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DETAIL SYLLABI OF THE M.A. PROGRAMMES IN ECONOMICS UNDER CHOICE BASED CREDIT SYSTEM:

FIRST SEMESTER

Course Code : ECO10100

Title of the Course : Microeconomic Analysis – I

Marks : 100 (In-Semester : 40 + End-Semester :60)

Unit Topic

Unit - I Theory of Production and Costs: The Production Function for a Single Product Firm: Basic Concepts;

Homogeneous and Non-Homogeneous Production Functions - Cobb- Douglas

(C.D.) and Constant Elasticity of Substitution (C.E.S.) Production Function -

Short-Run and Long-Run Analysis of Production - Returns to Scale and

Returns to a Factor - Technical Progress and Production Function – Hicks’ and

Harrod’s Classification of Technical Progress – Choice of Optimal Factor

Combination: Constrained Profit Maximization and Optimal Expansion Path -

Production Possibility Curve and Equilibrium of the Multi-Product Firm.

Derivation of Cost Functions from Production Functions, Traditional vs.

Modern Theory of Costs; Economies of Scale - the Relevance of the Shape of

Costs in Decision Making

Unit – II

A Review of Equilibrium of the Firm and Industry under Perfect Competition, Monopolistic Competition and Monopoly - Effect of Imposition of a Tax under Perfect Competition and Monopoly - Monopoly and Its Regulation - the Multi-Plant Firm

Oligopoly Models: Non-Collusive Oligopoly- Cournot’s Duopoly Model, Bertrand’s Duopoly Model, and Stackelberg’s Duopoly Model - Kinked-Demand Curve Model

Collusive Oligopoly- Cartels Aiming at Joint Profit Maximisation and Market-Sharing Cartels - Price Leadership Models.

Unit – III

Linear Programming: Definition and Basic Concepts - Objective Functions, Constraints, Iso-cost and Iso-profit lines, Feasible Reason, Optimal Solution, Objectives and Applications; Basic Assumption of Linear Programming

Formulation Linear Programming Problem and its Graphical Solution

Total Credits : 3

Reading List:

1. Ahuja, H.L.: Advanced Economic Theory – Micro Economic Analysis,

S.Chand & Company Ltd 2. Baumol, W.J.: Economic Theory and Operations Analysis, Prentice Hall of

India Private Limited 3. Henderson, J.M. & Quandt, and R.E.: Micro Economic Theory, McGraw Hill. 4. Koutsoyiannis, A: Modern Microeconomics, ELBS with Macmillan

Publication. 5. Maddala, G.S. and Miller, E.: Microeconomics, Theory and Applications;

McGraw Hill 6. Pindyck, R.S., Rubinfeld, D.L. & Mehta: Micro Economics, Pearson

Education 7. Salvatore. D.: Micro Economics, Theory and Applications, Oxford University

Press.


Title of the Course : Macroeconomic Analysis

Marks : 100 (In-Semester : 40 + End-Semester : 60)

Unit Topic

Unit – I

Basic Macroeconomics:

IS-LM model; The Fiscal Policy Multiplier and The Monetary Policy Multiplier; Monetary Policy, the Transmission Mechanism and the Liquidity Trap; Fiscal Policy and Crowding-Out; The Composition of Output and the Policy-Mix. Economic Policy in an Open Economy: The Mundell-Fleming Model.

Unit – II

Aggregate Supply and Aggregate Demand:

The Aggregate Demand and Aggregate Supply Framework: Aggregate Demand (Under Price Flexibility); Aggregate Supply; Effects of Changes in the Fiscal and Monetary Policy on AD-AS model; Demand and Supply Shocks; Full Wage Price Flexibility (Classical Case); Wage Price Rigidity (Keynesian Case): Efficiency Wage Hypothesis and Menu Cost Hypothesis; Keynesian Aggregate Supply and Classical Aggregate Supply; Aggregate Demand Policy Under Alternative Supply Assumptions;

Long- Run Shifts in AD and AS.

Unit –III

Supply Side Economics:

Development of Supply-Side Economics; Basic Propositions of Supply-Side Economics; The Laffer Curve Analysis; Dynamic Scoring; Effects of Cutting Tax Rates on the Aggregate Demand and Aggregate Supply Curves; Policy Recommendations of Supply-Side Economists; Keynesian Economics and Supply-Side Economics; New-Keynesian Objections Against Supply-Side Economics; Supply-Side Economics and Developing Economies.

