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TRANSCRIPT
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Ch. Bansi Lal University, Bhiwani
Examination Scheme
&
Syllabus
for
M.A.- ECONOMICS
(SEMESTER- I to IV)
(2015-16)
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Scheme of Examination for M.A. -ECONOMICS
Semester-I Credits= 24 Marks=600
Sr.
No.
Paper
Code
Subjects Type
of
Course
Contact Hours Per Week Credit Examination Scheme Total
Theory Practical
/Seminar
Total Theory Practical
/Seminar
Total Theory Internal
Assessment
Practical
/Seminar
1 ECO- 101 Microeconomics-I
C. C 4 -- 4 4 -- 4 80 20 -- 100
2 ECO- 102 Macroeconomics-I
C. C 4 -- 4 4 -- 4 80 20 -- 100
3 ECO- 103 Economics of Growth
and Development
C. C 4 -- 4 4 -- 4 80 20 -- 100
4 ECO- 104 Mathematics for
Economists
C. C 4 -- 4 4 -- 4 80 20 -- 100
5 ECO- 105 History of Economic
Thoughts
C. C 4 -- 4 4 -- 4 80 20 -- 100
6 ECO -106 Communication Skills I.D.C 2 - 2 2 - 2 40 10 -- 50
7 ECO -107 Seminar / Journal Club C.M.C. -- -- -- -- -- 1 -- -- -- 25
8 ECO- 108 Self-Study Paper C.M.C. -- -- -- -- -- 1 -- -- -- 25
Total 22 24 600
C.C. = Core Course I.D.C. = Inter Disciplinary Course C.M.C. = Complementary Course F.C. = Foundation Course
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Scheme of Examination for M.A. -ECONOMICS
Semester-II Credits= 29 Marks=750
Sr.
No.
Paper
Code
Subjects Type
of
Course
Contact Hours Per Week Credit Examination Scheme Total
Theory Practical
/Seminar
Total Theory Practical
/Seminar
Total Theory Internal
Assessment
Practical
/Seminar
1 ECO - 201 Microeconomics-II C.C. 4 -- 4 4 -- 4 80 20 -- 100
2 ECO - 202 Macroeconomics-II
C.C. 4 -- 4 4 -- 4 80 20 -- 100
3 ECO - 203 Issues in Economic
Development
C.C. 4 -- 4 4 -- 4 80 20 -- 100
4 ECO - 204 Statistics for
Economists
C.C. 4 2 6 4 1 5 80 20 50 150
5 ECO -205 Public Economics C.C. 4 -- 4 4 -- 4 80 20 -- 100
6 ECO - 206 Computer Applications
in Economics
I.D.C. 4 4 8 4 2 6 80 20 50 150
7 ECO -207 Seminar/Journal Club C.M.C. -- -- -- -- -- 1 -- -- -- 25
8 ECO -208 Self-Study Paper C.M.C. -- -- -- -- -- 1 -- -- -- 25
Total 30 29 750
C.C. = Core Course I.D.C. = Inter Disciplinary Course C.M.C. = Complementary Course
F.C. = Foundation Course E.C. =Elective Course
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Scheme of Examination for M.A.-ECONOMICS
Semester-III Credits= 28 Marks=700
Sr.
No.
Paper
Code
Subjects Type
of
Course
Contact Hours Per Week Credit Examination Scheme Total
Theory Practical
/Seminar
Total Theory Practical
/Seminar
Total Theory Internal
Assessment Practical
/Seminar 1 ECO301 Money, Banking and Finance C.C. 4 -- 4 4 -- 4 80 20 -- 100
2 ECO302 International Economics C.C. 4 -- 4 4 -- 4 80 20 -- 100
3 ECO303 Basics Econometrics C.C. 4 -- 4 4 -- 4 80 20 -- 100
4 ECO304 Elective-I
(Agricultural Economics)
E.C. 4 -- 4 4 -- 4 80 20 -- 100
5 ECO305 Elective-II
(Economy of Haryana)
E.C. 4 -- 4 4 -- 4 80 20 -- 100
6 ECO306 Energy Economics I.D.C. 4 -- 4 4 -- 4 80 20 -- 100
7 ECO307 Current Economic Affairs C.M.C. 4 -- 4 2 -- 2 40 10 -- 50
8 ECO308 Self Study Paper -- -- -- -- -- 1 -- -- -- 25
9 ECO309 Seminar /Journal Club Club -- -- -- -- -- 1 -- -- -- 25
Total 28 -- 28 26 -- 28 520 130 -- 700
C.C. = Core Course I.D.C. = Inter Disciplinary Course C.M.C. = Complementary Course E.C. = Elective Course
Elective Subjects:
1. Agricultural Economics (Elective I)
2. Economy of Haryana (Elective (II)
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Scheme of Examination for M.A.-ECONOMICS
Semester-IV Credits= 28 Marks=700
Sr.
No.
Paper
Code
Subjects Type
of
Course
Contact Hours Per Week Credit Examination Scheme Total
Theory Practical
/Seminar
Total Theory Practical
/Seminar
Total Theory Internal
Assessment
Practical
/Seminar
1 ECO401 Indian Economy C.C. 4 -- 4 4 -- 4 80 20 -- 100
2 ECO402 Environmental and
Resource Economics
C.C. 4 -- 4 4 -- 4 80 20 -- 100
3 ECO403 Applied Econometrics C.C. 4 -- 4 4 -- 4 80 20 -- 100
4 ECO404 Elective-I
(Industrial Economics)
E.C. 4 -- 4 4 -- 4 80 20 -- 100
5 ECO405 Elective-II
(Labour Economics)
E.C. 4 -- 4 4 -- 4 80 20 -- 100
6 ECO406 Economic Environment
of Business
I.D.C. 4 -- 4 4 -- 4 80 20 -- 100
7 ECO407 Current Economic
Affairs
C.M.C. 4 -- 4 2 -- 2 40 10 -- 50
8 ECO408 Self Study Paper -- -- -- -- -- 1 -- -- -- 25
9 ECO409 Seminar /JournalClub -- -- -- -- -- 1 -- -- -- 25
Total 28 -- 28 26 -- 28 520 130 -- 700
C.C. = Core Course I.D.C. = Inter Disciplinary Course C.M.C. = Complementary Course
E.C. = Elective Course
Elective Subjects:
1. Industrial Economics (Elective-I)
2. Labour Economics (Elective-II)
Duration - 2 Years (4 Semesters)
Total Marks – 2750
Total Credits – 109
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GENERAL INSTRUCTIONS
I. SEMINAR/ JOURNAL CLUB:
Maximum Marks-25
Every candidate will have to deliver a seminar of 30 minutes duration on a topic (not from the
syllabus) which will be chosen by him / her in consultation with the teacher of the department. The
seminar will be delivered before the students and teachers of the department. A three member committee
(one coordinator and two teachers of the department of different branches) duly approved by the
departmental council will be constituted to evaluate the seminar. The following factors will be taken into
consideration while evaluating the candidate. Distribution of marks will be as follows:
1. Presentation 10 marks
2. Depth of the subject matter 10 marks
3. Answers to the questions 05 marks
II. SELF-STUDY PAPER:
MaximumMarks-25
Objective: This course intends to create habits of reading books and to develop writing skills in a
manner of creativity and originality. The students are to emphasis his/her own ideas/words which he/she
has learnt from different books, journals and newspapers and deliberate the same by adopting different
ways of communication techniques and adopting time scheduling techniques in their respective fields.
This course aims:
- To motivate the students for innovative, research and analytical work
- To inculcate the habit of self study and comprehension
- To infuse the sense of historical back ground of the problems
- To assess intensity of originality and creativity of the students
Students are guided to select topic of their own interest in the given area in consultation with their
teachers/Incharge/Resource Person.
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Instructions for Students
1. Choose the topic of your interest in the given areas and if necessary, seek the help of your
teacher.
2. Select a suitable title for your paper.
3. You are expected to be creative and original in your approach.
4. Submit your paper in two typed copies of A4 size 5-6 pages (both sides in 1.5 line spaces in
Times New Roman Font size 12).
5. Organize your paper in three broad steps:
(a) Introductions
(b) Main Body
(c) Conclusions
6. Use headings and sub-headings
7. Use graphics wherever necessary
8. Give a list of books/references cited/used
9. The external examiner will evaluate the self study paper in two ways i.e. Evaluation 15 Marks
and Viva-Voce 10 marks.
Distribution of Marks
1. The evaluation is divided into different segments as under : 15 Marks
(i) Selection of Topic - 3 Marks
(ii) Logical Organization of subject matter - 5 Marks
(iii) Conclusions - 5 Marks
(iv) References - 2 Marks
2. Viva-Voce: 10 Marks
The external examiner will hold Viva-Voce based on contents of the student‟s Self Study Paper
focusing upon the description by the Candidate.
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M.A.-ECONOMICS
SEMESTER-I
ECO-101
Microeconomics-I
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-1
Consumer Behavior and Demand: Nature and Scope of Microeconomics; Positive and Normative
Analysis; Consumer Preferences; Opportunity Sets; Indifference Curve Approaches; Optimum Choices;
Utility Functions; Indirect Utility Demand Functions; Income and Substitution Effects (Hicks and
Slutsky); Normal versus Inferior Goods; Types Of Demand Functions; Elasticity; Welfare Evaluation;
Consumer Surplus; Equivalent and Compensating Variations; Revealed Preference Theory.
