department of economics 7/2/2012sxcran.org/download/syllabus/economics_ug.pdf · st. xavier’s...

ST. XAVIER’S COLLEGE, RANCHI

SYLLABUS FOR

B. A. ECONOMICS (HONOURS)

DEPARTMENT OF ECONOMICS

7/2/2012

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Dr. R.P.P. Singh, Dr. R. Sharan, Dr. P.C. Deogharia, S. Choudhary, Dr. H. Dayal, Dr. M. Barla, V.K. Pandey, D.M.Pathak.

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STRUCTURE OF THE COURSE

Semester-I Semester-II

Paper

no.

Name Marks Credit Paper

no.

Name Marks Credit

01 Consumer Behaviour

and Price Theory

100 5 03 Mathematical

Methods for

Economics

100 5

02 Money & Banking 100 5 04 Indian Economy-

Issues and Problems

100 5

Semester-III Semester-IV

Paper

no.


no.

Name Marks Credit

05 Distribution and

Welfare Economics

100 5 07 Macroeconomics 100 5

06 Statistical Methods in

Economics

100 5 08 International Trade 100 5

Semester-V Semester-VI

Paper

no.


no.

Name Marks Credit

09 Economic Growth and

Development

100 5 13 Environmental

Economics- II

100 5

10 Environmental

Economics- I

100 5 14 Public Economics 100 5

11 Group – A:

Mathematical

Economics - I

100 5 15 Group – A:

Mathematical

Economics - II

100 5

12 Group – A:

Econometrics - I

100 5 16 Group – A:

Econometrics - II

100 5

11 Group – B:

Agriculture - I

100 5 15 Group – B:

Agriculture - II

100 5

12 Group – B:

Demography - I

100 5 16 Group – B:

Demography - II

100 5

B.A. Economics (Subsidiary)

Semester –I Semester -II

Sl.

No.

Name Marks Credit Sl. No. Name Marks Credit

01 Principles of

Economics

100 3 02 Macroeconomics 100 3

Semester –III Semester -IV

Sl.

No.

Name Marks Credit Sl.

No.

Name Marks Credit

03 Public Finance and

International Trade

100 3 04 Indian Economic

Problems

100 3

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DEPARTMENT OF ECONOMICS

BOARD OF STUDIES

A meeting of board of studies for approval of syllabus of B.A. Economics (Honours) was held on

22/06/2012 in the conference hall of St. Xavier’s College at 04:30 PM. The following members

were present:

Sl. No. Name Designation Signature

1 Dr. R.P.P. Singh

Professor and Head, P.G.

Dept. of Economics,

Ranchi University,

Ranchi. (Expert)

2 Dr. Ramesh Sharan

Associate Professor, P.G.

Dept. of Economics,

Ranchi University,

Ranchi. (University

Nominee)

3 Dr. P.C. Deoghraria

Asst. Professor, P.G.

Dept. of Economics,

Vinoba Bhabe University,

Hazaribag (Expert)

4 Shri S. Choudhary

Reader & Head,

Dept. of Economics,

St. Xavier’s College,

Ranchi. (Chairman)

5 Dr. H. Dayal

Sr. Lecturer,

Dept. of Economics,


Ranchi. (Member)

6 Dr. M. Barla

Sr. Lecturer,

Dept. of Economics,


Ranchi. (Member)

7 Shri V.K. Pandey

Sr. Lecturer,

Dept. of Economics,


Ranchi. (Member)

8 Shri D.M. Pathak

Lecturer,

Dept. of Economics,


Ranchi. (Member)

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PAPER II CONSUMER BEHAVIOUR AND PRICE THEORY ECO101

Objective: to gain insight into the behaviour of consumers and producers in the economy by

studying demand and supply and its price sensitivity; consumer behaviour; production; the

operation of different markets such as perfect competition, monopoly, monopolistic competition

and oligopoly; general equilibrium and welfare.

Module 1: Introduction

1.1 Central Economic Problems- Scarcity and Choice including Collective Choice (03)

1.2 Micro, Macro, Static, Dynamic and comparative Static (03)

1.3 Methodology in economics- inductive and deductive (04)

NUMBER OF CLASSES-10

Module 2: Consumer’s Behaviour

2.1 Cardinal utility; law of diminishing marginal utility; derivation of

the Marshallian demand curve (05)

2.2 Ordinal utility – axioms; indifference curves, budget constraint and

consumer’s equilibrium (04)

2.3 Price-effect: Substitution (Hicks and Slutsky) and Income-effects (02)

2.4 Price – consumption, Income-consumption curves (01)

2.5 Consumer’s surplus- Marshallian measurement and applications, Measurement through

Indifference Curves (05)


Module 3: Theory of Production and Costs

3.1 Production function- Short- Run and Long Run (01)

3.2 Law of variable proportions (03)

3.3 Returns to scale, Economies of scale-external and internal (02)

3.4 Iso-quant analysis- Producer’s Equilibrium, Expansion Path, Ridge Lines and Economic

Region of Production (04)

3.5 Concepts of cost and Revenue, Relationship between Cost and Production (03)


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Module 4: Market Structure

4.1 Market forms — Perfect and imperfect markets- salient features (02)

4.2 Equilibrium of a firm and industry (Short run and Long Run) under perfect competition,

derivation of supply curve (04)

