ECONOMICS (Honours) FYUGP Syllabus BBMK University

National Education Policy 2020

Department of Economics
Provisional Syllabus for Bachelor of Arts in Economics
Four Year Undergraduate Honours /Research Program under NEP

BBMK University, Dhanbad

ECONOMICS (Honours) FYUGP Syllabus BBMK University
 ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester-wise Titles of the Papers (Major)

Year Sem. CourseCode Title of the Paper Theory/ Credits
Practical

Certificate Course in Fundamentals of Economics

I ECOMJ-1 Principles of Microeconomics Theory 4 Credits

FIRST- ECOMJ-2 Principles of Macroeconomics Theory 4 Credits
YEAR II ECOMJ-3 Indian Economy Theory 4 Credits

Diploma in Economics

ECOMJ-4 Introductory Statistics for Economics Theory 4 Credits

ECOMJ-5 Public Finance Theory 4 Credits
III
SECOND ECOMJ-6 Money & Banking Theory 4 Credits
YEAR ECOMJ-7 Environmental Economics Theory 4 Credits
IV ECOMJ-8 Jharkhand Economy Theory 4 Credits

Minor Papers
Year Semester Paper Title of the Paper Theory Credits
Code
1st I ECO- Introductory Economics Theory 4 Credits
MN-1A
2nd III ECO- Money and Banking Theory 4 Credits
MN-2B

Multidisciplinary Course

ECO-MDC Introductory Economics Theory 3 Credits

ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester I
ECOMJ-1
Principles of Micro Economics

Course Outcome: The Outcome of the paper is to analyse the economic behaviour of individ-
uals, firms and markets. It is mainly to equip the students in a rigorous and comprehensive
understanding with the various aspects of consumer behaviour and Economic Welfare, Firms
behaviour and the theory of imperfect markets and equilibrium in different conditions.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

Unit 1: Introduction
1.1: Subject Matter of Economics
1.2: Nature and Scope of Economics: Micro and Macro Economics; Positive and Normative
Economics;Dynamic and Comparative Static Economics.
1.3: Methodology in Economics: Deductive and Inductive Methods.
1.4: Central Economic Problems: Scarcity and Choice; Production Possibility Curve

Unit 2: Consumer Behavior

2.1 Cardinal Utility Analysis: Total and marginal Utility; Law of Diminishing Marginal
Utility; Law of Equi-Marginal Utility; Consumer’s Equilibrium.
2.2 Ordinal Utility Analysis: Indifference Curves; Budget Constraints; Consumer’s
Equilibrium.
2.3 Price Effect; Substitution Effect (Hicks and Slutsky); Income Effect.
2.4 Income Consumption Curve (ICC}and Price Consumption Curve (PCC}; Normal,
Inferior and Giffen Goods.
2.5 Consumer’s Surplus: Marshall and Hicks.

Unit 3 : Demand Analysis

3.1 Meaning of Demand; Derivation of individual Demand Curve under Cardinal and
Ordinal Utility Analysis; Market demand curves for a product
3.2 Law of Demand; Factors Influencing Demand; Shifts in demand; Increase and
Decrease in demand; Engels’ Curve;
3.3 Elasticity of Demand; Price; Income and Cross Elasticity; Factors affecting
Elasticity of demand

Unit 4: Theory of Production

4.1: Production Function: Short run and Long Run
4.2: Law of Variable Proportions
4.3: Returns to Scale, Economies of Scale
4.4: Cobb-Douglas Production Function: It’s Properties
4.5: Isoquant: Properties; Iso- Cost Line; Producer’s Equilibrium; Expansion Path
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Suggested Readings:

1. Karl E. Case and Ray C Fair, Principles of Economics, Pearson Education Inc.
2. N. Gregory Mankiw, Economics: Principles and Applications, Centage Learning
India Private Limited.
3. Joseph E. Stieglitz and Carl E. Walsh, Economics, W.W. Norman & Company.
4. C. Snyder and W. Nicholson, Fundamentals of Micro Economics,
Cengage Learning, India.
5. B. Douglas Bernheim and Micgael D. Winston, Micro Economics, Tata McGraw
Hill, India.
6. Alfred W. Stonier and Douglas C. Hague, A Textbook of Economic Theory, E L B
S and Longman Gr. Ltd.
7. H.L. Ahuja, Advanced Economic Theory, S. Chand Publication, New Delhi
8. M.L.Seth, Micro Economics, Lakshmi Narayan Publication , Agra.
ECONOMICS (Honours) FYUGP Syllabus BBMK University

