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1B.Sc. (Honors School in Economics) Part-I, for Sessions 2014-15, 2015-16 and 2016-17

ORDINANCESB.A.HONOURS SCHOOL IN ECONOMICS

1. (a) The examination for the degree of B.A.Hon's School in Economics shall be held in three parts to be called B.A.Hon's School in Economics Part-I, B.A.Hon's School in Economics Part-II and B.A.Hon's School in Economics Part-III. Each part shall consist of two Semester viz.Semester 1st and 2nd in Part-I, Semester 3rd and 4th in Part-II Semester 5th and 6th in Part-III.The examination for 1st, 3rd, and 5th Semester shall be held in the months of November/December and for 2nd, 4th and 6th Semester in April/May or on such other dates as may be fixed by the Academic Council.

(b) (i) the candidate will be required to pay examination fees as prescribed by the University from time to time

(ii) Last date by which the admission forms and fees for the external examination must reach the Registrar shall be as follows:

Semester Without With late With late With late With lateExamination late fee fee of fee of fee of fee of

Rs. 800/- Rs. 1200/- Rs.5000/- Rs. 10000/-Dec. /Jan. Sep.30 Oct. 15 Oct.21 Oct.31 Nov.10(Odd)April/May(Even) Feb. 28 March. 15 March. 21 Mar. 31 April 15

2. The B.A. Hon's School in Economics Part-I shall be open to any person who has obtained 50% in aggregate in 10+2 examination.

3. Subject to fulfillment of conditions on ordinances 10 and 11:(a) B.A. Hon's School in Economics Part-II shall be open to any person who has

passed B.A. Hon's School in Economics Part-I examination or has cleared at least 50% of total paper prescribed for the first and second semester of B.A. Hon's School in Economics Part-I course.

(b) Admission to B.A. Hon's School in Economics Part-III shall be open to a person who has cleared at least 50% papers of four semesters of earlier two years.

4. (a) The assessment in each Semester of B.A. Hon's School in Economics will be 50% internal and 50% based on end of the Semester theory examination.

(b) In case of papers having Practical Component, the assessment will include:

(i) 20% internal(ii) 30% practical examination to be conducted by an external examiner, and(iii) 50% based on end of the Semester theory examination.

(c) The panel of examiners for conducting practical examinations will be submitted by Head of the Department.

5. The syllabus for the session shall be such as prescribed by the Academic Council from time to time.

6. Eligibility to appear in any end semester examination shall be that a candidate must have attended at least 75 per cent of the delivered lectures/seminars/practical and fulfils the conditions given in ordinance 10. Rules regarding condo nation of shortage of lectures will be followed as


prescribed by the University from time to time. The Department/College shall be required to deliver at least 75% of the total number of lectures prescribed for each paper.

7. The medium of instruction and examination shall be English.8. (i) A candidate is required to secure at least 40 per cent marks both in the external examination

and aggregate of internal and external in each paper taken together in order to qualify in an examination.

(ii) (a) In the event of a candidate failing to secure the requisite 40% marks in terms of clause (i) above, he/she shall be placed under re-appear in that paper(s). Such a candidate would carry the internal assessment marks secured by him for his re-appear examination.

(b) However, if any candidate has secured less than 40% marks in the internal assessment in anyone or more papers and is placed under reappear that paper(s), his marks in the university examination in such paper(s) shall be carried forward for subsequent examination. Such a candidates, at his/her option, can improve his/her internal assessment in such paper(s) by taking only a single test which will consis6t of 50 marks. Such a candidate will have to inform the Department in writing. The test will be scheduled by the department.

Further, if a candidate fails in internal assessment in a paper carrying practical component, the single test mentioned above in 9(ii) (b) for improvement of internal assessment will consist of 20 marks.

In case such a paper is dropped from the course of study as a result of any revision, the department would indicate a suitable substitute paper lieu thereof. Provided further that the entire, B.A. Hon's School in Economics course has to the completed within a total period of five years from the date of his joining first semester.