4.3 Monopoly- price and output determination (Short run and Long Run), Equilibrium under

discriminating monopoly, Measure of monopoly power (05)

4.4 Monopolistic competition- feature and Chamberlin’s Approach only (03)

4.5 Duopoly-Cournot Model (02)

4.6 Oligopoly- Features, Equilibrium under Joint profit maximization (04)


TOTAL NUMBER OF CLASSES-60

Non-Detailed Section (Self – Study) – 01 Credit Course

1. History of Economic Thought: T. N. Hajela (Konark Publishers Pvt.ltd.):

Book- II: Pre-Classical Economic Thought (chapter- 4&5)

Books Recommended:

1. A.Koutsoyiannis: Modern Microeconomics, Macmillan (2nd

Edition, 2008)

2. Satya R. Chakraborty: Microeconomics, Allied Publishers, New Delhi.

3. Hal R.Varian: Microeconomic Analysis, W. W. Norton & Company • New York • London

4. Stonier and Hague: A Text Book of Economics, New York: John Wiley & Sons

5. Samuelson and Nordhaus: Economics, Irwin McGraw-Hill (17th

Edition is available)

References:

1. W.J.Baumol: Economic Theory and Operation Analysis, Prentice-Hall

2. N.C.Ray: Microeconomic Theory, Macmillan Publishers India

3. Richard A. Bilas: Microeconomic Theory, McGraw-Hill

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PAPER II MONEY AND BANKING ECO102

Objective: to enable students to understand the role of money, structure and working of financial

system and the role of economic policy.

Module 1: Value of Money and Inflation

1.1 Money — meaning, and functions (04)

1.2 Quantity theory of money — Cash transaction and cash balance approaches, The Keynesian

approach, Real-Balance Effect (10)

1.3 Inflation, deflation and reflation — definition, types, causes and effects (04)

1.4 Measures to control inflation- Monetary and Fiscal Measures (02)

1.5 Trade-off between inflation and unemployment- short run and long run Philips Curve (01)


Module 2: Central Banking

2.1 Functions of a central bank – with reference to RBI (04)

2.2 Supply of Money- concepts, components and aggregates, Money Multiplier (03)

2.3 Quantitative and qualitative methods of credit control (03)

2.4 Objectives and limitations of monetary policy with special reference to India (02)


Module 3: Commercial Banking

3.1 Meaning, Types, Functions and Principles of commercial banks (06)

3.2 Structure of Balance sheet of a Commercial bank (02)

3.3 The process of credit creation (04)

3.4 Recent reforms in banking sector in India- Narasimham Committee I & II (03)


Module 4: Financial Markets

4.1 Banking System, Bond Market, Foreign Exchange Market, Equity Market: Concepts (05)

4.2 Introduction to the concept of Derivative (03)

4.3 Futures, Options, Call/Put (03)


TOTAL NUMBER OF CLASSES- 60

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Book- III: Classicism (chapters- 6, 8, 9, 10(only J.S. Mill)

Text Books:

1. Monetary Economics- Institutions, Theory & Policy - S.B Gupta, S. Chand Group

2. Keynes and Post Keynesian Economics- R.D. Gupta, Kalyani Publishers (New Delhi)

3. M.C. Vaish: Monetary Theory, Vikas Publishing House

4. Maudrik Arthashastra- H.N.P.S Suman.

5. T.T.Sethi:: Mudra,Banking and Antarrashtriya Vyapar

6. John C.Hull: Options, Futures and Other Derivatives.

7. Ahuja, H.L: Macroeconomics

8. L.M. Bhole (1999): Financial Institutions and Markets, Tata McGraw Hill

References:

1. De Cock, M.H Central Banking, Staples Press, London.

2. Sayers', R.S, Modern banking (OUP, Delhi).

3. Harris, C.L. Money and Banking.

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PAPER- III MATHEMATICAL METHODS FOR ECONOMIC ECO203

Objective: to enable students to use mathematical techniques to estimate economic relationships

by using actual data.

Module 1: Basic Concepts

1.1 Set Theory: concepts and set operations (10)

1.2 Variables and Functions, Equations and Systems of equations (18)


Module 2: Calculus

2.1 Concept of Limit and Differentiation (simple and partial) of a Function (15)

2.2 Maxima and Minima (unconstrained and constrained), and its applications

in Economics (10)

2.3 Elasticities and its simple economic applications (05)

2.4 Inter-relationships among total, marginal and average cost and revenues (04)


Module 3: Matrix and Determinants

3.1 Various types of matrices (02)

3.2 Matrix operations (04)

3.2 Determinants (02)

3.3 Inverse of a matrix (03)

3.4 Crammer’s rule (02)



Books recommended:

1. Baumol.W.J: Economic Theory and Operational Analysis

2. Yamane: Mathematics for economis

3. Chiang, A.C: Fundamental Methods of Mathematical Economics.

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PAPER- IV INDIAN ECONOMY: ISSUES AND PROBLEMS ECO204

Objective: to enable students to develop an understanding of the nature and structure of Indian

economy, the institutional framework of economic policy-making in India and important

economic policy issues in India, as well as to develop an ability to apply theoretical knowledge

in an integrated manner to the policy analysis of important economic issues in India.

