M.A. ECONOMICS - Sagar University

August 08, 2019

Department of Economics

Dr. HARISINGH GOUR UNIVERSITY, SAGAR (M.P.)

(A Central University)

Syllabus

For

M.A. ECONOMICS

w.e.f. Session 2018-19

M.A. Economics

Programme Structure (with effects from Academic Session 2018-19)

August 08, 2019

The M.A. Economics Programme is divided into two parts as under. Each Part will consist of

semesters.

Part Year Semester Semester

Part – I First Year Semester I Semester II

Part – II Second Year Semester III Semester IV

The schedule of papers prescribed for various semesters shall be as follows:

M.A. Economics

Two years (4 Semester) CBCS Programme

Programme Credits Total

Credits

Minimum

Duration

Maximum

Duration

M.A. CC-70 EC-08 OE-04 82 02 Years 04 Years

The syllabus for the Degree of Master of Arts in Economics shall comprise of the following parts:

(1) M.A. (I Semester) 4 Core Papers

(2) M.A. (II Semester) 4 Core Papers and 1 Other Elective

(3) M.A. (III Semester) 3 Core Papers, 1 Specific Elective and 1 Other Elective

(4) M.A. (IV Semester) 3 Core Papers and 1 Specific Elective/Dissertation/Project

Semester I

S. No. Course Type

Paper Code Title L T P Credits

1. Core Course ECO-CC-121 Micro Economic Analysis – I 4

1 0 5

2. Core Course ECO-CC-122 Quantitative Methods – I 4 1 0 5

3. Core Course ECO-CC-123 Public Finance-I 4 1 0 5

4. Core Course ECO-CC-124 Indian Economy– I 4 1 0 5

Total Credits 16 04 0 20

Semester II

S. No. Course Type

Paper Code Title L T P Credits

1. Core Course ECO-CC-221 Micro Economic Analysis – II 4 1 0 5

2. Core Course ECO-CC-222 Quantitative Methods – II 4 1 0 5

3. Core Course ECO-CC-223 Public Finance– II 4 1 0 5

4. Core Course ECO-CC-224 Indian Economy– II 4 1 0 5

5. Open Elective ECO-OE-221 Indian Economy-I 2 0 0 2


Semester III

S. No. Course Type Paper Code Title L T P Credits

1. Core Course ECO-CC-321 Macro Economic Analysis – I 4 1 0 5

August 08, 2019

2. Core Course ECO-CC-322 International Trade and Finance – I 4 1 0 5

3. Core Course ECO-CC-323 Development Economics – I 4 1 0 5

4. Specific

Elective

(Any one)

ECO-EC-321

ECO-EC-322

ECO-EC-323

Labour Economics or

Agriculture Economics or

Advance Banking

3 1 0 4

5. Open

Elective

ECO-OE-321 Indian Economy-II 2 0 0 2


Semester IV

S. No. Course Type Paper Code Title L T P Credits

1. Core Course ECO-CC-421 Macro Economic Analysis – II 4 1 0 5

2. Core Course ECO-CC-422 International Trade and Finance – II 4 1 0 5

3. Core Course ECO-CC-423 Development Economics – II 4 1 0 5

4.(a)

(b)

Specific

Elective

(Any one) or

Dissertation/

Project

ECO-EC-421

ECO-EC-422

ECO-EC-423

ECO-EC-424

Industrial Economics or

Rural Economy or

History of Economic Thought or

Dissertation/ Project

3 1 0 4


Open Elective: Only for Student of Session 2017-18

S. No. Paper Code Course Type

Title L T P Credits

1 ECO-OE-421 Open Elective Indian Economy-II 2 0 0 2

Note: The student may offer dissertation / Project in lieu of an optional paper in M.A IV semester

with the prior approval of the Head of the Department.

Scheme of Examination for MA in Economics

(A) Mid Semester Examination 20 Marks

(B) Internal Assessment* 20 Marks

(C) End Semester Examination 60 Marks

Grand Total 100 Marks

August 08, 2019

Note: Duration of End Semester Examination of each paper shall be 3 hours.

*Assessments: Internal Assessment: Assignment/presentation/group discussion etc. depending on

the number of students in the class and feasibility of adopting a particular methodology.

The distribution of marks for internal assessments shall be as follows:

(i) Evaluation of the assignment, presentation, group discussion etc Marks : 15

(ii) Attendance Marks : 05

The marks for attendance shall be awarded as follows:

(i) 75 % and below : 00 Mark

(ii) >75 % and up to 80% : 01 Mark

(iii) >80 % and up to 85% : 02 Marks

(iv) >85 % and up to 90% : 03 Marks

(v) >90 % and up to 95% : 04 Marks

(vi) >95 % : 05 Marks

Evaluation of Projects: It will be based on periodic assessment of the progress of the project and

End Semester Examination as follows:

(i) First periodic assessment of the progress after 08 weeks : 20 Marks

(ii) Second periodic assessment after 04 weeks : 20 Marks

(iii) End Semester Examination will consist of:

(a) Evaluation of the project report : 50 Marks

(b) Viva-Voce of the project report : 10 Marks

Evaluation of Field Work: It will be evaluated as follows:

(i) Performance in the Field Work and aptitude : 40 Marks

(ii) End Semester Examination:

(a) Evaluation of the report on the Field Work : 50 Marks

(b) Viva-Voce on the report : 10 Marks

Evaluation of Seminars:

1. Documentation for the seminar : 20 Marks

2. First presentation of the seminar : 20 Marks

3. End Semester Examination : 60 Marks

End Semester Examination will consist:

(I) Presentation of the seminar : 50 Marks

(II) Defense of the presentation : 10 Marks

M.A. ECONOMICS Ist

SEMESTER

ECO-CC-121 MICRO ECONOMIC ANALYSIS- I Credits 5(4+1)

PREAMBLE: The paper deals with the micro theories of distribution, welfare economics, and General

equilibrium in closed and open systems and analysis of economic behavior under uncertainty.

August 08, 2019

Essential Readings:

Dr.Abha Mittal, Micro Economics, S. Chand Publication

H.L. Ahuja, Modern Microeconomics, S.Chand Publishing, New Delhi.

H.L. Ahuja, (Latest Edn.) Principals of Micro Economics, S.Chand Publishing, New Delhi.

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Suggested Readings:

H.L. Ahuja, (Latest Edn) Business Economics: S.Chand Publishing, New Delhi.

Sen, A. (1999), Microeconomic Theory and Application, Oxford University press, New Delhi.

Koutsoyiannis, A.(1979), Modern Microeconomic (2nd Edition), Macmillan press, London

K.K. Dewett, (2005), Modern Economic Theory (22nd

Rev. Edn), S.Chand Publishing, New Delhi.

Henderson. J.M. and R.E. Quandt (1980) Microeconomic Theory: A Mathematical Approach,

McGraw Hill, New Delhi.

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M.A. ECONOMICS Ist

SEMESTER

ECO-CC-122 QUANTITATIVE METHODS-I Credits 5 (4+1)

PREAMBLE The main objective of this paper is to train the students to use the techniques of mathematical and

statistical analysis, which are commonly applied to understand and analyze economic problems.

UNIT- 1

Price, Gross and Income Elasticity’s of Demand: Theories of Demand - Utility; Indifference

Curve (income and substitution effects, Slutsky theorem) and their applications; Revealed

Preference Theory. (15 Hours)

UNIT- 2

Application and Uses of Indifference Curves; Effect of Subsidies to Consumers; Consumer's

Surplus; - Value Paradox; Evaluating Benefit from Tax; Evaluating Gain from Subsidy;

Consumer’s Surplus and Indifference Curves. (15 Hours)

UNIT- 3 Production Function - short period and long period; Law of Variable Proportions and Returns

to Scale; Iso-quants - Least Cost Combination of Inputs; Returns to Factors; Economies of

Scale. (15 Hours)

UNIT- 4 Linear Homogeneous Production Function - Cobb-Douglas Production Function;

Cobb-Douglas Production Function and Returns to Scale, Returns to Scale and Marginal

Returns to a Variable Factor; Traditional and Modern Theories of Costs - Empirical

Evidence; Derivation of Cost Functions from Production Function. (15 Hours)

UNIT- 5 Objectives and Equilibrium of the Firm: A General Analysis; Meaning of Firm’s Equilibrium,

Objectives of the Firm- Baumol, Morris and Williamson; Maximizing Profits: Firm’s

Equilibrium with Total Revenue – Total Cost Approach; Marginal Revenue – Marginal Cost

Approach- Second Order Condition for Equilibrium of the Firm. (15 Hours)

August 08, 2019

UNIT- 1 Introduction to Statistics: Basic concepts, Techniques of Data Collection, Sampling Vs.