SEMESTER-II
ECOMJ-2
Principles of Macro Economics

Couse Outcome: Upon completion Students will develop a solid understanding

of key macroeconomic concepts, including national income accounting, aggre-
gate demand and supply, inflation, unemployment, and economic growth. Stu-
dents will gain the ability to analyze and interpret macroeconomic indicators
such as Gross Domestic Product (GDP), Consumer Price Index (CPI), unem-
ployment rate, and interest rates. They will understand how these indicators re-
flect the overall health of an economy.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

1. Introduction
1.1 What is macroeconomics
1.2 Macroeconomic issues in an economy.

2. National Income Accounting

2.1 Concept of circular flow; concepts of GDP and national income; national income and its
related
aggregates;
2.2 Measurement of national income; nominal and real income; limitations of GDP concept.
2.3 Concept of social accounting. Environmental concerns in national income; Concept of
green accouning.

3. Theory of output and employment

3.1 Say’s law of market and Classical theory of employment: critical analysis and
Keynes’
objections.
3.2 Principle of Effective Demand: Equality and Equilibrium of Aggregate Demand
(AD) and Aggregate Supply (AS); Paradox of Thrift.

Unit 4. Fiscal and Monetary Policy

4.1 Fiscal Policy target and instruments
4.2 Monetary Policy objectives, target and instruments

Suggested Reading-

1. Keynes and Post- Keynesian Economics- R.D. Gupta , Kalyani Publishers, New
Delhi
ECONOMICS (Honours) FYUGP Syllabus BBMK University

2. Macro Economic Theory and Policy - William H. Branson, A.I.T.B.S. Publishers,

New Delhi
3. Macro Economic Analysis - Edward Shapiro, Galgotia Publications, New Delhi
4. Money &Banking : Theory with Indian Banking - T. N .Hajela , Ane Books India
5. Macro Economic Analysis - K.C.Rana&K.N.Verma, Vishal Publishing House,
Jalandhar
6. N, Gregory Mankiw, macroeconomics, Wooth Publishers, 7th edition, 2010.
7. Olivier Blanchaed, macroeconomics, Pearson Education, Inc., 5th
edition, 2009.
8. Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Educations,
Inc., 7th edition, 2011
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester II
ECOMJ-3
Indian Economy

Course Outcome: The course on Indian Economy examines issues relating to the evolution
and performance on all aspects of the Indian economy. It is based on the concepts of develop-
ment economics. The course is fairly exhaustive and is useful for increasing the general
awareness of students on issues affecting the Indian Economy.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

1. Unit 1 Framework of Indian Economy

1.1. Nature, structure and feature of Indian Economy
1.2. Natural Resources- Land, Water, Forest and Minerals resources of India.
1.3. Progress and trend of Indian Growth rate, GDP, PCI

2. Unit 2 Demography
2.1. India’s Population: Size, and Growth Trends, Current Census
2.2. Demographic Transition; Population and Economic Development, Remedies
for Rapid Growth of population
2.3. Problems Faced by Indian Economy-Poverty, Unemployment, Inequality and its so-
lutions.

3. Unit 3 India & Agriculture

3.1. Role of Agriculture in Indian Economy, Trend in Agriculture Production and
Productivity, Cropping Pattern in India.
3.2. Green revolution, Impact of Green Revolution.
3.3. New Agriculture Policy in India, Trend in Agricultural prices.
3.4. The Problem of Food Security, National Food Security Act, PDS system and Its
Impact

4. Unit 4 Indian Industry & Foreign Trade

4.1. Trends in Industrial Production, Problems of Industrial Development in
India.
4.2. The Role and Performance of Small and Cottage Industries in Indian Econ-
omy & Problems Faced by them.
4.3. New Industrial Policy, Appraisal of New Industrial Policy, Privatization and
Disinvestment Policy in India, Corporate Social Responsibility.
4.4. Composition of Foreign Trade, direction of Trade; India’s Balance of Pay-
ment Situation since 1991, Challenges and outlook.
4.5. Foreign Trade Policy, Need for Foreign Capital, Foreign Investment Inflows.
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Suggested Readings-