Module1: Structure of Indian Economy and Planning

1.1Basic Features of Indian Economy- Land, Water and Forest Resources (05)

1.2 National Income: sectoral composition-pattern of Income distribution- Inequalities in Income

(05)

1.3 Population: characteristics and analysis (04)

1.4 Planning in India-stragies, objectives, evaluation and current five year plan (06)


Module 2: Agriculture

2.1Trends in agricultural production and productivity, Factors determining productivity (03)

2.2 Land Reforms (03)

2.3 New agricultural strategy and green revolution (03)

2.4 Rural credit (02)

2.5Agricultural marketing (02)


Module 3: Industry

3.1 Industrial policy of 1948, 1956 and 1991 (05)

3.2 Industrial licensing policy (01)

3.3 MRTP Act, (01)

3.4.FERA and FEMA (02)

3.5 Growth and problems of small scale industries (03)

3.6 Role of public sector enterprises in India’s industrialization (02)


Module 4: External Sector

4.1 Role of foreign trade (01)

4.2 Trends, Composition and direction of India’s foreign trade (01)

4.3 Balance of payments crisis and the New economic reforms (05)

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4.4. Foreign capital — FDI, aid; Multinational corporations (03)


Module 5: Important Areas of Concern

5.1 Poverty and its measurement: absolute and relative poverty, Poverty line, poverty gap, square

of poverty gap, (02)

5.2 The poverty alleviation programmes of the government (04)

5.3 Unemployment and its measurement, types of unemployment (03)

5.4 Rising prices (01)


Module 6: Developmental Issues of Jharkhand

6.1 Basic features of Jharkhand economy (03)

6.2 The major problems of Jharkhand economy (03)

6.3 State economic policy (02)

NUMBER OF CLASSES-8


Text Books:

1. Dutt, R and KPM Sundharam:- Indian Economy,

2. Mishra S.K. and V.K.Puri- Indian Economy

3. Government of India : Economic Survey

4. Mishra and Puri: Bhartiya Arthashast

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PAPER- V DISTRIBUTION AND WELFARE ECONOMICS ECO305

Objective: to gain insight into the factor pricing, dimensions of welfare economics and

alternative theories of firms.

Module 1: Factor Pricing

1.1 Marginal productivity theory of distribution (03)

1.2 Adding up problem (use of C- D Function) (02)

1.3 Theories of wage determination under imperfect market condition (06)

1.4 Rent — Ricardian and Modern Theory (04)

1.5 Interest- Classical Theory (03)

1.6 Profits —Dynamic, Innovation, risk and uncertainty theories (04)


Module 2: Welfare Economics

2.1 Concept of welfare, Value Judgement (03)

2.2 Pigou’s welfare economics; Market Failure, Deadweight loss, Externalities in consumption

and production (05)

2.3 Pareto’s criteria of measuring welfare (05)

2.4 Compensation principle — Kaldor, Hicks and Scitovsky (05)

2.5 Concept of a social welfare function: Samuelson-Bergeson (04)


Module 3: Behavioural and Managerial Theories of Firm

3.1 Alternative Theories of Firm: Bains Limit Pricing theory (03)

3.2 Baumol's Theory of Sales Maximization (04)

3.3 Cyert and March Behavioural Model (04)

3.4 Pricing practices- concept of - Peak-Load Pricing, Administered Pricing, Ramsey Pricing and

Shadow Price (04)



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3. Non-Detailed Section (Self – Study) – 01 Credit Course

History of Economic Thought: T. N. Hajela (Konark Publishers Pvt.ltd.):

Book-IV- Reaction against Classicism

Chapters-13,14,& 15,

Books Recommended:

1. A.Koutsoyiannis: modern micronomics

2. S.Chakraborty: microeconomics

References:

1. W.J.Baumol: Economic Theory and Operation Analysis

2. N.C.Ray: Microeconomic Theory

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PAPER- VI STATISTICAL METHODS IN ECONOMICS ECO306

Objective: to enable students to use statistical techniques to estimate economic relationships by

using actual data.

Module 1: Introduction to Statistics

1.1 Basic Concepts of Population, Sample, Parameter, Statistic, Primary and Secondary Data (7)

1.2 Classification and Tabulation (04)

1.3 Graphic and diagrammatic representation of data (04)


Module 2: Central Tendency and Dispersion

2.1 Measures of central tendency; Mean, Median, Mode, Geometric mean

and Harmonic mean (08)

2.2 Measures of dispersion; Range, Mean Deviation, Quartile deviation,

Standard deviation, Coefficient of variation, Lorenz Curve (08)

2.3 Moments- arbitrary origin and central moments (05)

2.4 Measures of Skewness and Kurtosis (04)


Module 3: Correlation and Regression

3.1 Correlation, Coefficient of correlation — Karl Pearson and Rank Correlation (05)

3.2 Regression analysis- linear regression and interpretation of regression coefficients (07)


Module 4: Time Series and Index Numbers

4.1 Time series analysis: Concept and components, Least Square Method of Determination of

Trend (05)

4.2 Index numbers: Concept, price relative, quantity relative, value relative (02)

4.3 Method of Construction of Index Numbers- Laspeyer’s, Paasche’s and Fisher's (05)

4.4 Tests for Adequacy of index number (03)


Module 5: Probability

5.1 Probability: Concept and Rules of probability- Addition, Multiplication (08)



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Textbooks:

1. Introduction to statistics: Goon Gupta and Dasgupta, world press,kolkata

2. Basic statistics: Nagar and Das

3. Statistics – M. R. Spiegel (Schaum Outline Series)

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PAPER- VII MACRO ECONOMICS ECO407

Objective: to gain insight into macroeconomic theory and variables such as total production and

income of a country, to study various theoretical macroeconomic views on the determination of

income in a closed and open economy and the elements of investment decisions.

