b.a. (hons.) economics course structure under cbcs
TRANSCRIPT
B.A. (Hons.) Economics COURSE STRUCTURE under CBCS Guideline
(w.e.f Session 2018 – 19)
SEMESTER - I
CODE SUBJECT
EVALUATION SCHEME
CREDIT
Periods INTERNAL
ESE TOTAL L T P MT TA TOTAL
BAECC01 Introductory Microeconomics 5 1 0 20 20 40 60 100 6
BAECC02
Mathematical Methods for
Economics I 5 1 0 20 20 40 60 100 6
BAEAECC01 Environmental Science 2 0 0 20 20 40 60 100 2
BAEGE01
Economic History of India
(1857-1947) 5 1 0 20 20 40 60 100 6
BAEP01 Comprehensive viva 0 0 2 0 0 0 0 100 2
TOTAL 500 22
SEMESTER - II
CODE SUBJECT
EVALUATION SCHEME
CREDIT
Periods INTERNAL
ESE TOTAL L T P MT TA TOTAL
BAECC03
Introductory Macroeconomic
Analysis 5 1 0 20 20 40 60 100 6
BAECC04
Mathematical Methods for
Economics II 5 1 0 20 20 40 60 100 6
BAEAECC02 General English 2 0 0 20 20 40 60 100 2
BAEGE02 International Economics 5 1 0 20 20 40 60 100 6
BAEP02 Term Paper Presentation 0 0 2 0 0 0 0 100 2
TOTAL 500 22
INTRODUCTORY MICROECONOMICS
Course Code: BAECC01 Course Credit: 6
Course Description
This course is designed to expose the students to the basic principles of microeconomic
theory. The emphasis will be on thinking like an economist and the course will illustrate how
microeconomic concepts can be applied to analyze real-life situations. Course Outline
Module I: Exploring the subject matter of Economics
Why study economics? Scope and method of economics; the economic problem: scarcity
and choice; the question of what to produce, how to produce and how to distribute output;
science of economics; the basic competitive model; prices, property rights and profits;
incentives and information; opportunity cost; economic systems Module II: Demand and Supply: How Markets Work, Markets and Welfare
Meaning and Definition of demand/supply; determinants of individual demand/supply; Law
of demand/supply; demand/supply schedule and demand/supply curve; market versus
individual demand/supply; movement in demand/supply curves; shifts in the demand/supply
curve, market equilibrium. Concept & measurement of elasticity of demand/supply;
elasticity and its application; controls on prices; taxes and the costs of taxation; consumer
surplus; producer surplus and the efficiency of the markets.
Module III: The Households
The consumption decision - budget constraint, consumption and income/price changes,
demand for all other goods and price changes; Description of preferences (representing
preferences with indifference curves); properties of indifference curves; consumer‘s
optimum choice; Income and Substitution effects; Labour supply and savings decision -
choice between leisure and consumption. Module IV: The Firm and Perfect Market Structure
Behaviour of profit maximizing firms and the production process; Short-run production/output
and cost functions; Long-run production/output and cost functions. Introduction to perfect
competition and its features Module V: Imperfect Market Structure
Introduction to Monopoly and anti-trust policy; government policies towards competition;
imperfect information Module VI: Input Markets
Labour and land markets - basic concepts (derived demand, productivity of an input,
marginal productivity of labour, marginal revenue product); demand for labour; input
demand curves; shifts in input demand curves; competitive labour markets; and labour
markets and public policy.
References:
1. N. Gregory Mankiw (2007), Economics: Principles and Applications, 4th edition,
India edition by South-Western, a part of Cengage Learning, Cengage Learning India
Private Limited, ISBN-13:978-81-315-0577-9 (hereafter Mankiw, 2007, 4e).
2. Karl E. Case and Ray C. Fair (2007), Principles of Economics, 8th edition, Pearson
Education Inc., ISBN 81-317-1587-6.(hereafter Case & Fair, 2007, 8e).
3. Joseph E. Stiglitz and Carl E. Walsh (2006), Economics, International Student
Edition, 4th Edition, W.W. Norton & Company, Inc., New York, ISBN 0-393-92622-2.
(hereafter, Stiglitz & Walsh, 2006, 4e)
MATHEMATICAL METHODS FOR ECONOMICS–I
Course Code: BAECC02 Course Credit: 6
Course Description
This is the first of a compulsory two-course sequence. The objective of this sequence is to
transmit the body of basic mathematics that enables the study of economic theory at the
undergraduate level, specifically the courses on microeconomic theory, macroeconomic
theory, statistics and econometrics set out in this syllabus. In this course, particular economic
models are not the ends, but the means for illustrating the method of applying mathematical
techniques to economic theory in general. The level of sophistication at which the material is
to be taught is indicated by the contents of the prescribed textbook.
Course Outline
Module I - Preliminaries
Logic and proof techniques; sets and set operations; relations; functions and their properties;
number systems. Module II - Functions of one real variable
Graphs; Elementary types of functions: quadratic, polynomial, power, exponential, logarithmic;
Sequences and series: convergence, algebraic properties and applications; Continuous functions:
characterizations, properties with respect to various operations and applications; Differentiable
functions: characterizations, properties with respect to various operations and applications;
Second and higher order derivatives: properties and applications Module III - Single-variable optimization
Optimization: finding maximum and minimum values; Local and global optima; Geometric
properties of functions: convex and concave functions, their characterizations and
applications; Economic applications of functions and derivatives – Cost, revenue, demand
and supply functions, profit maximization, elasticity
Module IV - Integration of functions
Basic rules of integration; Areas under curves; Indefinite Integrals; Definite Integrals;
Applications in Economics and Business
Module V - Difference equations First Order difference equations – Linear first order homogenous difference equation and non-homogenous equations
References:
Sydsaeter, K. and Hammond, P. (2002). “Mathematics for Economic Analysis”. Pearson
Educational Asia, Delhi.
Renshaw, G.(2010). “Maths for Economics”. 2nd edition, Oxford University Press
ENVIRONMENTAL SCIENCE
Course Code: BAEAECC01 Course Credit: 2
CONTENTS
Module I
Ecosystems: Definition, principles and scope of Environmental Science, Ecosystem- Structure
and function of ecosystem (Abiotic and Biotic factors); Energy flow in an ecosystem. Earth,
Man and Environment, Pathways in eco-system. Environmental Problems: global warming and
Climate change, ozone layer depletion. Deforestation, acid rain; impacts of environmental
disturbances.
Module II
Natural Resources and Biodiversity: Energy resources: Renewable and non-renewable energy
sources. Biodiversity patterns and global biodiversity hot spots, India as a mega-biodiversity
nation; Endangered and endemic species of India, Threats to biodiversity, Conservation of
biodiversity: In-situ and Ex-situ conservation of biodiversity.
Module III
Environmental Pollution, Impact and Management: Environmental pollution: Air, water, soil
and noise pollution; Marine, Radioactive and Thermal pollution. Nuclear hazards and human
health risks, Solid waste management: Control measures of urban and industrial waste.
Environment Protection Act and International agreements: Montreal and Kyoto protocols and
Convention on Biological Diversity (CBD). Introduction to Carbon footprint and its impacts on
environment.