Population, Universe and Sample, Type of Universe, Parameter and Statistic, Methods and

Objectives of Sampling; Primary and Secondary Data; Questionnaire and Schedule. (14 Hours)

UNIT- 2 Central Tendency and Dispersion: Measures of Central tendency: Mean, Median, Mode, Geo

-metric Mean and Harmonic Mean. Measures of Dispersion- Range, Mean Deviation, Standard

deviation, Coefficient of variation and Quartile deviation: Skewness and Kurtosis. (14 Hours)

UNIT- 3 Correlation: Meaning, Definitions, Types, Degrees and Methods of Studying Correlation- Karl

Pearson's Coefficients of Correlation and Spearman's Rank Correlation Coefficients, Multiple

Correlation. Regression Analysis: Concept, Lines of Regression and Least Square Methods,

Multiple Regressions. (15 Hours)

UNIT- 4 Index Numbers: Concept, Characteristics, Utility and Importance, Points to be Remember

While Constructing Index numbers, Limitations of Index Number. Family Budget and

Aggregative Expenditure Method, Fisher’s Ideal Index Number.

Time Series: Concept and Components: Secular Trend, Seasonal, Cyclical and Random

Variations. Importance of Time Series, Measurement of Long term Trend – Free-hand Curve,

Semi-average, Moving average and Least Squares Methods. (16 Hours)

UNIT- 5 Intrapolation and Extrapolation: Assumptions, Importance and Methods- Direct Binomial

Expansion, Newton’s Advancing Differences and Lagrange’s Methods.

Association of Attributes: Meaning, Characteristics and Yule’s coefficient of association.

Partial Association, Illusory Association, Association and Correlation. (15 Hours)

Essential Readings:

Gupta, S.C.(1993), Fundamental of Applied Statistics, S. Chand & Sons, New Delhi.

Yamane, Taro (1975), Mathematical for Economists, Prentice Hall of India, New Delhi.

Monga, G.S.(1972), Mathematical and Statistics for Economists, Vikas Publishing House, New Delhi.

Nagar, A.L. and R.K. Das (1993), Basic Statistics, Oxford University Press, New Delhi.

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Suggested Readings:

Baumol, W.J.(1984), Economic Theory and Operations Analysis, Prentice Hall, Englewood Cliffs,

New Jersey.

Millar, J. (1996), Statistics for Advanced Level, Cambridge University Press, Cambridge.

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

Speigal, M.R.(1992), Theory and Problems of Statistics, McGraw Hill Book Co., London.

Croxton, Crowden and Klein (1971), Applied General Statistics, Prentice Hall of India, New Delhi.

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M.A. ECONOMICS Ist

SEMESTER

ECO-CC-123 PUBLIC FINANCE – I Credits 5 (4+1)

PREAMBLE: This paper combines a thorough understanding of fiscal institutions with a careful analysis of the

issues which underline budgetary policies in general and Indian experience in particular.

August 08, 2019

UNIT-1 Public Finance: Meaning, Definition, Nature, Scope and Importance of Public Finance, Public

Finance Vs Private Finance; Principle of Maximum Social Advantage: Limitations, Difficulty

and Economic Test of Social Advantage; State Participation in Economic Life, Causes for

Expansion of Government’s Role, Limitations of State’s Economic Functions, Government

Measures to Promote Economic Development. (15 Hours)

UNIT-2 Public Expenditure: Meaning, Classification and Importance; Canons of Public Expenditure;

Reasons for Increase in Public Expenditure; Control of Public Expenditure; Effect of Public

Expenditure: Production, Consumption, Distribution, Income and Other Effects; Public

Expenditure and Economic Development; Causes and Trends of Public Expenditure in India.

(16 Hours)

UNIT-3 Public Revenue: Meaning, Classification and Sources of Public Revenue: Tax and Non-Tax

Revenue; Concept, Objectives, Characteristics and Elements of Tax, Characteristics of Good Tax

System; Problem of Justice in Taxation: Financial Theory, De-Marco’s Income Theory, Cost of

Service Theory, Benefit Theory, Ability to Pay Theory and Principle of Least Aggregate

Sacrifice; Efficiency in Taxation. (15 Hours)

UNIT-4 Taxation: Meaning, Objectives and Characteristics and Canons of Taxation; Taxable Capacity:

Meaning, Importance and Factor Determining Taxable Capacity; Classification of Taxes; Theory

of Incidence and Shifting of Taxes, Distinction Between Incidence and Impact of Tax; Taxation

and Economic Development; Effect of Taxation: Production, Distribution, Income and Others.

(15 Hours)

UNIT-5 Public and Private Sector: Meaning, Objectives, Characteristics and Problems of Public Sector,

Measures to Remove the Demerits of Public Sector; Private Sector: Meaning, Objectives,

Advantage and Disadvantage of Private Sector. (14 Hours)

Essential Readings:

Sanjay M. Dandade, Money Banking & Economic Reforms, Chandralok Prakasan, Kanpur.

Suraj B.Gupta , Monetary Economics: ( Institutional, Theory and Policy), S. Chand Publishers , New

Delhi.

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Suggested Readings:

Ankit Khanna , Money Banking and Public Finance, Omega Publications,2013

Mithani, D.M., Money, Banking, International Trade & Public Finance, Himalaya publication House

pvt.Ltd,2014

Girish K. Rana ,Financial Institutions and Markets, Horizon Press, 2014

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M.A. ECONOMICS Ist

SEMESTER

ECO-CC-124 INDIAN ECONOMY -I Credits 5 (4+1)

PREAMBLE: The paper is on overall social, political and economic environment influencing policy

decisions. To develop all these themes, the course is divided into specific modules.

August 08, 2019

UNIT- 1 Indian Economy: Meaning, Nature, Structure and Characteristics; Natural Resources and

Economic Development: Land, Water, Soil Erosion, Forest and Minerals; Indicators of

Development: Physical Quality of Life Index (PQLI), Human Development Index (HDI), Gender

Development Indices (GDI), Purchasing Power Parity (PPP). (16 Hours)

UNIT- 2 Human Infrastructure and Resource of Indian Economy: Health, Nutrition, Education,

Knowledge and Skills, Housing and Sanitation; Demographic Features in India, Problems and

Causes of Increase of India`s Population and Measures, Census 2011, Rural-Urban Migrations;

Demographic Dividend; Population and Economic Development. (15 Hours)

UNIT- 3 Unemployment And Poverty in India: Nature, Concept, Estimates and Causes of Unemployment in

India, Unemployment in Urban and Rural Areas, MGNREGA. Concept and Estimates of Poverty,

Poverty Gap Index, Squared Poverty Gap Index, Multi Dimensional Poverty Index (MPI); Effects

of Economic Growth on Rural Poverty. (15Hours)

UNIT- 4 Agricultural Sector in India: Role or Importance and Nature of India’s Agriculture; Cropping

Pattern, Factors Determining Cropping Pattern; Causes and Measures to Increase of Low Production

and Productivity; Technological Changes and Mechanization in Agriculture; National Agriculture

Policy; Agricultural Holdings: Causes, Defects and Remedies; Green Revolution. (15 Hours)

UNIT- 5 Agricultural Finance and Agricultural Marketing: Agricultural Finance: Meaning Means: Commercial

Banks, SBI, RRBs, NABARD and RBI, Difficulties and Suggestions. Agricultural Marketing: Present

Scenario, Defects and Measures; Agriculture Price Policy; Food Based Safety Net in India: Public

Distribution System, ICDS and Mid-Day Meals, WTO and Indian Agriculture. (14 Hours)

Essential Readings:

Dantwala, M.L. (1996), Dilemmas of Growth: The Indian Experience, Sage Publications, New Delhi.

Datt, R. (Ed.) (2001), Second Generation Economic Reforms in India, Deep & Deep Publications, New

Delhi. Brahmananda, P.R. and V.R.Panchmukhi (Eds.) (2001), Development Experience in the Indian

Economy: Inter-State Perspectives, Bookwell, Delhi.

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Suggested Readings:

Bardhan, P.K. (9th ed.) (1999), the Political Economy of Development in India, Oxford Uni. Press,

New Delhi.

Bawa, R.S. and P.S.Raikhy(1997), Structural Changes in Indian Economy, Guru Nanak Dev Uni.

Press Amritsar.

Ahluwalia, I.J. and I.M.D. Little (Eds.) (1999), India’s Economic Reforms and Development (Essay in

honor of Manmohan Singh), Oxford University Press, New Delhi.

M.A. ECONOMICS IInd

SEMESTER

ECO-CC-221 MICRO ECONOMIC ANALYSIS- II Credits 5 (4+1)

PREAMBLE The paper also deals with the micro theories of distribution, welfare economics and

general equilibrium in closed and open systems and analysis of economic behavior under uncertainty.