Module 1: National Income and Social Accounts

1.1 Concept of Circular Flow, National income identities with government and international

trade (04)

1.2 Methods of National income accounting (06)

1.3 Concept of Social Accounts (02)

1.4 Environmental concerns in national accounts — green accounting (02)


Module2: Rate of Interest

2.1 Liquidity Preference Theory (03)

2.2 The Goods market and IS curve; The Money market and the LM curve (04)

2.3 IS- LM approach of determination of rate of interest (03)


Module 3: Output and Employment

3.1 Say’s law of markets and the classical theory of employment (03)

3.2 Keynes’ objection to the classical theory (02)

3.2 The principle of effective demand (02)

3.4 Consumption function — Keynes', Lifecycle, Friedman's, Factors influencing consumption

spending (04)

3.5 Investment Function — Autonomous and Induced investment; MEC and MEI (03)

3.6 The investment multiplier and its effectiveness in LDCs (04)

3.7 Accelerator (04)

3.8 Explaining fluctuations with I S-LM model. IS-LM as a theory of Aggregate Supply (03)


Module 4: Investment Analysis

4.1 Capital Budgeting and Investment Analysis (04)

4.2 Payback period—average annual rate of return, Net present value, Internal rate of return

criteria , elements of social cost-benefit analysis (07)

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Book-IV- Reaction against Classicism

Chapters- 17 & 18,

Textbooks:

1. Macroeconomics: Dornbusch, Fischer and starts, (TMH, N.Delhi)

2. Macroeconomics: N.Gregory Mankiw

3. Macroeconomics: Soumen Sikdar (OUP)

4. T.T.Sethi: Mudra, Banking and Antarrashtriya Vyapar

References:

1. De Cock, M.H Central Banking, Staples Press, London.

2. Sayers', R.S, Modern banking (OUP, Delhi).

3. Harris, C.L. Money and Banking.

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PAPER- VIII INTERNATIONAL ECONOMICS ECO408

Objective: to gain insight into some important aspects of international economics namely: the

theories, advantages and disadvantages, protectionist measures, agreements, and organisations

associated with international trade.

Module 1: Trade Theories

1.1 Importance of the study of international economics (02)

1.2 Inter-regional and international trade (01)

1.3 Theories of absolute advantage, comparative advantage and opportunity cost (10)

1.4 Heckscher-Ohlin theory of trade — its main features, assumptions and limitations, Leontief

Paradox (08)


Module 2: Terms of Trade and Gains from Trade

2.1 Concepts of terms of trade and their importance in the theory of trade (03)

2.2 Gains from trade — their measurement and distribution, concept of Offer Curves (07)


Module 3: Barriers to Trade

3.1 Free Trade vs. Protection (01)

3.2 Types of tariffs and quotas (04)

3.3 Their impact in partial equilibrium analysis (03)

3.4 Concept of optimum tariff (02)


Module 4: Balance of Payments

4.1 Concepts and components of balance of trade and balance of payments (03)

4.2 Equilibrium and disequilibrium in balance of payments (01)

4.3 Causes and Consequences of deficit disequilibrium in balance of payments (06)

4.4 Various measures to correct deficit in the balance of payments (03)

4.5 Relative merits, demerits and limitations of devaluation, Marshall Lerner Condition (04)

4.6 Role and Functions of IMF (02)


TOTAL NUMBER OF CLASSES: 60

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Book-V & VI- Chapters- 19 & 21,

Text Books:

1. Sorderston, BO: International Economics, Mac Millan, London

2. Salvatore, D.L: International Economics, Prentice Hall, NJ.

3. Sudama Singh: International Economics,

4. Barla, C.S : Anterrashtriya Vyapar

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PAPER- IX ECONOMIC GROWTH AND DEVELOPMENT ECO509

Objective: to gain insight into development challenges posed by poverty, income inequality,

population growth, unemployment, urbanisation and migration, as well as to deepen students’

understanding of the theoretical contributions to economic growth and development.