Module IV
EIA and EMS: Environmental Impact Assessment (EIA) and Environmental Management
System (EMS): Introduction to EIA, its Impact, Notification of MOEF, Introduction to ISO 9000
and 14000.
Module V
Indian Environmental Laws: Introduction to Indian Environmental laws: Legal framework:the
Indian Penal Code, Role of Judiciary in Environmental Protection, Wild Life (Protection) Act,
1972, Water (Prevention and Control of Pollution) Act, 1974, Environment Protection Act
1986, The Forest (Conservation) Act, 1980, Hazardous Wastes (Management and Handling)
Rules, 1989, Air (Prevention and Control of Pollution) Act, 1981
References:
1. Carson, R. (2002). Silent Spring. Houghton Mifflin Harcourt.
2. Gadgil, M., & Guha, R. (1993). This Fissured Land: An Ecological History of India. Univ.
of California Press.
3. Gleeson, B. and Low, N. (eds.) (1999). Global Ethics and Environment, London, Routledge.
4. Groom, Martha J., Gary K. Meffe, and Carl Ronald Carroll (2006). “Principles of
Conservation Biology”. Sunderland: Sinauer Associates.
5. Grumbine, R. Edward, and Pandit, M.K. (2013). Threats from India’s Himalayadams.
Science, 339: 36-37.
7. McCully, P. (1996). Rivers no more: the environmental effects of dams (pp. 29-64).
ZedBooks.
ECONOMIC HISTORY OF INDIA (1857-1947)
Course Code: BAEGE01 Course Credit: 6
Course Description
This course analyses key aspects of Indian economic development during the second half of
British colonial rule. In doing so, it investigates the place of the Indian economy in the wider
colonial context, and the mechanisms that linked economic development in India to the
compulsions of colonial rule. This course links directly to the course on India’s economic
development after independence in 1947. Course Outline
Module 1
Introduction to Colonial India
Overview of colonial economy- Meaning of colonialism, Revolt of 1857, Satyagraha, British
rule and India’s under-development, Partition and Religion
Module 2
Macro Trends
National Income, Poverty, Real wages, Population, Labour force and occupational structure.
Module 3
Agrarian structure and land relations
Agrarian Structure- Economic feature, Social feature, Impact of British Rule on Agriculture
sector, Land tenure system- Zamindari, Mahalwari, Ryotwari, Consequences of Land tenure
system on Agrarian Structure, Agrarian peasants movements after 1857 mutiny,Irrigation.
Agricultural markets and institutions – credit, commerce and technology, trends in performance
and productivity, famines and environment.
Module 4
Railways and Industry
Railways: the de-industrialization debate, the rise of modern industrial sector and growth of
entrepreneurship, traditional industries, supply of Industrial Labour, evolution of entrepreneurial
and industrial structure; nature of industrialization in the inter-war period; constraints to
industrial breakthrough; labor relations.
Module 5
Economy and State in the Imperial Context
The imperial priorities and the Indian economy; drain of wealth; international trade, capital
flows and the colonial economy – changes and continuities; government and fiscal policy.
References:
1. Tirthankar Roy, 2011, The Economic History of India 1857-1947, Oxford University
Press, 3rd edition.
2. Lakshmi Subramanian, 2010,“History of India 1707-1857”, Orient Blackswan.
3.AK Bagchi, 1976, Deindustrialization in India in the nineteenth century: Some theoretical
implications, Journal of Development Studies.
4. SumitGuha, 1991, Mortality decline in early 20th century India‘, Indian Economicand
Social History Review (IESHR), pp 371-74 and 385-87.
6. B.R. Tomlison, 1975, India and the British Empire 1880-1935, IESHR, Vol.XII.
7. Dharma Kumar, The Fiscal System, CEHI, Chapter 12.
8. C.A. Bayly, 1987, Indian Society and the making of the British Empire, The New Cambridge
Eco History of India. Orient Longman.
INTRODUCTORY MACROECONOMICS
Course Code: BAECC03 Course Credit: 6
Course Description
This course aims to introduce the students to the basic concepts of Macroeconomics.
Macroeconomics deals with the aggregate economy. This course discusses the preliminary
concepts associated with the determination and measurement of aggregate macroeconomic
variable like savings, investment, GDP, money, inflation, and the balance of payments. Course Outline
Module I: Introduction to Macroeconomics and National Income Accounting
Concept of Macro Economics; Basic issues studied in macroeconomics; 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. Module II: Money
Functions of money; quantity theory of money; determination of money supply and
demand; credit creation; tools of monetary policy. Module III: Inflation
Inflation and its social costs; hyperinflation.
Module IV: The Closed Economy in the Short Run
Classical and Keynesian systems; simple Keynesian model of income determination; IS-LM
model; fiscal and monetary multipliers. References:
1. Dornbusch, Fischer and Startz (2010), Macroeconomics, 11th edition, McGraw Hill. 2. N. Gregory Mankiw (2013). Macroeconomics, 8th edition, Worth Publishers. 3. O. Blanchard (2009). Macroeconomics, 5th edition, Pearson Education, Inc. 4. Richard T. Froyen (2005). Macroeconomics, 2nd edition, Pearson Education Asia. 5. Andrew B. Abel and Ben S. Bernanke (2014). Macroeconomics 8th edition, Pearson
Education, Inc. 6. Paul R. Krugman, M. Obstfeld and M. Melitz (2012). International Economics, 9th
edition, Pearson Education Asia.
7. Economic Survey: http://indiabudget.nic.in/vol2_survey.asp
MATHEMATICAL METHODS IN ECONOMICS - II
Course Code: BAECC04 Course Credit: 6
Course Description
This course is the second part of a compulsory two-course sequence. This part is to be taught
in Semester II following the first part in Semester I. The objective of this sequence is to
transmit the body of basic mathematics that enables the study of economic theory at the
undergraduate level, specifically the courses on microeconomic theory, macroeconomic
theory, statistics and econometrics set out in this Syllabus. In this course, particular
economic models are not the ends, but the means for illustrating the method of applying
mathematical techniques to economic theory in general. The level of sophistication at which
the material is to be taught is indicated by the contents of the prescribed textbook. Course Outline
Module I - Difference and differential equations
First Order difference equations – Linear first order homogenous difference equation and non-
homogenous equations; Differential equations
Module II - Linear algebra
Vector spaces: algebraic and geometric properties, scalar products, norms, orthogonality; Linear
transformations: properties, matrix representations and elementary operations; System of linear
equations: properties of their solution sets; Determinants: characterization, properties and
applications
Module III - Functions of several real variables
Geometric representations: graphs and level curves; Differentiable functions:
characterizations, properties with respect to various operations and applications; Second
order derivatives: properties and applications; Implicit function theorem, and application to
comparative statics problems; Homogeneous and homothetic functions: characterizations
and applications Module IV - Multi-variable optimization
Geometric properties of functions: convex and concave functions, their characterizations,
properties and applications; Further geometric properties of functions: quasiconvex
functions, their characterizations, properties and applications; Unconstrained optimization:
geometric characterizations, characterizations using calculus and applications; Constrained
optimization with equality constraints: geometric characterizations, lagrange characterization
using calculus and applications; Properties of value function: envelope theorem and
applications References:
Sydsaeter, K. and Hammond, P. (2002). “Mathematics for Economic Analysis”. Pearson
Educational Asia, Delhi
GENERAL ENGLISH
Course Code: BAEAECC02 Course Credit: 2
Module 1
Introduction: Introduction to Communication, Purpose of Communication, Theory of
Communication, Types and modes of Communication, Barriers to Communication and measures
to overcome them.
