-
1
DEPARTMENT OF ECONOMICS
Faculty of Arts The Maharaja Sayajirao University of Baroda
Master of Arts Programme of Studies
ECONOMICS
4-Semester Course
3 Credit Course per paper per semester
Maximum 45 hours per paper
Course Titles and Detailed Syllabi
[w.e.f. 2013-2014]
-
2
Titles of Courses
Semester Course No. Course Title Page No. Semester-01
(06 + 01) CORE - 01 Microeconomic Analysis – I 03 CORE - 02
Macroeconomic Analysis – I 05 CORE - 03 Mathematical Methods in
Economics 07 CORE - 04 Environmental and Natural Resource Economics
09 CORE - 05 (a) Agricultural Economics
OR (b) Financial Institutions and Markets
11
13 INTD ELCTV - 01 Structure of Indian Economy 15 PROJECT - 01
Project Work
Semester-02 (06 + 01)
CORE - 06 Microeconomic Analysis – II 16 CORE - 07 Macroeconomic
Analysis – II 18 CORE - 08 Statistical Methods for Economic
Analysis 20 CORE - 09 Indian Economic Policy 21 CORE - 10 (a)
Econometrics
OR (b) Economics of Insurance
23
25 INTD ELCTV - 02 Urban Economics 27 PROJECT - 02 Project
Work
Semester-03 (06 + 01)
CORE - 11 Development Economics 29 CORE - 12 Theoretical
Foundations of Public Economics 31 CORE - 13 International Trade 33
CORE - 14 Welfare Economics 35 CORE - 15 (a) Economics of Gender
and Development
OR (b) Industrial Economics
37
39 INTD ELCTV - 03 Gujarat Economy 40 PROJECT - 03 Project
Work
Semester-04 (06 + 01)
CORE – 16 Economics of Growth and Structural Change 41 CORE – 17
Fiscal Federalism – With Reference to India 43 CORE – 18
International Finance and Monetary System 44 CORE – 19 Economics of
Human Resources 46 CORE – 20 (a) Economics of Infrastructure
OR (b) Mathematical Economics
48
49 INTD ELCTV – 04 Rural Economics 51 PROJECT – 04 Project
Work
28 X 3 = 84
-
3
M.A. ECONOMICS : SEMESTER I
Core 01
MICROECONOMIC ANALYSIS – I
[Paper Code : AM1C01EC0N]
Objectives: At the end of this course students will be able to :
Comprehend in adequate details and depth the micro economic models.
Develop insight about the decision making process of micro economic
units. Explain Economic theory in a mathematical frame work. Apply
microeconomic tools to amylase and explain real world economic
phenomena. Develop skill of policy formulation for economic
decision at a micro level.
Course Outline UNIT I : Demand Analysis [11 Hours] Theories of
demand; Cardinal Utility Analysis of Demand, Indifference curves
and their applications; Revealed Preference theory; Marshall &
Hick’s Concept of Consumer Surplus; Concept and measurement of
elasticities of demand, Bandwagon, Snob, and Veblen Effects,
Statistical Demand Curves, Linear Expenditure System. UNIT II :
Theory of Production and Costs [12 Hours] Production function -
short period and long period; Law of variable proportion and
returns to scale; Iso-quant - Least cost combination of inputs;
Returns to factors; Economies of scale; Multi product firm;
Elasticity of substitution; Euler's theorem; Technical progress and
production function; Cobb-Douglas production function. UNIT III :
Price and Output Determination [10 Hours] Review of Market
Structure - Oligopoly - Non-collusive (Cournot, Bertrand,
Edgeworth, Chamberlain, kinked demand curve and Stackleberg's
solution) and collusive (Cartels an mergers, price leadership and
basing point price system) models; Price and output determination
under monopsony and bilateral monopoly; Critical evaluation of
marginal analysis. UNIT IV : Behavioural Theories of Firm [12
Hours] Baumol's sales revenue maximization model; Williamson's
model of managerial discretion; Marris model of managerial
enterprise; Full cost pricing rule; Bain's limit pricing theory;
Behavioural model of the firm; Game theoretic models.
-
4
Modes of Transaction Lecture method is generally used but along
with it as and when required, discussion
method would be used. Activity assignments (that is practical
numerical problems) may be given to the
students and assignment method would help them to learn by
doing. Students may be given training by use of computer. Power
Point presentation may be used for delivering lectures.
References (All Latest Editions wherever applicable) 1. Chauhan
S.P.S. (2009), Microeconomics – An Advanced Treatise (1st
Edition),
PHI Learning Private Limited, New Delhi. 2. Dominick Salvatore
(2003), Microeconomics – Theory and Applications
(4th Edition), Oxford University Press, New Delhi. 3. Jeffrey M.
Perloff (2001), Microeconomics (2nd Edition), Pearson Education
Asia, New Delhi. 4. Koutsoyiannis A. (1979), Modern
Microeconomics, (2nd Edition) Macmillan
Press, London. 5. Kreps David M. (1990), A course in
Microeconomics Theory, Princeton
University Press, Princeton. 6. Layard P.R.G. and A.W. Walters
(1976), Microeconomics Theory, Mcgraw Hill,
New York. 7. Robert S. Pindyck & Daniel L. Rubinfeld (2002),
Microeconomics (5th Edition),
Pearson Education Asia, New Delhi. 8. Sen A. (1999),
Microeconomics Theory and Applications, Oxford University
Press, New Delhi. 9. Stigler G. (1996), Theory of Price, (4th
Edition), Prentice Hall of India, New
Delhi. 10. Varian H. (2000), Microeconomic Analysis, W.W.
Norton, New York.
-
5
M.A. ECONOMICS : SEMESTER I
Core 02
MACROECONOMIC ANALYSIS – I
[Paper Code : AM1C02EC0N]
Objectives: To enable the students think independently about
real world situation and help
them master the basic analytical tools. To provide an integrated
view of macroeconomics and to make close contact with
current macroeconomics events.
Course Outline:
UNIT I : Introduction, Measurement and Framework for Aggregative
Analysis
[11 Hours] The development of macroeconomics – subject matter
and fundamental concepts – Aggregation, Macro economic equilibrium
and Micro foundations – circular flow of Income and expenditure –
Macroeconomic Goals and Instruments - Income concepts – Income
measurements – Nominal and Real Income – Measured and PPP Income –
Income and Human development Index – Income and welfare
UNIT II : Classical Economics and Keynesian Revolution [11
Hours]
Salient features of classical paradigm – Determinates of output
and employment – working of goods, Money and commodity market –
salient features of Keynes’s Paradigm – Critique of classical
system – Role of Aggregate Demand and components of Aggregate
Demand – Consumption function, savings function and Investment
multiplier – Simon Kuznets findings – absolute income, relative
income, Life cycle and Permanent income – Investment – Determinants
of Investment.
UNIT III : Supply and Demand for Money [11 Hours]
A behavioural model of money supply determination, RBI approach
to money supply; High powered money and money multiplier; budget
deficits and money supply; money supply and open economy; control
of money supply. Classical approach to demand for money -- Quantity
theory approach, Fisher's equation, Cambridge quantity theory,
Keynes's liquidity preference approach, transaction, precautionary
and speculative demand for money --- aggregate demand for money;
Equilibrium of demand and supply of money. UNIT IV : Neo-classical
Keynesian Synthesis and New Classical Macroeconomics
[12 Hours] Neo-classical and Keynesian views on interest; The
IS-LM Models; Extension of IS-LM model with government sector;
Relative effectiveness of monetary and fical policies; Extension of
IS-LM models with labour market and flexible prices :
Post-Keynesian approaches to demand for money --- Patinkin and the
Real balace Effect, approaches of Baumol and Tobin; Friedman and
the modern quantity theory; Crisis in Keynesian economics and the
revival of monetarism.
-
6
Modes of Transaction The major part of the course work will be
taught by the lecture method but
wherever necessary, discussion on different practical issues
will also be employed. Some portion of the course work would be
given to students in the form of
assignments. Audio-visual aids in terms of Power Point
presentations of assignments by students
would be encouraged. Teachers will also be encouraged to use
such audio-visual aids in explaining certain concepts.
References (All Latest Editions wherever applicable) 1. Ackley,
G (1978), Macroeconomics : Theory and Policy, Macmillan, New York.
2. Branson, W.A. (1989), Macroeconomic Theory and Policy, (3rd
Edition), Harper
and Row, New York. 3. Burda and Wyplosz (2009), Macroeconomics,
4. Carlin Wendy & Soskice David (2007), Macroeconomics –
Imperfection,
Institutions and Policies – Oxford University Press. 5. D’souza
Errol (2008), Macroeconomics : Dorling Kindersley(India) Pvt. Ltd.
6. Dornbusch R. Fischer S. & Startz R. (2004), Macroeconomics,
Tata McGraw –Hill
ed. 7. G. S. Gupta (2004), Macroeconomics – Theory and
applications, McGraw-Hill. 8. Gordon, R.J. (1998), Macroeconomics,
Addison Wesley. 9. Harris, L. (1985), Monetary Theory, McGraw Hill,
New York. 10. Jha, R. (1991), Contempory Macroeconomic Theory and
Policy, Wiley Eastern
Ltd., New Dehli. 11. Levacic, R. and Rebmann. A (2003),
Macroeconomics – An introduction to
Keynesian – Neoclassical controversies, - MacMillan Press Ltd.
12. M. C. Vaish, Macroeconomics - 13. Mankiw, N.G. (2000),
Macroeconomics, MacMillan 14. Poindexter, J.C. (1981),
Macroeconomics, The Dryden Press. 15. Richard T. Froyen (2009),
Macro Economics – Theories and Policies, Prentice
Hall. 16. Scarfe, B.L. (1977), Cycles, Growth and Inflation,
McGraw Hill, New York. 17. Shapiro, E. (1996), Macroeconomic
Analysis, Galgotia Publications, New Delhi. 18. Surrey, M.J.C.
(Ed.) (1976), Macroeconomic Themes, Oxford University Press,
Oxford.
