Department of Economics - Dayalbagh Educational Institute

Department of Economics

Board of Studies Meeting

Date and Time April 4, 2015, 11:30 A.M. (A)Following members were present in the Board of Studies Meeting External Members: Prof B.L. Pandit-Delhi school of Economics

Prof Pami Dua- Director, Delhi School of Economics Prof Ashok Mittal -Head Dept. of Economics A.M.U.

Internal Members: Prof. Swami Prakash Srivastava, Dr Sangeeta Kumar, Dr Rupali Satsangi, Dr Jyoti Gogia, Dr Resham Chopra (B) Additional Inputs (i) Following external members were present in one day workshop for curriculum revision organized by Economics Dept. on March 2, 2015 External Member: Prof S.K. Shukla, Head, Dept. of Economics, Jiwaji University, Gwalior Prof. Sudhir Sharma, Dept. of Economics Jiwaji University-Gwalior Prof Ved Prakash Tripathi, Dr Bachho Singh, Head, Dept. of Economics -RBS College –Agra, Dr Ravi Kant, Dr Shyam Sundar Singh Chauhan ………………………………………………………………………………………………. In the meeting, the following issues/proposals were discussed

1. The Committee reviewed the existing syllabi of all the courses. The major changes in various courses have been proposed.

2. The Panel of external examiners , the question banks and readings of various courses were reviewed and updated

3. The experts made the following additional observations: (i) It was suggested that ‘Suggested Readings’ of each course be modified to include the

name of publisher as well as the year of publication. (ii) It was suggested that in the syllabus of each course “learning Objectives’ should be

mentioned.

The meeting ended with vote of thanks Prof. Swami Prakash Srivastava Head , Dept. of Economics, Faculty of Social Sciences D.E.I. – Agra-282005

DEPARTMENT OF ECONOMICS PROPOSED COURSE STRUCTURE

B.A. (HONOURS) SEMESTER I SEMESTER II ECH 101 ESSENTIALS OF ECONOMICS ----- ECH 102 INTRODUCTION TO INDIAN ECONOMY

-----

ECW 101 BANKING & FINANCE (WORK EXPERIENCE)

ECW 201 INTRODUCTION TO COMPUTER APPLICATIONS (WORK EXPERIENCE)

ECM 101 PRINCIPLES OF MICROECONOMICS ECM 201 PRINCIPLES OF MACROECONOMICS ECM 102 INDIAN ECONOMIC DEVELOPMENT I

ECM 202 MONEY, FINANCIAL MARKET & INSTITUTIONS

ECM 103 SEMINAR & GROUP DISCUSSION ECM 203 SEMINAR & GROUP DISCUSSION ECM 104 TUTORIALS ECM 204 TUTORIALS SEMESTER III SEMESTER IV ECM 301 DEVELOPMENT ECONOMICS ECM 401 MONETARY ECONOMICS ECM 302 PUBLIC ECONOMICS ECM 402 INTERNATIONAL ECONOMICS ECM 303 STATISTICAL METHODS FOR ECONOMICS I

ECM 403 MATHEMATICAL METHODS FOR ECONOMICS*

ECM 304 SEMINAR & GROUP DISCUSSION ECM 404 SEMINAR & GROUP DISCUSSION ECM 305 TUTORIALS ECM 405 TUTORIALS ECW 301 COMMUNICATION TECHNIQUES (OPTIONAL)

ECW 401 CONTEMPORARY ISSUES IN ECONOMICS AND FINANCE (OPTIONAL)

ECM 406 DEMOGRAPHY* SEMESTER V SEMESTER VI ECM 501 MICROECONOMIC ANALYSIS ECM 601 MACROECONOMIC ANALYSIS &

POLICY ECM 502 INDIAN ECONOMIC DEVELOPMENT II

ECM 602 ECONOMICS OF HEALTH AND EDUCTION

ECM 503 STATISTICAL METHODS FOR ECONOMICS II

ECM 603 BASIC ECONOMETRICS

ECM 504 HISTORY OF ECONOMIC THOUGHT ECM 604 ENVIRONMENTAL ECONOMICS ECM 505 SEMINAR & GROUP DISCUSSION ECM 605 SEMINAR & GROUP DISCUSSION PGDBE- M.A. - M.PHIL SEMESTER I SEMESTER II DBE 701 MACROECONOMIC THEORY DBE 801 MICROECONOMIC THEORY DBE 702 INDIAN ECONOMY- DEVELOPMENT, PERSPECTIVES & CHALLENGES

DBE 802 INTERNATIONAL TRADE & FINANCE

DBE 703 QUANTITATIVE TECHNIQUES- BUSINESS AND ECONOMIC ANALYSIS

DBE 803 BUSINESS AND ECONOMIC FORECASTING

DBE 704 FINANCIAL ECONOMICS DBE 804 BUSINESS ENVIRONMENT DBE 705 CASE STUDY & VIVA VOCE DBE 805 PROJECT SEMESTER III SEMESTER IV ECM 001 RESEARCH METHODOLOGY ECM 901 DISSERTATION ECM 002 PRE DISSERTATION (Any two) ECM 902 DEVELOPMENT THEORY AND

EXPERIENCE ECM 903 ECONOMETRIC METHODS ECM 904 LAW AND ECONOMICS ECM 905 ENVIRONMENTAL ECONOMICS M.PHIL. SEMESTER I SEMESTER II ECM 951 DISSERTATION I ECM 952 DISSERTATION II

ECM 953 SELF STUDY COURSE ECM 954 ADVANCED RESEARCH ETHODOLOGY

ECM 955 ECONOMIC ANALYSIS & POLICY

COMPARISON OF EXISTING AND PROPOSED SYLLABUS

EXISTING PROPOSED B.A. (HONOURS) SEMESTER I SEMESTER I ECH 101 ESSENTIALS OF ECONOMICS ECH 101 ESSENTIALS OF ECONOMICS ECH 102 INTRODUCTION TO INDIAN ECONOMY ECH 102 INTRODUCTION TO INDIAN ECONOMY ECW 101 BANKING & FINANCE (WORK EXPERIENCE)

ECW 101 BANKING & FINANCE (WORK EXPERIENCE)

ECM 101 PRINCIPLES OF MICROECONOMICS ECM 101 PRINCIPLES OF MICROECONOMICS ECM 102 INDIAN ECONOMY:STRUCTURE & DEVELOPMENT

ECM 102 INDIAN ECONOMIC DEVELOPMENT I

ECM 103 SEMINAR & GROUP DISCUSSION ECM 103 SEMINAR & GROUP DISCUSSION ECM 104 TUTORIALS ECM 104 TUTORIALS SEMESTER II SEMESTER II ECW 201 INTRODUCTION TO COMPUTER APPLICATIONS (WORK EXPERIENCE)

ECW 201 INTRODUCTION TO COMPUTER APPLICATIONS (WORK EXPERIENCE)

ECM 201 PRINCIPLES OF MACROECONOMICS ECM 201 PRINCIPLES OF MACROECONOMICS ECM 202 INDIAN ECONOMY: MONEY & FINANCIAL MARKETS

ECM 202 MONEY, FINANCIAL MARKET & INSTITUTIONS

ECM 203 SEMINAR & GROUP DISCUSSION ECM 203 SEMINAR & GROUP DISCUSSION ECM 204 TUTORIALS ECM 204 TUTORIALS SEMESTER III SEMESTER III ECM 301 ECONOMICS OF DEVELOPMENT ECM 301 DEVELOPMENT ECONOMICS ECM 302 PUBLIC FINANCE ECM 302 PUBLIC ECONOMICS ECM 303 STATISTICAL METHODS FOR ECONOMICS-1

ECM 303 STATISTICAL METHODS FOR ECONOMICS I

ECM 304 SEMINAR & GROUP DISCUSSION ECM 304 SEMINAR & GROUP DISCUSSION ECM 305 TUTORIALS ECM 305 TUTORIALS ECW 301 COMMUNICATION TECHNIQUES (OPTIONAL)

ECW 301 COMMUNICATION TECHNIQUES (OPTIONAL)

SEMESTER IV SEMESTER IV ECM 401 MONETARY ECONOMICS ECM 401 MONETARY ECONOMICS ECM 402 DEMOGRAPHY ECM 402 INTERNATIONAL ECONOMICS ECM 403 INTERNATIONAL ECONOMICS ECM 403 MATHEMATICAL METHODS FOR

ECONOMICS* ECM 404 SEMINAR & GROUP DISCUSSION ECM 404 SEMINAR & GROUP DISCUSSION ECM 405 TUTORIALS ECM 405 TUTORIALS ECW 401 CONTEMPORARY ISSUES IN ECONOMICS AND FINANCE (OPTIONAL)

ECW 401 CONTEMPORARY ISSUES IN ECONOMICS AND FINANCE (OPTIONAL)

ECM 406 DEMOGRAPHY* SEMESTER V SEMESTER V ECM 501 MICROECONOMIC ANALYSIS ECM 501 MICROECONOMIC ANALYSIS ECM 502 HISTORY OF ECONOMIC THOUGHTS ECM 502 INDIAN ECONOMIC DEVELOPMENT II ECM 503 COMPUTER APPLICATIONS IN ECONOMIC ANALYSIS

ECM 503 STATISTICAL METHODS FOR ECONOMICS II

ECM 504 STATISTICAL METHODS FOR ECONOMICS-2

ECM 504 HISTORY OF ECONOMIC THOUGHT

ECM 505 SEMINAR & GROUP DISCUSSION ECM 505 SEMINAR & GROUP DISCUSSION SEMESTER VI SEMESTER VI ECM 601 MACROECONOMIC ANALYSIS & POLICY ECM 601 MACROECONOMIC ANALYSIS & POLICY ECM 602 INDUSTRIAL ECONOMICS ECM 602 ECONOMICS OF HEALTH AND

EDUCATION ECM 603 ENVIRONMENTAL ECONOMICS ECM 603 BASIC ECONOMETRICS ECM 604 MATHEMATICAL METHODS FOR ECONOMICS

ECM 604 ENVIRONMENTAL ECONOMICS

ECM 605 SEMINAR & GROUP DISCUSSION ECM 605 SEMINAR & GROUP DISCUSSION

PGDBE- M.A. M.PHIL SEMESTER I SEMESTER I DBE 701 MICROECONOMIC ANALYSIS DBE 701 MACROECONOMIC THEORY DBE 702 MACROECONOMIC ANALYSIS AND POLICY DBE 702 INDIAN ECONOMY- DEVELOPMENT,

PERSPECTIVES & CHALLENGES DBE 703 COMPUTER APPLICATIONS IN BUSINESS AND ECONOMIC ANALYSIS



DBE 704 FINANCIAL ECONOMICS

DBE 705 CASE STUDY & VIVA VOCE DBE 705 CASE STUDY & VIVA VOCE SEMESTER II SEMESTER II DBE 801 BUSINESS AND ECONOMIC FORECASTING DBE 801 MICROECONOMIC THEORY DBE 802 FINANCIAL INSTITUTIONS AND MARKETS DBE 802 INTERNATIONAL TRADE & FINANCE DBE 803 INTERNATIONAL TRADE & FINANCE DBE 803 BUSINESS AND ECONOMIC

FORECASTING DBE 804 BUSINESS ENVIRONMENT DBE 804 BUSINESS ENVIRONMENT DBE 805 PROJECT DBE 805 PROJECT SEMESTER III SEMESTER III ECM 001 RESEARCH METHODOLOGY ECM 001 RESEARCH METHODOLOGY ECM 002 PRE DISSERTATION ECM 002 PRE DISSERTATION SEMESTER IV SEMESTER IV ECM 901 DISSERTATION ECM 901 DISSERTATION ECM 902 INDIAN ECONOMY- DEVELOPMENT, PERSPECTIVES & CHALLENGES

ECM 902 DEVELOPMENT THEORY AND EXPERIENCE

ECM 903 INDUSTRIAL ECONOMICS ECM 903 ECONOMETRIC METHODS ECM 904 ECONOMETRIC METHOD WITH APPLICATIONS

ECM 904 LAW AND ECONOMICS

ECM 905 ECONOMICS OF INSURANCE ECM 905 ENVIRONMENTAL ECONOMICS ECM 906 DEVELOPMENT ECONOMICS M.PHIL SEMESTER I SEMESTER I ECM 951 DISSERTATION I ECM 951 DISSERTATION I ECM 953 SELF STUDY COURSE ECM 953 SELF STUDY COURSE ECM 954 ADVANCED RESEARCH METHODOLOGY ECM 954 ADVANCED RESEARCH METHODOLOGY ECM 955 ECONOMIC ANALYSIS & POLICY ECM 955 ECONOMIC ANALYSIS & POLICY SEMESTER II SEMESTER II ECM 952 DISSERTATION II ECM 952 DISSERTATION II Note:

B.A. Pass Course: First Four Semesters of the course is B.A. Pass Course. Students from Social Sciences or Arts can take it as one of the major courses (out of two major courses). Students have choice to continue or leave the course after fourth semester.

B.A. Honours: Fifth and Sixth semesters are specialization in Economics. ECH 101 and ECH 102 are Faculty half courses and open for other students. (non- economic

background) ECW 101 and ECW 201 are work experience courses and compulsory for all. ECW 301 and ECW 401 are optional course, and certificate is awarded for completing it

successfully. *ECM 403 Mathematical Methods for Economics is proposed to be mandatory for students who

are willing to do B.A. Economics (Hons.). Other students may take ECM 406 Demography. Post Graduate Diploma in Business and Economics (PGDBE): First two semesters are Diploma

course. Students may exit after completing diploma. M.A. (Applied Economics): In addition of two semesters of PGDBE, students will be awarded with

M.A. (Applied Economics) degree after completing third and fourth semesters.

Department of Economics

ECH 101 1 Department proposing the course Economics 2 Course Title Essentials of Economics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)

min.pds./sem.:39 4 Credits 3 5 Course Number ECH101 6 Status Half Course 7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another Dept./Centre

NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims To give the better knowledge of economic concepts and issues, and help the non-economic students in understanding the basics of economics.

S.

No. Course No. Existing Contents Revised Justification

1. ECH 101 UNIT 1: THEORY OF CONSUMER’S BEHAVIOUR (a) Marginal Utility analysis (b) Law of Demand (c) Price elasticity of demand (d) Law of Supply.

UNIT 1: NATURE AND SCOPE OF ECONOMICS Meaning and Definitions of Economics; Scarcity and Choice; Economic Problem; Opportunity sets; Economic System; Role of Price Mechanism; Positive and Normative Economics; Microeconomics and Macroeconomics

Introductory part of economics has been added to orient non economic background students with fundamentals of economics.

2. ECH 101 UNIT 2: THEORY OF PRODUCT PRICING (a) Market forms (b) Price and output determination under Perfect competition, Imperfect competition and Monopoly.

UNIT 2: THEORY OF CONSUMER BEHAVIOUR Demand; Law of demand; Elasticity of demand-degrees, types and methods of measurement; Law of supply; Utility Analysis.

Unit 1 of existing course has been shifted to unit 2 with changed sequence.

3. ECH 101 UNIT 3: THEORY OF FACTOR PRICING (a) Marginal productivity theory (b) Concept of Rent, Profit and Wages.

UNIT 3: THEORY OF PRODUCT PRICING Market forms; Cost and Revenue Analysis; Price and output determination under Perfect competition, Imperfect competition and Monopoly

Unit 2 of existing course subsequently shifted to unit 3. Cost and revenue analysis has been added as it is essential to understand market competitions

4. ECH 101 UNIT 4: MONEY AND BANKING (a) Quantity theory of money (b) The money market-features of Indian money market (c) Credit creation and credit control (d) Role of Central Bank.

UNIT 4: THEORY OF FACTOR PRICING Nature of Factor Market; Marginal productivity theory; Concept of Rent, Wages, Interest and Profit

Unit 3 has been shifted to unit 4 and unit 4 has been deleted and some of its components have been added to unit 5

5. ECH 101 UNIT 5: INFLATION, RECESSION AND TAXATION (a) Meaning, causes, consequences and control of

UNIT 5: INFLATION AND RECESSION Meaning, causes, consequences and control of Inflation, Recession and Stagflation; Commercial Banks: Functions, Credit Creation and New

Taxation has been deleted from unit 5.

Inflation (b) Taxation-Principles, incidence and Impact of Taxation.

Products; Role of Central Bank and credit control

Note: Reading list has been revised

ECH 102

1 Department proposing the course Economics 2 Course Title Introduction to Indian Economy 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)

min.pds./sem.:39 4 Credits 3 5 Course Number ECH102 6 Status Half Course 7 Status vis- a – vis other course (course

number/ title) NA


NA


aims To orient the non-economic students with the basic structure and working of Indian Economy

S. No.

Course No.

Existing Contents Revised Justification

1. ECH 102

UNIT 1: MAIN CHARACTERISTICS OF INDIAN ECONOMY Indicators of development; National Income- Estimates, composition, trends and distribution.

UNIT 1: CHARACTERISTICS OF INDIAN ECONOMY Indicators of economic development; Difference between growth and development; National Income- Estimates, composition, trends and distribution; Recent measurement of National Income; HDI and its components; GEM; PQLI

Recent measurement of National Income; HDI and its components; GEM; PQLI have been added to impart knowledge about recent developments.

2. ECH 102

UNIT 2: POPULATION DYNAMICS Problems of population explosion; population and economic development; population policy, size, growth rate, composition of population in India.

UNIT 2: POPULATION DYNAMICS Problems of population explosion; population and economic development; population policy; size, growth rate, composition of population in India; Age Pyramid; Demographic dividend

Age Pyramids and Demographic dividend have been added to study population transition concepts.

3. ECH 102

UNIT 3: AGRICULTURE AND RURAL DEVELOPMENT Role and importance of agriculture in the Indian Economy; productive trends; Green Revolution; Rural poverty and unemployment; Rural development Programmes. INDA, NREGA

UNIT 3: AGRICULTURE AND RURAL DEVELOPMENT Role and importance of agriculture in the Indian Economy; productive trends; Green Revolution; Rural poverty and unemployment; Rural development Programmes; MNREGA; NRLM; Agricultural diversification;

Some important concepts like NRLM; Agricultural diversification; Rainbow revolution have been added. INDA has been deleted as it is not associated with the unit contents.

Rainbow revolution

4. ECH 102

UNIT 4: INDUSTRY AND TRADE Industrial finance; Industrial labour problems and characteristics; Industrial disputes causes and resolving machinery; Trade policy- Export Promotion and Import substitution.

UNIT 4: INDUSTRY AND TRADE Industrial finance; Industrial labour problems and characteristics; Industrial Policy 1991; MSMEs; Make in India and Skill Development; Export Promotion and Import substitution.

Industrial Policy 1991; MSMEs; Make in India and Skill Development; have been added to impart knowledge regarding recent changes.

5. ECH 102

UNIT 5: NEW ECONOMIC REFORMS New Industrial policy (latest): Main features; Privatisation-Meaning and objectives; Multinationals- Meaning and extent of operations, Merits and demerits of MNC’s.

UNIT 5: NEW ECONOMIC REFORMS Liberalisation, Privatisation and Globalisation -Meaning and objectives; Multinationals- Meaning, Role and extent of operations

Industrial Policy has been shifted to unit 4 as it aligns best with unit 4


ECW101 1 Department proposing the course Economics 2 Course Title Banking and Finance 3 L-T-P Structure Periods (55 mts. Each)/week:4 (L-2+T-0+P-2)

min.pds./sem.:48 4 Credits 2 5 Course Number ECW101 6 Status Work Experience 7 Status vis- a – vis other course (course

number/ title) NA


NA


aims To promote and develop sound and progressive banking principles, practices and conventions in students, and expose them to creative banking.

S. No.

Course No.


1. ECW 101

UNIT 1: OPENING & HANDLING OF ACCOUNTS Types of bank Accounts & opening a bank account, bank Account statement pass Books.

UNIT 1:TYPES OF BANKS Commercial banks, Development Banks, Cooperative Banks, Private and Foreign Banks, Regional Rural Banks

It is felt important to start the course with different types of banks to give an overview to banking system.

2. ECW 101

UNIT 2: CHEQUES Definition, Parties to a cheque, order & bearer cheque scrutiny of cheques crossing and endorsement of cheques, ATM and uses of E-Cards for banking Transactions.

UNIT 2: BANKING OPERATIONS Types of bank Accounts & opening a bank account, bank Account Statement Pass Books Cheque: Definition, Parties to a cheque, order & bearer cheque, multicity cheque; scrutiny of cheques crossing and endorsement of cheques, bank commissions on cheque and draft; ATM and uses of E-Cards for banking Transactions; Pay in slips; Draft; operational differences between public and private sector banks

Unit 2 and 3 have been merged and reframed as Banking operations. Contents have been specified to clarify course coverage

3. ECW 101

UNIT 3: PAY IN SLIP & DRAFTS Pay in slips: What is paying in slip? Why is a pay in slip required, precautions while filling pay in slips Draft – Meaning and making a demand draft.

UNIT 3: E- BANKING Overview of E-Banking Arena; Electronic Delivery Channels and Products- Telephony, Internet, Mobile Phones; Electronic Payment System, NEFT, RTGS, M- Banking

E- Banking has been introduced to make students aware about recent developments in banking operations.

4. ECW 101

UNIT 4: FINANCIAL ASSETS Rates of return, liquidity and risk, types of financial assets:- Government securities. Corporate Equities (Debentures), Promissory notes, Commercial bills, Treasury bills, Mutual Funds.

UNIT 4: FINANCIAL ASSETS Rates of return, liquidity and risk, types of financial assets:- Government securities. Corporate Equities (Debentures), Promissory notes, Commercial bills, Treasury bills, Mutual Funds; Non Performing Assets

Non Performing Assets has been added

5. ECW 101

UNIT 5: INTERNET BANKING Overview of E-Banking Arena; Electronic Delivery Channels and Products- Telephony, Internet, Mobile Phones; Electronic Payment System.

UNIT 5: PROJECT BASEDON REAL TIME ISSUES

Contents of unit 5 have been shifted to unit 3 as it aligns best with unit 3. Unit 5 has been amended to provide application base to the course.

Note: Reading list has been added

ECM 101

1 Department proposing the course Economics 2 Course Title Principles of Microeconomics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)

min.pds./sem.:39 4 Credits 3 5 Course Number ECM101 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA


aims To help students to understand the behaviour of individuals and small organizations in making decisions on the allocation of limited resources.

S. No.

Course No.


1. ECM 101

UNIT 1: NATURE AND SCOPE OF ECONOMICS Wants and Resources, Economic Problem; Types of Economic System; Role of Price Mechanism; Positive and Normative Economics; Micro and Macro Economics.

UNIT 1: NATURE AND SCOPE OF ECONOMICS Meaning and Definitions of Economics; Scarcity and Choice; Economic Problem; Opportunity sets; Economic System; Role of Price Mechanism; Positive and Normative Economics; Microeconomics and Macroeconomics

Introductory concepts of economics have been inserted to set a base.