Module 2
Language of Communication: Verbal and Non-verbal communication, Spoken and Written
communication, Personal, Social and Business communication, Barriers to communication and
Strategies to overcome them, Expressions and words to be avoided, Usage of Jargons; Different
types of communications- Intra-personal, Inter-personal and Group communication. Strategies
for Effective Communication, Strategies to avoid miscommunication
Module 3
Listening and Speaking Skills: Introduction to different types of Speeches-Monologue, Dialogue,
Public Speech, Group Discussion and Personal Interview; Usage of Idioms and Phrases,
Difference between speaking, talking and communication.
Module 4
Reading and Understanding: Types of reading- Close Reading, Comprehension; Analysis and
Interpretation, Translation (from Indian language to English and vice-versa),
Literary/Knowledge Texts; Fill in the blanks, Error spotting, Vocabulary enhancement.
Module 5
Writing Skills: Writing Summary, Paraphrasing of sentences, Documenting, Report Writing,
Making notes, Letter writing, Application writing, Essay writing, Resume writing, Using MS
Word.
References:
1. Fluency in English (2006). Part II, Oxford University Press.
2. Business English, (2008). Pearson.
3. Language, Literature and Creativity (2013). Orient Blackswan.
4. Gauri Mishra, Dr Ranjana Kaul, Dr Brati Biswas (2016). Language through Literature,
Primus books
INTERNATIONAL ECONOMICS
Course Code: BAEGE02 Course Credit: 6
Course Description
This course develops a systematic exposition of models that try to explain the composition,
direction, and consequences of international trade, and the determinants and effects of trade
policy. It then builds on the models of open economy macroeconomics developed in courses 08
and 12, focusing on national policies as well as international monetary systems. It concludes
with an analytical account of the causes and consequences of the rapid expansion of
international financial flows in recent years. Although the course is based on abstract
theoretical models, students will also be exposed to real-world examples and case studies.
Course Outline
Module I: Introduction to International Economics
What is international economics about? An overview of the world trade.
Module II: Theories of International Trade
Absolute Advantage Theory, Comparative Advantage Theory, Opportunity Cost Theory
and Heckscher-Ohlin models; New trade theories; the international location of
production; firms in the global economy — outsourcing and multinational enterprises. Module III: International Trade Policy
Instruments of trade policy - Tariffs and Non-Tariff Barriers; political economy of trade
policy – Custom Unions and Free Trade Areas; controversies in trade policy. Module IV: International Macroeconomic Policy
Foreign Exchange Markets; Exchange Rates - Fixed versus flexible exchange rates,
determination of Exchange Rates; International Monetary Systems; Financial
Globalization and Financial Crises. References:
1. Paul Krugman, M. Obstfeld, and M. Melitz (2012). International Economics: Theory and
Policy, 9th edition, Addison-Wesley (Pearson Education Indian Edition). 2. Dominick Salvatore (2011). International Economics: Trade and Finance, 10th
edition, John Wiley International Student Edition.
SEMESTER - III
CODE SUBJECT
EVALUATION SCHEME
CREDIT
Periods INTERNAL
ESE TOTAL L T P MT TA TOTAL
BAECC05 Intermediate Microeconomics I 5 1 0 20 20 40 60 100 6
BAECC06 Intermediate Macroeconomics I 5 1 0 20 20 40 60 100 6
BAECC07 Statistical Methods for
Economics
5 1 0 20 20 40 60 100 6
BAESE01 Entrepreneurial Skills 4 0 0 20 20 40 60 100 4
BAEGE03 Money & Banking 5 1 0 20 20 40 60 100 6
BAEP03 Summer Training Report &
Viva Voce
0 0 2 0 0 0 0 100 2
TOTAL 600 30
SEMESTER - IV
CODE SUBJECT
EVALUATION SCHEME
CREDIT
Periods INTERNAL
ESE TOTAL L T P MT TA TOTAL
BAECC08 Intermediate Microeconomics II
5 1 0 20 20 40 60 100 6
BAECC09 Intermediate Macroeconomics II 5 1 0 20 20 40 60 100 6
BAECC10 Introductory Econometrics 5 1 0 20 20 40 60 100 6
BAESE02 Introductory Research Methods 4 0 0 20 20 40 60 100 4
BAEGE04 Public Economics 5 1 0 20 20 40 60 100 6
BAEP04 Seminar on Emerging Trends 0 0 2 0 0 0 0 100 2
TOTAL 600 30
INTERMEDIATE MICROECONOMICS - I
Course Code: BAECC05 Course Credit: 6
Course Description
The course is designed to provide a sound training in microeconomic theory to formally
analyze the behaviour of individual agents. Since students are already familiar with the
quantitative techniques in the previous semesters, mathematical tools are used to facilitate
understanding of the basic concepts. This course looks at the behaviour of the consumer and
the producer and also covers the behaviour of a competitive firm.
Course Outline
Module I: Consumer Theory
Choice under risk and inter-temporal choice: describing risk; preferences toward risk; reducing
risk; the demand for risky assets. Revealed Preference: Assumptions and axioms;
decomposition of substitution and income effects and derivation of demand curve
Module II: Production, Costs and Perfect Competition
Perfectly competitive market; profit maximization; marginal revenue, marginal cost and
profit; choosing output in the short run; short run market supply curve; choosing output in the
long run; the industry’s long run supply curve - constant, increasing and decreasing cost
industry; analysis of competitive markets: consumer surplus; producer surplus and the
efficiency of the markets; minimum prices; price support and production quotas.
Module III: Imperfect Market Structure
Monopoly and sources of monopoly power; barriers to entry; price and output determination in
short run and long run; equilibrium of a multiplant monopoly; price discrimination; the social
cost of monopoly power; government regulation of monopoly prices, measures of monopoly
power. Monopolistic Competition features; Chamberlin’s theory of monopolistic competition;
short run and long run equilibrium; excess capacity; selling costs and firm’s equilibrium.
Oligopoly: features; equilibrium in an oligopolistic market; Duopoly models of oligopoly:
Cournot’s model; Stackelberg’s model; Bertrand’s model; Edgeworth’s model.
Module IV: Input Markets
Demand for Inputs; Labour markets and land markets; Basic concepts - derived demand,
productivity of an input, marginal productivity of labour (MPL); marginal revenue product
(MRP); demand for labour; input demand curves; shifts in input demand curves; competitive
labour markets; and labour markets and public policy.
References: 1. Hal R. Varian (2010). Intermediate Microeconomics: A Modern Approach, 8th edition,
W.W. Norton and Company/Affiliated East-West Press (India). The workbook by Varian and Bergstrom may be used for problems.