UNIT- 1 Perfect Competition: Short run and long run equilibrium of the firm and industry, price and

output determination, supply curve; Price and output equilibrium under Monopoly;

August 08, 2019

Measurement of Monopoly Power; Price and output equilibrium under price discrimination;

Numerical problems. (15 Hours)

UNIT- 2 Price Discrimination: Imperfect Competition- Monopolistic competition and oligopoly;

Equilibrium under monopolistic competition; Selling costs and advertising; Various

approaches to price-output determination under oligopoly; Kinked-Demand curve oligopoly

theory. (15 Hours)

UNIT- 3 Neo-Classical Approach: Marginal productivity theory; Determination of rent- Scarcity and

differential rent; Quasi rent; wages, interest (Keynesian & modern theory).

(15 Hours)

UNIT- 4 Welfare Economics: Concepts of social welfare; Pigovian welfare economics; Pareto

criterion and Edgeworth box, general equilibrium of exchange; Pareto criterion of social

welfare – conditions of Pareto optimality. (15 Hours)

UNIT- 5 Market failures: Monopoly as a cause of market failure; External economies and

diseconomies; Externalities and Pareto optimality; Kaldor-Hicks welfare criterion;

compensation principle- Scitovsky’s Paradox; Theory of Second Best - Arrow's impossibility

theorem. (15 Hours)

Essential Readings:

Dr.Abha Mittal, Micro Economics, S. Chand Publication

H.L. Ahuja, Modern Microeconomics, S.Chand Publishing, New Delhi.

H.L. Ahuja, (Latest Edn.) Principals of Micro Economics, S.Chand Publishing, New Delhi.

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Suggested Readings:

H.L. Ahuja, (Latest Edn) Business Economics: S.Chand Publishing, New Delhi.

Sen, A. (1999), Microeconomic Theory and Application, Oxford University press, New Delhi.

Koutsoyiannis, A.(1979), Modern Microeconomic (2nd Edition), Macmillan press, London

K.K. Dewett, (2005), Modern Economic Theory (22nd

Rev. Edn), S.Chand Publishing, New Delhi.

Henderson. J.M. and R.E. Quandt (1980) Microeconomic Theory: A Mathematical Approach,

McGraw Hill, New Delhi.

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M.A. ECONOMICS IInd

SEMESTER

ECO-CC-222 QUANTITATIVE METHODS-II Credits 5 (4+1)

PREAMBLE The main objective of this paper is to train the students to use the techniques of mathematical

and statistical analysis, which are commonly applied to understand and analyze economic problems.

UNIT- 1 Basic Concepts of Function - Variables, Sets, Functions, Factors- quadratic factors and Trinomial

factors and rules of factors Equations, Identities, Linear equation Quadratic equation cubic

equation, Equations-II Simultaneous Equations ,use in equation in economics (14 Hours)

August 08, 2019

UNIT- 2 Determinants & Matrix- Concept of Vector-,Rules and their Basic Properties; Solution of

Simultaneous Equations Through Cramer's Rule; Concept of Matrix- Their Types, Simple

Operations on Matrices, Matrix Inversion and Rank of a Matrix; Matrices and

its Properties Economics use in determinates and matrix. (15 Hours)

UNIT- 3 Probability: Meaning and Definitions, Theorems of Probability- Addition Theorem, Multiplication

Theorem and Bernoulli’s Theorem; Conditional Probability; Permutation and Combination

Theoretical Frequency Distribution: Meaning, Utility and Importance, Types of Theoretical

Frequency Distribution -Binomial, Poisson and Normal Distributions. (15 Hours)

UNIT- 4 Differentiation: Concept and Rules of Differentiation, Partial Differentiation, Problems of Maxima

and Minima, Use of Differential Equations in Economics. Integration: Concept, Simple Rules of

Integration; Application to Consumer’s Surplus and Producer’s Surplus. (15 Hours)

UNIT- 5 Statistical Significance: Types of Distribution, Standard Error and its Utility, Procedure of

Significance Testing, Confidence Intervals and Level of Significance (Determining a Problem, Null

& Alternate Hypothesis, Goodness of Fit, Type I and Type II Errors); Hypothesis Testing Based on

T, F and Z Tests; Contingency and Chi-Square Test. (16 Hours)

Essential Readings:

Gupta, S.C.(1993), Fundamental of Applied Statistics, S. Chand & Sons, New Delhi.

Yamane, Taro (1975), Mathematical for Economists, Prentice Hall of India, New Delhi.

Monga, G.S.(1972), Mathematical and Statistics for Economists, Vikas Publishing House, New Delhi.

Nagar, A.L. and R.K. Das (1993), Basic Statistics, Oxford University Press, New Delhi.

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izks- ,l- ,y- dksBkjh ifjek.kkRed i)fr;kWa] e/;izns’k fgUnh xzUFk vdkneh HkksikyA

Suggested Readings:

Baumol, W.J.(1984), Economic Theory and Operations Analysis, Prentice Hall, Englewood Cliffs,

New Jersey.

Millar, J. (1996), Statistics for Advanced Level, Cambridge University Press, Cambridge.

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

Speigal, M.R.(1992), Theory and Problems of Statistics, McGraw Hill Book Co., London.

Croxton, Crowden and Klein (1971), Applied General Statistics, Prentice Hall of India, New Delhi.

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M.A. ECONOMICS IInd

SEMESTER

ECO-CC-223 PUBLIC FINANCE - II Credits 5 (4+1)

PREAMBLE: This paper combines a thorough understanding of fiscal institutions with a careful analysis

of the issues which underline budgetary policies in general and Indian experience in particular.

UNIT-1 Public Debt: Meaning, Objectives, Classification and Importance of Public Debt, Causes of

Increase in Public Debt, Merits and Demerits of Public Debt, Redemption of Public Debt,

Distinction Between Private and Public Debt; Public Debt Vs Taxation; Burden and Effects of

Public Debt: Consumption, Production, Distribution and Employment. (17 Hours)

August 08, 2019

UNIT-2 Fiscal Policy: Meaning, Objectives and Instrument of Fiscal Policy; Fiscal Policy and Full

Employment, Fiscal Policy and Economic Growth, Fiscal Policy and Economic Stabilization;

Fiscal Policy in Under-Developed Countries; Deficit Finance: Meaning Objectives and Effect

of Deficit Finance; Deficit Financing in India. (15 Hours)

UNIT-3 Financial Administration and Budget: Meaning, Basic Feature, Importance, Objectives and

Types of Budget; Budgetary Procedure; Financial Control; Black Money in India: Meaning,

Nature, Causes and Effects of Black Money; Efforts to Solve The Problems; Development

Finance. (15 Hours)

UNIT-4 Fiscal Federalism: Federal Finance: Meaning, Features, Principals, Problems and

Constitutional Provisions of Federal Finance in India; Centre-State Financial Relations and

Conflicts in India; Finance Commission: Meaning and Functions, Recommendations of 14th

Finance commission. (15 Hours)

UNIT-5 Sources of Revenue of Central, State, Local Government: Sources of Revenue of Central

Government: Tax and Non-tax Revenue; Sources of Revenue of State Government: Tax and

Non-tax Revenue; Financial Sources of Local Bodies: Tax and Non-tax Revenue. (13Hours)

Essential Readings:



Delhi.

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Suggested Readings:


Mithani, D.M., Money, Banking, International Trade & Public Finance, Himalaya publication House

pvt.Ltd,2014


ch- ,y- ekFkqj] Hkkjr esa yksd foRr] lkfgR; Hkou ifCyds'kUl] vkxjkA

fryd ukjk;.k gtsyk& jktLo] ljLorh lnu] fnYyhA

M.A. ECONOMICS IInd

SEMESTER

ECO-CC-224 INDIAN ECONOMY– II Credits 5 (4+1)


decisions. To develop all these themes, the course is divided into specific modules

UNIT-1 Industrial Development In India: Problems of Industrial Developments, New Industrial

Policy 1991; Role and Problems of Public Sector; Policy Towards Public Sector in Period of

Economic Reform; The Policy of Privatization; Small Scale and Cottage Industries in India:

Meaning, Definition, Role, Performance and Problems. (16 Hours)

UNIT-2 Industrial Finance: Sources of Industrial Finance- Internal and External Sources, Industrial

Finance Corporation of India(IFCI), State Financial Corporations, Industrial Development Bank

of India(IDBI), Small Industries Development Bank of India(SIDBI). Industrial Sickness in

India. (14 Hours)

August 08, 2019

UNIT- 3 Service Sector in Indian Economy: Growth and Contribution, Reasons for Rapid Service

Growth, Share of Services in Employment, Foreign Trade in Services; Information and

Communications Technology (ICT), India’s Information Technology (IT) and ITES Industry.