1. Bhagawati, J (2012): Reform and Economic Transformation in India.

2. Brahmananda, P.R. and Panchmukhi, V.R. (2001) : Development Experience in Indian
Economy: Inter State Perspective, Bookwell , Delhi.
3. Goyal, Ashima (2015): A Concise Handbook of Indian Economy in the 21st cen-
tury.
4. Dantwala, M.L. (1996): Dilemmas of Growth The Indian Experience, OxfordUni-
versity Press, New Delhi.
5. Puri, V.K. and Mishra, S.K. (2018): Indian Economy, Himalaya Publishing
House.(Hindi/English)
6. Dutt, R. and Mahajan, B.D. (2018): Indian Economy, S. Chand Publications,
New Delhi. (Hindi/English)
7. Yojana( Hindi/English)- A Monthly Magazine.
8. Kurukshetra (Hindi/English)- A Monthly Journal of Rural Development.
9. Economic Survey, Govt. of India (Hindi/English)
ECONOMICS (Honours) FYUGP Syllabus BBMK University

SEMESTER-III
ECOMJ-4
Introductory Statistics for Economics

Course Outcome: Students will learn to identify, compile, interpret and analyse quantitative
economic data using statistical methods like mean, median, mode and advanced regression
analysis to assess economic relationships. Students will be provided with the theoretical con-
cepts, tools and methods of statistics.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

1. Unit 1 : Introduction to Statistics

1.1. Definition and Scope of Statistics
1.2. Collection of Data – Primary and Secondary Data ; Methods of collecting
Primary and Secondary Data
1.3. Methods of Collecting Primary Data – Census and Sampling Methods;
Methods of Sampling
1.4. : Classification and Tabulation of Data
1.5. Presentation of Data - Tabular ; Diagrammatic and Graphic

2. Unit 2: Univariate Analysis

2.1. Measures of Central Tendency –Arithmetic Mean,Median,Mode, Geomet-
ric Mean and Harmonic Mean
2.2. Measures of Dispersion – Range, Mean Deviation, Standard
2.3. Deviation, Coefficient of Variation and Quartile Deviation
2.4. Skewness and Kurtosis

3. Unit 3: Bivariate Analysis

3.1. Correlation – Definition; Types; Karl Pearson and Rank Correlation
3.2. Coefficient; Properties of Correlation
3.3. Regression – Lines of Regression; Least Squares Method and
3.4. Interpretation of Regression Coefficients

4. Unit 4: Probability
4.1. Basic Concepts – Random Experiments, Sample Space and Events
4.2. Definition of Probability – Classical, Statistical and Axiomatic
4.3. Rules of Probability – Addition and Multiplication Theorem; Bayes Theorem

Suggested Readings:-

1. Statistics For Economics , N.M. Shah, Arya Publications

ECONOMICS (Honours) FYUGP Syllabus BBMK University

2. Schaum’s Outline of Theory and Problems of Statistics , Murray R. Spiegel, Larry J.

Stephens , Tata McGraw –Hill Edition
3. Basic Statistics , B.L.Agarwal, New Age International Publishers
4. Quantitative Techniques ( Hindi Edition) , Dr. B.N. Gupta , SBPD Publication
5. Business Statistics , V.C. Sinha and Alok Gupta , SPBD Publication
6. Fundamentals of Statistics , S.C. Gupta , Himalaya Publishing House
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester-III
ECOMJ-5
Public Finance

Course Outcome: Considering the increasing role of Government in economy, this course
aims to generate theoretical and empirical understanding of students about different aspect
of Governmental activities and their rationality. It covers fundamental concepts of public
economics, public expenditure, public revenue, and public debt with special reference of In-
dian economy.
For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

Unit 1: Nature and Scope of Public Finance

1.1: Meaning and Scope of Public Finance.
1.2: Distinction between Private and Public Finance; Public goods and Private
goods; Merit goods,Problem of Free Riders
1.3: Principle of Maximum Social Advantage.
1.4: Market Failure; Role of the government.

Unit 2: Public Expenditure

2.1:Meaning, Classification and Principle of Public Expenditure.
2.2:Cannons of Public Expenditure; Effects of Public Expenditure.
2.3:Causes of Growth of Public Expenditure; Trends in Public Expenditure in India.

