites,
authentic books related to concepts of Economics and some
articles from the universally known to be authentic related to
Economic Offences and Legislations.

RESEARCH TECHNIQUES FOR DATA COLLECTION:

The important data collection will include articles from both
online and offline sources with the tabulation of the results
of Micro and Macro Economics.

RESEARCH QUESTIONS:
 What are the different definitions of Economics?
 What is the difference between Partial and General
Equilibrium?
 What are the concepts of Positive and Normative
Economics?
 What is the relationship between Economics and Law?

HYPOTHESIS:
This paper seeks to examine the various forms pf Economics
i.e., Micro and Macro Economics, the difference between
Partial and General Equilibrium, the contrasting features of
Positive and Normative Economics, Short Run and Long Run
and the relationship between Economic Offences and
Economic Legislations.
PROPOSED CHAPTERIZATION:

 Executive Summary
 Objectives
 Research Methodology
1. Origin and definitions of Economics
2. Concepts of Micro and Macro Economics
3. Comparison of General and Partial Equilibrium
4. Concepts of Positive and Normative Economics
5. Analysis of Short Run vs. Long Run
6. Relation between Law and Economics

PROPOSED LITERATURE FOR RESEARCH:

ONLINE SOURCES-
1) Microeconomics vs. Macroeconomics: What’s the Difference?
https://www.investopedia.com/ask/answers/difference-between-microeconomics-and-
macroeconomics/, (visited on 5th August, 2019)

SCOPE: This article discusses the definitions of both Micro and Macro
Economics and also about how they are different from each other. Apart
from this, the article also gives some views of successful investors like
Warren Buffet and John Templeton about how they view the influence
of Macro Economics while making investments.
2. Positive vs. Normative Economics: What’s the difference?
https://www.investopedia.com/ask/answers/12/difference-between-positive-normative-
economics.asp, (visited on 5th August, 2019)
 SCOPE: This article discusses the definitions of Positive and Normative
Economics and their importance.

3. Differences between Positive and Normative Economics.

https://keydifferences.com/difference-between-positive-and-normative-economics.html,
(visited on 5th August, 2019)

SCOPE: This article discusses the difference between the Positive and
Normative Economics and their definition.

4. Relationship between Law and Economics.

https://www.econlib.org/library/Enc/LawandEconomics.html, (visited on 5th August, 2019)

SCOPE: This article discusses the relation between Law and Economics,
it’s history and significance and also gives some substance to explain it
well.

OFFLINE SOURCES-
1. Microeconomics: THEORY AND APPLICATIONS 3rd Edition
Author- D.N. Dwivedi
2. MICROECONOMIC THEORY
Author- K.N. Verma
3. ECONOMICS
Author- Sandeep Garg