ECM 101

UNIT 2: THEORY OF CONSUMER'S BEHAVIOUR Marginal Utility Analysis; Indifference curve analysis, Law of demand; Elasticity of demand-types, effects and methods of measurement; Law of supply, Consumer Surplus; Engel Curve

UNIT 2: THEORY OF CONSUMER BEHAVIOUR Demand; Law of demand; Elasticity of demand-degrees, types and methods of measurement; Law of supply; Utility Analysis; Indifference curve analysis; budget constraints; the consumption decision; Consumer Surplus; Engel Curve

Sequence has been changed as per the logical order

ECM 101

UNIT 3: THEORY OF PRODUCTION Fixed and variable inputs; Law of variable proportions; Internal and External economies; Concept of cost equilibrium between supply and demand in the market.

UNIT 3: THEORY OF PRODUCTION Fixed and variable inputs; Production function- Short Run and Long Run; Law of variable proportions; Isoquants; Returns to scale; Internal and External economies; Concept of cost

Sub- concepts have been added for bringing clarity.

ECM 101

UNIT 4: THEORY OF PRODUCT-PRICING Market forms; Price and Output determination under perfect competition, imperfect competition and monopoly.

UNIT 4: THEORY OF PRODUCT-PRICING Market forms; Price and Output determination under perfect competition, imperfect competition; monopoly and anti – trust policy; government policy towards competition

Anti – trust policy; government policy towards competition has been added to make aware with changing regime of competition.

ECM 101

UNIT 5: THEORY OF FACTOR-PRICING Nature of factor market; Pricing of factors of production; Marginal

UNIT 5: THEORY OF FACTOR-PRICING Nature of factor market; Pricing of factors of production; Marginal Productivity

Interest has been added to complete the factor market

Productivity theory; Concept of Rent, Quasi-Rent Profit, Wages.

theory; Concept of Rent, Quasi-Rent, Wages, Interest and Profit


ECM 102 1 Department proposing the course Economics 2 Course Title Indian Economic Development – I 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)

min.pds./sem.:39 4 Credits 3 5 Course Number ECM102 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA


aims It helps in developing understanding of the students related to different sectors of Indian Economy and how planning and infrastructure support can develop it.

S. No.

Course No.


1. ECM 102

UNIT 1: BASIC FEATURES Main Characteristics of the Indian Economy-Indicators of development; National Income-Estimates, Composition trends and distribution, Limitations of National Income estimates in India.

UNIT 1: THE INDIAN ECONOMY: AN OVERVIEW Developed and less developed Economy: meaning and Concept, Characteristics of Indian Economy; Recent measurement of National Income; Comparison of Indian Economy with Developed countries

Title of the unit reframed and comparison of Indian economy with developed nations have been added

2. ECM 102

UNIT 2: AGRICULTURE & RURAL DEVELOPMENT Role and importance of agriculture in the Indian Economy Productivity trends, Green Revolution, Rural Poverty and Unemployment; Rural Development Programmes-IRDA-Performance, Impact and problems in implementation, Swarn Jayanti Shahri & Gramin Swarozgar Yojna. NREGA-Problems and Prospects

UNIT 2: INDIAN AGRICULTURE Characteristics of Indian agriculture, Growth; productivity; agrarian structure and technology; capital formation; Green Revolution strategy and its effects, Agriculture in the post-Reform India; Pricing and procurement; NRLM

Title has been reframed and contents have been revised as per the title. Outdated schemes have been deleted.

3. ECM 102

UNIT 3: INDUSTRY Industrial Development Strategies during the planning Period; Industrial policy of 1948, 1956, 1977 & 1991; Industrial Licensing Policy- MRTP Act, FERA, FEMA; Problems of large and small industries.

UNIT 3: INDIAN INDUSTRY AND PLANNING Composition of Indian industry; Growth, productivity, diversification; MSMEs; Competition Act; foreign investment; Industry in the post-reform India; Industrial

Planning has been added to unit 3

Policy 1991, Need and importance of planning in India, overview of planning in India, NITI Aayog

4. ECM 102

UNIT 4: ROLE OF GOVERNMENT Economic Planning and Regulation, Five years Plan – Objectives and achievements

UNIT 4: TERTIARY SECTOR Trends and Performance in Tertiary sector, Govt initiatives to develop tertiary sector after 1991- increasing contribution of tertiary sector to employment, income and exports

Contents of unit 4 have been shifted to unit 3 and it is replaced with tertiary sector

5. ECM 102

UNIT 5: NEW ECONOMIC POLICY Liberalisation, Privatisation, Globalization, Disinvestment Policy

UNIT 5: INFRASTRUCTURE & HUMAN RESOURCE Role of Infrastructure in Economic Development-Physical Infrastructure-Natural Resources, Forest, Water, Land, Mineral, Energy Resources, Transport and Communication; Human Resource; HDI and its components; GEM; PQLI

Unit 5 has been replaced with infrastructure and human resource as this part of Indian Economy reflects various sectors of the economy

Note: Nomenclature has been changed from Indian Economy: Structure and Development to Indian Economic Development – I in align with other universities. Reading list has been revised

ECW 201

1 Department proposing the course Economics 2 Course Title Introduction to Computer Applications 3 L-T-P Structure Periods (55 mts. Each)/week:4 (L-2+T-0+P-2)

min.pds./sem.:48 4 Credits 3 5 Course Number ECW 201 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA


aims The course describes an alternative approach to teaching content by using computer applications that emphasize the empirical testing or applications of the theory.

S.

No. Course No.


1. ECW 201

UNIT 1: INTRODUCTION TO COMPUTERS Input & out devices, printers and scanners

UNIT 1: INTRODUCTION TO COMPUTERS Introduction to computer hardware, computer generation, functional description of computer building, computer networking and resource sharing, introduction to computer software, classification of software

Contents have been specified.

2. ECW 201

UNIT 2: MS WORD Introduction, Editing in MS Word

UNIT 2: TOOLS FOR OFFICE AUTOMATION Word processing using MS-Word; Familiarization with menu and icons, creating files, fonts, formatting paragraph, header and footer, printing, advanced features, presentation using MS Power Point, familiarization with menus & icons, different views of a presentation, slide show, printing slides.

Unit title has been changed and contents have been specified for clarity

3. ECW 201

UNIT 3: WORKING WITH WINDOW XP Parts of windows, applications, file management.

UNIT 3: STATISTICAL PROCESSING TECHNIQUES USING MS EXCEL Features, general spreadsheet concepts, editing commands, analysis, tabulation & graphs, formula and functions, financial and statistical function data management


4. ECW 201

UNIT 4: MS EXCEL Introduction & applications.

UNIT 4: DATA PROCESSING TECHNIQUES & METHODS Concept of data, record and file, types of data and data structure, data analysis, file handling and operation appending etc., data storage and retrieval, data operating-sorting, merging, joining etc., database concepts and operation on database


5. ECW 201

UNIT 5: MS POWER POINT Introduction & applications.

UNIT 5: IT APPLICATION TO ECONOMICS Networking and Internet application, Internet information services, browser, Internet application- email, e-banking, banking projects etc., agricultural finance, loans and advances, consumer group finances, home finances etc.


Note: To avoid repetitions ECM 503 has been merged with ECW 201 Reading list has been added

ECM201 1 Department proposing the course Economics 2 Course Title Principles of Macroeconomics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)

min.pds./sem.:39 4 Credits 3 5 Course Number ECM 201 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA


aims To make student aware of the basic theoretical framework underlying the field of macroeconomics. It helps students to study the aggregates and to provide overall idea about national economic policies and its implications.

S. No

Course No.


1. ECM 201 UNIT 1: NATIONAL INCOME & SOCIAL ACCOUNTS National Income- Meaning, various concepts and methods of measurement. National Income and Economic Welfare, circular flow of economic activities.

UNIT 1: INTRODUCTION TO MACROECONOMICS AND NATIONAL INCOME ACCOUNTING Basic issues of macroeconomics; National Income- meaning, various concepts and methods of measurement; income expenditure and circular flow; real versus nominal GDP; price indices; National Income accounting for an open economy; National Income and economic welfare

Introduction to macroeconomics has been added to give the logical start to the course. Contents have been specified.

2. ECM 201 UNIT 2: CLASSICAL THEORY OF EMPLOYMENT Classical theory of employment-Element of the complete classical model, Say's Law; Keynes criticism of the classical theory.

UNIT 2: CLASSICAL THEORY OF EMPLOYMENT Classical theory of employment-elements of the complete classical model; Keynes criticism of the classical theory

No change

3. ECM 201 UNIT 3: GENERAL THEORY OF EMPLOYMENT OF KEYNES Aggregate Demand and Aggregate Supply Curves, Effective Demand Determination and Importance, Consumption Function, Investment Function, Multiplier and Accelerator.

UNIT 3: GENERAL THEORY OF EMPLOYMENT OF KEYNES Aggregate Demand and Aggregate Supply Curves, effective demand determination and importance, Consumption Function, Investment Function, Multiplier and Accelerator

No change

4. ECM 201 UNIT 4: MONEY AND BANKING Quantity Theory of Money, Fisher's Cash Transactions Approach Cambridge Cash Balance Approach. The Money Market, Role of Central Bank, Concept of Money Supply (M1, M2, M3, M4), High Powered Money.

UNIT 4: MONEY AND BANKING Quantity Theory of Money: Fisher's cash-transactions approach, Cambridge cash-balance approach; determination of money supply and demand; credit creation; tools of monetary policy

Credit creation and tools of monetary policy have been added to give better understanding of monetary policy

5. ECM 201 UNIT 5: INFLATION AND RECESSION Meaning, Inflationary gap, Types of Inflation, Philips Curve, Causes, Consequences and Control of

UNIT 5: INFLATION AND BUSINESS CYCLE Meaning; types of Inflation; Philip Meaning; types of Inflation; Philips curve; causes, Concept and

Title of the unit has been rephrased to represent the contents better. Business cycle has

Inflation, Stagflation. Role of Fiscal & Monetary Policy to control Inflation.

phases of trade cycle, consequences and control of inflation and recession; stagflation; Role of Fiscal and Monetary Policy to control inflation

been added to complement the unit.


ECM202

1 Department proposing the course Economics 2 Course Title Money, Financial Markets and Institutions 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA


aims To understand the conceptual framework of financial market and institutions of India, majorly.

S. No.

Course No.


1. ECM 202

UNIT 1: INFRASTRUCTURE Role of Infrastructure in Economic Development-Physical Infrastructure-Natural Resources, Forest, Water, Land, Mineral, Energy Resources, Transport and Communication.

UNIT 1: MONEY & FINANCIAL MARKETS Money market and Capital market: An Overview; Bond Market; Foreign Exchange Market; Financial Regulations

Unit 1 has been shifted to the course ECM 102. An introductory unit has been devised.

2. ECM 202

UNIT 2: INDIAN MONETARY AND CREDIT SYSTEM Reserve Bank of India (RBI), Commercial Banks and other Financial Institutions, Monetary Policy, Banking System.

UNIT 2: INDIAN MONETARY AND CREDIT SYSTEM Reserve Bank of India (RBI), Commercial Banks and other Financial Institutions, Monetary Policy, Banking System.

No change

3. ECM 202

UNIT 3: INDIAN PUBLIC FINANCE Growth of Public Expenditure; Sources and trends in public revenue; Public Debt-Meaning, types, methods of debt redemption; Concepts of Deficit Financing in India.

UNIT 3: FINANCIAL REFORMS Bank Reforms - Interest Rate, Deregulation, Capital Market Reforms, Gurley and Shaw Approach

Unit title and contents have been changed

4. ECM 202

UNIT 4: FINANCIAL MARKETS Bond Market, Foreign Exchange Market, Equity Market

UNIT 4: NON BANKING FINANCIAL INTERMEDIARIES Comparison between commercial banks and NBFIs; NBFIs: Definitions, types; Central bank’s control over the NBFIs

Contents have been shifted to unit 1. NBFI has been introduced

5. ECM 202

UNIT 5: FINANCIAL REFORMS Bank Reforms-Interest Rate, Deregulation, Capital Market Reforms

UNIT 5: INDIAN EXPERIENCE OF THE FINANCIAL MARKET Current Regulatory Architecture of India, factors, policies, and institution, financial intermediation, financial access, financial

Indian experience is required to give better understanding

inclusion

Note: The course has observed major changes in terms of nomenclature, unit titles and contents. This is done to align the subject with other universities. Reading list has been revised

ECM 301

1 Department proposing the course Economics 2 Course Title Development Economics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA


aims This course will provide students the strong foundation regarding different models of development and will help them in engaging with the economic, political and social dimensions of development policies.

S. No.

Course No.


1. ECM 301

UNIT 1: PROBLEMS OF ECONOMIC DEVELOPMENT Growth v/s Development; Difficulties of measurement of Development; Indicators, characteristics and Determinants of modern Economic Growth, Quality of Life- Dimensions & measures Obstacles to Development. Millennium Development Goals.

UNIT 1 BASIC CONCEPTS OF ECONOMIC DEVELOPMENT Economic Growth and Development, Concept of underdevelopment and basic characteristics; Determinants and Measurement indicators, New Challenges to development: Human Development Index and Quality of Life; Sustainable Development.

Unit title has been changed to make it more relevant with the contents. HDI and Sustainable development have been introduced

2. ECM 301

UNIT 2: GROWTH MODELS Classical Model-Smith & Ricardo; Marxian Model-Theory of Surplus Value; Process of Capitalistic Development & Causes of its Downfall; Neo-Classical Model-Meade & Mrs. Joan Robinson; Harrod Domar Model-Dual role of Investment.

UNIT 2: APPROACHES TO DEVELOPMENT Mixed Economy Approach, Lewis Dual Economy Model, Lebenstein Critical Minimum Effort Theory, Balanced Vs. Unbalanced Growth Theories.

The contents of units 2 and unit 3 have been interchanged with slight modifications to make course more systematic.

3. ECM 301

UNIT 3: THEORIES OF GROWTH Vicious Circles of Poverty; Critical Minimum Efforts Thesis-Leibenstein; Theory of Big Push-Rodan; Balanced V/s Unbalanced Growth; Stages of Growth-Rostow.

UNIT 3: ECONOMIC DEVELOPMENT AND GROWTH THEORIES & MODELS Theories of Economic Development – Classical, Marx and Schumpeter Models of Economic Growth-Harrod-Domar model and Solow

The contents of units 2 and unit 3 have been interchanged with slight modifications to make course more systematic.

model.

4. ECM 301

UNIT 4: SECTORAL VIEW OF DEVELOPMENT Agriculture & Development; Role of Industry in Development; Role of Capital Formation in Economic Development; Role of Human Capital Formation in Economic Development; Human Development Index; Disguised Unemployment as a Source of Potential Saving.

UNIT 4: POVERTY AND INEQUALITY: DEFINITIONS, MEASURES AND MECHANISMS Inequality axioms; a comparison of commonly used inequality measures; connections between inequality and development; poverty measurement; characteristics of the poor; mechanisms that generate poverty traps and path dependence of growth processes.

The contents of units 4 and unit 5 have been interchanged with slight modifications to make course more systematic

5. ECM 301

UNIT 5: GROWTH AND DISTRIBUTION Relationship between growth & income distribution, Concept and measurement of poverty, Relationship between deprivation & poverty

UNIT 5: RESOURCES AND DEVELOPMENT Natural resources, population, Capital, human resource development and infrastructure, Role of education, research and knowledge – explanation of cross country differentials in economic growth and development.

The contents of units 4 and unit 5 have been interchanged with slight modifications to make course more systematic

Note: The changes have been done in nomenclature, unit titles and contents as per the observations of experts regarding syllabi of other universities. Reading list has been revised

ECM 302

1 Department proposing the course Economics 2 Course Title Public Economics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? No 11 Course objectives including motivation

and aims It will give students the necessary background of different sources of government revenue and expenditure pattern and will enable them to understand budgetary issues.

S. No.

Course No.


1. ECM 302

UNIT 1: Nature and Scope of Public Finance; Role of Government in the Economy, Difference between Private & Public Finance; Objectives, Significance of Public Finance. Concept of Public Goods & Collective wants (basic).

UNIT 1: PUBLIC ECONOMICS THEORY Fiscal Functions: An Overview; Public Goods: Definition, Models of Efficient Allocation, Pure and Impure Public Goods, Free Riding; Externalities, The Problem and its Solutions, Market failure; Property Rights; the Coase Theorem.

Contents have been reorganized as per the change in nomenclature of the course. The contents have been modified by adding topics like Externalities, Market failure; Property Rights; the Coase Theorem.

2. ECM 302

UNIT 2: SOURCES OF PUBLIC REVENUE Taxation-Classification, Principles; Characteristics of a good tax system, Impact Incidence and shifting of Taxation, Effects of Taxation. VAT-Appraisal, Black Money

UNIT 2: SOURCES OF PUBLIC REVENUE Taxation: its economic effects; dead weight loss and distortions; efficiency and equity considerations; different approaches to the division of tax burden; tax incidence; optimal taxation (concept); Elasticity and buoyancy, taxable capacity.

Contents have been elaborated, new and relevant issues have been incorporated

3. ECM 302

UNIT 3: PUBLIC EXPENDITURE Trends in Public Expenditure & Causes of growth of public expenditure In India. Meaning, classification, Principles, Role of Public Expenditure in a developing Economy, Deficit financing-measurement and economic effects

UNIT 3: PUBLIC EXPENDITURE AND DEBT Public Expenditure – Hypotheses, effects and evaluation; Public Debt -Sources, effects, burden and its management; Deficit Financing

Unit 4 has been merged with unit 3.

4. ECM 302

UNIT 4: PUBLIC DEBT Sources of public borrowing; effects of public debt, methods of debt redemption; Growth of India’s debt

UNIT 4: BUDGET Kinds of budget; Zero base budgeting; different concepts of budget deficits, Balance budget multiplier; Budget of union government of India

Budget has been shifted from unit 5 to unit 4 as it is important part of public economics.

5. ECM 302

UNIT 5: FINANCIAL ADMINISTRATION Fiscal Federalism in India; The Public Budget- Cannons of Budgeting, Characteristics of a good Budget, Kinds of budget-economic & functional classification of the budget preparation and passing budget in India.

UNIT 5: INDIAN PUBLIC FINANCE Indian Tax System: structure and reforms; Deficits and public debt; Fiscal federalism in India-Theories and problems of center - state financial relations in India, Horizontal and vertical imbalances, Finance Commission, Fiscal policy and fiscal reforms in India.

Unit title and contents have been amended as per the logical sequencing of the subject. Few important topics have been added.

Note: Nomenclature of the subject has been changed from Public Finance to Public Economics as per the nomenclature adopted by other universities. Reading list has been revised

ECM 303

1 Department proposing the course Economics 2 Course Title Statistical Methods for Economics –I 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA


aims This course will help the students understand the issues regarding data collection, processing organizing and presentation and the issues involved therein.

S. No.

Course No.


1. ECM 303

UNIT 1: Methods of Collection, Classification and Tabulation of Data; Simple Diagrammatic and Graphic Method of presentation of Data-bar Diagram, Pie Diagram, Histogram, Polygons and Ogives.

UNIT 1: BASIC CONCEPTS AND DATA PRESENTATION Definition and Role of Statistics; The distinction between populations and samples and between population parameters and sample statistics; Data collection; Classification and Tabulation of Data; Frequency distribution and its diagrammatic representation -Simple and Graphic Method of presentation, Data-bar Diagram, Pie Diagram, Histogram, Polygons and Ogives [Practice with excel]

Unit title has been added which was missing earlier. Some topics like sample and population concepts have been added to provide complementarily to the subject. Also excel practice is added to ensure students have hands on experience of working at MS-Excel.

2. ECM 303

UNIT 2: Measures of Central Tendency-Mean, Median and Mode, Geometric Mean and Harmonic Mean.

UNIT 2: MEASURES OF CENTRAL TENDENCY Measures of Central Tendency-Arithmetic Mean, Median and Mode; comparisons of mean, median and mode; Geometric Mean and Harmonic Mean; simple and weighted averages [Practice with excel]

Practice with excel and weighted average has been added to complete the study of range of different means.

3. ECM 303

UNIT 3: Measure of Dispersion-Range, Variance, Q.D., M.D. and S.D. and Coefficient of variation,

UNIT 3: MEASURES OF DISPERSION Range; Mean Deviation; Quartile Deviation and

Skewness has been shifted to unit four as it is aligned with the contents

Skewness-Concept & Measurement.

Standard Deviation; Measures of Relative Dispersion, Coefficient of variation, Curve of Concentration; Measures of economic inequality [Practice with excel]

of unit four

4. ECM 303

UNIT 4: Index Numbers-Concepts, Laspeyre’s, Paasche and fixed weight formulae, Fisher’s Index Number.

UNIT 4: SKEWNESS AND KURTOSIS Skewness: meaning of skewness and symmetry of distribution; different measures of skewness; definition, types and measures of kurtosis; Karl Pearson’s coefficient of kurtosis. [Practice with excel]

Index number has been removed as it has been added with time series in the ECM 503 course.

5. ECM 303

UNIT 5: Correlation-Meaning and types of Correlation, Degree of Correlation, Karl Pearson’s Coefficient of correlation, Rank Correlation Coefficient-Spearman’s Method.

UNIT 5: ELEMENTARY PROBABILITY THEORY Elements of Probability Theory: Sample Space, Probability Space, Events, Classical; Definition of Probability; The Addition Rule, The Multiplication Rule, Theorems of Total Probability, Conditional Probability and Statistical Independence; Limitations of the Classical definition, Frequency definition, Axiomatic Approach, Bayes’ Rule [Practice with excel]

To maintain logical sequencing of the contents elementary probability theory has been replaced with correlation. Correlation has found its way in the ECM 503 along with regression.

Note: As per the experts’ suggestions theory must be coupled with application. Therefore practice with excel has been incorporated in each unit. Reading list has been revised.

ECM 401

1 Department proposing the course Economics 2 Course Title Monetary Economics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA


aims Students will have the fundamental understanding of core issues in the light of theories concerning the role of money, interest rate and inflation.

S. No.

Course No.


1. ECM 401

UNIT 1: MONEY & PRICES Fishers Transactions Approach to the QTM; Cambridge Cash Balance Approach; The Keynesian Theory of Money & Prices; The Modern Quantity Theory of Money-Friedmans approach; Integration of Monetary Theory & Value theory-Keynes & Patinkin.

UNIT 1: DEFINITION, FUNCTIONS AND THEORIES OF MONEY Money and its function; the concepts and definitions of money; measurement of money; advantages of money; theories of demand for money: the transactions and cash balance approach, the Keynesian analysis, Post Keynesian developments and Monetarist approach.

The unit 1 of existing course has been modified and unit 3 of existing course clubbed with unit 1 in revised course.

2. ECM 401

UNIT 2: MONEY SUPPLY Meaning; Determinants, Creation of Money; Central Bank’s measures of Money Supply (M1, M2, M3, M4); High powered Money & Money Multiplier; Velocity of Creation of Money.

UNIT 2: MONEY SUPPLY Financial Intermediaries- Nature and functions; theories of money supply; mechanistic model of money supply determination ; high powered money and behavioral model of money supply determination; methods of monetary control – Interest rates in closed and open economies – theories of term structure.