Unit –IV

Behavioural Foundations of Macroeconomics:

Consumption and Saving: The Life Cycle and The Permanent Income Hypotheses; Efficacy of Policy Action (Ricardian Equivalence).The Random Walk Hypothesis and its Implications. Theories of Investment Demand: the Accelerator Theories of Investment; the Neoclassical Theory

of Investment and Q-Theory of Investment.

Unit – V

The New Macroeconomics:

An Overview of the New Macroeconomics; New Classical Economics and Economic Policy: Rational Expectations Hypothesis and Policy Ineffectiveness; Sellers’ Misperception and Non-Neutrality of Money; Keynesian Counter Critique; Real Business Cycle Theory; The Random Walk of GDP.

Total Credits : 3

Reading List:

1. Dornbusch, R., Fischer, S. and Startz, R.: “Macroeconomics”; Tata McGraw-Hill

Publishing Company Limited, New Delhi.

2. Mankiw, N.G.: “Macroeconomics”; Worth Publishers, Newyork.

3. Sikdar, S.: “Principles of Macroeconomics”; Oxford University Press, New

Delhi.

4. D’Souza, E.: “Macroeconomics”; Pearson Education, Delhi.

5. Hall, R.E. and Pappel, D.H.: “Macroeconomics - Economic Growth,

Fluctuations, and Policy”; W.W. Norton & Company, Newyork.

6. Rana, K.C. & Verma, K.N.: “Macroeconomic Analysis”; VPC, Jalandhar.

Course Code: ECO10300 Course Title: Economics of Social Sector and Environment Marks : 100 (In-Semester : 40 + End-Semester : 60)

Unit Topic

I Economics of Education: Role of Education in Economic Development, Human

Capital- Human Capital Vs Physical Capital, Components of Human Capital,

Provision and Utilization of Educational Facilities, the Relationship between

Employment Opportunities and Educational Demand, Role of Private and Public

Sectors.

II Economics of Health: Determinants of Health Status - Disease Burden and its

Measurement, Investment in Health, Health and Productivity, Economics of Health

Insurance, Economics of Nutrition: Linkages with Morbidity, Mortality and Female

Education, Concept of Missing Women, Consequences of Gender Bias in Health.

III Interlinkages between Economy and the Environment, Environment – Development

Tradeoff, Renewable and Non-renewable Resources, Common Property Resources,

Poverty and Environment; Sustainable Development - Concepts of Sustainability –

Indicators of Sustainability, Environmental Impact Analysis, Trade and Environment.

Total Credits : 3

Reading Lists:

1. Todaro & Smith: Economic Development, Pearson Education Asia.

2. Meier & Rauch: Leading Issues in Economic Development, Oxford University Press.

3. Hanley, Shogren and White, “Environmental Economics”, Macmillan

4. Bhattarcharjya, R., Environmental Economics”, Oxford University Press


Title of the Course : Public Finance - I


Unit Topic

I Principles of Taxation - The Benefit and Ability to Pay Principle.

Incidence of Taxes under different Market Conditions – Incidence of Corporate

Income Tax.

Modern Views on Incidence.

Excess Burden of Tax-Neutrality - Efficiency and Equity.

Tax Buoyancy and Elasticity, Value Added Tax

II Budget System and Policy-Technique of Budgeting – Programme and Performance

Budgeting system - Zero Base Budgeting; Outcome Budget

Fiscal deficit- Revenue deficit - Primary deficit - Budget as an instrument of

Economic Policy– Budgetary Policy in India - Study of Union Budgets

III Fiscal Policy: Objectives of Fiscal Policy in Developed and Developing Countries -

Contra Cyclical Fiscal Policy and Compensatory Fiscal Policy – Limitations of Fiscal

Policy.

Integration of Monetary and Fiscal Policies.

Fiscal Reform measures in the Context of India’s New Economic Policy

Total credits : 3

Reading List:

1. Musgrave,R.A. :”The Theory of Public Finance: A Study in Public Economy”

McGraw Hill Book Company New York.

2. Prest, A.R.: “Public Finance in Theory & Practice”;Vikash Publications Ltd.,

New Delhi.

3. Tripathy, R.N.: “Public Finance in Underdeveloped Countries”; The World

Press Pvt. Ltd., Calcutta.

4. Hyman, D.N.: “Public Finance: A Contemporary Application of Theory to

Policy”; Thomson Asia Pvt. Ltd., Singapore.