-
7
M.A. ECONOMICS : SEMESTER I
Core 03
MATHEMATICAL METHODS IN ECONOMICS
[Paper Code : AM1C03EC0N]
Objectives The student will learn the mathematical tools for
modeling economic behaviour. The mathematical economic models are
used for predictive purposes planning and
decision-making. At the end of the course the student will gain
the insight of formulating simple
mathematical models in economics on his/her own.
Course Outline:
UNIT I : Analysis of Equilibrium Economic Models: [10 Hours]
Meaning of Equilibrium-Partial Market Equilibrium-General Market
Equilibrium-Comparative Statics and Concept of Derivative-Partial
Differentiation- Total Differential and Derivatives- Implicit
Functions- Analysis of General Function Models
UNIT II : Optimization and Equilibrium Analysis [10 hours]
Optimum Values and Extreme Values-Higher Order Derivatives-
Total Differential Version of Optimization—Optimization with
Equality Constraints- Lagrange Multiplier Method.
UNIT III : Mathematical Programming & Game Theory [12
hours]
Linear programming and its applications – simplex method,
duality and Shadow prices – Concept of a game; Strategies – simple
and mixed; Prisoner’s Dilemma- Value of a game; Saddle point
solution; Mixed Strategies-Dominant Strategies.
UNIT IV : Dynamic Models in Economics [13 hours]
Derivatives of Exponential and Logarithmic Functions-Optimal
Timing-Rate of Growth - Dynamics and Integration-Economic
Applications of Integrals- Simple Difference & Differential
Equations- Phase Diagrams.
Modes of Transaction: Instruction will be based on the lecture
method with interactive sessions. Assignments and tutorials on
applications and practice problems will be extensively
used. Wherever possible, practical problems will be implemented
on computers.
-
8
References (All Latest Editions wherever applicable) 1. Alpha C.
Chiang and Kevin Wainwright, Fundamental Methods of
Mathematical
Economics, 4th ed. (New York, NY: McGraw-Hill, 2005). 2. Anthony
Martin & Norman Biggs, Mathematics for economics and
finance:
methods and modeling, Cambridge University Press, 2003 reprint.
3. Chiang Alpha, Elements of Dynamic Optimization, Publisher:
McGraw-Hill UK,
1992. 4. Hands D. Wade, Introductory Mathematical Economics,
Oxford University Press,
2003.
5. Mavron Vassilis C. and Timothy N. Phillips, Elements of
Mathematics for Economics and Finance, Springer, 2007
6. Michael Hoy John Livernois, Chris McKenna, and Ray Rees,
Mathematics for Economics, 2nd ed. (Cambridge, MA: MIT, 2001)
7. Michael Klein, Mathematical Methods for Economics, 2nd ed.
(Reading, MA: Addison Wesley, 2001)
8. Osborne, Martin J., An Introduction to Game Theory, Oxford
University Press Inc, USA, 2003.
9. Pemberton Malcolm & Nicholas Rau, Mathematics for
Economists: An Introductory Textbook, 2nd ed. (Manchester, UK:
Manchester University Press, 2006)
10. Romp Graham, Game Theory - Introduction and Applications,
Oxford University Press, 1997.
11. Rosser Mike, Basic Mathematics for Economists, Second
Edition, Routledge. 12. Silberberg Eugene, The Structure of
Economics: A Mathematical Analysis 3rd
ed., (3rd ed. with Wing Suen). McGraw-Hill 13. Turkington
Darrell Mathematical Tools for Economics, Publisher: Blackwell
Publishing, 2006.
-
9
M.A. ECONOMICS : SEMESTER I
Core 04
ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS
[Paper Code : AM1C04EC0N]
Objectives:
To provide an overview of the theoretical principles, policy
instruments, and current practice of using economics in
understanding environmental problems.
To understand the market system, the externalities causing
market failure, and the mechanisms to correct for
externalities.
To understand the basics of cost-benefit analysis and the
problems associated with their measurements.
To apply economic tools for evaluating environmental policies.
To analyze economic incentives that lead to environmental
improvement or
degradation. To understand the legal institutions responsible
for environmental protection.
To analyse and understand effective natural resource management
practices. Course Outline: UNIT I : Fundamentals of Environmental
Economics [11 hours]
Welfare foundations – Pareto Optimality – efficiency in
production and consumption – issues in allocation of environmental
resources : externalities, public goods, missing markets, imperfect
markets, market failure, non-convexities, common property
resources, transaction costs (Coase Theorem), social cost, Property
Rights – uncertainty, irreversibility and asymmetry – laws of
Thermodynamics, material balance principle – Sustainable
Development : concept, measures and indicators – environmental
accounting.
UNIT II : Environmental Valuation [10 Hours] Environment-economy
linkages – Causes and effects of environmental degradation –
Concept of total economic value : Use values; Option values and
non-use values – non-essentiality and weak complementarity –
environmental demand theory – WTP and WTAC – compensated demand –
Measurement of Environmental Values : Valuation methods – Methods
based on observed market behaviour : Hedonic Model – Property
pricing and travel cost methods – hypothetical markets (Stated
Preference) – contingent valuation method. UNIT III : Environmental
Protection: Instruments & Legislation
[10 Hours]
Pollution prevention, control and abatement : Criteria for and
classification of control instruments, cost-effectiveness – Command
and control vs. market-based instruments, their merits and demerits
– macroeconomic policies and environment – environmental policy in
India : Legal institutions, legislations and instruments –
Environmental Impact Assessment – WTO and environment.
-
10
UNIT IV : Economics of Natural Resource Use [14 Hours] Natural
resource categories – economics of Water resource :
characteristics, pricing, need for intervention in water supply –
Mineral economics : theory of optimal extraction of a non-renewable
resource. sustainability issues, resource discovery, backstop
technologies – economics of Fishery – bionomic model of fishery,
effort-yield function, efficient rates of effort, fisheries
management – Forestry economics – optimal rotation period,
portfolio choice – Energy use and impact on health and natural
resources. Modes of Transaction:
The major part of the course work will be taught by the lecture
method but wherever necessary, discussion on different practical
issues will also be employed.
Some portion of the course work would be given to students in
the form of assignments.
Audio-visual aids in terms of PowerPoint presentations of
assignments by students would be encouraged. Teachers will also be
encouraged to use such audio-visual aids in explaining certain
concepts.
Wherever feasible, students may be taken on field trips to
gather data as well as observe the working of the economy.
References (All Latest Editions wherever applicable) 1. Ahuja,
H.L. – Advanced Microeconomic Theory, S. Chand & Co., New Delhi
2. Barry C. Field. (2008) – Natural Resource Economics: An
Introduction (second
edition), Waveland Press. 3. Bhattacharya, R.N. (Ed.) (2001),
Environmental Economics: An Indian
Perspective, Oxford University Press, New Delhi. 4. George K.D.
and Shorey J.(1978) - The Allocation of Resources, London,
George
Allen & Unwin Ltd. 5. Hartwick, J. and N. Oliweler –
Economics of Natural Resource Use, Harper and
Row Publishers, New York 6. Kneese, A. and J. Sweeny (eds.)
(1985) – Handbook of Natural Resource and
Energy Economics, North-Holland. 7. Kolstad, C.D. (2000),
Environmental Economics, Oxford University Press, Oxford. 8. Nick,
Hanley, Shogren and White (1997) – Environmental Economics,
Macmillan. 9. Pearce, D.W. and R.K. Turner (1991), Economics of
Natural Resource Use and
Environment, Johns Hopkins University Press, Baltimore. 10.
Perman, R. et. al. (1999) – Natural Resource and Environmental
Economics,
Longman, Pearson Education Ltd. 11. Tietenberg, Tom (1998) –
Environmental Economics and Policy, California,
Addision Wesley. 12. Tietenberg, Tom (2004) – Environmental and
Natural Resource Economics,
California, Pearson Education Ltd., New Delhi.
-
11
M.A. ECONOMICS : SEMESTER I
Core 05(a)
AGRICULTURAL ECONOMICS
[Paper Code : AM1C05EC0N]
Objectives:
At the end of the course the students will be able to
understand: The application of economic theory to agricultural
production. Labour market in the agriculture sector. The mechanics
for agricultural produce distribution, agricultural prices and
finance. Issues affecting agricultural growth in India.
Course Outline:
UNIT I : Agricultural Production and Productivity [14 Hours]
Nature and scope of agricultural production economics;
Agricultural production – Resource use and efficiency; Cost
analysis and Production function analysis in agriculture; Factor
combination and resource substitution; Size of farm and laws of
returns – Theoretical and empirical findings; Farm budgeting and
cost concepts; Behavior of agricultural prices – Cobweb Model.
UNIT II : Factor Market and Modernization of Agriculture [08
Hours]
Rural labour supply; interlocking of factor markets: Mobility of
labor and segmentation labor markets; marginalization of rural
labor; Nature, extent and trends in rural unemployment;
Agricultural wages in India; Male-female wage differences; Analysis
of the process of modernization of agriculture, Interdependence
between agriculture and industry.
UNIT III : Agriculture Sector Policies: Distribution, Prices and
Finance [11 hours]
Regulated Market and marketable surplus; marketing
infrastructure, crop insurance; Pricing of inputs and role of
subsidies Terms of trade between agricultural and non-agricultural
prices; objectives of agricultural price policy, Food security in
India and public distribution system, agricultural finance : NABARD
and Co-operation.
UNIT IV : Agricultural Growth in India [12 Hours]
Recent trends in agricultural growth in India: Inter-regional
variations in growth of output, Cropping pattern shifts; Role of
Public investment and capital formation in Indian agriculture;
Sustainable agriculture : Bio-technological practices and growth
potential, Globalization & Indian Agriculture, WTO and its
effect on Agriculture sector.
Mode of Transaction : Lecture method and class discussions.
-
12
References (All Latest Editions wherever applicable)
1. Bhaduri, A. (1984), The Economic Structure of Backward
Agriculture, Macmillan, Delhi.
2. Bilgrami, S.A.R. (1996), Agricultural Economics, Himalaya
Publishing House, Delhi.
3. Dantwala, M.L. et. al. (1991): Indian Agricultural
Development Since Independence, Oxford & IBH, New Delhi.
4. Desai Pranav K. (2010) – Agricultural Economics, Biotech
books, New New Delhi.