2. C. Snyder and W. Nicholson (2010). Fundamentals of Microeconomics, Cengage
Learning (India).
3. B. Douglas Bernheim and Michael D. Whinston (2009). Microeconomics, Tata McGraw-
Hill (India).
INTERMEDIATE MACROECONOMICS – I
Course Code: BAECC06 Course Credit: 6
Course Description
This course introduces the students to formal modeling of a macro-economy in terms of
analytical tools. It discusses various alternative theories of output and employment
determination in a closed economy in the short run as well as medium run, and the role of
policy in this context. It also introduces the students to various theoretical issues related to an
open economy.
Course Outline
Module I: Aggregate Demand and Aggregate Supply Curves
Derivation of aggregate demand and aggregate supply curves; interaction of aggregate
demand and supply Module II: Inflation, Unemployment and Expectations
Concept of Inflation; Inflation – Unemployment Trade off and Phillips curve; Unemployment
rate and natural rate of unemployment hypothesis; labour market; Adaptive expectations and
rational expectations; Meaning and Characteristics of Trade Cycles; Hawtrey’s Pure Monetary
Theory of Trade Cycles; Hayek’s Over-investment Theory of Trade Cycles
Module III: IS-LM Approach
The goods market (real sector) and the IS curve; the money market (monetary sector) and
the LM curve; interaction of the real and monetary sector of the economy; Derivation of IS-
LM model; The ISLM model: Keynesian and Neoclassical version. Goods and money
market equilibrium. Elasticity and shifts of IS and LM schedules and their Implications for
Equilibrium. IS-LM model with government sector; Policy analysis in a Keynesian model;
Policy analysis in a neoclassical model; The role and relative effectiveness of fiscal and
monetary policy.
Module IV: Open Economy Models
Mundell-Fleming model; Small open economy models under Floating exchange rates and
Fixed exchange rates; exchange rate determination; purchasing power parity; asset market
approach; Dornbusch's overshooting model; monetary approach to balance of payments;
international financial markets.
References:
1. Dornbusch, Fischer and Startz (2010). Macroeconomics, 11th edition, McGraw Hill. 2. N. Gregory Mankiw (2010). Macroeconomics, 7th edition, Worth Publishers. 3. Olivier Blanchard (2009). Macroeconomics, 5th edition, Pearson Education Inc. 4. Steven M. Sheffrin (1996). Rational Expectations, 2nd edition, Cambridge University Press. 5. Andrew B. Abel and Ben S. Bernanke (2011). Macroeconomics, 7th edition, Pearson Education, Inc.
STATISTICAL METHODS FOR ECONOMICS
Course Code: BAECC07 Course Credit: 6
Course Description
This is a course on statistical methods for economics. It begins with some basic concepts and
terminology that are fundamental to statistical analysis and inference. It then develops the
notion of probability, followed by probability distributions of discrete and continuous
random variables and of joint distributions. This is followed by a discussion on sampling
techniques used to collect survey data. The course introduces the notion of sampling
distributions that act as a bridge between probability theory and statistical inference. Course Outline
Module I - Introduction and Overview
Distinction between population and sample, between population parameters and sample
statistics; Measures of central tendency and dispersion; Population moments and their
sample counterparts Module II - Elementary Probability Theory
Sample spaces and events; Probability axioms and properties; Counting techniques; Conditional
probability, Bayes’ theorem. Module IV - Random Variables and Probability Distributions
Defining random variables; Expected value; Probability distributions - discrete and
continuous distributions - Uniform, Binomial, Poisson and Normal distribution Module V - Random Sampling and Jointly Distributed Random Variables
Density and distribution functions for jointly distributed random variables; computing
expected values; Covariance and correlation coefficients
Module VI - Sampling
Principal steps in a sample survey; Methods of sampling; the role of sampling theory;
properties of random samples Module VII - Estimation
Point estimates; Interval estimates – basic concepts; Interval estimates and confidence
intervals; Interval Estimates using the t distribution References:
1. Devore, Jay. L. (2010). “Probability and Statistics for Engineers”. Cengage Learning. 2. Freund, John. E. (1992). Mathematical Statistics, Prentice Hall.
3. Larsen, R.J. and Morris L. Marx (2011). An Introduction to Mathematical Statistics
and its Applications, Prentice Hall. 4. William G. Cochran (2007) Sampling Techniques, John Wiley
ENTREPRENEURIAL SKILLS
Course Code: BAESE01 Course Credit: 4
Course Description
It provides exposure to the students to the entrepreneurial cultural and industrial growth so as to
prepare them to set up and manage their own small units.
Course Outline
Module 1
Economic Development and entrepreneurship: Concept. Social and Psychological Factors in
entrepreneurship; Characteristics, Qualities and Pre-requisites of entrepreneurs, Types of
Entrepreneur, New generation Entrepreneurs-Social Entrepreneurship, Tourism
Entrepreneurship, Health Entrepreneurship, Women Entrepreneurship, Edu-preneurship.
Module 2
Entrepreneurial motivation- Maslow’s Theory, Mc Gragor’s theory, Culture & Society, values ,
Risk taking behaviour. Environment factors affecting entrepreneurship, institutional finance and
Entrepreneurship, Relationship between enterprise and operating Environment, Local mobility of
entrepreneurs, Creativity –Innovation and Inventions, Skills of Entrepreneur- Decision making
and Problem solving.
Module 3
Different aspect of entrepreneurial organization and performance of entrepreneurial skills,
Collective Bargaining and negotiation skills, Role of Government organizations – Make in India,
skill India, NSDC, PMKVY.
Module 4
Entrepreneurship, training Preparation and Development Programmes. Evaluating
entrepreneurial development programmes. Developing support system- Organisation Assistance,
MSME Act, Carry on Business License,, National small Industries Corporation(NSIC), Financial
assistance to MSME-SIDBI, SSIDC.
Module 5
Planning and Monitoring entrepreneurship. Entrepreneurs before independence and
entrepreneurial growth after independence under planning system. Introduction to Acts- Sale of
Goods Act 1950, Factories Act, 1948, Environment Protection act, 1986, Industries Development
Act, 1951
References:
1. Kuratko, D.F. & Rao T.V. (2012). Entrepreneurship: A South Asian Perspective. Cengage
2. Zimmerer T.W. and Scarborough N. M. (2013), “Essentials of Entrepreneurship and
Small Business Management. PHI
MONEY AND BANKING
Course Code: BAEGE03 Course Credit: 6
Course Description
This course exposes students to the theory and functioning of the monetary and financial sectors
of the economy. It highlights the organization, structure and role of financial markets and
institutions. It also discusses interest rates, monetary management and instruments of monetary
control. Financial and banking sector reforms and monetary policy with special reference to
India are also covered.
Course Outline
Module 1: Money - Concept, Functions, Measurement, Theories of Money Supply
Determination
Concept, functions, classification and measurement of money; theories of money supply
determination; Money Supply Analytics: High Powered Money and Money Multiplier, Demand
for Money
Module 2: Financial Institutions, Markets, Instruments and Financial Innovations
a. Role of financial markets and institutions; problem of asymmetric information – adverse
selection and moral hazard; financial crises.
b. Money and capital markets; Organization, structure and reforms in India; Role of financial
derivatives and other innovations.
