CHOICE BASED CREDIT SYSTEM Syllabus Bachelor of Arts Economics Honours PATNA UNIVERSITY, PATNA Programme Code: Programme Outcomes At the completion of the programme, students will attain the ability to: POL: Avail the opportunity to foeus on policy issues in Economics. PO2: Become an effective and skilled entrepreneur. P03: — Broaden their perspectives and have an understanding of the basic economic concepts. PO4: Understand the evolution of the economic theories and variables involved. POS: Provide valuable knowledge for decision making in investment and formulating policies. Programme Specific Outcomes Upon completion of the programme, the student will attain the ability to: PSOI: Comprehend and suggest various types of solutions to economic problems PSO2: Undertake research through the use of various econometrics models PSO3: Examine the ongoing economic affairs around the globe. PSO4: Formulate employment avenues and be self: reliant, PSOS: Distinguish from a wide role of Economic specialization. PSO6; Understand the Concept of Sustainability and Environmental EconomicsCourse Structure Semester-I SL No. Name of Course ‘Type of L-T-P | Credit Marks Course 7. Introductory Microeconomics CGI 610 | 6 | 100 2 Mathematical Methods in cc2 6-1-0 6 100 Economics 1 3. English Communication AECC-1 21-0 2 100 4. Generic Elective-1 GE-1 6-1-0 6 100 7 Total Credit 20 Semester ~II Sl.No. Name of Course ‘Type of | Credit | Marks: Course 1 Introductory Macroeconomics C03 6-1-0 6 100 2 Mathematical Methods in Economics 2 CC-4 6-1-0 6 100 a Environmental Science AECC-2 2-1-0 2 100 4. Generic Elective-2 GE2 6-1-0 6 100 Total Credit — 20 Semester -III SL. No. Name of Course ‘Type of, L-T-P Credit Marks Course 1 Intermediate Microeconomics 1 ccs 6-1-0 6 100 2. Intermediate Macroeconomics 1 cC-6 6-1-0 6 100 3. ‘Statistical Methods for Economies cC-7 6-1-0 6 100 4 Skill Enhancement Course-1 SEC-1 2-1-0 Zz 100 5. Generic Elective- 3 GE-3 6-1-0 6 100 Total Credit - 26Semester IV (Project/Dissertation) SLNo. Name of Course Typeof | L-1-P | Credit] Marks Course i Intermediate Microeconomics 2 CCR e10 6 | 10 2 Intermediate Macroeconomics 2 CCH 61-0 6 | 100 3 International Economies C10 610 6 | 100 a ‘Skill Enhancement Course- 2 SEC2 20 2 | 100 5 ‘Generic Elective: 4 GE4 610 6 | 100 Total Credit 26 Semester SEN. Name of Course Typeof | 1-T-P | Credit | Marks Course 1 Indian Economy 1 CCl 610 6 100 2 Development Economies COZ 610 6 100 3 Discipline Specific Elective-1 DSE-T 610 6 100 a Discipline Specific Flective-2 DSED 610 6 100 Total Credit — 24 Semester —VI SINo. ‘Name of Course Type of L-T-P | Credit] Marks Course 1 Tndian Eeonomy 2 COS e10 6 | 100 z Public Eeonomies COs 1-0 6 | 100 5 Discipline Specific Flective-3 DSES 610 6 | 100 a. Discipline Specific Elective-4 DSE4 00-6 6 | 100 Total Credit ~24 Total Credits— 140 *LIT/P: Number of classes per week 3|PageDiscipline Specific Elective Course (DSE): 4|Page [Course name 1, Economics of Health and Education 2. Economic History of India (1857-1947) 3. Money and Financial Markets 4. Bar Economy 5. Agricultural Economies 6. Comparative Economie Development (1850-1950) 7. Environmental Economics 8._ Introductory Econometrics Generic Elective (GE): For Economies Students For Other Students (Course name L-T-P ‘Course name L-T-P 1. Introductory Microeconomics 61-0 |‘ T._ Introductory Microeconomics 6-1-0 2. Introductory Macroeconomics 6-1-0 2. Introductory Macroeconomics 6-1-0 3. Indian Economy 1 6-1-0 3. Indian Economy 1 61-0 4. Money and Banking 610 4. Money and Banking 6-10 5. Environmental Economics 6-1-0 5. Environmental Economics 6-1-0 6. Indian Economy II 6-1-0 6, Indian Economy IT 6-1-0 7. Economic History of India 6-1-0 7. Economic History of India 6-10 (1857-1947) (1857-1947) 6-10 8. Public Finance 610 8. Public Finance Skill Enhancement courses (SEC): 1. Managerial Economics 2. Entrepreneurial Skill 3%SEMESTER ~1 CCI: Introductory Microeconomics Course Outcomes After the completion of the course, the students will be able to: COL: Use microeconomic concepts such as saving and investment in their real -life situation. C02: Understand the profit- making techniques used by different businesses or firms C03: Grasp the basic concepis of Microeconomics suchas Law of Demand, Supply and Elasticity CO4: Apply Indifference Curve Analysis in Deriving Demand curve, Income and Substitution Curve CCI: Introductory Microeconomies (Theory: 6 credits) Unit! Topies to be covered No. of Lectures 1 [Exploring the subject matter of Economies: 3 Definition of Economics, Nature and Scope of Economics, Subject Matter of Economics, Micro and Macro Economies, Static and Dynamic Economics, Methods of Study o} Economics, Problem of Sarcity and Choice, Concept of Opportunity Cost, Central Problems of Economy, Production Possibility Curve 2 Supply and Demand: 5 (a) Concept and Types of Demand & Supply, Determinants of Demand/Supply; Demand and Supply Function, Demand/Supply Schedule and Demand/ Supply Curve, Law of Demand and Supply, Demand for Complementary and Substitute Goods, Market versus Individual Demand/ Supply, Shifts in the Demand/Supply Curve, Elasticity of Demand and Supply, determinants, measurement and applications, Static and Dynamic Demand. (b) Theory of Consumer’s Behaviour Cardinal Utility Analysis- Law of Diminishing Marginal Utility and Law of Equi ‘marginal Utility and Ordinal Usility Analysis- Indifference Curve Analysis, Consumer’ ‘Surplus-Meaning, Explanation with example, Assumptions, Measurement & Criticism. 3” The Firm and Market Structure: 20 Nature of Firm, Objective of a firm: Profit maximization versus Sales Maximization, Introduction to basic idea of Equilibrium of a Firm, Condition for Producers’ Equilibrium in Short-Run and Long-Run for Firm and Industry. Concept and Types of Cost and Revenue; Behaviour of Cost and Revenue Curve; Basic idea of Market, Classification of market structure; Characteristies of Different Market Structure along with relevant examples. Role of Time element in Market, Comparison between Perfect Competition and Monopoly. 4” Factor Market: Land and Labour 20 leaning of Production, Factors of Production Land: Meaning and Importance of Land, Peculiarties of Land, Ricardian Theory of Rent Labour: Meaning and peculiarities of Labour-Division of Labour, Derived Demand, Marginal Productivity of Labour, Marginal Revenue Product, Demand for Labour, Backward Bending Supply Curve of Labour, Labour Force Participation, Determination of Waxe Rate in a Perfectly Competitive Labour Market. TOTAL 0 a Spipgested Readings:1. Karl E, Case and Ray C. Fair, Edition,2007. 2. N Gregory Mankiw, Economies: Principles and Applications, India edition by South. Wester, a ptof Cengage Learning, Cengage Learning India Private ‘Limited, 4* edition, 2007. 3. Joseph E. Stiglitzand Carl E, Walsh, Economics, W.W. Norton & Company, Inc., New ‘York,Intemational Student Edition, 4" Edition, 2007, Principles of Economics, Pearson Education Inc., 8° 6|Page oe a o34-9 ad anC2: MATHEMATICAL METHODS IN ECONOMICS - 1 se Outcomes After the completion of the course, the student will be able to: CO1: Apply methods of various mathematical techniques to economic theory in general. C02: Understand and have a clear vision, related to various economic theories by the use of different testable propositions or formulas. CO3: Learn Set and Set Operations. Use Differential and Integral Caleulus and its economic application (CC2: MATHEMATICAL METHODS IN ECONOMICS-I (Theory: 6 eredits) Unit | Topies to be covered No. of Lectures 1 Preliminaries: 14 Logie and proof techniques; Cartesian Products Funetions and their Properties Number System Basic idea of Permutation and Combination Progression: Arithmetic, Geometric and Harmonic Progression. Sets and Set Operations, Ordered pairs and 2 Functions of One Variable a. Graphs; Elementary types of Functions: Quadratic, Polynomial, Power, Exponential and Logarithmic Functions. ', Sequences and Series: Convergence and Divergence, Algebraic Properties and Applications. ¢. Continuous Functions: Characteristies and Properties of Continuous Functions, Convergence and Divergence. 