5. Government of India (1976), Report of the National Commission
on Agriculture, New Delhi.
6. Government of India, Economic Survey, (Annual), New Delhi. 7.
Gulati A. and R. Kelly (1999), Trade Liberalisation and Indian
Agriculture, Oxford
University Press, New Delhi. 8. I. Sundar L. (2009), Principles
of Agricultural Economics, Sarap Book Publisher,
New Delhi. 9. Joshi, P.C. (1975): Land Reforms in India: Trends
and Prospects, Allied
Publishers, Bombay. 10. Kahion, A.S. and Tyagi D.S. (1983):
Agriculture Price Policy in India, Allied
Publishers, New Delhi. 11. Rao, C.H. Hanumantha (1975),
Agricultural Growth, Rural Poverty and
Environmental Degradation in India, Oxford University Press, New
Delhi. 12. Reserve Bank of India, Report on Currency and Finance
(Annual), Mumbai. 13. Ruddar dutt and K.P.M. Sundaram (Latest
Edition), Indian Economy, S. Chand &
Co. 14. Rudra, A. (1982), Indian Agricultural Economics : Myths
and Reality, Allied
Publishers, New Delhi. 15. S. Subba Reddy and others (2004),
Agricultural Economics, Oxford & IBH
Publishing Co. Pvt. Ltd., New Delhi. 16. Saini, G.R. (1979),
Farm Size, Resource Use Efficiency and Income Distribution,
Allied Publishers, New Delhi.
-
13
M.A. ECONOMICS : SEMESTER I
Core 05(b)
FINANCIAL INSTITUTIONS AND MARKETS
[Paper Code : AM1C05EC0N]
Objectives: At the end of this course students will be able to :
Understand the concepts products of Financial Institutions, Banks
and their
characteristics in details Evaluate and determine the Price,
Value of Financial Assets Understand the nature and working of
Financial institutions and markets Apply financial tools in
investment and financial decision making Develop skills of policy
design and development of financial firm markets.
Course Outline:
UNIT I : Nature and Role of Financial System [12 Hours]
Money and Finance -- Money and near-money -- Financial
intermediation and financial intermediaries -- The structure of the
financial system -- Functions of the financial sector ---
Indicators of financial development -- Equilibrium in Financial
Markets -- Financial system and Economic Development
UNIT II : Asset Prices and Valuation [10 Hours]
Prices, risk and yield in financial Markets -- Determinants of
Assets prices and interest rates -- Theories of interest rate
determination --. Criteria to evaluate assets: risk and financial
assets, types of risk, return on assets, Risk -- Return trade off
--- Valuation of Securities. Term structure of Interest rates ---
Risk Return and asset pricing --- Capital Asset Pricing Model
(CAPM) and portfolio model – Arbitrage Pricing Model (APM).
UNIT III : Banking and Financial Institution [10 Hours]
Type of banking and non-bank financial intermediaries --
Profitability and efficiency of banks; Development banks -- role
and functions; Investment banking and merchant banking; Financial
sector reforms in India and Financial Policy. Definition and types
of non-bank financial institutions; Their growth and impact on
India's economic development, Measures taken to control their
operations – Financial innovations – Asset securitization – asset
and Liability Management for financial intermediaries.
UNIT IV : Financial Markets [13 Hours]
Role and structure of money market and capital market -- Call
money market, Treasury bill market, Commercial bill market
including commercial paper and certificate of deposit, Discount
market -- Government securities market -- Markets for derivatives;
futures and options, and other derivatives; types, uses and pricing
of derivatives -- Primary and secondary market for securities;
Mutual funds; Regulation-SEBI; Its impact on the working of capital
market in India; IRDA and its role in Insurance markets -- Cost of
capital -- capital structure -- dividend policy -- Mergers and
acquisitions.
-
14
Modes of Transaction Generally Class lectures along with
discussion method will be used Practicals on financial valuation
will be good for Learning. Students will be given assignments on
important aspect of topics. Wherever possible, students will be
taught financial Software’s.
References (All Latest Editions wherever applicable) 1. Chandra
Prasanna, Financial Management: Theory and Practice, Tata
McGraw
Hill. 2. Kohn Meir (Third Reprint): Financial Institutions and
Markets, Tata McGraw Hill. 3. Pathak Bharati V. (2nd Edition): The
Indian Financial System, Pearson. 4. Reilly and Brown (6th
Edition): Investment Analysis and Portfolio Management,
South Western.
-
15
M.A. ECONOMICS : SEMESTER I
Interdisciplinary Elective 01
STRUCTURE OF INDIAN ECONOMY
[Paper Code : AM1I01EC0N]
Objectives:
At the end of the course the students will be able to:
understand many aspects of the Indian economy particularly economic
trends and sector
composition, phenomena/ issues involved in development of Indian
economy. Understand meaning of different terms and concepts used in
various reports relating to
Indian economy and able to analyze the issues/problems and in a
position to suggest some solutions for the same.
Participate in debate on developments in Indian economy.
Course Outline:
UNIT I : Introduction [12 Hours]
Indian economy on the eve of Independence, India as mixed
economy and its features, India in global economy, National
income-various concepts, trends in national income, growth,
structure, and constraints in growth, growth and economic
development. Poverty and poverty alleviating policy measures.
UNIT II : Agriculture [11 Hours]
Role of agriculture in Indian economy, cropping pattern,
irrigation, green revolution – meaning, achievements/ failures,
national agricultural policy 2000, rural credit- trends and
constraints.
UNIT III : Industry and Infrastructure [11 Hours]
Industry at the time of independence and role of
industrialization, industrial growth pattern Large, medium and
small scale industry, New Industrial policy, SMEs Privatization,
Industrial finance – current trends and issues, Infrastructures in
Indian economy-energy, transport and communication.
UNIT IV : Other Current Issues [11 Hours]
India’s population- size, growth rate, composition by sex, and
age, density and urbanization trends, Occupational structure and
work force, Quality of population- Human Development in
India-(HDI,GDI, HPI)-Social sectors –education and health related
issues.
Mode of Transaction:
Major part of course will be taught by lecture method, class
discussion and experience sharing.
Students will be given course work in the form of assignments
and cases.
References [All Latest Editions wherever applicable]
1. Datt Ruddar and K P M Sundharam, Indian Economy, S. Chand.
latest edition 2. Dhingra I. C., Indian Economy, S. Chand latest
edition 3. Agarwal A N., Indian Economy 4. S. P. Verma.,
Infrastructure in India’s Development-power, Transport and
Communication,
Kanishka Publishers & distributors, New Delhi 5. UNDP, Human
Development Report, latest issue, Palgrave MacMillan
-
16
M.A. ECONOMICS : SEMESTER II
Core 06
MICROECONOMIC ANALYSIS – II
[Paper Code : AM2C06EC0N]
Objectives: At the end of this course students will be able
to:
Comprehend in adequate details and depth the micro economic
models. Develop insight about the decision making process of micro
economic units. Explain Economic theory in a mathematical frame
work. Apply microeconomic tools to amylase and explain real world
economic
phenomena. Develop skill of policy formulation for economic
decision at a micro level.
Course Outline:
UNIT I : Theory of Distribution [10 Hours] Neo-classical
approach - Marginal productivity theory; Product exhaustion
theorem; Elasticity of technical substitution; technical progress
and factor share; Theory of distribution in imperfect product and
factor markets; Determination of rent, wages and profit. UNIT II :
Welfare Economics [12 Hours] Pigovian welfare economics; Pareto
optimal conditions; Value judgments; Social welfare functions;
Compensation principle; Inability to obtain optimum welfare -
Imperfections, market failure, decreasing costs, uncertainty and
non existence and incomplete markets; Theory of second best,
Welfare implications of inter-temporal consumption. UNIT III :
Economics of Uncertainty [13 Hours] Consumer’s and Producer’s
choice under uncertainty - describing risk, reducing risk, Demand
for risky assets -Market with asymmetric information- quality
uncertainty and the market for "Lemons", Market signaling, Moral
hazard, Principal agent problem, Asymmetric information in labour
market; Efficiency wage theory, Investment analysis. UNIT IV :
General Equilibrium Analysis [10 Hours] Partial and general
equilibrium, Walrasian excess demand and input output approaches to
general equilibrium, existence, stability and uniqueness of
equilibrium and general equilibrium, coalitions and monopolies;
Production without consumption - one sector model, homogeneous
functions, income distribution.
-
17
Modes of Transaction:
Lecture method is generally used but along with it as and when
required, discussion method would be used.
Activity assignments (that is practical numerical problems) may
be given to the students and assignment method would help them to
learn by doing.
Students may be given training by use of computer. Power Point
presentation may be used for delivering lectures.
References (All Latest Editions wherever applicable) 1. Chauhan
S.P.S. (2009), Microeconomics – An Advanced Treatise (1st Edition),
PHI
Learning Private Limited, New Delhi. 2. Dominick Salvatore
(2003), Microeconomics – Theory and Applications (4th
Edition), Oxford University Press, New Delhi. 3. Jeffrey M.
Perloff (2001), Microeconomics (2nd Edition), Pearson Education
Asia,
New Delhi. 4. Koutsoyiannis A. (1979), Modern Microeconomics,
(2nd Edition) Macmillan
Press, London. 5. Kreps David M. (1990), A course in
Microeconomics Theory, Princeton University
Press, Princeton. 6. Layard P.R.G. and A.W. Walters (1976),
Microeconomics Theory, Mcgraw Hill,
New York. 7. Robert S. Pindyck & Daniel L. Rubinfeld (2002),
Microeconomics (5th Edition),
Pearson Education Asia, New Delhi. 8. Sen A. (1999),
Microeconomics Theory and Applications, Oxford University
Press,
New Delhi. 9. Stigler G. (1996), Theory of Price, (4th Edition),
Prentice Hall of India, New Delhi. 10. Varian H. (2000),
Microeconomic Analysis, W.W. Norton, New York.
-
18
M.A. ECONOMICS : SEMESTER II
Core 07
MACROECONOMIC ANALYSIS – II
[Paper Code : AM2C07EC0N]
Objectives:
At the end of this course, the student, To enable the students
think independently about real world situation and help
them master the basic analytical tools. To provide an integrated
view of macroeconomics and to make close contact with
current macroeconomics events.