(14 Hours)

UNIT-4 Foreign Trade of India: Foreign Trade: Meaning, Importance, Needs, Structure and direction,

Current Position of Balance of Payments of India. Export-Import Policy (EXIM); Foreign

Exchange Regulatory Act. (FERA) and Foreign Exchange Management Act (FEMA); Foreign

Direct Investment (FDI); Multinational Corporation (MNCs). (16 Hours)

UNIT-5 Some Issues of Indian Economy: National Institution for Transforming India (NITI Aayog),

National Development Council (NDC); Developing Grass-Root Organizations for

Development: Panchayatiraj; Role of Non Government Organizations (NGOs) and Pressure

Groups in India’s Economy. Public Private Partnership (PPP). (15 Hours)

Essential Readings:



Delhi. Brahmananda, P.R. and V.R.Panchmukhi (Eds.) (2001), Development Experience in the Indian


iUr] ts- lh- Hkkjrh; vFkZO;oLFkk] lkfgR; Hkou ifCyds’ku] vkxjkA





Suggested Readings:


New Delhi.


Press Amritsar.



M.A. ECONOMICS

ECO-OE-221 INDIAN ECONOMY -I Credits 02



Indian Economy: Meaning, Nature, Structure and Characteristics; Indicators of Development:

Physical Quality of Life Index (PQLI), Human Development Index (HDI), Gender Development

Indices (GDI), Purchasing Power Parity (PPP).

Unemployment and Poverty in India: Nature, Concept, Estimates and Causes of

Unemployment in India, Unemployment in Urban and Rural Areas. Concept and Estimates of

Poverty, Poverty Gap Index, Squared Poverty Gap Index, Multi Dimensional Poverty Index

(MPI); Effects of Economic Growth on Rural Poverty.

August 08, 2019

Human Infrastructure and Resource of Indian Economy: Demographic Features in India,

Problems and Causes of Increase of India`s Population and Measures, Census 2011, Rural-

Urban Migrations; Demographic Dividend; Population and Economic Development.

(30 Hours)

Essential Readings:


Delhi. iUr] ts- lh- Hkkjrh; vFkZO;oLFkk] lkfgR; Hkou ifCyds’ku] vkxjkA





Suggested Readings: Ahluwalia, I.J. and I.M.D. Little (Eds.) (1999), India’s Economic Reforms and Development (Essay in



New Delhi.


Press Amritsar.

Brahmananda, P.R. and V.R.Panchmukhi (Eds.) (2001), Development Experience in the Indian



M.A. ECONOMICS IIIrd

SEMESTER

ECO-CC-321 MACRO ECONOMIC ANALYSIS- I Credits 5 (4+1)

PREAMBLE: The paper entitled “Macro Economic Analysis” equips the students at the postgraduate

level to understand systemic facts and latest theoretical developments for empirical analysis.

UNIT- 1 Circular Flow of Income; Concepts of National Income; Personal Income and Disposable

Income; Different Forms of National Income Accounting; Limitations of GNP as a Measure of

Social Welfare; The Classical Theory of Income and Employment:- Say’s Law and Classical

Theory. (14 Hours)

UNIT- 2 Keynes’s Theory of Employment: Keynes Money-Wage Rigidity Model; Keynes’s view on

Monetarist Explanation; Policy Implications of Keynes’s Theory of Employment and Income;

Output Price Determination Model, Through AD & AS. (14 Hours)

August 08, 2019

UNIT- 3 Consumption Function: Concept of Average & Marginal Propensity to Consume and its

Determination; Keynes’s Psychological Law of Consumption; Keynesian Consumption Function

Puzzle and Kuznets Findings; Post-Keynesian theories of Consumption:- Relative Income and

Permanent Income Hypotheses. (16 Hours)

UNIT- 4 Investment Demand: Types and Determinants of Investment; Marginal Efficiency of Capital and

Investment; The Accelerator and Investment Behavior; New Classical Theory of Investment;

Fiscal and Monetary Policy Measures and Investment. (15 Hours)

UNIT- 5 The New Keynesian Economics:- Some Common Elements of New Keynesian Models;

Mankiw’s New Keynesian Model; Multiplier:- Concept, Leakages, Importance and Impact of

Multiplier; Derivation of Static Multiplier-Dynamic Multiplier; The Paradox of Thrift.(16 Hours)

Essential Readings:

H.L. Ahuja, (Latest Edn.), Macroeconomics: Theory and Policy, S.Chand Publishing, New Delhi

H.L. Ahuja, (Latest Edn.), Modern Economics, S.Chand Publishing, New Delhi

,p- ,y- vkgwtk] ¼uohu laLdj.k½] mPprj lef"V vFkZ’kkL=] ,l-pUn ,.M dEiuh izk- fy-] ubZ fnYyhA

,p MkWa- ,e- ,y- f>axu] ¼uohu laLdj.k½] lef"V vFkZ’kkL=] oank ifCyds’kUl izk-fy- fnYyhA

MkW- Vh- ,u- gtsyk& ^lef"V vFkZ’kkL=* ,uh cqDl izkbZosV fy-] nfj;kxat] ubZ fnYyhA

MkW- cyohj flag ;kno& ;wfuoflZVh ifCyds’ku deZiqjk] ubZ fnYyhA

Suggested Readings:

K.K. Dewett, (Latest Edn.), Modern Economic Theory, S.Chand Publishing, New Delhi

Green, H. and V. Walsh (1975), Classical and Neo-Classical Theories of General Equilibrium, Oxford

University Press London.

Hansen, B. (1970), A Survey of General Equilibrium Systems, McGraw Hill New York.

Quirk, J. and R. Saposnik (1968), Introduction to General Equilibrium Theory and Welfare Economics,

McGraw Hill, New York.

Weintrub, E. R. (1974), General Equilibrium Theory, Macmillan, London.

Borch, K. H. (1968), the Economics of Uncertainty, Princeton University Press Princeton.


SEMESTER

ECO-CC-322 INTERNATIONAL TRADE AND FINANCE – I Credits 5 (4+1)

PREAMBLE: The course provides a deep understanding about the broad principles and theories, which

tend to govern the free flow of trade in goods, services and capital, both short-term and long-term.

UNIT- 1 International Trade: Meaning, Necessity, Importance, Advantages- Disadvantages and

Effects of International Trade; Differences and Similarities between Interregional and

International Trade; Need for a Separate Theory of International Trade: Classical and

Ohlin's view. (13 Hours)

UNIT- 2 Theory of International Trade: Mercantilisitic View; Adam Smith's Theory of Absolute

Cost Advantage; Ricaradian Theory of Comparative Cost Advantage; Taussing's Money

Cost Interpretation of Comparative Cost Theory. (15 Hours)

August 08, 2019

UNIT- 3 Mill's Theory of Reciprocal Demand; Concept of Marshall's Offer Curve and Explanation

of Mill's Concepts of Reciprocal Demand with the help of Marshall's Offer Curves;

Haberler's Theory of Opportunity Cost; International Trade under Constant, Increasing and

Decreasing Opportunity Cost. (16 Hours)

UNIT- 4 Modern Theory of Factor Endowments (Heckscher-Ohlin theory), Explanation under Price

Criterion and Physical Criterion; Its comparison with Ricardian Theory, Criticisms,

Leontief's Paradox. (14 Hours)

UNIT- 5 International Trade and Factor Price; Samuelson's Factor Price Equalization Theorem,

Assumption, Stages and Proves with Edgeworth Box Diagram; Terms of Trade: Meaning

and various concepts of Terms of Trade, Factor affecting Terms of Trade. (17 Hours)

Essential Readings:

Carbough, R.J. (1999), International Economics, International Thompson Publishing, New York.

Bhagwati, J. (Ed.) (1981), International Trade, Selected Readings, Cambridge, University Press,

Massachusetts

MkW- th- lh- fla?kbZ] ,oa ts- ih- feJk& varjkZ"Vªh; O;kikj ,oa foRr] lkfgR; Hkou ifCyds’ku] vkxjkA

,p- ,l- vxzoky] ,oa lh- ,l- cjyk& varjkZ"Vªh; vFkZ’kkL=] y{eh ukjk;.k vxzoky] vkxjkA

MkW- jkts’k ikBd& varjkZ"Vªh; vFkZ’kkL=] fo’o Hkkjrh izdk’ku] ubZ fnYyhA

MkW- ch-,l- flUgk& varjkZ"Vªh; vFkZ’kkL=] lkfgR; Hkou ifCyds’ku] vkxjk] ¼m-iz-½A

MkW- ds- ,l- 'kekZ& varjkZ"Vªh; vFkZ’kkL=] ehuk{kh izdk’ku] esjB] ¼m-iz-½

Suggested Readings:

.