4. Limit of a Function: Method to Evaluate the Limit of Algebraic, Logarithmic and Exponential Functions. Rules of Differentiation: Differentiable Functions; Derivatives of Sum, Difference, Product and Quotient Functions; Second and higher order derivatives; Applications of differentiation in Economics. is Single-Variable Optimization: Conditions for Maxima and Minima; Simple Applications of Maxima and Minima in Economics ~ Maximization of Profit/ ‘Net Revenue, Cost Minimization, 2 TOTAL © Suggested Readings: K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Education Asia: Delhi, 2002. T|Page ov pele (eine Gop -d0a\ Ouray BesE} STER- .ODUCTO! EC MI urse Outco After the completion of the course, the student will be able to: COI: Develop a proper and in- depth understanding of variables dealing with the aggregate economy. CO2: Analyse the basics of National Income Accounting, which will help them to deseribe and analyze the economy in quantitative terms} CO3: Understand the major issues and concems of the econom, poverty, economie growth. CO4: Describe Functions of Money and Determination of Money Supply and Demand. yy such as unemployment, inflation, CC3: INTRODUCTORY MACROECONOMICS (Theory: 6 credits) Unit | Topics to be covered Nowe Lectures Introduction to Macroeconomics and National Income Accounting a ‘The Origin and Roots of Macroeconomics, Need and Relevance of Macroeconomics, Scope of the Subject, Macroeconomic Concerns and Issues, The Role of Govemment in Macro Economy, The Components of Macro Economy, The Methodology to macroeconomics, Circular flow of Income, Concepts of National income: GDP, GNP, NNP, NNP (FO), Personal Income, Private Income and Personal Disposable Income, Approaches to calculate GDP, Nominal and Real GDP, Green GDP, Concept of Social Accounting, Limitations of GDP as ‘a Measure of Social Welfare, Difficulties” in Measuring National Income in Developing Economies, GDP and Black Economy, Concept of Base Year and GDP Index. 2 Money and Banking 20 Functions of Money; Quantity Theory of Money; Fundamental Equations: Keynesian Theory of Money and Prices; Determination of Money Supply and Demand; Credit Creation; Tools of Monetary Policy; Commercial Bank: Concept, History, Funetions, Distribution of Asset and Credit Creation, Central Banking: History, Objective, Function, Relevance, Performance. S ‘The Closed Economy in the Short Run 20 Classical and Keynesian Systems; Simple Classical System of Output and Employment, Keynesian Model of Income Determination, Aggregate Supply and Demand, Fiscal and Monetary Multipliers, Relevance and Limitation of Keynesian Economics to Developing Economy. TOTAL © en-US wile 8|PageSuggested Readings: 1. Dornbusch, Fischer and Startz, Macroeconomics, MeGraw Hill, 11" edition, 2010. 2. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 7* edition, 2010. 3. Olivier Blanchard, Macroeconomics, Pearson Education, Inc., 5" edition, 2009, 4. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2" edition, 2005, 5. Andrew B. Abel and Ben $, Beran 2011. After t col: CC4: MATHEMATICAL METHODS IN ECONOMICS - IL Course Outcomes he completion of the course, the student will be able to: Develop analytical and organizational skills, ike, Macroeconomics, Pearson Education, Inc.,7 edition, C02: Use mathematical techniques to analyze the economic problems and their effects, CO3: Use Differential and Different Equations in Economies. €O4: Use multi-Variable Optimization, (€C4: MATHEMATICAL METHODS IN ECONOMICS — 1 (Theory: 6 credits) Unit | Topics to be covered No. of Lectures 1 _ | Differential and Difference Equations: 3 2. Types, Order and Degree of Differential Equations, Solution of Differential Equations of First Order and First Degree. b._First and Second Order Difference Equations. 2 | Linear Algebra: is 4. Basie Concepts of Vector, Types of Vector, Addition of Vectors, Scalar Product of Two Vectors. , Matrix and Determinants: Types of Matrices, Addition and Subtraction of ‘Matrices, Multiplication of two Matrices, Transpose and Inverse of a Matrix, Solution of Simultaneous Equation Models. ¢. Determinant and its Properties 3 | Functions of Several real Variables: 20 a. Technique of Partial Differentiation; Second Order Partial Derivatives; Cross Partial Derivatives; Applications of Partial Derivatives in Demand, Utility and Production Analysis. b, Technique of Total Differentials; Second order Total Differentials; Derivatives of Implicit Functions . Homogeneous and Homothetic Functions: Properties and Applications, 4] Mulii-Variable Optimization: 20 . Maxima and Minima of a Function of two or more than two Variables — Hessian Determinants . Unconstrained Optimization and Constrained Optimization with Equality Constraints — Use of Lagrange Multiplier. ©. Applications of Unconstrained and Constrained Optimization in Beonomies — Equilibrium of Firm under Pure Competition, Multi Product Monopolist, Multi Plant Monopolist, Discriminating Monopolist, Constrained Utility Maximization and Constrained Profit Maximization. TOTAL 0 9[Page wy, ee hae aA] ze pales Cyto ny BS) aeSuggested Readings: 1K. Sydsaeter and P, Hammond, Mathematics for Economie Analysis, Pearson Education Asia: Delhi, 2002. 2. Monga, G.S. (1972), Delhi. 3. Chiang. A.C. (1988), Fundamental Methods of Mathematical Economics, McGraw Hill, New York. 4 Allen, RGD. (1974), Mathematical Analysis for Economists, Macmillan Press and ELBS, London, 5. Dowling, E-T. (1992), Mathematical Economics 2nd Edition, McGraw Hill, New York. 6. Yamuae, Taro (1975) Mathematics for Economists, Prentice Hall of India, New Delhi, Mathematics and Statistics for Economists, Vikas Publishing Housc, New SE} TER =I INTERMEDIATE, MICROECONOMICS «I Course Outcomes After the completion of the course, the student will be able to: cc: CO1: Frame their budget according to their income and price constraint. C02: Develop knowledge about how the prices are determined in different forms of market Co: Apply Demand and Supply Analysis to responses to Market, Deal with the concept of Consumer Behavior. (CCS: INTERMEDIATE MICROECONOMICS =1 (Theory: 6 credits) Unit | Topics to be covered No. of Lectures 1 | Consumer Theory 20 Preference; Utility; Budget Constraint; Choice; Demand; Income Eifect, Substitution Effect and Price Effect for Normal and Inferior Goods, Slutsky Equation and Hicksian Substitution Effect; Buying and Selling; Choice Under Risk and Intertemporal Choice; Revealed Preference Theory, Weak and Strong Ordering, Deriving Demand Theorem from Revealed Preference Hypothesis and Critical Appraisal of Revealed PreferenceHypothesis, 2 | Production, Costs and Revenue concepts 20 Production with One and Mote variable Inputs; Law of Variable Proportion, Retums to Scale, Optimum Factor Combination, Elasticity of Substitution. Cost Analysis: Types of Cost, Short Run and Long Run Costs; Theory of C Total and Marginal Approach, Cost Curves in the Short Run and Long Run; Revenue Concepts: TR, MR, AR Under Different Market Conditions, Cost, Revenue and Output Relationship in Short and Long Run; Different Economic Decisions, Intemal and External Economies and Diseconomies of Seale. Concept and Assumptions of Production Function with Examples: Characteristics of Linear Homogeneous Production Function and Cobb- Douglas Production Function, and Technological Change, 10|Page3 | Perfect Competition and Monopoly 20 Review of Perfect Competition: Features, Price and Output Determination under Perfect Competition in Short and Long Run, Total and Marginal Approach; Existence and Stability of Equilibrium under Perfect Competition, ‘Monopoly: Features, Conditions for Existence of Monopoly, Price and Output Determination in Monopoly, Measurement of the Degree of Monopoly Power, Pricing with Market Power; Price Discrimination; Government Policies towards Monopoly and Competition. TOTAL 60 Suggested Readings: 1. Hal R. Varian, Intermediate Microeconomics, a Modern Approach, W.W. Norton and Company/Adfiliated East-West Press (India), 8" edition, 2010, The workbook by Varian and Bergstrom may be used for problems. 