Course Outline:
UNIT I : Unemployment & Inflation: Causes & Consequences
[11 Hours]
Unemployment – definition and concepts – causes &
consequences of unemployment, Inflation – definition and concepts –
causes & consequences of inflation, Aggregate supply function –
Philips curve – Philips curve vis-à-vis Aggregate supply function –
price expectation models – Macro Economic policies.
UNIT II : New Classical and New Keynesian Models [11 Hours]
New classical position – a review of Keynesian position – The
Rational Expectation concept and its implications – New classical
policy conclusions. New Keynesian position – Sticky price (Menu
Cost) Models – Efficiency wage Models – Insider – Outsider models
and Hysteresis. A summary of Macro Economic Models.
UNIT III : Open Economy Macro Economics and Business Cycles [11
Hours]
Important concepts of open Economy – Macro Economic GAPS –
Determinants of Trade Balance and Balance of Payments – Foreign
Exchange rate system and Determinants of foreign Exchange rate –
Monetary and Fiscal Policy in the open economy and the Mundell -
Fleming model - Business cycles – definition and characteristics –
Theories of Schumpeter, Kaldor, Samuelson and Keynes - control of
Business cycles and stabilization policies.
UNIT IV : Economic Growth [12 Hours]
Determinants of Income and growth – Harrod – Domar Model – Solow
Model – Endogenous Growth theory – Economic Reforms, institution,
governance and Economic growth in India- Growth Accounting china
and India. Modes of Transaction:
The major part of the course work will be taught by the lecture
method but wherever necessary, discussion on different practical
issues will also be employed.
Some portion of the course work would be given to students in
the form of assignments.
Audio-visual aids in terms of Power Point presentations of
assignments by students would be encouraged. Teachers will also be
encouraged to use such audio-visual aids in explaining certain
concepts.
-
19
References (All Latest Editions wherever applicable)
1. Ackley, G (1978), Macroeconomics : Theory and Policy,
Macmillan, New York. 2. Branson, W.A. (1989), Macroeconomic Theory
and Policy, (3rd Edition), Harper
and Row, New York. 3. Burda and Wyplosz (2009), Macroeconomics,
4. Carlin Wendy & Soskice David (2007), Macroeconomics –
Imperfection,
Institutions and Policies – Oxford University Press. 5. D’souza
Errol (2008), Macroeconomics : Dorling Kindersley(India) Pvt. Ltd.
6. Dornbusch R. Fischer S. & Startz R. (2004), Macroeconomics,
Tata McGraw –Hill
ed. 7. G. S. Gupta (2004), Macroeconomics – Theory and
applications, McGraw-Hill. 8. Gordon, R.J. (1998), Macroeconomics,
Addison Wesley. 9. Harris, L. (1985), Monetary Theory, McGraw Hill,
New York. 10. Jha, R. (1991), Contempory Macroeconomic Theory and
Policy, Wiley Eastern
Ltd., New Dehli. 11. Levacic, R. and Rebmann. A (2003),
Macroeconomics – An introduction to
Keynesian – Neoclassical controversies, - MacMillan Press Ltd.
12. M. C. Vaish, Macroeconomics - 13. Mankiw, N.G. (2000),
Macroeconomics, MacMillan 14. Poindexter, J.C. (1981),
Macroeconomics, The Dryden Press. 15. Richard T. Froyen (2009),
Macro Economics – Theories and Policies, Prentice
Hall. 16. Scarfe, B.L. (1977), Cycles, Growth and Inflation,
McGraw Hill, New York. 17. Shapiro, E. (1996), Macroeconomic
Analysis, Galgotia Publications, New Delhi. 18. Surrey, M.J.C.
(Ed.) (1976), Macroeconomic Themes, Oxford University Press,
Oxford.
-
20
M.A. ECONOMICS : SEMESTER II
Core 08
STATISTICAL METHODS FOR ECONOMIC ANALYSIS
[Paper Code : AM2C08EC0N]
Objectives:
At the end of the course The student will grasp the basic
methods of statistical inference economic analysis. The approach to
hypothesis testing and estimation will be understood.
Course Outline: UNIT I : Elements of Probability Theory [08
Hours]
Probability: Laws of addition and multiplication: Conditional
probability and concept of interdependence; Elementary concept of
random variable; Mathematical Expectations, Properties (without
derivations) of Binomial, Poisson and Normal distributions, Bayse
Theorem. UNIT II : Sampling and Sampling Distributions [12
Hours]
Basic concept of sampling – random and non-random sampling
design process-Random sampling methods-sampling and non-sampling
errors-sampling distribution; Central Limit Theorem-sampling
distribution of sample proportion. UNIT III : Estimation and
Hypothesis Testing [15 Hours]
Concept of an estimator and its sampling distribution; Desirable
properties of an estimator; Formulation of Statistical Hypothesis –
Null and alternative; Goodness of fit; confidence intervals and
level of significance; Hypothesis testing – based on z, t,
Chi-Square and F tests; Type 1 and Type 2 errors.
UNIT IV : Correlation and Regression Analysis [10 Hours]
Meaning assumptions and limitations of simple correlation and
regression analysis; Concept of the least squares and the line of
regression; Standard error of estimate-Goodness of fit-Prediction
of individual values, Multivariate Regression Analysis – Estimation
& Testing.
Modes of Transaction:
Instruction will be based on the lecture method with interactive
sessions. Assignments and tutorials on applications and practice
problems will be extensively
used. Wherever possible, practical problems will be implemented
on computers.
References (All Latest Editions wherever applicable)
1. Anderson David R., Dennis J. Sweeney, Thomas A. Williams,
(2004), Statistics for Business and Economics South-Western College
Pub; 9th edition.
2. Gujarati Damodar, Essentials of Econometrics McGraw-Hill
International edition. 3. Levine D & N.Bajpai (2010),
Quantitative Analysis, Pearson.
-
21
M.A. ECONOMICS : SEMESTER II
Core 09
INDIAN ECONOMIC POLICY
[Paper Code : AM2C09EC0N]
Objectives:
This course will enable the students with an understanding of
The Planning structure and it’s implementation process Policy
reforms in financial sector, trade, environment and infrastructure
Policy and performance issues in agriculture and industry
sectors.
Course Outline: UNIT I : Economic Planning and Policy [10
Hours]
Objectives and Strategy of Planning; Failure and achievements of
Planning; Planning and Policy interface; Decentralized Planning;
Fiscal federalism in India;73rd and 74th amendment to the
constitution; role of civil society as third sector in planning,
Policies for Inclusive Growth. UNIT II : Economic Reforms and
Policy Impacts [14 Hours]
Financial sector reforms; Economic reforms, Trade Policy reforms
and issues, Exchange rate policy; Foreign capital and MNCs in
India; WTO and its impact on the economy; Monetary and Fiscal
Policy reforms. UNIT III : Agriculture and Industry [14 Hours]
India’s Agricultural Policy since Independence – agricultural
pricing and price behavior; Terms of trade between agriculture and
industry; Agricultural finance; Issues in food security and public
distribution system – policies for sustainable agriculture. Growth
and pattern of industrialization; Industrial policy; Public sector
enterprises and their performance; Privatization and disinvestment
debate. Small and Medium Enterprises. UNIT IV : Planning and Social
Infrastructure [07 Hours]
Policies reforms related to Energy, Telecom, Transport, etc.
Social Infrastructure policies and labour market reforms,
Environmental policy, and knowledge economy. Mode of Transaction:
Lecture method and class discussion. References (All Latest
Editions wherever applicable) 1. Ahluwalia, I. J. and I.M.D. Little
(Eds.) (1999), India’s Economic Reforms and
Development (Essay in honor of Manmohan Singh), Oxford
University Press, New Delhi.
2. Alagh Y.K. [ed.] State of Indian Farmer: A Millennium Study,
Various volumes. Academic Foundation
-
22
3. Bardhan, P.K. (9th Edition) (1999), The Political Economy of
Development in India, Oxford University Press, New Delhi.
4. Brahmananda, P R and V R Panchmukhi (Eds) (2001), Development
Experience in the Indian Economy – Inter State Perspective,
Bookwell, Delhi.
5. Carl Dahlman and Anuja Utz: (2005), India and the Knowledge
Economy: Leveraging, Strengths and opportunities, World Bank
Publication.
6. Chakravarty, S. (1987), Development Planning: The Indian
Experience, Oxford University Press, New Delhi.
7. Dantwala, M.L. (1996), Dilemmas of Growth: The Indian
Experience, Sage Publication, New Delhi.
8. Datta, R (Ed.) (2001), Second Generation Economic Reform in
India, Deep and Deep Publication, New Delhi.
9. GOI Economic Survey latest issue 10. Government of India,
Economic Survey (Annual), Ministry of Finance, New Delhi. 11. India
Infrastructure Report Oxford University Press latest issue. 12.
Ishwar Dhingra: Indian Economy. Latest edition, Sultan Chanel
Publication. 13. Jain, A K (1986), Economic Planning in India,
Ashish Publishing House, New
Delhi. 14. Jalan, B (1996), India’s Economic Policy - Preparing
for Twenty First Century,
Penguin Books, New Delhi. 15. Jalan, B. (1992), The Indian
Economy- Problems and Prospects, Penguin Books,
New Delhi. 16. Joshi, V. and I.M.D. Little (1999), India:
Macroeconomic and Political Economy,
1964-1991, Oxford University Press, New Delhi. 17. Kapila
Uma:[ed.] Indian Economy since Independence : Academic
Foundation
[latest edition] 18. Parikh, K.S. (1999), India Development
Report – 1999-2000, Oxford University
Press, New Delhi. 19. Rao V.M. (1996) Agricultural Development
with a Human face, EPW 31(26): June
29. 20. Reserve Bank Of India, Report on Currency and Finance,
(Annual). 21. Sandesara, J.C. (1992), Industrial Policy and
Planning 1947-1991: Tendencies
Interrelations and Issues, Sage Publication, New Delhi. 22. Sen,
R.K.and B. Chatterjee (2001), Indian Economy: Agenda for 21st
Century
(Essays in honour of Prof P.R. Brahmanda), Deep and Deep
Publication ,New Delhi.
