Economics

     www.dpttecopu.ac.in

    Estd.-1917

DEPARTMENT OF ECONOMICS

                                  PATNA UNIVERSITY

            PATNA-800 005

Ref No………………….                                                                                                                                                                       Date.  06/08/2018

To,

The Officer on special Duty (judl.)

Governor’s Secretariat, Bihar

RAJ BHAVAN, PATNA—800022

Sub:- Regarding implementation of Choice Based Credit System(CBCS) in the

State  Universities of Bihar.

Sir,

 Kindly refer to your letter no.B.S.U(Regulation)-20/2018-2015 /GS(I),Dated 30-07-2018 regarding implementation of Choice Based Credit System (CBCS) in the State Universities of Bihar.

Accordingly a revised syllabus has since been prepared by the constituted Committee of experts for Economics keeping in view the CBCS Regulations. The revised syllabus is hereby submitted which is now in complete consonance with the CBCS Regulations .

Kindly acknowledge the receipt.

Encl :- Revised CBCS Syllabus of Economics

                                                                                                                                                           Yours Sincerely

                                                                                                                                                              Dr. Raj Luxmi

                                                                                                                                                 H.O.D Economics, Patna university                                                                                                                                                            Convener,  Experts Committee for Economics

SYLLABUS

The Two Year (Four Semester)

             Post Graduate Degree Programme

   Subject :- ECONOMICS

 

     M.A. Economics In the faculty of Social Sciences Programme Code: M.A. (ECO) Under Choice Based Credit System (CBCS)

(To be effective from 2018-19)

The Two Year ( Four Semester) Post Graduate Programme

M.A. in Economics under Choice Based Credit System(CBCS)

 

BASIC FRAMEWORK

The UGC has initiated a number of steps to provide quality and innovative education and to promote academic excellence in higher education. Implementation of CHOICE BASED CREDIT SYSTEM (CBCS) in UG and PG level uniformly in all the institutions and Universities is one of them. Higher Education undoubtedly plays a critical role in shaping the economy of both the individual and nation. Choice Based Credit System is an internationally acknowledged system which allows mobility of students in the institutions of Higher Learning. It focuses from teacher-centric to student-centric education and skill-oriented. Provision of Choice is an essential condition for broad-based learner’s profile across areas of knowledge. It offers flexibility to students to earn credits at their own pace. It allows integration of best courses from best teachers through the Massive Open Online Courses (M00Cs).CBCS is a cafeteria type approach in which the students can

-take courses of their own choices,

-undergo additional courses,

-acquire more than required credits,

-adopt an interdisciplinary approach of learning,

-transform the learning from traditional teacher-centric to students-centric.

Objectives:

  1. To provide greater flexibility in the choice of courses to students.
  1. To provide broad —based education.
  1. To enable students to choose courses at basic/advanced/interdisciplinary.
  1. To enable students to acquire job-oriented skills.
  1. To enable Students to progress at their own pace.
  1. To enable highly motivated students to gain extra credits.
  1. To bridge the gap between professional and social exposure to provide a holistic education.

 

         M.A Programme:- The Master of Arts in Economics is a Two year Full Time Programme, with each year comprising of Two Semesters. Two consecutive, one odd +one even i.e. I & Il Semester in First Year and III & IV Semester in the next /Final Year. The Odd Semester may be scheduled from July to December and Even Semester from January to June. Each Semester will consist of 15-18 weeks of Academic Year to 90 actual teaching days

General Instructions:

  1. The new CBCS syllabus shall be effective from the Academic Session 2018-19.
  1. The M. A. Degree Program will consists of 20 (Twenty) courses/ papers spread over four semesters consisting of Core Courses (CC), Elective Courses (EC), Discipline Specific Elective Courses (DSE), Generic Elective Courses(GE), Ability Enhancing Courses (AEC) and Ability Enhancing Compulsory Courses (AECC) as described in Table – 2. There shall be five papers/courses in First Semester, six courses/papers in Second Semester, six courses/papers in Third Semester and three courses/papers in Fourth Semester, each course carrying 100 marks. The entire curriculum shall be of 2000 marks taken together. However, CGPA/Class shall be awarded on the performance of the candidate on 16 papers which include the 14 CC papers and two EC papers having an aggregate of 1600 marks. The various types of courses under CBCS are defined below in Section 3.

 

  1. Various Type of Courses:

3.1:  Core Courses (CC): A course which should compulsorily be studied by a candidate as a core requirement on the basis of subject of M. A. studies and 1s termed as a core course.

3.2:  Elective Courses (EC): Generally a course which can be chosen from a pool of courses (basket) and which may be very specific or specialized or advanced or supportive to the subject/ discipline of the study or which provides an extended scope or which enables an exposure to some other subject/ discipline/ domain or nurtures the candidates proficiency/ skill is called an elective course.

3.3: Discipline Specific Elective Courses (DSE): Elective courses may be offered by the main discipline/ subject of study is referred to as Discipline Specific Elective Courses. The University/ institute may also offer discipline related elective courses of interdisciplinary nature (to be offered by main discipline/ subject of study.)

3.4: Generic Elective Courses (GE): An elective course chosen generally from an unrelated discipline / subject with an intention to seek exposure is called a Generic Elective.