Chacholiades, M. (1990), International Trade: Theory and Policy, McGraw Hill, Kogakusha, Japan.

Dana, M.S. (2000), International Economics: Study, Guide and Work Book, (5th Edition), Routledge

Publishers, London.

Dunn, R.M. and J.H. Mutti (2000), International Economics, Routledge, London.

Kenen, P.B. (1994), the International Economy, Cambridge, University Press, London.

King, P.G. (1995). International Economics and International Economic Policy: A Reader, McGraw

Hill International, Singapore.


SEMESTER

ECO-CC-323 DEVELOPMENT ECONOMICS-I Credits 5 (4+1)

PREAMBLE: The important issues in the context of development such as infrastructure-linkages, role of

development, importance of domestic macroeconomic policies.

UNIT-1 Development and Growth: Meaning, Definitions, Characteristics of Economic Development,

Growth Vs Development, Economic and Non-Economic Factors of Economic growth, Problems

and Difficulties of Under-Developed Economies, Measurement of Economic Development: Gross

National Product, Per Capita Income, Economic Welfare, Basic Needs Indicators, Physical Quality

Life Index, Human Development Index, Characteristics of Developing Economies. (16 Hours)

UNIT-2 Human Resource : Meaning and Importance of Human Resource, Effect of Population on

Economic Development, Effect of Economic Development on Population, Human Resources in

India, Causes of Increase Population and Measures for Control Population in India, Population

Policy of India. Human Capital Formation: Meaning, Elements, Importance, Scope Limitations and

Measures. (15 Hours)

August 08, 2019

UNIT-3 Classical Theory of Economic Development: Adam Smith Theory: Natural law, Division of

Labour, Process of Capital Accumulation, Agents of Growth, Process of Growth and Stationary

State; Karl Marx Theory: Surplus Value, Capital Accumulation, Capitalist Crisis; Recardian

Theory: Assumptions, Process of Capital Accumulation and Stationary State. (15 Hours)

UNIT-4 New Classical Theory of Growth: Marshall’s Theory: Introduction, Assumptions Theory of

Capital Accumulation, Process of Growth Optimism Concerning Development, Inter- national

trade and Economic development and Criticisms Schumpeter’s Theory: Introduction, Assumptions

and Main Elements; Lewis Theory: Unlimited Supplies of Labour- Introduction, Assumptions,

Main Elements. (15 Hours)

UNIT-5 Growth Models: Myrdal Theory: Meaning, Backwash, Speed Effects, Regional and International

Inequalities of Circular Causation Theory; Kaldor model: Assumptions, Main Elements, and

Criticisms. Rosenstein- Rodans Big Push Theory: Assumptions, Main Elements and Criticisms.

(14 Hours)

Essential Readings:

f>axu ,e ,y fodkl dk vFkZ’kkL= ,oa vk;kstu oank ifCyds’ku izk- fyfeVsM ubZ fnYyhA

flUgk oh- lh- vkfFkZd of) ,oa fodkl o`ank ifCyds’ku izk- fyfeVsM esjBA

iUr ts lh Hkkjrh; vFkZO;oLFkk lkfgR; Hkou oank ifCyds’ku izk- fyfeVsM vkxjkA

Meier, G.M. (1995), Leading Issues in Economic Development, (6th Edition), Oxford University

Press, New Delhi.

Suggested Readings:

Adelman, I. (1961), Theories of Economic Growth and Development, Stanford University Press,

Stanford.

Chenery, H.and T.N. Srinivasan (Eds.) (1989), Handbook of Development Economics, Vols. 1&2,

Elsevier, Amsterdam.

Kindleberger, C.P. (1977), Economic Development, (3rd

Edition), McGraw Hill, New York.

Myint, H. (1971), Economics Theory and Underdeveloped Countries, Oxford University Press, New

York.

Barrow, R. and X. Sela-I, Martin, Economic Growth, McGraw Hill, New York

M.A. ECONOMICS III

rd SEMESTER

ECO-EC-321 LABOUR ECONOMICS Credits 4 (3+1)

PREAMBLE: This paper exposes students to theoretical as well as empirical issues relating to the

labour market with special reference to India.

UNIT-1 Labour market- Characteristics, classification and imperfections of labour market; Demand

and supply of labour- factor affecting demand; Causes of negative supply curve of labour.

(10 Hours)

UNIT-2 Standard of living and Efficiency of workers:- Meaning, measurement, determinants and

causes of low standard of living; Efficiency of workers- determinants, causes of inefficiency of

indian workers and suggestions for improving the efficiency. (12 Hours)

August 08, 2019

UNIT-3

Wages and methods of wage payment: - Meaning, money and real wages,

determinants of real wages, methods of wage payment, essentials of a satisfactory wage

system; Theories of wages- marginal productivity theory and modern theory of wages

determination; Fair wages, living wages and minimum wages. (14 Hours)

UNIT-4 Hours of work- effect of working hours, advantages of short working hours and dis-

advantages of long working hours; Labour movements- meaning, definition and

characteristics; Trade unions- meaning, definition, objectives, functions, types and importance

of trade union. (12 Hours)

UNIT-5 Recruitment of Industrial labour -recruitment policy, sources of supply, methods of

recruitment in India; Employment exchange- functions, objectives and significance. Working

conditions-meaning, scope, importance and working conditions under factory act, 1948.

(12 Hours)

Essential Readings:

Hajela, P.D. (1998), Labour Restructuring in India: A Critique of the New Economic Policies,

Commonwealth Publishers, New Delhi.

Papola, T.S., P.P. Ghosh and A.N. Sharma (Eds.) (1993), Labour, Employment and Industrial

Relations in India, B.R. Publishing Corporation, New Delhi.

oh- lh- flUgk] ,u- th- ikBd& vkS|ksfxd laca/k ,oa Je dY;k.k] us’kuy ifCydsflax gkÅl] ubZ fnYyhA

MkW- Vh-,u- Hkxksyhoky& Jfed vFkZ’kkL=] lkfgR; Hkou ifCyds’ku] vkxjkA

MkW- txUukFk Lo:Ik ekFkqj& Hkkjrh; Jfed oxZ vkanksyu] jktLFkku fgUnh xzaFk vdknehA

Suggested Readings:

Datt,G. (1996), Bargaining Power, Wages and Employment : An Analysis of Agricultural Labour

Markets in India, Sage Publications, New Delhi.

Jhabvata, R. and R.K. Subrahmanya (Eds.) (2000), the Unorganised Sector: Work Security and Social

Protection, Sage Publications, New Delhi.

McConnell, C.R. and S.L. Brue (1986), Contemporary Labour Economics, McGraw-Hill, New York.


SEMESTER

ECO-EC-322 AGRICULTURE ECONOMICS Credits 4 (3+1)

PREAMBLE: The objective of this course is to provide a detailed treatment of issues in agricultural economics to those

intending to specialize in this area. Its objective is to familiarize students with policy issues.

UNIT-1 Nature and Scope of Agricultural Economics; Traditional Agriculture and its Modernization;

Role of Agriculture in Economic Development; Interdependence Between Agriculture and

Industry; Agricultural Development. (11 Hours)

UNIT-2 Principles of Land Utilization; Land Distribution-Structure and Trends; Land Tenures;

Tenancy and Crop Sharing; Problems of Marginal and Small Farmers; Land Reforms

Measures and Performance; Cropping pattern Shifts. (12 Hours)

UNIT-3

Supply of Inputs - Irrigation, Power, Seed and Fertilizers; Pricing of Inputs. Risk and

Uncertainty in Agriculture: Types of Risk and Uncertainty; Measures to deal with Uncertainty

and role of Government. (13 Hours)

August 08, 2019

UNIT-4 Diversification of Indian agriculture: Introduction and Objective: Income Support, Minimum

Support Prices, Input Subsidies, Bonus etc; Objectives of Diversification of Indian

Agriculture. (11 Hours)

UNIT-5 Agriculture Price Policy – Introduction and Objectives; Main Elements of Agricultural Price

Policy and Critical Evaluation of India’s Agriculture Price Policy; Behavior of Agriculture

Prices - Cobweb model; commission on agricultural costs and prices (CACP). (13 Hours)

Essential Readings:

MkW- f’koHkw"k.k xqIr& df"k vFkZ’kkL=] SBPD Publishing House. Agra.

MkW- ih- lh- tSu& Hkkjr esa d`f"k fodkl] fjlpZ ifCyds’ku t;iqj] ubZ fnYyhA

MkW- lqn’kZu dqekj diwj& Hkkjrh; d`f"k vFkZO;oLFkk] jktLFkku fgUnh xzaFk vdkneh] t;iqjA

MkW- lqcg flag ;kno& df"k vFkZO;oLFkk] jkor ifCyds’ku] ubZ fnYyhA

Journals:

Economic and Political Weekly

Rural Development Perspectives

Suggested Readings:

Brahmananda, P.R. and V.R. Panchumukhi (Eds.) (1987), The Development Process of the Indian

Economy, Himalaya Publishing House, Bombay.