Unit 3: Taxation
3.1:Taxation: Meaning, Cannons of Taxation; Classification of Taxes.
3.2: Division of tax burden—The Benefit Approach; Ability-to-Pay Approach.
3.3: Impact and Incidence of Taxes, Taxable Capacity, Effects of Taxation
3.4: Characteristics of a good Tax System; Major trends in tax revenue of the Central
and State Governments in India; Defects in Indian Tax System; Tax reforms; GST and
VAT

Unit 4: Public Debt and Financial Administration

4.1:Public Debt: Meaning, Types, Sources and Need.
4.2: Effects of Public Debt; Burden of Public Debt.
4.3: Methods of Debt Redemption.
4.4: The Public Budget—Kinds of budget; Economic and Functional Classification of
Budget; Preparation of Budget in India, Current Budget Analysis

Suggested Readings-

1. S.K. Singh- Lok Vitt( Hindi), S Chand

ECONOMICS (Honours) FYUGP Syllabus BBMK University

2. S.K.Singh- Public Finance in Theory & Practice, S Chand

3. Musgrave R.A. & Musgrave P.B.- Public Finance in theory and Practice Mc
Graw Hill
4. H L Bhatia Public Finance, Vikas Publishing House
5. H L Bhatia Lok Vitt, Vikas Publishing House
6. K P M Sundharam & K K Andley- Public Finance, S Chand
7. Dr B P Tyagi- Public Finance- Jai Prakash Nath & Co.
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester-IV
ECOMJ-6
Money Banking

Course Outcome: Upon competition of the paper Money & Banking students will understand
the role of money and banks in the broader economy. Specially, students will have an under-
standing of the unique role of banks in the financial system. Students will also learn the rel e-
vance of the Reserve Bank and related central banking topics, including the causes, policy
responses, and lessons associated with the current financial market.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

Unit 1: Money

1.1: Money: Meaning and Function: Role of Money in Capitalistic, Socialistic

and Mixed Economies.
1.2: Quantity Theory of Money: Cash Transactions Approach and Cash Balance
Approach.
1.3: Keynesian Theory of Money and Prices.

Unit 2: Central Banking

2.1: Objectives, Functions and Limitations of Central Bank with reference of

RBI.
2.2: Supply of Money: Concept, Components and Aggregates; Money Multiplier.
2.3: Quantitative and Qualitative Methods of Credit Control.
2.4: Objectives, Functions and Limitations of Money Market: Developed and
Developing with special reference to India.

Unit 3: Commercial Banking

3.1: Meaning, Types, Functions and Principles of Commercial Banks.
3.2: Structure and Balance Sheet of a Commercial Bank; Assets and Liabilities.
3.3: Process of Credit Creation.
3.4: Commercial Banking in India: Evaluation of Banking Sector since
Independence; Critical Appraisal of Commercial Banking after
Nationalization; Recent Banking Reforms.

Unit 4: Financial Markets

4.1: Banking System; Bond Market; Foreign Exchange Market; Equity Market –
Concepts.
4.2: Introduction to the Concept of Derivatives.
ECONOMICS (Honours) FYUGP Syllabus BBMK University

4.3: Futures; Options; Call/Put.

Suggested Readings-

1. The Economics of Money , Banking and Financial Markets- Frederic S Mishkin ( Pear-
son)
2. A Treatise on Money- J M Keynes
3. Financial Markets, Banking and Monetary Policy- Thomas D Simpson
4. Monetary Economics- Institutions, Theory and Policy- T.T. Sethi ( S.Chand& Company)
5. Monetary Economics- M.L.Seth Hn. Ed. (Lakshmi Narayan Agarwal, Agra)
6. Financial Stability Report- RBI
7. Monetary Policy Report- RBI
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester-IV
ECOMJ-7
Environmental Economics

Course Outcome: This course is meant to provide students an exposure to approaches in en-
vironmental economics. It also provides theoretical and applied understanding on diverse
frameworks of national and global environmental problems, analytical tools, institutional
and regulatory mechanisms etc.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

1. Unit 1 : Introduction
1.1. Meaning and Scope of Environmental Economics.
1.2. Meaning and characteristics of Environmental goods.
1.3. Renewable and Non-renewable resources.
1.4. Common Property Resources.
1.5. Economic Development & Environment- Two Way Linkage

2. Unit 2: Environmental Externalities

2.1. Externalities and market failure; Negative & Positive Externalities.
2.2. Pareto Optimality and market failure in the presence of externalities.
2.3. Pigouvian taxes and subsidies.
2.4. Sustainable Development- concept and indicators.