 

 

 

 

                                                                                                                                                                 

  1. S.: A core course offered in a discipline / subject may be treated as an elective by other discipline / subject and vice versa and such electives may also be referred to as Generic Elective.

3.5:  Ability Enhancement Courses (AEC): The Ability Enhancement Courses (AEC) is the courses based upon the content that leads to life skill enhancement.

3.6: Ability Enhancement Compulsory Courses (AECC): University will run a number of Ability Enhancement Compulsory Courses (AECC) which is qualifying in nature and students from all faculties have to qualify in all courses.

  1. Dissertation/ Project/ Internship/ Industrial Training: An elective course designed to acquire special/ advanced knowledge, such as supplement study/ support study to a project work, and a candidate studies such a course on his own with an advisory support by a teacher/ faculty member 1s called Dissertation/ Project.
  1. Credits: The total minimum credits required for completing P G Programme in Economics is 100. The details of credits for individual components and individual courses are given in Table — 1 below:

Table — 1

Structure of the Two Year (Four Semester)

Semester

No. of Course/Paper

Credit per Course/Paper

Total Credits

Minimum No. of Learning Hours

No. of Core Courses/Paper

No. of Elective Courses/Paper

Code and Nature of Elective Courses/Paper

I

05

05

25

250

04

1

AECC-1

Semester Break

II

06

05

30

300

05

1

AEC-1

Semester Break

III

06

05

30

300

05

1

AECC-2

Semester Break

IV

03

05

15

150

0

3

EC-1

EC-2

DSE-1 or, GE-1

Total

20

 

100

1000

14

06

 

 

   

Post Graduate Degree Programme in ECONOMICS under CBCS

# For Tutorial (T)/ Practical (P)/ Field Work (FW)/ Internship etc. Extra working

hours to be added as per requirement and will be decided by BOCS of the

Department.

                                                                                                                                               

 

 

* The two Elective Courses (EC) to be studied in Semester [IV may be:

Both theory papers/

One theory paper and one practical paper/

One theory paper and one project work/

One theory paper and one field work

Both project work /Internship

IMP: It is desirable that all students of all courses be given adequate exposure over and above the class room teaching to enhance the scope of employability.

  1. The distribution of the six elective papers shall be – Two ECs, one DSE or one GE, two AECCs and one AEC. Students may opt for any elective course(s) out of a list of elective papers (Basket) offered by the parent Department or by any other Department(s) as per his/ her choice with the prior permission of the parent department. The list of elective papers/ courses, syllabus and prerequisites of the elective course will be as decided by the Board of Courses of Study (BOCS) of

the concerned department.

  1. The final CGPA/ Class will be decided on the performance of the student in the 16 courses/ papers including 14 Core Courses and 2 Elective Courses.
  1. The one DSE or GE, two AECCs and one AEC courses will be qualifying in nature and student has to score at least 45 percent marks in these courses. Grade will be awarded separately for these courses, however, performance in these elective courses/ papers will not be considered for awarding the final CGPA/ Class.
  1. Basket of Ability Enhancement Courses (AEC): (any one)

* Computers and ICT

* Web Designing

* Derivatives and Risk Management

* Solid Waste Management

* Mushroom Technology

* Bio-fertilizer Technology

* Environmental Law and Policy

* Tourism & Hospitality Management

* Life and Communication Skill Development

* Yogic Sciences

  1. Basket of Generic (GE) Courses: ( may opt any one)

* Graphic Designing

* Inclusive Policies

* Human Rights

* Family Management

* Any course run by any department

 

Post Graduate Degree Programme in ECONOMICS under CBCS

# For Tutorial (T)/ Practical (P)/ Field Work (FW)/ Internship etc. Extra working

hours to be added as per requirement and will be decided by BOCS of the

Department.

                                                                                                                                               

 

 

* The two Elective Courses (EC) to be studied in Semester [IV may be:

Both theory papers/

One theory paper and one practical paper/

One theory paper and one project work/

One theory paper and one field work

Both project work /Internship

IMP: It is desirable that all students of all courses be given adequate exposure over and above the class room teaching to enhance the scope of employability.

  1. The distribution of the six elective papers shall be – Two ECs, one DSE or one GE, two AECCs and one AEC. Students may opt for any elective course(s) out of a list of elective papers (Basket) offered by the parent Department or by any other Department(s) as per his/ her choice with the prior permission of the parent department. The list of elective papers/ courses, syllabus and prerequisites of the elective course will be as decided by the Board of Courses of Study (BOCS) of

the concerned department.