Module 1: Introduction to Economic Growth and Development

1.1 What is Economic Growth? (01)

1.2 Economic Growth and Development: A Contrast (01)

1.3 Sources and limitations of Economic Growth (05)

1.4 Development and Underdevelopment (03)

1.5 Measuring development — GDP and Per-capita Income, PQLI, HDI, The Capability

Poverty Measure (10)


Module 2: Theories of Development

2.1 Classical Theories of Development- Adam Smith, Ricardo and Marx (05)

2.2 Schumpeter and Capitalistic Development (03)


Module 3: Theories of Underdevelopment

3.1 Vicious circle of poverty (03)

3.2 Big Push (03)

3.3 Theory of Critical Minimum Effort (03)

3.4 Lewis's Model (03)


Module 4: Growth Models

4.1 Some Basic Concepts and Tools to Study Growth Models (05)

4.2 Harrod-Domar (05)

4.3 Solow (05)

4.4 Mrs. Joan Robinson (05)


TOTAL NO OF CLASSES: 60

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Book- VI- Chapters- 22, 23, & 24

Text Books:

1. Meier, G.M.: Leading Issues in Economic Development (OUP, N.Delhi)

2. Chakravarti, S: Alternative Approaches to the Theory of Economic Growth (OUP, N.Delhi)

3. Romer, David. (2001), Advanced Macroeconomics (2nd edition). McGraw-Hill, Singapore.

4. Ghatak, S. (2003) Introduction to Development Economics, , Routledge, London,

5. Barro, Robert, and Sala- I-Martin. (2004), Economic Growth (2nd edition) McGraw-Hill

Singapore

6. Economic Development: B. Higgins.

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PAPER-X ENVIRONMENTAL ECONOMICS- I ECO510

Objective: to gain insight into the relationship between the economy and the natural

environment, as well as to apply economic measures for the management and conservation of the

natural environment and natural resources.

Module 1: Environmental Issues

1.1 Elementary ecology, entropy law, laws of thermodynamics (05)

1.2 Two-way environment-economy linkages (03)

NO OF CLASSES: 8

Module 2: Basic Concepts

2.1 Basic concepts — elements of capital theory, externality, public goods, uncertainty and

irreversibility, renewable and non-renewable resources, common property resources (08)

2.2 Social cost-benefit analysis (04)

NO OF CLASSES: 12

Module 3: Environmental Degradation

3.1 Causes and effects of environmental degradation, degradation of land, forest and natural

resources (04)

3.2 Pollution from energy use — effects on health, land, water and air (03)

3.3 Valuation of environmental damages/benefits, direct and indirect methods (03)

3.4 Pollution prevention, control and abatement (07)

NO PF CLASSES: 17

Module 4: Environmental Policies

4.1 Legal institutions and instruments; Command and control vs. market-based instruments;

taxes vs. permits; direct and indirect instruments of pollution control (08)

4.2 Pollution control system and policy in India —Legislation, standards and enforcement (07)

4.3 Concepts and indicators of sustainable development (05)

4.4 Environmental accounting (03)

NO OF CLASSES: 23


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Book- VII- Chapters- 27 & 28

Books Recommended:

1. Ahmed M.Hussain: Principles of Environmental Economics

2. Pearce, David: Environmental Economics

3. Bhattacharya, R.N: Environmental Economics

4. Karpagamm, (2001), Environmental Economics. A Text Book. Sterling

Publishers, Pvt. Ltd. New Delhi.

5. Nick Hanby, Jason F. Shagren (1999), Environmental Economics. In Theory and

Practice. Macmillan Press Ltd, Delhi.

6. Robert N. Stavins, (1999), Economics of the Environment. Selected Readings.

(4 th Edition), W.W Norton and company, New York.

7. Barry C. Field & Martha K. Field, (2002), Environmental Economics. An

Introduction (Third Edition), Magraw Hill Irwin, Boston.

8. B.K. Sharma & H.Kaur (1997), An Introduction to Environmental Pollution,

Goel Publishing House, Meerut.

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PAPER-XIII ENVIRONMENTAL ECONOMICS –II ECO613

Objective: to gain insight into the relationship between the economy and the natural

environment, as well as to apply economic measures for the management and conservation of the

natural environment and natural resources.

Module 1: Educational Economics

1.1 Human capital — Human capital vs. physical capital, components of human capital (05)

1.2 Determinants of demand for education; Costs and benefits of education (05)

1.3 Educational planning and economic growth (08)

1.4 Educational financing (03)

1.5 Education and labour market (04)

1.6 Economics of education planning in developing countries with special emphasis on India

(10)

NO OF CLASSES-35

Module 2: Health Economics

2.1 Determinants of health; Economic dimensions of health care (05)

2.2 Appraisal of health care financing (03)

2.3 The concept of human life value; Benefit-cost and cost effectiveness approaches (08)

2.4 Inequalities in health- class and gender perspectives (06)

2.5 Institutional issues in health care delivery (08)

NO OF CLASSES: 30

Module 3 – Project Work : 3.1 Introduction to Project Work

NO OF CLASSES: 10


PROJECT WORK (20 marks)

Every student shall be required to take up one project either individually or in a group. A list of project

works shall be prepared by departmental committee out of which the student will select the desired topic.

The project work will be selected in the beginning of the third year class and will have to be completed

before the final examination.

References:

1. BERMAN, P: Health Sector Reform in Developing Countries; Making Health Development

Sustainable

2. Blaug, M: Introduction to Economics of Education

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PAPER- XIV PUBLIC ECONOMICS ECO614

Objective: to gain insight into the economic reasons for government intervention in the economy,

the theory of government expenditure, the theory of taxation, social policy and public debt, and

intergovernmental fiscal relations.

