b.a. (hons.) economics course structure under cbcs

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


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 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 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

http://indiabudget.nic.in/vol2_survey.asp

MATHEMATICAL METHODS IN ECONOMICS - II


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 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


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


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 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 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 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 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 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 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 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 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


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


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 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 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 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 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 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 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

b.a. (hons.) economics course structure under cbcs

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