Contents have been elaborated

3. ECM 401

UNIT 3: DEMAND FOR MONEY Classical Theory; Keynesian Demand Function for Money; Friedman's Theory of Wealth; Recent development in Keynesian Demand Function for Money-Baumals Inventory Theory; Tobin;s Liquidity Preference as behaviour towards Risk, Emprical Evidence on Demand for Money.

UNIT 3: MONETARY TRANSMISSION MECHANISM Meaning – interest rate channel, credit channel, bank lending channel, balance sheet channel, exchange rate channel, other asset price channels.

New unit added

4. ECM 401

UNIT 4: THEORIES OF INTEREST Theories of Interest-Classical; Keynesian; Modern Theory; Structure of Interest Rates; Heterogeneity of Interest Rate determination, Interest Rate differentials, Deficiencies in the prevailing system of Administrated rate of Interest.

UNIT 4: MONEY AND THE THEORY OF INTEREST Real and monetary theories of interest rates-the term structure and the yield curve- determination of equilibrium exchange rates

Contents have been modified as per the change in the title.

ECM 402 1 Department proposing the course Economics 2 Course Title International Economics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA


aims It will orient the students in understanding economic interaction among different countries and offers an insight into the different international policies.

5. ECM 401

UNIT 5: THEORIES OF INFLATION Keynes Inflationary Gap, Demand Pull Inflation; Bent Hansen Dynamic Model of demand pull inflation; Cost push inflation; Demand Pull Inflation; Philips Curve; Stagflation, Rationale Expectation Hypothesis (introductory).

UNIT 5: COMMERCIAL AND CENTRAL BANKING Commercial banks-Functions and the process of credit creation, Banking sector reforms in India; Microfinance: Concept and progress in India; Central banks- objectives and methods of credit control; Monetary Policy: Objectives, Targets and indicators, Monetary policy of RBI: An overview.

Conceptual terminologies have been changed to give updated dimension to the subject. Commercial and Central banking have been inserted in lieu of Theories of inflation (Unit-5) to avoid duplication of content as it has already been covered.

Note: The nomenclature has been changed as per the nomenclature adopted by other universities. There is a change in titles of the units to make them relevant with the course contents.

S. No.

Course No.


1. ECM 402

UNIT 1: THEORY OF INTERNATIONAL TRADE Difference between International trade and National trade. The comparative Cost Theory; The Opportunity Cost Theory; Hecksher Ohlin Theory; Terms of Trade-Factors determining terms of Trade; Causes of adverse terms of trade in developing nations.

UNIT 1: THEORIES OF INTERNATIONAL TRADE Difference between International trade and National trade; The comparative Cost Theory; The Opportunity Cost Theory; Hecksher Ohlin Theory; Terms of Trade-Factors determining terms of Trade; Causes of adverse terms of trade in developing nations.

No change

2. ECM 402

UNIT 2: FREE TRADE V/s PROTECTION Free trade and protection, Tariffs- Types and effects; Quotas and other quantitative restrictions.

UNIT 2: TRADE POLICY Protectionism vs Free trade; Instruments of trade policy; Political economy of trade policy; Controversies in trade policy

Unit 2 has been newly framed to give a better insight to the students regarding trade policies.

3. ECM 402

UNIT 3: FOREIGN EXCHANGE AND EXCHANGE CONTROLS Fixed and Flexible exchange rates; Spot and Forward Rates, Determination of Exchange Rate-Mint-Par Parity Theory and Purchasing Power Parity Theory; Convertibility of currency & devaluation. Currency Swaps – Foreign Exchange Risks, Hedging and Speculation

UNIT 3: FOREIGN EXCHANGE AND EXCHANGE CONTROLS Fixed and Flexible exchange rates; Spot and Forward Rates, Determination of Exchange Rate-Mint-Par Parity Theory and Purchasing Power Parity Theory; Convertibility of currency & devaluation. Currency Swaps – Foreign Exchange Risks, Hedging and Speculation

No change

4. ECM 402

UNIT 4: BALANCE OF PAYMENTS Meaning and Structure; Balance of Trade and Balance of Payment; Causes and measures to Correct dis-equilibrium in Balance of Payments. Current & Capital accounts.

UNIT 4: BALANCE OF PAYMENTS Meaning and Structure; Balance of Trade and Balance of Payment; Causes and measures to correct dis-equilibrium in Balance of Payments. Current & Capital accounts

No change

5. ECM 402

UNIT 5: INTERNATIONAL MONETARY SYSTEM The IMF, The World Bank (IBRD) and GATT/WTO.

UNIT 5: INTERNATIONAL INSTITUTIONS The IMF; The World Bank, The WTO; Trade Blocks- SAARC, ASEAN, BRICKS, EU, ADB

Trade blocks have been added to unit 5 to give specific understanding of international blocks and its impact on international trade

Note: The course number has been changed Reading list has been revised

ECM 403

1 Department proposing the course Economics 2 Course Title Mathematical Methods for Economics 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA


aims The student is exposed to economic concepts in mathematical format through simple illustrations and prepares the ground for more scientific study.

S. No.

Course No.


1. ECM 403

UNIT 1 Equations-Solutions of Linear Equation, Quadratic equation (solution only) Use of Linear equations in economics.

UNIT 1 INTRODUCTION Principle of Mathematical Induction, Complex Numbers and Quadratic Equations, Log, Antilog: characteristics; Surds and Indices (laws), Binomial theorem (elementary)

Log, Antilog Surds have been shifted to unit 1 from unit 2 which help students in setting the base regarding representing a number and how it can be used.

2. ECM 403

UNIT 2 Logarithms-meaning, characteristics and law, Surds and Indices (laws), Binomial theorem (elementary).

UNIT 2 BASIC CONCEPTS, FUNCTIONS AND GRAPHS Sets and set operations; Ordered pairs; the real numbers; natural numbers; integers; rational and irrational numbers; absolute value and intervals; inequalities. The general concept of function, types of function (linear, quadratic, power, exponential, inverse); graphs of functions; Applications in Economics

Second unit has been changed and its earlier contents have been shifted to first unit. Current contents are added to orient the student regarding algebraic operations required and help them with graphs.

3. ECM 403

UNIT 3 Determinants-Introduction, Expansion of 2nd order and 3rd order determinants; Properties, Minors, Cofactors, Properties of determinants, Cramer's rule. Matrices-Introduction, Types, Basic operations-addition, Subtraction, Multiplication determinants, transpose, adjoint and inverse of a square

UNIT 3 DETERMINANTS Introduction, Expansion of 2nd order and 3rd order determinants; Properties, Minors, Cofactors, Properties of determinants, Cramer's rule Matrices-Introduction, Types, Basic operations-addition, Subtraction, Multiplication determinants, transpose, ad joint and inverse of a square

No change

matrix, system of linear equation and economic application of matrices.

matrix, system of linear equation and economic application of matrices.

4. ECM 403

UNIT 4 Differential Calculus-Differentiation, rules of differentials, economic applications, Logarithmic derivation and evaluation of elasticities; Partial derivatives and their economic applications.

UNIT 4 LIMITS, CONTINUITY AND SINGLE VARIABLE DIFFERENTIAL CALCULUS Limits, continuity and differentiability, rules of differentiation (simple differentiation, sums, products, and quotients); Second and higher order derivatives, power rule, chain rule, implicit differentiation; Linear approximation and differentials; Quadratic approximations, Elasticities the Intermediate-value Theorem; the Extreme-value Theorem; The Mean-value Theorem; Indeterminate forms and L’Hopital’s rule; Applications in Economics

The contents of this unit are expanded and specific sub topics are stated for better and specific understanding of the subject.

5. ECM 403

UNIT 5 Elementary Integral Calculus, Consumer Surplus and Producer Surplus. Economic Application of Integration.

UNIT 5 SINGLE VARIABLE OPTIMIZATION AND INTEGRAL CALCULUS Stationary points of a function, Maxima and Minima(local and global); Convexity and Concavity of functions; Points of inflection; Optimization of economic functions Rules of integration, integration by parts, integration by substitution, indefinite integral, Definite Integral, Proper and Improper integral; Areas under curves and economic application of integration

The contents are expanded and specific sub topics are stated for better and specific understanding of the subject.

Note: This course has been transferred from ECM 604 to this level to give mathematical orientation to the students so that they are able to understand the course ECM 501 and economics model properly. It has been made mandatory to those students who wish to pursue Economics Honours Reading list has been revised

ECM 406 1 Department proposing the course Economics 2 Course Title Demography 3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0)


number/ title) NA


NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? Yes 11 Course objectives including motivation and

aims The course educates the students about the inter-relationship between economic development and population, along with an exposition of the established theories of population.

S. No.

Course No.


1. ECM 406

UNIT 1: Concept and Scope of Demography; Relationship with other sciences; Significance of Demographic study; Rates and Ratio-Sex Ratio, Child-Women Ratio, Density of Population Growth Rate of Population; Population and Economic Development. Population Pyramid, Gender Analysis, Population & Environment.

UNIT 1: INTRODUCTION Concept and Scope of Demography; Relationship with other sciences; Significance of Demographic study; Birth rate and Death rate; Density of Population Growth Rate of Population; Population and Economic Development; Population Pyramid; Gender Analysis; Population & Environment.

Unit title has been framed. Birth rate and death rate have been added

2. ECM 406

UNIT 2: Population Theories-Malthusian Theory, Post-Malthusian Theory, Optimum Theory, Bio-Theories, Socio-Economic Theory, Theory of Transition.

UNIT 2: POPULATION THEORIES Malthusian Theory; Post-Malthusian Theory; Optimum Theory; Bio-Theories; Socio-Economic Theory, Theory of Transition, Eugenics and Euthenics

Unit title has been framed Eugenics and Euthenics have been added

3. ECM 406

UNIT 3: Demographic Methods-Measurement of Fertility & Mortality; Determinants of Fertility & Mortality; Infant Mortality Rate; Maternal Mortality Rate. Factors for decline in mortality in recent past

UNIT 3: DEMOGRAPHIC METHODS Measurement of Fertility & Mortality; Determinants of Fertility & Mortality; Infant Mortality Rate; Maternal Mortality Rate, Factors for decline in mortality in recent past

Unit title has been framed

4. ECM 406

UNIT 4: Population and human Development issues- Culture and fertility, education fertility, demography and household economic behaviour, Population Projection-Methods, importance; Projection & Forecast.

UNIT 4: POPULATION AND HUMAN DEVELOPMENT ISSUES Culture and fertility, education fertility, demography and household economic behaviour, Population Projection-Methods, importance; Projection & Forecast


5. ECM 406

UNIT 5: Demographic Profile of India-Growth, Distribution & Composition of population, Changing characteristics of population in India, Indian census-Methods, Census 2011, Indian Population Policy (latest); Migration-Meaning, types, and causes.

UNIT 5: DEMOGRAPHIC PROFILE OF INDIA Growth, Distribution & Composition of population, Changing characteristics of population in India, Indian census-Methods, Census 2011, Indian Population Policy (latest); Migration-Meaning, types, and causes.


Note: It has been made an optional subject for the students who do not wish to pursue honours in Economics. Reading list has been revised.

ECM 501

1 Department proposing the course Economics 2 Course Title Microeconomic Analysis 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA


aims The students already have an orientation in the subject at elementary level. An attempt has been made to provide in-depth concepts for better understanding of issues involved.

S. No.

Course No.


1. ECM 501

UNIT 1: THEORY OF CONSUMER BEHAVIOUR Consumer Behaviour-Utility Curve Approach; Indifference Curve Approach; Revealed Preference Analysis; Recent Developments in the theory of market demand.

UNIT 1: MARKET STRUCTURE AND EQUILIBRIUM Market forms – perfect and imperfect forms – equilibrium of a firm under perfect competition, monopoly, monopolistic competition, duopoly and oligopoly – importance of time element in price theory – price discrimination and measure of monopoly power – control and regulation of monopoly – collusive price leadership – kinked demand curve-taxation and equilibrium of a firm-comparison of various markets. Preference; utility; budget constraint; choice; demand; Slutsky equation; buying and selling; choice under risk and inter temporal choice; revealed preference.

Theory of consumer behaviour has already been covered in ECM 101, therefore, to avoid repetition unit 1 has been changed to Market structure and equilibrium

2. ECM 501

UNIT 2: THEORY OF PRODUCTION & COST Production with one variable input; Production Function; Laws of Production; Production with two variable inputs; MRTS; Elasticity of Substitution, Laws of Returns/Scale; Cobb-Douglas production function; Revenue Concept-AR and MR; Optimal Input Combination; Cost Concepts (Fixed, variable &

UNIT 2: PRICING METHODS Mark up pricing – break even pricing – rate of return pricing – variable cost pricing – peak load pricing – going rate pricing – controlled or administered pricing – minimum support price.

Unit 2 has already been covered in ECM 101 therefore, it has been replaced with pricing methods

marginal).

3. ECM 501

UNIT 3: PRICE AND OUTPUT DETERMINATION Pricing and Equilibrium of the firm under perfect competition; Pricing and Equilibrium of the firm under Monopoly; Pricing and Equilibrium of the firm under Discriminating Monopoly; Pricing and Equilibrium of the firm under Oligopoly. Cournot and the kinked demand curve model-Monopolistic Competition- Chamberlin’s Model

UNIT 3: FACTOR PRICING Market for the factors of production – marginal productivity theory of pricing of factor (distribution theory) – Euler’s theorem-linkages among the factors of production – theories of wages – determination – wages and collective bargaining – wage differentials – rent – Ricardian and modern theories of rent – scarcity rent – differential rent and quasi rent – interest – classical and Keynesian theories – profit – innovation, risk and uncertainty theories – the concept of normal profit – monopoly profit. Different Pricing Strategies: Capturing consumer surplus; price discrimination – first, second and third degree price discrimination; peak-load pricing; quality discrimination, dumping in international market.

The contents of unit 3 have been shifted to unit 1 with elaborated version.

4. ECM 501

UNIT 4: FACTOR PRICING &INCOME DISTRIBUTION Factor Price Determination under Perfect competition; Factor Price Determination under Imperfect competition; Theories related to the determination of Rent, Interest, Profit & Wages.

UNIT 4: FACTOR MARKET Payback period – average annual rate of return, net present value, internal rate of return, price changes, risk and uncertainty – elements of social cost benefit analysis.

The unit has been changed and the contents have been revised to avoid repetition.

5. ECM 501

UNIT 5: WELFARE ECONOMICS Definition & Nature; Classical & Neo-Classical Welfare Economics; Paratian Welfare Economics; Pareto Optimality under Perfect competition; Compensation Criteria for Welfare Judgment.

UNIT 5: WELFARE ECONOMICS What is welfare economics – economic and general welfare problems in measuring welfare – classical welfare economics – Pigovian welfare condition – Pareto’s criteria – value judgment – concept of a social welfare function-compensation principle –the Kaldor- Hicks criterion.

The contents have been specified

Note: Reading list has been revised.

ECM 502

1 Department proposing the course Economics 2 Course Title Indian Economic Development -II 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA


aims After studying the structure aspects of Indian Economy, students will be exposed to economic reforms in India and problems of Indian economy. A little understanding of India and Global economy is also included.

S. No. Course

No. Existing Contents Revised Justification

1 ECM 502 New Course Note: The course has been replaced with ECM 503 Computer Applications in Economic Analysis. The contents of ECM 503 have been incorporated in ECW 201. The current proposed course orients the students with the structure , problems like unemployment, poverty and their measures, economic reforms and global economy vis-à-vis Indian economy at advanced level.

ECM 503 1 Department proposing the course Economics 2 Course Title Statistical Methods For Economics - II 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA


aims This paper will enable the students in understanding the various concepts and tool of data analysis which will help them to make project.

S. No.

Course No.


1. ECM 503

UNIT 1: REGRESSION ANALYSIS Simple Regression; Coefficient of Regression; Partial Correlation; Multiple Correlation in case of three variables; Interpretation of Formulae without proof.

UNIT 1: RANDOM VARIABLES AND PROBABILITY DISTRIBUTIONS Definition of random variable: discrete and continuous random variable, probability mass function and probability density functions, Expectation and Variance of random variables, Joint Probability Distribution: Concept of Independence, Marginal and Conditional Distribution. Univariate Probability Distributions: Binomial, Poisson, Limiting form of Binomial distribution (with proof), Limiting form of Poisson distribution (no proof), Importance of Normal Distribution in Statistics, Central Limit Theorem (statement only).

The unit title has been changed from Regression Analysis to Random variables and probability distributions. The content of the first unit has also changed. Some part of Regression is transferred to unit 4. In most of the syllabus of other universities probability precedes sampling therefore owing to the logical sequencing it was done.

2. ECM 503

UNIT 2: SAMPLING THEORY AND TESTS OF SIGNIFICANCE Standard error, Sampling of Attributes, Sampling of Variables, Z-test, T-test, F-test.

UNIT 2: INTRODUCTION TO SAMPLING DISTRIBUTIONS Population versus sample, Methods of sampling, simple random sample, sampling distribution of sample mean for normal and non-normal populations, Chebyshev’s inequality, law of large numbers, optimum size of sample, central limit theorem

The tests of hypotheses have been transferred to unit 3 and in lieu of that some new concepts are introduced like cheyshev’s inequality etc for an in depth understanding of the subject

3. ECM 503

UNIT 3: ASSOCIATION OF ATTRIBUTES Consistency of data, Co-efficient of consistency; Classification according to attributes, Association of attributes, Contingency Table, Chi-Square & Coefficient of Contingency.

UNIT 3: INTRODUCTION TO STATISTICAL INFERENCE Properties of point estimator - unbiasedness, relative efficiency and consistency, Testing of Hypothesis - type I and type II errors, level of significance, power of a test, Use of z, chi-square, t and F statistics - large sample and small sample tests for mean, one tail and two tail tests for difference of means, Chi-square test for (i) goodness of fit and (ii) independence of two attributes, F-test for ratio of two variances, one-way analysis of variance, confidence intervals for mean and variance

Statistical Inference has been shifted to unit 3 to maintain logical sequence.

4. ECM 503

UNIT 4: INTERPOLATION & EXTRAPOLATION Graphic and algebraic

UNIT 4: SIMPLE REGRESSION AND CORRELATION Simple linear regression; method

Regression and correlation found more important for

methods, Parabolic, Binomial and Newton’s method.

of least squares; linear and exponential trend; Product moment – covariance, correlation, rank correlation

students. Therefore, has been replaced with interpolation and extrapolation.

5. ECM 503

UNIT 5: ANALYSIS OF TIME SERIES Meaning and importance of time series, Components, measures of Long term trends, Measures of Seasonal, Cyclical and Random fluctuations.

UNIT 5: TIME SERIES AND INDEX NUMBERS Definition and components of a time series; seasonal variations – measuring through -a) simple average method- and ratio to trend method – cyclical variations – measuring through residual method – trend and its measurement through a) method of moving averages and method of least squares (annual production, sales, profit. etc.,) – fitting a second degree trend (population growth) – growth curves, logistic curve; Definition of index number – types of index number – price index-quantity index –value index – simple index number – weighted index number – construction of index number – problems in construction – methods in construction – simple and weighted – Laspeyre’s price index (cpi in india) – Paasche’s price index – Fisher’s ideal index – splicing of index number – deflating

Index number has been added to this unit. It was found that index number was important for study and will help in developing understanding regarding price index.

Note: Sequence of the course has been changed from ECM 504 to ECM 503 to maintain the uniformity. Reading list has been revised

ECM 504 1 Department proposing the course Economics 2 Course Title History of Economic Thoughts 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA


aims This course, tracing the history of economic thought, would enable the student to understand how contemporary economics came to be what it is.

S. No.

Course No.


1. ECM 504

UNIT 1: EARLY PERIOD Mercantilism: Main Characteristics; Physiocracy; natural order; Primacy of agriculture, Social classes, tableau Economique, taxation, turgot- Economic ideas of petty, Locke and Hume.

UNIT 1: EARLY PERIOD Nature and importance of history of economic thought – ancient economic thought – Aristotle, Plato. Mercantilism: Main Characteristics; Physiocracy; natural order; Primacy of agriculture, Social classes, tableau Economique, taxation

Introductory part has been added. Economic ideas of petty, Locke and Hume have been deleted according to the relative importance.

2. ECM 504

UNIT 2: CLASSICAL PERIOD Adam Smith: Views on division of labour, theory of value, capital accumulation, distribution, trade and economic development; David Ricardo: main contributions in brief; Thomas Robert Malthus: Theory of Population, J.B. Say: Laws of Market; J. S. Mill: Restatement of the Classical Theory.

UNIT 2: CLASSICAL PERIOD Adam Smith: Views on division of labour, theory of value, capital accumulation, distribution, trade and economic development; David Ricardo: main contributions in brief; Thomas Robert Malthus: Theory of Population, and Gluts Theory, J.B. Say: Laws of Market; J. S. Mill: Restatement of the Classical Theory.

No Change

3. ECM 504

UNIT 3: MARGINALISTS Marshall as a great synthesizer; role of time in price determination, economic methods, ideas on consumer’s surplus, elasticities, prime and supplementary costs, representative firm, external and internal economies, quasi-rent, organization as a factor of production, nature of profits; Pigou; welfare economics.

UNIT 3: THE MARXIAN CHALLENGE AND MARGINAL REVOLUTION Karl Marx - A Contribution to the Critique of Political Economy, William Stanley Jevons - The Theory of Political Economy, Alfred Marshall - Principles of Economics, Eugen von Bohm-Bawerk - The Positive Theory of Capital

Unit title and contents have been reframed to maintain proper sequence.

4. ECM 504

UNIT 4: KEYNESIAN IDEAS The aggregate economy, Liquidity preference theory and Liquidity trap; Marginal Efficiency of Capital and Marginal efficiency of investment, wage rigidities under employment equilibrium, role of fiscal Policy; deficit spending and public works, Multiplier Principle.

UNIT 4: KEYNESIAN IDEAS The aggregate economy, Liquidity preference theory and Liquidity trap; Marginal Efficiency of Capital and Marginal efficiency of investment, wage rigidities under employment equilibrium, role of fiscal Policy; deficit spending and public works, Multiplier Principle

No Change

Note: The course number has been changed from ECM 502 to ECM 504 to maintain proper sequence. Reading list has been revised.

ECM 601

1 Department proposing the course Economics 2 Course Title Macroeconomic Analysis and Policy 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA


aims After studying the aggregated the students will be exposed to macroeconomic dynamics to closed and open economy.

S. No.

Course No.


1. ECM 601

UNIT 1: NATIONAL INCOME ACCOUNTING Concepts, Components & Measurement of National Income, Measuring Price changes, Problems of Measurement; Sector Accounts-Business Sector, Household Sector, Government Sector, Foreign Sector; Circular flow of Income in an economy; National Income & Economic Welfare.

UNIT 1: CONSUMPTION AND INVESTMENT FUNCTION Consumption – absolute income hypothesis, relative income hypothesis, life cycle hypothesis, permanent income hypothesis – investment (business fixed investment, residential investment and inventory investment) – neo-classical theory of investment – accelerator theory of investment

Unit 1 National income accounting has already been covered in ECM 201. Therefore, it has been replaced with consumption and investment function.