Unit-1I
Applying Consumer Behavior Theory and Decision making Under Uncertainty: Substitutes And
Complements, Composite Commodities; Income-Leisure; Linear Expenditure System; Expected Utility
Function, Choice Under Risk, Measures of Risk Aversion; Risk and Insurance; Decision Making under
Uncertainty.
Unit III
Theory of Production and Cost: Production Functions; Types of Production Functions (Cobb-Douglas,
CES, Translog etc.); Marginal Products; Rate of Technical Substitution, Technical Progress; Returns to
Scale; Cost Functions; Derivation of Cost Curves; Economies of Scale and Scope; Profit Maximization;
Cost Minimization; Derivation of Input Demand; Simple Case of a Multiproduct Firm.
Unit IV
Market Structure and Theory of Firm: Perfect competition; Competitive Profit Maximization; Price
and Output Determination in Firm and Industry; Short-run and Long-run Supply, Competitive Market
Equilibrium; Tax Incidence Analysis; Price Controls and Shortages; Imperfect Markets – Monopoly,
Monopolistic Competition and Oligopoly; Monopoly Market Equilibrium; Price Discrimination;
Monopolistic Competition and Bilateral Monopoly; Oligopoly – Non-Collusive Models: Cournot,
Bertrand, Stackelberg and Chamberlin Solutions; Kinked Demand Curve.
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Suggested Readings:
1. Mankiw Gregory N. (1998): Principles of Economics, 3rd Edition, Thomson, 3rd Indian Reprint
(2007).
2. Snyder, Chirstopher and Walter Nicholson, Fundamentals of Microeconomics, Cengage
Learning, India Edition (2010 by South-Western).
3. Pindyck, Robert S., Rubinfel : Micro-Economics, Prentice Hall of India, New Delhi. Daniel, L.
and Gupta, P.L.(2006)
4. Maddala, G.S. and Miler Ellen: Micro-Economic Theory and Applications, Tata McGraw Hill.
(2004)
5. Henderson J M. and R.E. Quandt, Microeconomic Theory : A Mathematical Approach,
McGraw-Hill International Editions, (Tata McGraw-Hill Edition), Third Edition, 1980
6. Boumol,William J. and Blinder : Microeconomics: Principles and Policy, 9th Edition, Alan S.
(2007) Thomson, 1st Indian Edition.
7. Salvatore Dominick (2003) : Microeconomics : Theory and Applications, 4th Edition, Oxford
Univ. Press.
8. Koutsoyiannis, A. (1977) : Modern Micro Economics, McMillan Press, London.
9. Ryan, W.J.L. and Pearce, D.W. : Price Theory, McMillan India, New Delhi. (1977)
10. Ferguson, C.E. and Gould, J.P. : Micro Economic Theory (6th Edition), All India Book Seller.
(1989)
11. Briet, W. and Hochman, H.M. : Readings in Micro Economics, Dryden Press. (Ed.) (1977
12. Jeffrey M Perloff, Microeconomics, Pearson Education, Addison Wesley Longman (Singapore)
Pte. Ltd., Delhi, 2012
13. Lipsey, R.G. and Chrysal, K. Alec “An Introduction to Positive Economics” (OUP)
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M.A.-ECONOMICS
SEMESTER-I
ECO-102
Macroeconomics-I Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Introduction to Macroeconomics and National Income Accounting: Nature and Scope of
Macroeconomics; Measurement of Macroeconomic Variables; measurement of gross domestic product;
income, expenditure and the circular flow; real versus nominal GDP; price indices; national income
accounting for an open economy; balance of payments: current and capital accounts; National income
accounting; Input-Output-System.
Unit- II
Classical, Keynesian Systems of Macroeconomics and Investment theories: Classical
Macroeconomics: Equilibrium Output and Employment, Money, Prices and Interest; wage price
flexibility and full employment equilibrium; The Keynesian System: The Role of Aggregate Demand,
Money, Interest and Income; The Basic IS- LM Model; extension of IS-LM model with government
sector, labour market and variable price level; Investment Function; The Marginal Efficiency of Capital
Approach; Accelerator- Simple & Flexible; Profits Theory; Financial Theory.
Unit- III
Demand for Money and Inflation: Functions of money; quantity theory of money; determination of
money demand; Post Keynesian approaches to demand for money-Tobin (Portfolio balance approach),
Baumol (Inventory theoretic approaches) and Friedman (Restatement of quantity theory of money),
Patinkin‟s real balance effect; derivation of aggregate demand curve and determination of equilibrium
price and output; Basics of Inflation, hyperinflation, Phillips Curve
Unit- IV
Determinants of Money Supply and Real Economy: Measures of money supply; Determinants of
money supply; Central Bank‟s approach to money supply; instruments of monetary and fiscal policy;
Mechanism of Monetary expansion and contraction, deterministic models; Saving, Investment and
Financial System; Consumption and Investment.
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Suggested Reading:
1. Froyen, Richard T, “Macroeconomics: Theory and Policies”, Pearson Education Inc.; 10th
Edition, 2014
2. Mankiw N. Gregory, Principles of Macroeconomics, 6th Edition, CENGAGE Learning, 2012.
3. Olivier Blanchard, Macroeconomics, Pearson Education (Indian Reprint), Inc., 4th edition, 2007.
4. Errol D‟Souza, Macroeconomics, 2st Edition, Pearson Education, 2012.
5. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005.
6. Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Education, Inc., 7th edition,
2011.
7. Hubbard RG and O‟Brien A P, “Macroeconomics”, Pearson‟s Education, 2006
8. Paul R. Krugman, Maurice Obstfeld and Marc Melitz, International Economics, Pearson
Education Asia, 9th edition, 2012.
9. Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.
10. Heijdra, B.J. and V.P. Fredericck (2001), Foundations of Modern Macroeconomics, Oxford
University Press, New Delhi.
11. Shapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New Delhi. Additional
Reading List
12. Lucas, R. (1981), Studies in Business Cycle Theory, MIT Press, Cambridge, Masscechusetts.
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M.A.-ECONOMICS
SEMESTER-I
ECO-103
Economics of Growth and Development Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Concepts & Measurement of Economic Growth and Development
Economic Growth, economic development and sustainable development; Historical Perspective of
Economic Growth and its Relevance, Meaning of Development, Objectives of Development, Structural
Diversity and common characteristics of developing nations.
Unit-II
Classical Theories of Growth and Development
Contributions of Adam Smith, Ricardo, Karl Marx, and Schumpeter, Malthus, Rostow‟s Theory of
Stages of Economic Growth.
Unit-III
Growth Models
Harrod and Domar: Instability of Equilibrium; Neo Classical Growth Models: Solow and Meade;
Growth Models of Joan Robinson, Kaldor and Pasinetti.
Unit-IV
Technological Progress
Embodied and disembodied; Neutral and Non- Neutral (Hicks and Harrod); TFP and growth accounting;
Endogenous Growth Theory: Role of learning, education and Research; Accumulation of Human
Capital; Explanation of Cross-Country Differentials in Economic Growth.
Development of Models: Balanced and Unbalanced growth; Critical Minimum Efforts Theory; Low
Income Equilibrium Trap; Dual Economy: Models of Lewis, Fei-Ranis, Jorgensen, Basic idea of Dixit
and Marglin, Kelly et. al.
Suggested Readings:
1. Adelman, I. (1961), Theories of Economic Growth and Development, Stanford University Press,
Stanford.
2. Barro, R. and X. Salai- Martin, Economic Growth, McGraw Hill, New York.
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3. Behrman, S. and T.N. Srinivasan (1995), Handbook of Development Economics,Vol. 3, Elsevier,
Amsterdam.
4. Brown, M. (1966), On the Theory and Measurement of Technical Change,
Cambridge University Press, Cambridge, Mass.
5. Chakravarti, S. (1982), Alternative Approaches to the Theory of Economic
Growth, Oxford University Press, New Delhi.
6. Chenery, H. and T.N. Srinivasan (Eds.) (1989), Handbook of Development
Economics, Vols. 1 & 2, Elsevier, Amsterdam.
7. Ghatak, S. (1986), An Introduction to Development Economics, Allen and
Unwin, London.
8. Gillis, M., D.H. Perkins, M. Romer and D.R. Snodgrass (1992), Economics of Development,
(3rd Edition), W.W. Norton, New York.
9. Higgins, B. (1959), Economic Development, W.W. Norton, New York.
10. Jones, HG.(1975), An Introduction to Modern Theories of Economic Growth, Nelson, London.
11. Kindleberger, C.P. (1977), Economic Development, (3rd Edition), McGraw Hill, New York.
12. Meier, G.M. and J.E.Rauch (2005), Leading Issues in Economic Development, (8th Edition),
Oxford University Press, New Delhi.
13. Sen, A.K. (Ed.) (1990), Growth Economics, Penguin, Harmondsworth.
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M.A.-ECONOMICS
SEMESTER-I
ECO-104
Mathematics for Economists Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Linear Algebra
Sets ,solutions of linear equations, solutions of quadratic equations, Matrices; Matrix Operations,
Inverse, Cramer‟s Rule for Solving system of Linear equations.
Unit-II
Differential Calculus
Derivatives- partial and total, economic applications, Higher order derivatives, Taylor‟s approximation,
properties of linear homogenous functions, Euler‟s Theorem.
Unit-III
Classical Optimization and Applications
Introduction of Quadratic Forms, unconstrained optimization, constrained optimization with equality
constraints, applications- utility maximization, and cost minimization, profit-output maximization.