Module 1: Nature and Scope of Public Finance

1.1 Meaning and scope of public finance (04)

1.2 Distinction between private and public finance, Public goods vs. private goods (02)

1.3 Market failure, Role of the government (02)

1.4 The Principle of maximum social advantage (04)


Module 2: Public Expenditure

2.1 Meaning and classification of public expenditure (02)

2.2 Canons and effects of public expenditure (06)

2.3 Trends in public expenditure and causes of growth of public expenditure in India (02)


Module 3: Taxation

3.1 Sources of public revenue (02)

3.2 Taxation — Meaning, canons and classification of taxes (06)

3.3 Principles of Taxation — The benefit and ability-to-pay approaches (06)

3.4 Impact and incidence of taxes, Taxable capacity (04)

3.5 The Indian Tax system- structure and main features (02)


Module 4: Public Debt and Financial Administration

4.1 Public Debt- meaning, types, Sources and need (02)

4.2 Effects and Burden of public debt (03)

4.3 Methods of debt redemption (02)

4.4 Public debt, deficits and subsidies in the Indian Economy- interlinkages (03)

4.5 Fiscal Policy- objectives and instruments (02)

4.6 Preparation of Budget in India and the concepts of Deficits (02)

4.6 Salient features of Centre-State financial relations in India (04)

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Book- X: (chapter- 38, 39, &40)

Text Books:

1. Musgrave and Musgrave; Public Finance in Theory and Practice, McGraw Hill, Tokyo.

2. Dalton: Public Finance

3. Tyagi: Public Finance

4. Bhatia, H.L: Public Finance

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OPTIONAL PAPERS

SET- A

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PAPER-XI MATHEMATICAL ECONOMICS-I ECO511M



Module 1: Elements of Co-ordinate Geometry and Methods of Calculus

1.1 Straight line, Parabola, Rectangular Hyperbola and Circle (05)

1.2 Differentials and Differentiation and Integration of Functions (10)

1.3 Difference and differential equations (First order only) (08)

1.4 Its economic applications- time-lag analysis and cobweb model, concept of dynamic

stability (05)

NO OF CLASSES: 28

Module 2: Consumer Theory

2.1 Utility function; budget line (03)

2.2 Constrained optimization; Consumer’s equilibrium (06)

2.3 Income effect; substitution effect and price effect (04)

2.4 Derivation of demand curve; Elasticity of demand (04)

2.5 Consumer’s surplus (04)

NO OF CLASSES: 21

Module 3: Theory of Production

3.1 Properties of production function — Homogeneous and

non-homogeneous; Cobb-Douglas, CES, Adding up theorem (10)

3.2 Technological progress and production function (02)

3.3 Choice of optimal combination of factors of production (03)

3.4 Cost and revenue functions; Derivation of cost curves; Relation between

total, average and marginal cost and revenue (06)

3.5 Production possibility curve (03)

3.6 Producer’s Surplus (02)

NO OF CLASSES: 26


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References:

1. Allen R.G.D (1974) Mathematical Analysis for Economists Macmillan Press, London.

2. Chiang, A.C. (1986), Fundamental methods of mathematical economics (Third

Edition) McGraw Hill, N. Delhi.

3. Hands, d.W. (1991), Introductory Mathematical Economics, D.C. Heath.

4. Henderson and R.E.Quandt: A Mathematical Approach

5. Gravel and Rees: Microeconomic Theory

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PAPER-XII ECONOMETRIC METHODS-I ECO512E

Objective: to enable students to use statistical and mathematical techniques to estimate economic

relationships by using actual data.


1.1 Definition and scope of econometrics (04)

1.2 The methodology of econometric research (04)

1.3 Specification and estimation of an econometric model (04)

1.4 Desirable properties of estimators; unbiasedness, efficiency, consistency

and sufficiency (08)

NO OF CLASSES: 20

Module 2: Probability and Mathematical Expectation

2.1 Probability: concepts, sets and sample space (03)

2.2 Addition and Multiplication theorem, Baye’s theorem (04)

2.3 Discrete and Continuous random variables (02)

2.4 Mathematical Expectation: meaning and properties (06)

NO OF CLASSES: 15

Module 3: Simple Regression Analysis and Theoretical Distribution

3.1 Statistical vs. deterministic relationships (02)

3.2 Correlation and regression; Coefficient of determination, Multiple and Partial Regression

(08)

3.3 Theoretical frequency distribution: binomial, poisson and normal (10)

3.4 Sampling distribution of a statistic, Central Limit Theorem (05)

3.5 Testing of hypothesis; point and interval estimation (04)

3.6 Type-I and Type-II errors; power of a test; Standard errors (03)

3.7 Tests based on Z, t and Chi-square and F statistics (08)

NO OF CLASSES: 40


Text Book:

1. Maddala, G.S.: Introduction to Econometrics, McGraw Hill, New York.

2. Hooda, R.P.: Statistics for Business and Economics, Mc Millan, New Delhi.

3. Mathematical Statistics with Applications by John E. Freunds

Reference: 1. Gujrati, D.: Basic Econometrics (third edition), Mc Graw Hill, New York.