Desai G. and A.Vaidyanathan (Eds.) (1995), Strategic Issues in Future Growth of Fertiliser Use in

India, Macmillan, New Delhi.

Brahmananda, P.R., B.K. Narayan and A. Kalappa (Ed.) (1987), Dimensions of Rural Development in

India, Himalaya Publishing House, New Delhi.

Raghvan and L. Sarkar (Eds.) (1996), Poverty and Employment, New Age New Delhi.

Visaria, P. and R. Basant (1994), Non-Agricultural Employment in India : Trends and Prospects, Sage

Publications, New Delhi.

Jodhar N. (Ed.) (1996), Challenges to Indian Banking, Macmillan, New Delhi.

Vaidyananthan, A. (1995), The Indian Economy : Crisis, Response and Prospects, Orient Longmans,

New Delhi.


SEMESTER

ECO-EC-323 ADVANCE BANKING Credits 4 (3+1)

PREAMBLE: The course provides a deep understanding about the broad principles and theories, which tend to go vern the

free flow of trade in goods, services and capital - both short-term and long-term.

UNIT-1 The Origin and Development of Money: Commodity, Metallic Money, Paper Money, Credits

Money. Definition, Classification, Importance and Functions of Money: Primary and

Subsidiary Functions.; Money Supply Determination (M1, M2, M3, and M4); Gresham’s Law;

Money Standards: Metallic and Paper System of Note Issue. (12 Hours)

UNIT-2 Uses and limitations of Index Numbers; Quantity Theory of Money; Inflation: Meaning,

Stages, Causes and Effects of Inflations; Inflation and Economic Growth; Demand-Pull and

Cost-Push Inflation; Measures to Control Inflation; (10 Hours)

UNIT-3 Bank: Definition, Importance and Types of Bank; Unit Banking Vs Branch Banking, Merits

and Demerits of Branch Banking; Characteristics of Good Banking System; Commercial

Bank: Functions, Significance of Credits Creation by Bank; Credits Creation and Multiplier;

Limitations of Credits Creation. (12 Hours)

August 08, 2019

UNIT-4 Monetary Policy : Meaning , Definition and Functions of Central Bank; Objectives of Credits

Control; Quantitative and Qualitative Methods of Credits Control; Difficulties of Credits

Control; Role of Central Bank in Economic Development; Difference Between Commercial

Bank and Central Bank. (10 Hours)

UNIT-5 Role of Financial Markets and Institutions; The Money Market: Meaning and Features of

Money Market; Instruments of Money Market; Characteristics of a Developed Money Market;

Defects of Indian Money Market. The Capital Market: Meaning and Instruments; Difference

Between Money Market and Capital Market. SEBI, IDBI. (16 Hours)

Essential Readings:


Delhi.

ts- ih- feJk- lef"V vFkZ’kkL= ,oa eqnzk vkSj cSafdax lkfgR; Hkou ifCyds'kUl] vkxjkA

oh- lh- flag- mUur eqnzk o cSfdax- yksd Hkkjrh izdk'ku] bykgkcknA

,l- ,u- yky eqnzk] cSfdax rFkk yksdfoRr f'ko ifCyf'kax gkml] bykgkcknA

oh-lh- flUgk-eqnzk] cSafdax ,oa jktLo- lkfgR; Hkou ifCyds'kUl] vkxjkA

,p-,y- vkgwtk] ¼uohu laLdj.k½] mPprj lef"V vFkZ’kkL=] ,l-pUn ,.M dEiuh izk- fy-] ubZ fnYyhA

Suggested Readings:


Mithani, D.M., Money, Banking, International Trade & Public Finance, Himalaya publication House,

pvt. Ltd, 2014



M.A. ECONOMICS

ECO-OE-321 INDIAN ECONOMY -II Credits 02



Agricultural Sector in India: Role or Importance of India’s Agriculture; Cropping Pattern,

Factors Determining Cropping Pattern; Causes and Measures to Increase of Low Production and

Productivity; Technological Changes and Mechanization in Agriculture;

Agricultural Finance: Agricultural Finance: Meaning Means: Commercial Banks, SBI, RRBs,

NABARD and RBI, Difficulties and Suggestions. Agricultural Marketing: Present Scenario,

Defects and Measures; Agriculture Price Policy; Food Based Safety Net in India: Public

Distribution System, ICDS and Mid-Day Meals, WTO and Indian Agriculture.

Some Issues of Indian Economy: National Institution for Transforming India (NITI Aayog),

National Development Council (NDC); Developing Grass-Root Organizations for Development:

Panchayatiraj; Role of Non Government Organizations (NGOs) and Pressure Groups in India’s

Economy. (30 Hours)

August 08, 2019

Essential Readings:


Delhi. iUr] ts- lh- Hkkjrh; vFkZO;oLFkk] lkfgR; Hkou ifCyds’ku] vkxjkA





Suggested Readings:




New Delhi.


Press Amritsar.

Brahmananda, P.R. and V.R.Panchmukhi (Eds.) (2001), Development Experience in the Indian


Dantwala, M.L. (1996), Dilemmas of Growt

M.A. ECONOMICS IVth

SEMESTER

ECO-CC-421 MACRO ECONOMIC ANALYSIS- II Credits 5 (4+1)

PREAMBLE: The paper entitled “Macro Economic Analysis” equips the students at the postgraduate level to

understand systemic facts and latest theoretical developments for empirical analysis.

UNIT- 1 Supply of Money and its Determinants:- Money Supply and High Powered Money; Theory

of Money Supply; Money Multiplier; Factors Determining Money Supply; RBI’s Approach;

Budget Deficit and Money Supply; Money Supply and the Open Economy. (15 Hours)

UNIT- 2 Classical Approach to Demand for Money: Quantity Theory Approach, Fisher's Equation,

Cambridge Quantity Theory, Keynes's Liquidity Preference Approach, Aggregate Demand

for Money; Neo-Classical views on Interest. (14 Hours)

UNIT- 3 The IS-LM Model: Extension of IS-LM Model with Government Sector; Relative

Effectiveness of Monetary and Fiscal Policies; Post-Keynesian Approaches of Demand for

Money – Patinkin’s Real Balance Effect. (15 Hours)

UNIT- 4 Monetarist Approaches: Approaches of Baumol and Tobin; The Modern Quantity Theory of

Friedman; Classical, Keynesian and Monetarist Approaches to Inflation; Structuralist theory

of Inflation; Philips Curve Analysis. (14 Hours)

August 08, 2019

UNIT- 5 Open Economy and Macroeconomics: Phases of Business Cycle; Samuelson, Hicks and

Kaldor’s theories of Business Cycles; Fleming Mundell Open Economy Model. (16 Hours)

Essential Readings:

H.L. Ahuja, (Latest Edn.), Macroeconomics: Theory and Policy, S.Chand Publishing, New Delhi

H.L. Ahuja, (Latest Edn.), Modern Economics, S.Chand Publishing, New Delhi

,p- ,y- vkgwtk] ¼uohu laLdj.k½] mPprj lef"V vFkZ’kkL=] ,l-pUn ,.M dEiuh izk- fy-] ubZ fnYyhA

,p MkWa- ,e- ,y- f>axu] ¼uohu laLdj.k½] lef"V vFkZ’kkL=] oank ifCyds’kUl izk-fy- fnYyhA

MkW- Vh- ,u- gtsyk& ^lef"V vFkZ’kkL=* ,uh cqDl izkbZosV fy-] nfj;kxat] ubZ fnYyhA

MkW- cyohj flag ;kno& ;wfuoflZVh ifCyds’ku deZiqjk] ubZ fnYyhA

Suggested Readings:

K.K. Dewett, (Latest Edn.), Modern Economic Theory, S.Chand Publishing, New Delhi

Green, H. and V. Walsh (1975), Classical and Neo-Classical Theories of General Equilibrium, Oxford

University Press London.

Hansen, B. (1970), A Survey of General Equilibrium Systems, McGraw Hill New York.

Quirk, J. and R. Saposnik (1968), Introduction to General Equilibrium Theory and Welfare Economics,

McGraw Hill, New York.

Weintrub, E. R. (1974), General Equilibrium Theory, Macmillan, London.

Borch, K. H. (1968), the Economics of Uncertainty, Princeton University Press Princeton.

M.A. ECONOMICS IVth

SEMESTER

ECO-CC-422 INTERNATIONAL TRADE AND FINANCE -II Credits 5 (4+1)

PREAMBLE: The course provides a deep understanding about the broad principles and theories, which tend to

govern the free flow of trade in goods, services and capital, both short-term and long-term.