Unit-IV
Linear and Non-Linear Optimization
Duality theory, constrained optimization with inequality and non-negativity constraints, Linear
Programming- Formulation, primal and dual, solutions using graphical and simplex methods,
applications from Economics.
Suggested Readings:
1. Aggarwal, S.C. and R.K. Rana. “Basic Mathematics for Economists” (latest edition) V.K.
(India), Enterprises, Delhi.
2. Allen, R.G.D. “Mathematical Analysis for Economists”, Macmillan, 1983.
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3. Chiang, A.C. and K. Wainwright. “Fundamental Methods of Mathematical Economics” McGraw
Hill, 4th
edition, McGraw Hill, New York, 2005.
4. Kandoi, Balwant“Mathematics for Business and Economics with Applications”, Vol. 1,
Himalaya, Mumbai, 2002.
5. Simon, C and L Blume, Mathematics for Economists, Norton, London, 1994.
6. Chiang, A.C., Fundamental Methods of Mathematical Economics, McGrawHill, 1984.
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M.A.-ECONOMICS
SEMESTER-I
ECO-105
History of Economic Thoughts
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Nature and Importance of Economic Thought, mercantilism: Views on Trade, Money and Prices, Wages
and Employment. Physiocracy: Nature order; Net Product and Circulation of Wealth.
Unit-II
Adam Smith: Theories of value, Distribution and Growth; Ricardian Economics: value Analysis,
Theories of Trade and Distribution, Views on Machinery and Employment, Ricardo-Malthus glut
Controversy.
Marxian Economics: From Harmony to Class –Conflict, Historical Materialism and Marx‟s
Interpretation of History, Development and Decay of Capitalism.
Unit-III
Essential features of Marginalism. Jevon‟s theory of Value. Walras‟s Theory of General Equilibrium.
An Overview of Marshall‟s Contribution.
Unit-IV
Indian Economic Thoughts: Kautilya, Narobi , M.N. Roy, B.R. Ambedkar, J.K. Mehta, M.K. Gandhi,
Amartya‟s Sen Capability theory of Welfare.
Suggested Readings:
1. A.K. Dasgupta (1986) : Epochs of Economic Theory, Oxford University Press, New
Delhi.
2. D.C. Collander (Ed.) : Neo-classical Economists.
3. D.P.O. Brien (1975) : The Classical Economists, London, Oxford University Press.
4. Dobb, Maurice (1973) : Theories of Value and Distribution since Adam Smith.
5. E. Mandel (1971) : Marxist Economic Theory, Rupa & Co.
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6. Eric Roll (1992) : History of Economic Thought, Faber and Faber (Rupa).
7. Gide, C. and Rist C. (1948) : A History of Economic Doctrines, George G. Harap & Co.
8. Krishna Bhardwaj (1978) : Classical Political Economy and Rise to Dominance of Supply
and Demand Theories, University Press, India.
9. M. Blaug (1983) : Economic Theory in Retrospect, Vikas Publishing House,
3rd Edition (Cambridge University Pub.).
10. P. Sweezy (1945) : Theory of Capitalist Development, Monthly Review Press.
11. Samuel Hollander (1987) : Classical Economics.
12. Schumpter, J.A. (1954) : History of Economic Thought, Oxford University Press.
13. Tom Bottomore : Dictionary of Marxist Thought, Basic Black Well, 1985.
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M.A.-ECONOMICS
SEMESTER-I
ECO-106
Communication Skills Maximum Marks-50
External Examination-40
Internal Assessment-10
Max. Time- 2 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Human Communication (Theoretical perspective): Its uniqueness, its nature, models of
communication.Types of Human communication. Language, non-verbal communication, logic and
reasoning, lateral thinking. The concept of facilitating: factors, barriers and filters in communication; the
seven C‟s of effective communication . Preparing for interviews, CV/ Biodata. Vocabulary related to
business.
Unit -II
Self communication, interpersonal communication, dyadic communication, small group
communication. Public communication . Mass Communication . Reliability of communication.
Input and Evaluation Processes (Practice): Listening (process, comprehension, evaluation). Reading
(process, comprehension, evaluation). Watching (process, comprehension, evaluation). Email Do‟s and
Don‟ts.
Unit-III
Output and Interaction Processes (Practice): Speech (conversation, interview, group discussion, public
speech). Writing (spontaneous writing, guided writing, creative writing). Organizing ideas (noting,
summary, flow charts, concept maps). Correspondence (personal, business). Managerial Skills; Business
communication at workplace.
Unit-IV
Academic Writing (Theory and practice): Goals and Objectives. Explanation and various terms used in
academic writing Ethics in writing. Structure of documents. Language and grammar. Illustrations and
aids. Writing proposals and instructions. Making presentations. Formatting documents. Drafts and
revisions. Editing. Writing popular journal article. Grammatical accuracy, common grammatical errors
and how to avoid them.
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Suggested Readings :
1. Communicating a social and career focus, K. M. Berko, Andrew D. Wolvyn and Darlyn R.
Wolvyn, Houghton Mifflin Co., Boston (1977)
2. The Craft of Scientific Writing (3rd Edition), Michael Alley, Springer, New York (1996)
3. Science and Technical Writing – A Manual of Style (2nd Edition), Philip Reubens (General editor),
Routledge, New York (2001)
4. Writing Remedies – Practical Exercises for Technical Writing Edmond H. Weiss, Universities Press
(India) Ltd., Hyderabad (2000)
5. Effective Technical Communication, M. Ashraf Rizvi, Tata Mc Graw – Hill Publishing Co. Ltd., New
Delhi (2005)
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M.A.-ECONOMICS
SEMESTER-II
ECO-201
Microeconomics-II Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Alternative Theories of the Firm: Critical evaluation of Marginal Analysis; Baumol‟s Sales Revenue
Maximization model; Williamson‟s model of Managerial Discretion; Marris model of Managerial
Enterprise; Bain‟s Limit Pricing Theory; Behavioral model of the Firm (Cyert and March).
Unit-II
Distribution: Pricing of Factor of Production ( Perfect & Imperfect markets );Elasticity of Technical
Substitution, Technical Progress and Factor Shares; Product exhaustion theorem; Macro theories of
Distribution- Ricardo, Marx, Kalecki and Kaldor.
Unit-III
General equilibrium: Absolute V/s Relative Prices; the Walrasian approach to General Equilibrium,
Existence, Stability and Uniqueness of the Partial Equilibrium, Edgeworth Box, Pareto Efficiency and
Optimality, Money in general equilibrium.
Unit-IV
Welfare Economics: Arrow-Debrew Economy; Welfare theorems- First, Second and Arrows
Impossibility theorem; Social Criteria of Welfare Functions- GNP, Utility, Pareto Optimality,
Compensation, Bergson, Maximization of Social Welfare Function; Rawl‟s theory of Justice; Equity-
Efficiency Trade off.
Suggested Readings:
1. Kreps, David M. (1990), A Course in Microeconomic Theory, Princeton UniversiPress,
Princeton.
2. Koutsoyiannis, A. (1979), Modern Microeconomics, (2nd
Edition), Macmillan Press, London.
3. Lyard, P.R.G. and A.W. Walters (1978), Microeconomic Theory, McGraw Hill, New York.
4. Sen A. (1999), Microeconomics: Theory and Applications, Oxford University Press, New Delhi.
5. Varian, H. (2006), Microeconomic Analysis, W.W. Norton, New York.
6. Mankiw Gregory N. (1998): Principles of Economics, 3rd
Edition, Thomson, 3rd
Indian Reprint
(2007).
7. Henderson J.M. and R.E. Quandt, Microeconomic Theory: A Mathematical Approach, McGraw
Hill International Editions, (Tata McGraw Hill Edition), 3rd
Edition, 1980.
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8. Maddala, G.S. and Miller Ellen: Micro-Economic Theory and Applications, Tata McGraw Hill
(2004).
9. Pindyck, Robert S., Rubinfel: Micro-Economics, Prentice Hall of India, New Delhi. Daniel, L.
and Gupta, P.L.(2006)
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M.A.-ECONOMICS
SEMESTER-II
ECO-202
Macroeconomics-II
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit - I
Open Economy Macro Economics: International Flow of Capital and Goods; Saving and Investment
in a small open economy; Exchange Rates - real and nominal; Markets in Foreign Exchange; Balance of
Payments- Disequilibrium , Mundell-Fleming Model under fixed and flexible exchange rates, Price
Adjustments.
Unit-II
Consumption Function: Absolute Income Hypothesis, Relative Income Hypothesis, Permanent Income
and Life Cycle Hypotheses; Consumption under Uncertainty – Modern approach.
Unit-III
Theory of Business Cycles: Business Cycle Theories: Schumpeter, Kaldor, Samuelson and Hicks;
Control of Business Cycles – relative efficacy of monetary and fiscal policies.
Unit-IV
Recent Developments: Monetarism ; New Classical Macro Economics theories– Rational Expectation
Revolution and Real Business Cycle Theory; New Keynesian Economics - Sticky Nominal prices
(Mankiw Model), Inter-Temporal Substitution in Labour Supply.
Suggested Readings:
1. Ackley, G. (1978), Macroeconomics: Theory and Policy, Macmillan, New York.
2. Blackhouse, R. and A. Salansi (Eds.) (2000), Macroeconomics and the Real World (2 Vols.),
Oxford University Press, London.