9 Subject to requirement of attendance and other condition this ordinance:(i) there will be no condition for promotion from odd semester to even semester in an

Academic Session.(ii) for admission to second year of the Course, the candidate must have passed 50% of total

papers of the two semesters of the last year. Similarly for to admission to 3 rd of the course, the candidate should have passed 50% of total papers of four semesters of the earlier two years.

(iii) a candidate placed under reappear in any paper, will be allowed two chances to clear the reappear which shall be availed within consecutive two year/ chances, i.e. to pass in a paper the candidate will have a total of three chances on has regular student and two as reappear candidate.

(iv) the examination of reappear paper of odd semester will be held with regular examination of the odd semester and reappear examination of the even semester will be held with regular examination of even semester. But if a candidate is placed under reappear in the last semester of the course, he will be provided chance to pass the reappear with the examination of the next semester, provided his re-appear of earlier semester does not go beyond that next semester.

10. He shall have to qualify in all the papers prescribed for the, B.A. Hon's School in Economics course within five years from the date he joined the course. In case he fails to do so within the prescribed period as aforesaid, he shall the declared fail. He may however, seek fresh admission to the first semester on merit with the new applicants. It is understood that a 'reappear' or failed candidate shall be allowed to take the examination held as at present or according to the date sheet of the semester examination in which such papers may be adjusted. After completing three years of studies (i.e. six semester course) he shall not admitted to any semester of the same course and will not have any privilege of a regular student.


11. As soon as possible after the completion of each semester, the Registrar shall publish a list of successful candidates showing their result. Each candidate shall be supplied with a card containing his/ her details of marks. The list of successful candidates on the completion of B.A.Honours School in Economics Part-III shall be arranged in three divisions and the division obtained by the candidate will be stated in the degree.12. Successful candidates who obtain 60 per cent or more of the aggregate number of marks in Part-I, Part-II and Part-III examination, taken together, shall be placed in the first division, those who obtain 50 per cent or more what less than 60 per cent marks shall be placed in the second division and those who obtain less than 50% shall be placed in third division. Successful candidates who obtain 75 per cent or more marks in the aggregate will be placed in the First Division with 'Distinction'.13. The grace marks shall be allowed according to the general ordinances relating to "Award of Grace Marks."


SYLLABUS

B.A. (HONOURS SCHOOL) IN ECONOMICS PART-I

(SEMESTER SYSTEM)

Sessions: 2014-15, 2015-16 & 2016-17

Semester-IEco-101: Punjabi Compulsory/

Punjabi Compulsory (Elementary Knowledge)Eco-102: EnglishEco-103: Micro Economics-!Eco-104: Macro Economics-IEco-105: Mathematics-IEco-106: Statistics-I

Semester-IIEco-201: Punjabi Compulsory/

Punjabi Compulsory (Elementary KnowledgeEco-202: Micro Economics-11Eco-203: Macro Economics-IIEco-204: Mathematics-IIEco-205: Statistics-IIEco-206: Introduction to Windows and MS-OfficeEco-207: Comprehensive viva-voce.


SEMESTER-I

ECO-101: Punjabi Compulsory


ECO-101: Punjabi Compulsory (Elementary Knowledge)


ECO-102: ENGLISHMaximum Marks: 100 Teaching Hours 55Internal Assessment: 50 Pass Marks: 40External Assessment: 50 Time Allowed: 3 Hours

INSTRUCTIONS TO THE PAPER-SETTER

All questions are to be compulsory and each question, except questions on précis and translation, will have internal choice in the content of paper, along with grammer, emphasis has to be on the use of vocabulary of subjects like Economics, Political Science and History.