  1. The final CGPA/ Class will be decided on the performance of the student in the 16 courses/ papers including 14 Core Courses and 2 Elective Courses.
  1. The one DSE or GE, two AECCs and one AEC courses will be qualifying in nature and student has to score at least 45 percent marks in these courses. Grade will be awarded separately for these courses, however, performance in these elective courses/ papers will not be considered for awarding the final CGPA/ Class.
  1. Basket of Ability Enhancement Courses (AEC): (any one)

* Computers and ICT

* Web Designing

* Derivatives and Risk Management

* Solid Waste Management

* Mushroom Technology

* Bio-fertilizer Technology

* Environmental Law and Policy

* Tourism & Hospitality Management

* Life and Communication Skill Development

* Yogic Sciences

  1. Basket of Generic (GE) Courses: ( may opt any one)

* Graphic Designing

* Inclusive Policies

* Human Rights

* Family Management

* Any course run by any department

Table — 2

Description of Courses/Papers for M A Degree in Economics under CBCS

 

Table — 2

Description of Courses/Papers for M A Degree in Economics under CBCS

 

Course/Paper Code

Nature of Course/Paper

Marks

Marks in CIA

Marks in ESE

Passing Criterion

Qualifying Criterion

 

 

 

 

 

I

CC – 1

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 2

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 3

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 4

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

AECC – 1

Ability Enhancing Compulsory Elective

100

50

50

45% in CIA

45% in ESE

Qualifying

 

 

 

 

 

 

II

CC – 5

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 6

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 7

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 8

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 9

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

AEC – 1

Ability Enhancing Compulsory Elective

100

50

50

45% in CIA

45% in ESE

Qualifying

 

 

 

 

 

 

III

CC – 10

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 11

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 12

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 13

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

CC – 14

Subject related Compulsory

100

30

70

45% in CIA

45% in ESE

Marks decide Class/CGPA

AECC – 1

Ability Enhancing Compulsory Elective

100

50

50

45% in CIA

45% in ESE

Qualifying

 

 

 

IV

EC – 1

Subjective Specific Elective

100

Will be decided by BOCS

Will be decided by BOCS

45% in CIA

45% in ESE

Marks decide Class/CGPA

EC – 2

Subjective Specific Elective

100

Will be decided by BOCS

Will be decided by BOCS

45% in CIA

45% in ESE

Marks decide Class/CGPA

 

 

                                                                                                                                                                       

 

 

 

 

 

 

DSE – 1

or

Discipline Specific Elective

100

30

70

45% in CIA

45% in ESE

Qualifying

GE – 2

Discipline  Specific Elective

100

30

70

45% in CIA

45% in ESE

Qualifying

 

Programme: M.A.( Economics):

 

Semester I: CC-1 to CC-4 plus AECC-1

Semester II: CC-5 to CC-9 plus AEC-1

Semester III: CC-10 to CC-14 plus AECC-2

Semester IV: EC-1 and EC-2 plus DSE-1 or GE-1

 

Table — 3

Outline of M.A. Economics Programme

SEMESTER I

S. No.

Course Code

Course / Paper

Credits

1.

CC – 1

Micro Economics Analysis – I

5

2.

CC – 2

Macro Economic Analysis – I

5

3.

CC – 3

Mathematical Methods

5

4.

CC – 4

History of Economic Thought

5

5.

AECC – 1

Environmental Sustainability (3 credits) & Swachchha Bharat Abhiyan Activities (2 credits)

5

Total Credits

25

SEMESTER II

S. No.

Course Code

Course/Paper

Credits

1.

CC – 5

Indian Economy – Issues & Policies – I

5

2.

CC – 6

Economics of Growth & Development – I

5

3.

CC – 7

Microeconomics Analysis – II

5

4.

CC – 8

Macroeconomics Analysis – II

5

5.

CC – 9

Statistical Methods

5

6.

AEC – 1

Any one from Basket of Ability Enhancement Courses

5

Total Credits

30

 

                                                                                                                                                                                                                                                                                                                                               

 

 

SEMESTER III

S. No.

Course Code

Course/Paper

Credits

1.

CC – 10

Indian Economy – Issues & Policies – II

5

2.

CC – 11

Economics of Growth & Development – II

5

3.

CC – 12

Public Economics

5

4.

CC – 13

International Economics

5

5.

CC – 15

Research Methodology

5

6.

AECC – 2

Human Values and Professional Ethics (3 credits)

& Gender Sensitization (2 credits)

5

Total Credits

30

SEMESTER IV

S. No.

Course Code

Course/Paper

Credits

1.

EC – 1

(A) Agricultural Economics

5

(B)  Industrial Economics – I

(C) Basic Economics

(D) Monetary Economics & Policy

(E) Indian Public Finance

(F) Urban Economics

(G) Financial Economics – I

(H) Environmental Economics

 

2

EC – 2

(A) Indian Banking & Financial Institutions

5

(B) Industrial Economics – II

(C) Demography

(D) Agri – Business Management

(E) Labour Economics

(F) Gender Economics

(G) Financial Economics – II

(H) Time Series Economics

(I) Project Work

3

DSE – 1

Or

(A) Fundamentals of Economics

5

(B) Indian Rural Development

(C) planning And Economic Development in India

(D) Personnel Management & Industrial Relation

GE – 1

May opt one from Basket of Generic Courses

Total Credits

15

 

                                                                                                                                                                       

                                                           

 

  1. A. ECONOMICS

SEMESTER — I

CC-1:  Micro Economic Analysis-I

Module 1: Consumer/ Demand Theory: Marshallian Utility Analysis, Indifference Curve Analysis, Price Effect, Income and Substitution Effects (Slutsky and Hicks), Consumer Surplus- Hicksian Approach, Compensated Demand Curve, Revealed Preference Analysis, Hicks’ Revision of Demand Theory. The Pragmatic Approach to Demand Theory, The Constant Elasticity of Demand Function, The Dynamic Demand Functions, The Empirical Demand Function, The Linear Expenditure System.