3. Branson, W.A. (1989), Macroeconomic Theory and Policy, (3rd Edition), Harper and Row,
New York.
4. Dornbusch, R. and F. Stanley (1999), Macroeconomics, Irwrin McGraw Hill, Inc.New York, 7th
Edition.
5. Heijdra, B.J. and V.P. Fredericck (2001), Foundations of Modern Macroeconomics, Oxford
University Press, New Delhi.
6. Jha, R. (1991), Contemporary Macroeconomic Theory and Policy, Wiley Eastern Ltd., New
Delhi.
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23
7. Romer, D.L. (1996), Advanced Macroeconomics, McGraw Hill Company Ltd., NewYork.
8. Shapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New Delhi.
9. Duesenberry, J. S. (1949) Income, Saving and the Theory of Consumer Behaviour, Harvard
University Press, Harvard.
10. Mankiw, N.G. and D. Romer (Eds.) (1991), New Keynesian Economics, (2Vols.), MIT Press,
Cambridge.
11. Mankiw, N. Greogory (2000), Macroeconomics Macmillan Worth Publishers 4th
Edition.
12. Frisch, H. (1983), Theories of Inflation, Cambridge University Press,Cambridge.
13. Sheffirin, S.M. (1996), Rational Expectations, Cambridge University Press,Cambridge.
14. Lucas, R. (1981), Studies in Business Cycle Theory, MIT Press, Cambridge,Masscechusetts.
15. Taylor, L. (1983), Structuralist Macroeconomics, Basic Books, New Longman.
16. Turnovsky, S.J. (1977), Macroeconomic Analysis and Stabilization Policy,Cambridge
University Press, Cambridge.
17. Ruggles R. and N. Ruggles (1956), National Income Accounts and Income Analysis
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M.A.-ECONOMICS
SEMESTER-II
ECO-203
Issues in Economic Development Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit- I
Concepts & Measurement of Economic Development: Measuring Development: Income Measures,
Basic Needs Approach, PQLI, HDI and Capabilities Approach; Goulet‟s core values of development.
MDG -SDG ; Poverty, Inequality and Development: Measurement and Impact.
Unit-II
Sectoral Aspects of Development: Agriculture: Role of Agriculture in Economic Development;
Heterogeneity in Agriculture; Agricultural Transformation – Schultz Theory, Designing Strategy for
Agriculture Transformation; Industry: Rationale and Pattern of Industrialization in developing
Countries; Choice of Techniques, appropriate technology and employment; Terms of Trade between
Agriculture and Industry. Services- Service Sector in Developing Economies: Role, growth and
sustainability; Infrastructure and its importance.
Unit-III
Trade and Development Experience: International Trade as an Engine of Growth; Static and Dynamic
gains from Trade; Prebisch-Singer Thesis vis-à-vis Free Trade experience of Developing Countries;
Two Gap- Myrdal view; Trade and Policy Debate: Export promotion, Import Substitution and Economic
Integration; Foreign Aid and Fiscal Policy for development.
Unit-IV
State and Economic Development: Roles of Market, State, and Civil Society in Economic
Development; Good Economic Governance and reforms; Development Planning: Financial System &
Macroeconomic Stability, Fiscal Policy for Inclusive Growth.
Suggested Readings:
1. Behrman, S. and T.N. Srinivasan (1995), Handbook of Development Economics, Vol. 3,
Elsevier, Amsterdam.
2. Bhagwati, J. and P. Desai (1970), India: Planning for Industrialization, Oxford University Press,
London.
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3. Brown, M. (1966), On the Theory and Measurement of Technical Change, Cambridge University
Press, Cambridge, Mass.
4. Chakravarti, S. (1982), Alternative Approaches to the Theory of Economic Growth, Oxford
University Press, New Delhi.
5. Chakravarti, S. (1987), Development Planning: The Indian Experience, Clarendon 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 into 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. Snodgrass (1992), Economics of Development,
(3rd Edition), W.W. Norton, New York.
10. Grossman, G. and E. Helpman (1991), Innovation and Growth in the Global Economy, MIT
Press, Cambridge, Mass.
11. Higgins, B. (1959), Economic Development, W.W. Norton, New York.
12. Hirschman, A.O. (1958), The Strategy of Economic Development, Yale University Press, New
York.
13. Kindleberger, C.P. (1977), Economic Development, (3rd Edition), McGraw Hill, New York.
14. Lewis, W.A. (1955), The Theory of Economic Growth, George Allen and Unwin, London.
15. Meier, G.M. and J.E.Rauch (2005), Leading Issues in Economic Development, (8th Edition),
Oxford University Press, New Delhi.
16. Nayyar, D. (Ed.) (1994), Industrial Growth and Stagnation: The Debate in India, Oxford
University Press, New Delhi.
17. Sen,A. (1983), Poverty and Famines, Oxford University Press, Oxford.
18. Sen, A.K.(Ed.) (1990), Growth Economics, Penguin, Harmondsworth.
19. Sen, A. (1992), Inequality Reexamined, Oxford University Press, Oxford.
20. Todaro, M.P. and S.C. Smith (2003), (8th Edition), Economic Development, Pearson Education,
Delhi.
21. Thirlwal, A.P. (1999), (6th Edition), Growth and Development, Macmillan, U.K.
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M.A.-ECONOMICS
SEMESTER-II
ECO-204
Statistics for Economists
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Measures of Central Tendencies: Mean, Median, Mode and Quartiles
Measures of Dispersions: Range, Quartile Deviation, Mean Deviation, Standard Deviation, Variance
and Coefficient of Variation.
Probability and Distribution: Probability: concepts and definition, Laws of Addition and
Multiplication, Binomial, Poisson and Normal Distributions.
Unit-II
Index Numbers: Uses, Laspeyer‟s, Paasche‟s and Fisher Index Numbers; Base shifting, splicing and
deflating of index numbers, cost of living index numbers and consumer price index numbers.
Time Series: Components of time series and their decomposition, Methods of measuring trend, cyclical,
seasonal and irregular variation.
Unit-III
Sampling Methods: Census versus Sample Enumeration, Simple Random, Stratified Random,
Sampling error. Probability and Non-Probability Sampling, Determinants of Sample Size.
Theory of Estimation: Point and Interval Estimation, Properties of Good Estimators-Efficiency,
Unbiasedness and Consistency; Maximum Likelihood Methods; Confidence Intervals.
Unit-IV
Hypothesis Testing: Hypothesis Testing: Statistical Hypothesis- Simple V/S Composite, Critical
Reason, Type I and Type II Errors, Power of a Test, Student t, Chi-Square and F-tests One Way and
Two Way ANOVA.
Correlation: Simple Correlation, Pearson‟s, Spearman‟s Rank Coefficient.
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Suggested Readings:
1. Vohra, N.D. Quantative Techniques in Management, Tata McGraw Hill, New Delhi.
2. Speigal, M.R. Theory and Problems of Statistics, McGraw hill Book, London.
3. Allen, R.G.D. Mathematics Analysis for Economists, Macmillan, 1983.
4. Gupta S.C. and V.K. Kapoor, Fundamentals of Applied Statistics, S. Chand and Sons New Delhi.
5. Croxton, F.E.D. Cowden and S. Kliein, Applied General Statistics, Prentice Hall, New Delhi.
6. Yates, Frank, Sampling Methods for Census and Surveys, Charles, Griffin Co., London.
7. Gupta S.C. Fundamentals of Statistics, Himalaya Publishing House, New Delhi.
ECO-204: Practicum
Statistics for Economists
Maximum Marks-50
Max. Time- 3 hrs.
Practicals:
Systematic tabular summarization of data (before analysis),
Measures of central tendencies,
Measures of dispersions.
Statistical distributions: fitting binomial, Poisson and normal probability distributions to given data.
Testing of hypotheses: Tests of significance (mean, standard deviation),
Chi-squared test for goodness of fit, ANOVA (one way and two-way)
Correlations (Pearson‟s, Spearman‟s rank coefficient)
using calculators and Statistical Package.
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M.A.-ECONOMICS
SEMESTER-II
ECO-205
Public Economics
MaximumMarks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit – I
Efficient Markets, Market Failure & Externalities: Economic Rationale of Mixed Economy; The
Efficient Markets; Natural Monopolies and Market Failure; Non-Existence of Futures Markets and
Market Failure; Asymmetric Information and market Failure; The Problem of Externalities and their
Internalisation; The Coase Theorem.
Unit – II
Theory of Public Goods & Public Choice:Public Goods-Characteristics, Types and Efficient Provision
of Public Goods; Private Provision of Pure Public Goods; Bowen Model, Samuelson Theory; Thompson
Mechanism, Clarke Mechanism, Lindahl- Wicksell Mechanism; Theory of Club Goods.
Unit – III
Taxation: Key Concepts & Theory of Taxation; Efficiency and Equity Principles of Taxation; Incentive
Effects of Taxation on- Labour Supply,Supply of Savings and Risk Taking, Taxation and Investment,
Other Distorting Effects of the Tax System; Tax Incidence – Partial and General Equilibrium Analysis,
Mieszkowski Analysis of Tax Incidence,Keynesian Short Run Model of Tax Incidence, Dynamic Tax
Incidence.
Unit – IV
Public Expenditure & Public Debt: Public Expenditure: Wiseman Peacock Hypothesis, Wagner‟s Law
of Expenditure. Public Debt : Objectives and Sources, Classification and Effects of Public Debt, Burden
Controversy Theories – Classical, Modern and Buchanan thesis; Public Debt and Inflation; Management
and Redemption of Public Debt.