1. Coolie(Novel by Mulak Raj Anand)

(a) One essay-type question out of the given two questions (to write semi-critical answer on the theme, episode story and characters of novel). (10 marks)

(b) Ten short sub-questions, requiring brief answer (to test the student comprehensive of the text of the novel) out of the fifteen given questions. (10 marks)

2. EssayOne essay (narrative, descriptive, reflective, etc.) of about 400 words out of the given five topics. (10 marks)

3. PrecisA suitable heading and precis of the given passage.

(10 marks)4. Vocabulary

Meaning and use of five words, terms out of the given eight words of terms from the text.5. Translation

Translation of one short paragraph of Punjabi or Hindi into English. (10 marks)(For foreign students, in lieu of translation, there will be paragraph writing. The students will be required to attempt one paragraph (of about 150 words) out of the given topics).


ECO-103: MICRO ECONOMICS-I

Maximum Marks: 100 Teaching Hours: 55Internal Assessment: 50 Pass Marks: 40External Assessment: 50 Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTERThe question paper will consist of three sections: A, B and C. Sections A and B will have four

questions in each of the sections of the syllabus and will carry 7½ marks each. Section C will consist of 10 short-answer type questions which will cover the entire syllabus uniformly and will carry 20 marks in all. Each short answer question will carry 2 marks.

INSTRUCTIONS FOR THE CANDIDATESCandidates will be required to attempt two questions from each of the sections A and B of

the question paper and the entire Section C.

SECTION-AMeaning and Scope of Economics. Methods, Laws and Assumptions of Economic

Analysis. Concepts of Economic Statics and Dynamics. Concepts of Equilibrium in Economics : Partial and General Equilibrium.

Consumer Behaviour. Concept and Determinations of Demand. Consumer Behaviour and Law of Demand . Marginal Utility Approach, Indifference Curve Approach; and Revealed Preference Approach. Elasticity of Demand : Concepts, Types and Measurements; Income and Cross Elasticities.

SECTION-BProduction Function: Concepts of Iso-quants and Iso-cost Curves and Producers Equilibrium.

Laws of Production . the Law of Variable Proportions; Laws of Returns to Scale.

Theory of Cost: Types of Cost. The Traditional Theory of Costs : Short-run Costs and Long-run Costs. Modern Theory of Costs; Concept of Short-run and Long-run. Relationship between Average Cost, Marginal Cost and Total Cost: The Relevance of the Shape of Cost Curves in Decision-making.

The Concepts of Revenue: Marginal Revenue, Average Revenue and Total Revenue and their Mutual Relationship. Average and Marginal Revenue Curves under Different Market Forms.

BASIC READINGS

1. Koutsoyiannis, A.: Modern Micro-Economics, MacMillan, 1979

2. Stigler, GJ.: Theory of Price, MacMillan, 1987.3. Dean, J.: Managerial Economics, PHI, 1988.4. Mote, V.L., Paul Samuel & Gupta GS.: Managerial Economics, Tata McGraw Hill Publishing

Company Limited, 1994.5. Henderson, J.M. & Cuandt, R.B.: Micro Economic Theory: A Mathematical Approach,

McGraw Hill, 1971.


ECO-104: MACRO ECONOMICS-I






SECTION-AHistorical Context of Economic Analysis and features of Capitalist Production :

Development of Macro Economics : An Analytical Approach to Macro Economics.National Income: Concept of Production, Depreciation, Intermediate and final

products : Concept and treatment of Depreciation ; Measurement of National Income; An outline of production, Income and Expenditure methods: Estimation of National Income in India: General discussion of methods and difficulties.

National Income as an indication of Welfare: National Income Aggregates : Measuring the inter-relationships. National Income Accounts: Uses of Double Entry Account System : Elementary discussion of input-output matrix : Consolidated National Accounts of India; Structure and classification of Balance of payment Account.

SECTION-BFrom Macro Economics Accounting to Macro Economic Theory; Stocks And Flows;

Equilibrium and Disequilibrium: Statics and Dynamics; Determination of Income and Employment: Classical View.