UNIT-1 Tariffs: Classification, Measurement, Effects of Taffies under Partial Equilibrium Analysis

and under General Equilibrium Analysis; Optimum Tariffs, Retaliation of tariffs; Non tariff

Barriers, types of NTBs; Quotas; Types and effects. (15 Hours)

UNIT-2 Balance of Trade and Balance of Payment: Meaning and Components of Balance of

Payments, Importance of Balance of Payments. Disequilibrium of balance of Payment,

Causes of disequilibrium and measures for correcting the disequilibrium in Balance of

Payment. (15 Hours)

UNIT-3 Concept of Foreign Exchange: Meaning & types of exchange rate: Fixed and Flexible, Spot

and Forward, Favorable and Unfavorable exchange rate. Concept & theory of exchange rate:

Purchasing Power Parity Theory and Balance of Payment Theory; Factors affecting rate of

exchange. Exchange control: objectives, methods and effects. (15 Hours)

UNIT-4 World Trade Organization: Functions, Structure, Objectives and working of WTO. India

and WTO. The Theory of Customs Union, Static and Dynamic Effects of Custom Union; EU

and SAARC. (15 Hours)

August 08, 2019

UNIT-5 International Trade and Economic Development: Favorable and Unfavorable impact of

International trade on Economic Development; Problems of Under Developed Countries

related foreign trade; Foreign Capital and Economic Development; Need and Importance of

foreign capital and Assistance, source of foreign capital: Private, Public and International

Agencies. Private v/s public foreign investment. (15 Hours)

Essential Readings:

Carbough, R.J. (1999), International Economics, International Thompson Publishing, New York.

Bhagwati, J. (Ed.) (1981), International Trade, Selected Readings, Cambridge, University Press,

Massachusetts

MkW- th- lh- fla?kbZ] ,oa ts- ih- feJk& varjkZ"Vªh; O;kikj ,oa foRr] lkfgR; Hkou ifCyds’ku] vkxjkA

,p- ,l- vxzoky] ,oa lh- ,l- cjyk& varjkZ"Vªh; vFkZ’kkL=] y{eh ukjk;.k vxzoky] vkxjkA

MkW- jkts’k ikBd& varjkZ"Vªh; vFkZ’kkL=] fo’o Hkkjrh izdk’ku] ubZ fnYyhA

MkW- ch-,l- flUgk& varjkZ"Vªh; vFkZ’kkL=] lkfgR; Hkou ifCyds’ku] vkxjk] ¼m-iz-½A

MkW- ds- ,l- 'kekZ& varjkZ"Vªh; vFkZ’kkL=] ehuk{kh izdk’ku] esjB] ¼m-iz-½

Suggested Readings:.

Chacholiades, M. (1990), International Trade: Theory and Policy, McGraw Hill, Kogakusha, Japan.

Dana, M.S. (2000), International Economics: Study, Guide and Work Book, (5th Edition), Routledge

Publishers, London.

Dunn, R.M. and J.H. Mutti (2000), International Economics, Routledge, London.

Kenen, P.B. (1994), the International Economy, Cambridge, University Press, London.

King, P.G. (1995). International Economics and International Economic Policy: A Reader, McGraw

Hill International, Singapore.

MkW- ds- ,l- 'kekZ& varjkZ"Vªh; vFkZ’kkL=] ehuk{kh izdk’ku] esjB] ¼m-iz-½A

MkW- ,e-,y- f>axu& varjkZ"Vªh; vFkZ’kkL=] oank ifCyds’kUl izk- fy- ubZ fnYyhA

M.A. ECONOMICS IVth

SEMESTER

ECO-CC-423 DEVELOPMENT ECONOMICS -II Credits 5 (4+1)

PREAMBLE: The important issues in the context of development such as infrastructure-linkages, role of

development, importance of domestic macroeconomic policies.

UNIT-1 Growth models: Horrod-Domer Model- Assumption, Main Elements, Growth Rates of

model, and Equation; Joan Robinson Theory- Assumptions, Equilibrium relations ,Concepts of

Golden Age, and Divergence from Golden Age; Keynesian Theory- Economic Development:

Introduction, Basic Elements and Criticisms of Theory. (15 Hours)

UNIT-2 Development and Underdevelopment: Meaning and Characteristics of Modern Economic

Growth, Poverty- Meaning and Types: Absolute and Relative, Vicious Circle of poverty,

Unemployment- Meaning ,Types, Characteristics and Suggestions of Prof. Bramanand and

Prof. Vakil for Disguised Unemployment, Measures Government Programs for

Unemployment. (15 Hours)

UNIT-3 Economic Policies: Monetary Policy-Meaning, Objectives, Role and Limitations in Indian

Economy; Fiscal Policy -Meaning, Objectives, Role, Tools, Factors Influencing the Success of

Fiscal Policy and Limitations in Indian Economy; Price Policy: Objectives, Functions,

Aspects, Principles and Suggestion. (15 Hours)

August 08, 2019

UNIT-4 Capital Formation : Meaning and Importance of Capital Formation, Problems or Low Rate of

Capital Formation in LDCs, Sources of saving in LDCs Sources of Capital Formation in

LDCs, Supply and Demand side of Capital Formation in LDCs, Methods of Measuring Capital

Formation. (14 Hours)

UNIT-5 Environment and Economic Development: Meaning, Definitions, Characteristics and

Elements of Environment ,Impact of Economic Development on Environment, Causes of

Environmental Degradation, Environment use: Air, Water, Land, Forests and Wild Life;

Environment Pollution: Meaning, Definitions, Types, Problems and Control Measures-Air,

Water, Soil, Radioactive and Sound Pollution. (16 Hours)

Essential Readings:

f>axu ,e ,y fodkl dk vFkZ’kkL= ,oa vk;kstu oank ifCyds’ku izk- fyfeVsM ubZ fnYyhA

flUgk oh- lh- vkfFkZd of) ,oa fodkl o`ank ifCyds’ku izk- fyfeVsM esjBA

iUr ts lh Hkkjrh; vFkZO;oLFkk lkfgR; Hkou oank ifCyds’ku izk- fyfeVsM vkxjkA

Meier, G.M. (1995), Leading Issues in Economic Development, (6th Edition), Oxford University

Press, New Delhi.

Suggested Readings:

Adelman, I. (1961), Theories of Economic Growth and Development, Stanford University Press,

Stanford.

Chenery, H.and T.N. Srinivasan (Eds.) (1989), Handbook of Development Economics, Vols. 1&2,

Elsevier, Amsterdam.

Kindleberger, C.P. (1977), Economic Development, (3rd

Edition), McGraw Hill, New York.

Myint, H. (1971), Economics Theory and Underdeveloped Countries, Oxford University Press, New

York.

Barrow, R. and X. Sela-I, Martin, Economic Growth, McGraw Hill, New York

M.A. ECONOMICS IVth

SEMESTER

ECO-EC-421 INDUSTRIAL ECONOMICS Credits 4 (3+1)

PREAMBLE: The objective of this course is to provide a detailed treatment of issues in industrial economics to

those intending to specialize in this area. Its objective is to familiarize students with policy issues regarding

industrial development.

UNIT-1 Industrialization: Concept, Features, Pattern, Processes & Stages, Industrialization and

Agriculture, Determinants of Industrial Growth, Impact, Advantages, Problems and Measure

to Promote Industrialization. (11 Hours)

UNIT-2 Concept of the Firm, Organization of a firm – Sole Proprietorship, Partnership and Company

or Corporations, Private Vs Public Company, Objectives of the Firm; Passive and Active

behavior of the Firm. Seller’s Concentration. Product Differentiation; Entry Condition.

(12 Hours)

UNIT-3

Industrial Unit: Meaning, Determining Factor, Measures of the Size of the Industrial Units,

Optimum Size of Industrial Unit. Industrial Localization: Meaning, Causes and Effects;

Theories of Industrial Location – Alfred Weber and Sargent Florence Theory. (12 Hours)

UNIT-4 Public and Private sector in India: Meaning Importance, Limitations and Objectives of

Public Enterprises; Role of Private Sector in Indian Economy, Public Vs Private sectors,

Meaning, Characteristics, merits-Demerits and Role of MNCs in India. Role of FDI in

Industrial Development in India. (13 Hours)

August 08, 2019

UNIT-5 Industrial Mergers: Advantages and Disadvantages of Horizontal and Vertical Mergers;

Sources of Institutional Finance – IDBI, IFCI, SFCs, SIDCs and Commercial Banks.