2. ECM 601

UNIT 2: CLASSICAL THEORY OF OUTPUT & EMPLOYMENT Say's Law of markets & quantity theory of money; Classical Model; Price & Wage flexibility & full employment; Keyne's criticism of the Classical theory of Income & Employment.

UNIT 2: THE CLOSED ECONOMY IN THE SHORT RUN The goods market and derivation of IS curve – real influences and Shift in IS schedule – the money market and derivation of LM curve – the shift in LM curve – determination of equilibrium income and interest rates – the relative efficacy of fiscal and monetary policy.

Unit 2 has already been covered in ECM 201. Therefore, it has been replaced and the advanced contents have been added in align with other universities.

3. ECM 601

UNIT 3: KEYNE'S THEORY OF INCOME& EMPLOYMENT Principle of Effective Demand-Aggregate Supply Curve-Aggregate Demand Curve; Determination of the Equilibrium Level of Income Price & Employment; Consumption Function-APC, MPC; Determinants of C.F.; Keyne's Psychological Law of Consumption; Post-Keynesian Theories of Consumption-Relative Income Theory, Life Cycle Theory; Permanent Income Theory.

UNIT 3: THE AGGREGATE DEMAND AND SUPPLY The derivation of aggregate demand and supply curves – the Keynesian aggregate demand with vertical aggregate supply curve – sources of wage rigidity and unemployment – the flexible price with fixed money wage model – labour supply and money wage – the shift in aggregate supply – Keynes vs. Classics.

Unit title and contents have been modified.

4. ECM 601

UNIT 4: INVESTMENT DEMAND THEORY Determinants of Inducement to Invest; MEC; Investment demand curve; Concept of Investment Multiplier; Acceleration Principle; Saving & Investment Relationship, IS-LM Curve analysis & their interaction.

UNIT 4: INFLATION AND UNEMPLOYMENT Inflation: concepts and consequences- The Phillips curve – the natural rate of unemployment – factors affecting natural rate of unemployment – the adaptive expectation and long-run Phillips curve – the concept of rational expectations – policy ineffectiveness debate.

To avoid repetition the unit title and contents have been revised

5. ECM 601

UNIT 5: TRADE CYCLE Nature & Characteristics, Hawtrey’s Monetary Theory & Hayek’s Over Investment Theory, Keynes view on trade cycles; The concept of Accelerator, Samuelson & Hicks; Multiplier-Accelerator interaction model control of trade circles.

UNIT 5: OPEN ECONOMY MODELS The Mundell – Fleming model: determining equilibrium output in a small open economy; the monetary and fiscal policy under flexible and fixed exchange rate regimes; the Mundell- Fleming model with changing price level.

To avoid repetition and to make the course in align with other universities, the unit title and contents have been revised


ECM 602 1 Department proposing the course Economics 2 Course Title Economics of Health and Education 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA

8 Overlap with any UG/PG course of another NA

Dept./Centre 9 Faculty who will teach the course 10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims To give contemporary evidence based education and health practices undertaken by government

S. No. Course


1 ECM 602 New Course Note: As per the recommendations of experts, the course ECM 602 Industrial Economics has been replaced with Economics of Health and Education.

ECM 603 1 Department proposing the course Economics 2 Course Title Basic Econometrics 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? Yes 11 Course objectives including motivation and

aims Econometric methods have proved particularly useful for understanding the interrelationships in the economic variables. Use of econometrics has given greater precision in establishing such relationships.

S. No. Course


1 ECM 603 New Course Note: The course Basic Econometrics has been newly constructed and it will be beneficial to the students as it provides the tools to enable the students to extract useful information about important economic policy issues.

ECM 604 1 Department proposing the course Economics 2 Course Title Environmental Economics 3 L-T-P Structure Periods (55 mts. Each)/week:5 (L-5+T-0+P-0)


number/ title) NA


NA


aims To provide the basic inputs and concern over the nature and dimensions of environmental economics

S. No.

Course No.


1. ECM 604

UNIT 1: BASIC CONCEPTS An introduction to Environmental Economics, Environment an Economic Good, Interaction between Economics, Environment and Ecology, Environment as a public good and market failure.

UNIT 1: THEORY AND CONCEPT Nature and significance of environmental economics – definition and scope of environmental economics – basic theory – market system and the environment – welfare and environment – the economics of externalities

Introductory part has been added to give a logical start to the course.

2. ECM 604

UNIT 2: ENVIRONMENTAL DEGRADATION DUE TO ECONOMIC DEVELOPMENT Impact of Agricultural development, Impact of industrial development, other impacts, Sustainable development.

UNIT 2: ENVIRONMENT AND ECONOMICS Environment – economy linkage – environment as a necessity and luxury – population and environment linkage – environmental use as an allocative problem – environment as a public good – valuation of environmental damages: land, water, air and forest.

It is required to establish link between Environment and Economics to give appropriate direction to the course. Thus, the unit has been revised.

3. ECM 604

UNIT 3: ENVIRONMENTAL PROBLEMS IN INDIA Environmental pollution, Air pollution, Water pollution, Forests and Environmental quality, Land use, Urbanization and its impact on environmental quality.

UNIT 3: ENVIRONMENTAL ISSUES, DEVELOPMENT DYNAMICS AND ASSESSMENT Economic development and environmental problems – air pollution – water pollution – sound pollution – energy use and environment problem – pollution and urbanization – global warming and green house effect – health, urbanization, transport and technology – environmental degradation, Environmental Accounting

Unit has been elaborated. The Environmental Accounting has been added.

4. ECM 604

UNIT 4: ENVIRONMENTAL REGULATION IN INDIA Evolution of environmental policy, Air and Water Acts; Pollution Control Board and its function.

UNIT 4: POLICY MEASURES Basic approach – design of environmental policy – Indian environment policies and performance – pollution control boards and their function.

Unit has been revised to give policies.

5. ECM 604

UNIT 5: INTERNATIONAL ENVIRONMENTAL ISSUES Causes and consequences of ozone depletion and climate change, Rio conference (Agenda 21); Protocols relating to climate change; Trade and environment in the WTO regime.

UNIT 5: INTERNATIONAL ENVIRONMENTAL ISSUES: Trans-boundary environmental problems; Economics of climate change; Trade and Environment, WTO and environment and EU policies and environment, United Nations Climate Change

The contents have been modified.

Conference Note: Reading list has been revised

DBE 701

1 Department proposing the course Economics 2 Course Title Macroeconomic Theory 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5

5 Course Number DBE 701 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? 11 Course objectives including motivation and

aims The course equips the students at the postgraduate level to understand systemic facts and latest theoretical developments for empirical analysis.

S.

No. Course


1. DBE 701

UNIT 1: DETERMINATION OF INCOME AND EMPLOYMENT National Income Accounting- Concepts and measurement, Classical and Keynesian Systems; IS-LM model; Fiscal and Monetary Multipliers; Aggregate Demand and Aggregate Supply; Government Budget Constraint; Financing Government Expenditure through Taxes, Bonds, Money Creation

UNIT 1: REVIEW OF AGGREGATE SUPPLY-AGGREGATE DEMAND MODEL Review of IS-LM model, Aggregate demand, Aggregate labour market, Aggregate supply, Effectiveness of fiscal and monetary policy.

An Advanced version of the course has been adopted to avoid repetition. The course has been aligned with courses offered by other Universities.

2. DBE 701

UNIT 2: MICROECONOMIC FOUNDATIONS Theories of Consumption and Investment Keynesian Formulation; Post Keynesian Alternatives: RIH, PIH and LCH; Investment Behaviour: Accelerator, Marginal Efficiency of Investment; User Cost of Capital and Neoclassical Model; Value of the Firm and Tobin’s Q-Theory.

UNIT 2: OPEN ECONOMY MODELS Open Economy models, Marshall-Lerner condition, Mundell-Fleming model.

To avoid repetition the advanced version of the course has been adopted

3. DBE 701

UNIT 3: INFLATION AND AGGREGATE SUPPLY CURVE Phillips Curve; Adaptive and Rational Expectations; Policy Ineffectiveness Debate

UNIT 3: RATIONAL EXPECTATIONS AND IMPLICATIONS FOR ECONOMIC POLICY Expectations augmented Phillips Curve, Adaptive expectations, Rational expectations hypothesis, Lucas supply function, policy ineffectiveness proposition (PIP), counter example to PIP, Dornbusch exchange rate overshooting model.

Unit title has been reframed and contents have been modified

4. DBE 701

UNIT 4: OPEN ECONOMY MODELS Short Run Open Economy Models: The Mundell Fleming Model. Exchange Rate Determination: Purchasing Power Parity, Asset Market Approach; Monetary Approach to Balance of Payments

UNIT 4: ECONOMIC GROWTH Solow-Swan model, Ramsey model, Endogenous growth

Contents of unit 4 have been shifted to unit 2 and the new unit has been framed

5. DBE UNIT 5: ECONOMIC GROWTH Harrod- UNIT 5: SCHOOLS OF Contents of unit

701 Domar Model; Solow Model; Models of Endogenous Growth

MACROECONOMIC THOUGHT Classicals, Keynesians; New Classicals, and New Keynesians

5 have been shifted to unit 4 and new unit has been framed

DBE 702 1 Department proposing the course Economics 2 Course Title Indian Economy: Development, Perspectives &

Challenges 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5

5 Course Number DBE 702 6 Status Major Course 7 Status vis- a – vis other course

(course number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting

faculty? No

11 Course objectives including motivation and aims

The course has been designed to sharpen the analytical faculty of the student, by highlighting an integrated approach to the functioning aspects of the Indian economy, keeping in view the scope for alternative approaches.

S. No

Course No.


1. DBE 702 UNIT 1: INTRODUCTION (A) Status of the Indian Economy at

the time of Independence (Pre and post Independence), Policy of mixed Economy, Indian Planning Process

(B) Contemporary Issues of Economic Development of India- Population, Poverty, Unemployment, Infrastructure and Natural Resources (Mineral, Forest, Water)

UNIT 1: RESOURCE DEVELOPMENT IN INDIA Resource profile of India-policies relating to the development of land, forest, water, fisheries and mineral resources of India- Economic development and Environmental degradation- Land degradation and soil erosion- Deforestation – Faulty utilization of water resources – Mining effects- Atmospheric pollution – Measures taken -Global climate change and India-various Global summits and their implications to India

Contents of the course have been upgraded and systematized as per the course structure of other universities.

2. DBE 702 UNIT 2: AGRICULTURE IN INDIA (A) Trends of Agricultural

Productivity, Land Reforms, Productive Efficiency and Size of Land Holding, Conditions of Farmers & Rural Credit

(B) Cooperative Movement in Agriculture, Agricultural Marketing, National Agricultural Policy (2000) and Looming Crisis in Agriculture, Agricultural Reforms since 1991

UNIT 2: PROFILE OF HUMAN RESOURCES OF INDIA Characteristics of Indian Population - qualitative and quantitative aspects – Population as a factor of development- Population policy –National population Policy (2000), Demographic dividend- Human Development during the plan period- Appraisal of Government measures –Human Development Index of States and India – India’s Human Development record in global perspective.


3. DBE 702 UNIT 3: INDUSTRIES IN INDIA (A) Pattern of Industrialization,

Industrial Policies Since Independence, Problems and Policies of Large Scale & Small Scale Industries, Industrial Reforms since 1991

(B) Labour Reforms- Prospect & Challenges

UNIT 3: INFRASTRUCTURE DEVELOPMENT IN INDIA Infrastructure and Economic development -Economic Infrastructure –Energy, Power, Transport, communication, science and technology-policies pertaining to Economic Infrastructure Development –Financing of infrastructure development –PPP


model-Financing institutions-international collaborations -Social Infrastructure-Education, Health –Achievements and failures of Education and Health systems of India –outlook for future development of social Infrastructure

4. DBE 702

UNIT 4: INDIA’S FOREIGN TRADE (A) India’s Trade Relations With

Various Regional Trade Groups- FU, ASEAN, SAARC, NAFTA Etc. Pattern of Balance of Payment, Pattern of Foreign Investment in India

(B) WTO & India- Specific Indian Issues, Future of Free Trade Agreements (FTAs), Foreign Trade Reforms since 1991

UNIT 4: PLANNING ECONOMIC DEVELOPMENT Alternative development strategies- goal of self-reliance based on import substitution and the post 1991 globalization strategies based on stabilization and structural adjustment packages –Indicative planning – Decentralized planning – District planning- Local planning- Panchayat Experience -73rd and 74th constitutional Amendments- critical Evaluation of Plan performance in India, National Institute for Transforming India (NITI Aayog)


5. DBE 702

UNIT 5: SOCIAL WELFARE & ECONOMIC DEVELOPMENT IN INDIA (A) Issues of Inequality, Health,

Education & Economic Empowerment. Human Development, Indicators and sustainable development

(B) Millennium Development, Goals & India, Overview of PURA- A Neo- Gandhian Approach to Development

UNIT 5: AGRICULTURE AND RURAL DEVELOPMENT Current issues in Indian Agriculture-New thrust Areas in agriculture and future prospects of Green Revolution- Commercialization and diversification -Food security issues-Pricing of agricultural inputs and outputs-subsides in Agriculture-Economic Reforms and Agriculture-Impact of WTO on Indian Agriculture – Food processing- Agricultural policies- Public Distribution System- Agricultural finance -, Agriculture inputs - marketing and warehousing– policies for sustainable Agriculture- Impact of public Expenditure on Agricultural Growth –Rural Development programmes including poverty alleviation programmes- Bharat Nirman, Mahatma Gandhi National Rural Employment Guarantee programme – Water Supply, Sanitation, Public Health Programmes.


Note: The course number has been changed from ECM 902 to DBE 702 Reading list has been revised

DBE703 1 Department proposing the course Economics 2 Course Title Quantitative Techniques in Business &

Economics Analysis 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5

5 Course Number DBE703 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? No 11 Course objectives including motivation In order to understand economic problems

and aims clearly, the knowledge of quantitative techniques in the area of mathematics and statistics is very essential. This course is meant to train the student in this direction.

S. No.

Course No.


1. DBE 703

UNIT 1: PROBABILITY THEORY Basic Definitions: Sample Space and Probabilities, Basic Rules for Probability- Range of Values, Mutually Exclusive Events, Conditional Probability, Combinatorial Concepts, Bayo’s Theorem, Stirling’s Approximation to n!, Mathematical Expectation

UNIT 1: PROBABILITY THEORY Basic Definitions: Sample Space and Probabilities, Basic Rules for Probability- Range of Values, Mutually Exclusive Events, Conditional Probability, Combinatorial Concepts, Bayo’s Theorem, Stirling’s Approximation to n!, Mathematical Expectation

No change

2. DBE 703

UNIT 2: STATISTICAL INFERENCE ESTIMATION AND HYPOTHESIS TESTING The Meaning of Statistical Inference, Twin Branches of Statistical Inference, Estimation of Parameters, Properties of Point Estimators (Linearity, Unbiased ness, Minimum Variance, Efficiency, Best Linear Unbiased Estimation (BLUE), Consistency, Hypotheses Testing.(T,F, Chi- Square), Regression Analysis

UNIT 2: STATISTICAL INFERENCE ESTIMATION AND HYPOTHESIS TESTING The Meaning of Statistical Inference, Twin Branches of Statistical Inference, Estimation of Parameters, Properties of Point Estimators (Linearity, Unbiased ness, Minimum Variance, Efficiency, Best Linear Unbiased Estimation (BLUE), Consistency, Hypotheses Testing.(T,F, Chi- Square), Regression Analysis

No change

3. DBE 703

UNIT 3: ELEMENTARY LINEAR ALGEBRA 2-,3- and n- Dimensional Row and Column Vectors, Vector Addition and Scalar Multiplication, Length of a Vector, Orthogonality Matrices and Matrix Operations, Rank, Elementary Row Operations and Computation of Rank, Determinants, The Ad -Joint Matrix and Formula for Inverse, Linear Equation Systems in Matrix and Vector Notation, Matrix Methods of Solution and Cramer’s Rule

UNIT 3: ELEMENTARY LINEAR ALGEBRA 2-,3- and n- Dimensional Row and Column Vectors, Vector Addition and Scalar Multiplication, Length of a Vector, Orthogonality Matrices and Matrix Operations, Rank, Elementary Row Operations and Computation of Rank, Determinants, The Ad -Joint Matrix and Formula for Inverse, Linear Equation Systems in Matrix and Vector Notation, Matrix Methods of Solution and Cramer’s Rule

No change

4. DBE 703

UNIT 4: DIFFERENTIAL CALCULUS AND APPLICATIONS Derivative of a Function, Techniques of Differentiation, Implicit Differentiation, Differentials and Linear Approximation Use of Exp and Log Functions, Optimization: Stationary Points, Local and Global Optima; Location of Turning Points of Inflexion Using Derivatives; Role of Concavity

UNIT 4: DIFFERENTIAL CALCULUS AND APPLICATIONS Derivative of a Function, Techniques of Differentiation, Implicit Differentiation, Differentials and Linear Approximation Use of Exp and Log Functions, Optimization: Stationary Points, Local and Global Optima; Location of Turning Points of Inflexion Using Derivatives; Role of Concavity

No change

and Convexity. Applications, Limits of functions, maxima- minima, Constrained Optimization, Lagrange Multiplier, Economic Examples

and Convexity. Applications, Limits of functions, maxima- minima, Constrained Optimization, Lagrange Multiplier, Economic Examples

5. DBE 703

UNIT 5: INTEGRAL CALCULUS AND ECONOMIC APPLICATIONS The indefinite integral, The definite integral, Properties of integrals, Improper integrals, Techniques of integration, Linear, first order, autonomous difference equations

UNIT 5: INTEGRAL CALCULUS AND ECONOMIC APPLICATIONS The indefinite integral, The definite integral, Properties of integrals, Improper integrals, Techniques of integration, Linear, first order, autonomous difference equations

No change

Note: Course number has been changed from DBE 704 to DBE 703 to maintain sequence. Reading list has been revised

DBE 704 1 Department proposing the course Economics 2 Course Title Financial Economics 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA


aims The course introduces students to the economics of finance. To impart knowledge regarding basic models used to benchmark valuation of assets and derivatives.

S.

No. Course No.


1. DBE 704

New Course

Note: The new course has been introduced in place of DBE 703 Computer Applications in Business and Economic Analysis.

DBE 801 1 Department proposing the course Economics 2 Course Title Microeconomic Theory 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA


aims It is mainly concerned with the objective of equipping the students in a rigorous and

comprehensive manner with the various aspects of microeconomics.

S.

No. Course No.


1. DBE 801

UNIT 1: CONSUMER BEHAVIOUR Overview of Demand and Supply Analytical Techniques of Economic Analysis- Determination of Equilibrium and Optimization Consumer Theory- Utility and Indifference Curves, Consumer Optimum, Slutsky Theorem, Modern Utility Analysis of Consumer’s Choices under Risk and Uncertainty; Revealed Preference Theory; Concept of Elasticity of Demand Recent Development in Demand Theory.

UNIT 1: CONSUMER THEORY Preferences; utility; budget constraint; choice; demand; Slutsky equation; buying and selling; choice under risk and inter temporal choice; revealed preference, Expected utility theorem and attitude towards risk - utility function and expected utility; risk preference and risk aversion; concept of risk premium and certainty equivalence.

Unit title and Contents have been modified in align with other universities.

2. DBE 801

UNIT 2: PRODUCTION AND COSTS Iso-quants/ Ridge lines, production with one and more variable inputs, Producer’s Equilibrium and Production Functions—Cobb-Douglas, CES; Elasticity of Factor Substitution; Cost Analysis—Traditional and Modern Theories of Costs.

UNIT 2: PRODUCER AND COST THEORY Technology; isoquants; production with one and more variable inputs; returns to scale; short run and long run costs; cost curves in the short run and long run; profit and cost functions.

Unit title and Contents have been modified in align with other universities.

3. DBE 801

UNIT 3: PRICE & OUTPUT DETERMINATION An introduction to market structure, Equilibrium of a firm under Monopolistic Competition; Concept of Industry & Group, Oligopoly- Non Collusive (Cournot, Sweezy), Collusive (Cartels, Price Leadership); Marginalist Controversy- Full Cost Pricing Theory Limit Pricing Theory; Managerial Theory of the firm ,Basic Concepts of Game Theory and Competitive Strategy

UNIT 3: GENERAL EQUILIBRIUM Partial and general equilibrium; Walrasian excess demand and input-output approaches to general equilibrium existence- stability and uniqueness of equilibrium – general equilibrium, coalitions and monopolies; production without consumption- One sector model, homogeneous functions, income distribution; production without consumption-Two sector model, relationship between relative commodity and factor prices (Stopler Samuelson theorem),relationship between output mix and real factor prices, effect of changes in factor supply in closed economy ( Rybczynski theorem), production and consumption.

To avoid repetition an advanced version of contents has been framed.

4. DBE 801

UNIT 4: INPUT MARKETS Labour & Land Market, Basic Concepts (Derived Demand, Productivity of an Input, Marginal Product of Labour, Marginal Revenue Product, Demand for Labour, Input Demand Curves, Shifts in Input Demand Curves, Competitive Labour Markets, Labour

UNIT 4: WELFARE ECONOMICS Pigovian welfare economics; Pareto optimal conditions; value judgment; social welfare Function; Compensation principle; Inability to obtain optimum welfare – Imperfections, market failure, decreasing costs, uncertainty and non-existent and incomplete markets;

The contents of revised unit 4 are same as that of unit 5 of existing course with more detailed study.

Markets & Public Policy,

Theory of Second Best- Arrow’s impossibility theorem; Rawl’s theory of justice, equity-efficiency trade off

5. DBE 801

UNIT 5: GENERAL EQUILIBRIUM AND ECONOMIC EFFICIENCY AND WELFARE Welfare Economics : Individual and Social Welfare, Role of value judgement, Pigou’s concept of welfare, Criteria of social welfare, Pareto optimality, Problem of welfare maximization, optimality conditions- efficiency conditions, social justices and social optimum, Theory of second best.

UNIT 5: GAME THEORY AND INFORMATION ASYMMETRY Game theory and competitive strategy, markets with Asymmetric Information - quality uncertainty and the market for Lemons: adverse selection and moral hazard

Game theory has been added and some repetitive contents have been deleted.

Note: The course has been shifted from DBE 701 to DBE 801 as it is difficult for students to study micro and macroeconomics together.

DBE 802 1 Department proposing the course Economics 2 Course Title International Trade & Finance 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA


aims The course is helpful to develop a systematic exposition of models that try to explain composition, direction and consequences of international trade.

S.

No. Course No.