5. Choudhry,R.K.: “Public Finance and Fiscal Policy”; Kalyani Publishers,

New Delhi.

6. Reports on Indian Tax Reforms, Government of India, New Delhi.

7. Latest Union Budget, Government of India.


Title of the Course : Statistics for Economics


Unit Topic

Unit – I Probability and Distribution : Random Variables- Discrete and Continuous, Probability Mass Function and Probability Density Function, Rules of probability, Mathematical Expectation, Discrete and continuous distributions- Binomial distribution, Poisson distribution and Normal distribution.

Unit – II

Sampling and Sampling distribution: Sampling methods, Sampling

distribution of an estimator, Point estimation, Interval estimation, 2χ , t , F

distributions; Mean and Variance of a Sample Mean.

Unit – III

Correlation and Regression – Simple Linear Regression - Multiple Linear Regression - Multiple Correlation, Partial Correlation.

Unit - IV

Interpolation – Extrapolation

Unit – V

Statistical Inference: Characteristics of a good estimator – Testing of hypothesis : Type I and type II errors, one–tailed and two–tailed tests, Level of Significance and Degrees of Freedom Linear Regression Model: Two Variable Linear Regression Model – Assumptions – BLUE – Extension to Three Variable Model - Goodness of Fit – R2 and Adjusted R2 –Violation of the Assumptions – Multicollinearity, Heteroscedasticity and Autocorrelation (Concepts only).

Total Credits : 3

Reading list:

1. Gupta, S.P.: Statistical Methods, Sultan Chand and Sons, New Delhi.

2. Gupta, S.C. Fundamentals of Statistics, Himalaya Publishing House, Mumbai.

3. Nagar, A.L. and Das, R.K.: Basic Statistics, OUP, Delhi.

4. Spiegel, M.R.: Theory and Problems of Statistics, McGraw Hill.

5. Croxton & Cowden : Applied General Statistics, Prentice Hall of India Pvt. Ltd.,

New Delhi

SECOND SEMESTER


Title of the Course : Microeconomic Analysis – II

Total Marks : 100 (In-Semester : 40 + End-Semester : 60)

Unit Topic

Unit – I The Theory of Consumer Behaviour-I:

A Review of Indifference Curve Analysis. Revealed Preference Hypothesis; the Slutsky Equation; Ordinary and Compensated Demand Curves; Indirect Utility Function and Roy’s Identity; Duality in Consumption.

The Theory of Consumer Behaviour-II:

Consumer Behaviour Under Risky and Uncertain Situations: Uncertainty, Probabilities and Expected Values; Fair Gambles; The St. Petersburg Paradox and Bernoulli’s Hypothesis; Neumann-Morgenstern Method of Constructing Utility Index Under Risky Situations ; Risk Lover, Risk Averter And Risk Neutral Persons; Friedman-Savage Hypothesis.

Unit – II

The Economics of Information:

Markets with Asymmetric Information; Quality Uncertainty and the Market for Lemons. Adverse Selection; Social Insurance; Signaling and Screening; Moral Hazard ;The Principal-Agent Problem. Asymmetric Information in Labour Markets: Efficiency Wage Theory.

Unit –III

General Equilibrium and Welfare Economics: Partial vs. General Equilibrium Analysis; the Walrasian Model: Problem of Existence, Stability and Uniqueness of an Equilibrium; Tatonnement; Paretian Criterion for Welfare Improvement: Efficiency in Exchange, Efficiency in Production and Efficiency in Product-Mix; Kaldor-Hicks Compensation Criterion; Social Welfare Function; Maximization of Social Welfare; Determination of Welfare Maximizing Output-Mix, Commodity Distribution, and Resource Allocation; Welfare Maximization and Perfect Competition. Social Choice: Contributions of Arrow and Sen; Market Failure; Externalities and Public Goods.

Unit –IV

An Introduction to the Theory of Games: Basic Concepts, Objectives and Applications; Classification of Games depending upon Number of Players, Sum of Gains and Losses, and, Strategy; Competitive Games: Two-Person Zero-Sum Games; Pure and Mixed Strategies ; Rules of Dominance and Iterated Deletion of Dominated Strategies; Solution of Games with and without Saddle Point; Two Person, Non-Constant- Sum Games: Cooperative Games and Nash Bargaining Solution; Non-Cooperative Games and Prisoners’ Dilemma.