The simple Keynesian Model of the Income Determination : The Consumption Function : Saving and Investment Function and Determination of Equilibrium level of Income and Output; Shifts in Aggregate Spending Function and Multiplier Theories of Consumption and Investment Spending ; Absolute Income Hypothesis; Relative Income Hypothesis; Permanent Income Hypothesis; Life Cycle Hypothesis. The meaning of Capital and Investment. The decision to Invest; Stocks of Capital and the Rate of Investment; Profits and Acceleration Theory of Investment.

BASIC READINGS1. Amit Bhandan : Macro Economics, MacMillan 1990

2. Edward Shapiro: Macro-Economic Analysis, Indian Ed.

The Macro Economy. A Text- Book View, CULT, Oxford, 1997.3. Dipankar Gupta :

4. Wilfred Beckerman : An Introduction to National Income Analysis, PLBS, 1979.

5. C.S.O National Accounts Statistics: Sources and Methods, 1980.


ECO-105: MATHEMATICS-I






SECTION-AElements of Algebra: Solution of linear, quadratic and simultaneous equation and its

economic applications, partial fractions.

Arithmetic Progression, Geometric Progression and Harmonic Progression and their economic application. Permutation and Combination.

SECTION-BBinomial theorem: Positive integral index, Trigonometry: Trigonometric ratio: Ratio's of

30, 45, 60 and 90, T-ratios of allied angles, multiple angles; addition and subtraction formulae.

Analytical Geometry: Coordinates of a point: distance, section and mid-point formulae: area of a triangle- locus and its equation, the equation of straight line passing through two point. Circle: Standard form: general equation: Circle through three points.

BASIC READINGS1. G.S. Monga . Mathematics and Statistics for Economists2. R.G.D Allen : Mathematical Analysis for Economics3. TaroYamne : Mathematics for Economists.4. A.C.Chiang : Fundamental Methods of Mathematical Economics.


ECO-106: STATISTICS-I






SECTION-AStatistics: definition, functions, scope and limitations. Collection of Data: primary and

secondary data, their uses and limitations. Presentation of Data: tabulation, diagrammatic and graphic presentation.

Measures of Central Tendency: Arithmetic mean, median, mode and partition values. Measures of Dispersion: absolute and relative measures; range, quartile deviation, mean deviation, standard deviation and coefficient of variation (excluding Lorenz Curve).

SECTION-BCorrelation Analysis: meaning, types and significance; Karl Person's correlation

coefficient-discrete variable cases, Spearman's rank correlation and concurrent deviation methods. Regression Analysis: meaning and uses; fitting two variable regression equations by using least squares method.

Interpolation and Extrapolation: meaning and significant uses and limitations. Method of interpolation: Newton’s formula for advancing differences; Binomial expansion method; and Lagrange's method.

BASIC READINGS

1. Chou, Y.L.: Statistical Analysis, Holt Rinehart Winston, 1974.2. Croxton, F.E. and Cowden, D.J. : Applied General Statistics,: Prentice-Hall of India Pvt. Ltd.,

1975.3. Grewal, PS.: Numerical Methods of Statistical Analysis, Sterling Publishers Pvt. Ltd., New

Delhi, 1987.4. Gupta, S.P.: Statistical Methods, Sultan Chand & Sons, New Delhi, 2000.5. Karmel, P.H.: Applied Statistics for Economics, Pitman, London, 1990.6. Klein, L.R.: An Introduction to Econometrics, Prentice Hall, 1974.7. Yule, C.V. and Kendall, M.G.: Introduction of the Theory of Statistics Charles Griffin & Co.

London, 1961.


SEMESTER-II

Eco-201: Punjabi Compulsory


Eco-101: Punjabi Compulsory (Elementary Knowledge)


ECO-202: MICRO ECONOMICS-II






SECTION-APrice-Output Decisions-I: Perfect Competition, Monopoly and Discrimination

Monopoly. Supply Curve of the Firm and Industry under Perfect Competition in the Short-run and Long-run.