1. DBE 802

UNIT 1: TRADE THEORIES Determinants of Trade: Classical, Neo-classical and Modern trade theories, Gains from trade, Terms of trade, Tariff and Non tariff barriers

UNIT 1: TRADE THEORIES Determinants of Trade: Classical, Neo-classical and Modern trade theories, Gains from trade, Terms of trade, Tariff and Non-tariff barriers

No Change

2. DBE 802

UNIT 2: BALANCE OF PAYMENTS Meaning and Components of BOP, Equilibrium and Disequilibrium in the Balance of Payments, The Process of Adjustment Under System of Gold Standard, Fixed and Flexible Exchange Rules. Direct Controls for Adjustment

UNIT 2: BALANCE OF PAYMENTS Meaning and Components of BOP, Equilibrium and Disequilibrium in the Balance of Payments, The Process of Adjustment Under System of Gold Standard, Fixed and Flexible Exchange Rules. Direct Controls for Adjustment.

No Change

3. DBE 802

UNIT 3: FOREIGN EXCHANGE MARKETS Theories of Exchange rate determinations, dealers in foreign exchange market, foreign exchange quotations, spot and forward market for foreign exchange, currency futures and currency options markets, Efficiency in foreign exchange markets and exchange rate forecasting, exchange rate system in India, Exchange Rate Risk.

UNIT 3: FOREIGN EXCHANGE MARKETS Theories of Exchange rate determination; Introduction; Structure and Functions of foreign Exchange market; Methods of Foreign payments; Concepts of Spot and Forward exchange Rate; Determinants of Exchange Rate under Fixed and Flexible Exchange Rate; Exchange rate system in India; Regime and Role of hedging in the determination of exchange rate; Exchange rate risks

Structure and Functions of foreign Exchange market; Methods of Foreign payments have been added.

4. DBE 802

UNIT 4: INTERNATIONAL FINANCIAL INSTITUTIONS International Trade and Financial Institutions Functions of GATT/WTO/TRIPS/TRIMS, IMF, World Bank and Asian Development Bank – Their Achievements and Failures, WTO and World Bank from the point of view of India.

UNIT 4: INTERNATIONAL FINANCIAL INSTITUTIONS International Trade and Financial Institutions Functions of GATT/WTO/TRIPS/TRIMS, IMF, World Bank and Asian Development Bank – Their Achievements and Failures, WTO and World Bank from the point of view of India.

No change

5. DBE 802

UNIT 5: INTERNATIONAL TRADE POLICIES IN INDIA Recent Changes in Direction and Composition of Trade and their Implications, Rational and Impact of Trade Reforms Since 1991 on BOP, Employment and Growth. Working and Regulations of MNCs in India, Instruments of Export Promotion, Recent Export and Import Polices.

UNIT 5: INTERNATIONAL TRADE POLICIES IN INDIA Recent Changes in Direction and Composition of Trade and their Implications, Rational and Impact of Trade Reforms since 1991 on BOP, Employment and Growth; Working and Regulations of MNCs in India, Instruments of Export Promotion, Recent Export and Import Polices.

No change

Note: The course number has been changed from DBE 803 to DBE 802 to maintain uniformity Reading list has been revised

DBE 803 1 Department proposing the course Economics 2 Course Title Business & Economic Forecasting 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? No 11 Course objectives including motivation and To make students able to understand the nature of

aims forecasting problems and can produce sound forecasts for use in business and economic analysis.

S.

No. Course No.


Note: There is no change in contents of the course. Only the course number has been changed from DBE 801 to DBE 803 to maintain uniformity

DBE 804 1 Department proposing the course Economics 2 Course Title Business Environment 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA


and aims The course will help the students in understanding business environmental dynamics which affects the performance of a business firm at large.

S. No. Course


1. DBE 804 UNIT 1: INTRODUCTION TO BUSINESS ENVIRONMENT (a) Social & Cultural Environment, Corporate Governance (b) Social Responsibilities of Business (c) Business & Society, Social Audit (d) Business Environment, Business System Dynamics

UNIT 1: INTRODUCTION TO BUSINESS ENVIRONMENT Social & Cultural Environment, Corporate Governance; Social Responsibilities of Business; Business & Society, Social Audit; Business Environment; Business System Dynamics

No change

2. DBE 804 UNIT 2: POLITICAL-LEGAL ENVIRONMENT (a) Political Institutions (b) The constitution of India (c) State Regulations (d) New Competition Policy (e) Control of Foreign Trade (f) The Companies Act, 1956 (g) Corporate Governance Regulations.

UNIT 2: POLITICAL-LEGAL ENVIRONMENT Political Institutions; The constitution of India; State Regulations; New Competition Policy; Control of Foreign Trade; The Companies Act 2013; Corporate Governance Regulations

The companies act 2013 has replaced the older act of 1956

3. DBE 804 UNIT 3: ECONOMIC ENVIRONMENT (a) Planning framework and Economic Administration (b) Privatisation (c) Infrastructure, Stabilization Policy

UNIT 3: LAWS ON INTELLECTUAL PROPERTY RIGHTS AND CONSUMER RIGHTS IN INDIA Concept and importance of Intellectual Property Rights – Types of Intellectual Properties – Indian Laws to protect; Intellectual Property:- The Patent Act, 1970: Object, important definitions, salient features of the Act, patentable and non-patentable inventions and processes – The Copyright Act, 1957: Object, definitions, features of the Act, works in which copyright subsists, related rights – The Trade Marks Act, 1999: Meaning, object, features of the Act – Consumer

IPR has replaced economic environment elements like planning, privatization etc. it was found that students should have understanding related to patents, copyrights, trademarks etc. and how they affect the business

Protection Act, 1986: Definitions, object, consumer rights and consumer protection in India

environment.

4. DBE 804 UNIT 4: TECHNOLOGICAL & NATURAL ENVIRONMENT Technological collaborations, Acquisition & Absorption, Green Environmental Practices & Regulations

UNIT 4: ENVIRONMENTAL LAWS IN INDIA The Environment (Protection) Act, 1986: important aspects of the Act – The Air (Prevention and Control of Pollution) Act, 1981: important aspects of the Act – The Water (Prevention and Control of Pollution) Act, 1974: important aspects of the Act.

The unit title has been amended, and the contents are also changed. They are more closed to environmental laws and concepts therein which will help students in developing a new perspective.

5. DBE 804 UNIT 5: GLOBAL ENVIRONMENT (a) Meaning & Rational for Globalisation (b) From Domestic Markets to Global Markets-Strategies (c) India, WTO & the Trading Blocks (d) Foreign Trade, Export Promotion

UNIT 5: INTERNATIONAL AND TECHNOLOGICAL ENVIRONMENT OF BUSINESS Importance of international environment – Concept of globalization – Reasons for globalization of business –Conditions for globalization – Strategies for entering foreign market: Exporting, Licensing, Franchising, Assembling, Manufacturing, Joint Venture, Counter Trade, Merger and Acquisitions, Strategic Alliance and Third country location–Multinational Corporations: Concept and characteristics, Benefits and dangers to host countries – Origin and functions of WTO – Differences between GATT and WTO – WTO agreements – Impact of technology on business and society –Technology policy of India

The unit 5 has been expanded along with the change in title. It incorporates business strategies like Merger and Acquisitions, Strategic Alliance which affects the landscape of business.

Reading list has been revised.

ECM 902 1 Department proposing the course Economics 2 Course Title Development Theory and Experience 3 L-T-P Structure (L-4+T-0+P/S-0), Min.pds./sem.:48 4 Credits 5

5 Course Number ECM 902 6 Status Major Course 7 Status vis- a – vis other course (course

number/ title) NA


NA


and aims The course explores the demographic concepts and there evolution during the process of development and reflects the role of globalization in the process of development.

S.

No. Course


1. ECM 902 UNIT 1 Economic Growth and Development- The Historical Records ; Kuznet’s Characteristics-Sources and Measurement of Economic Development – National Income- Per Capita Income – PQLI and HDI as Indices of Development – Alternative Measures of Development — Sen’s Capabilities Approach- Three Core Values of Development-Factors of Economic Development- Growth Crisis And Cost of Development – Trade off between Economic Development and Environmental Quality - Problems of Development.

UNIT 1: DEMOGRAPHY AND DEVELOPMENT Demographic concepts; birth and death rates, age structure, fertility and mortality; demographic transitions during the process of development; gender bias in preferences and outcomes and evidence on unequal treatment within households; connections between income, mortality, fertility choices and human capital accumulation; migration.

The course title and contents have been changed to avoid repetition.

2. ECM 902 UNIT 2 Approaches to the Theory of Development- Grand Theories: Adam Smith, David Ricardo, Karl Marx. Joseph Schumpeter.

UNIT 2: LAND, LABOUR AND CREDIT MARKETS The distribution of land ownership, Land reform and its effects on productivity; contractual relationships between tenants and landlords; Land acquisition, nutrition and labour productivity, Informational problems and credit contracts, Microfinance, Inter-linkages between rural factor markets.

Apart from adding unit title the approached have been transformed to the basics of land, labour and credit market.

3. ECM 902 UNIT 3 Partial Theories – Stages of Growth- Rostow-Big Push- Balanced Growth vs. Unbalanced Growth- Low Level Equilibrium Trap-Critical Minimum Effort-Backwash Effects of International Trade- Dualistic Theories- Labour Surplus – Nurkse, Lewis and Fei and Ranis.

UNIT 3: ENVIRONMENT AND SUSTAINABLE DEVELOPMENT Defining sustainability for renewable resources; A brief history of environmental change; Common-pool resources; Environmental externalities and state regulation of the environment; Economic activity and climate change.

Growth theories are eliminated and have been replaced by sustainable development to avoid repetition.

4. ECM 902 UNIT 4 Modern Theories: The Harrod – Domar, The Neo-Classical Models- Meade, Kaldor, Robinson, Solow, Swan – Kaldor as a Critic of Neo-Classicals. New Theories – Theory of Technical Change by Arrow, The Role of Lenier Technology by Rebelo, and Technical Progress and Formation of Human Capital by Lucas, Rebelo and Uzawa.

UNIT 4: GLOBALIZATION Globalization in historical perspective; The economics and politics of multilateral agreements; Trade, production patterns and world inequality, Financial instability in a globalized world.

Modern theories are eliminated and have been replaced by globalization to avoid repetition.

5. ECM 902 UNIT 5 Development Planning – Plan Models – Export Led Growth Strategy – Import Substitution Model- Global Integration – Development Experiences of East Asian Countries – Taiwan –South Korea – Malaysia, Growth experiences of China and India

UNIT 5: DEVELOPMENT PLANNING Plan Model; Export Led Growth Strategy – Import Substitution Model; Global Integration – Development Experiences of East Asian Countries – Taiwan –South Korea – Malaysia, Growth experiences of China and India.

No change


ECM 903

1 Department proposing the course Economics 2 Course Title Econometric Theory 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA

9 Faculty who will teach the course 10 Will the course require visiting faculty? Yes 11 Course objectives including motivation and

aims The econometric theory thus becomes a very powerful tool for understanding of applied economic relationships and for meaningful research in economics. This paper accordingly is devoted to equip the students with basic theory of econometrics and relevant applications of the methods.

S. No. Course


1. ECM 903 UNIT 1: NATURE AND SCOPE OF ECONOMETRICS & REVIEW OF STATISTICS Meaning and Methodology of Econometrics, Descriptive Statistics- a. univariate case b. bivariate case, Random Variables and Probability distributions, Estimation of Parameters; Hypothesis Testing

UNIT 1: REGRESSION ANALYSIS The Matrix Approach to Linear Regression Model: The k- variable regression model, Assumptions of the Classical Linear Regression Model, OLS estimation, Variance-Covariance Matrix, Coefficient of

Determination R2; Review of Functional forms

and Qualitative explanatory variable regression models; Regression Diagnostics-Detection of and remedial measures for Multicollinearity, Autocorrelation and Heteroscedasticity; Model Selection and Diagnostic Testing-Tests of Specification errors: Detecting the presence of unnecessary variables, omitted variables and incorrect functional form (Ramsey RESET and Lagrange Multiplier Test for Adding Variables), Errors of measurement: Consequences and remedial measures,

Model Selection Criteria: R2

and Adjusted

R2criteria, Akaike’s Information Criterion and

Schwarz’s Information Criterion, Additional topics in 76odelling (Outliers, Leverage, Influence; Recursive least Squares; Chow’s Prediction Failure Test; Missing Data), Non-normal errors and stochastic regressors

The basic concepts of econometrics have been covered in earlier course.

2. ECM 903 UNIT 2: CLASSICAL LINEAR REGRESSION MODEL Two Variable Case; Properties of least squares estimates; Test of hypotheses and confidence intervals; Gauss Markov Theorem; Forecasting

UNIT 2: DYNAMIC ECONOMETRIC MODELS Distributed Lag Models: Nature of lagged phenomena, Estimation using Koyck transformation (The Adaptive Expectations and Partial Adjustment Models); Estimation of Autoregressive Models

Unit 2 has been merged with unit 1.

3. ECM 903 UNIT 3: CLASSICAL MULTIPLE LINEAR REGRESSION MODEL Least squares estimation; R2 and adjusted R2; Partial correlations, Classical Model: Gauss Markov Theorem; Standard errors of estimate; Standard errors of regression coefficients, Tests of hypotheses: Single parameters; Sets of parameters, Forecasting

UNIT 3: INSTRUMENTAL VARIABLE ESTIMATION Omitted variables in a simple regression model; Measurement errors

Some portion of unit 3 has been shifted to unit 1 to provide complete orientation in logical order.

4. ECM 903 UNIT 4: VIOLATIONS OF CLASSICAL ASSUMPTIONS Multicollinearity, Heteroscedasticity, Autocorrelation

UNIT 4: PANEL DATA MODELS The Pooled OLS Regression Model, The Fixed Effect Least Squares Dummy Variable Model, The Fixed Effect Within Group Estimator, The Random Effects Model

It has been already covered in ECM 603. A new unit has been framed.

5. ECM 903 UNIT 5: SPECIFICATION ANALYSIS Omission of a relevant variable, Inclusion of irrelevant variable, Tests of specification errors

UNIT 5: STAGES IN EMPIRICAL ECONOMETRIC RESEARCH Carrying out an empirical project; Introduction to econometric software

It has been already covered in ECM 603. A new unit has been framed.


ECM 904 1 Department proposing the course Economics 2 Course Title Law and Economics 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA


aims This course provides an introduction to how legal rules play important role in shaping and coordinating of economic activities. The course discusses the efficiency implications of various branches of the law. Tool and technique from economics are used to make prediction about behaviour of individuals under various legal rules.

S.

No. Course No.


1. ECM 904

New Course

Note: It is an optional course at M.A. level

ECM 905

1 Department proposing the course Economics 2 Course Title Environmental Economics 3 L-T-P Structure (L-5+T-0+P/S-0), Min.pds./sem.:65 4 Credits 5


number/ title) NA


NA


aims This course focuses on economic causes of environmental problems. In particular, economic principles are applied to environmental questions and their management. The course also focuses on the valuation of environmental quality and quantification of environmental damages.

S.

No. Course No.


1. ECM 905

New Course

Note: It is an optional course at M.A. level

ECM 955 1 Department proposing the course Economics 2 Course Title Economic Analysis & Policy 3 L-T-P Structure (L-4+T-0+P/S-0), Min.pds./sem.:48 4 Credits 4


number/ title) NA


NA


aims To orient the students with the advanced level concepts of major branches of economics.

S.

No. Course No.


1. ECM 955

Unit 1 Consumer and Producer Theory -Preference Relations and their properties, Comparative Utility maximisation, Comparative Statics, Consumer Surplus, Profit maximisation and Cost minimization.

UNIT 1: CONSUMER AND PRODUCERS THEORY Consumer and Producer Theory -Preference Relations and their properties, Comparative Utility maximisation, Comparative Statics, Consumer Surplus, Profit maximisation and Cost minimization.

The title has been framed. No change in contents.

2. ECM 955

Unit 2 Static Model of the Open Economy-Multiplier, Repercussion effects, the dependent economy model, Dornbusch's Overshooting Model, Monetary approach to the balance of payment and exchange rates.

UNIT 2: MICROECONOMIC FOUNDATIONS TO MACROECONOMICS Consumption: Keynesian consumption function; Fisher’s theory of optimal inter temporal choice; life-cycle and permanent income hypotheses; rational expectations and random-walk of consumption expenditure; Investment: determinants of business fixed investment; residential investment and inventory investment; Demand for money.

Contents of unit 2 have been shifted to unit 3. New unit has been introduced.

3. ECM 955

Unit 3 Trade Flows- pattern of specialization, changing commodity composition and direction, Classical, Neo-classical and Modern trade theories.

UNIT 3: OPEN ECONOMY MACROECONOMICS Static Model of the Open Economy-Multiplier, Repercussion effects, the dependent economy model, Purchasing Power Parity, Monetary approach to balance of payments, and exchange rate determination.

Trade theories have been deleted to avoid repetition.

4. ECM 955

Unit 4 Economic Growth and Development- Growth Models - Export Led Growth Strategy

UNIT4: ECONOMIC GROWTH Solow model with technical progress, Ramsey-Cass-Koopmans with phase diagrams, Ricardian equivalence, some reasons for non-equivalence

Contents have been expanded.

5. ECM 955

Unit 5 India’s Economy- Contemporary Issues of Economic Development of India- Population, Poverty, Unemployment, Infrastructure and Natural Resources (Mineral, Forest, Water), Budgetary Policy- fiscal Policy, Concept of Budgetary Deficit

UNIT 5: INDIA’S ECONOMY Contemporary Issues of Economic Development of India- Population, Poverty, Unemployment, Infrastructure and Natural Resources (Mineral, Forest, Water), Budgetary Policy- fiscal Policy, Concept of Budgetary Deficit

No change

Note: Reading list has been revised.

Course Number: ECH101, Course Title: ESSENTIALS OF ECONOMICS Class: BA/BA(SS), Status of Course: HALF COURSE, Approved since session: … Total Credits: 3, Periods (55 mts. each)/week: 3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: NATURE AND SCOPE OF ECONOMICS Meaning and Definitions of Economics; Scarcity and Choice; Economic Problem; Opportunity sets; Economic System; Role of Price Mechanism; Positive and Normative Economics; Microeconomics and Macroeconomics UNIT 2: THEORY OF CONSUMER BEHAVIOUR Demand; Law of demand; Elasticity of demand-degrees, types and methods of measurement; Law of supply; Utility Analysis UNIT 3: THEORY OF PRODUCT PRICING Market forms; Cost and Revenue Analysis; Price and output determination under Perfect competition, Imperfect competition and Monopoly UNIT 4: THEORY OF FACTOR PRICING Nature of Factor Market; Marginal productivity theory; Concept of Rent, Wages, Interest and Profit UNIT 5: INFLATION AND RECESSION Meaning, causes, consequences and control of Inflation, Recession and Stagflation; Commercial Banks: Functions, Credit Creation and New Products; Role of Central Bank and credit control SUGGESTED READINGS: Lipsey, R.G. and Chrystal, K.E.: An Introduction to Positive Economics, OUP Karl E. Case and Ray C. Fair, Principles of Economics, Pearson Education, Inc., 8th edition, 2007 N. Gregory Mankiw, Economics: Principles and Applications, India edition by Southwestern, a part of Cengage Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005 Course Number: ECH102, Course Title: INTRODUCTION TO INDIAN ECONOMY Class: BA/BA(SS), Status of Course: HALF COURSE, Approved since session: …………. Total Credits: 3, Periods (55 mts. each)/week: 3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: CHARACTERISTICS OF INDIAN ECONOMY Indicators of economic development; Difference between growth and development; National Income- Estimates, composition, trends and distribution; Recent measurement of National Income; HDI and its components; GEM; PQLI UNIT 2: POPULATION DYNAMICS Problems of population explosion; population and economic development; population policy; size, growth rate, composition of population in India; Age Pyramid; Demographic dividend UNIT 3: AGRICULTURE AND RURAL DEVELOPMENT Role and importance of agriculture in the Indian Economy; productive trends; Green Revolution; Rural poverty and unemployment; Rural development Programmes; MNREGA; NRLM; Agricultural diversification; Rainbow revolution UNIT 4: INDUSTRY AND TRADE Industrial finance; Industrial labour problems and characteristics; Industrial Policy 1991; MSMEs; Make in India and Skill Development; Export Promotion and Import substitution. UNIT 5: NEW ECONOMIC REFORMS Liberalisation, Privatisation and Globalisation -Meaning and objectives; Multinationals- Meaning, Role and extent of operations SUGGESTED READINGS: Kapila, Uma: Indian Economy: Performance and Policies, 2013, Academic Foundation

BimalJalan: Indian Economy Problems & Prospects, 2004, Penguin publishers Misra, S.K &Puri, V.K: Indian Economy, Himalaya Publishing House Pvt Ltd, 32ndedn, 2014 Arun Km Agarwal, Indian Economy and Its Major Issues, Axis books Publication, 2012 Govt. of India: Economic Survey (Latest) XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Course Number: ECW101, Course Title: BANKING & FINANCE Class: BA/BA (SS), Status of Course: Work Experience, Approved since session: ………….. Total Credits: 2, Periods (55 mts. each)/week: 4 (L-2+T-0+P/S-2), Min.pds./sem.:48 UNIT 1: TYPES OF BANKS Commercial banks, Development Banks, Cooperative Banks, Private and Foreign Banks, Regional Rural Banks UNIT 2: BANKING OPERATIONS Types of bank Accounts & opening a bank account, bank Account Statement Pass Books Cheque: Definition, Parties to a cheque, order & bearer cheque, multicity cheque; scrutiny of cheques crossing and endorsement of cheques, bank commissions on cheque and draft; ATM and uses of E-Cards for banking Transactions; Pay in slips; Draft; operational differences between public and private sector banks UNIT 3: E- BANKING Overview of E-Banking Arena; Electronic Delivery Channels and Products- Telephony, Internet, Mobile Phones; Electronic Payment System, NEFT, RTGS, M- Banking UNIT 4: FINANCIAL ASSETS Rates of return, liquidity and risk, types of financial assets:- Government securities. Corporate Equities (Debentures), Promissory notes, Commercial bills, Treasury bills, Mutual Funds; Non Performing Assets UNIT 5: PROJECT BASED ON REAL TIME ISSUES SUGGESTED READINGS L.V. Chandler and S.M. Goldfield: The Economics of Money and Banking, Harper and Row, Latest edition, New York R.S. Sayers: Modern Banking, latest edition, oxford, Clarendon Press Suraj B. Gupta: Monetary Economics– Institutions, Theory and Policy, latest edition, S. Chand & Company Ltd, New Delhi. Course Number: ECM101, Course Title: PRINCIPLES OF MICROECONOMICS Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: ……………. Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: NATURE AND SCOPE OF ECONOMICS Meaning and Definitions of Economics; Scarcity and Choice; Economic Problem; Opportunity sets; Economic System; Role of Price Mechanism; Positive and Normative Economics; Microeconomics and Macroeconomics UNIT 2: THEORY OF CONSUMER BEHAVIOUR Demand; Law of demand; Elasticity of demand-degrees, types and methods of measurement; Law of supply; Utility Analysis; Indifference curve analysis; budget constraints; the consumption decision; Consumer Surplus; Engel Curve UNIT 3: THEORY OF PRODUCTION Fixed and variable inputs; Production function- Short Run and Long Run; Law of variable proportions; Isoquants; Returns to scale; Internal and External economies; Concept of cost UNIT 4: THEORY OF PRODUCT-PRICING Market forms; Price and Output determination under perfect competition, imperfect competition; monopoly and anti – trust policy; government policy towards competition UNIT 5: THEORY OF FACTOR-PRICING Nature of factor market; Pricing of factors of production; Marginal Productivity theory; Concept of Rent, Quasi-Rent, Wages, Interest and Profit SUGGESTED READINGS: N. Gregory Mankiw, Economics: Principles and Applications, India edition by SouthWestern, a part of Cengage Learning, Cengage Learning India Private Limited, 4th edition, 2007

Lipsey R.G.,and Chrystal, K.E.: Principles of Economics, Oxford University Press 11th edition Karl E. Case and Ray C. Fair, Principles of Economics, Pearson Education, Inc., 8th edition, 2007 Joseph E. Stiglitz and Carl E. Walsh, Economics, W.W. Norton & Company, Inc., New York, International Student Edition, 4th edition, 2007.