Module 2: Production Theory: Iso-quant, Production Function, Law of variable proportions; Returns to Scale: Linear Homogeneous Production Function — Cobb Douglas Production Function, CES Production Function, Cost’ Functions — Traditional Theory of Cost, Modern theory of Cost.

Module 3: Perfect Competition: Features of Perfect Competition, Determination of Market Price and Quantity, Short Run and Long Run Equilibrium of the Firm and Industry, Derivation of Supply curve.

Module 4: Imperfect Competition I: Monopoly: Short and Long Run Equilibnium, Price Discrimination, Monopoly Power Control and Regulation of Monopoly, Monopsony, Bilateral Monopoly; Chamberlain’s Monopolistic Competition —Short and Long Run Equilibrium.

Module 5: Imperfect Competition II: Duopoly Models: Cournot, Bertrand, Edge Worth and Stackelberg Models. Oligopoly Characteristics, Sweezy’s Kinked Demand model, Models of Cartels and Price Leadership.

BASIC READING LIST:

  1. Koutsoyiannis, A: Modern Microeconomics, Macmillan
  2. Ahuja: Advanced Economic Theory,
  3. Pindyck, R.S. and D.L.Rubinfeld: Microeconomics, Pearson Educational
  4. Crystal, R. and A. Lipsey: Microeconomics, Oxford University Press.
  5. Varian, H.R.: /ntermediate Microeconomics, W.W. Norton & Co
  6. Krugman, Paul Wells, Robin Microeconomics, Worth Publishers WH FREEMAN & CO
  7. Baumol, W.J., Economic Theory and Operations Analysis, Prentice Hall.
  8. Chamberlin, E.H., The Theory of Monopolistic Competition.

 

  1. Chamberlin, E.H., The Theory of Monopolistic Competition.
  2. Henderson and Quandt, Micro Economic Theory, A Mathematical Approach.
  3. Hicks, J.R., Revision of Demand Theory.
  4. Hicks, J.R., Value and Capital. . Marshall, A., Principles of Economics
  5. Robbins, L., The Nature and Significance of Economic Science
  6. Robinson, Joan., The Economics of Imperfect Competition.
  7. Samuelson, P.A., Foundations of Economic Analysis.
  8. Stigler, G.J., The Theory of Price.
  9. Williamson, O.E., The Economics of Discretionary Behavior (Prentice- hall, 1964)
  10. Cyert, R.M., and J.G March, A Behavioral Theory of the Firm (Prentice —hall, 1963)
  11. R. Varian, Micro Economic Analysis
  12. Mascollel, Whinstone & Green, Micro Economic Theory, OUP
  1. A. ECONOMICS

      SEMESTER – I

                                      CC- 2: Macro Economic Analysis— I

 

Module 1: National Income Accounting: Approaches of Macro Economics and Vanables — Circular Flow of Income in Two, Three and Four-Sector Economy; Different Forms of National Income Accounting — Social Accounting, Input-Output Accounting, Flow of Funds Accounting and Balance of Payments Accounting.

Module 2: Consumption Function: Consumption Function — Keynes Psychological Law of Consumption — Implication of the Law; Short-Run and Long-Run Consumption Function; Empirical Evidence on Consumption Function; Income — Consumption Relationship — Absolute Income, Relative Income, Permanent and Life Cycle income Hypotheses and _ their Reconciliation.

Module 3: Investment Function: Marginal Efficiency of Capital and Investment — Long Run and Short Run Marginal Efficiency of Investment and Level of Investment, Accelerator Theories namely Simple Investment Multiplier, Dynamic Multiplier, Accelerator and Super Multiplier.

Module 4: Supply of Money: Measures of Money Supply, Theories of Money Supply, Monetary Transmission Mechanism and RBI approach to money supply; High Powered Money and Money Multiplier, Budget Deficits and Money Supply and Control of Money Supply, Analysis and Variations in Money Supply in India.

Module 5: Demand for Money: Theories of Demand for Money — Classical Approach to Demand for Money — Quantity Theory Approach, Fisher’s Equation, Cambridge Quantity Theory, Keynes Liquidity Preference Approach, Transaction, Precautionary and Speculative Demand for Money, Aggregate Demand for Money; Derivation of LM curve.

                                                                                                                                                             

 

 

BASIC READING LIST:

  1. Renerm D.L. (1996) Advanced Macro Economics, McGraw Hill Company Limited, New

York.

  1. Scarfe, B.L. (1977), Cycles Growth and Inflation, McGraw Hill, New York.
  2. Shapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New Delhi.
  3. Edey, M and A.T. Peacock (1967), National Income and Social Accounts, Hutchinson

University Library, London.

  1. Powelson, J.P. (1960), National Income and Flow of Funds Analysis, McGraw Hill, New

York.