2. C. Snyder and W. Nicholson, Fundamentals of Microeconomics, Cen; gage Learning (India), 2010, 3. B. Douglas Bernhieim and Michael D. Whinston, Microeconomics, Tata McGraw- Hitl (india), 2009. CC 6: INTERMEDIATE MACROECONOMICS ~ I Course Outcomes After the completion of the course, the student will be able to: COL: Develop a proper and in-depth understanding of variables dealing with the aggregate economy. C02: Understand the basies of National Income Accounting and analyze the economy in quantitative terms, C03: Facilitate the major issues and concems of the economy such as unemployment, ination, poverty economic growth et. CO4: Understand the concept and function of Money and Determination of Money supply and (C6: INTERMEDIATE MACROECONOMICS —1 (Theory: 6 credits) Unit to be covered No. of Lectures 1 | The Closed Economy in the Short Run aD Classical Macroeconomics: Money, Prices and Interest, Keynesian system: money, interest and income, IS-LM Model, policy effects, Analysis of Business cycle: phases of business cycle, Theories of Business Cycle: Hawtrey, Keynes, Samuelson, and Hicks Model, 11[Page 9922 | Inflation, Unemployment and Expectations 20 Inflation; Its Types and Causes; Cost of Inflation, the Fisher Efiect, Unemployment: Concept, Types and Measurement. 3 | Open Economy Models 20 Short-run Open Economy models; Mundell-Fleming Model; Exchange rate determination; Purchasing Power Parity; Asset Market Approach; Dornbusch's Overshooting Model; Monetary Approach to Balance of Payments; International Financial Markets. [TOTAL 60. Suggested Readings: ' Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11" edition, 2010, - N. Gregory Mankiw. Macroeconomics, Worth Publishers, 7" edition, 2010. Olivier Blanchard, Macroeconomics, Pearson Education, Inc., 5" edition, 2009, Steven M. Shefftin, Rational Expectations, Cambridge University Press, 2"edition, 1996 - Andrew B. Abel and Ben 8, Bernanke, Macroeconomics, Pearson Education, Inc.,7" edition, 2011, babe Errol D'Souza, Macroeconomics, Pearson Education, 2009 Paul R. Krugman, Maurice Obstfeld and Education Asia, 9" edition, 2012. ae Mare Melitz, International Economies, Pearson CC 7: Statistical Methods for Economics ‘ourse Outcomes After the completion of the course, the student will be able to: COL: Leam the Basic Concept of statistics and its application Understand Bay's Theorem, Normal Distribution, Poisson Distribution and Credential Understand Elementary Probability Theory including Probability Distribution Apply the methods of calculating covariance and also the concept of correlation coefficient and regression analyses CC 7: Statistical Methods for Economies (Theory: 6 credits) Unit | Topies to be covered No. of Lectures 1 | Module 1: Basie Statistics 25 ‘Measures of Central Tendency: Mean, Median, Mode, Geometric Mean, Harmonic Mean; Measures of Dispersion: Mean Deviation, Stendard Deviation, Moments, Skewness, Kurtosis; Bivariate Frequency Distribution: Simple Correlation and Linear Regression Analysis 2|Page seer Que2 | Module 2: Index Number Number, Tests for Ideal Index Number, Number, Splicing, Applications of Cost of Living Index, Deflation, Concept of Index Number, Laspeyres’s, Paasche’s and Fisher's Ideal Index Problems in Construction of Index 10 3 | Module 3: Probability Theory and Jointly Distributed Variable: Sample spaces and events; Probabili random variable, Distribation-properties, mean and variance. Random ity axioms and properties; Concept of Probability Distributions: Binomial, Poisson and Normal 5 | Module 5: Sampling and Estimation Concept of Sampling, Methods of Sampling, , Principal steps in a sample survey, Concept of Estimation, Properties of estimators, Point and Interval Estimators 10 TOTAL 60 Suggested Readi 1. Jay L. Devore, Probability and Statistics for Engineers, Cenga 2. John E, Freund, Mathematical Statistics, Prentice Hall, 1992. 3. Gupta S.P, Statistical Methods, S. Chand & Sons, New Delhi. 4, Richard J. Larsen and Mortis L. Marx, Applications, Prentice Hall, 2011 5. William G. Cochran, Sampling Techniques, John Wiley, 2007 ge Learning, 2010. Aa Introduction to Mathematical Statistics 11 and its 13|Page Sal wet qn’ > ll sta F320 oir ane 7a CC 8: After the completion of the course, the student will be able to: a CO: Differentiate between Partial and General Equilibrium CO2: Analyse the behavior patterns of different economic agents and market situations ~ C03: Understand Imperfect Competition and Game Theory CO4: —Leam about Externalities and Market Failure iS 1 ‘CC8: INTERMEDIATE MICROECONOMICS — II i (Theory: 6 credits) - Unit Topies to be covered No. of Lectures A 1 Imperfect Markets 20 Imperfect Markets: Common Features, Price and Output Determination in Monopolistic Competition, Concept of Excess Capacity, Non price Competition: Selling cost and Advertising cost plus (Mark-up) Pricing Theory, Oligopoly: Various Approaches to Price and Output Determination, Classical Models of Oligopoly, Duopoly: Cournot Model, Collusive Oligopoly: Cartel and Price Leadership, Basic idea of Kinked Demand Curve. z General Equilibrium, Efficiency and Welfare 10 Equilibrium and Efficiency under Pure Exchange and Production, Overall Efficiency and Welfare Economics, Perfect Market as Efficient Market 3 Market Failure 13 Concept and Causes of Market Failure, Correction of Market Failure, Concept and Conditions of Pareto Optimality, Perfect Competition and Pareto Optimality, Market Failure and Market Imperfections, Market Failure vs, Government Failure, Extemalities in Production and Consumption, Coase Theorem, Public Goods, Semi-public Goods, Private Goods, Merit and Demerit Goods, Markets with Asymmetric Information, Distribution theory (Pricing of Factors) 5 Concepts of Factor Productivity, Marginal Revenue Product (MRP) and Value of Merginal Product (VMP), Pricing of Factors in Perfect and Imperfect Market, Marginal Productivity Theory of Distribution, Euler's Theorem and Product Exhaustion Problem, Some Major Theories of Distribution: Ricardian Theory of Rent, Modern Concept of Rent, Quasi Rent, Classical and Keynesian ‘Theory of Interest, Innovation Theory of Profit, Knight's Theory of Profit. rn TOTAL 60. 14|/Page aac Og oerSuggested Readings: 1. Hal R. Varian, Intermediate Microeconomics, a Modern Approach, W.W. Norton and Company/Affiliated East-West Press (India), 8" edition, 2010. The workbook by Varian and Bergstrom may be used for problems. 2. C. Snyder and W. 2010. 3. B, Douglas Bemheim and Michael D. Whinston, Microeconomics, Tata McGraw- Hill (Indi), 2009. ‘olson, Fundamentals of Microeconomics, Cengage Learning (India), CC 9: INTERMEDIATE, MACROECONOMICS - IT Course Outcomes After the completion of the course, the student will have to: COL: Analyze the long-run dynamic issues like growth and technical progress Describe miczo-foundations of the various aggregates Explain and compare Monetary and Fiscal Policies Lear about Classical, Neo- Classical and Keynesian School of Macro Economie Thought CC9: INTERMEDIATE MACROECONOMICS — IT (Theory: 6 credits) Unit | Topies to be covered No. of Lectures Economic Growth af Dasic concept of Economic growth and its measurement, models ier oeconomie Foundations of Macroeeonomies Classification of growth a. Consumption: The Concept of Consumption Function, Keynesian Consumption Funetion, Kuznet’s Consumption Function, Relative Income ‘Theory of Consumption, b. Investment: Keynesian Theory of Investment, Determinants of Business Fixed Investment, Residential Investment and Inventory Investment, Autonomous and Indueed Determinants of Investment, Marginal Efficiency of Capital, Investment Demand Curve, Concept of Accelerator in Investment 3 | Government and Macroeconomy: Policy Options 20 Concept, Objectives, and Tools of Fiscal and Monetary Policy, Their Role in Economic Growth for Developing Beonomies, Discretionary and Non-Discretionary Fiscal Policy, Working of Monetary policy, Methods of Credit Control: Qualitative and Quantitative. Government Budget Constraint, Budget Deficit, Financing of Budget Deficit and Government Expenditure, Fiscal Deficit and Economic Growth. 