Course Number: ECM102, Course Title: INDIAN ECONOMIC DEVELOPMENT I Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: ……………… Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT I: THE INDIAN ECONOMY: AN OVERVIEW Developed and less developed Economy: meaning and Concept, Characteristics of Indian Economy; Recent measurement of National Income; Comparison of Indian Economy with Developed countries UNIT II: INDIAN AGRICULTURE Characteristics of Indian agriculture, Growth; productivity; agrarian structure and technology; capital formation Green Revolution strategy and its effects, Agriculture in the post-Reform India; Pricing and procurement; NRLM UNIT III: INDIAN INDUSTRY AND PLANNING Composition of Indian industry; Growth, productivity, diversification; MSMEs; Competition Act; foreign investment; Industry in the post-reform India; Industrial Policy 1991, Need and importance of planning in India, overview of planning in India, NITI Aayog UNIT IV: TERTIARY SECTOR Trends and Performance in Tertiary sector, Govt initiatives to develop tertiary sector after 1991- increasing contribution of tertiary sector to employment, income and exports UNIT V: INFRASTRUCTURE & HUMAN RESOURCE Role of Infrastructure in Economic Development-Physical Infrastructure-Natural Resources, Forest, Water, Land, Mineral, Energy Resources, Transport and Communication; Human Resource; HDI and its components; GEM; PQLI SUGGESTED READINGS: Kapila, Uma: Indian Economy: Performance and Policies, 2013, Academic Foundation BimalJalan: Indian Economy Problems & Prospects, 2004, Penguin publishers Misra, S.K &Puri, V.K: Indian Economy, Himalaya Publishing House Pvt Ltd, 32nd edn, 2014 Govt. of India: Economic Survey (Latest) Course Number: ECW201, Course Title: INTRODUCTION TO COMPUTER APPLICATIONS. Class: BA/BA(SS), Status of Course: HALF COURSE, Approved since session: 2013-14 Total Credits:2, Periods(55 mts. each)/week:4(L-2+T-0+P/S-2), Min.pds./sem.:48 UNIT 1: INTRODUCTION TO COMPUTERS Introduction to computer hardware, computer generation, functional description of computer building, computer networking and resource sharing, introduction to computer software, classification of software UNIT 2: TOOLS FOR OFFICE AUTOMATION Word processing using MS-Word; Familiarization with menu and icons, creating files, fonts, formatting paragraph, header and footer, printing, advanced features, presentation using MS Power Point, familiarization with menus & icons, different views of a presentation, slide show, printing slides. UNIT 3: STATISTICAL PROCESSING TECHNIQUES USING MS EXCEL Features, general spreadsheet concepts, editing commands, analysis, tabulation & graphs, formula and functions, financial and statistical function data management UNIT 4: DATA PROCESSING TECHNIQUES & METHODS Concept of data, record and file, types of data and data structure, data analysis, file handling and operation appending etc., data storage and retrieval, data operating-sorting, merging, joining etc., database concepts and operation on database UNIT 5: IT APPLICATION TO ECONOMICS Networking and Internet application, Internet information services, browser, Internet application- email, e-banking, banking projects etc., agricultural finance, loans and advances, consumer group finances, home finances etc. SUGGESTED READINGS

June Jamrich Parsons & Dan Oja, New Perspectives on Computer Concepts, Cengage learning, 17th edition, 2014. Douglus E.Comer, Computer Networks and Internet, Addition Wesley, Sixth Edition, 2008 V.Rajaraman , Fundamentals of Computers” Prentice Hall of India, Fourth Edition, 2004. Alexis Leon and Mathews Leon, Introduction to Computers” –Vikas Publishing House pvt Ltd, 2001

Course Number: ECM 201, Course Title: PRINCIPLES OF MACROECONOMICS Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: ……… Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: INTRODUCTION TO MACROECONOMICS AND NATIONAL INCOME ACCOUNTING Basic issues of macroeconomics; National Income- meaning, various concepts and methods of measurement; income expenditure and circular flow; real versus nominal GDP; price indices; National Income accounting for an open economy; National Income and economic welfare; UNIT 2: CLASSICAL THEORY OF EMPLOYMENT Classical theory of employment-elements of the complete classical model; Keynes criticism of the classical theory UNIT 3: GENERAL THEORY OF EMPLOYMENT OF KEYNES Aggregate Demand and Aggregate Supply Curves, effective demand determination and importance, Consumption Function, Investment Function, Multiplier and Accelerator UNIT 4: MONEY AND BANKING Quantity Theory of Money: Fisher's cash-transactions approach, Cambridge cash-balance approach; determination of money supply and demand; credit creation; tools of monetary policy UNIT 5: INFLATION AND BUSINESS CYCLE Meaning; types of Inflation; Philips curve; causes, Concept and phases of trade cycle, consequences and control of inflation and recession; stagflation; Role of Fiscal and Monetary Policy to control inflation SUGGESTED READINGS: Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010 (For Keynesian Model) N. Gregory Mankiw. Macroeconomics, Worth Publishers, 6th and 7th edition, 2010. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005. Course Number: ECM202, Course Title: MONEY, FINANCIAL MARKET & INSTITUTIONS Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: ……………… Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39

UNIT 1: MONEY & FINANCIAL MARKETS Money market and Capital market: An Overview; Bond Market; Foreign Exchange Market; Financial Regulations UNIT 2: INDIAN MONETARY AND CREDIT SYSTEM Reserve Bank of India (RBI), Commercial Banks and other Financial Institutions, Monetary Policy, Banking System.

UNIT 3: FINANCIAL REFORMS Bank Reforms - Interest Rate, Deregulation, Capital Market Reforms, Gurley and Shaw Approach

UNIT 4: NON BANKING FINANCIAL INTERMEDIARIES Comparison between commercial banks and NBFIs; NBFIs: Definitions, types; Central bank’s control over the NBFIs

UNIT 5: INDIAN EXPERIENCE OF THE FINANCIAL MARKET Current Regulatory Architecture of India, factors, policies, and institution, financial intermediation, financial access, financial inclusion

SUGGESTED READINGS Uma Kapila, Indian Financial Reforms: Priorities and Policy Thrust Post Global Financial Crisis, 2013, Academic Foundation L M Bhole: Financial Institutions and Markets, latest edition, Tata McGraw Hill M Y Khan: “Indian Financial System”, 2/e, Tata McGraw Hill, 2000. H R Machiraju: “Indian Financial System”, 2/e, Vikas Publishing House, 2002. James A Hanson, Sanjay Kathuria: India- A Financial Sector for The 21st Century, Oxford University Press. F. J. Fabozzi, F. Modigliani, F. J. Jones, M. G. Ferri: Foundations of Financial Markets and Institutions, Pearson Education, 3rd edition, 2009.

Fredric S Mishkin: Financial Markets and Institutions, 8th ed. Pearson Series Various latest issues of R.B.I. Bulletins, Annual Reports

Course Number: ECM301, Course Title: DEVELOPMENT ECONOMICS Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session:------ Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1 BASIC CONCEPTS OF ECONOMIC DEVELOPMENT Economic Growth and Development, Concept of underdevelopment and basic characteristics; Determinants and Measurement indicators, New Challenges to development: Human Development Index and Quality of Life; Sustainable Development. UNIT 2: APPROACHES TO DEVELOPMENT Mixed Economy Approach, Lewis Dual Economy Model, Lebenstein Critical Minimum Effort Theory, Balanced Vs. Unbalanced Growth Theories. UNIT 3: ECONOMIC DEVELOPMENT AND GROWTH: THEORIES & MODELS Theories of Economic Development–Classical, Marx and Schumpeter Models of Economic Growth- Harrod-Domar model and Solow model. UNIT 4: POVERTY AND INEQUALITY: DEFINITIONS, MEASURES AND MECHANISMS Inequality axioms; a comparison of commonly used inequality measures; connections between inequality and development; poverty measurement; characteristics of the poor; mechanisms that generate poverty traps and path dependence of growth processes. UNIT 5: RESOURCES AND DEVELOPMENT Natural resources, population, Capital, human resource development and infrastructure, Role of education, research and knowledge – explanation of cross country differentials in economic growth and development. SUGGESTED READINGS Debraj Ray, Development Economics, Oxford University Press, 2009. Partha Dasgupta, Economics: A Very Short Introduction, Oxford University Press, 2007. Abhijit Banerjee, Roland Benabou and Dilip Mookerjee, Understanding Poverty, Oxford University Press, 2006. Amartya Sen, Development as Freedom, Oxford University Press, 2000. Thirlwall A.P, Growth & Development with Special References to Developing Economics, MAC MILLAN,

1999 Hywel G. Jones, An Introduction to Modern Theories of Economic Growth, McGraw-Hill Dani Rodrick, One Economics Many Recipes, Globalisation Institutions, Princeton University Press, 2009

Course Number: ECM302, Course Title: PUBLIC ECONOMICS Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session:------ Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39

UNIT 1: PUBLIC ECONOMICS THEORY Fiscal Functions: An Overview; Public Goods: Definition, Models of Efficient Allocation, Pure and Impure Public Goods, Free Riding; Externalities, The Problem and its Solutions, Market failure; Property Rights; the Coase Theorem. UNIT 2: SOURCES OF PUBLIC REVENUE Taxation: its economic effects; dead weight loss and distortions; efficiency and equity considerations; different approaches to the division of tax burden; tax incidence; optimal taxation (concept); Elasticity and buoyancy, taxable capacity. UNIT 3: PUBLIC EXPENDITURE AND DEBT Public Expenditure – Hypotheses, effects and evaluation; Public Debt -Sources, effects, burden and its management; Deficit Financing UNIT 4: BUDGET Kinds of budget; Zero base budgeting; different concepts of budget deficits, Balance budget multiplier; Budget of union government of India UNIT 5: INDIAN PUBLIC FINANCE Indian Tax System: structure and reforms; Deficits and public debt; Fiscal federalism in India-Theories and problems of center - state financial relations in India, Horizontal and vertical imbalances, Finance Commission, Fiscal policy and fiscal reforms in India. SUGGESTED READINGS: J. Hindriks, G. Myles: Intermediate Public Economics, MIT Press , 2006. Joseph E. Stiglitz, Economics of the Public Sector, 3rd Edition Jha. R., Modern Public Economics, Routledge, London. Atkinson, A.B. and J.E. Stiglitz , Lectures on Public Economics, TMH, New York. Government Budgeting in India, New Century Publications Economic Survey, Government of India (Latest). Course Title: ECM 303, STATISTICAL METHODS FOR ECONOMICS I Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session:------ Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: BASIC CONCEPTS AND DATA PRESENTATION Definition and Role of Statistics; The distinction between populations and samples and between population parameters and sample statistics; Data collection; Classification and Tabulation of Data; Frequency distribution and its diagrammatic representation -Simple and Graphic Method of presentation, Data-bar Diagram, Pie Diagram, Histogram, Polygons and Ogives [Practice with excel] UNIT 2: MEASURES OF CENTRAL TENDENCY Measures of Central Tendency-Arithmetic Mean, Median and Mode; comparisons of mean, median and mode; Geometric Mean and Harmonic Mean; simple and weighted averages [Practice with excel] UNIT 3: MEASURES OF DISPERSION Range; Mean Deviation; Quartile Deviation and Standard Deviation; Measures of Relative Dispersion, Curve of Concentration; Measures of economic inequality [Practice with excel] UNIT 4: SKEWNESS AND KURTOSIS Skewness: meaning of skewness and symmetry of distribution; different measures of skewness; definition, types and measures of kurtosis; Karl Pearson’s coefficient of kurtosis. [Practice with excel] UNIT 5: ELEMENTARY PROBABILITY THEORY Elements of Probability Theory: Sample Space, Probability Space, Events, Classical; Definition of Probability; The Addition Rule, The Multiplication Rule, Theorems of Total Probability, Conditional Probability and Statistical Independence; Limitations of the Classical definition, Frequency definition, Axiomatic Approach, Bayes’ Rule [Practice with excel]

SUGGESTED READINGS: Jay L. Devore, Probability and Statistics for Engineers, Cengage Learning, 2010 A.L. Nagar and R K Das: Basic Statistics, 2nd ed. OUP

Bowen & Starr, Basic Statistics for Business and Economics, McGraw Hill Freund, John E., Modern Elementary Statistics, Prentice Hall of India, New Delhi Levin and Rubin: Statistics for Management, Perarson Allen L. Webstar, Applied Statistics for Business and Economics: An Essentials Version, III edn, Tata McGraw Hill, 2008 Murray Spiegel, Schaum’s OUTlines Statistics, 4th edition,Tata McGraw Hill, 2008 Levin &Rubin: Statistics for Management, 7thedn, Pearson

COURSE NUMBER: ECM 401, COURSE TITLE: MONETARY ECONOMICS Class: BA(SS), Status of Course: MAJOR COURSE, Approved since session:------- Total Credits: 3, Periods (55 mts. each)/week: 3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: DEFINITION, FUNCTIONS AND THEORIES OF MONEY Money and its function; the concepts and definitions of money; measurement of money; advantages of money; theories of demand for money: the transactions and cash balance approach, the Keynesian analysis, Post Keynesian developments and Monetarist approach. UNIT 2: MONEY SUPPLY Financial Intermediaries- Nature and functions; theories of money supply; mechanistic model of money supply determination ; high powered money and behavioral model of money supply determination; methods of monetary control – Interest rates in closed and open economies – theories of term structure. UNIT 3: MONETARY TRANSMISSION MECHANISM Meaning – interest rate channel, credit channel, bank lending channel, balance sheet channel, exchange rate channel, other asset price channels. UNIT 4: MONEY AND THE THEORY OF INTEREST Real and monetary theories of interest rates-the term structure and the yield curve- determination of equilibrium exchange rates UNIT 5: COMMERCIAL AND CENTRAL BANKING Commercial banks-Functions and the process of credit creation, Banking sector reforms in India; Microfinance: Concept and progress in India; Central banks- objectives and methods of credit control; Monetary Policy: Objectives, Targets and indicators, , Monetary policy of RBI: An overview. SUGGESTED READINGS Bennett McCallum, Monetary Economics: Theory and Policy, latest edition, Macmillan. C Rangarajan , Indian Economy: Essays in Money and Finance, UBSPD. Narendra Jadhav , Monetary Economics for India, latest edition, Macmillan. L. M. Bhole, Financial Institutions and Markets, latest edition, Tata McGraw Hill & Co., New Delhi, 2002 Frederic S. Mishkin, Monetary Policy Strategy, Prentice Hall of India, New Delhi, 2009 Course Number: ECM402, Course Title: INTERNATIONAL ECONOMICS Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: ……………. Total Credits:3, Periods(55 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: THEORIES OF INTERNATIONAL TRADE Difference between International trade and National trade; The comparative Cost Theory; The Opportunity Cost Theory; Hecksher Ohlin Theory; Terms of Trade-Factors determining terms of Trade; Causes of adverse terms of trade in developing nations. UNIT 2: TRADE POLICY Protectionism vs Free trade; Instruments of trade policy; Political economy of trade policy; Controversies in trade policy UNIT 3: FOREIGN EXCHANGE AND EXCHANGE CONTROLS Fixed and Flexible exchange rates; Spot and Forward Rates, Determination of Exchange Rate-Mint-Par Parity Theory and Purchasing Power Parity Theory; Convertibility of currency & devaluation. Currency Swaps – Foreign Exchange Risks, Hedging and Speculation UNIT 4: BALANCE OF PAYMENTS Meaning and Structure; Balance of Trade and Balance of Payment; Causes and measures to correct dis-equilibrium in Balance of Payments. Current & Capital accounts UNIT 5: INTERNATIONAL INSTITUTIONS The IMF; The World Bank, The WTO; Trade Blocks- SAARC, ASEAN, BRICS, EU, ADB SUGGESTED READINGS: Krugman and Obstfeld: International Economics: Theory and Policy, latest edition, Pearson Education Salvatore D: International Economics, latest edition, PHI, New York Bo-Sodersten S Goeffrey Reed: International Economics, latest edition, St. Martin's Press, New York

Fransis Cherunilum: International Economics, latest edition, McGraw Hill Education (India) Private Limited. Caves, Frankel and Jones, World Trade and Payments: An Introduction, Harper Collins

Course Number: ECM403, Course Title: MATHEMATICAL METHODS FOR ECONOMICS Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: …………. Total Credits:3, Periods(55 mts. each)/week:3(L-5+T-0+P/S-0), Min.pds./sem.:39 UNIT 1 INTRODUCTION Principle of Mathematical Induction, Complex Numbers and Quadratic Equations, Log, Antilog: characteristics; Surds and Indices (laws), Binomial theorem (elementary), UNIT 2 BASIC CONCEPTS, FUNCTIONS AND GRAPHS Sets and set operations; Ordered pairs; the real numbers; natural numbers; integers; rational and irrational numbers; absolute value and intervals; inequalities. The general concept of function, types of function (linear, quadratic, power, exponential, inverse); graphs of functions; Applications in Economics UNIT 3 DETERMINANTS Introduction, Expansion of 2nd order and 3rd order determinants; Properties, Minors, Cofactors, Properties of determinants, Cramer's rule Matrices-Introduction, Types, Basic operations-addition, Subtraction, Multiplication determinants, transpose, ad joint and inverse of a square matrix, system of linear equation and economic application of matrices. UNIT 4 LIMITS, CONTINUITY AND SINGLE VARIABLE DIFFERENTIAL CALCULUS Limits, continuity and differentiability, rules of differentiation (simple differentiation, sums, products, and quotients); Second and higher order derivatives, power rule, chain rule, implicit differentiation; Linear approximation and differentials; Quadratic approximations, Elasticities the Intermediate-value Theorem; the Extreme-value Theorem; The Mean-value Theorem; Indeterminate forms and L’Hopital’s rule; Applications in Economics UNIT 5 SINGLE VARIABLE OPTIMIZATION AND INTEGRAL CALCULUS Stationary points of a function, Maxima and Minima(local and global); Convexity and Concavity of functions; Points of inflection; Optimization of economic functions Rules of integration, integration by parts, integration by substitution, indefinite integral, Definite Integral, Proper and Improper integral; Areas under curves and economic application of integration SUGGESTED READINGS: Knut SydsaeterAnd Peter J Hammond, Essential Mathematics For Economic Analysis, 4th edn, Pearson Education, 2012 Chiang A.C. Kevin Wainwright, Fundamental Of Mathematical Economics, 2005, 4th edn, McGraw-Hill Hoy M, I Livernois, C Mckenna, R Rees And T Stengos, Mathematics For Economics, 3rd edn, TIM Press, 2011 Dowling Edward, Schaum's Outline of Theory And Problems of Introduction To Mathematical Economics, 3rd Edn McGraw-Hill

Course Number: ECM406, Course Title: DEMOGRAPHY Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: …………… Total Credits:3, Periods(50 mts. each)/week:3(L-3+T-0+P/S-0), Min.pds./sem.:39 UNIT 1: CONCEPT AND SCOPE OF DEMOGRAPHY Concept and Scope of Demography; Relationship with other sciences; Significance of Demographic study; Birth rate and Death rate; Density of Population Growth Rate of Population; Population and Economic Development; Population Pyramid; Gender Analysis; Population & Environment. UNIT 2: POPULATION THEORIES Malthusian Theory; Post-Malthusian Theory; Optimum Theory; Bio-Theories; Socio-Economic Theory, Theory of Transition, Eugenics and Euthenics UNIT 3: DEMOGRAPHIC METHODS Measurement of Fertility & Mortality; Determinants of Fertility & Mortality; Infant Mortality Rate; Maternal Mortality Rate, Factors for decline in mortality in recent past UNIT 4: POPULATION AND HUMAN DEVELOPMENT ISSUES Culture and fertility, education fertility, demography and household economic behaviour, Population Projection-Methods, importance; Projection & Forecast UNIT 5: DEMOGRAPHIC PROFILE OF INDIA Growth, Distribution & Composition of population, Changing characteristics of population in India, Indian census-Methods, Census 2011, Indian Population Policy (latest); Migration-Meaning, types, and causes. SUGGESTED READINGS: SN Agarwala: India’s Population Problem, latest edition, Tata McGraw Hill Publication. Bogue, D.J., Principles of Demography, latest edition, John Wiley, New York Bhende A.A. & Tara Kanitkar ‘Principles of Population Studies’ Himalaya Publishing, Latest edition House, Bombay. Srinivasan K. : Basic Demographic techniques and Applications(1998), sage publication, new Delhi. A.K. P.C. Swain (2008) – ‘Population Studies’ – Kalyani Publications, Ludhiana. Course Number: ECM501, Course Title: MICROECONOMIC ANALYSIS Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: MARKET STRUCTURE AND EQUILIBRIUM Market forms – perfect and imperfect forms – equilibrium of a firm under perfect competition, monopoly, monopolistic competition, duopoly and oligopoly – importance of time element in price theory – price discrimination and measure of monopoly power – control and regulation of monopoly – collusive price leadership – kinked demand curve-taxation and equilibrium of a firm-comparison of various markets. Preference; utility; budget constraint; choice; demand; Slutsky equation; buying and selling; choice under risk and inter temporal choice; revealed preference UNIT 2: PRICING METHODS Mark up pricing – break even pricing – rate of return pricing – variable cost pricing – peak load pricing – going rate pricing – controlled or administered pricing – minimum support price. UNIT 3: FACTOR PRICING Market for the factors of production – marginal productivity theory of pricing of factor (distribution theory) – Euler’s theorem-linkages among the factors of production – theories of wages – determination – wages and collective bargaining – wage differentials – rent – Ricardian and modern theories of rent – scarcity rent – differential rent and quasi rent – interest – classical and Keynesian theories – profit – innovation,

risk and uncertainty theories – the concept of normal profit – monopoly profit. Different Pricing Strategies: Capturing consumer surplus; price discrimination – first, second and third degree price discrimination; peak-load pricing; quality discrimination, dumping in international market.