  1. Rao, V.K.R.V. (1983), India’s National Income: 1950 to 1980, sage Publications, New Delhi.
  2. Ruggles, R and N Ruggles (1956), National Income Accounts and Income Analysis, McGraw

Hill, New York

  1. Duesenberry, J.S (1949), Income, Saving and the Theory of Consumer Behaviour. Harvard

University Press, Harvard.

  1. Friedman M. (1957), The Theory of Consumption Function, Princeton University

Press, Princeton.

  1. Mueller, M.G. (1966), Readings in Macroeconomics, Holt Rinehart and Winston, New York
  1. A. ECONOMICS

          SEMESTER – I

CC- 3: Mathematical Methods

 

 

Module 1: Concept and Types of Function, Concepts of Derivative, Rules of Differentiation,

Applications of Derivatives in Economics, Interpretation of Revenue, Cost, Demand and Supply

Functions, Profit Maximization, Elasticity and their types.

Module 2: Rules of Partial Differentiation, Interpretation and Applications of Partial

Derivatives, Homogeneous Function, Euler’s Theorem, Cobb-Douglas and CES Production

Function. Rules of Integration- Definite Integration, Application of Integration in Economics,

Consumer’s Surplus and Producer’s Surplus.

Module 3: Determinants and their Basic Properties, Matrix Algebra — Concept and Types,

Simple Operation on Matrices, Matrix Inversion, Rank of Matrix, Solution of Simultaneous

Equations Model through Matrix Method and Crammer’s Rule; Concept of Vector and Its

Properties.

Module 4: Constrained Optimization, Lagrangian Multiplier and Its Simple Economic

Applications, Maximization of Utility and Maximization of Profits.

 

Module 5: Introduction to Linear Programming, Formulation of Linear Programming Problem – Its Structure and Variables, Nature of Feasible, Basic, Optimal Solution, Solution of Linear Programming through Graphic Method, Concept of Duality.

Module 6: Input Output Analysis —Meaning and Basic Concepts, Open, Closed, Static and Dynamic Models, Game Theory- Basic Concepts of Game Theory, Zero Sum and Non Zero Sum Game, Pure and Mixed Strategy.

BASIC READING LIST:

  1. Monga, G.S. (1972), Mathematics and Statistics for Economists, Vikas Publishing House, New Delhi.
  2. Chiang, A.C. (1988), Fundamental Methods of Mathematical Economics, Mac Graw_ Hill, New York.
  3. Allen, R.G.D. (1974), Mathematical Analysis for Economists, Mac Millian Press and ELBS, London.
  4. Dowling, E.T. (1992), Mathematical Economics 2™ Edition, Mac Graw Hill, New York.
  5. Yamune, Taro (1975) Mathematics for Economists, Prentice Hall of India, New Delhi.
  6. A. ECONOMICS

SEMESTER —- I

CC- 4: History of Economic Thought

 

 

Module 1: Mercantilism- Main Policies / Principles related to Precious Metals, Role of State,

Balance of Trade & Role of Export.

Module 2: Physiocracy – Natural Order, Product Net, Circulation of Wealth etc.

Module 3: Classical Economic Thinkers- Adam Smith, David Ricardo, Malthus, Scientific

Socialism- Karl Marx, J S Mill.

Module 4: Neo Classical Economic Thinkers: Hicks, Myrdal, Arrow & Lewis

Module 5: Kautilya , Dada Bhai Naoroji, M.K. Gandhi ,M G Ranade ,G K Gokhale

Module 6: B.R. Ambedkar, Jawahar Lal Nehru ,D. R. Gadgil, Jai Prakash Narayan ,Ram

Manohar Lohia, Jagjyivan Ram, P. R. Brahmanand & C.N. Vakil ,VKRV Rao &

Amartya Sen.

BASIC RESDING LIST:

  1. Eric Roll- History of Economics Thought
  2. Gide and Rist – A History of Economic Doctrines
  3. Gray, A., Development of Economic Doctrines
  4. Haney — History of Economic Thought
  5. Lenin, V.L., Imperialism- The Highest Stage of capitalism

 

  1. Marx, K., A Contribution to the Critique of Political Economy
  2. Marx, K., Capital Vol. |
  3. Marx, K., Capital Vol. II
  4. Schumpeter, A History of Economics Analysis Ten Great Economists
  5. Roy, L.M., Arthk Vicharon Ka itihas (Hindi)
  6. Ganguli, B.N. Indian Economic Thought Nineteenth Century Perspective, Tata McGraw Hill

Publishing Co., New Delhi.

  1. Srivastatva, S.K., History of Economics Thought, S. Chand & Co. Ltd.
  2. Shama Shastri, R., Kautliya’s Arthashastra (Translated), Mysore Printing & Publishing

House, 1995.

  1. Rangrajan, L.N., Kautliya’s Arthashastra, Penguin Classics, 1992.
  2. Nehru, Jawaharlal, Glimpses of World History, Oxford University Press, 1984.
  3. Nehru, Jawaharlal, An Autobiography, Allied Publishers Pvt. Ltd., 1962.
  4. Lohia, Ram Manohar, The Caste System
  5. Lohia, Ram Manohar, Marx, Gandhi and Socialism.
  6. Lohia, Ram Manohar, Economics After Marx (Hindi)
  7. Singh, Ram Binod, India’s Economic Development and Lohia’s Thought.
  8. Kapur, Mastram, Ram Manohar Lohia, Publications Division, New Dolhi
  9. Ranjan, Sudhanshu, Jayaprakash Narayan, National Book Trust.
  10. Ambedkar, B.R., The Evolution of Provisional Finance in British India. 1916
  11. Ambedkar, B.R., Small Holdings in India.
  12. Sahay Sanjay, Leadership and Political Ideas of Babu Jagjivanram, Bharti Pustak Sadan,

                     Patna.