Total Credits : 3

Reading List:

1. Maddala, G.S. and Miller, E.: “Microeconomics - Theory and Applications”;

Tata McGraw-Hill Publishing Company Limited, New Delhi.

2. Koutsoyiannis, A: “Modern Microeconomics”; Macmillan Press Ltd.

3. Pindyck, R.S., Rubinfeld, D.L. & Mehta, P.L.: “Micro Economics”; Pearson

Education, Delhi.

4. Henderson, J.M. & Quandt, and R.E.: “Micro Economic Theory: A Mathematical

Approach”; McGraw-Hill Book Company.

5. Ahuja, H.L.: “Advanced Economic Theory – Micro Economic Analysis”;

S.Chand & Company Ltd


Title of the Course : Advanced Economic Analysis

Total Marks : 100 (In-Semester : 40 + End-Semester :60)

Unit Topic

Unit – I Inter-temporal Choice:

Discounting and Present Values; Choice of Investment Projects - Inter-temporal Consumption Decisions - Inter-temporal Production Decisions - Determination of the Rate of Interest; Applications.

Unit – II

Traditional Vs. Modern Theories of Firm, Managerial Theory of Firm: Baumol’s Model of Sales Revenue Maximization - Williamson’s Model of Managerial Discretion - Marris Model of Managerial Enterprise.

Theory of Limit Pricing: Models of Bain, Sylos-Labini, Modigliani and Bhagawati Contested Market Model

Unit – III

Functionings and Capabilities: Limitations of utilitarianism, poverty as capability failure.

Multidimensional measures of well-being; ‘outcome based’ and ‘resource based’ approaches; Issues in composite indices – problems of aggregation.

Unit - IV

Liberalisation and Globalisation: The fall of the centrally planned economies; State vs. Market; the New Institutional Economies; rise of a new paradigm – the debt-deficit-structural adjustment model of the World Bank and IMF.

Total Credits : 3

Reading List:

1. Ahuja, H.L.: Advanced Economic Theory – Micro Economic Analysis,

S.Chand & Company Baumol, W.J.: Economic Theory and Operations

Analysis, Prentice Hall of India Private Limited

2. Henderson, J.M. & Quandt, and R.E.: Micro Economic Theory, McGraw Hill.

3. Koutsoyiannis, A: Modern Microeconomics, ELBS with Macmillan

Publication.

4. Maddala, G.S. and Miller, E.: Microeconomics, Theory and Applications;

McGraw Hill

5. Pindyck, R.S., Rubinfeld, D.L. & Mehta: Micro Economics, Pearson Education

6. Salvatore. D.: Micro Economics, Theory and Applications, Oxford University

7. Hayami, Y.: Development Economics: From Poverty to the Wealth of Nations, Oxford.

8. Gerald M. Meier: Leading Issues in economic Development, OUP.


Title of the Course : Monetary Theory and Policies


Unit Topic

Unit – I Developments in the theory of demand for money:

Quantity theory approach, , Keynesian liquidity preference theory, Baumol’s inventory theoretic approach, Tobin’s theory of risk aversion, Friedman’s Restatement of quantity theory of money.

Unit – II

The Economics of Inflation:

Meaning of inflation, Theories of inflation – Demand-pull inflation, Cost-push inflation; Inflation and unemployment - Phillips curve approach, Stagflation; Effectiveness of monetary and fiscal policies – Monetarists, Keynesians and Synthesists views.

Unit – III

Inflation and Expectations:

Inflation-expectation-augmented Phillips curve, Okun’s law and inflationary pressure curve; Rational Expectation - policy ineffectiveness, criticisms; Keynesian counter attack – price stickiness.

Unit – IV

Business Cycles:

Meaning, characteristics and phases of business cycles; Theories of business cycle – Samuelson, Hicks and Kaldor’s theories, Control of business cycle.

Unit – V

Monetary Policy:

Objectives, instruments, lags and limitations of monetary policy; Indian monetary policy and problems – main features of Indian monetary policy with special reference to New Economic Policy; Problem of Non-performing Assets (NPAs) in India, Indian money market, Indian capital market.

Total Credits : 3

Reading List:

1. Harris, L: “Monetary Theory”, McGraw Hill.

2. Dornbusch, Fischer and Startz: “Macroeconomics”, Tata McGraw-Hill Edition,

New Delhi.

3. Sikdar, Soumyen: “Principles of Macroeconomics”, Oxford University Press,

New Delhi.