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PAPER-XV MATHEMATICAL ECONOMICS-II ECO615M



Module 1: Market Structure

1.1 Concept of equilibrium (02)

1.2 Equilibrium of the firm under perfect competition (04)

1.3 Monopoly, Price-Discrimination, Multi-Plant Monopoly (04)

1.4 Duopoly- Cournot Model (02)

1.5 Monopolistic competition- firm’s equilibrium, Impact of Advertisement expenditure (05)

1.6 Impact of Taxes and Subsidies on Equilibrium price and output (03)

NO OF CLASSES: 20

Module 2: Input-Output Analysis and Linear Programming

2.1 Input-output analysis; the simple closed (10)

2.2 Hawkin-Simon conditions (02)

2.3 Linear programming — Basic concepts, primal and dual;

Basic theorems of linear programming (08)

2.4 Graphic and simplex method-up to three variables (15)

NO OF CLASSES: 35

Module3; Game Theory

3.1 Introduction and concepts — simple and mixed strategy; saddle point solution (07)

3.2 Payoff matrix of a game — two-person-two-commodity and zero-sum game (10)

NO OF CLASSES: 20

References: TOTAL NUMBER OF CLASSES-75

1. Allen R.G.D (1974) Mathematical Analysis for Economists Macmillan Press, London.

2. Chiang, A.C. (1986), Fundamental methods of mathematical economics (Third

Edition) McGraw Hill, N. Delhi.

3. Colell, A. Mas. et.al. (1991), Micro Economic Theory, Harvard University Press, Cambridge,

4. Hands, d.W. (1991), Introductory Mathematical Economics, D.C. Heath.

5. Henderson&Quandt; Microeconomics-a mathematical approach

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PAPER-XVI ECONOMETRIC METHODS-II ECO616E

Objective: to enable students to use statistical and mathematical techniques to estimate economic

relationships by using actual data.

Module 1: Estimation Theory

1.1 Ordinary least squares (OLS) — Two variabe Linear Method, Assumptions, (12)

1.2 Properties of OLS (05)

1.3 Testing of regression coefficient; Test for regression as a whole (10)

1.4 Non- linear relationship in two variables (03)

NO OF CLASSES: 30

Module 2: Problems in OLS Estimation

2.1 Heterosedasticity; - their consequences, tests and remedies (12)

2.2 Auto correlation (first order); - their consequences, tests and remedies (13)

NO OF CLASSES: 25

Module 3: Lag Models and Some Applications of Econometric Methods

3.1 Lags in econometric models — Concepts, Koyck model; Partial adjustment

and adaptive expectation models (10)

3.2 Use of dummy variables for pooled data (03)

3.3 Estimation of Cobb-Douglas Production Function (07)

NO OF CLASSES: 20

TOTAL NUMBER OF CLASSES: 75

Text Book:

1. Maddala, G.S.: Introduction to Econometrics, McGraw Hill, New York.

2. Gujrati, D.: Basic Econometrics (third edition), Mc Graw Hill, New York.

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OPTIONAL PAPERS

SET- B

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PAPER-XI AGRICULTURAL ECONOMICS-I ECO511A

Objective: to have insight into the specific features and development of Indian agriculture.

Module 1: Rural Economy of India

1.1 Place of agriculture in rural economy (04)

1.2 Composition of the Indian rural economy; farm sector, and non-farm sector (05)

1.3 Diversification of agriculture- Agriculture and allied activities (fisheries, horticulture, and

floriculture) (06)

1.4 Forestry in India: Its growth, problems and state policies (05)

1.5 Cattle wealth of India and dairying (04)

NO OF CLASSES: 24

Module 2: Development of Agriculture

2.1 Role and importance of agriculture in Economic Development: linkages between the

agricultural sector and the non-agricultural sector, changing nature of linkages (08)

2.2 Agricultural resources in India: land utilization and cropping pattern (06)

2.3 Irrigation in India; Command area development and flood control (04)

2.4 Trends in agricultural growth and agricultural productivity; Pattern of Agricultural

development: regional variation (06)

NO OF CLASSES: 24

Module 3: Agrarian Relations and Land Reforms in India

3.1 Agrarian Relations: historical evolution and land reforms programme during 1950s and

1960s (04)

3.2 Land Reforms: programme and performance during 1970s and after (06)

NO OF CLASSES: 10

Module 4: Technological Change in Agriculture

4.1 Technology in agriculture: traditional techniques and practices, HYV Seeds — fertilizers,

water technology (green revolution) (08)

4.2 Sustainable agriculture (03)

4.3 Emerging trends in agricultural technology; Dry land farming, use of bio-technology

techniques (06)

NO OF CLASSES: 17


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Text Books:

1. Sadhu A.N and J. Singh: Agricultural Problems in India.

2. Bilgramy, S.A.R.: An Introduction to Agricultural Economics

3. Soni, R.N: Leading Issues in Agricultural Economics

4. P.L. Sankhayan, (1988), Introduction to the economics of Agricultural

Production, Prentice Hall of India Pvt. Ltd. New Delhi.

5. K.K.Markande & R.K.Kulshrestha, (1998), Agriculture Economics, Aman Publishing

House, Meerut.

6. S. S. Reddy & P. Raghu Ram, (2004), Agricultural Economics, Oxford & IBH

Publishing Co. Pvt. Ltd. Delhi.