Suggested Readings:
1. Bruce, Neil, “Public Finance”, Addison- Wesley Educational Publishers, Inc.
2. Jones. Philip and Cullis, Jones, “Public Finance and Public Choice- Analytical Perspectives”,
Oxford University Press.
3. Stiglitz, Joseph, “Economics of the Public Sector”, W.W.Norton and Company,New
York/London.
4. Rosen, H.S., “Public finance”, Tata McGraw Hill.
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29
5. McNutt, P.A., “The economics of Public Choice”, Edward Elgar Publishing Inc.
6. Mueller, D.C., “Public Choice- I,II,III” Cambridge university Press, Cambridge.
7. Downs, A., “An Economic Theory of Democracy”, Harper and Row, New York.
8. Musgrave R.A and Peacock A.T., “ Classics in the Theory of Public Finance”, Mcmillan.
9. Boadway, Robin, “Public Sector Economics”, Cambridge, Winthrop Publishers.
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M.A.-ECONOMICS
SEMESTER-II
ECO-206
Computer Application in Economics
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Word Processing: popular word processing packages; MS Word: formatting, graphics, mail-merge;
Spreadsheet: Spreadsheet as DBMS, spreadsheet as graphing: Excel; statistical processing of data;
graphing & summarizing data using excel; pivot tables; Spreadsheet functions: mathematical, statistical
and financial functions.
Unit-II
Information Technology in Business: Internet, Intranet, extranet, types of networks, networking &
sharing, IT Policy and legal framework in India.
E-commerce: meaning, basis and scope, E-business and E-transaction; security issues; E-governance in
India, information system for a business organization, Business models of E-commerce; digital
certificate, digital signature, encryption.
Unit-III
E-payment system: credit cards, e-wallet, e-cash, introduction to secure electronic transaction
(SET).Economics and Banking: need of e-banking, PC Banking, Internet Banking, remote banking,
mobile banking, introduction to cyber-crime and cyber-law.
Management Information System; Data Mining and analytics.
Unit-IV
Data Management Tools: basic concept of data, database tools, Introduction to DBMS: definition, role,
and purpose, advantages of databases, Database design; Statistical functions; statistical functions for
databases; summarizing and analysis of data; a brief introduction to Optimization problems.
Introduction to accounting software: Quicken, Peachtree, etc.
Suggested Readings:
1. Sinha, P.K., Computer Fundamental, BPB Publications, New Delhi.
2. Rajaraman, V. Fundamentals of Computers, Prentice Hall of India, New Delhi.
3. Parameshwaranm R. Computer Applications in Business, S. Chand and Company, New Delhi.
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4. David Whiteley, E-Commerce: Strategy, Technologies and Applications, Tata McGraw Hill,
New Delhi.
5. Goel, Sushil, Computer Application to Business & E-Commerce, Natraj Publishing
House, Karanl.
6. Lipschultz, M.M. and S. Lipschultz , Theory and Problems of Data Processing, Schaum's Outline
Series, McGraw Hill, New York
7. Madan, Sushila, Information Technology, Taxman Allied Services, New Delhi. P.T. Joseph, S.J.,
E-Commerce: An Indian Perspective, PHI Learning, New Delhi.
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ECO-206: Practicum
Computer Application in Economics
Maximum Marks-50
Max. Time- 3 hrs.
Practicals:
1. Practical Including MS word and Mail Merge
2. Graphs and charts in spreadsheet.
3. Graphing and summarizing data using Excel.
4. Data analysis using spreadsheet.
5. Demonstration of Pivot Table.
6. Illustration of statistical functions with spreadsheet.
7. Use of mathematical functions using spreadsheet.
8. Use of statistical functions in spreadsheet
9. Use of financial functions in spreadsheet.
10. To demonstrate layout of accounting Softwares with their working.
11. Gathering economic data from internet and other sources and importing it into excel for analysis.
12. To draw profit graph and loss graph according to economic values given.
13. Illustration of statistical functions in DBMS.
14. To Develop a set of graph on economic subjects using excel or Quattro Pro.
15. To estimate and plot regression lines with the help of spreadsheet.
16. To solve complex systems of equations numerically with the help of spreadsheet. 17. Use of spreadsheet to create large table of simulation data.
18. Using spreadsheet to solve optimization problems.
19. Use excels to track and compare a household budget to a city average.
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M.A.- ECONOMICS
SEMESTER-III
ECO-301
Money, Banking and Finance Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT-I
The Demand for and Supply of Money:
Concept of money, Function and Types of Money; Post-War Controversy on the Definition of Money
and Money Supply – The Theoretical Debate and Empirical Attempts; Demand for Money: The
Classical Quantity Theory of Money, The Keynesian Approach, and Friedman’s Theory; Supply of
Money: Money Creation by the Banking System. High Powered Money and Money Multiplier.Measures
of Money Supply in India.
UNIT-II
Structure of Interest Rates and Monetary Policy:
The Expectations Theory, Liquidity Premium Theory, Market Segmented Theory, Preferred Habitat
Theory; Monetary Policy: Targets, Goals and the Trade Offs Among Alternate Goals, Lags in
Operation, Transmission Mechanism –Classical Model, Keynesian Model and Monetarist Model, Rules
vs. Discretion
UNIT-III
Central and Commercial Banking:
Origin & Evolution, Major Functions & Policy Tools of Central Bank; Central Bank of India - RBI –
Monetary Policy and Autonomy. Commercial Banking: Functions, Major Developments in Commercial
Banking in India since Nationalization; Banking Sector Reforms.
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34
UNIT-IV
Capital Market & Financial Institutions in India:
Capital Market – Growth & Components, Capital Market Reforms and role of SEBI; Structure of
Financial System in India; Development Financial Institutions: QFI, NBFCs in India.
Recommended Readings:
• Bofinger Peter (2001): Monetary Policy: Goals, Institutions, Strategy and Instruments, Oxford
University Press.
• Dennis Geoggrey, E.J. (1981): Monetary Economics, Longman.
• Dinlio, A. Eugene (LatestEdition): Theory and Problems of Money and Banking,
InternationalEdition (Schaum’s Outline Series).
• Fabozzi, F. J. and FrancoModigliani (Fourth Edition)(2009): Capital Markets Institutions and
Instruments, Prentice Hall, New Jersey.
• Government of India: Economic Survey (Recent Issues).
• Howells, Peter and Bain Keith(2002): The Economics of Money, Banking and Finance, Prentice
Hall, Pearson Education Ltd.
• Khanna, Perminder (2005): Advanced Study in Money and Banking Theory and Policy
Relevance in the Indian Economy, Atlantic Publishers, NewDelhi.
• Kulkarni, G. (1999): Modern Monetary Theory, Macmillan, New Delhi.
• Mankiw, N.G. (Fifth Edition)(2008): Macro-economics, Macmillan Worth Publishers, New
York.
• Mohan Rakesh (2009): Monetary Policy in a Globalized Economy – A Practitioner’s View,
Oxford University Press.
• Reserve Bank of India: Various Reports.
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35
M.A.- ECONOMICS
SEMESTER-III
ECO-302
International Economics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT – I
Theories of International Trade:
Theories of Absolute Advantage, Comparative Advantage and Opportunity Costs; Heckscher Ohlin
Theory of Trade, Factor Price Equalization, Empirical Testing of Heckscher Ohlin Theory; Intra-
Industry Trade – Concept, Reasons and Measurement; Product Cycle Theory, Technology Gap.
UNIT – II
Gains from International Trade:
Measurement of gains from trade and their distribution; Concepts of terms of trade, their uses and
limitations; Hypothesis of secular deterioration of terms of trade, its empirical effects of relevance and
policy implications for less developed countries; Theory of interventions (Tariffs, quotas and Non
tariff)-Economic effects of tariffs (Partial and General Equilibrium analysis ) Tariff and Stopler
Samuelson Theorem; Optimum rates of tariffs – their measurement and effective rate of Protection.
UNIT – III
The Balance of Payments and Adjustments Processes:
BOP: Concept, Components and Causes of disequilibrium; The Process of Adjustment Under:
Gold Standard – Species Flow Mechanism, Fixed Exchange Rate – Devaluation, Marshal Lerner’s
Conditions, Keynesian Absorption Approach, J-Curve Effect, Flexible Exchange Rate -Mundell
Fleming Model; Foreign Trade Multiplier.
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UNIT – IV
The International Monetary System and Regionalism:
International Monetary Fund-Working and conditionality clause of International monetary Fund;
Functions and Achievements of GATT/WTO; World Bank and India; Regionalism: Various Forms of
Economic Integration; the Theory of Customs Union, Static and Dynamic effects of a customs union and
free trade area; SAARC, ASEAN, EU.
RECOMMENDED READINGS
• Bhagwati, J N (1998): International Trade: Selected Readings, McMillan University Press.
• Cherunilam, F. (2008): International Economics, The Tata McGraw-Hill Companies, New Delhi.
5th
Ed.
• Clement Mpfister, R L & Rothwell, K J: Theoretical Issues in International Economics, (1967)
Constolete and Company Ltd.
• Ellsworth, P T & Clark Leith (1975): The International Economy, McMillan Press.
• James C and Robert, M Dunn, Jr. (2004): International Economics, John Viley & Sons. Inc.
• Jones, R W & Kenen, P B (2003): Handbook of International Economics, Vol. I, II and III,
Elsevier Amsterdam.