  1. A. ECONOMICS

                        SEMESTER – I

CC- 5: Indian Economy — Issues and Policies —1

Module – 1: Introduction- Indian Economy during British Rule- Commercialization of Agriculture, Process of Industrialization, Composition of Foreign Trade, GNP and Occupation, Trends in National Income Growth & Structure; Physical Quality Life Index (PQLI), Human Development Index (HDI), Nature and Magnitude of Workforce and Inequality, Unemployment and Poverty, Measurement of Inequality and Poverty-Lorenze Curve and Gini Co-efficient, Head —Count Ratio, Poverty Gap Ratio, Sen’s Index .

Module – 2: Agriculture-Performance since Independence – Across Crops and Zones, Institutional Structure — Land Reforms—Farm Size and Productivity, Agriculture Inputs, Technological Change in Agriculture — Sustenance of Agriculture Growth, Agriculture Finance,

 

Credit, Role of Co-operatives, Agriculture Marketing, Pricing, Agrarian Crisis, Food Security, New Agricultural Strategy, 2™ Green Revolution,

Module -3: Industry-Growth and Pattern of Industrial Development- Industrial Stagnation, Trends in Industrial Productivity, Industrial Financing, Industrial Policies — Privatization and Disinvestment, Cottage and Small Scale Industries, Globalisation and Technology Transfer, Need and Impact of 4″ Industrial Revolution

Module -4: Service-Sources of Service Sector Growth- Infrastructure, Physical and Social, Status and Policies -Transport, Energy, Telecommunication, Technology- Information Technology – Research and Development- – Health and Education, Knowledge Revolution & Human Capital Formation.

Module -5: Economic Reforms: Changing Role of State; Globalization of Indian Economy, WTO and its Impact, National agenda for Governance. Issues in Export — Import Policy and Foreign Exchange Management Act (FEMA), Exchange Rate Policy, Foreign Capital and MNCs in India, Trade Reforms in India, Energy Crisis , Micro Financing, Second Generation Reforms, NITI Aayog, Recent Policy Initiatives- DBT,JAM, Cashless Economy &Demonetisation.

BASIC READING LIST

  1. Ahluwalia, I. J. and LM.D. Little (Eds.) 1999), India’s Economic Reforms and Development (Essays in honor of Man Mohan Singh), Oxford University Press, New Delhi.
  2. Bardhan, P.K. (9th Edition) (1999), The Political Economy of Development in India, Oxford University Press, New Delhi.
  3. Bawa, R.S. and P.S.Raikhy (Ed). (1997), Structural Changes in Indian Economy, Guru Nanak Dev University Press, Amritsar.
  4. Brahmananda, P.R. and V.R. Panchamukhi (Eds) (2001), Development Experience in the Indian Economy: Inter-State Perspectives, Bookwell, Delhi.
  5. Chakravarty, S. (1987), Development Planning: The Indian Expenence, Oxford University Press, New Delhi.
  6. Dantwala, M.L.(1996): Dilemmas of Growth: The Indian Experience, Sage Publications, New Delhi.
  7. Kapila, Uma (Ed.), Indian Economy Since Independence. Academic Foundation, New Delhi.
  8. Rangrajan, C., Select Essays on Indian Economy, vol. | & vol. II, Academic Foundation.

 

  1. Datt, Ruddar and Sundharam, K.P.M., Indian Economy, Latest Edition, S.Chand, 2012.
  2. M.I.E. Reports on the Indian Economy.
  3. Publications of Central Statistical Organization.
  4. Publications of National Sample Survey Organization.
  5. Five-Year Plans 11th to 12th Planning Commission, Govt. of India, New Delhi.
  6. Jalan, Bimal (Ed.), Indian Economy: Problems and Prospects, Penguin.
  7. Bhalla, G.S., Indian Agriculture.
  8. Yojana (Monthly Journal)
  9. Kurukshetra (Monthly Journal)
  10. Indian Journal of Agricultural Economics
  11. Srivastava,Mohan Prasad (2014), Vikas Ka Arthashastra evam Ayojan, ANE Publication, New Delhi.
  12. Economic Survey: Different Issues
  13. Bihar Ek Parichaya: Qmar Ahsan & Imtiyaz Ahmed
  14. RBi Publications

                                                           

  1. A. ECONOMICS

   SEMESTER — II

                                     CC- 6: Economics Of Growth and Development-I

 

Module I: Conceptual Framework- Concept of Economic Growth, Economic Development, Economic Progress and Economic Welfare, Current trends- New International Economic Order – International Interdependence and Globalization-Dimensions of Development Gap- Human Development Index- Human Poverty Index- Multi-dimensional Poverty Index- Gender related

Development Indices-Entitlement and Capability Approach, Concept of Inclusive &Sustainable

Growth.