23. Tapas Majmudar (ed)( 1993) Nature, Man and The Indian
Economy Ed., Oxford. 24. Vidyanathan A. (1996) Agricultural
Development: Imperatives of Institutional
Reforms, EPW 31(35/37) September 1996.
-
23
M.A. ECONOMICS : SEMESTER II
Core 10(a)
ECONOMETRICS
[Paper Code : AM2C10EC0N]
Objectives:
At the end of this course students will be able to: Comprehend
in adequate detail various econometric techniques. Develop
understanding about the economic models and their uses. Understand
the relation between economic theory and econometric models.
Develop skill to formulate an econometric model and test for the
results.
Course Outline:
UNIT I : Econometrics – An Introduction [12 Hours]
Nature and scope of econometrics; Simple and general linear
regression model – Assumptions, Estimation using OLS method;
properties of estimators; Gauss-Markov theorem; Analysis of
variance approach and its application in regression analysis;
Estimation of non-linear equations. Multivariate regression
analysis –matrix approach
UNIT II : Violation of Classical Model Assumptions [11
Hours]
Single equation model: Problems of Heteroscedasticity;
Multicollinearity – Method of Principal Component Analysis;
Auto-correlation; Problems of specification error; Errors of
measurement – Applications. Multiequation Model: Simultaneous
equation bias and inconstancy of OLS estimators – Alternative
methods.
UNIT III : Qualitative Independent and Dependent Variables [11
Hours]
Types of Qualitative variables; Dummy variable technique –
Testing structural stability of regression models comparing two
regressions, interaction effects, seasonal analysis, piecewise
linear regression, Regression with dummy dependent variables; The
LPM, Logit, Probit, and Tobit models – Applications. UNIT IV :
Dynamic Econometric Models and Time Series [11 Hours]
Autoregressive and distributed lag models – Koyak model, Partial
adjustment model, adaptive expectations; Instrumental variables;
Problem of auto-correlation – Application; Almon approach to
distributed-lag models; Error Correction Mechanism, Causality
tests. Time series analysis: Stationarity, unit roots,
co-integration-spurious regression, Dickey-Fuller test, Random walk
model, Forecasting in economics.
-
24
Modes of Transaction:
Lecture method is generally used but along with it as and when
required, discussion method would be used.
Activity assignments with numerical problems be given to the
students and assignment method would help them to learn by
doing.
Students may be introduced to various Statistical and
Econometric Software. Power Point presentation may be used for
delivering lectures.
References (All Latest Editions wherever applicable) 1. Baltagi,
B.H. (1998), Econometrics, Springer, New York. 2. Dongherty, C.
(1992), Introduction to Econometrics, Oxford University Press,
New York. 3. Goldberger, A.S. (1998), Indtroductory
Econometrics, Harvard University Press,
Cambridge, Mass. 4. Gujarati, D.N., Basic Econometrics, (2nd
Edition), McGraw Hill, New Delhi. 5. Kennedy, P. (1998), A guide to
Econometrics (4th Edition), MIT Press, New York. 6. Kmenta, J.
(1997), Elements of Econometrics (Reprint Edition), University
of
Michigan Press, New York. 7. Koutsoyiannis, A. (1977), Theory of
Econometrics (2nd ed.), The Macmillan Press
Ltd. London. 8. Krishna, K.L. (Ed.) (1997), Econometric
Applications in India, Oxford University
Press, New Delhi. 9. Maddala, G.S. (Ed.) (1993), Econometric
Methods and Application (2 Vols),
Aldershot U.K. 10. Pindyck, R.S.and Rubinfeld, D. L. (1998),
Econometric Models and Economic
Forecast, McGraw Hill, New York. 11. Ramu Ramanathan (2002),
Introduction to Econometrics with Applications
(5thed), Cengage Learning India Pvt Ltd, New Delhi. 12. Theil,
H. (1981), Introduction to Econometrics, Prentice Hall of India,
Delhi.
-
25
M.A. ECONOMICS : SEMESTER II
Core 10(b)
ECONOMICS OF INSURANCE
[Paper Code : AM2C10EC0N]
Objectives:
At the end of course student will be able to:
understand the meaning of various risks, economic security and
insurance. Student will be able to analyze risk and identify
relevant different insurance products as a solution to risk.
familiarize the students with various type of insurance –life
and non-life- and insurance policies.
understand IRDA’s regulation and developmental activity and its
rationale. analyze and evaluate various aspect of working of
insurance industry as a whole such as
reforms in insurance industry, life and non-life segments,
underwriting/rating process, distribution channel, various
insurance products/pension products and regulatory environment.
Course Outline:
UNIT I : Concepts of Risk and Insurance Perspective [12
Hours]
Concept of Insurance and economic security, Fundamental of
uncertainty and risk- pure risk and speculative risk, exposure to
losses, role of insurance. Definition of risk- economic-legal
perspective- insurable event, risk pooling –mathematical basis of
insurance-law of large numbers and risk transfer- life and non-life
insurance classification of life, health, general insurance
policies. Expected utility and decision making under uncertainty,
expected utility and demand for insurance, concepts of risk
management and Elements of risk management- risk assessment, risk
control –risk financing. UNIT II : Insurance Contract and Various
Terms [10 Hours]
Feature of insurance contract in life and non-life insurance,
indemnity, insurable interest. contribution and subrogation,
Representation, utmost good faith, material facts, Adverse
selection and moral hazard, physical hazard, moral hazard, standard
risk. UNIT III : Life Insurance and Health Insurance [10 Hours]
Fundamentals of life and health insurance, mortality tables and
plans of life insurance, underwriting and rate making of insurance
risk, basics of premium calculation, classification of policies-
individual and group insurance for life and health risk. Health
Insurance Valuation and distribution of surplus. UNIT IV : General
and Miscellaneous Insurance [13 Hours]
Definition of general insurance, types of general insurance -
fire insurance, motor insurance, marine insurance and other
miscellaneous insurance. Selection of risk, rate making and
calculation of premium, various distribution channel of insurance,
technology development and general insurance. Pension plans-basics
principles of retirement planning and pension plans, pension plans
in India. Regulation of insurance in India- IRDA act covering
regulatory provisions for brokers/agents/ insurance firms. other
Acts applicable to insurance contract.
-
26
Mode of Transaction:
The major part of the course will be delivered through class
lecture method and lab work.
However some topics will be covered by student assignments/
practical exercises on computers.
Students will also have exposures to workshops / experts’
lectures on select issues of insurance.
Students may also undertake an industry visit and collect
primary data on working of insurance activity.
References (All Latest Editions wherever applicable) 1. Dorfman
Mark S. (2009) : Introduction to Risk Management and Insurance,
9th
edition, Prentice Hall of India, New Delhi. 2. Institute of
Certified Risk and Insurance Manager (ICRIM) (2002) :
Reinsurance
Text Book, Hyderabad. 3. Institute of Certified Risk and
Insurance Manager (ICRIM) (2002) : Risk and
Insurance Text Book, Hyderabad. 4. Institute of Certified Risk
and Insurance Manager (ICRIM) (2002): Actuarial
Principles and Practice Text Book, Hyderabad. 5. Narayanan H
(2008) : Indian Insurance - A Profile, Jaico Books Mumbai. 6. P K
Gupta (2005) : Fundamentals of Insurance, Himalaya Publishing
House. 7. Rejda George E : Principles of Risk Management and
Insurance, Pearson
Education. 8. Vaughan E. J and Therese Vaughan, Essentials of
Risk Management and Insurance,
John Wiley and Sons. 9. Vaughan E. J and Therese Vaughan,
Fundamental of Risk Management and
Insurance, John Wiley and Sons. Web references:
www.irda.org www.nai.org www.insuranceinstituteofindia.com
www.lifeinsurancecouncil.org www.gicouncil.in www.swissre.com
www.munichre.com
http://www.irda.org/http://www.nai.org/http://www.insuranceinstituteofindia.com/http://www.lifeinsurancecouncil.org/http://www.gicouncil.in/http://www.swissre.com/http://www.munichre.com/
-
27
M.A. ECONOMICS : SEMESTER II
Interdisciplinary Elective 02
URBAN ECONOMICS
[Paper Code : AM2I02EC0N]
Objectives:
At the end of course the student will be able to : Get
understanding of many economic problems / phenomena/ issues
involved in
urban areas and cities. Understand meaning of different terms
and concepts of urban economics and able
to analyze the urban problems and in apposition to suggest some
solutions for the same.
Participate in design and monitoring the developments in the
urbanization and policy component of urban transport and
congestion, municipal finances, housing and slums pollutions and
quality of urban life etc.
Course Outline:
UNIT I : Introduction and Urbanization in India [10 Hours]
Nature of Urban Areas, and why Urban Areas - Urban Policy
Analysis - Definition of Urban Area, Growth of Urbanization and its
Sources, Long term Trends in Urbanization - Classification of
Cities by Size, Migration of Capital and Labour in Urban Areas,
Policy Issues. UNIT II : Urban Land Use and Housing [10 Hours]
Urban Population Density, Spatial Pattern in Urban Land Use,
Land Use Controls - Housing Policy in Urban Areas - Demand and
Supply Gap and Slums - Public Policy to improve them - Slums and
Urban Poverty, Urban Pollution - Clean Air and Property Values,
Urban Infrastructure and Quality of Life in Urban Localities. UNIT
III : Urban Finances [10 Hours] Revenues and Finances of
Municipalities, Urban Infrastructures - Public-Private Partnership
Model (PPP) in Urban Transport, Sanitation, Health, Education, Road
and Bridges etc. Jawaharlal Nehru National Urban Renewal Mission
(JNNURM) and its Objectives and Working, Urban Reforms. UNIT IV :
Urban Transportation [15 Hours]
Multiple Modes of Urban Transport - their Competitive and
Complementary Role, National Urban Transport Policy 2006, Public
(Subsidized Mass) Transport vs Private Transport with externalities
such as lock in Capital in Transport Equipment, Parking Provisions,
Pollution, Exposure to Road Accident, Congestion. Cost and Pricing
of Transport Services, Metro Railways and Rapid Bus Transport in
Metropolitan Cities, Urban Transport Sector Reform.