• Krugman P R & Obstfeld Maurice: International Economics- Theory and Policy, (2000)
Addison-Wesley.
• MiaMikic (1998): International Trade, McMillan Press, London.
• Oded Shenkar &Yadong Luo (2004): International Business, John Wiley & Sons Inc.
• Peter H Lindert (1969): International Economics, N J PrincetonUniversity Press.
• Salvatore, Dominick (2004): International Economics, John Viley& Sons Inc.
• Sodersten, B O & Geoffery Reed (1994): International Economics, McMillan, London.
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37
M.A.- ECONOMICS
SEMESTER-III
ECO-303
Basic Econometrics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit – I
Definition, Scope and Methodology of Econometrics; Simple Linear Regression Model; The Method of
OLS Estimates; Assumptions of the SLR Models and the properties of OLS estimators; OLS estimators
of slope coefficient and intercept: derivation and interpretation; Standard deviations and standard errors
of regression coefficients: derivation and interpretation; Statistical significance of OLS estimators:
Hypothesis Testing using t-tests, Coefficient of determination R2
and Correlation Coefficients.
Unit – II
Multiple Linear Regression Model (MLR); Properties of OLS- estimators of MLR with two explanatory
variables; Determination coefficient R2; Adjusted R
2; Testing Hypothesis using t and F –statistics;
Derivation and Interpretation of confidence intervals; General Linear Regression Model, Gauss- Markov
theorem; Functional Forms of Regression Models.
Unit – III
Nature, Test, Consequences and remedial solutions for problems of Heteroscedasticity, Multicollinearity
and Autocorrelation; Generalized Least Square.
Unit – IV
Specification of Regression Variables, Errors of Measurement; Dummy variables: Use of Dummy
Variable, Slope Dummy Variable; The Chow test, Simultaneous Equation Models ; Simultaneous
Dependence of Variables and Consequences ; Simultaneous Bias ; the problem of Identification; Rules
of Identification- Order and Rank Conditions ; Implications of the Identification State of Model
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Recommended Readings:
• Amemiya, T. (1985), Advanced Econometrics, Harvard University Press,Cambridge,
• Englewood Cliffs, New Jersey. Johnson J. (1991), Econometric Methods, MCGraw Hall Book
Co. London Kmenta J. (1998), Elements of Econometrics, University of Michigan
Press,NewYork.
• Goldberger, A.S. (1998), Introductory Econometrics, Oxford University Press, New York.
• Gujarati, D.N. (1995), Basic Econometrics (2nd Edition) MC Graw Hill NewDelhi.
• Intrilligator, M.D. (1978), Econometric Methods, Techniques and Applications,Prentice Hall.
• Koutsoyiannis, A. (1977), Theory of Econometrics, The Macmillan Press Ltd.London
• Maddala G.S.(Ed) (1993), Econometric Methods and application, Aldershot U.K.,
• Mass. Baltagi, B.H. (1988), Econometrics, Springer, New York.
• Pindyck R.S. and D.L. Rubinfield (1976), Econometric Models and Economic Forecasts,
MCGraw Hill Kogakusha Tokyo
• Theil H. (1981), Introduction to Econometrics, Prentice Hall of India, New Delhi.
• Wooldridge, J. (5th
edition, 2014), Introductory Econometrics- A Modern Approach, South
Western Cengage Learning
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39
M.A.- ECONOMICS
SEMESTER-III
ECO-304
Agricultural Economics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT-I
Introduction:
Nature and Scope of Economics of Agriculture; Specificities of Farm Organisation and Agricultural
Production and Markets; Inter-sector Linkages of Agriculture [Backward and Forward Linkages and
Feedback Effects]. Place of Agriculture in Indian economy. Barriers to Agriculture.
UNIT-II
Agricultural Production, Productivity and Risk :
Agricultural Production- Resource use and efficiency; Factor combination and resource substitution,
Inter-regional variation in growth of output and productivity, Cropping pattern shifts ; Farm Budgeting
and cost concepts; Resource use efficiency in traditional agriculture; Technical change , Labour
absorption and gender issues in agricultural services; Nature and Types of risks and uncertainties in
agriculture.
UNIT-III
Agricultural Transformation:
Schultz Theory of Transformation of Traditional Agriculture;
Mellor’s Model of Agricultural Development;
Hayami-Ruttan Induced Innovation Model of Agricultural Development.
Agricultural Transformation: Indian perspective.
UNIT IV
Agriculture and Globalization:
The New Economic Policy and Indian Agriculture: Main Features of International Trade in Agricultural
Commodities, Agriculture in GATT Negotiations and WTO; Recent Developments in Indian
Agriculture Policy.
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40
Recommended Readings:
• Basu, K.Agrarian Structure and Economic Under Development
(HarwoodAcademic,London,1980).
• Bhalla G.S.andY.K.Alagh Performance of Indian Agriculture - a district-wise Study.
• Dantwala, M.L. (ed.) Indian Agricultural Development since Independence.
• Donner,Peter:Land Reforms and Economic Development.
• Frankel, Francis, R India's Green Revolution, Economic Gain and Political Costs
(OUPBombay1971).
• Ghatak Subrata and Ken Ingersent : Agriculture and Economic Development, Harvestor Press
Ltd., London. 1984
• Ghatak, S.andKenIngersentAgricultureandEconomic Development.
• Government of India: Five Year Plan, (Latest), Planning Commission, Government of India,
New Delhi.
• Government of India: National Agricultural Policy, Ministry of Agriculture, Government of
India, New Delhi. (Latest).
• Hayami, Y and Rattan, V.M. Agricultural Development: An Inter- national Perspective.
• Lehman,Davir(ed)AgrarianReformandAgrarian reforms in India.
• Lekhi R.K. & Singh Joginder, Agricultural Economics, Kalyani Publishers, New Delhi.
• MetacalfD.TheEconomicsof Agriculture.
• RudraAshokIndianAgriculturalEconomics: MythandRealties (AlliedPub.NewDelhi1982).
• Sadhu,A.N. and A Singh, Agricultural Problems in India (Himalaya Publishing House, Bombay).
• Schult,T.Z.Transforming TraditionalAgriculture(Yale University Press,1964).
• Soni, RN. Leading Issues in Agricultural Economics (Sohan Lal Nagin Chand Co.Jalandhar,
2006.)
• World Bank: Rejuvenating Indian Agriculture, Washington, World Bank, 2006
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M.A.- ECONOMICS
SEMESTER-III
ECO-305
Economy of Haryana Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
Unit-I
Geographical, Economic and Social features of Haryana:
Goegraphical Features & Natural Resources of Haryana ( Major Divisions, Climate, Rainfall, Land &
Soil, Minerals etc.); Economic Structure & Inter-sectoral Linkages, Recent trends in sectoral output,
employment & inter sectoral transactions; Social & Demographic features : main religious communities,
social groups/ categories (Gen,OBC,SC), Growth of Population, Sex Ratio, Trends in Urbanisation,
Work Participation Rate (male & female), Development profile of Haryana (trends in SDP, Per Capita
Income, HDI, Literacy Rate, Life Expectancy etc).
Unit-II
Agriculture in Haryana:
Growth and Productivity ; Critical assesment of Green Revolution Strategy; Diversification of
Agriculture: Need, Scope & Constraints; Environmental Issues & Sustainable Agriculture Development,
Access to Credit; Indebtedness among Farmers, Optimal Size of Land Holdings, Collective and Contract
Farmings.
Unit-III
Industry and Services in Haryana
Growth and Pattern, Types & Spatial Distribution, Issues and Challenges to Balanced Regional
Industrialisation, Small Scale and Agro Industires: Status and Problems
Service sector in Haryana: growth and heterogenity (Modern, Impersonal & Traditional services),
Physical and Social Infrastructure; Energy, Transport & Communication, Health & Education
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Unit-IV
State Finances:
Sources of Revenue & Pattern of Expenditure, Fiscal Management in Haryana- a critical Appraisal,
Haryana’s Development Experience: Regional, Social and Gender Disparities; Critical assesment of
State Devlopment Policies; Challenges and Perspectives on Inclusive Devlopment of states.
Recommended Readings
• Edger M. Hoover: An Introduction to Regional Economics, Alfred A. Knopt, New York
• D.R. Choudhary (2007), Haryana At Cross Roads: Problems and Prospects National Book
Trust, India, New Delhi.
• S.P. Gupta, Three Decades of Haryana Economy, S P Publications, 144, Shivalik Enclave (NAC)
Manimajra – 160101
• Ministry of Finance; Government of Haryana: Haryana Statistical Abstract (various issues)
• Ministry of Finance; Government of Haryana: Economic Survey (various Issues)
• Planning Commission, Govt. of India (2009): Haryana Development Report, Govt. of India, New
Delhi.
• Various research papers and research studies.