4. N. Greygory Mankiwn: “Macroeconomics”, CBS Publishers & Distributors,

Delhi.

5. Rana, K.C. & Verma, K.N.: “Macro Economic Analysis” Vishal Publishing

Company.

6. Paul, R.R.: “Monetary Theory”, Kalyani Publishers, Ludhiana.

Course Code : ECO20400 Title of the Course : Public Finance - II


Unit Topic

Unit – I Public Finance in Market Economies - Public and Private goods -The Optimal provision of Public good

The Theory of Clubs

The Free Rider Problem - The Lindhal Equilibrium

Externalities: Types of Externality, Characteristic of Externalities - Pigouvian Corrective Taxes - Coase Theorem.

Unit – II

Public Expenditure And Public Debt -The Critical Limit Hypothesis, Samuelson’s model

Tiebout’s model , Cost-Benefit Analysis and its Applicability, Public Expenditure and Economic Growth -Public Expenditure and Economic Stability

Public Debt–Public Debt as a Means of Regulating the economy , Public Debt and Economic Growth - Management of Public Debt

Unit - III

Fiscal Federalism – Principles of Federal Finance, Inter Governmental resource Transfer Horizontal and Vertical Balance in a Federation, India’s Finance Commission – A critical study – recommendations of the Latest Finance Commission

Total Credits : 3

Reading list:

1. Musgrave & Musgrave : Theory & Practice of Public Finance, McGraw Hill

Kogakusha Ltd., Tokyo.

2. Prest, A.R. : Public Finance in Theory & Practice, Vikash Publications

Ltd., New Delhi.

3. Tripathy, R.N. : Public Finance in Underdeveloped Countries, The World

Press Pvt. Ltd., Calcutta.

4. Hyman, D.N.: Public Finance: A Contemporary Application of Theory to

Policy, Thomson Asia Pvt. Ltd., Singapore.


Title of the Course : Mathematics for Economic Analysis


Unit Topic

Unit – I Sets, Set Operations, Convex Set – Properties, Relations and Functions: Different forms of functions and their graphs – Limit and Continuity of functions. Differentiation – Definition and Basic rules of differentiation – derivative of implicit functions – application of derivative in case of elasticity, revenue function, cost function and derivation of other marginal functions – Application to comparative static analysis of market model and national income model.

Unit – II

Unconstrained maxima and minima with single explanatory variable – Applications to Cost minimisation, Revenue maximisation, Profit maximisation and Equilibrium of firm – Partial Differentiation and Unconstrained maxima and minima with more than one explanatory variable – Application to discriminating monopoly.

Unit – III

Constrained optimization – Optimization with equality constraint – Lagrange’s Multiplier method – Application to consumer’s equilibrium and producer’s equilibrium in factor market.

Unit – IV

Integration – Basic rules of integration – Definite integral – Application to Economic problems – Derivation of total function from marginal function – Consumer’s surplus and producer’s surplus

Unit - V

Dynamic Analysis: First Order Differential Equation and solution – application to dynamic stability of market, First Order Difference equation and solution – application to Cob web model

Unit - VI

Elements of Matrix Algebra – Determinants, their evaluation and properties – Solution of Simultaneous equations – Input-Output analysis – Structure of an input-output model – Static open input-output model – Solution – Hawkins – Simon conditions, Pricing – dynamic input – output model – linkage analysis – income multiplier, output multiplier.

Unit- VII

Linear programming – Formulation and Solution - Simplex method – Degeneracy – Unbounded Solution – Infinite Optimal Solutions – Duality and its Theorems – Solution via Dual.

Total Credits : 4

Reading list:

1. A.C. Chiang: Fundamental Methods of Mathematical Economics, McGraw Hill,

New York.

2. R.G.D. Allen: Mathematical Analysis for Economists, Macmillan India, Madras.

3. J.M. Henderson & R.E. Quandt: Microeconomic Theory – A Mathematical

Approach, McGraw Hill, Kogakusha, Tokyo.

4. Barua, S.: Basic Mathematics and its Application in Economics, Macmillan India

Limited.

5. G.C. Archibald & R.G. Lipsey: An Introduction to Mathematical Treatment of

Economics, AITBS, New Delhi.