Module 3: Interest Rates
Determination, Sources of interest rate differentials; Theories of term structure of interest rates;
Interest rates in India, Base Rate System.
Module 4: Banking System
a. Balance Sheet and Portfolio Management.
b. Indian Banking System: Changing role and structure; Banking Structure in India, Banking
sector reforms; Basel III in International and Indian Context.
Module 5: Central Banking and Monetary Policy
Functions, Balance Sheet Goals, Targets, indicators and instruments of monetary control;
Monetary management in an open economy, current monetary policy of India.
References
1. Mishkin, F.S. and Eakins, S. G. (2009). Financial Markets and Institutions, 6th edition,
Pearson Education
2. Fabozzi, F.J., Modigliani, F., Jones, F. J. and Ferri, M. G. (2009). Foundations of Financial
Markets and Institutions, 3rd edition, Pearson Education
3. Bhole, L.M. and Mahukud, J. (2011). Financial Institutions and Markets, 5th edition, Tata
McGraw Hill
4. Khan, M.Y. (2011). Indian Financial System, 7th edition, Tata McGraw Hill.
5. Various latest issues of R.B.I. Bulletins, Annual Reports, Reports on Currency and Finance
and Reports of the Working Group, IMF Staff Papers.
INTERMEDIATE MICROECONOMICS - II
Course Code: BAECC08 Course Credit: 6
Course Description
This course is a sequel to Intermediate Microeconomics I. The emphasis will be on giving
conceptual clarity to the student coupled with the use of mathematical tools and reasoning.
It covers general equilibrium and welfare, imperfect markets and topics under information
economics.
Course Outline
Module I: General Equilibrium and Efficiency
Existence and uniqueness of equilibrium; stability of equilibrium; dynamic equilibrium
with lagged adjustment; the Cobweb Model; Equilibrium and efficiency under exchange
and production; general equilibrium in competitive product market
Module II: Welfare Economics
Criteria of social welfare; Pareto Optimality conditions; compensation principal (Hicks-
Kaldor criterion, Scitovsky paradox); The Bergson-Samuelson criterion: the social
welfare function, Arrow’s impossibility theorem; grand utility possibility frontier Module III: Market Structure and Game Theory
Monopoly; pricing with market power; price discrimination; peak-load pricing; two-part
tariff; monopolistic competition and oligopoly; game theory and competitive strategy. Module IV: Market Failure
Externalities; marginal cost of pricing; public goods and private goods; markets with
asymmetric information: adverse selection, moral hazards, social choice, government
inefficiency
References: 1. Hal R. Varian (2010). Intermediate Microeconomics: A Modern Approach, 8th edition,
W.W. Norton and Company/Affiliated East-West Press (India). The workbook by Varian and Bergstrom may be used for problems.
2. C. Snyder and W. Nicholson (2010). Fundamentals of Microeconomics, Cengage
Learning (India).
INTERMEDIATE MACROECONOMICS - II
Course Code: BAECC09 Course Credit: 6
Course Description
This course is a sequel to Intermediate Macroeconomics I. In this course, the students are
introduced to the long run dynamic issues like growth and technical progress. It also
provides the micro-foundations to the various aggregative concepts used in the previous
course.
Course Outline
Module I: Economic Growth Models
Harrod-Domar model; Basic Solow Model and Kaldor growth models; the Golden Rule of
Capital Accumulation; technological progress and Elements of Endogenous Growth theory
– the Rudimentary A-K Model. Module II: Microeconomic Foundations
a) Consumption: Keynesian consumption function; Fisher‘s theory of intertemporal choice and
budget constraint; life-cycle and permanent income hypotheses; rational expectations and
random-walk of consumption expenditure.
b) Investment: Determinants of Business Fixed Investment; Residential Investment and
Inventory Investment.
c) Demand for Money: Portfolio Investment and Transactions theories of money demand;
Baumol-Tobin Model of Cash Management
Module III: Fiscal and Monetary Policy
Active or passive; objectives and targets of monetary policy; rules versus discretion: time
consistency; the government budget constraint; government debt and Ricardian equivalence. Module IV: Schools of Macroeconomic Thoughts
Classicals; Keynesians; New-Classicals and New-Keynesians schools
References:
1. Dornbusch, Fischer and Startz (2010). Macroeconomics, 11th edition, McGraw Hill. 2. N. Gregory Mankiw (2010). Macroeconomics, 7th edition, Worth Publishers. 3. Olivier Blanchard (2009). Macroeconomics, 5th edition, Pearson Education Inc. 4. Andrew B. Abel and Ben S. Bernanke (2011). Macroeconomics, 7th edition, Pearson Education, Inc.
5. Charles I. Jones (2002). Introduction to Economic Growth, 2nd edition, W.W. Norton & Company.
INTRODUCTORY ECONOMETRICS
Course Code: BAECC10 Course Credit: 6
Course Description
This course provides a comprehensive introduction to basic econometric concepts and
techniques. It covers statistical concepts of hypothesis testing, estimation and diagnostic
testing of simple and multiple regression models. The course also covers the consequences
of and tests for misspecification of regression models. Course Outline
Module I - Introduction
Definition and scope of econometrics; Type of econometrics Module II - Statistical Concepts
Normal distribution; chi-square, t- and F-distributions; Estimation of parameters; Properties
of estimators; Testing of hypotheses; Distribution of test statistics; Testing hypotheses related
to population parameters; Type I and Type II errors; Power of a test; Tests for comparing
parameters from two samples. Module III - The Simple Linear Regression Model
The Ordinary Least Squares Method (OLS); Goodness of fit; Tests of significance of the
parameter estimates; Confidence intervals of the parameters; Desirable properties of
estimators; Properties of the least squares estimators; Module IV - Multiple Linear Regression Model Model with two explanatory variables; The general linear regression model; Partial correlation coefficients
Module V - Violations of Classical Assumptions: Consequences, Detection and Remedies
Homoscedasticity; Autocorrelation; Multicollinearity References
1. Devore, Jay.L. (2010). Probability and Statistics for Engineers, Cengage Learning 2. Freund, John. E. (1992). Mathematical Statistics, Prentice Hall
3. Larsen, Richard. J. and Morris L. Marx (2011). An Introduction to Mathematical
Statistics and its Applications, Prentice Hall.
4. Gujarati, D. N. and Porter, D.C. (2009). Essentials of Econometrics, McGraw Hill,
4th edition, International Edition
5. Dougherty, C. (2007). Introduction to Econometrics, Oxford University Press, 3rd
edition, Indian edition 6. Kmenta, Jan. (2008). Elements of Econometrics, 2nd edition, Indian Reprint, Khosla
Publishing House
INTRODUCTORY RESEARCH METHODS
Course Code: BAESE02 Course Credit: 4
Course Description
The course is to develop a research orientation among the students and to acquaint them with
fundamentals of research methods. Specifically, the course aims at introducing them to the basic
concepts used in research and to scientific social research methods and their approach. It
includes discussions on sampling techniques, research designs and techniques of analysis.