Price-Output Decisions-II . Monopolistic Competition (excluding Group Equilibrium), Excess Capacity under Monopolistic Competition. Non-collusive Oligopoly : Cournut Model, Bertrand Model and kinked Demand Curve Model. Collusive Oligopoly: Cartels and Price Leadership Model".

SECTION-BDistribution-I: Meaning of Distribution : Functional versus Personal Distribution.

Marginal Productivity Theory and Adding-up Problem. Modern Theory of Distribution.

Distribution-II:Rent: Meaning of Rent, Ricardian Theory of Rent, Modern Theory of Rent and

concept of Quasi-rent.Wages: Demand for Labour and Supply of Labour, Subsistence Theory, Causes of

Wage Differentials, Nominal and Real wages.Profit: Meaning of Profit, Gross and Net Profit, Normal and Supernormal Profit.

Theories of Profit: Innovations Theory and Risk and Uncertainty Bearing Theories.

BASIC READINGS1. Koutsoyiannis, A. : Modern Micro Economics, Macmillan, 1979.2. Stiglcr, G.J : Theory of Price, Macmillan 1987.3. Dean, J. : Managerial Economics PHI, 1988.4. Mote, V.L., Paul : Managerial Economic, Tata Samuel and Gupta

McGraw Hill Publishing Company Limited, 1994.5. Ilenerson, J.M. : Micro Economic Theory: A

and Quandt. R.E. Mathematical Approach, McGraw Hill. 1971


ECO-203: MACRO ECONOMICS-II






SECTION-AThe income Determination Model including money and interest: Concepts and

functions of money: Classical and Keynesian aggregate supply function.The Basic Classical Model: The quantity theory of money and price level: Classical

model with and without saving and investment. Money and rate of interest: Money and other assets : Demand for money in Classical to Keynesian theory.

The income Determination Model including money and interest: the goods market and money market equilibrium under fixed price level. Changes in two markets equilibrium : Government spending and taxation : IS and LM elasticities and monetary and fiscal policies

SECTION-BNeo-classical Economics: the Philips curve: the natural rate of unemployment:

rational expectations and Lucus on Micro foundations.Business Cycle Theory: Kaldor, Samuelson and Hicks. Inflation: Definition and effects:

Cost push, demand pull and structural theories.

Source of Growth : the Nature of Economic Growth : Meaning and Measurement:Economic Growth Theory : Harrod-Domar : Neoclassical and Kaldor.

BASIC READINGS1. Edward Shapiro, Macroeconomic Analysis, Indian ed.2. W.C. Peterson, Income, Employment and Economic Growth.1. D. Pankar Gupta, The Macro Economy : A textbook, View, CULT, Oxford, 1997.2. Charlies I. Jones, Introduction to Economic Growth, Norton, 1998.3. William H., Branson : Macro Economic Theory and Policy, Indian ed.


ECO-204: MATHEMATICS-II






SECTION-AFunction, Limits and continuity. Differentiation; Rules of differentiation, chain rule,

differentiation of an implicit function, trigonometric function.

Differentiation of logarithmic and exponential function, successive differentiation. Application of derivative in Economics : elasticity of demand, Average-Marginal functions.

SECTION-BDifferentiation ; Partial and total derivative ; homogeneous functions ; Eulers theorem

with two independent variables, its economic application-partial elasticities, competitive and complementary commodities.

Maxima and Minima of one variable, two variables and constraint function and its economic applications.

BASIC READINGS1. GS. Monga, Mathematics and Statistics for Economists.2. R.G.D. Allen, Mathematical Analysis for Economics.3. Taro Yamne, Mathematics for Economists.4. A.C. Chaing, Fundamental Methods of Mathematical Economics.