15|Page 5 Ger a ype a i) Qa4 | Schools of Macroeconomic Thoughts 10 Some Common tenets of Classical, Keynesian, Monetarist, New-Classical and New-Keynesian TOTAL 0 Suggested Readings; 1. Dombusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11" edition, 2010, 2. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 7* edition, 2010. 3. Olivier Blanchard, Macroeconomics, Pearson Education, inc., 5 edition, 2009, ‘4. Charles L Jones, Introduction to Economic Growth, W.W., Norton & Company, 2edition, 2002. 5. Andrew B, Abel and Ben $. Bemanke, Macroeconomics, Pearson Education, Inc.,7" edition, 2011. CC 10: INTERNATIONAL ECONOMICS Course Outcomes After the completion of the course, the student will be able to: COL: Analyze the issues related to BOP, Exchange rates and Direction of trade, C02: Describe micro-foundations of the various aggregates of International Economics CO3: Explain different International Trade theories CO4: Lear about different International Institutions and their relevance for Indian Economy. ‘CCI0: INTERNATIONAL ECONOMICS (Theory: 6 credits) Unit | Topies to be covered No. of Lectures 1 | introduetion ag Nature and Scope of International Beonomics, Trade Surpluses and Deficits, The Economic Basis of Trade, Terms of Trade, Instruments of Trade Policy and their Impact on Intemational Trade, Trade Barriers (Quantitative and Qualitative): Tariffs, Subsidies and Quotas, Free Trade vs. Protection: Case for Free Trade and Case for Protection, 2 | Theories of International Trade 10 Absolute and Comparative Advantage, Opportunity Cost Theory, Ricardian, Specific-Factors and Heckscher-Ohlin Models, Leontief's. Paradox, Immiserising Growth and the Transfer Problem, 16|Page ced f 5 whic y OF" 4! yy a iv A a Quer ae an3] International Macroeconomie Policy Theories of Exchange Rate Determination, Fixed vs Flexible Exchange Rate, Factors Affecting Exchange Rate, Impact of Exchange Rate on Economy, Market for Foreign Exchange, Review of National Income and Balance of Payment (BOP) Accounting, Components of BOP: Current and Capital Account, Disequilibrium of BOP: Causes and Methods of Correction, Internal and external Balance, 20 4 [International Institutions and issues: WTO: Objectives, Principles and Functions, Preferential Trading Agreements, Trade issues, Trade policy and Welfare with reference to developing economies, IMF, Major trading blocs, World Bank, ADB 15 TOTAL oO Suggested Readings: 1, Paul Krugman, Ma Poliey,Addison-Weslcy (Pearson Education Indian Edition), 9" edition, 2012. 2. Dominick Salvatore, Jnfernational Economics: Trade and Finance, John Wi International Student Edition, 10" edition, 2011, SEMESTER-V. CC 11: Indian Economy — 1 Course Outcomes After the completion of the course, the student will be able to: ‘CCL: Demonstrate the Paradigm shift in CC2: Analyse the rapid changes takin; Education and Health ‘CC3: Grasp the Concept of poverty and unemployment in Indian perspective CC4: Analyse the composition, volume and direction of foreign ade CCH: Ind (Theory Economy=1 6 credits) ‘ley Obstfeld, and Mare Melitz, International Economics: Theory and policy and economic indicators in the post independent India 1g place in India in terms of plan period, human development, Unit | Topies to be covered No. of Lectures 1 _ | Dimensions of Economic Development (@) Major Features of the Economy at Independence. (©) Growth, Distribution and Structural Change with respect to Gender and Regional Contrast, (@) Sustainable Development, (€} Capital Formation and Technological Development, (®) The Experience of Growth & Development During different Plan Periods. 20 17|Page2 [Issues in Indian Eeonomie Policy: B (@) Human Resource Development: Education; Health and Metnutrtion, ©) Population Growth and Economic Development, Demographic Trends and Issues; (c) Unemployment, Poverty and Inequality. (6) Macro-Economic Stabilization: Trade, Fiscal and Monetary Policy sues. (©) Recent Budget- Analysis and Impact. (9 Infrastructure Development in India with special reference to Railway and Civil Aviation, 3] India’s foreign trade: 15 Volume, Composition, Direction, Trend and EXIM Policy Assessment, India's Balance of Payment, Globalisation and its Impact on Indian Economy, WTO and India, TOTAL 60 Suggested Readings: 1. Jean Dreze and Amartya Sea, 2013. An Uncertain Glory: India and its Contradictions, PrincetonUniversity Press, 2. Pulapre Belaktishnan, 2007, The Recovery of India: Economic Growth in the Nehru Era, Economic and Political Weekly, Novemiber. 3. Rakesh Mohan, 2008, ~Growth Record of Indian Economy: 1950-2008. A Story of Sustained Savings and Investment, Economic and Political Weekly, May. 4 SI. Shety, 2007, India's Savings Performance since the Advent of Planing, in Miegfshna and A. Vaidyanathan, editors, Institutions and Markets in India's Development 5. Himanshu, 2010, Towards New Poverty Lines for India, Economic and Political Weekly, January. 6. Jean Dreze and Angus Deaton, 2009, -Food and Nutrition in India: Facts and Interpretations, Economie and Political Weekly, February, 7. Himanst. 2011, -Employment Trends in India: A Re-examination, Economic and Political Weekly, Septeraber. 8. Ramm Baru ct al, 2010, “Inequites in Acceas to Health Services in India: Caste, Class and Region, Economic and Political Weekly, September. 9% Geeta G. Kingdom, 2007, ~The Progress of School Education in India, Oxford Review of Economie Policy. 10. 1B. Tilak, 2007, Post Elementary Education, Poverty and Development in India, International Journal of Educational Development. 11. T: Dyson, 2008, India's Demogssphic Transition and its Consequences for Development in Una Kapila, editor, indian Economy Since Independence, 19" edition, Academic Foundation, 12, Kaushik Basu, 2009, -China and India: kdiosyneratic Paths to High Growth, Economic and Political Weekly, September, K James, 2008, -Glorifying Malthus: Current Debate on Demographic Dividend in India, Feonomic and Political Weekty, June. 13. Rectika Khera, 2011, India's Public Distribution System: Uniisation and Impact Journal of Development Studies. 14. Anicuddha Krishna and Devendra Bajpai, 2011, Lineal Spread and Radial Dissipation: Experiencing Growth in Rural India, 1992-2005, Economic and Political Weekly, September. 15, Kaushik Basu and A, Macrtens, eds, 2013, Oxford Companion to Economics, Oxford University Press, 18|Page ae Hate os SE s ee Beda aCC 12: Development Economies se Outcome After the completion of the course, the student will be able to: CO1: Understand the different concepts of development and evaluate the gross national growth experience, €02: Analyze the connection between growth and inequality and identify the rote of state in economic development C03: Lear about the concept of poverty and its measurement and the connection between inequality and poverty CO4: Understand development in global perspective, CC 12: Development Beonomics (Theory: 6 credits) Unit | Topies to be covered No. of Lectures |__| Growth and Development: 20 Concept of Economie Growth, Economic Development, Economie Progress and Economic Welfare Historical Experience of Development (Stages of Growth; Late Industrialization; Structural Analysis) Poverty and Inequality (conceptual issues and measurement; capabilities and entitlements, policies for poverty reduction) State and the Market (market failure; government failure; conflict versus complementarity) Resources B Capital and Technical Progress (Role of capital, Capital Output Ratio, Resource Allocation; Level and Patter of Capital Formation, Pattern of Technical Progress, Technology and Unemployment, Obsolescence, Choice of Techniques) Labour and Employment Tssue (Population Growth, Demographic Transition; Human Resource Development, Surplus Labour, Open and Disguised Unemployment, Informal Sector;Rural-Urban Migration). ‘The Environment and Sustainable Development; Non-Renewable Resources Globalization and Development: Trade Policy Debate (Export Promotion 20 and Import Substitution, WTO- structure and functions; WTO and LDCs) Foreign Capital (role and limitations, MNCs, Third World debt crisis, private foreign investment, IMF and World Bank) Inclusive Growth-Reasons, Issues & Challenges of financial Inclusion in India, 3 TOTAL a Sugg 1 2 Ey 4. 