Course Outline
Module I: Basics of Research
Introduction to Research: Meaning, Objectives, Motivation, Types, Approaches, Significance,
Research Process, Criteria of Good Research; Qualities of a Good Researcher, Research as a
Career
Module II: Research Problem
Defining the Research Problem: What is a Research Problem? Selecting the Problem, Necessity
of Defining the Problem, Technique Involved in Defining a Problem; Research Design:
Meaning, Need, features of a Good Design, Important Concepts Relating to Research Design,
Different Research Designs, Basic Principles of Experimental Designs
Module III: Measurement and Scaling Technique
Measurement in Research, Measurement Scales, Sources of Error in Measurement, Tests of
Sound Measurement, Techniques of Measurement Tools, Scaling and Important Scaling
Technique
Module IV: Problems in Research
Research Ethics: codes and ethics, permissions to research, responsibilities, confidentiality,
feedback, participatory research; Research Proposal and literature review: research proposal,
review of literature, levels of analysis, using the library and internet, abstracting, word
processing, plagiarism
Module V: Actions in Research
English in report writing: words, sentences, paragraph, writing style; The Report: improving
quality, sections, drawing conclusions, evaluation checklists, persistence; Common Citation
Styles-APA, IMLA, Chicago, Research writing, Layout of report.
References
1. Kothari, C. R. (2004): Research Methodology: Methods and Techniques, New Age
International Private Limited Publishers, New Delhi.
2. Guthrie, G. (2010): Basic Research Methods, Sage Publications India Private Limited, New
Delhi.
3. Monippally, M. M. (2010): Academic Writing: A Guide for Management Students and
Researchers, Response Books (Sage), New Delhi, Pp. 196-217
4. Young, P. V. (1996): Scientific Social Survey and Research, PHI Learning Private Limited,
New Delhi
5. Dooley, D. (2008): Social Research Methods, Prentice-Hall of India Privated Limited, New
Delhi
PUBLIC ECONOMICS
Course Code: BAEGE04 Course Credit: 6
Course Description
Public Economics is the study of government policy from the points of view of economic
efficiency and equity. The paper deals with the nature of government intervention and its
implications for allocation, distribution and stabilization. Inherently, this study involves a
formal analysis of government taxation and expenditures. The subject encompasses a host of
topics including public goods, market failures and externalities.
Course Outline
Module I: Introduction to public finance
Public Finance: meaning and scope, distinction between public and private finance; public good
verses private good; Principle of maximum social advantage; Market failure and role of
government;
Module II: Public Expenditure
Meaning, classification, principles, cannons and effects, causes of growth of public expenditure,
Wagner’s law of increasing state activities, Peacock-Wiseman hypotheses.
Module III: Public Revenue
Sources of Public Revenue; Taxation - meaning, cannons and classification of taxes, impact and
incidence of taxes, division of tax burden, the benefit and ability to pay approaches, taxable
capacity, effects of taxation, characteristics of a good tax system, major trends in tax revenue of
central and state governments in India
Module IV: Public Budget
Public Budget: kinds of budget, economic and functional classification of the budget; Balanced
and unbalanced budget; Balanced budget multiplier; Budget as an instrument of economic
policy.
Module V: Public Debt
Sources, effects, debt burden – Classical, Ricardian and other views, shifting - intergenerational
equity, methods of debt redemption, debt management, tax verses debt;
References:
1. J. Hindriks and G. Myles (2006): Intermediate Public Economics, MIT Press.
2. R. A. Musgrave and P. B. Musgave (1989): Public Finance in Theory and Practices. McGraw
Hill
3. B. P. Herber (1975): Modern Public Finance.
4. B. Mishra (1978): Public Finance, Macmillan India limited.
SEMESTER - V
CODE SUBJECT
EVALUATION SCHEME
CREDIT
Periods INTERNAL
ESE TOTAL L T P MT TA TOTAL
BAECC11 Indian Economy I 5 1 0 20 20 40 60 100 6
BAECC12 Development Economics I 5 1 0 20 20 40 60 100 6
BAEDE01 Political Economy I 6 0 0 20 20 40 60 100 6
BAEDE02 Applied Econometrics 5 1 0 20 20 40 60 100 6
BAEP05 Minor Project 0 0 2 0 0 0 0 100 2
TOTAL 500 26
SEMESTER - VI
CODE SUBJECT
EVALUATION SCHEME
CREDIT
Periods INTERNAL
ESE TOTAL L T P MT TA TOTAL
BAECC13
Indian Economy II 5 1 0 20 20 40 60 100 6
BAECC14 Development Economics II 5 1 0 20 20 40 60 100 6
BAEDE03 Political Economy II 2 0 0 20 20 40 60 100 6
BAEDE04 Dissertation/Project 5 1 0 20 20 40 60 100 6
BAEP06 Comprehensive Viva 0 0 2 0 0 0 0 100 2
TOTAL 500 26
INDIAN ECONOMY-I
Course Code: BAECC11 Course Credit: 6
Course Description
Using appropriate analytical frameworks, this course reviews major trends in economic
indicators and policy debates in India in the post -Independence period, with particular
emphasis on paradigm shifts and turning points. Given the rapid changes taking place in India,
the reading list will have to be updated annually. Course Outline
Module1
Economic Development since Independence
Major features of the economy at independence, British rule and Exploitation of India, growth
and development under different policy regimes—goals, constraints, institutions and policy
framework; an assessment of performance—sustainability and regional contrasts; structural
change, savings and investment. Module 2
Population and Human Development
Broad demographic features— Population size and growth rates, Sex and age composition,
occupational distribution, Stages of Demographic transition, Density of population,
Urbanisation and economic growth in India. Population growth as a factor of economic
development, Cause of rapid growth of population. National Population Policy, Progress of
human development in India. Development of education in India, health and family welfare and
the development of health infrastructure.
Module 3
Growth and Distribution
The concept of Economic Growth, Concept of Economic development, Comparison of
Economic growth and development, Characteristics of underdeveloped Countries. Trends and
policies in poverty; inequality and unemployment, Poverty-Concept of Poverty line, incidence
of poverty, poverty alleviation programmes, strategy for poverty alleviation.
Module 4
Globalisation & Black Money
Globalisation- Meaning of Globalisation inIndia, Steps towards globalization, Effects of
Globalisation. Black Money- Black Economy in India, Definition and Consequences,
Estimating black money, causes and consequences, Goovernment’s measures to curb black
money.
Module 5 International Comparisons
Comparison of various economies based on Gross domestic product, Growth rate, PPP, PCI,
Human Development Index, Happiness Index, Immigration.
References
1. Mishra & Puri, 2018, Indian Economy, Himalaya Publication house
2. Jean Dreze and Amartya Sen, Jean Dreze and Amartya Sen, 2013. An Uncertain Glory: India
and its Contradictions, Princeton University Press.
3. Pulapre Balakrishnan, 2007, The Recovery of India: Economic Growth in the Nehru Era,
Economic and Political Weekly, November.