UNIT 4: FACTOR MARKET Payback period – average annual rate of return, net present value, internal rate of return, price changes, risk and uncertainty – elements of social cost benefit analysis. UNIT 5: WELFARE ECONOMICS What is welfare economics – economic and general welfare problems in measuring welfare – classical welfare economics – Pigovian welfare condition – Pareto’s criteria – value judgment – concept of a social welfare function-compensation principle –the Kaldor- Hicks criterion. SUGGESTED READINGS Varian H.R: Intermediate Microeconomics: A Modern Approach, East West Press Pindyck, Rubinfeld and Mehta: Microeconomics, Pearson Education Asia Baumol, W. J.: Economic Theory and Operation Analysis, Prentice Hall, India Sen, A.: Microeconomics – Theory and Applications, OUP A. Koutsoyannis: Microeconomics A Modern Approach, East West Press, New Delhi Course Number: ECM502, Course Title: INDIAN ECONOMIC DEVELOPMENT II Class: BA/BA(SS), Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1 STRUCTURE OF THE INDIAN ECONOMY Organising an Economy; Evolution of the Indian Economy – planned and mixed economy; Role of State in Indian Economy; Sectors of Indian Economy; Uniqueness of the Indian Economy; The structural change of Indian economy since independence– sectoral aspects of Indian Economy UNIT 2 INDIA’S NATIONAL INCOME Trend and pattern of India’s per capita income and GNP since 1991; Changing contribution of different sectors in NI; Social Security Measures given in recent times by GOI UNIT-3 PROBLEMS OF INDIAN ECONOMY Poverty - The concept and measurement of poverty, Causes of poverty and Remedies; Unemployment - concept and measurement of unemployment, Causes of unemployment and Remedies Economic Inequality - Concept and measurement of Economic Inequality, Causes of Economic Inequality and Remedies. UNIT 4 ECONOMIC REFORMS IN INDIA Need and objectives of reforms in India, Economic Reforms – Liberalisation, Privatisation, Globalisation, Major developments in Indian economy in the post reform period UNIT 5 INDIA AND THE GLOBAL ECONOMY An Introduction, Global Economy Today, Euro zone Crisis, Changing Dynamics, India and BRICS; Prospects for India, India’s External Sector –Composition of exports and imports, Major trading partners (US, EU, West Asia) and India’s contribution SUGGESTED READINGS: Misra, S.K &Puri, V.K: Indian Economy, Himalaya Publishing House Pvt Ltd, 32nd edn, 2014 Kapila, Uma: Indian Economy: Performance and Policies, 2013, Academic Foundation Deepashree, Indian Economy: performance and Policies, Tata McGraw Hill, 2008 Economic Survey 2014-15, Ministry of Finance, Govt. of India, New Delhi

Course Number: ECM503, Course Title: STATISTICAL METHODS FOR ECONOMICS II Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: ……….. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: RANDOM VARIABLES AND PROBABILITY DISTRIBUTIONS Definition of random variable: discrete and continuous random variable, probability mass function and probability density functions, Expectation and Variance of random variables, Joint Probability Distribution: Concept of Independence, Marginal and Conditional Distribution. Univariate Probability Distributions: Binomial, Poisson, Limiting form of Binomial distribution (with proof), Limiting form of Poisson distribution (no proof), Importance of Normal Distribution in Statistics, Central Limit Theorem (statement only). UNIT 2: INTRODUCTION TO SAMPLING DISTRIBUTIONS Population versus sample, Methods of sampling, simple random sample, sampling distribution of sample mean for normal and non-normal populations, Chebyshev’s inequality, law of large numbers, optimum size of sample, central limit theorem UNIT 3: INTRODUCTION TO STATISTICAL INFERENCE Properties of point estimator - unbiasedness, relative efficiency and consistency, Testing of Hypothesis - type I and type II errors, level of significance, power of a test, Use of z, chi-square, t and F statistics - large sample and small sample tests for mean, one tail and two tail tests for difference of means, Chi-square test for (i) goodness of fit and (ii) independence of two attributes, F-test for ratio of two variances, one-way analysis of variance, confidence intervals for mean and variance UNIT 4: SIMPLE REGRESSION AND CORRELATION Simple linear regression; method of least squares; linear and exponential trend; Product moment – covariance, correlation, rank correlation U NIT 5: TIME SERIES AND INDEX NUMBERS Definition and components of a time series; seasonal variations – measuring through -a) simple average method- and ratio to trend method – cyclical variations – measuring through residual method – trend and its measurement through a) method of moving averages and method of least squares (annual production, sales, profit. etc.,) – fitting a second degree trend (population growth) – growth curves, logistic curve; Definition of index number – types of index number – price index-quantity index –value index – simple index number – weighted index number – construction of index number – problems in construction – methods in construction – simple and weighted – Laspeyre’s price index (cpi in india) – Paasche’s price index – Fisher’s ideal index – splicing of index number – deflating SUGGESTED READINGS Jay L. Devore, Probability and Statistics for Engineering and the Sciences, Cengage Learning, 2014 William G. Cochran, “Sampling Techniques”, John Wiley, 3rd edn, 2008 Allen L. Webstar, Applied Statistics for Business and Economics : An Essentials Version, III edn, Tata McGraw Hill, 2008 Murray Spiegel, Schaum’s OUTlines Statistics, 4th edition, Tata McGraw Hill, 2008 Levin &Rubin : Statistics For Management , 7th edn, Pearson Spiegel and Schiller, Probability and Statistics, Schaum’s OUTlines, 2nd edition, Tata McGraw Hill, 2008

Course Number: ECM504, Course Title: HISTORY OF ECONOMIC THOUGHT Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: ………… Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: EARLY PERIOD Nature and importance of history of economic thought – ancient economic thought – Aristotle, Plato. Mercantilism: Main Characteristics; Physiocracy; natural order; Primacy of agriculture, Social classes, tableau Economique, taxation. UNIT 2: CLASSICAL PERIOD Adam Smith: Views on division of labour, theory of value, capital accumulation, distribution, trade and economic development; David Ricardo: main contributions in brief; Thomas Robert Malthus: Theory of Population, and Gluts Theory, J.B. Say: Laws of Market; J. S. Mill: Restatement of the Classical Theory, K. Marx- theory of value; theory of capitalist competition. UNIT 3: THE MARXIAN CHALLENGE AND MARGINAL REVOLUTION Karl Marx - A Contribution to the Critique of Political Economy, William Stanley Jevons - The Theory of Political Economy, Alfred Marshall - Principles of Economics, Eugen von Bohm-Bawerk - The Positive Theory of Capital UNIT 4: KEYNESIAN IDEAS The aggregate economy, Liquidity preference theory and Liquidity trap; Marginal Efficiency of Capital and Marginal efficiency of investment, wage rigidities under employment equilibrium, role of fiscal Policy; deficit spending and public works, Multiplier Principle UNIT 5: INDIAN ECONOMIC THOUGHT Early economic ideas; Kautilya, Modern economic ideas, Naroji, Economic ideas of Gandhi; Village, Swadeshi, Place of machine and Labour, cottage industries, trusteeship, Dr. Babasaheb Ambedkar, Amartya Sen. SUGGESTED READINGS: B.N. Ghosh & R. Ghosh: Concise History of Economic Thought, Himalaya Pub. House, Ganguli, B.N.: Indian Economic Thought, A 19th Century Perspective, Tata McGraw Hill, New Delhi. Ekelund, R.B and Hebert, R.F.: A History of economic theory and method, McGraw-Hill. Grey, A. And A.E. Thomson: The Development of Economic Doctrine, 2nd Edition, Longman Group, London. Kautilya: The Athashastra Edited Rearranged Translated And Introduced By L. N. Rangaranjan, Penguin Books, New Delhi. Schumpeter, J.A.: History of Economic Analysis, Oxford University Press, New York. Seshadri, G.B.: Economic Doctrines, B.R. Publishing corporations, Delhi. Hajela, T.N.(2008), History of Economic Thought, Ane books Pvt.Ltd. Bhatia, H.L: History of Economic Thought, Vikas publishing house, New Delhi. Course Number: ECM601, Course Title: MACRO-ECONOMIC ANALYSIS & POLICY Class: BA(SS) Honours, Status of Course:MAJOR COURSE, Approved since session: …………….. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: CONSUMPTION AND INVESTMENT FUNCTION Consumption – absolute income hypothesis, relative income hypothesis, life cycle hypothesis, permanent income hypothesis – investment (business fixed investment, residential investment and inventory investment) – neo-classical theory of investment – accelerator theory of investment UNIT 2: THE CLOSED ECONOMY IN THE SHORT RUN The goods market and derivation of IS curve – real influences and Shift in IS schedule – the money market and derivation of LM curve – the shift in LM curve – determination of equilibrium income and interest rates – the relative efficacy of fiscal and monetary policy. UNIT 3: THE AGGREGATE DEMAND AND SUPPLY The derivation of aggregate demand and supply curves – the Keynesian aggregate demand with vertical aggregate supply curve – sources of wage rigidity and unemployment – the flexible price with fixed

money wage model – labour supply and money wage – the shift in aggregate supply – Keynes vs. Classics. UNIT 4: INFLATION AND UNEMPLOYMENT Inflation: concepts and consequences- The Phillips curve – the natural rate of unemployment – factors affecting natural rate of unemployment – the adaptive expectation and long-run Phillips curve – the concept of rational expectations – policy ineffectiveness debate.

UNIT 5: OPEN ECONOMY MODELS The Mundell – Fleming model: determining equilibrium output in a small open economy; the monetary and fiscal policy under flexible and fixed exchange rate regimes; the Mundell- Fleming model with changing price level. SUGGESTED READINGS: R T Froyen (2008), Macroeconomics, Theory and policies, Prentice Hall N. Gregory Mankiw (2002) Macroeconomics, 5th or latest edition, Worth Publishers Rudiger Dornbusch, Stanley Fischer and Richard Startz,(2007) Macroeconomics, 6th or latest edition, McGraw Hill. Shapiro, E.: Macro-Economic Analysis, Galgotia Publication, New Delhi William Branson: Macro Economic Theory and Policy, Harper & Row Course Number: ECM602, Course Title: ECONOMICS OF HEALTH AND EDUCATION Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: ………. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: ROLE OF HEALTH AND EDUCATION IN HUMAN DEVELOPMENT Importance in poverty alleviation; health and education outcomes and their relationship with macroeconomic performance. UNIT 2: MICROECONOMIC FOUNDATIONS OF HEALTH ECONOMICS Demand for health; uncertainty and health insurance market; alternative insurance mechanisms; market failure and rationale for public intervention; equity and inequality. UNIT 3: EVALUATION OF HEALTH PROGRAMS Costing, cost effectiveness and cost-benefit analysis; burden of disease. UNIT4: EDUCATION: INVESTMENT IN HUMAN CAPITAL Rate of return to education: private and social; quality of education; signaling or human capital; theories of discrimination; gender and caste discrimination in India. UNIT 5: HEALTH AND EDUCATION SECTOR IN INDIA: AN OVERVIEW Health outcomes; health systems; health financing, Literacy rates, school participation, school quality measures SUGGESTED READINGS: William, Jack, Principles of Health Economics for Developing Countries, World Bank Institute Development Studies, 1999. World Development Report, Investing in Health, The World Bank, 1993. Ronald G., Ehrenberg and Robert S., Smith, Modern Labor Economics: Theory and Public Policy, Addison Wesley, 2005.

Course Number: ECM603, Course Title: BASIC ECONOMETRICS Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65

UNIT 1: NATURE AND SCOPE OF ECONOMETRICS & REVIEW OF STATISTICS Meaning and Methodology of Econometrics, Descriptive Statistics- a. univariate case b. bivariate case, Random Variables and Probability distributions, Estimation of Parameters; Hypothesis Testing UNIT 2: SIMPLE LINEAR REGRESSION MODEL Specifications of the Model – Assumptions – Deriving the Ordinary Least Squares (OLS) Estimates – Gauss Markov Theorem – Estimation of the Error Variance – Statistical Inference in the Linear Regression Model – Confidence Intervals for the Estimated Parameters and the Testing of Hypotheses – Coefficient of Determination – Prediction with the Simple Regression model UNIT 3: CLASSICAL MULTIPLE LINEAR REGRESSION MODEL Least squares estimation; R2 and adjusted R2; Partial correlations, Classical Model: Gauss Markov Theorem; Standard errors of estimate; Standard errors of regression coefficients, Tests of hypotheses: Single parameters; Sets of parameters, Forecasting UNIT 4: VIOLATIONS OF CLASSICAL ASSUMPTIONS MULTICOLLINEARITY, HETEROSCEDASTICITY, AUTOCORRELATION UNIT 5: DISTRIBUTED LAG MODEL AND DUMMY VARIABLE Application of Distributed Lag Model and Autocorrected Error Models in sort run demand analysis, Koyck Model, Nerlove model. SUGGESTED READINGS: D. N. Gujarati (2003): “Essentials of Econometrics”, 3rd Edition, McGraw Hill. C. Dougherty (2007): “Introduction to Econometrics”, 3rd Edition, Oxford University Press. RamuRamanathan (2002): “Introductory Econometrics With Applications”, 5th Edition, South-Western Koutsoyiannis A: Theory of Econometrics E L B S/ Macmillan Jay L. Devore, Probability and Statistics for Engineering and the Sciences, Cengage Learning, 2014 Software Packages: Eviews, Spss, Excel

Course Number: ECM604, Course Title: ENVIRONMENTAL ECONOMICS Class: BA(SS) Honours, Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits:5, Periods(55 mts. each)/week:5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: THEORY AND CONCEPT Nature and significance of environmental economics – definition and scope of environmental economics – basic theory – market system and the environment – welfare and environment – the economics of externalities UNIT 2: ENVIRONMENT AND ECONOMICS Environment – economy linkage – environment as a necessity and luxury – population and environment linkage – environmental use as an allocative problem – environment as a public good – valuation of environmental damages: land, water, air and forest. UNIT 3: ENVIRONMENTAL ISSUES, DEVELOPMENT DYNAMICS AND ASSESSMENT Economic development and environmental problems – air pollution – water pollution – sound pollution – energy use and environment problem – pollution and urbanization – global warming and green house effect – health, urbanization, transport and technology – environmental degradation, Environmental Accounting UNIT 4: POLICY MEASURES Basic approach – design of environmental policy – Indian environment policies and performance – pollution control boards and their function. UNIT 5: INTERNATIONAL ENVIRONMENTAL ISSUES: Trans-boundary environmental problems; Economics of climate change; Trade and Environment, WTO and environment and EU policies and environment, United Nations Climate Change Conference SUGGESTED READINGS M. Karpagam, Environmental Economics, latest edition, Sterling Publishers, New Delhi.

Bhattacharya, Rabindra N., “Environmental Economics-An Indian Perspective”, latest edition, Oxford University Press, New Delhi Boumal, W.J. and W.E. Oates, “The Theory of Environmental Policy”, latest edition, Cambridge University Press, UK Hanley, N.J.F. Shogren and B. White, “Environmental Economics in Theory and Practice”, latest edition OUP, Delhi. Kolstad, Charles D., “Environmental Economics”, latest edition, Oxford University Press, New York Tietenberg, T., Environment and Natural Resource Economics, latest edition, Pearson Education Inc. New Delhi.

Course Number: DBE701, Course Title: MACROECONOMIC THEORY Class: PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session:……………. Total Credits: 5, Periods (55 mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: REVIEW OF AGGREGATE SUPPLY-AGGREGATE DEMAND MODEL Review of IS-LM model, Aggregate demand, Aggregate labour market, Aggregate supply, Effectiveness of fiscal and monetary policy. UNIT 2: OPEN ECONOMY MODELS Open Economy models, Marshall-Lerner condition, Mundell-Fleming model. UNIT 3: RATIONAL EXPECTATIONS AND IMPLICATIONS FOR ECONOMIC POLICY Expectations augmented Phillips Curve, Adaptive expectations, Rational expectations hypothesis, Lucas supply function, policy ineffectiveness proposition (PIP), counter example to PIP, Dornbusch exchange rate overshooting model. UNIT 4: ECONOMIC GROWTH Solow-Swan model, Ramsey model, Endogenous growth UNIT 5: SCHOOLS OF MACROECONOMIC THOUGHT Classicals, Keynesians; New Classicals, and New Keynesians SUGGESTED READINGS: Dornbusch, R., Fischer S. and R. Startz, “Macroeconomics”, latest edition, McGraw Hill. Mankiw, N. Gregory (2012): “Macroeconomics”, 8th edition, Worth Publishers. Blanchard, Olivier and D.R. Johnson (2006): “Macroeconomics”, 6thed, Pearson Education. Froyen, Richard (2012): “Macroeconomics”, 10th edition, Pearson Education Asia. Attfield, C.L.F., D. Demery and N.W. Duck (1991): “Rational Expectations in Macroeconomics”, 2nd edition, Blackwell. David Romer: “Advanced Macroeconomics”, 4th edition, McGraw Hill, 2011. WF Branson, “Macroeconomic Theory and Policy”, 3/e Harper Collins, 1989. Dornbusch, R. (1980), “Open Economy Macroeconomics”, 5thed, Basic Books, 1980. Jones, C.I., “Introduction to Economic Growth”, W.W. Norton & Company, 2002. Gordon, R.J., “Macroeconomics”, 12thed, Prentice-hall India Limited. Heijdra, Ben J., “The Foundations of Modern Macroeconomics”, Oxford University Press, 2nded, 2009. Steven M. Sheffrin (1996), “Rational Expectations”, Cambridge University Press, 2nded, 1996. Barro, Robert J. and Sala-i-Martin, Xavier, “Economic Growth”, Prentice Hall of India Private Limited, 2nd edition, 2007. Caves, R.E., J.A. Frankel, and R.W. Jones (2006), “World Trade and Payments, 10thed, Prentice Hall. Course Number: DBE 702, Course Title: INDIAN ECONOMY-DEVELOPMENT, PERSPECTIVES& CHALLENGES Class: PGDBE (SS), Status of Course: MAJOR COURSE, Approved since session: ……. Total Credits: 5, Periods (55mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: RESOURCE DEVELOPMENT IN INDIA Resource profile of India-policies relating to the development of land, forest, water, fisheriesand mineral resources of India- Economic development and Environmental degradation- Landdegradation and soil erosion- Deforestation – Faulty utilization of water resources – Miningeffects- Atmospheric pollution – Measures taken -Global climate change and India-variousGlobal summits and their implications to India UNIT 2: PROFILE OF HUMAN RESOURCES OF INDIA Characteristics of Indian Population - qualitative and quantitative aspects – Population as afactor of development- Population policy –National population Policy (2000), Demographicdividend- Human

Development during the plan period- Appraisal of Government measures –Human Development Index of States and India – India’s Human Development record in global perspective.

UNIT 3: INFRASTRUCTURE DEVELOPMENT IN INDIA Infrastructure and Economic development -Economic Infrastructure –Energy, Power,Transport, communication, science and technology-policies pertaining to Economic Infrastructure Development –Financing of infrastructure development –PPP model-Financing institutions-international collaborations -Social Infrastructure-Education, Health –Achievements and failures of Education and Health systems of India –outlook for future development of social Infrastructure UNIT 4: PLANNING ECONOMIC DEVELOPMENT Alternative development strategies- goal of self-reliance based on import substitution and thepost 1991 globalization strategies based on stabilization and structural adjustment packages –Indicative planning – Decentralized planning – District planning- Local planning- Panchayat Experience -73rd and 74th constitutional Amendments- critical Evaluation of Plan performance in India, National Institute for Transforming India (NITI Aayog) UNIT 5: AGRICULTURE AND RURAL DEVELOPMENT Current issues in Indian Agriculture-New thrust Areas in agriculture and future prospects ofGreen Revolution- Commercialization and diversification -Food security issues-Pricing ofagricultural inputs and outputs-subsides in Agriculture-Economic Reforms and Agriculture-Impact of WTO on Indian Agriculture – Food processing- Agricultural policies- PublicDistribution System- Agricultural finance -, Agriculture inputs - marketing and warehousing– policies for sustainable Agriculture- Impact of public Expenditure on Agricultural Growth –Rural Development programmes including poverty alleviation programmes- Bharat Nirman, Mahatma Gandhi National Rural Employment Guarantee programme – Water Supply, Sanitation, Public Health Programmes. SUGGESTED READINGS: Ahluwalia. I.J. and I.M.D Little, India’s Economic Reforms and Development, latest edition, Oxford University Press (OUP), New Delhi Bardhan, P.K., The Political Economy of Development in India, latest edition, OUP, New Delhi. Bawa,R.S. and P.S. Raikhy, Structural Changes in Indian Economy,latest edition, Gurunanak Dev University press, Amritsar. Chakravarty, S., Development planning: The Indian Experience, latest edition, OUP, New Delhi. Datt.R. (2001), Second Generation Economic Reforms in India, latest edition, Deep & Deep Publications

Course Number: DBE703, Course Title: QUANTITATIVE TECHNIQUES IN BUSINESS & ECONOMIC ANALYSIS Class: PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session: 2009-10 Total Credits: 5, Periods (55 mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: PROBABILITY THEORY Basic Definitions: Sample Space and Probabilities, Basic Rules for Probability- Range of Values, Mutually Exclusive Events, Conditional Probability, Combinatorial Concepts, Bayo’s Theorem, Stirling’s Approximation to n!, Mathematical Expectation UNIT 2: STATISTICAL INFERENCE ESTIMATION AND HYPOTHESIS TESTING The Meaning of Statistical Inference, Twin Branches of Statistical Inference, Estimation of Parameters, Properties of Point Estimators (Linearity, Unbiased ness, Minimum Variance, Efficiency, Best Linear Unbiased Estimation (BLUE), Consistency, Hypotheses Testing.(T,F, Chi- Square), Regression Analysis UNIT 3: ELEMENTARY LINEAR ALGEBRA 2-,3- and n- Dimensional Row and Column Vectors, Vector Addition and Scalar Multiplication, Length of a Vector, Orthogonality Matrices and Matrix Operations, Rank, Elementary Row Operations and Computation of Rank, Determinants, The Ad -Joint Matrix and Formula for Inverse, Linear Equation Systems in Matrix and Vector Notation, Matrix Methods of Solution and Cramer’s Rule UNIT 4: DIFFERENTIAL CALCULUS AND APPLICATIONS Derivative of a Function, Techniques of Differentiation, Implicit Differentiation, Differentials and Linear Approximation Use of Exp and Log Functions, Optimization: Stationary Points, Local and Global Optima; Location of Turning Points of Inflexion Using Derivatives; Role of Concavity and Convexity. Applications, Limits of functions, maxima- minima, Constrained Optimization, Lagrange Multiplier, Economic Examples UNIT 5: INTEGRAL CALCULUS AND ECONOMIC APPLICATIONS The indefinite integral, The definite integral, Properties of integrals, Improper integrals, Techniques of integration, Linear, first order, autonomous difference equations SUGGESTED READINGS: A.C.Chiang: “Fundamental Methods of Mathematical Economics”, McGraw Hills Murray S. Speigel: “Statistics”, Schaum Series Speigal, M.R. (1992): “Theory and Problems of Statistics”, McGraw Hill Book Co. London. Richard I. Levin, Charles A. Kirkpatrick, David S. Rubin, Joel P. Stinson: “Quantitative Approaches to Management”, latest edition, McGraw-Hill Kmenta, J. (1997): “Elements of Econometrics” (Reprint Edition), University of Michigan Press, New York. Sydsaeter and Hammond Allen L. Webster: “Applied Statistics for Business and Economics”, 3e, McGraw Hill K Sydsaeter, P. Hammond – (2005): “Essential Mathematics for Economic Analysis”, Prentice Hall Amir D. Aczel: “Complete Business Statistics” McGraw Hill Course Number: DBE704, Course Title: FINANCIAL ECONOMICS Class: PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session: ------ Total Credits: 5, Periods (55 mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT1: INTRODUCTION TO FINANCIAL ECONOMICS Definition and meaning, Scope; Financial intermediation; Financial system;Components of financialmarkets; Money markets and capital markets – Primary and secondary markets, Organized and over-the counter markets; Securities traded in financial markets; Initial Public Offers; Follow on public offer, Rights issue, Bonus issue, Private placements. UNIT 2: FINANCIAL MARKETS, CHARACTERISTICS AND OPERATIONS Stock market – types of shares, primary and secondary market; Market indexes, GDR and ADR, Stock Market and Macroeconomic Variables, Stock Market and issues of Foreign Capital Inflows.