7. N.L. Agrawal, (2003), Bhartiya Krishi ka Arthtantra, Rajasthan Hindi Granth

Academy, Jaipur.

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PAPER-XII DEMOGRAPHY- I ECO512D

Objective: to enable the students to use analytical tools in understanding the dynamics of

population and its connection with the economic growth and development.


1.1 Demography – Concepts, Definitions, Nature Scope and Importance (06)

1.2 Population study and demography: similarities and differences (02)

1.3 Relationship with other disciplines: Sociology, Geography,

Economics and Biology (07)

NO OF CLASSES: 15

Module 2: Sources of Demographic Data in India

2.1 Population- census (04)

2.2 Civil registration System (03)

2.3 Demographic Surveys (08)

2.4 Merits and Demerits of Sources of population data (03)

NO OF CLASSES: 18

Module 3: Theories of Population

3.1 Malthusian Theory of Population (10)

3.2 Optimum theory of population (04)

3.3 Theory of Demographic Transition (08)

NO OF CLASSES: 22

Module 4: Techniques of Analysis - I

4.1 Crude birth and death rates, age specific birth and death rates,

Standardized birth and death rates: concepts, relative merits and demerits (10)

4.2 Study of Fertility: concept, factors affecting fertility and measurement:

Total fertility rate, gross reproduction rate, and net reproduction rate:

Concepts, relative merits and demerits (10)

NO OF CLASSES: 20


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Text Books:

1. Agarwal U.D. (1999), Population Projections and Their Accuracy, B.R. Publishing

Corporation,New Delhi.

2. Bhende, A.A. and T.R. Kanitkar (1982), Principles of Population Studies, Himalaya

Publishing House, Bombay.

3.Bogue, D.J. (1971), Principles of Demography, John Wiley, New York.

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PAPER-XV AGRICULTURAL ECONOMICS-II ECO615A

Objective: to have insight into the specific features and development of Indian agriculture.

Module 1: State and Agriculture-I

1.1 Agricultural finance in India: Importance; types of requirements; sources: non-institutional

and institutional: existing rural credit delivery system (multi-agency approach) (10)

1.2 Agricultural marketing in India: markets and marketing functions, channels of distribution of

various commodities; regulated markets and warehousing (10)

1.3 Role of cooperatives in Agriculture (05)

NO OF CLASSES: 25

Module 2: State and Agriculture-II

2.1 Agricultural Planning in India: decentralized planning and indicative planning (10)

2.2 Incentives in agriculture: price and non-price incentive; input subsidies (05)

2.3 Agricultural Price Policy (APP): Nature of demand and supply of agricultural products: Need

for state intervention; objectives of APP; instruments and evaluation (10)

NO OF CLASSES: 25

Module 3: Indian Agriculture since Independence

3.1 An overview of agricultural development (04)

3.2 Under-employment and unemployment in the rural economy (03)

3.3 Globalization of Indian Economy and its effects on Indian agriculture (05)

3.4 WTO and Indian agriculture (03)

NO OF CLASSES: 15

Module 4: Growth Models

4.1 Lewis (05)

4.2 Schultz (05)

NO OF CLASS ES: 10


Text Books:

1. Sadhu A.N and J. Singh: Agricultural Problems in India.

2. Bilgramy, S.A.R.: An Introduction to Agricultural Economics

3. Soni, R.N: Leading Issues in Agricultural Economics

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PAPER – XVI DEMOGRAPHY- II ECO616D

Objective: to enable the students to use analytical tools in understanding the dynamics of

population and its connection with the economic growth and development.

Module1: Techniques of Analysis II

1.1 Marriage and Marital Dissolution: concepts and measurement (05)

1.2 Life table: meaning, construction and its uses (12)

1.3 Reproductive and child health (RCH) in India: status and assessment (07)

NO OF CLASSES: 24

Module2: Population Projection

2.1 Meaning, Types and Uses (02)

2.2 Techniques of population projection: Mathematical and Component methods

- their relative merits and demerits (10)

2.3 Concept of stationary, stable and quasi-stationary population (04)

2.4 Aging of population: concept, status and assessment with reference to India (05)

2.5 Changes in family structure and old age security in India (05)

NO OF CLASSES: 26

Module3: Population Policy

3.1 Evolution of population policy in India: assessment (07)

3.2 The National Population Policy (NPP): facts and achievements (06)

3.3 Family Planning and Family Welfare Programme: assessment (07)

3.4 Salient features of 2011 census (05)

NO OFCLASSES: 25

TOTAL NO CLASSES: 75

BASIC READING LIST:

1. Bogue, D.J. (1971), Principles of Demography, John Wiley, New York.

2. Bose A. (1996), India’s Basic Demographic Statistics, B.R. Publishing Corporation, New Del.

3. Census of India, Government of India, Various Reports, New Delhi.

4. Choubey, P.K. (2000), Population Policy in India, Kanishka Publications, New Delhi.

5. Misra, B.D.(1980), An Introduction to the Study of Population, South Asian Publish, New Del

6. Srinivasn, K. (Ed.) (1999), Population Policy and Reproductive Health, Hindustan Publishing

Corporation, New Delhi.

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