-
28
Modes of Transaction:
Major part of course will be taught by lecture method, class
discussion and experience sharing.
Students will be given course work in the form of assignments
and cases. References (All Latest Editions wherever applicable) 1.
Robert L Bish and Hugh O. Nourse (Latest Edition) - Urban Economics
and Policy
Analysis, MacGraw Hill. 2. Govt of India - Min. of Urban
Development and Poverty Alleviation, ANNUAL
REPORT 2010-11. 3. O’Sullivan Arthur (2003) - Urban Economics,
MacGraw Hill. 4. Prasad B K Sarup (2003) - Urban Development, New
Delhi. 5. Jain A. K. - Urban Housing & Slums, Read Worthy, New
Delhi. 6. Harvey Jack Ernie J (2005) - Urban Land Economics,
Palgrave. 7. Chaudhuri Kameshwar (2000) - Globalisation, Governance
Reforms and
Development in India, Sage.
-
29
M.A. ECONOMICS : SEMESTER III
Core 11
DEVELOPMENT ECONOMICS
[Paper Code : AM3C11EC0N]
Objectives:
At the end of this course students will be able to: Understand
the interdependence between social and economic factors for
development. Comprehend in adequate detail various processes of
development. Develop understanding about the economic development
theories and their
applications. Understand the relation between economic theory
and economic development.
Course Outline:
UNIT I : Social and Institutional Aspects of Development [12
hours]
Economic Growth and Development; Development and
underdevelopment – perpetuation of underdevelopment; Economic and
non economic factors affecting economic growth; Measuring
development and development gap – per capita income, Human
development index and other indices of development and quality of
life. Human resource development; Population problem and growth
patterns and changes – Demographic dividend; income inequality -
Poverty- undernourishment; poverty and environment linkages. Role
of capital, labor and technology in economic development. UNIT II :
Historical Aspects of Development [11 hours]
Historical approach to economic development – Kuznets -
Differing initial conditions. Linear stage theories-Rostow;
Neoclassical dependence theories; Dualistic theory – Theory of
unlimited supply of labour – Lewis- Fei Rannis; Urban – Rural
migration; Urban informal sector. Economic development and
institutions – markets and market failure, state and state
failure.
UNIT III : Economic Development Theories [11 hours]
Classical theory of development – contributions of Adam Smith,
Ricardo and Malthus; Karl Marx and development of capitalist
economy; Schumpeter and capitalist development; Structural analysis
of development; Imperfect market paradigm.
UNIT IV : Approaches to Development [11 hours]
Development Strategy; Partial theories of growth and development
– Vicious circle of poverty, Big push, Balanced growth, Unbalanced
growth, Critical minimum effort thesis, Low income equilibrium
trap; Typology of Dualism – Institutional, Technical, Geographical,
Ecological and Social; Savings and capital formation
-
30
Modes of Transaction:
Lecture method is generally used but along with it as and when
required, discussion method would be used.
Activity assignments be given to the students and assignment
method would help them to learn by doing.
Power Point presentation may be used for delivering lectures.
References [All Latest Editions wherever applicable]
1. Adelman I (1961), Theories of Economic Growth and
Development, Stanford University Press, Stanford.
2. Barrow R. & Sala-Xavier Martin (2007): Economic Growth,
Prentice Hall of India. 3. Behrman, S and T.N. Srinivasan (1995),
Handbook of Development Economic Vol.
3, Elsevier, Amsterdam. 4. Brown M. (1966), On the Theory and
Measurement of Technical Changes,
Cambridge University. 5. Chenery H and T N Srinivasan (Eds)
(1989), Handbook of Development
Economics, Vols. 1 & 2, Elsevier, Amsterdam. 6. Chenery H B
et. (Eds) 91974), Redistribution of Growth, Oxford University
Press,
Oxford. 7. Dasgupta P 1993), An Enquiry in to Well-being and
Destitution, Clarendon Press,
Oxford. 8. Ghatak S (1986), An Introduction to Development
Economics, Allen and Unwin,
London. 9. Gillis M., D, H. Perkins, M. Romer and D.R. Sndograss
(1992), Economics of
Development (3rd Edition), W. W. Norton, New York. 10. Gimmell
N. (1987), Survey in Economic Development, Blackwell, Oxford. 11.
Higgins B. (1959), Economic Development, W. W. Norton, New York.
12. Hogendorn J (1996), Economic Development, Addison, Wesley, New
York. 13. Kahkonon S. and M. Olson (2002), A New Institutional
Approach to Economic
Development, Vistaar. 14. Kindelberger C.P. (1977), Economic
Development (3rd Edition), McGraw Hill, New
York. 15. Meier G.M. (1995), Leading Issues in Economic
Development (6th Edition), Oxford
University Press, Oxford. 16. Myint H (1971), Economic Theory
and Underdeveloped Countries, Oxford
University Press, New York. 17. Myint, Hla (1965), The Economics
of Underdeveloped Countries, Preager, New
York. 18. Thirwal A.P. (1999) (6th Edition), Growth and
Development, McMillan, U.K. 19. Todaro M.P. (2003), (8th Edition),
Economic Development, Longman, London. 20. Weil David N.(2009),
(2nd Edition), Economic Growth, Perarson Education. 21. Yujiro
Hayami and Yoshihisa Godo (2005), (3rd edition) Development
Economics
from Poverty to Wealth of Nations, Oxford University Press.
-
31
M.A. ECONOMICS : SEMESTER III
Core 12
THEORETICAL FOUNDATIONS OF PUBLIC ECONOMICS
[Paper Code : AM3C12EC0N]
Objectives:
To acquaint and equip the students with the theoretical
Foundation of the theory of Public Economics. Course Outline:
UNIT I : Rationale for Public Policy & Public Choice [11
Hours]
Market failure & Role of Government; Changing perspective:
government as an agent for economic planning and development; Major
function of Budgetary policy & Its objectives; private goods,
public goods, and mixed goods, merit goods, demerit goods. Theory
of club goods. Problems of preference revelation and aggregation of
preferences; Voting systems; Arrow impossibility theorem; An
economic theory of democracy. UNIT II : Theory of Public Goods
& Public Expenditure [12 Hours]
Allocation of resources – provision of public goods; Voluntary
exchange models; Impossibility of decentralized provision of public
goods (contributions of Samuelson and Musgrave); Demand-revealing
schemes for public goods. Wagner’s law of increasing state
activities; Wiseman-Peacock hypothesis Colin Clark’s Theory other
recent theories. Reforms in expenditure budgeting; Programme
budgeting, zero base budgeting, Gender based budgeting. UNIT III :
Taxation [11 Hours]
Theory of incidence; Alternative concepts of incidence –
Allocative and equity aspects of individual taxes; Benefit and
ability to pay approaches; Theory of optimal taxation; Excess
burden of taxes; trade -off between equity and efficiency; Theory
of measurement of dead weight losses; The problem of double
taxation. UNIT IV : Public Debt [11 Hours] Classical view of public
debt; Compensatory aspect of debt policy; Burden of public debt;
Sources of public debt; Debt through created money; Automatic and
Discretionary Fiscal stabilizers. Fiscal policy and its functions;
various concepts of budgetary deficits and their implications. Mode
of Instruction: Lecture Method
-
32
References [All Latest Editions wherever applicable] 1.
Atkinson, A.B. and J.E. Siglitz (1980), Lectures on Public
Economics, Tata McGraw
Hill, New York. 2. Auerbach, A.J. and M. Feldstern (Eds.)
(1985), Handbook of Public Economics,
Vol.I, North Holland, Amsterdam. 3. Buchanan, J.M. (1970), The
Public Finances, Richard D. Irwin, Homewood. 4. Goode, R. (1986),
Government Finance in Developing Countries, Tata McGraw Hill,
New Delhi. 5. Houghton, J.M. (1970), The Public Finance :
Selected Readings, Penguin,
Harmondsworth. 6. Jha, R. (1998), Modern Public Economics,
Routledge, London. 7. Menutt, P. (1996), The Economics of Public
Choice, Edward Elgar, U.K. 8. Musgrave, R.A. (1959), The Theory of
Public Finance, McGraw Hill, Kogakhusa,
Tokyo. 9. Musgrave, R.A. and P.B. Musgrave (1976), Public
Finance in Theory and Practice,
McGraw Hill, Kogakusha, Tokyo.
Journal Articles-
As per the instructions and suggestion of the teacher
concerned.
-
33
M.A. ECONOMICS : SEMESTER III
Core 13
INTERNATIONAL TRADE
[Paper Code : AM3C13EC0N]
Objectives:
The objective of this paper is to introduce the students with
various trade theories trade policies and their empirical
relevance. The student will be able to analyze trade issues and
evaluate policy option. Course Outline: UNIT I : International
Trade Theories and their Empirical Verification
[12 Hours]
Classical Theory of Trade and its empirical verification,
opportunity cost approach -Heckscher-Ohlin model, Empirical Testing
and Generalization to n factors and Goods – Kravis and Linder
Theory of Trade, Product – Cycle Hypotheses and other modern
theories of trade. UNIT II : Trade Theories, Technical Progress and
Supply of Factors of Production
[11 Hours]
Economies of scale and Trade, Imperfect Competition and
international trade, intra-industry trade, specific factor model.
Rybczynski theorem, Technical progress and terms of trade, Factor
price equalization theorem. UNIT III : Trade Policies [11
Hours]
Instruments of Trade Policy Theory of tariff, Arguments for
Protection - Tariff and rewards to factors of production, Stolper -
Samuelson theorem- Metzler paradox, Political economy of trade
policy, strategic trade policies. UNIT IV : Regional Block and
World Trading System [11 Hours]
The theory of customs union – European union, Regional Trading
arrangements NAFTA, ASEAN, SAARC, WTO, UNCTAD and World Trading
system, International Factor movements, Multinational firms. Mode
of Transaction:
This course will be delivered through lectures. However, there
will be class discussions on recent developments. There will be
practical exercises on numerical problems and assignments wherever
possible.
-
34
References [All Latest Editions wherever applicable] 1.