Bond Market - Present Value, Price and Yield, Yield-To-Maturity, Yield-To-Call, Current Yield, Holding Period Return; Risks in Bonds, Corporate Bond Market in India Money market - Call Money Market, Treasury Bill Market, Commercial Bill Market, Certificate of Deposit, Commercial Paper, Money Market Mutual Fund(MMMF), Repo and Reverse Repo.

UNIT 3: INVESTMENT THEORY AND PORTFOLIO ANALYSIS Basic theory of interest; discounting and present value; internal rate of return; bond prices and yields; the term structure of interest rates; yield curves; spot rates and forward rates; portfolios of assets; portfolio mean and variance; feasible combinations of mean and variance; mean-variance portfolio analysis: the Markowitz model; The capital market line; the capital asset pricing model; the beta of an asset and of a portfolio; security market line; use of the CAPM model in investment analysis and as a pricing formula. UNIT 4: OPTIONS AND DERIVATIVES Introduction to derivatives and options; Forward and futures contracts; Options; Other derivatives; forward and future prices; Stock index futures; Interest rate futures; the use of futures for hedging; Duration-based hedging strategies; Option markets; Call and put options; Factors affecting option prices; Put-call parity; option trading strategies: spreads; Straddles; Strips and straps; Strangles; The principle of arbitrage; discrete processes and the binomial tree model; Risk-neutral valuation. UNIT 5: CORPORATE FINANCE Patterns of corporate financing: Common stock; Debt; Preferences; Convertibles; Capital structure and the cost of capital; corporate debt and dividend policy; The Modigliani-Miller theorem. SUGESSED READINGS David G. Luenberger, Investment Science, Oxford University Press, USA, 1997. Hull, John C., Options, Futures and Other Derivatives, Pearson Education, 6th edition, 2005. Thomas E. Copeland, J. Fred Weston and KuldeepShastri, Financial Theory and Corporate Policy, Prentice Hall, 4th edition, 2003. Richard A. Brealey and Stewart C. Myers, Principles of Corporate Finance, McGraw-Hill, 7th edition, 2002. Roy Baily(2005),The Economics of Financial Markets. Boddie, K.M., and Ryan,2003,Investments,McGraw-Hill. William Sharpe, Gordon Alexander and Jeffery Bailey, Investments, Prentice Hall of India, 6th edition, 2003. Course Number: DBE801, Course Title: MICROECONOMIC THEORY Class:PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session: ……………. Total Credits: 5, Periods (55 mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: CONSUMER THEORY Preferences; utility; budget constraint; choice; demand; Slutsky equation; buying and selling; choice under risk and intertemporal choice; revealed preference, Expected utility theorem and attitude towards risk - utility function and expected utility; risk preference and risk aversion; concept of risk premium and certainty equivalence. UNIT 2: PRODUCER AND COST THEORY Technology; isoquants; production with one and more variable inputs; returns to scale; short run and long run costs; cost curves in the short run and long run; profit and cost functions. UNIT 3: GENERAL EQUILIBRIUM Partial and general equilibrium; Walrasian excess demand and input-output approaches to general equilibrium existence- stability and uniqueness of equilibrium – general equilibrium, coalitions and monopolies; production without consumption- One sector model, homogeneous functions, income distribution; production without consumption-Two sector model, relationship between relative commodity and factor prices (Stopler Samuelson theorem),relationship between output mix and real factor prices, effect of changes in factor supply in closed economy ( Rybczynski theorem), production and consumption.

UNIT 4: WELFARE ECONOMICS Pigovian welfare economics; Pareto optimal conditions; value judgment; social welfare Function; Compensation principle; Inability to obtain optimum welfare – Imperfections, market failure, decreasing costs, uncertainty and non-existent and incomplete markets; Theory of Second Best- Arrow’s impossibility theorem; Rawl’s theory of justice, equity-efficiency trade off UNIT 5: GAME THEORY AND INFORMATION ASYMMETRY Game theory and competitive strategy, markets with Asymmetric Information - quality uncertainty and the market for Lemons: adverse selection and moral hazard READINGS: Koutsoyiannis, A. (2005) - Modern Microeconomics, Macmillan press, London SenA(2005). - Microeconomics: Theory and Application, Oxford University Press, New Delhi Stigler,G (2008). - Theory of Price, PHI, New Delhi Varian, H.R.(2005) - Microeconomic Analysis, W.W.Norton, NewYork Baumol,W.J (1998). - Economic Theory and Operations Analysis, Prentice Hall, New York Pindyck and D. Rubinfield (2005) - Microeconomics, East West Press, London E.K.Browning and J.M. Browning (2003) - Microeconomics; Theory and Applications, Kalyani Publisher, New Delhi Course Number: DBE802, Course Title: INTERNATIONAL TRADE & FINANCE Class: PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session: …………… Total Credits: 5, Periods (55 mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: TRADE THEORIES Determinants of Trade: Classical, Neo-classical and Modern trade theories, Gains from trade, Terms of trade,Tariff and Non-tariff barriers UNIT 2: BALANCE OF PAYMENTS Meaning and Components of BOP, Equilibrium and Disequilibrium in the Balance of Payments, The Process of Adjustment Under System of Gold Standard, Fixed and Flexible Exchange Rules. Direct Controls for Adjustment. UNIT 3: FOREIGN EXCHANGE MARKETS Theories of Exchange rate determination; Introduction; Structure and Functions of foreign Exchange market; Methods of Foreign payments; Concepts of Spot and Forward exchange Rate; Determinants of Exchange Rate under Fixed and Flexible Exchange Rate; Exchange rate system in India; Regime and Role of hedging in the determination of exchange rate; Exchange rate risks UNIT 4: INTERNATIONAL FINANCIAL INSTITUTIONS International Trade and Financial Institutions Functions of GATT/WTO/TRIPS/TRIMS, IMF, World Bank and Asian Development Bank – Their Achievements and Failures, WTO and World Bank from the point of view of India. UNIT 5: INTERNATIONAL TRADE POLICIES IN INDIA Recent Changes in Direction and Composition of Trade and their Implications, Rational and Impact of Trade Reforms since 1991 on BOP, Employment and Growth; Working and Regulations of MNCs in India, Instruments of Export Promotion, Recent Export and Import Polices. SUGGESTED READINGS: Krugman, Paul R & Maurice Obstfield (2003): “International Economics”, 6th Edition, Pearson Education Asia Bhagwati, J: “International Trade”, latest edition, Penguin Series

Meir, G. M.: “International Economics of Development: Theory and Policies”, Harper D. Salvatore: “International Economics”, John Wiley and sons, 7/e (Indian) 2002. Bo Sodersten: “International Economics”, Macmillan, latest edition. Jagadish Bhagavathi: “Writings on International Economics” Oxford University Press. Dana, M.S (2000), International Economics, Routledge Publications, London

Course Number: DBE803, Course Title: BUSINESS AND ECONOMIC FORECASTING Class: PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session: ……………… Total Credits: 5, Periods (55 mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: INTRODUCTION TO FORECASTING Importance and overview of forecasting; Steps in forecasting; Types of data;Data patterns; Graphical representation; Summary statistics; Mathematical transformations; Measures of accuracy of forecasts UNIT 2: EXPONENTIAL SMOOTHING METHODS AND DECOMPOSITION Moving averages; Exponential smoothing methods and forecasting; Decomposition models; Additive and multiplicative decomposition; Forecasting and decomposition UNIT 3: SIMPLE REGRESSION METHODS Regression models; Inference and forecasting with simple regression UNIT 4: MULTIPLE REGRESSION ANALYSIS Time series regression and forecasting UNIT 5: QUALITATIVE AND TECHNOLOGICAL METHODS OF FORECASTING Jury of executive opinion; Surveys and market research based assessments; Delphi approach; Scenario building; Judgmental biases and limitations SUGGESTED READINGS: Makridakis, S., S.C. Wheelwright, and R.J. Hyndman: Forecasting Methods and Applications, latest edition, John Wiley Makridakis, S., and S.C. Wheelwright: Forecasting Methods for Management, latest edition, John Wiley & Sons Wilson, J.H. and B. Keating: Business Forecasting, McGraw Hill, 2009. Hanke, J.E. and D.E. Wichern: Business Forecasting, 8th edition, Pearson Education, 2007. Course Number: DBE804, Course Title: BUSINESS ENVIRONMENT Class: PGDBE/MA(SS), Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits: 5, Periods (55mts. Each)/ week: 5(L-5+T-0+P/S-0), Min.pds./sem.:65 UNIT 1: INTRODUCTION TO BUSINESS ENVIRONMENT Social & Cultural Environment, Corporate Governance; Social Responsibilities of Business; Business & Society, Social Audit; Business Environment; Business System Dynamics

UNIT 2: POLITICAL-LEGAL ENVIRONMENT Political Institutions; The constitution of India; State Regulations; New Competition Policy; Control of Foreign Trade; The Companies Act 2013; Corporate Governance Regulations. UNIT 3: LAWS ON INTELLECTUAL PROPERTY RIGHTS AND CONSUMER RIGHTS IN INDIA Concept and importance of Intellectual Property Rights – Types of Intellectual Properties – Indian Laws to protect; Intellectual Property:- The Patent Act, 1970: Object, important definitions, salient features of the Act, patentable and non-patentable inventions and processes – The Copyright Act, 1957: Object, definitions, features of the Act, works in which copyright subsists, related rights – The Trade Marks Act, 1999: Meaning, object, features of the Act – Consumer Protection Act, 1986: Definitions, object, consumer rights and consumer protection in India UNIT 4: ENVIRONMENTAL LAWS IN INDIA The Environment (Protection) Act, 1986: important aspects of the Act – The Air (Prevention and Control of Pollution) Act, 1981: important aspects of the Act – The Water (Prevention and Control of Pollution) Act, 1974: important aspectsof the Act. UNIT 5: INTERNATIONAL AND TECHNOLOGICAL ENVIRONMENT OF BUSINESS Importance of international environment – Concept of globalization – Reasons for globalization of business –Conditions for globalization – Strategies for entering foreign market: Exporting, Licensing, Franchising, Assembling, Manufacturing, Joint Venture, Counter Trade, Merger and Acquisitions, Strategic Alliance and Third country location–Multinational Corporations: Concept and characteristics, Benefits and dangers to host countries – Origin and functionsof WTO – Differences between GATT and WTO – WTO agreements – Impact of technology on business and society –Technology policy of India

SUGGESTED READINGS: ShaikhSaleem, Business Environment, Pearson publication, 2ndedn, 2010 Fernando A.C., Business Environment, Pearson Education India, 2011 Aswathappa K, Essentials of BusinessEnvironment, Himalaya Publishing House, 4th edition Justin Paul,, Business Environment, Text And Cases, McGraw Hill Companies, 3rdedn, 2010

Course Number: ECM 902, Course Title: DEVELOPMENT THEORY AND EXPERIENCE Class: MA(SS), Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits: 4, Periods (55 mts. Each)/ week: 4(L-4+T-0+P/S-0), Min.pds./sem.:48 UNIT 1: DEMOGRAPHY AND DEVELOPMENT Demographic concepts; birth and death rates, age structure, fertility and mortality; demographic transitions during the process of development; gender bias in preferences and outcomes and evidence on unequal treatment within households; connections between income, mortality, fertility choices and human capital accumulation; migration. UNIT 2: LAND, LABOUR AND CREDIT MARKETS The distribution of land ownership, Land reform and its effects on productivity; contractual relationships between tenants and landlords; Land acquisition, nutrition and labour productivity, Informational problems and credit contracts, Microfinance, Inter-linkages between rural factor markets. UNIT 3: ENVIRONMENT AND SUSTAINABLE DEVELOPMENT Defining sustainability for renewable resources; A brief history of environmental change; Common-pool resources; Environmental externalities and state regulation of the environment; Economic activity and climate change. UNIT 4: GLOBALIZATION Globalization in historical perspective; The economics and politics of multilateral agreements; Trade, production patterns and world inequality, Financial instability in a globalized world. UNIT5: DEVELOPMENT PLANNING Plan Model; Export Led Growth Strategy – Import Substitution Model; Global Integration – Development Experiences of East Asian Countries – Taiwan –South Korea – Malaysia, Growth experiences of China and India. SUGGESTED READINGS Debraj Ray, Development Economics, Oxford University Press, 2009. ParthaDasgupta, Economics: A Very Short Introduction, Oxford University Press, 2007. Abhijit Banerjee, Roland Benabou and DilipMookerjee, Understanding Poverty, Oxford University Press, 2006. Thomas Schelling, Micromotives and Macrobehavior, latest edition, W. Norton Albert O. Hirschman, Exit, Voice and Loyalty: Responses to Decline in Firms, Organizations and States, Harvard University Press. RaghuramRajan, Fault Lines: How Hidden Fractures Still Threaten the World Economy, Princeton University Press, 2010. ElinorOstrom, Governing the Commons: The Evolution of Institutions for Collective Action, Cambridge University Press, 1990. DaniRodrik, The Globalization Paradox: Why Global Markets, States and Democracy Can’t Coexist, Oxford University Press, 2011. Michael D. Bordo, Alan M. Taylor and Jeffrey G. Williamson (ed.), Globalization in Historical Perspective, University of Chicago Press, 2003. Timothy.M.Shaw: “Economic Restructuring in East Asia India”, Macmillan, India Ltd.

Course Number: ECM 903, Course Title: ECONOMETRIC THEORY Class: MA(SS), Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits: 4, Periods (55 mts. Each)/ week: 4(L-4+T-0+P/S-0), Min.pds./sem.:48 UNIT 1: REGRESSION ANALYSIS The Matrix Approach to Linear Regression Model: The k- variable regression model, Assumptions of the Classical Linear Regression Model, OLS estimation, Variance-Covariance Matrix, Coefficient of

Determination R2; Review of Functional forms and Qualitative explanatory variable regression models;

Regression Diagnostics-Detection of and remedial measures for Multicollinearity, Autocorrelation and Heteroscedasticity; Model Selection and Diagnostic Testing-Tests of Specification errors: Detecting the presence of unnecessary variables, omitted variables and incorrect functional form (Ramsey RESET and Lagrange Multiplier Test for Adding Variables), Errors of measurement: Consequences and remedial

measures, Model Selection Criteria: R2

and Adjusted R2criteria, Akaike’s Information Criterion and

Schwarz’s Information Criterion, Additional topics in modeling (Outliers, Leverage, Influence; Recursive least Squares; Chow’s Prediction Failure Test; Missing Data), Non-normal errors and stochastic regressors UNIT 2: DYNAMIC ECONOMETRIC MODELS Distributed Lag Models: Nature of lagged phenomena, Estimation using Koyck transformation (The Adaptive Expectations and Partial Adjustment Models); Estimation of Autoregressive Models UNIT 3: INSTRUMENTAL VARIABLE ESTIMATION Omitted variables in a simple regression model; Measurement errors UNIT 4: PANEL DATA MODELS The Pooled OLS Regression Model, The Fixed Effect Least Squares Dummy Variable Model, The Fixed Effect Within Group Estimator, The Random Effects Model UNIT 5: STAGES IN EMPIRICAL ECONOMETRIC RESEARCH Carrying out an empirical project; Introduction to econometric software SUGGGESTED READINGS: Gujarati, D., Porter, D.C., and S. Gunasekar (2012), ‘Basic Econometrics’, 5th Edition, McGraw Hill, Indian edition. Gujarati, D. (2011), Econometrics by Example, Palgrave Macmillan. Greene, W. (2012), ‘Econometric Analysis’, 7th edition, Prentice Hall Maddala, G. and K. Lahiri (2010),‘Introduction to Econometrics’, 4th ed., John Wiley & Sons. Wooldridge, J.M. (2012), ‘Introductory Econometrics: A Modern Approach’, 5th ed., Cengage Learning. Asteriou, D. and S. Hall (2009), Applied Econometrics, 2nd Edition, Palgrave Macmillan, 2011.

Course Number: ECM 904, Course Title: LAW AND ECONOMICS Class: MA(SS), Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits: 4, Periods (55 mts. Each)/ week: 4(L-4+T-0+P/S-0), Min.pds./sem.:48 UNIT 1: LAW AND ECONOMICS Introduction to Law and Economics; Efficiency criteria in Welfare Economics; Coase theorem; Prisoners' Dilemma; Attitude towards risk; Efficient risk allocation. UNIT 2: CONTRACT LAW Need for a contract; Legal contract; Role of Contracts for functioning of markets; Efficient contracts; Complete and Incomplete Contracts; Reliance; Damages measures and their efficiency properties; Contracts as instrument of risk-allocation and information revelation; Contracts and Courts.

UNIT3: PROPERTY LAW Property Rights and their role in resource allocation; Transaction costs and Coase theorem; Legal remedies for breach of property rights; Intellectual Property Rights; Eminent Domain and Compulsory acquisition of land and other private property

UNIT 4: TORT LAW/LIABILITY RULES Tort law; liability rules versus property rights; accident law; product liability; efficiency properties of liability rules; efficiency-compensation trade- off; Litigation UNIT 5: CRIMINAL LAW AND LITIGATION Rational crimes; Crime and Punishment; Severity versus Certainty of punishment; Litigation; Litigation over compensation under eminent domain SUGGESTED READINGS: Robert Cooter and Thomas Ulen, Law and Economics, seventh edition Miceli, Thomas J. The Economic Approach to Law, Second Edition, Stanford University Press Course Number: ECM 905, Course Title: ENVIRONMENTAL ECONOMICS Class: MA(SS), Status of Course: MAJOR COURSE, Approved since session: ………….. Total Credits: 4, Periods (55 mts. Each)/ week: 4(L-4+T-0+P/S-0), Min.pds./sem.:48 UNIT 1: THE THEORY OF EXTERNALITIES Review of microeconomics and welfare economics; Pareto optimality and market failure in the presence of externalities; property rights and the Coase theorem. UNIT 2: THE DESIGN AND IMPLEMENTATION OF ENVIRONMENTAL POLICY Overview; Pigouvian taxes and effluent Fees; tradable permits; choice between taxes and permits; implementation of environmental policy UNIT 3: INTERNATIONAL ENVIRONMENTAL PROBLEMS Transboundary environmental problems; economics of climate change; trade and environment UNIT 4: MEASURING THE BENEFITS OF ENVIRONMENTAL IMPROVEMENTS Valuation of non-market environmental goods and service; measurement methods and applications; environmental risk assessment UNIT 5: SUSTAINABLE DEVELOPMENT Concepts; measurement; green accounting; overview of environmental problems in India Suggested Readings

Charles Kolstad. Intermediate Environmental Economics, Oxford University Press, 2nd edition (2010). Robert N. Stavins (ed.). Economics of the Environment: Selected Readings, W.W. Norton, 5th edition (2005). Roger Perman, Yue Ma, James McGilvray and Michael Common. Natural Resource and Environmental Economics, Pearson Education/Addison Wesley, 3rd edition (2003). Robert Solow (1992). “An Almost Practical Step toward Sustainability,” Resources for the Future 40th anniversary lecture. Kenneth Arrow et al. (2004). “Are We Consuming Too Much?” Journal of Economic Perspectives, 18(3): 147-172. ParthaDasgupta (2007). “Measuring Sustainable Development: Theory and Application,” Asian Development Review 24(1):1-10. ParthaDasgupta(2013). “The Nature of Economic Development and the Economic Development of Nature,”Economic and Political Weekly, December 21, 2013.

Course Number: ECM 955, Course Title: ECONOMIC ANALYSIS & POLICY Class: M.Phil, Status of Course: MAJOR COURSE, Approved since session: 2009-10 Total Credits: 4, Periods (55 mts. Each)/ week: 4(L-4+T-0+P/S-0), Min.pds./sem.:48 UNIT 1: CONSUMER AND PRODUCERS THEORY Consumer and Producer Theory -Preference Relations and their properties, Comparative Utility maximisation, Comparative Statics, Consumer Surplus, Profit maximisation and Cost minimization. UNIT 2: MICROECONOMIC FOUNDATIONS TO MACROECONOMICS Consumption: Keynesian consumption function; Fisher’s theory of optimal intertemporal choice; life-cycle and permanent income hypotheses; rational expectations and random-walk of consumption expenditure; Investment: determinants of business fixed investment; residential investment and inventory investment; Demand for money. UNIT 3: OPEN ECONOMY MACROECONOMICS Static Model of the Open Economy-Multiplier, Repercussion effects, the dependent economy model, Purchasing Power Parity, Monetary approach to balance of payments, and exchange rate determination. UNIT4: ECONOMIC GROWTH Solow model with technical progress, Ramsey-Cass-Koopmans with phase diagrams, Ricardian equivalence, some reasons for non-equivalence. Unit 5: INDIA’S ECONOMY Contemporary Issues of Economic Development of India- Population, Poverty, Unemployment, Infrastructure and Natural Resources (Mineral, Forest, Water), Budgetary Policy- fiscal Policy, Concept of Budgetary Deficit SUGGESTED READINGS: Dornbusch, R., Fischer S. and R. Startz (2004): “Macroeconomics”, 6th and 11th, McGraw Hill. David Romer: “Advanced Macroeconomics”, 4th edition, McGraw Hill, 2011. Hal R Varian [1999]: “Intermediate Microeconomics: A Modern Approach”, 5th Edition, [or 7th Ed. (2006)]

W.W Norton & Company/ East- West Press Pindyck, Rubinfield and Mehta: “Microeconomics” Pearson Education 2005 Michael.P.Todaro and Stephen C. Smith: “Economic Development” - Pearson Education Asia, 2003. Krugman, P.R., M. Obstfeld, and M. Melitz (2011), International Economics, 9thed, Addison-Wesley Chiang, A.C. (1999), Elements of Dynamic Optimization, Waveland Pr Inc. Hoy, Michael et al., Mathematics for Economics, The MIT Press, 2nd edition, 2001

Department of Economics - Dayalbagh Educational Institute

Documents