4. Rakesh Mohan, 2008, ―Growth Record of Indian Economy: 1950-2008. A Story of
Sustained Savings and Investment, Economic and Political Weekly, May.
5. S.L. Shetty, 2007, ―India‘s Savings Performance since the Advent of Planning, in K.L.
Krishna and A. Vaidyanathan, editors, Institutions and Markets in India’s Development.
6. Himanshu, 2010, Towards New Poverty Lines for India, Economic and Political Weekly,
January.
7. Jean Dreze and Angus Deaton, 2009, Food and Nutrition in India: Facts and Intepretations,
Economic and Political Weekly, February.
8. Himanshu. 2011, ―Employment Trends in India: A Re-examination, Economic and Political
Weekly, September.
9. Rama Baru et al, 2010, ―Inequities in Access to Health Services in India: Caste, Class and
Region, Economic and Political Weekly, September.
10. Geeta G. Kingdon, 2007, ―The Progress of School Education in India, Oxford Review of
Economic Policy.
11. J.B.G. Tilak, 2007, ―Post Elementary Education, Poverty and Development in India,
International Journal of Educational Development.
12. T. Dyson, 2008, ―India‘s Demographic Transition and its Consequences for Developmentǁ
in Uma Kapila, editor, Indian Economy Since Independence, 19th edition, Academic
Foundation.
13. Kaushik Basu, 2009, ―China and India: Idiosyncratic Paths to High Growth, Economic and
Political Weekly, September.
14. Kaushik Basu and A. Maertens, eds, 2013, The New Oxford Companion to Economics,
Oxford University Press.
DEVELOPMENT ECONOMICS-I
Course Code: BAECC12 Course Credit: 6
Course Description
This is the first part of a two-part course on economic development. The course begins with
a discussion of alternative conceptions of development and their justification. It then
proceeds to aggregate models of growth and cross -national comparisons of the growth
experience that can help evaluate these models. The axiomatic basis for inequality
measurement is used to develop measures of inequality and connections between growth and
inequality are explored. The course ends by linking political institutions to growth and
inequality by discussing the role of the state in economic development and the informational
and incentive problems that affect state governance. Course Outline
Module I - Conceptions of Development
Alternative measures of development, documenting the international variation in these
measures, comparing development trajectories across nations and within them. Module II - Growth Models and Empirics
The Harrod-Domar model, the Solow model and its variants, endogenous growth models
and evidence on the determinants of growth. Module III - Poverty and Inequality: Definitions, Measures and Mechanisms
Inequality axioms; a comparison of commonly used inequality measures; connections
between inequality and development; poverty measurement; characteristics of the poor;
mechanisms that generate poverty traps and path dependence of growth processes. Module IV - Political Institutions and the Functioning of the State
The determinants of democracy; alternative institutional trajectories and their relationship
with economic performance; within-country differences in the functioning of state
institutions; state ownership and regulation; government failures and corruption. References
1. Ray, Debraj (2009). Development Economics, Oxford University Press
2. Michael P. Todaro and Stephen C. Smith, Pearson, Twelfth Edition
POLITICAL ECONOMY I
Course Code: BAEDE01 Course Credit: 6
Course Description
This course explores changes in the organisation of production, labour market institutions and
corporate structure. It goes on to study the consequences of globalization, especially of financial
flows, for the role of the state, economic performance, gender issues, environment, human
welfare and development.
Course Outline
Module I: Introduction and Historical Overview
Perspective on political economy with a historical overview: capitalist development in
the pre-second world war period, the ‗golden age‘ and later.
Module II: Changing Dynamics of Capitalist Production, Organisational Form and
Labour Process
Fordist and post-fordist production; changing dynamics of organisation of production,
markets and labour process; the changing nature of job security and labour rights.
Module III: The State in the Era of Globalisation: Welfare, Development and Autonomy
Globalisation and the limits of the welfare state, development and state autonomy.
Module IV: The Changing Role of Finance
The changing role of finance in capital accumulation and corporate structure; finance and
globalisation - financialisation, financial liberalisation and financial crisis.
Module V: The Social Dimension
Globalisation and uneven development – growth, inequality and exclusion.
Module VI: New Perspectives
Gender in work, accumulation and globalisation; issues in environment and sustainability;
alternatives ahead.
References:
1. Beaud, Michel. (2001). A History of Capitalism, 1500-2000, trans. by Tom Dickman and
Anny Lefebvre, New York: Monthly Review Press
2. Amin, Ash (ed.) (1994). Post-Fordism: A Reader, Blackwell
3. Tonkiss, Fran. (2006). Contemporary Economic Sociology: Globalisation, Production,
Inequality, Chapter 4 (Fordism and After), Routledge India 2008 reprint
4. Hymer, S. (1975). "The Multinational Corporation and the Law of Uneven Development", in
H. Radice (ed.) International Firms and Modern Imperialism, Penguin Books
5. Gereffi, G., Humphrey, J. and Sturgeon, T. (2005). The Governance of Global Value Chainsǁ,
Review of International Political Economy, Volume 12: 78–104.
APPLIED ECONOMETRICS
Course Code: BAEDE02 Course Credit: 6
Course Description
The aim of this course is to provide a foundation in applied econometric analysis and
develop skills required for empirical research in economics. Topics include specification and
selection of regression models, dynamic econometric models, advanced methods in
regression analysis and panel data models. Since the emphasis is on application of methods,
this course requires understanding of econometric software and computing skills. Course Outline
Module I - Stages in Empirical Econometric Research Hypothesis selection, establishing the objective, developing an economic model, Developing an econometric model, Estimating coefficients, Analysis and validation Module II - Econometric modeling
Model selection criteria; Types of specification errors and their consequences; Tests for
Specification errors Module III - Advanced Topics in Regression Analysis
The Logit model, The Probit model; Dynamic Econometric Models: Autoregressive and
Distributed lag models; Simultaneous equation models. Module IV - Panel Data Regression Models
Methods of estimation: The Fixed effects approach and The random effects approach Module V - Introduction to Econometric
Software Package GRETL; E-VIEWS; STATA
(any one) References 1. Wooldridge, Jeffrey. M. (2009). Econometrics, CENGAGE learning, India Edition 2. Asteriou, Dimitrios. and Hall, Stephen. (2007). Applied Econometrics: A Modern Approach,
Palgrave Macmillan 3. Gujarati, D.N. (2011). Econometrics by Example, Palgrave Macmillan
INDIAN ECONOMY-II
Course Code: BAECC13 Course Credit: 6
Course Description
This course examines sector-specific polices and their impact in shaping trends in key
economic indicators in India. It highlights major policy debates and evaluates the Indian
empirical evidence. Given the rapid changes taking place in the country, the reading list
will have to be updated annually. Course Outline
Module 1
Macroeconomic Policies and Their Impact
Fiscal Policy; trade and investment policy; financial and monetary policies; labour regulation,
Poverty, Demonetisation , Trade Policy, Balance of Trade, Balance of Payment. Module 2
Policies and Performance in Agriculture
Trends in agricultural productivity, causes of low level of productivity, Measures to increase
productivity, Trends in agricultural price, Need for agricultural price policy, Agricultural
Subsidies, Food security, Public distribution system, National Food security Module 3
Policies and Performance in Industry
Trends in Industrial production, problems of Industrial development in India, Small scale
Industry-Definition and performance of Small scale industry in Indian Economy, Problems,
Public and Private sector, Introduction to Government schemes like- Make in India, Startup
India, Skill India. Module 4
Trends and Performance in Services
Growth and contribution of service sector in India, Role of services in Employment, India’s IT
and ITES Industry, Foreign trade in services, Sustainability in services lead growth.