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M.A.- ECONOMICS
SEMESTER-III
ECO-306
Energy Economics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT – I
Fundamental Concepts of Energy:
Meaning and Concepts of Energy; Significance of Energy- Definition, Nature, Scope and Importance;
Different sources of Energy- Renewable and Non Renewable; economic importance of Non Renewable
Energy; Commercial and Non Commercial Energy Sources; Current Challenges in Energy Market
UNIT-II
Demand and Supply of Energy:
Energy demand, estimating demand for energy- price and income elasticity- complementarity/
substitutability issues- demand estimation under administered pricing regimes; future demand for
energy; energy supply and the economics of depletable resources: renewable and non renewable sources
of energy, energy intensity and elasticity, drivers of world energy demands, trends in energy supply and
consumption; world oil market and energy security and geopolitics; economic efficiency vs equity
considerations- pricing under supply constrained framework
UNIT-III
Energy - Environment Interaction:
Energy crisis- causes and consequences, Impact of Energy Consumption on Environment- Focus on
CO2 Emission Cap, Energy Modeling in context of Climate Change, Fuel, Technology at Local,
National & International level, Carbon Market
UNIT-IV
Energy Conservation & Management:
Energy Efficiency, Conservation as an Energy Resource; Factors affecting Conservation; Public Utility
Regulation; Energy Auditing; Accounting, Peak Load Pricing and Taxes, Economic Regulation of
Energy Market; Energy Planning and Policy in India; Key Development in India’s Energy Policy and
Planning in context of Energy, Efficiency and Environmental concern; Role of Economists in promoting
Sustainable Energy Management.
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Recommended readings :
• Aggarwal, M.C. and Monga, J.R., Economics and Commercial Geography (National Publishing
House, New Delhi, 1992).
• Aggarwal, S.K., Environmental and natural resources Economics (Scott Foresman & Co.
London, 1985).
• Bhattacharyya, S.C.(2011). Energy Economics: Concepts, Issues, Markets and Governance.
Springer-Verlag: London, UK.
• Bohi, D.P. 1981, Analyzing Demand Behavior- A study of Energy Elasticity, John Hopkins
University Press.
• Dahl, C.A. (2004). International Energy Markets: Understanding Pricing, Policies, and
Profits.Penn Well Corporation: Tusla, Oklahoma.
• Kneese, A.V and Sweeny, J.L., Handbook of Natural Resources and Energy.
• Thomas, Tietenbur. Environmental and Natural Resources Economics, Seventh Edition, Boston
(2006).
• U.Shankar, Public Sector Pricing: Theory and Applications, Indian Economic Association, Trust
for Research and Development, 1992.
• Vijay, Vaitheeswaran, (2001), A bright future of Survey of Energy, the economists.
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45
M.A.-ECONOMICS
SEMESTER-III
ECO-307
Current Economic Affairs
Maximum Marks: 50
Theory Examination: 40
Internal Assessment: 10
Time: 3 hrs
Note: There shall be ten questions in all. Two questions will be asked from each unit. Student will
have to attempt one question from each unit. Each question shall carry equal marks.
Objective: This course aims to develop business analytics skills among the students
Unit-I: Current Affairs in Business Industry
Unit-II: Current Affairs in Human Resources
Unit-III: Current Affairs in Finance
Unit-IV: Current Affairs in Economics
Unit-V: Current Affairs in Marketing
Instructions for Examiner:
1. This paper will be based on the leading economics newspapers: „The Economic Times‟.
2. The duration of the course will be June to November for Semester-I and December to May for
Semester-II.
3. Examiner is required to set two questions from Each Unit with equal marks from the respective
unit, i.e. 08 marks. A question may carry „n‟ number of sub-parts, depends on Examiner‟s
discretion.
4. The student shall attempt one question from each unit.
Suggested Readings:
1. The Economic Times
(2015-16)
46
M.A.-ECONOMICS
SEMESTER-IV
ECO-401
Indian Economy
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT – I
Growth and Structural Changes in the Indian Economy:
State of the Indian Economy since Independence: National Income, sectoral contribution and
occupational distribution; Need, features and impact of Economic Reforms in India; Present Challenges
of Indian Economy.
UNIT II
Sectoral Growth:
Agriculture: Pattern of Growth of Indian Agriculture since 1950; Green Revolution, Sustainabilty in
Indian Agriculture; Food Security - Problem and Policy Options, Agricultural Finance and marketing;
Industry: Industrial growth since independence; Industrial Policy in pre and post reform period,; Impact
of New Economic Policy on Indian Industry, Ends and Issues; National Manufacturing Policy 2011;
New Policy Initiatives.
Service Sector: Growth and composition of service sector in India.
UNIT III
External Sector:
Foreign Trade- volume, composition and direction; Trade Policy during Post Reform Period; Problems
of Balance of Payments; Convertibility of rupee; Growth of FDI, SEZs.
UNIT IV
Fiscal and Financial Sector:
Fiscal Federalism- Centre State financial relations, Fiscal reforms
Financial sector reforms, growth of capital market and associated problems.
Recommended Readings:
Acharya Shankar and Rakesh Mohan (Eds.) :( 2011) India‟s Economic Performance and
Challenges: in Honour of Montek S Ahluwalia, New Delhi, Oxford University Press.
Ahluwalia, I J (1985) : Industrial Growth in India, Oxford University Press,New Delhi
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47
Ahluwalia, I.J. & Little, IMD (Eds.) (2008) : India‟s Economic Reforms & Development
(Essays in Honour of Manmohan Singh), Oxford University Press, New Delhi
Brahmananda, P R and Panchamukhi, V R (Eds.) :( 2001) Development Experience in the Indian
Economy: Inter-State Perspectives, Bookwell, Delhi.
Brahmananda, P R and Panchmukhi, V R (eds.): (1987) The Development Process of Indian
Economy, Himalya Publishing House, Bombay.
Byres, T J (Ed.) (1998) : The Indian Economy: Major Debates since Independence; Oxford
University Press, New Delhi.
Derez, J and Amartya Sen (2002): India Development and Participation, Oxford University
Press, New Delhi.
Economic and Political Weekly: Various Issues.
Government of India : Economic Survey (Annual), Ministry of Finance,
Jalan , B (1992) : The Indian Economy - Problems and Prospects, Viking, New Delhi
Kapila, Uma (2012-13): Indian Economy since Independence, Academic Foundation, New
Delhi.
Krueger, A.O. (Ed) (2002) : Economic Policy Reforms and the Indian Economy, Oxford
University Press, New Delhi
Lucas, E B & Papanek, G F (Eds) (1988) : The Indian Economy- Recent Development and
Future Prospects, Oxford University Press, New Delhi
New Delhi
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48
M.A.-ECONOMICS
SEMESTER-IV
ECO-402
Environmental and Resource Economics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT-I
Issues in Environmental Economics:
An introduction to environmental economics, economy-environment interaction, market failure,
property rights, open access resources, collective action, environment and development trade-off –
environmental Kuznets‟s curve
UNIT-II
Environmental Valuation Methods:
Types of values: Use, Option and non-use values, Classification of Valuation Methods, Stated
Preference Methods, Revealed Preference Methods, Travel cost method, Hedonic Property value and
Hedonic wage methods.
UNIT-III
Depletable and Renewable Resources
Depletable Resources: Efficient interpertemporal Allocations, Market allocation and Environmental
costs, Renewable Resources; transitioning to renewable such as hydroelectric power, wind, Solar
Energy, Bio Fuels etc.
UNIT-IV
Economics of Pollution control:
Trans boundary pollution policies, Global Warming and climate change; Environmental policy-
Command and Control versus market mechanisms; Uncertainty and instrumental choice; regulatory
compliance and enforcement; Eco-taxes and other fiscal measures.
Recommended Readings:
U.Shankar, Public Sector Pricing: Theory and Applications, Indian Economic Association, Trust
for Research and Development, 1992.
Baumol, W.J, and W.E. Oates, The Theory of Environmental Policy, Cambridge
Freeman, A. M., The Measurement of Environmental and Resource Values, 2nd
Hanley, N., J.F. Shogren, and B. White, Environmental Economics: In Theory and
• Kolstad, C., Environmental Economics, Oxford University Press, 2000 Edition, Resources for the
Future, 2003 Practice, Macmillan India Ltd., 1997 University Press, 1988.
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49
M.A.-ECONOMICS
SEMESTER-IV
ECO-403
Applied Econometrics
Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT I
Simultaneous Equation Methods:
Recursive Models and Ordinary Least Squares, Method of Indirect Least Squares (ILS), the Instrumental
Variables, the method of Two Stage Least Squares (2SLS), Three Stage Least Squares (3SLS) Bias and
Estimation of Standard Err ors of Estimators, Applications.
UNIT II
Dynamic Econometric Models: The Role of Time or Lag in Economics, The reasons for Lags,
Estimation of Distributed Lag Models, the Koyck Approach to Distributed Lag Model, The Almon or
Polynomial Distributed Lag Models.
UNIT III
Time Series Models:
Key Concepts: Stochastic Process; Stationarity and Non- Stationarity Process , Purely Random Process,
Random Walk Models, Spurious Regression, Unit Roots, ARIMA, GARCH,VAR, Dicky-Fuller Test,
Co-integration, Granger Causality, Error Correction Models.
UNIT I V
Qualitative Variable Models and Panel Data Models:
The Nature of Qualitative Response Models- The Linear Probability Model- The Logit Model-Probit
Model- Tobit Model – the Poisson Regression Model.
Panel Data Regression Analysis: Panel Data, Unobserved Heterogeneity Problem. Pooled Regressions.
Fixed Effect Regressions. Within-groups Regression Models. First Differences Regression Models.
Least Squares Dummy Variables (LSDV) egression models, Random effect regressions.
References:
1. Damodar Gujarathi “Basic Econometrics”, Tata McGraw Hill Ltd, 1999.4th Ed.
2. William H. Greene “Econometric Analysis,” Pearson Education.
3. A.Koutsoyiannis, “Theory of Econometrics: An Introductory Exposition of Econometric Methods”,
Educational Low-Priced Books Scheme, McMillan Education Ltd., (1992)...ls2.