5, 19|P ested Readings: Michael P. Todaro, Economic Development, International Student (Sixth) Edition, Addition -Wesley Debraj Ray, Development Economies, OUP Gerald M. Meir, Leading Issues in Economie Development, Sixth Edition, OUP AP. Thirlwall, Economics of Development, Palgrave Macmillan, 9" Edition. MLL-Tanejade RM. Myer, Economics of Development &Planning, Vishal Publishing Co. Jalandbar- Delhi. i wdc (barca st Pham i wot al Vv Bee oF Bere gnr”SEMESTER -VI CC 13: Indian Economy — IT se mi After the completion of the course, the student will be able to: COI: Examine sector-specific policies and their impact in shaping trends in key economic indicators in India, (C02: Evaluate the Indian Empirical Evidence CO3: Analyze the rapid Economic changes taking place in the economy CO4: Lear about the role of agriculture and industry in Economic development and their performance in Indian perspective, CC 13: Indian Eeonomy-I (Theory: 6 credits) Unit | Topics to be covered No. of Lectures 1 | Indian Agriculture: 25 Importance of Agriculture in Indian Economy, Problems in Indian Agriculture and their Possible Solutions, Efforts by Govemment for Upliftment of Indian Agriculture, Trends in Agricultural Growth and Productivity; Land Reforms; Green and Rainbow Revolution; Agricultural Marketing; Agricultural Price Policy; Food Security in India: Status, Prospect and Problem, 2 | Indian Industry and Services 5 (@) Importance of Small -Seale Industries in India, Problems, Remedies, Industrial Sickness in India, Some Issues Related to Private Sector, Different Industrial Policies — 19561980 & 1991, Labour Relations and Social Security, (b) Service Sector: Growth and Present State of IT and Banking. 3” | Bihar Economy: 20 Agricultural Performance: Major Challenges and Causes of Backwardness in Agriculture; Industrial backwardness- Recent Policies and Initiatives, Sources of Growth of Service Sectors - Trade, Transport, Tourism, Information Technology, Construction. Migration-Causes, Factors Affecting Migration, Its effects on Population Growth and Urbanisation, Human Resources: Emerging Issues, Dimension and Impact of ration,Unemployment- Problems & Remedies 60 Suggested Readings: Shankar Acharya, 2010, Macroeconomic Performance and Policies 2000-8,() in Shankar Acharya and Rakesh Mohan, editors, India’s Economy: Performances and Challenges: Development andParticipation, Oxford University Press. 2. Rakesh Mohan, 2010, -India‘s Financial Sector and Monetary Policy Reforms, in Shankar Acharya and Rakesh Mohan, editors, India's Economy: Performances and Challenges: Development and Participation, Oxford University Press. 3. Pulapre Balakrishnan, Ramesh Golait and Pankaj Kumar, 2008, Agricultural Growth in India Since 1991, RBI DEAP Study no. 27. 4. Kunal Sen, 2010, -Trade, Foreign Direct Investment and Industrial Transformation in India, in Premachandra Athukorala, editor, The Rise of Asia, Routledge. 5. A. Ahsan, C. Pages and T. Roy, 2008, -Legislation, Enforcement and Adjudication in Indian Shes wes 0b ate , "ebLabour Markets: Origins, Consequences and the Way Forward, in D, Mazumdar and 8. Sarkar, citors, Globalization, Labour Marketsand Inequality in Indi, Routledge. 6. Dipak Mazumdar and Sandeep Sarkar, 2009, ~The Employment Problem ig India and the Phenomenon of the Missing Middle, Indian Journal of Labour Economies, 7 ¥ Dennis Rajakunar, 2011, Size and Growth of Private Corporate Sector Indian ‘Manufacturing, Economic and Political Weekly, April. CC14: PUBLIC ECONOMICS 01 After the completion of the course, the student will be able to: ) CCL: Understand the importance of Public Finance CC2: To understand the implications of Fiscal policy CC%: To analyse the trends and composition of Public Expenditure in India CC4: To understand the importance of Externalities, CCI4: PUBLIC ECONOMICS (Theory: 6 credits) Unit | Topies to be covered No. of Lectures 1 1. Public Economie Theory 30 . Nature and Scope of Public Finance ». Fiscal Functions: An Overview, Principle of Maximum Social Advantage © Public Goods: Meaning, Characteristics, Distinction between Pure Public Good and Privatc Good, Merit Goods, Problems of Public Goods:The Free Rider Problem and its Solution, 4 Extemalities: The Problem and its Solutions, Taxes versus Regulation, Property Rights, The Coase Theorem, Market Failure: Causes and Remedies, Pareto Efficiency © Taxation: Its Economic Effects, Dead Weight Loss and Distortion, Tax Incidence, Optimal Taxation, Efficiency and Equity Considerations a 2 Tndian Public Finances 30 a. The Indian Tax System: Structure and Reforms, b. Public Expenditure: Meaning, its Classification, Pattern and Growth of Public Expenditure in India, © Concept, Types and Components of Budget, various types of Deficits and its Trend in India, Public Debt and subsidies in Indian Economy 4. Objective and Importance of Fiscal Policy, Fiscal Federalism in India TOTAL 66, Suggested Readings: yi Hindriks, G. Myles: Intermediate Public Economics, MIT Press, 2006, 2. H-Rosen, T.Gayer: Public Finance, 9 edition, McGraw-Hill/Irwin, 2009, 21|Page3. Joseph B. Stiglitz, Economics of the Public ‘Sector, W.W. Norton & Company, 3" edition, 2000 4. RA Musgraveand PB, Musgrave, Public Finance in Theory & Practice, McGraw Hill Publications, 5 edition, 1989 5. Harvey Rosen, Public Finance, McGraw Hill Publications, 7 edition, 2005, & A-Ghosh and C. Ghosh: Public Finance, PHI Learning, 2014, % Shankar Acharye, 2005 — Thirty Years of Tax Reform in India, Economie and Political Weekly, May 14-20, 8. Report of the 14" Finance Commission, 2015-20, 9. Economic Survey, Government of India (Latest) 10. State Finances: A Study of Budgets, Reserve Bank of India (Latest), GE 1: Introductory Microeconomics Course Outcomes After the completion of the course, the student will be able to: COI: Understand the basic concepts of Microeconomics €02: Understand how markets work CO3 Understand the basie tools of analyzing Microeconomic phenomenon C04: Understand the various market structures, (Theory: 6 credits) Unit | Topies to be covered No. of Lectures 1 Exploring the Subject Matter of Economics 19 Why study Economics? Scope and methods of Economics; the Economic problem: Scarcity and Choice; the question of what to produce, how to produce and how to distribute Output; science of economies; the basic fompetitive model; prices, property rights and profits; incentives and information; rationing: opportunity sets; economic systems; reading and working with graphs, 2 Supply and Demand: How Markets Work, Markets and Welfare 10 Markets and competition; determinants of individual demand/supply; demand/supply schedule and demand/supply curve; market versus individual demand/supply; shifis in the demand/supply curve, demand and supply together; how prices allocate resources; Elasticity and its application; controls Sun pees: taxes and the costs of taxation; Consumer Surplus; Producer ‘Surplus and the efficiency of the markets. 