3. Unit 3: Environmental Issues

3.1. Environmental Degradation- Land, Forest and Natural Resource degrada-
tion;
3.2. Causes, Effects and Solutions to Environmental Degradation.
3.3. Problems of Pollution- Air & Water Pollution.

4. Unit 4: Environmental Policies

4.1. National Environment Policy, Water & Forest Policy
4.2. WTO & The Environment.
4.3. Climate Change and International Agreements.
4.4. Green GDP; Carbon Foot Print; Environmental Green Accounting.

Suggested Readings-

1. Ganesa murthy, V.S. Environmental Economics in India,

New Centuary Publication
ECONOMICS (Honours) FYUGP Syllabus BBMK University

2. Bhattacharya, R.N. Environmental Economics-An Indian Perspective, Oxford

University Press
3. T.Eugine, Environmental Economics,Vrinda Publication
4. Baumal,W.J. &W.E.Oates, The Theory of Environmental Policy, Cambridge
University Press
5. Charles D. Kolstad, Intermediate Environmental Economics, Oxford University
Press
6. N. Hanley ,Jason F, & Shogren, Environmental Economics in theory and practice,
Macmillan Education UK
7. Awashti N. M, Paryavaran Adhyayan (Hindi), Laxmi Narayana Agarwal,Agra
8. Muhtukrishnan Subhashini, Economics of Environment, Mediamatics
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester IV
ECOMJ- 8
Jharkhand Economy

Course Outcome: This course will provide in-depth knowledge of the Economy of Jharkhand.
The course will be helpful for students to know about their rural economy. Students will get to
know the basic concepts related to rural development & will develop a proper understanding of
the rural situation and the need for rural development in India.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

UNIT 1: Jharkhand Economy and it’s Growth

1.1 Evolution of Jharkhand economy; Structure and basic fea-
tures of Jharkhand’s Economy; Sectoral composition
1.2 Growth in SDP and per capita NSDP since 2000, Public Fi-
nance trends in Jharkhand
1.3 Composition, Production and Productivity in Agriculture in
Jharkhand; Agricultural Growth in Jharkhand.
1.4 Industrial growth in Jharkhand; Main problems of Industrial
development in Jharkhand, Industrial Policy in Jharkhand

UNIT 2: Demographic features of Jharkhand

2.1 Population growth, density, and Regional distribution
2.2 Literacy, Sex Ratio, Composition of work force, rural urban
composition - their present status and change with Special Ref-
erence Census 2001 and 2011; Their Inter district variations
2.3 Tribal population in Jharkhand: main tribes; Demographic fea-
tures of tribal population in the state;

UNIT 3: Poverty and Unemployment in Jharkhand

3.1 Status of poverty in Jharkhand; Major Poverty Alleviation Pro-
grams in Jharkhand and their outcomes, MGNREGA, PMGSY,
NRLM,
3.2 Unemployment in Jharkhand- status and trend in Rural and Urban ar-
eas
3.3 Status of food security in Jharkhand; Food security scheme s;
Child and Women malnutrition in Jharkhand
3.4 Status of Education and Health indicators in Rural and Urban
ECONOMICS (Honours) FYUGP Syllabus BBMK University

areas of Jharkhand- literacy rates, Enrollment Ratios,

Mortality rates, Maternal mortality rates, Child Mortality rates
in Jharkhand etc
3.5 Rural- Urban Migration and Intra state migration in Jharkhand,
Causes of Migration

UNIT 4: Land, forest and environmental issues in Jharkhand

4.1 Land reforms and agrarian Relations
4.2 Tribal and alienation,
4.3 Development induced displacement : impacts and Policy initiatives
4.4 Forest issues and implementation of FRA, 4.5 Environmental
Degradation and policy in the state

Readings:

1. Jharkhand Samanya gyan ; Manish Ranjan

2. Micro Planning of Jharkhand; KunalVikram
3. Jharkhand -Land and People, Raj Kumar and S Ram, Arjun publication
4. Jharkhand- A State Study Guide, Neeraj Kumar Jha, Jeevon-
sons Publications District Gazetteer of Jharkhand , S C Bhat,
Gyan Publishing House
6. Development of Bihar and Jharkhand, Sharat Kumar, Pravin Kumar
Jha, Shipra Publications
 ECONOMICS (Honours) FYUGP Syllabus BBMK University

Minor Papers
Year Semester Paper Title of the Paper Theory Credits
Code
1st I ECO- Introductory Economics Theory 4 Credits
MN-1A
2nd III ECO- Money and Banking Theory 4 Credits
MN-1B
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Semester I
ECN-MN-1A Introductory Economics Credit 4
Course Outcome :- The course exposes students to the basic principles of economic theory. It
emphasizes how economists think, how consumers and firms make decisions and interact in
output and input markets.
For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

Unit 1: Introduction
1.1 Subject Matter and Methods of Economics
1.2 Nature and Scope of Economics
1.3 Central Economic Problems; Production Possibility Curve

Unit 2: Consumer Behavior

2.1: Cardinal Utility Analysis: Total and marginal Utility; Law of Diminishing
Marginal Utility; Law of Equi-marginal Utility, Consumer’s Equilibrium
2.2: Ordinal Utility Analysis: Indifference Curve and its Properties, Budget
Constraints; Consumer’s Equilibrium, Price Effect, Income and Substitution
Effect
2.3: Individual & Market Demand and Supply; Determinants of Individual Demand
and Supply
2.4: Law of Demand and Supply, Shifts in Demand and Supply

Unit 3: Theory of Production

3.1: Production Function: Short Run and Long Run.
3.2: Low of Variable Proportions;
3.3: Returns to Scale: Economies of Scale.
3.4: Isoquant Analysis; Iso-Cost Line; Producer’s Equilibrium

Unit 4: Theory of Costs and Revenue

4.1: Concepts of Costs and their inter-relationship: Short Run and Long Run.
4.2: Concepts of Revenue and their inter-relationship; Break-Even Analysis.
ECONOMICS (Honours) FYUGP Syllabus BBMK University

Suggested Readings-

1. Karl E. Case and Ray C Fair, Principles of Economics, Pearson Education

Inc.
2. N. Gregory Mankiw, Economics: Principles and Applications,
Centage Learning India Private Limited.
3. B. Douglas Bernheim and Micgael D. Winston, Micro Economics,
Tata McGraw Hill, India.
4. Alfred W. Stonier and Douglas C. Hague, A Textbook of Economic
Theory, E L B S and Longman Gr. Ltd.
5. H.L. Ahuja, Advanced Economic Theory, S. Chand Publication, New Delhi
6. M.L.Seth, Micro Economics, Lakshmi Narayan Publication , Agra.
7. Micro economics-Dr. J.P. Mishra Hn. Ed.- Sahitya Bhavan
Publication
8. The Economics of Money , Banking and Financial Markets- Frederic S Mish-
kin ( Pearson)
9. A Treatise on Money- J M Keynes
10. Monetary Economics- Institutions, Theory and Policy- T.T. Sethi ( S.Chand&
Company)
11. Monetary Economics- M.L.Seth Hn. Ed. (Lakshmi Narayan Agarwal, Agra)
12. Financial Stability Report- RBI,Monetary Policy Report- RBI
13. Goyal, Ashima (2015): A Concise Handbook of Indian Economy in the
21st century.
14. Puri, V.K. and Mishra, S.K. (2018): Indian Economy, Himalaya Pub-
lishing House.(Hindi/English)
15. Dutt, R. and Mahajan, B.D. (2018): Indian Economy, S. Chand Publi-
cations, New Delhi. (Hindi/English)
16. Yojana( Hindi/English)- A Monthly Magazine.
17. Kurukshetra (Hindi/English)- A Monthly Journal of Rural Development.
ECONOMICS (Honours) NEP Syllabus BBMK University

Semester-III

ECN-MN-1B Money & Banking Credit 4

Course Outcome:- This course is designed to analyze the impact of money on some of the
economy’s key variables such as interest rates, inflation, and the banking industry. Students
will learn the role of central and commercial banks in the process of money creation and
control.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