4. Dr. M. Upender, “Applied Econometrics,” Vrinda Publications (P) Ltd.
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50
M.A.-ECONOMICS
SEMESTER-IV
ECO-404
Industrial Economics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT I
Framework of Industrial Economics:
Concept, history and scope; Concept and organisation of a firm – ownership, control and objectives;
Passive and Active behaviour of the firm; Emergence of Modern Corporates: characteristics & dominant
position. Theories of Industrial Location: Weber and Sargent Florence; Factors affecting industrial
location.
.
UNIT II
Market Structure:
Determinants of the growth of the firm, Theory and Evidence; Market Structure: seller‟s concentration,
product differentiation, Entry conditions, Economies of Scale, Market structure and Profitability; Market
Structure and Innovation.
UNIT III
Product Pricing- Public and Private Sector; Methods of Project Evaluation, Mergers and Acquisitions (
M&A‟s ) and Diversification.
UNIT-IV
Public Policy and Industrial Finance:
Public Policy for Industrial development in India since Independence – a critique; Pattern of Industrial
growth and changes in industrial structure; Industrial Finance in India: role, nature, volume and types of
institutional finance – IDBI, IFCI, SFCS, Commercial Banking, Assessment of financial soundness.
Recommended Readings:
Ahluwalia, I.J. (1985), Industrial Growth in India, Oxford University Press, New Delhi.
Barthwal, R.R. (1985), Industrial Economics, Wiley Eastern Ltd. New Delhi.
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Cherunilam, F. (1994), Industrial Economics: Indian Perspective (3rd
Edition), Himalaya Publishing
House, Mumbai.
Desai, B. (1999), Industrial Economy in India (3rd
Edition), Himalaya Publishing House, Mumbai.
Divine, P.J. and R.M. Jones et. al. (1976), An Introduction to Industrial Economics, George Allen
and Unwin Ltd., London.
Government of India, Economic Survey (Annual).
Hay, D. and D.J. Moris (1979), Industrial Economics: Theory and Evidence, Oxford University
Press, New Delhi.
Kuchhal, S.C. (1980), Industrial Economy of India (5th
Edition), Chaitanya Publishing House,
Allahbad.
Reserve Bank of India, Report on Currency and Finance (Annual).
Shy, Oz., Industrial Organization: Theory and Applications, MIT Press, 1995.
Tirole, J., The Theory of Industrial Organization, MIT Press, 1988.
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52
M.A.-ECONOMICS
SEMESTER-IV
ECO-405
Labour Economics Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT-I
Labour Markets:
Nature and characteristics of labour markets; Operation of the labour market under different market
structures, Mobility and productivity of labour; Demand for Labour in relations to size and pattern of
investment; Discrimination in the Labour Market; Supply of labour in relation to growth of labour force;
The Theory of Human Capital.
UNIT-II
Employment:
Employment and developing relationship- Poverty and unemployment in developing countries;
Unemployment- Concept, Types and Measurement; Technological Change and Modernisation of
Employment in Organised private Industry; Employment in Public Sector Industry; analysis of educated
unemployment.
UNIT- III
Wage Determination:
Marginal Productivity Theory; Classical, neo-classical and bargaining theories of wage determination;
Concepts of Minimum Wage and Fair Wage and living wage; Wage Determination in – Organised-
Unorganised Sector; Bonus System and Profit Sharing.
UNIT- IV
Labour Force in India:
Structure of Industrial Labour; Globalisation and Labour; Gender Dimensions of industrial labour;
Industrial Disputes Act, 1947 and Factories Act, 1948. Industrial relations- Trade Union, Workers
participation in management and Collective Bargaining; Exit Policy and Safety Nets; National
Commission on Labour Reports.
Recommended Readings:
Deshpande L.K. and J.C. Sandesara, (Eds.), (1970), Wage Policy and Wages Determination in
India, Bombay University Press, Bombay.
Gokarn, Sen&Vaidya (2003): The Structure of Indian Industry, OUP
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53
Hajela, P.D. (1998), Labour Restructuring in India: A Critique of the New Economic Policies,
Commonwealth Publisher, New Delhi.
Harmonds worth.Das, N. (1960), Unemployment, Full Employment and India, Asia Publishing
House, Bombay.
Hicks J.R. (1932), The Theory of Wages, Clarendon Press, Oxford.
Lester, R.A. (1964), Economics of Labour, (2nd Edition), Macmillan, New York.
Mazumdar, D. (1989), Micro-economic Issues of Labour Markets in Developing Countries, EDI
Services Paper No. 40, World Bank, Washington D.C.
McConnell, C.R. and S.L. Brue (1986), Contemporary Labour Economics, McGraw-Hill, New
York.
McCormickm B. and Smith (Eds.)(1968), The Labour Market, Penguin,
Memoria, C.B. (1966), Labour Problems and Social Welfare in India, Kitab Mahal, Allahbad.
Misra, L. (2000), Child Labour in India, Oxford University Press, New Delhi.
Papola, T.S., P.P. Ghosh and A.N. Sharma (Eds.) (1993), Labour, employment andindustrial
Relations in India, B.R. Publishing Corporation, New Delhi.
Punekar, S.D. (1978), Labour Welfare, Trade Unionism and Industrial Relations, Himalaya
Publishing House, Bombay
Riveros, L. (1990), Labour Market Policies and Labour Market Reforms in Socialist Economies,
World Bank, Washington D.C.
Singh V.B. (Ed.) (1970), Industrial Labour in India, Popular Parakashan, Bombay.
Venkata Ratnam, C.S. (2001), Globalization and Labour-Management Relations: Dynamics of
Change, Sage Publications/Response Books, New Delhi.
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54
M.A.-ECONOMICS
SEMESTER-IV
ECO-406
Economic Environment of Business Maximum Marks-100
External Examination-80
Internal Assessment-20
Max. Time- 3 hrs.
Note: There shall be nine questions in all. Question no. 1 shall be compulsory, consisting of eight
short answer type questions covering the entire syllabus. Two questions will be asked from each unit.
Student will have to attempt one question from each unit. Each question shall carry equal marks.
UNIT-I
Business Environment:
Cultural, social, political, technological, economic and legal environment -scanning-techniques of
environmental forecasting -SWOT –Internal environment and their impact on policy formulation.
UNIT-II
Economic reforms in India: Liberalization, Privatization and globalization Competitive Strength of Indian industry -Impact of
liberalization policy on different sectors –Foreign Investments policy in India. Multinational
corporations -Their participation in India –Their strategies, competitive strengths policies and
performance.
UNIT-III
Industrial Policies:
A brief review of industrial policies since independence, Industrial policy of 1991 and recent
developments, Policy on foreign direct investment in Indian industry. Fiscal Policy: Public revenues,
public expenditure, public debt, development activities financed by public expenditure, an evaluation of
recent fiscal policy of Government of India –Monetary Policy: Demand for and supply of money,
Objectives of monetary and credit policy, recent trends- Role of Finance Commission. Integration of
World‟s economies and its impact on Indian Business.
UNIT-IV
International Environment:
MNC, foreign collaborations and Indian Business. NRI and corporate sector, World Bank, IMF and
India. World as a global village. WTO–its impact: trade barriers, TRIPS, TRIMS. Public sector and
private sector, Development Banks, Economic reforms, SAP. Changing dimensions of various industries
in India.
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Recommended Readings:
Francis Cherunilam: Business Environment -Text & Cases, Himalayan Publishing House,
Mumbai.
Gupta, Liberalisation -Its Impact on Indian Economy, Macmillan.
K.V.Sivayya and VBM Das: Indian Industrial Economy, Sultan Chand Publishers, Delhi.
Kazhmi Azhar, Business Policy, TMH.
M. Adhikari: Economic Environment of Business, Sultan Chand & Sons, New Delhi.
Pandey G.N., Environmental Management, Vikas Publishing House.
Prof. Laxmi Narain: Globalization, Liberalization and Privatization of Public Enterprises, Sultan
Chand & Co, New Delhi.
Suresh Bedi: Business Environment, Excel, New Delhi.
Wheelen, Concepts of Strategic Management and Business Policy, Pearson Education, New
Delhi
William Gluck & L R Jauch, Business Policy & Strategic Management, McGraw-Hill New
Delhi.
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M.A.-ECONOMICS
SEMESTER-IV
ECO-407
Current Economic Affairs
Maximum Marks: 50
Theory Examination: 40
Internal Assessment: 10
Time: 3 hrs
Note: There shall be ten questions in all. Two questions will be asked from each unit. Student will
have to attempt one question from each unit. Each question shall carry equal marks.
Objective: This course aims to develop business analytics skills among the students
Unit-I: Current Affairs in Business Industry
Unit-II: Current Affairs in Human Resources
Unit-III: Current Affairs in Finance
Unit-IV: Current Affairs in Economics
Unit-V: Current Affairs in Marketing
Instructions for Examiner:
1. This paper will be based on the leading economics newspapers: „The Economic Times‟.
2. The duration of the course will be June to November for Semester-I and December to May for
Semester-II.
3. Examiner is required to set two questions from Each Unit with equal marks from the respective
unit, i.e. 08 marks. A question may carry „n‟ number of sub-parts, depends on Examiner‟s
discretion.
4. The student shall attempt one question from each unit.
Suggested Readings:
1. The Economic Times