3° | The Households 10 Zhe ‘consumption decision - budget constraint, consumption and income’price changes, demand for all other goods and price changes; description of preferences (representing preferences ‘with indiffercs GUNES) Properties of indifference curves; consumer's optimum choives income and substitution effects; labour supply and savings decision choles ‘between leisure and consumption [4 ___| The Firm and Perfect Market Structure 10 ws Gre =, yor Ga VV el” ANY 2|Pagele Behaviour of profit maximizing firms and the production process; show Tun Costs and output decisions; costs and output in the long run, 5 | Imperfect Market Structure 10 ‘Monopoly and anti-trust policy; government policies towards competition; imperfect competition, 6 | Input Markets 10 Labour and Land Markets - basic concepts (derived demand, productivity of an input, marginal productivity of labour, marginal revenue Product); demand for labour; input demand curves; shifts in input demand curves; competitive labour markets; and labour markets and public policy TOTAL 60 Suggested Readings: 1, Karl E, Case and Ray C. Fait, Principles of Economics, Pearson Education Inc. » 8"Edition, 2007. 2. N, Gregory Mankiw, Economics: Principles and Applications India edition by South Western, a part of Cengage Learning, Cengage Learning India Private Limited, 4" edition, 2007, 5 Joseph B. Stiglitz and Carl E. Walsh, Economics, W.W. Norton & Company, Iac,, New York, International Student Edition, 4" Edition, 2007. GE 2: Introductory Macroeconomics Course Outcomes After the completion of the course, the student will be able to: COL: Differentiate between various concepts of GDP accounting C02: Understand the various concepts of Money CO3: Analyse the impacts of inflation (CO4: Leam the working of closed economy in short run GE2: Introductory Macroeconomics ; (Theory: 6 eredits) Unit | Topics to be covered No. of Lectures Introduction to Macroeconomics and National Income Accounting i Basic issues studied in macroeconomics; measurement of gross domestic product; income, expenditure and the circular flow; real versus nominal GDP; price indices; national income accounting for an open economy; balance of payments:current and capital accounts. 2 15 Money Functions of money; quantity theory of money; determination of money supply and demand; credit creation; tools of monetary policy. 3 Inflation is Inflation and its social costs; hyperinflation, Quit ave? 23|Page4 | The Closed Economy in the Short Run 5 Classical and Keynesian Systems; simple Keynesian model of joome determination; IS-LM model; fiscal and monetary multpti t TOTAL 60. Suggested Readings : 1. Dombusch, Fischer end Startz, Macroeconomics, McGraw Hill, 11° edition, 2010, 2. N. Gregory Mankiw. Macroeconomics, Worth Publishers, * dition, 2010. 3; Olivier Blanchard, Macroeconomics, Pearson Education, ine. 8 edition, 2009, 4. Richord T. Froyen, Macroeconomics, Pearson Education Asie, 2 edition, 2005, 5. Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Education, Ine.,7* edition, 2011 » Errol D'Souza, Macroeconomics, Pearson Education, 2000, + Paul R. Krugman, Maurice Obstfeld and Mare Melitz, International Economics, PearsonEducation Asia, 9" edition, 2012, 2 GE 3: Indian Economy-1 Course Outcomes Alter the completion of the course, the student wil COL: Demonstrate the Paradigm shift in policy a (CO2: Analyse the rapid changes taking place i Education and Health C03: Grasp the Concept of poverty and unemployment in Indian perspective (C04: Analyse the composition volume and direction of foreign trade GE3: Indian Economy-1 (Theory: 6 credits) Unit | Topies to be covered No. of Lectures 1 Economie Development since Independence a Major features of the economy at independence; growth and development under different policy regimes—goals, constraints, institutions and policyfiamework; an assessment of performance—sustainability and regional contrasts; structural change, savings and investment. 2 Population and Human Development 15 Demographic trends and issues; education; health and malnutit 3 Growth and Distribution i5 Trends and policies in poverty; inequality and unemployment. 4 International comparison: Britain, USA, German , Japan, USSR, China Is fa TOTAL oO | 24|PageSuggested Readings: |. Jean Dreze and Amartya Sen, 2013. An Uncertain Glory: India and its Contradictions, Princeton University Press 2. Pulapre Balakrishnan, 2007, The Recovery of India: Economie Growth in the Nehru Era, Economic and Political Weekly, November. 3. Rakesh Mohan, 2008, -Growth Record of Indian Economy: 1950-2008, A Story of Sustained Savings and Investment, Economie and Political Weekly, May. 4. SLL Shetty, 2007, India's Savings Performance since the Adveat of| Planning, in XL. Krishna and A. Vaidyanathan, editors, Institutions and Markets in nde Development. 5. Himanshs, 2010, “Towards New Poverty Lines for India, Eeonsmie wy Political Weekly, January. § Jean Dreze and Angus Deaton, 2009, -Food and Nutrition in India: Faets and i Interpretations, Economie and Political Weekly, February. ' 7 Himanshu, 2011, -Employment Trends in India: A Re-examination, Economie and Political Weekly, September. 8. Rema Baru et al, 2010, -Inequiies in Access to Health Services in India: Caste, Class and Region, Economic and Political Weekly, September. 9. Geeta G. Kingdom, 2007, -The Progress of School Education in India, Oxford Review of Economic Policy. 10.4.BG, Tilak, 2007, -Post Elementary Education, Poverty and Development in India, Intemational Journal of Educational Development. 11. T. Dyson, 2008, -India's Demographic Transition and its Consequences for Development in Uma Kapila, editor, Indian Economy Since Independence’ 19% edition, Academic Foundation. 12. Kaushik Basu, 2009, -China and India: Idiosyncratic Paths to High Growth, Economic and Political Weekly, September. 1S. James, 2008, -Glorifying Malthus: Current Debate on Demographic Dividend in India, Economic and Political Weekly, June, 14. Reetika Khera, 2011, -India's Public Distribution System: Utilisation and Impact Journal of Development Studies, 15. Aniruddha Krishna and Devendra Bajpai, 2011, -Lineal Spread and Radial Dissipatio Experiencing Growth in Rural India, 1992-2005, Economic and Political Weekly, September. 16. Kaushik Basu and A. Macrtens, eds., 2013, Oxford Companion to Economies, Oxford University Press, 25|PageGE4: Money and Banking Course Outcomes After the completion of the course, the student will be able to: COL: Analyse the different concepts of Money (CO2: Understand the working of financial markets (COS: Differentiate between Capital and Money Market (CO4: Explain the working of banking system (GE&: Money and Banking (Theory: eredits) Unit | Topics to be covered No. of Lectures 1 “Money 5 Concept, functions, measurement; theories of money supply determination 2 Financial Institutions, Markets, Instruments and Financial Innovations 10 a. Role of Financial markets and institutions; problem of asymmetric information — adverse selection and moral hazard; financial crises. b. Money and capital markets: organization, structure and reforms inlndia: tole of financial derivatives and other innovations, 3 Interest Rates Determination; sources of interest rate differentials; theories of term structure of interest rates; interest rates in India 4 Banking System B a, Objectives and Functions. , Indian banking system: Changing role and structure; banking sector reforms. 3 Central Banking and Monetary Policy 20 Functions, Objectives, targets, indicators and instruments of monetary control; ‘monetary management in an open economy, current monetary policy of India, 2 TOTAL 60 Suggested Readings |. FS, Mishkin and S. G. Eakins, Financial Markets and Institutions, Pearson Education, 6*edition 2009, 2. F. J. Fabozzi, F. Modigliani, F. J. Jones, M. G. Ferri, Foundations of Financial Marketsand Institutions, Pearson Education, 3" edition, 2009, 3. L. M. Bhole and J. Mahukud, Financial Institutions and Markets, Tata McGraw Hill, Sedition, 2011. 