6. Soper, Jean: Mathematics for Economics and Business, Blackwell.

7. Sydsaeter and Hammond: Mathematics for Economic Analysis, Pearson.

THIRD SEMESTER

Course Code : ECO30100 Title of the Course : International Economics

Marks – 100 : (In-semester – 40 + End-Semester – 60)

Unit Topic

I Modern Theories of Trade: Heckscher-Ohlin theory of international trade – factor abundance,

demand reversal and factor intensity reversal; Leontief paradox;

Imperfect competition, economies of scale and international trade

(Intra-industry trade), Technological gap model of M.V. Posner,

Product cycle model of R. Vernon, Linder’s theory of demand and

trade pattern.

II Economic growth and international trade:

Economic growth, terms of trade and welfare, Effects of factor

growth on volume of production and terms of trade – Rybczynski

theorem; Effects of technical progress on volume of production and

terms of trade; International factor mobility and trade, Theory of

Foreign direct investment, Effects of FDI on investing and host

countries, Methods of acquiring FDI.

III Government Intervention on Trade: Political economy of protectionism, meaning and types of tariffs,

Partial equilibrium effects of a tariff, General equilibrium effects of

a tariff; Determination of effective rate of protection, The theory of

optimum tariffs; Non-tariff trade barriers and the new

protectionism.

IV Determination of exchange rate:

Meaning of exchange rate, Exchange rate determination under

Bretton Woods System, Under floating rate regime; Theories of

exchange rate determination – The balance of payments theory, The

monetary theory; Relationship between inflation and exchange rate,

interest rate and exchange rate.

V Regional Economic Integration:

Types of economic integration; Economic impacts of integration –

Theory of customs union – trade creation, trade diversion and other

partial equilibrium effects of customs union; Concept of Optimum

Currency Area; WTO – major agreements, IMF – Objectives and

functions, Major regional trading Blocks – European Union (EU),

Association of South East Asian Nations (ASEAN).

Total credits : 4

Reading List:

1. Salvatore, D.: “International Economics”, John Wiley and Sons, New York.

2. Manur, H.G. : “International Economics” Vikash Publishing House Pvt. Ltd., N.

Delhi.

3. Soderstein, B.: “International Economics” MacMillan Press Ltd. London.

4. Cherunillam, F : “International Economics”, Tata McGraw Hill Publishing

Company Ltd, N.Delhi.

5. Krugman, P & Obstfeld M.: “International Economics”, Pearson Education.

6. Rana, K.P. & Verma, K.N.: “International Economics”, Vishal Publishing

Company, Jalandhar.

7. Daniels, J.D. and others: “International Business”, Pearson Education, Indian

reprint.

8. Rao, P. Subba: “International Business” (Text and Cases), Himalaya Publishing

House Delhi,

Course Code : ECO30200 Title of the Course : Economics of Growth and Development

Marks – 100 : (In-semester-40 + End-Semester-60)

Unit Topic

Unit – I Evolution of Development Economics, Development economics as Special Subject, The Measures of development – GNP Per Capita, PQLI, HDI, HPI, GDI and GEM

Unit – II

Harrod-Domar model, Solow-Swan model, Golden Rule of Accumulation, Absolute and Conditional Converg ence – Technological Progress – Models of Endogenous Growth, Growth Models with Poverty Traps (Sen)

Unit – III

World Population Growth through History, The Causes of high fertility in Developing Countries, Demographic Transition, Harris Todaro Model of Urban Migration

Unit – IV

Approaches to Political Economy: Radical, Mainstream and Institutional, Development and Underdevelopment – ‘Dependencia’ Theories of Development – Center-Periphery Model, False-Paradigm Model, the Dualistic Development thesis – the Neoclassical Counterrevolution – Political Instability and Economic Policy; the role of State in Less Developed Economies, the Role of Institutions

Unit – V

Measurement of Income Inequality, Economic Growth and Income Inequality – Kuznets Hypothesis – Lorenz Curve – Gini Coefficient. Growth and Distribution.

Total Credits : 3

Reading List:

1. Todaro & Smith, “Economic Development”, Pearson Education Asia, Eight

Edition.

2. Meier & Rauch, “Leading Issues in Economic Development”, Oxford University

Press.

3. Ray, Debraj, “Development Economics”, Oxford University Press.

4. Taneja & Myer, “ Economics of Development and Planning”, Vishal Publishing

Company,.

5. Higgins, B., “Economic Development – Problems, Principles & Practices”,

Universal Book Stall, New Delhi.

6. Dahiya, B.,(ed),”The Current State of Economic Science,Vol.- 5”, Spellbound

Publications Pvt. Ltd., Rohtak 124001.