Module 5
Economic Policies :- Economic Planning in India , Planning commission v/s NITI Aayog,
monetary policy in India, Fiscal Policy in India, Centre state Finance Relations, Finance
commission in India. LPG policy in India.
References:
1. Shankar Acharya, 2010, ―Macroeconomic Performance and Policies 2000-8,ǁ in
Shankar Acharya and Rakesh Mohan, editors, India’s Economy: Performances and
Challenges: Development and Participation, Oxford University Press. 2. Rakesh Mohan, 2010, ―India‘s Financial Sector and Monetary Policy Reforms,ǁ in
Shankar Acharya and Rakesh Mohan, editors, India’s Economy: Performances and
Challenges: Development and Participation, Oxford University Press.
3. Pulapre Balakrishnan, Ramesh Golait and Pankaj Kumar, 2008, ―Agricultural
Growth in India Since 1991, RBI DEAP Study no. 27.
4. B.N. Goldar and S.C. Aggarwal, 2005, ―Trade Liberalisation and Price-Cost
Margin in Indian Industries, The Developing Economics, September.
5. P. Goldberg, A. Khandelwal, N. Pavcnik and P. Topalova, 2009, ―Trade
Liberalisation and New Imported Inputs, American Economic Review, Papers and
Proceedings, May.
6. Kunal Sen, 2010, ―Trade, Foreign Direct Investment and Industrial Transformation in
India, ïn Premachandra Athukorala, editor, The Rise of Asia, Routledge.
7. A. Ahsan, C. Pages and T. Roy, 2008, ―Legislation, Enforcement and Adjudication in
Indian Labour Markets: Origins, Consequences and the Way Forward, in D. Mazumdar
and S. Sarkar, editors, Globalization, Labour Markets and Inequality in India, Routledge.
8. Dipak Mazumdar and Sandeep Sarkar, 2009, ―The Employment Problem in India and
the Phenomenon of the ‗Missing Middleǁ, Indian Journal of Labour Economics.
9. J. Dennis Rajakumar, 2011, ―Size and Growth of Private Corporate Sector in
Indian Manufacturing, Economic and Political Weekly, April.
10. Ramesh Chand, 2010, ―Understanding the Nature and Causes of Food Inflation,ǁ
Economic and Political Weekly, February.
11. Bishwanath Goldar, 2011, ―Organised Manufacturing Employment: Continuing the
Debateǁ, Economic and Political Weekly, April. 12. Kaushik Basu and A. Maertens, eds, 2013, The New Oxford Companion to
Economics in India, Oxford University Press.
DEVELOPMENT ECONOMICS-II
Course Code: BAECC14 Course Credit: 6
Course Description
This is the second module of the economic development sequence. It begins with basic
demographic concepts and their evolution during the process of development. The structure
of markets and contracts is linked to the particular problems of enforcement experienced in
poor countries. The governance of communities and organizations is studied and this is then
linked to questions of sustainable growth. The course ends with reflections on the role of
globalization and increased international dependence on the process of development. Course Outline
Module I - Demography and Development Demographic concepts; birth and death rates, age structure, fertility and mortality;
demographic transitions during the process of development; gender bias in preferences and
outcomes and evidence on unequal treatment within households; connections between
income, mortality, fertility choices and human capital accumulation; migration. Module II - Land, Labor and Credit Markets
The distribution of land ownership; land reform and its effects on productivity; contractual
relationships between tenants and landlords; land acquisition; nutrition and labor
productivity; informational problems and credit contracts; microfinance; inter-linkages
between rural factor markets. Module III - Individuals, Communities and Collective Outcomes
Individual behavior in social environments, multiple social equilibria; governance in
organizations and in communities; individual responses to organizational inefficiency. Module IV - Environment and Sustainable Development
Defining sustainability for renewable resources; a brief history of environmental change;
common-pool resources; environmental externalities and state regulation of the environment;
economic activity and climate change. Module V - Globalization
Globalization in historical perspective; the economics and politics of multilateral
agreements; trade, production patterns and world inequality; financial instability in a
globalized world. References
1. Ray, Debraj. (2009). Development Economics, Oxford University Press
2. Todaro, Michael. P. and Smith, Stephen. C. Pearson, Twelfth Edition
POLITICAL ECONOMY-II
Course Code: BAEDE03 Course Credit: 6
Course Description
Employing perspectives from alternative schools of thought, this course explores the
development of the structure and institutions of capitalist economies and their relationship
to social and political forces. Students are expected to read some classic texts as well as
more recent commentaries.
Course Outline
Module I - Analysing Social Change in Historical Perspective
The method of historical materialism; the transition from feudalism to capitalism; capitalism
as a historical process – alternative perspectives Module II - Capitalism as an Evolving Economic System
Basic features; accumulation and crisis; the modern corporation; monopoly capitalism—
alternative perspectives Module III - The State in Capitalism
The state and the economy – contestation and mutual interdependence; the state as an
arena of conflict; imperialism – the basic foundations
References
1. J. Gurley, "The Materialist Conception of History", Ch.2.1 in R. Edwards, M.
Reich and T. Weisskopf (ed.), The Capitalist System, 2nd edition, 1978.
2. O. Lange, Political Economy, vol. 1, 1963, Chapters 1 and 2.
3. E.K. Hunt, History of Economic Thought, M.E. Sharpe, Indian edn, Shilpi
Publications, 2004.
4. Irfan Habib, 1995, "Capitalism in History", Social Scientist, Vol. 23: 15-31.
5. R.L. Heilbroner, "Capitalism", in The New Palgrave Dictionary of Modern
Economics, Macmillan, 1987. Also reprinted as Chapter 2 in Behind the Veil of
Economics by R.L. Heilbroner, W.W. Norton, 1988.
6. P. Sweezy, The Theory of Capitalist Development, Monthly Review Press, 1942
7. Anwar Shaikh, Entries on "Economic Crises" and "Falling Rate of Profit" in T.
Bottomore et al (eds.), The Dictionary of Marxist Thought, OUP, Indian edition, Maya
Blackwell, 2000.
8. Vamsi Vakulabharanam, 2009, ―The Recent Crisis in Global Capitalism: Towards a
Marxian Understandingǁ, Economic and Political Weekly, March 28, Vol. 44: 144-150.
9. J. Schumpeter, Capitalism, Socialism and Democracy, George Allen and Unwin 1976
10. P. Baran (1957), The Political Economy of Growth, Chapter 3, Pelican edition, 1973.
11. M. Kalecki, ―Political Aspects of Full Employmentǁ, in E.K. Hunt and J.G.
Schwarz (eds.), A Critique of Economic Theory, Penguin Books, 1972