Bhagwati, J. (Ed.) (1981), International Trade, Selected Readings,
Cambridge,
University Press, Massachusetts. 2. Carbough, R.J.,
International Economics, International Thempson Publishing,
New York. 3. Chacholiades, M. (1990), International Trade :
Theory and Policy, McGraw Hill,
Kogakusha, Japan. 4. Dana, M.S. (2000), International Economics
: Study, Guide and Work Book, (5th
Edition), Routledge Publishers, London. 5. Dunn, R.M. and J.H.
Mutti (2000), International Economics, Routledge, London. 6.
Government of India: Economic Survey Annual Issue. 7. Kenen, P.B.
(1994), The International Economy, Cambridge University Press,
London. 8. King, P.G. (1995), International Economics and
International Economic Policy : A
Reader, McGraw Hill International, Singapore. 9. Krugman, P.R.
and M. Obstfeld (1994), International Economics : Theory and
Policy, Glenview, Foresman. 10. RBI Annual Report, Latest Issue.
11. RBI: Report on Currency and Finance, Annual Issue. 12.
Salvatore, D., International Economics, Prentice Hall, Upper Saddle
River, N.J.
New York. 13. Soderston, Bo and Reed, International Economics,
The Macmillan Press Ltd.
London.
-
35
M.A. ECONOMICS : SEMESTER III
Core 14
WELFARE ECONOMICS
[Paper Code : AM3C14EC0N]
Objectives:
At the end of this course students will be able to: To enable
the student to understand the important distinction between
positive
Economics & Normative Economics To analyze desirability of
outcomes of positive economics and policy outcomes.
Course Outline: UNIT I : Fundamentals of Classical Welfare
Economics [11 Hours]
The Issue of Welfare and Justice in the Exchange Economy.
Welfare in the Framework of General Equilibrium. – Hedonism and the
Benthamite approach to Aggregate Welfare, Optimum resource
allocation and welfare maximization. – Utility Function of
individuals, Problems in inter-personal Utility comparison, issues
in income distribution. – Marshallian conception of welfare
economics, consumer’s surplus, measurement oof consumer’s surplus
and the problems involved in the measurement. Pigouvian views on
private and social cost. UNIT II : Restructuring Classical Welfare
Economics [11 Hours]
The Principle of compensating variation, Hicksian types of
consumer’s surplus, Slutsky’s approach to measurement of consumer’s
surplus. – The Concept and the conditions of Pareto Optimality,
Pareto optimality in the General Equilibrium system. – Compensation
criteria contributions of Barone, Hicks and Kaldor. Scitovsky
criterion. – Applications of Compensation Principle to tax/bounty
effects. UNIT III : New Welfare Economics-I [11 Hours]
Social Optimum, Community indifference map, Samuelson’s utility
possibility curve – Bergson’s Concept of Welfare and its
Measurement. – Social Welfare Function, Arrow’s Possibility Theorem
and its implications. – Problems of non-market interdependence,
externalities in production and consumption, problems of accounting
and pricing. UNIT IV : New Welfare Economics-II [12 Hours]
External economics and diseconomies. Problems in Accounting. –
Problems of Public Goods and Negative spillovers. The Problem of
Market Failure. – The Second Best Problem, issues related with the
second-best problem. Interdependent utilities. – Welfare, justice
and efficiency, Cascading effects of injustice on efficiency. –
Considerations of welfare in public policies and programmes,
Evaluation of public Policies. Amartya Sen’s contribution &
significance of his work.
-
36
Modes of Transaction:
Majority of course instruction will be through class room
lectures. Part of the Course work will be given in the form of
tutorials and assignments. Some of the topics will be accomplished
through class discussion. References [All Latest Editions wherever
applicable]
1. Baumol, W. J. (ed.) (2001), Welfare Economics, Edward Elgar
Publiching Ltd. UK 2. Broadway, R. W. and N. Bruce (1984), Welfare
Economics, Basil Blaskwell,
Oxford. 3. Browning EK & Browning J. M. (1986),
Microeconomic Theory & Applications,
Kalyani Publishing. 4. Domick Salvatore (2009), Principles of
Micro Economics, Ox Ford University
Press. 5. Frank Robert H. (2006), Micro Economic &
Behaviour, McGraw Hill International. 6. Little, I.M.D. (1957), A
Critique of Welfare Economics, Oxford Univ. Press, Oxford.
(2nd edition). 7. Maurice S. Charles and Philips Owen R. (1992),
Economic Analysis – Theory and
Applications, Richard D. Irwin, Inc. 8. Myint, Hla (1984),
Theories of Welfare Economics, Longmans, London. 9. Quirk, J. and
R. Saposnik (1968), Introduction to General Equilibrium Theory
and
Welfare Economics, McGraw Hill, New York. 10. Solberg Eric J.
(1982), Intermediate Microeconomics – Business Publications, Inc.
Additional Reading List:
1. Blaug, M. (1987), Economic Theory in Retrospect, Cambridge
University Press, London.
2. Feldman, A M (1980), Welfare Economics and Social Choice
Theory, Kluwer Nijkoff, Boston.
3. Pearce, D W and C A Nash (1981), The Social Appraisal of
Projects: A text in Cost Benefit Analysis, Halsted Press. John
Wiley & Sons, New York.
4. Varian, H R (1992), Microeconomic Analysis, W W Norton &
Co. New York.
-
37
M.A. ECONOMICS : SEMESTER III
Core 15(a)
ECONOMICS OF GENDER AND DEVELOPMENT
[Paper Code : AM3C15EC0N]
Objective:
To acquaint and equip the students with the Economics of Gender
and development concerns. Course Outline: UNIT I : Introduction to
Gender Studies [12 Hours]
Concept of gender and importance of gender studies, gender in
mainstream Economics. Gender bias in the theories of value,
distribution and population. Review of ‘neo-classical’ economics
and analysis of Becker’s economics of the family. Bargaining
models. Feminist economics; Approach and a critique of mainstream
economic concepts and methodology. UNIT II : Demographic Aspects
[11 Hours]
Demography of female population: Age structure, mortality rates,
and sex ratio – Causes of declining sex ratios and fertility rates
in LDCs and particularly India – Theories and measurement of
fertility and its control: Women and their access to nutrition,
health, education, and social & community resources - their
impact on female mortality and fertility, economic status – impact
on work participation rate. Impact of technological development and
modernization on women’s work participation. UNIT III : Women’s
Work and Development [11 Hours]
Concept of ‘Work’: Productive and unproductive, visible and
invisible, paid and unpaid work, economically productive and
socially productive work. Methods of evaluating women’s unpaid
domestic work and women’s contribution to national income. Returns
to girls education and women’s contribution to national income.
Gender and development Indices. Government policies and their
critical appraisal. UNIT IV : Women and Labour Market [11
Hours]
Intra-household decision making and division of labour within
the household. Factors affecting decision making. Human capital
models and labour market discrimination theories: Approaches and
limitations. Gendered attachments to the labour market: gender
differences in occupation and earnings across different sectors.
Wages-Structure and differentials. Mode of Transaction: Lecture
Method and assignment.
-
38
References [All Latest Editions wherever applicable]
1. Gary S. Becker (1991). A Treatise on the Family, Harvard
University Press, 2. Government of India (1974), Towards Equality –
Report of the Committee on the
Status of Women in India, Department of Social Welfare, Ministry
of Education and Social Welfare, New Delhi.
3. Joyce P. Jacobson (1998), Economics of Gender (2nd Edition),
Blackwell Publishing, New York.
4. Krishnaraj, M, R.M. Sudarshan and A. Shariff (1999), Gender,
Population and Development, Oxford University Press, New Delhi.
5. Seth, M. (2000), Women and Development : The Indian
Experience, Sage Publications, New Delhi.
6. Srinivasan K. and A. Shroff (1998), India: Towards Population
and Development Goal, Oxford University Press, New Delhi.
7. Venkateswaran, S. (1995), Environment, Development and the
Gender Gap, Sage Publications, New Delhi.
8. Wazir, R. (2000), The Gender Gap in Basic Education : NGOs as
Change Agents, Sage Publication, New Delhi.
Journal Articles- As per the instructions and suggestion of the
teacher concerned.
http://www.hup.harvard.edu/catalog/BECTRR.htmlhttp://en.wikipedia.org/wiki/Harvard_University_Press
-
39
M.A. ECONOMICS : SEMESTER III
Core 15(b)
INDUSTRIAL ECONOMICS
[Paper Code : AM3C15EC0N]
Objective:
To acquaint and equip the students with the theory of Industrial
Economics. Course Outline:
UNIT I : Framework and Problems of Industrial Economics [12
Hours]
Scope of Industrial Economics, Concept and organization of a
firm; ownership, control and objectives of the firm; Passive and
active behaviour of the firm; Various Theories of firm; Black Box
view of the firm; and the modern contractual approach;
classification of industries.
UNIT II : Market Structure [11 Hours]
Sellers’ concentration; Product differentiation; Entry
conditions; Economies of scale and scope; Market structure and
profitability; Market structure and innovation; Theories of
industrial location – Weber and Sargent Florence; Factors affecting
location.
UNIT III : Market Conduct: [11 Hours]
Product pricing – theories and evidence; Theories and empirical
evidence on Merger and acquisitions (M & As) and
diversification, Research and Development, Advertising, Vertical
restraints.
UNIT IV : Market Performance [11 Hours]
Growth of the firm – Size and growth of a firm; Growth and
profitability of the firm; Constraints on growth; Productivity,
efficiency and capacity utilization – Concept and measurement.
Market concentration and market performance. Mode of Transaction:
Lecture method. References [All Latest Editions wherever
applicable]:
1. Armstrong,M and Porter R (2007) Handbook of Industrial
Organization. North -Holland
2. Barthwal, R.R. (1992), Industrial Economics, Wiley Eastern
Ltd., New Delhi. 3. Divine, P.J. and R.M. Jones et.al. (1976), An
Introduction to Industrial Economics,
George Allen and Unwin Ltd., London. 4. Hay, D. and D.J. Morris
(1979), Industrial Economics : theory and Evidence, Oxford
University Press, New Delhi. 5. Stephen Martin (1989),
Industrial Economics, Maxwell Macmillan.