(12Hours)

Essential Readings:

Datt, R. (Ed.) (2001), Second Generation Economic Reforms in India, Deep & Deep Publications,

New Delhi.

vkj- ,l- dqyJs"B] vkS|ksfxd vFkZ’kkL=] lkfgR; Hkou ifCyds’kUl % vkxjkA

Hkxksyhoky] Vh-,u- ,oa izseyrk] Je vFkZ’kkL= ,oa vkS/kksfxd laca/k] lkfgR; Hkou ifCyds’kUl % vkxjkA

ekFkqj jhrk] vkS/kksfxd vFkZ’kkL=] vtqZu ifCyf’kax gkml] nfj;kxat] % ubZ fnYyhA

MkW- fnus’k panz 'kekZ& Hkkjrh; vkS|ksfxd vFkZO;oLFkk] ehuk{kh izdk’ku esjBA

Suggested Readings:

Ahluwalia, I.J. and I.M.D.Little (Eds.) (1999), India's Economic Reforms and Development (Essay in

honour of Manmohan Sing), Oxford University Press, New Delhi.

Bardhan, P.K. (9th Edition) (1999), the Political Economy of Development in India, Oxford

University Press, New Delhi.

Bawa, R.S. and P.S.Raikhy (Ed.) (1997), Structural Changes in Indian Economy, Guru Nanak Deve

University Press, Amritsar.

Brahmananda, P.R. andV.R.Panchmukhi (Eds.) (2001), Development Experience in the Indian

Economy : Inter-State Perspectives, Bookwell, Delhi.


M.A. ECONOMICS IVth

SEMESTER

ECO-EC-422 RURAL ECONOMY Credits 4 (3+1)

PREAMBLE: The objective of this course is to provide a detailed treatment of issues pertaining to rural development to

those intending to specialize in this area. Its objective is to familiarize students with the theory of rural development issues

that are relevant to Indian countryside and enable them to understand and analyze the problems of rural development.

UNIT-1 Concept and Scope of Rural Development, Causes of Rural Backwardness, Need for Rural

Development, Constraints of Rural Development; Important Issues in Rural Development:

Human Resource Development and Sustainable Rural Development. (11 Hours)

UNIT-2

Rural Unemployment and Poverty in India: Nature, Estimates and Classification of Rural

Unemployment, Factors Responsible for Unemployment; Suggestions to Solve the

Unemployment Problem; Rural Poverty: Trend of Poverty in India, Causes of Poverty,

Suggestions to remove Poverty. (13 Hours)

UNIT-3 Rural Development Policy and Strategies: Need for a Rural Development Policy in India;

Strategies for Rural Development; Micro Finance, SHG, MANREGA, Rashtriya Mahila

Khosh and CAPART. (12 Hours)

UNIT-4 Alternative Occupations in Rural India: White Revolution in India, Poultry Farming, Sheep

Development, Fisheries and Aquaculture, Horticulture and Floriculture, Forest Resources in

India; Rural Non Farm Sector, Food Processing Industries and Agro-based Industries.

(12 Hours)

UNIT-5

Rural Finance – Role of Capital and Rural Credits; Organized and Unorganized Capital

Market; Rural Saving and Capital Formation; Characteristics and Sources of Rural Credits–

Institutional and Non-Institutional; Reorganization of Rural Credits -Cooperatives,

August 08, 2019

Commercial Banks, Regional Rural Banks; Role of NABARD. (12 Hours)

Essential Readings:

Jain, L C, Krishnamurthy B V and : Grass Without Roots: Rural Development

Tripathy, I M (1988) under Government Auspices, Sage Publications India Pvt. Ltd., New Delhi

Rao, V M (no date) : Rural Development and The Village Economy: Perspectives for Planning for

Development, Sterling Publishers Pvt. Ltd., New Delhi

dVkj flag] xzkeh.k fodkl] fl)kWar] uhfr;kWa ,oa izca/k] jkor ifCyds’kUl % ubZ fnYyhA

lwpuk ,oa izdk’ku ea=ky;] xzkeh.k fodkl foHkkx] ubZ fnYyhA

MkW- ih- lh- tSu& Hkkjr esa d`f"k fodkl] fjlpZ ifCyds’ku t;iqj] ubZ fnYyhA

MkW- lqn’kZu dqekj diwj& Hkkjrh; d`f"k vFkZO;oLFkk] jktLFkku fgUnh xzaFk vdkneh] t;iqjA

nRr ,oa lqanje Hkkjrh; vFkZO;LFkk ,l-pUn ,.M dEiuh izk- fy-] ubZ fnYyh Suggested Readings:

Chambers, Robert (1983) : Rural Development: Putting the Last First, Longman Pub. Group.

McAreavey, Ruth (2009) : Rural Development Theory and Practice, Routledge

Journals:

Economic and Political Weekly

Rural Development Perspectives

M.A. ECONOMICS IVth

SEMESTER

ECO-EC-423 HISTORY OF ECONOMIC THOUGHT Credits 4 (3+1)

PREAMBLE: A critical study of the economic theories of the past and economic ideas of the great economic

thinkers of the past is at once challenging and illuminating and enlightening.

UNIT-1 Mercantilism: Circumstance that give rise to Mercantilism; Physiocrats: The Contribution of

Physiocracy; Adam Smith: Wealth of Nations, Division of Labour, International Trade and

Protection, Theory of value, Theory of Distribution and Public Finance; David Ricardo: Theory

of Distribution, Economic Development, International Trade and Taxation. (12 Hours)

UNIT-2

Thomas Robert Malthus: Theory of Population, Theory of Over-Production and Distribution;

Alfred Marshall: View of Consumptions, Elasticity of Demand, Consumer’s Surplus Production,

Law of Diminishing Returns, Exchange- Importance of Time Element in the Theory of Value;

J.S. Mill: Theory of Self Interest, Theory of Free Economy, Population Theory, Law of Demand

and Supply, Theory of International Trade, Wages Theory, Theory of Cost etc. (12 Hours)

UNIT-3

J.M. Keynes: Liquidity Preference Theory, General Theory of Employment, Interest and Money,

Theory of Multiplier, Saving and Investment Theory of Trade cycle, Marginal Efficiency of

Capital ; Karl Marx: Labour Theory of Value, Theory of Surplus Value, Theory of Rise and

Decay of Capitalism, Nature of Capital; Schumpeter: Trade Cycle and Innovation Theory.

(14 Hours)

August 08, 2019

UNIT-4

A.C.Pigou:Wealth & Welfare, Employment Theory, Quantities Theory of Money, Psychological

Theory of Trade Cycle; Pereto: Paretian Social Optimum Theory; Amartya Sen: Contribution of

Economic Thought, Economics Development Vs Social Development, Poverty & Femians.

(10 Hours)

UNIT-5

Kautilya: Economics of Kautilya; Agriculture; Public Finance; Labour; Population. B.R.

Ambedakar: Theory of Agriculture; Labour, Population; Insurance; Budget & Finance;

Sociolism; Industralision. M.K.Gandhi – Money Theory;Theory of Machinery; Theory of

Trusteeship; Small Industry & Decentralization Sarvodaya . (12 Hours)

Essential Readings:

Mh- vkj- tkVo MkW- vEcsMdj ds vkfFkZd fopkj- xkSre cqd lsUVj ubZ fnYyhA

ih- Mh- egs’ojh MkW- ,l-lh-tSu -vkfFkZd fopkjks dk bfrgkl- dSyk’k iqLrd lnu] HkksikyA

,e- ,y- f>axu] ,y- xfjek] ,e- 'kf’kdyk -vkfFkZd fopkjksa dk bfrgkl- oank ifCyds’ku izkbZosV fy- ubZ fnYyhA

iq"ikflag -fodkl dk vFkZ’kkL= ,oa vkfFkZd fpUru dk bfrgkl- lkfgR; Hkou ifCyds’ku vkxjkA

,e- ,y- f>axu -vkfFkZd fopkjksa dk bfrgkl oank ifCyds’ku izkbZosV fy- ubZ fnYyhA

MkW- ts- lh- iar ,oa MkW- ,e- ,y- lsB& vkfFkZd fopkjksa dk bfrgkl] y{eh ukjk;.k vxzoky] vkxjkA

Suggested Readings:

Ghos & Ghos, Concise History of Economic thought Himalaya publication House pvt.Ltd. Ajit,K,Dasgupta, A history of Indian economic thought, Routledge 11 New fetter lane,London

Bhatiya,H,L, A history of Indian economic thought, S.Chand Publication. New Delhi

T,N,Hajela, A history of economic thought, Ane Books Pvt. New Delhi.

Shiva Chandra, A history of Indian economic thought, Firma KLM, The University of Michigan

E,K,Hunt and Mark Lautzenheiser, A history of economic thought,M,E,Sharpe Armonk,England.

M.A. ECONOMICS - Sagar University

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