Module II: Structural Transformation of Growth- Rostow‘s stages of growth, Balanced vs Unbalanced Growth, Role of Technology and Capital in Economic Growth, Malthusian Theory of Population, Regional Growth Differences-Poverty &Inequality, Kuznet’s Inverted U Hypothesis.

Module III-Theories of Economic Growth- Kaldor’s growth theory, Classical models of Growth- Adam Smith and Ricardo, Marx and Schumpeter on Development and Future of Capitalism, W.A. Lewis & Renis-Fei Models of Economic Growth, Mahanolobis Model, Harrod-Domar Model, Big —Push Theory.

Module IV-Role of Social Aspect in Growth- Human Capital and Development- The Costs and Benefits of population growth-Simon‘s Challenge, Demographic Dividend The Concept of Optimum Population- Education and Investment in Human Capital, Gender Gap in Development and the Problem of Missing women in the Indian Context-Strategies for Improving Education and Employment- Social Engineering and Inclusive growth.

 

 

 

BASIC READING LIST

  1. Ray Debraj: Development Economics, Oxford, University Press 1999
  2. Meier M. Gerald and Rauch: Leading issues in Economic Development, Oxford University Press. (2000)
  3. A.: Growth and Development with special Reference to Developing Economies, Palgrave Macmillan (2009)
  4. Todaro M_P. D. Smith S.C: Economic development (8 Edition 2005),Person Education, Indian branch, Delhi
  5. Todaro M.P. Economic development in the third Word. (4″ Edition 1991) Longman, Singapore.
  6. Mahendra. S: Inclusive growth in India-collected essays.,Oxford University press, New Delhi (2010)
  7. Chauduri Ray, Jayasri:An introduction to Development and Regional planning with special reference to India. Orient Longman Kolkata (2001)
  8. Yujiro Hayami and Yoshihisa Godo: Development Economics (3 Edn)Oxford University Press (New Delhi)
  9. Vandana Desai and Robert B Potter : The Companion to development studies-II Edn. Ahodder viva edn, Viva books Pvt. Ltd. New Delhi.
  10. UNDP: Human Development Report, 2010
  11. Srivastava,M.P:,Economics of Development and Planning, ANE Publications in Press.
  12. A. ECONOMICS

    SEMESTER – II

CC- 7: Micro Economic Analysis-II

 

Module 1: Alternative Theories of the Firm: Baumol’s Model, Williamson, and Marnes Models, Full Cost Pricing Models, Bain’s Limit Pricing, Behavioural Model of Cyert and March.

Module 2: Distribution: Ricardian and Modern Theories of Rent, Marginal Productivity Theory of Wages, Neo-Classical Theory of Interest, and Theories of Profit, Euler’s Product Exhaustion Theorem, Technical Progress and Factor Shares.

Module 3: Equilibrium Analysis: General Equilibrium-Walrasian Model, Features of Market Equilibrium: Existence, Stability (Marshall and Walrasian Conditions), Uniqueness. Cob-web models.

Module 4: Welfare Economics: Pigovian Welfare Economics, Pareto Optimum Conditions. Social Welfare Functions, Compensation Principles, Arrow’s Impossibility Theorem.

 

 

Module 5: Economics of Risk and Uncertainty: Role of Expectations, Consumer’s Choice

involving Risk (Risk Takers, Risk Averse and Risk Neutral), Neumann — Morgenstern Index,

Savage Hypothesis, Gambling and Insurance.

BASIC READING LIST:

  1. Koutsoyiannis, A: Modern Microeconomics, Macmillan
  2. Ahuja: Advanced Economic Theory,
  3. Pindyck, R.S. and D.L.Rubinfeld: Microeconomics, Pearson Educational
  4. Crystal, R. and A. Lipsey: Microeconomics, Oxford University Press.
  5. Varian, H.R.: Intermediate Microeconomics, W.W. Norton & Co
  6. Krugman, Paul Wells, Robin Microeconomics, Worth Publishers W H FREEMAN & CO.
  7.  
  8. A. ECONOMICS

    SEMESTER – II

                                               CC- 8: Macro Economic Analysis-1

 

Module 1: Post-Keynesian Theories of Demand for Money: Post-Keynesian Approaches to Demand for Money — Patinkin’s Monetary Model- Real Balance Effect, Approaches of Baumol and Tobin, Friedman and the Modern Quantity Theory; Crisis in Keynesian Economics and the Revival of Monetarism .

Module 2: Neo-classical and Keynesian Synthesis: Neo-classical and Keynesian Views on Interest: The IS-LM model- Extension of IS-LM Model with Government Sector, Relative effectiveness of Monetary and Fiscal policies, IS-LM model in Open Economy.

Module 3: Theory of Inflation: Classical, Keynesian and Monetarist Approaches to Inflation; Structural Theory of Inflation, Philips Curve Analysis — Short Run and Long Run Philips Curve; The Natural Rate of Unemployment Hypothesis; Tobin’s modified Philips Curve and Policies to Control Inflation.