4. M.Y. Khan, Indian Financial System, Tata McGraw Hill, * edition, 2011 5. Various latest issues of R.B.L Bulletins, Annual Reports, Reports on Currency and Finance and Reports of the Working Group, IMF Staff Papers. an rset Ma SIGE 5: Environmental Economies Course Outcomes After the completion of the course, the student will be able to: COL: Analyse key environmental issues and problems ‘C02: Understand the design and implementation of environmental policy (©03: Understand the basic concept of susiainable development C4: Differentiate between the various environmental valuation method GES: Environmental Economics t (Theory: credits) Unit | Topics to be covered No. of Lectures Introduction is Key environmental issues and problems, economic wey of | thinking about ese problems, basic eoncepts from economics; Pareto optimally and ‘market failure in the presence of extemalites; property rights and eller approaches, z She Design and Implementation of Environmental Policy 15 Overview, Pigouvion taxes and effluent fees, tradable permits, implementation of environmental policies in India and international Srperience transboundary environmental problems; economics of climate change Environmental Valuation Methods and Applications 5 Neluation of non-market goods and services~theory and practic; etsurement methods; cost-benefit analysis of environmental policies and regulations, 4 Sustainable Development 5 Concepts; measurement; perspectives from Indian experience TOTAL 0 Suggested Readings: 1 Roger Perman, Yue Ma, Michael Common, David Maddison and James McGilvray, “Natural Resource and Environmental Economics”, Pearson Education/Addison Wesley, 4* edition, 2011. 2. Chatles Kolstad, “Intermediate Environmental Economics”, Oxford University Press, edition, 2010. 3. Robert N, Stavins (ed), “Economics of the Environment: Selected Readings”, W. W. Norton,6" edition, 2012. ‘4 Robert Solow, “An Almost Practical Step toward Sustainability,” Resources for the Future 40th Anniversary Lecture, 1992, 5. Kenneth Arrow ct al. “Are We Consuming Too Much?” loumal of Economic Perspectives, 18(3): 147-172, 2004, 6. IPCC (Intergovernmental Panel on Climate Change), Fifth Assessment Report (forthcoming 2014), wikia rap te WGirs Hes a “vega les “O->a GE 6: Indian Economy-II i After the completion of the course, the student will be able toz eeifie policies and their impact in shaping trends in key economic indicators in = (C02; Evaluate the Indian Empirical evidence Goa, Auslyze the rapid Economie changes taking place inthe economy y SOK Leam about the role of agriculture and industry in Economie development and their performance in Indian perspective. GE 6: Indian Eeonomy-It . al (Theory: 6 eredits) Unit | Topics to be covered No. of A Lectures a 1 Macroeconomic Policies and Their Impact g Fiscal Policy; trade and investment policy; financial and monetary policies; Tabour regulation sy 2 Policies and Performance in Agriculture 15 Growth; prodetivity; agrarian structure and technology; capital formation; trade; pricing and procurement, 3 Policies and Performance in Industry 15 5 Growth; productivity; diversification; small seale industries; public sector competition policy: foreign investment. - 4 ‘Trends and performances in Service Sector 5 TOTAL 60 Suggested Readings: nq 1 Shankar “Acharya, 2010, -Macrocconomic Performance and Policies 2000-8, in Guankar Acharya and Rakesh Moban, editors, India’s Economy: Performnrns and Challenges: Development and Participation, Oxford University Press, 2 Rakesh Mohan, 2010, -India's Financial Seetor and Monetary Policy Reforms, in Shankar Doharya and Rakesh Mohan, editors, India's Economy: Performences. and Chaltenges: FE Development and Participation, Oxford University Press. 3 Pulapre Balakrishnan, Ramesh Golait and Pankaj Kumar, 2008, ~A ricultural Growth FE in India Since 1991, RBIDEAP Study no. 27. ‘4 Kunal Seo, 2010, -Trade, Foreign Direct Investment and Industrial Transformation in India, in pS Premachandra Ataukorala, editor, The Rise of Asia, Rutledge. 5. A Ahsan, C, Pages and T. Roy, 2008, -Legislation, Enforcement and Adjudication in Indian 5 Labour Markets: Origins, Consequences andthe Way Forward, in D. Masundar nod Sarkar, Siltors, Globalization, Labour Marketsand Inequality in India, Routledge, e & Dipak Mazumalar and Sandeep Sarkar, 2009, -The Fmployment Problem in India and the Phenomenon of the Missing Middle, Indian Journal of Labour Econsean 28|Page oe orl 73 Se eSGE 7: Economic History of India (1857-1947) Course Outcomes Affer the completion of the course, the student will be able to: COL: Understand the Background of Colonial India (C02: Gauge the macro trends of various economic parameters C03: Understand the Agrarian structure of Indian Economy - C04: Learn about the infrastructure of Indian economy GE 7: Economic History of India (1857-1947) (Theory: 6 credits) ' Unie | Topies to be covered No. of Lectures 1 Introduetion: Colonial India: Background and Introduction o n Overview of colonial economy. 2 Macro Trends 10 National Income; population; occupational structure. = 3 Agriculture 15 Agrarian structure and land relations; agricultural markets and institutions — credit,commerce and technology; trends in performance and productivity, famines, 4 | Railways and Industry is Railways; the de-industrialization debate; evolution of entrepreneurial and Industrial structure; nature of industrialization in the interwar period; constraints to industrial breakthrough: labor relations Economy and State in the Imperial Context 5 ‘The imperial priorities and the Indian economy; drain of wealth; International trade, capital flows and the colonial economy — changes and continuities; government and fiscal policy. TOTAL faa iH Suggested Readings: 1. Lakshmi Subramanian, “History of India 1707-1857", Orient Blackswan, 2010, Chapter 4. 2. Sumit Guha, 1991, Mortality decline in early 20" century India‘, Indian Economic and Social History Review (IESHR), pp 371-74 and 385-87. rthankar Roy, The Economic History of India 1857-1947, Oxford University Press, 3rd dition, 2011 7 4. 1. Krishnamurty, Occupational Structure, Dharma Kumar (editor), The Cambridge Economic History of India, Vol. Il, (henceforth referred to as CEH), 2005, Chapter as 5. Iifan Habib, Indian Economy 1858-1914, A People's History of India, Vol28, Trlika, 2006. - 6. Ira Klein, 1984, —When Rains Fail: Famine relief and morality in British India, TESHR 21. = 7. Jean Dreze, Famine Prevention in India in Dreze and Sen (eds.) Political Economy of Hunger, 29|Page wpe 5 beret ° eitWIDER Studies in Devel 8. John Hurd, Railways, 9. Rajat Ray (ed.), 10. AK Bagchi, ~ Implications, Journal of Development Studies, 1976. 11. MD Morris, Emergence of an Industial Labour Force in India, 11, Summary and Conclusions, [3 KN. Chaudhuri, Foreign Trade and Balance of Paymenis, 13. BRR Tomlison, 1975, India and the British Ean 14. Dharma Kumar, The Fiscal System, CEHI, Chapter 12 15. Basudev Chatterjee, Trade, Tariffs and Empire, OUP 1992, Epilogue. i lopment Economics, 1990, pp.13- 35 CEHL, Chapter 8, pp.737-761 Entrepreneurship and Industry in India, 1994, GE 8: Public Finance Course Outcomes ‘he student will be able finance plications of fiscal policy and composition of public expenditure in India Visualize the importance of Externalities, Alter the completion of the course, CCI: Leam the concept of Publi¢ C2: Understand the im CCS: Analyse the tends cca: Deindustrialization in India in the Nineteenth Century: Some Theoretical OUP 1965, Chapter CEHI, Chapter 10, 1880-1935, IESHR, Vol-XIL. GE 8: Public Finanee (Theory: credits) Unit | Topics to be covered No. of Lectures 1 Theory 30 1. Overview of Fiscal Functions, Tools of Normative Analysis, Pareto Efficiency, Equity and the Social Welfare, 2. Market Failure, Public Good and Externalities 3. Elementary Theories of Product and Factor Taxation (Excess Burden and Incidence), z Issues from Indian Public Finance 30 1. Working of Monetary and Fiscal Policies 2. Current Issues of India’s Tax System, 3. Analysis of Budget and Deficits 4. Fiscal Federalism in India 5._State and Local Finances, TOTAL 60 Suggested Readings: 1. Musgrave, R.A. and P.B. Musgrave, Public Finance in Theory and Practice, Me-Graw, Hill, 1989, 2. Mahesh Purobit, “Value Added Tax: Experience of India and Other Countries", Gayatri Rtas 2007. 