Journal Articles : As per the instructions and suggestion of the
teacher concerned.
-
40
M.A. ECONOMICS : SEMESTER III
Interdisciplinary Elective 03
GUJARAT ECONOMY
[Paper Code : AM3I03EC0N]
Objectives:
At the end of this course students will be able to: To enable
the student to understand the various aspects of Gujarat Economy as
a
growing economy. To analyze the future prospects of Gujarat
Economy.
Course Outline:
UNIT I : Gujarat Economy – An Overview [12 Hours]
Gujarat in Indian Economy - Growth and Structural Change in the
Economy of Gujarat - Economic Scene of Gujarat - District level
Planning in Gujarat - Infrastructure in Gujarat, Pattern of
Financial Outlays,
UNIT II : Agriculture and Rural Development [10 Hours]
Agricultural and Irrigation Development - Land use Pattern,
Issues in Agricultural Productivity, New Agro – Industrial Policy,
Sources of Irrigation Institutional set up for Irrigation
Development – Agricultural Marketing Infrastructure – Allied
Agricultural Activities.
UNIT III : Industry and Urban Development [12 Hours]
Pattern of Industrial Development in Gujarat - Key Industries in
Gujarat, Industrial Policy of Gujarat, Urbanization - Process,
Development and related problems - Social Sector in Gujarat -
Employment Scenario - Environmental Problems of Industrialization
and Urbanization
UNIT IV : Financial Development in Gujarat [11 Hours]
Public Sector Financial Institution in Gujarat : Functions and
Working - Banking in Gujarat - Commercial Banks - Rural Credit in
Gujarat : Micro Finance and Credit Co-operatives - Financing of
Government of Gujarat.
Modes of Transaction:
Majority of course instruction will be through class room
lectures. Part of the Course work will be given in the form of
tutorials and assignments. Some of the Topics will be accomplished
through class discussion.
References (All Latest Editions wherever applicable)
1. Bhatt, B. K. (2009) - The Gujarat Economy (2nd Revised
Edition), Vrinda Publication Ltd. New Delhi.
2. Bureau of Economics and Statistics, Govt. of Gujarat –
Socio-Economic Survey of Gujarat. 3. Govt. of Gujarat – Annual
Budget of Govt. of Gujarat. 4. Menon, Sudha V. (2010) - Gujarat
Economy : The Way Ahead, The ICFAI University Press.
-
41
M.A. ECONOMICS : SEMESTER IV
Core 16
ECONOMIC GROWTH AND STRUCTURAL CHANGE
[Paper Code : AM4C16EC0N]
Objectives:
At the end of this course students will be able to: Understand
the importance of factors of production in growth process.
Comprehend in adequate detail the role of Technological progress in
Growth
processes. Understand the structural changes accompanying
development process. Understand the relation between Growth theory
and Planning Process.
Course Outline: UNIT I : Economic Growth and Technological
Change [11 hours]
Statics, Dynamics and Steady State Growth; Choice of technique;
Technological progress – embodied and disembodied technical
progress; neutral and non-neutral Technical Progress [Hicks and
Harrod’s views]; learning by doing, Pace of technological change;
Production function approach to economic growth, Power functions;
Total factor productivity and growth accounting. Technical
efficiency and scale of operation; Embodied technical change and
measurement bias. UNIT II : Economic Growth and Economic Models [12
hours]
Growth models – Harrod-Domar growth models; Neo-Classical growth
models – Solow and Meade, Joan Robinson’s growth models; Cambridge
criticism of Neo-classical analysis of growth, the capital
controversy. Growth models of Kaldor and Tobin; Extension of
Neo-classical models: The new growth theory; Endogenous growth;
Intellectual capital: role of learning, education and research; AK
model – Explanation of cross country differentials in economic
growth. UNIT III : Growth and Structural Change [11 hours]
Morphology of Growth – Structural changes accompanying growth –
Patterns of sectoral changes. Trends in growth of National Income;
Development and Structural Change – Engel’s elasticities –
Structural changes in Demand – Production – Investment- labour
absorption – Migration - Trade; Sectoral productivity - growth and
Distribution; Inequalities; Inverted ‘U’ Hypothesis; Regional
Development - centre periphery theory – Inter regional and intra
regional development. UNIT IV : Allocation of Resources &
Development Planning [11 hours]
Market failure and state failure, Need for investment criteria
in developing countries - present vs., future, Alternative
investment criteria; Cost - benefit analysis, Shadow prices,
Project evaluation. Need for planning - democratic decentralized
and indicative planning, micro level planning, regional planning;
Plan models in Indian Planning , Alternative strategy, Input Output
Models and Linear Programming. East Asian miracle, India and China
in 21st century.
-
42
Modes of Transaction:
Lecture method is generally used but along with it as and when
required, discussion method would be used.
Activity assignments be given to the students and assignment
method would help them to learn by doing.
Power Point presentation may be used for delivering
lectures.
References [All Latest Editions wherever applicable]: 1. Adelman
I (1961), Theories of Economic Growth and Development, Stanford
University Press, Stanford. 2. Barrow R. & Sala-Xavier
Martin (2007), Economic Growth, Prentice Hall of India. 3. Behrman,
S and T.N. Srinivasan (1995), Handbook of Development Economic
Vol.
3, Elsevier, Amsterdam. 4. Brown M. (1966), On the Theory and
Measurement of Technical Changes,
Cambridge University. 5. Chenery H B et. (Eds) 91974),
Redistribution of Growth, Oxford University Press,
Oxford. 6. Chenery H and T N Srinivasan (Eds) (1989), Handbook
of Development
Economics, Vols. 1 & 2, Elsevier, Amsterdam. 7. Dasgupta P
1993), An Enquiry in to Well-being and Destitution, Clarendon
Press,
Oxford. 8. Ghatak S (1986), An Introduction to Development
Economics, Allen and Unwin,
London. 9. Gillis M., D, H. Perkins, M. Romer and D.R. Sndograss
(1992), Economics of
Development (3rd Edition), W. W. Norton, New York. 10. Gimmell
N. (1987), Survey in Economic Development, Blackwell, Oxford. 11.
Higgins B. (1959), Economic Development, W. W. Norton, New York.
12. Hogendorn J (1996), Economic Development, Addison, Wesley, New
York. 13. Kahkonon S. and M. Olson (2002), A New Institutional
Approach to Economic
Development, Vistaar. 14. Kindelberger C.P. (1977), Economic
Development (3rd Edition), McGraw Hill,
New York. 15. Meier G.M. (1995), Leading Issues in Economic
Development (6th Edition), Oxford
University Press, Oxford. 16. Myint, Hla (1965), The Economics
of Underdeveloped Countries, Preager, New
York. 17. Myint H (1971), Economic Theory and Underdeveloped
Countries, Oxford
University Press, New York. 18. Todaro M.P. (2003), (8th
Edition), Economic Development, Longman, London. 19. Thirwal A.P.
(1999) (6th Edition), Growth and Development, McMillan, U.K. 20.
Weil David N.(2009), (2nd Edition), Economic Growth, Perarson
Education. 21. Yujiro Hayami and Yoshihisa Godo (2005), (3rd
edition) Development Economics
from Poverty to Wealth of Nations, Oxford University press.
-
43
M.A. ECONOMICS : SEMESTER IV
Core 17
FISCAL FEDERALISM – WITH REFERENCE TO INDIA
[Paper Code : AM4C17EC0N]
Objective:
To acquaint and equip the students with the principles and
theory of Fiscal federalism and the functioning of Fiscal
Federalism in India. Course Outline: UNIT I : Principles and
Structure of Multiunit Finance [12 Hours]
Canons of Fiscal Federalism; Fiscal powers of different levels
of government and system of inter-governmental resource transfer in
India and Fiscal relations. Finance Commission and Planning
Commission; Various fiscal issues across Centre-State-local level
governments. UNIT II : Growth and Structure of Government
Expenditure and Revenue
[11 Hours]
Public sector in national income accounts. Growth, structure,
composition of various components of government (Central and State)
expenditure and revenue. Causes of expenditure and revenue growth.
UNIT III : Tax System and Public Debt [11 Hours]
Tax system in India, its features and reforms; public debt of
central and state governments; various types of deficits and their
implication, approach and measures to debt servicing. UNIT IV :
Local Government Finance [11 Hours]
Nature of fiscal decentralization at Panchayat and municipal
corporation levels. Functions and powers. Finance Commission and
local government bodies, Role and function of State Finance
Commission. Mode of Instruction: Lecture method and assignments.
References [All Latest Editions wherever applicable]
1. Bhatia H.L. Public Finance, Vikas Publishing House Pvt. Ltd,
New Delhi. 2. Prakash Om, Public Economics- Theory and Practice,
Vishal Publishing Co,
Jalandhar-Delhi 3. Government of India: Finance Commission
Report, Reserve Bank of India Journal Articles:
As per the instructions and suggestion of the teacher
concerned.
-
44
M.A. ECONOMICS : SEMESTER IV
Core 18
INTERNATIONAL FINANCE AND MONETARY SYSTEM
[Paper Code : AM4C18EC0N]
Objectives:
At the end of the course student will be able to analyze BOP
issues and trends in the open economy.
This course will provide students with the knowledge relating to
various aspects of BOP, International Monetary and Financial
Institution and their impact on Indian economy as well as global
economy.
The student will be able to understand the working of exchange
rate mechanism and foreign exchange market.
Course Outline:
UNIT I : Balance of Payments [12 Hours]
Equilibrium and disequilibrium in the balance of payment; The
process of adjustment under systems of Gold standard, fixed
exchange and flexible exchange rates; Income adjustment approach –
foreign trade multiplier with and without foreign repercussions and
determination of national income and output; a critical review of
the monetary approach to the theory of balance of payments
adjustment; Expenditure-reducing and expenditure-switching policies
and direct controls for adjustment. UNIT II : International Finance
[11 Hours]
International Financial Markets – Foreign Exchange Markets –
spot and forward market Exchange rate determination – purchasing
power parity conditions. Interest Rate Arbitrage and Interest Rate
Parity conditions, Exchange Rates – Overshooting and undershooting
– J curve effect– Emerging capi