Unit 1: Money
1.1 : Money: Meaning and Functions of Money, Kinds of Money
1.2 : Quantity Theory of Money : Cash Transactions Approach and Cash Balance Approach
1.3 : Supply of money- Definitions & Determinants, High Power Money
Unit 2: Inflation
2.1: Definition, Types, Causes and Effects of Inflation
2.2: Measures to Control Inflation
2.3: Concept of Inflationary Gap
Unit 3: Central Banking
3.1: Objectives and Functions of Central Bank with reference to RBI
3.2: Quantitative and Qualitative Methods of Credit Control
Unit 4: Commercial Banking
4.1: Meaning, Types and Functions of Commercial Banks
4.2: Process of Credit Creation
4.3: Critical Evaluation of Commercial Banking after Nationalization and Recent Banking
Reforms

Suggested Readings
1) Money , Banking , International Trade and Public Finance , M.L.Seth, Lakshmi
Narain Agarwal
2) Mudra, Banking and Antrarashtriya Bayapar ,Dr. T.T. Sethi, Lakshmi Narain Agarwal
3) Aurthashastra , Dr.V.C.Sinha and Dr. Pushpa Sinha , SBPD Publications

Multidisciplinary Course
ECONOMICS (Honours) NEP Syllabus BBMK University

ECO-MDC Introductory Economics Theory 3 Credits

Multidisciplinary Course
ECO-MDC
Introductory Economics

Credits 03, Lectures 45, Marks:75(ESE)

Pass Marks: 30
Course Outcome: This course aims to introduce the students to the basic concepts of Microeco-
nomics & Macroeconomics. This course discusses the preliminary concepts associated Money, Bank-
ing, Inflation etc. Students will understand how optimum real-life decisions are taken by individuals
& firms under situations of scarcity in the economy.

For End Semester Examination (ESE 75 marks, 3Hrs Exam): There will be two group of
questions. Group A is compulsory which will contains three questions. Question no. 1 will
be very short answer type of 1 mark each. Question No. 2 & 3 will be short answer type of 5
marks each. Group B will contain descriptive type six question of fifteen marks each, out of
which any four are to answer.

Unit 1: Introduction
1.1 Subject Matter and Methods of Economics
1.2 Nature and Scope of Economics
1.3 Central Economic Problems; Production Possibility Curve

Unit 2: Consumer Behaviour

2.1: Cardinal Utility Analysis: Law of Diminishing Marginal Utility; Law of Equi-
marginal Utility, Consumer’s Equilibrium
2.2: Ordinal Utility Analysis: Indifference Curve and its Properties, Consumer’s
Equilibrium
2.3: Individual & Market Demand and Supply; Determinants of Individual Demand
and Supply
2.4: Law of Demand and Supply, Shifts in Demand and Supply

Unit 3: Money & Inflation

3.1 Money: Meaning and Functions of Money, Role of Money in Capitalistic,
Socialistic & Mixed Economics
3.2 Quantity Theory of Money: Cash Transactions Approach and
Cash Balance Approach
3.3 Definition, Types, Causes, and Effects of Inflation
3.4 Measures to Control Inflation

Unit 4 Banking
4.1: Objectives and Functions of Central Bank
ECONOMICS (Honours) NEP Syllabus BBMK University

4.2: Quantitative and Qualitative Methods of Credit Control

4.3: Meaning, Types, and Functions of Commercial Banks

Suggested Readings-

1. Karl E. Case and Ray C Fair, Principles of Economics, Pearson Education

Inc.
2. N. Gregory Mankiw, Economics: Principles and Applications,
Centage Learning India Private Limited.
3. B. Douglas Bernheim and Micgael D. Winston, Micro Economics,
Tata McGraw Hill, India.
4. Alfred W. Stonier and Douglas C. Hague, A Textbook of Economic
Theory ,E L B S and Longman Gr. Ltd.
5. H.L. Ahuja, Advanced Economic Theory, S. Chand Publication, New Delhi
6. M.L.Seth, Micro Economics, Lakshmi Narayan Publication , Agra.
7. Micro economics-Dr. J.P. Mishra Hn. Ed.- Sahitya Bhavan
Publication
8. The Economics of Money , Banking and Financial Markets- Frederic S Mish-
kin ( Pearson)
9. A Treatise on Money- J M Keynes
10. Monetary Economics- Institutions, Theory and Policy- T.T. Sethi ( S.Chand&