30|Page we yoko Tal Cel QOWY olla 43. Kaushik Basu, and A. Maertens (ed), The Oxford Companion to Economics in India, Oxford University Press, 2007, 4.M.M, Sury, Government Budgeting in India, Commonwealth Publishers, 5: Shankar Acharya, “Thirty years of tax reform’ in Indi, Economic and Political Weekly, May 2005, 6. Government of India, Report of the 13" Finance Commission. 7. Exonomic Survey, Government of India( latest), 8. State Finances: A Study of Budgets, Reserve Bank of India (latest), 9. Irfan Habib, Indian Economy 1858-1914, A People's History of India, Vol28, Tulika, 2006, 10 tra Klein, 1984, — When Rains Feil: Famine Relief and Mortality in British, India, IESHR 21. } 11_ Jean Dreve, Famine Prevention in India in Dreze and Sen (eds.) Potitical Economy of Hunger, PMIDER Studies in Development Economics, 1990, pp.13. 35 12 John Hurd, Railways, CEHI, Chapter 8, pp.737-761, ig. Rajat Ray ed,), Entrepreneurship and Industry in Indi 1994, 14 AK Bagchi, -Deindustr in the nineteenth century: Some theoretical implications, Jounal of Development Studies, 1976, 15 MD Monts, Emergence of an Industrial Labour Force in India, OUP1965, Chapter 11, Summary and Conclusions. 16 KN. Chaudhuri, Foreign Trade and Batanceof Payments, CEHI, Chapter 10. 1? BR. Tomlison, 1975, India and the British Empire 1880-1935, IESHR, Vol.XI1, 5 Dharma Kumar, The Fiscal System, CEH, Chapter 12. 19 Basudev Chatterjee, Trade, Tarifis and Empire, OUP 1992, Epilogue, DSE 1: ECONOMICS OF HEALTH AND. EDUCATION tom After the completion of the course, the student will be able to: Cai a2destand the relevance of health and education in human development Eas, Ase the microeconomic foundations of health and educational ceone nics 03: Evaluate the progress of health sector inthe country (Cod: Assess the problem of gender and easte based diserimination in India, DSEI: ECONOMICS OF EALTH AND EDUCATION (Theory: 6 credits) Unit { Topies to be covered No, of Lectures 1 | Rote of Health and Education in Human Development Importance in io ponent alleviation; health and education outcomes and their relationship \with mactoeconomie performance, 2 | Microeconomic Foundations of Health Economica 10 Demand for health; uncertainty and health insurance market; altemative insurance mechanisms; market failure and rationale forpublic intervention; equity and inequality. 31[Page3° | Evaluation of Health Programs i Costing, cost effectiveness and cost-benefit analysis; burden of disease, 4 | Wealth Sector in India: An Overview 10 Health outcomes; heath systems; health financing. $ | Education: Investment in Human Capital 10 Fate of retur to education: privat and social; quality of educations Signaling or human capital; theories of discrimination; gender acd caste discrimination in India, © | Education Sector in India: An Overview 0 Literacy rates, school participation, school quality measures, TOTAL o Suggested Readings: 1+ William, Jack, Principles of Health Economies for Developing Counm es, World Bank Institute Development Studies, 1999, 2. World Development Report, Investing in Health, The World Bank, 1993, 3. Ronald G., Ehrenberg and Robert S., Smith, Modern Labor Economics: Theory and PublicPolicy, Addison Wesley, 2005, DSE 2: Economie History of India (1857-1947) Course Outcomes After the completion ofthe course, the student will be able to: COL: Understand the Background of Colonial India C02: Gauge the macro trends of vatious economic parameters ERE: Understand the Agrarian structure of Indian Beonomy C04: Learn about the infrastructure of Indian economy DSE 2: Economie History of India (1857-1947) (Theory: 6 credits) Unit | Topies to be covered No. of Lectures 1 Introduction: Colonial India: Background and Introduction 10 Overview of colonial economy, 5 Macro Trends 15 National Income; population; occupational structure, aq Agriculture 15 Agrarian structure and land relations; agricultural 32|Page‘markets and institutions — credit, commerce and technology; trends in performance and productivity; famines. Railways and Industry 10 Railways; the de-industrialization debate; evolution of fateprencurial and industrial structure; nature of industralization in the interwar period; constraints to industrial breakthrough; labor relations, Economy and State in the Amperial Context 10 ‘The imperial priorities and the Indian economy; drain of wealth; iiteratfonal trade, capital flows andthe colonial economy ~ changes and continuities; government and fiscal policy, TOTAL oO Suggested Readings: 1. Lakshmi Subramanian, “History of ndia 1707-1857", Orient Blackswan, 2010, Chapter 4, 2. Sumit Guha, 1991, Mortality decline in early 20 century Indi Social History Review (ESHR), pp 371-74 and 385-87, 3. Tirthankar Roy, The Economic History of India 185 edition, 2011 4:1. Keishnamuny, Occupational Structure, Dharma Kumar (editor), The Cambridge Economie History of India, Vol. I, (henceforth refered to as CEHI), 2005, Chapters. 5. Irfan Habib, Indian Economy 1858-1914, A People's History of India, Vol.28, Tulika, 2006, ia‘, Indian Economie and 1947, Oxford University Press, 3rd DSE 3: Money and Financial Markets nes After the completion of the course, the student will be able to: COL: Understand the basic concepts of money 02: learn about the various components of financial system differentiate between money and capital market. DSE 3: Money And Financial Markets (Theory: 6 credits) 4 Topics to be covered ‘No. of hours Money 10 (Concept functions, measurement; theories of money supply determination, 2. | Financial stitutions, Markets, Instruments and Financial 15 Innovations & Role of financial markets and institutions; problem of asymmettic information ~ adverse selection and moral hazard; financial crises. b. Money and capital markets: organization, structure and 33|Page he w- f° ay oral) v ee ae en a” 9 ARE alreforms in India; role of financial derivatives and other innovations. 3 [interest Rates 10 Determination; sources of interest rate differentials; theories of term structure of interest rates; interest rates in India. 4] Banking System 10 Objective and functions, 5. Indian banking system: Changing roleand structure: banking sector reforms. 3 | Central Banking and Monetary Policy 5 Functions, objective; goals, targets, indicators and instruments of monetary control; monetary management in an open economy; current monetary policy of India TOTAL © Suggested Readings: 1. E. S. Mishkin and $. G, Eakins, Financial Markets and Jnstitutions, Pearson Education, 6 edition, 2009, 2. FJ Fabozzi, F. Modigliani, F.J. Jones, M. G. Ferti, Foundations of Financial Markets 20 Sources of Random Disturbances, Assumptions of Linear Regression Model, Estimation of Simple Linear Regression Model by the Method ofrdinary Least Squares Properties of Ordinary Least Squares and Goodness of Fit, 4 | Violations of Classical Assumptions: Consequences, Deteéllon and 20 Remedies @. Multcollinearity b, Heteroscedasticity ©. Serial Correlation/ Auto Correlation, TOTAL 0 Suggested Readings: 2 1'Y i Devore, Probability and Statistics for Engineers, Cengage Leaming, 2010, 2. John E. Freund, Mathematical Statisties, Prentice Hall, 1992 3, Richard. Larsen and Morris L. Marx, An Introduction to Mathematical Statisties and its Applications, Prentice Hall, 2011 4... N. Gujarati and D.C. Porter, Essentials of Econometrics, MeGraw Hill, 4" Edition, International Edition, 2009, 5. Christopher Dougherty, Introduction to Econometrics, Oxford University Press, 3" Edition, Indian edition, 2007. 6. Jan Kmenta, Elements of Econometrics, indian Reprint, Khosla Publishing House, 2nd Edition, 2008, 39|Page