Module 4: Business Cycles: Business Cycles — Theories of Schumpeter, Samuelson and Hicks & Kaldor, Interaction of Multiplier and Acceleration Model, Control of Business Cycles – Relative Efficacy of Monetary and Fiscal Policies .

Module 5: New Classical Macroeconomics: The New Classical Macroeconomic Approach- Policy Implications of New Classical Approach — Rational Expectations Theory, Role of Expectations in Macroeconomic Analysis -Adaptive Expectations, Supply Side Economics – Assumptions and Evaluation, Macro Stabilization Policies and Introduction to New Keynesian Economics.

 

BASIC READING LIST

  1. Gordon, R. and S.G. Harris (1998), Macroeconomics, Addison Wesley.
  2. Culbertson, J.M. (1968), Macroeconomic Theory and Stabilization Policy, McGraw Hill, Kogenkosh, Tokyo.
  3. Chakravarty, S.C. (1985), Report of the Committee to Review the Working of the Monetary System, Reserve Bank of India, Bombay.
  4. Gupta, S.B. (1995), Monetary Planning India, Oxford University Press, New Delhi..
  5. Gurley, J. and E.S. Shaw (1960), Moneyin a Theory of finance Brookings Institution, Washington.
  6. Mckinen, G.E. (1978), Money, the Price Level and Interest Rates, Prentice Hall of India, New Delhi.
  7. Reddy, Y.V.(2000), A. Review of Monetary and Financial Sector Reforms in India-A Central Banker’s Perspective, UBSPD, New Delhi.
  8. Fredrman, M. (1956), Studies in the Quantity Theory of Money, the University of Chicago Press, Chicago.
  9. Keynes, J.M. (1936), The General Theory of Employment, Interest and Money, Macmillan, London.
  10. Allen, R.G.D., Macro Economic Theory
  11. Hansen, A.H., A Guide to Keynes
  12. Hansen, A.H., Monetary Theory and Fiscal Policy
  13. Johnson, H., Essays in Monetary Economics
  14. Johnson, H., Further Essays in Monetary Economics
  15. Keynes, J.M., The General Theory of Employment, Interest and Money
  16. Klein L., Keynesian Revolution
  17. Kurihara, K., Introduction to Keynesian Dynamics
  18. Kurihara, K., Monetary Theory and Public Policy
  19. Patinkin, Don., Money, Interest and Prices
  20. CMIE Report: various Issues
  21. Dornbusch, Fisher & Starta- Macroeconomics (TMH)
  22. Shapiro E., Macroeconomic Analysis (Galgotia Publications)
  1. A. ECONOMICS

SEMESTER – II

                                                  CC- 9: Statistical Methods

 

Module 1: Review Methods of Collecting Data – Census and Sampling — Their Advantages and

Disadvantages, Types of Sampling, Measures of Central Tendency — Mean, Median and Mode,

Measures of Dispersion — Range, Quartile Deviation, Mean Deviation, Standard Deviation,

Variance, Coefficient of Variation, Skewness & Kurtosis.

                                                                                                                                                                       

 

Module 2: Review Concept of Correlation- Karl Pearson’s Coefficient of Correlation, Spearman’s Rank Coefficient of Correlation, Partial and Multiple Correlation, Simple Regression- Estimation of Regression- Coefficients by the Method of Least Squares.

Module 3: Review Methods of Constructing Index Numbers and Their Uses, Weighted Index- Laspeyer’s, Pasche’s and Fisher’s Indices, Cost of Living Index Numbers.

Module 4: Concept of Probability- Classical and Empirical Definitions of Probability, Laws of Addition and Multiplication, Conditional Probability and Baye’s Theorem, Mathematical Expectation, Binomial, Poisson and Normal Distribution- Its Concept, Mean and Variance, Properties of Normal Distribution.

Module 5: Concept of an Estimator and Its Sampling Distnbution, Desirable Properties of a

Good Estimator, Formulation of Statistical Hypotheses — Null and Alternative, Types of Errors,

Testing of Hypothesis- Testing for Mean of a Population from Large Sample and Testing for

Difference between Means of Two Population from Large Sample, Use of Z, t, Chi – Square and

F – distributions.

Module 6: Time Series Analysis, Components of Time-Series Data, Determination of Secular      Trend by Moving Average and Ordinary Least Square Methods.

Note: Use of Electronic Calculator will be permitted.

BASIC READINGS LIST:

  1. Gupta, S.P. (2007), Statistical methods, Sultan Chand and Sons, New Delhi.
  2. Nagar, A.L. and Das, R.K. (1983): Basic Statistics 2nd Edition, OUP, Delhi.
  3. Speigal, M.R. (1992), Theory and Problems of Statistics, McGraw Hill Book Co., London.
  4. Jhunjhunwala, Bharat: Business Statistics.
  5. Singh, S.P., Statistics : Theory and Practice (Hindi).
  6. Enhance, D.N. and Veena Enhance: Fundamentals of Statistics.
  7. Monga, G.S., Mathematics and Statistics for Economics.
  8. Agarwal, D.R., Quantitative Methods.
  9. Spiegel, M.R., Theory and Practice of Statistics, Schaum Senes.
  10. Croxton, E.F. and Cowden, D.I. Applied General Statistics, Prentice Hall.