ECO-205: STATISTICS-II






SECTION-ASkewness, Kurtosis and Moments: meaning and their measures. Probability: classical

and empirical definitions; laws of probability; conditional probability; simple application based on classical and empirical approaches.

Time Series Analysis: meaning and economic importance : components of time series; methods of measuring trend (excluding non-linear trend); methods of measuring seasonal variations.

SECTION-BIndex Numbers: meaning, uses and types; problems and methods of constructing index

numbers ; aggregative and weighted averages; reversal tests of consistency. Chain-base indices and their relative merits.

Sampling: meaning and importance; methods of sampling; non-probability methods and probability methods – simple random, stratified and systematic only. Correlation and Regression : Partial and multiple correlation coefficients (three variable cases only). Fitting of multiple regression by least squares technique (three variable cases only).

BASIC READINGS

1. Chou,Y.L.: Statistical Analysis, Wintson, 1974.2. Croxton, F.E. and Cowden, D.J.: Applied General Statistics of India, Pvt. Ltd., 1974.3. Grewal, P.S.: Numerical Methods of statement Analysis, Sterling Publishers Pvt. Ltd., New

Delhi, 1987.4. Gupta, S.P.: Statistical Methods, Sultan Chand & Sons, New Delhi, 2000.5. Kapur, J.N. and Saxena, H.C.: Mathematical Statistics, S. Chand & Company Ltd., New

Delhi, 1981.6. Karmel, P.H. : Applied Statistics for Economics, Pitman, London, 1990.7. Klein, L.R.: An Introduction to Econometrics, Prentice Hall, 1974.8. Yule, C.V. and Kendall, M.G.: Introduction to the Theory of Statistics, Charles Griffin &

Co. London, 1961.


ECO-206: INTRODUCTION TO WINDOWS AND MS-OFFICE






SECTION-AWindows: Feature of Windows operating system, components of a windows application,

desktop, Start Menu, My Computer, Windows Explorer, Control Panel, Accessories, Display Settings, Installing and Using Pictures.

World Processing: MS-Word : Introduction to Word Processing, Interface, Toolbars, Ruler, Menus, Keyboard Shortcut, Editing a Document, Previewing documents, printing documents, Formatting Documents, Checking the Grammer and spelling, Formatting Via find and replace, Using the Thesaurus, Using Auto Correct, Auto Complete and Auto Text, Word count, Hyphenating, Mail merge, mailing labels Wizards and Templates, Handling Graphics, tables and charts, Converting a word document into various formats.

SECTION-BWorksheets : MS EXCEL- Creating worksheet, entering data into worksheet, heading

information, data, text, dates, alpha numeric, values, saving & quitting worksheet, opening and moving around in an existing worksheet, Toolbars and Menus, Keyboard Shortcuts, Working with single and multiple workbook, Working with formulas & cell referencing, Formatting of worksheet. Simple statistical applications like diagrammatic representation, Mean, Standard deviation: Correlation and regression.

MS-PowerPoint: Creating Slides, Applying transitions and sound effects, setting up side shows, Animation.

REFERENCE1. Mastering Windows 28 BPB Publication.2. Mastering MS Office 97 Professional by Mostey, BPB publication.3. Master in MS Office 2000 Professional Edition by Counter BPB Publication.4. MS Office 2000 Training Guide by Maria, BPB Publication. 5. MS Office 2000 complete by SYBEX.


ECO-207: COMPREHENSIVE VIVA-VOCE

Maximum Marks: 100 Internal Assessment: 50Pass Marks : 40 External Assessment: 5

Like other papers, the assessment of viva-voce examination will be 50% external and 50% internal. The external component of viva-voce examination will be conducted by the committee consisting of the following:1. Two external experts.2. One internal examiner to be nominated by the Head of the Department.3. Head of the Department or his nominee.

The quorum of the committee meeting would comprise one external examiner and one internal examiner.

The internal component of viva-voce examination will be managed by a committee of the three teachers to be nominated by Head of the Department.