7. Jomo, K.S., Reinert, E.S., “The Origins of Economic Development”, Tulika

Books, Zed Books.

8. Hayami, Yujiro: “Economic Development: From the Poverty to the Wealth of

Nations”, Oxford University Press.

Course Code : ECO30310 Course Title : Economics of Agriculture -I

Marks – 100 (In-semester-40 + End-Semester-60)

Unit Topic

I Agriculture and Economy- Changing importance of agriculture, Subsistence and

modernized agriculture; Interdependence between agriculture and industry; Farming

system; Traditional, Commercial, co-operative and state farming, State intervention in

production and marketing, Support price, Buffer stock arrangement, Protection of wages,

Input subsidy, Consumer protection, Agricultural taxes.

II Economics of agricultural production- Production relationship-Returns of scale, Stages of

rational and irrational production; Factor relationship –Problem of allocation and

substitution of resources; Isoquant, least cost combination; Product- product relationship-

Basic relationship, Optimum combination of two products

III Organizational aspects of farming- Problems of organization, Choice of production, Risks

and uncertainty in agriculture, efficiency of farming, Factor determining farm efficiency,

Agricultural modernization, phases of modernization

IV Product Market and Factor market- Product market: Approaches of Agricultural marketing, Functional, Commodity and Institutional; Problems of agricultural Marketing, Cost of marketing, Price spread, Demand and supply of agricultural produce, Cobweb Cycles; Factor Market: Theory of equilibrium of factor markets, linkages between land, Labour produce and capital markets, Tenancy and land reform, Type and sources of credit

Total Credits after calculation : 4

Reading List:

(A) Text Book

1. Christopher, Ritson: Agricultural Economics, Crosby Lockwood Staples,

London

2. Mellor, J.M.: Economics of Agricultural Development, Cornell University

press, New York.

3. Soni, R.N.: Leading Issues in Agricultural Economics, Sobhanlal Nagin

Chand & Co. Jalandhar.

4. Tousley, R.D. & E. Clark: Principles of Marketing, The Macmillan

Company, London.

(B) Reference Books:

1. Eicher, C. & Lawrence Witt: Agriculture in Economic Development,

Megraw Hill, New York.

2. Lekhi, R.K. & J. Singh: Agricultural Economics, Kalyani Publishers,

Ludhiana.

3. Martin, A Economics of Agriculture, Rout Ledge & Kegan Paul, London.

4. Sadhu, A.N. & A. Singh: Fundamentals of Agricultural Economics,

Himalayan publishing House, Bombay.

5. Schultz T.W.: The Economic Organization of Agriculture, McGraw Hill

Book Company, London.

6. Wetcalf: The Economics of Agriculture, Penguin Book, London


Title of the Course : Population Theory and Demographic Analysis - I

Marks – 100 (In-Semester-40 + End-Semester-60)

Unit Topic

I Definition and Scope of Demography, Demographic Data and their Uses, Sources of

Demographic Data – Census, Vital Registration, Sample Surveys, Population

Register, U.N. Publications.

II Population Theories: Pre Malthusian views; Malthusian Theory of Population;

Optimum Theory of Population; Theory of Demographic Transition;

Fertility Theories: Social theories: Social Capillarity theory, Theory of change and

response, Theory of diffusion; Economic Theories: Cost-benefit theory, Theory of

Micro-consumption; Biological theories of Spencer, Gini, Sadler and Doubleday;

Davis and Blake’s Theory of Intermediate Variables.

III Measures of Fertility:

Fertility: Basic Concepts used in Fertility Studies, Sources of Fertility Data; Basic

Measures of Fertility: Crude Birth Rate, General Fertility Rate, Age Specific Fertility

Rate, Total Fertility Rate. Order Specific Fertility Rate, Child-Women Ratio,

Measures of Reproduction: Gross Reproduction Rate, Net Reproduction Rate;

Standardized Rates: Direct and Indirect Method of Standardization.

IV Measures of Mortality:

Mortality: Basic Concepts; Determinants of mortality; Measures of Mortality -Crude

Death Rate, Death Rates by Age, Sex and Cause; Infant Mortality, Neonatal and Post-

neonatal Mortality Rates; Foetal Wastage – Foetal Death Ratio and Rate; Perinatal

Mortality Rate; Maternal Mortality Rate; Standardization of Death Rates; Life table

and its construction.

Total credits after calculation: 4

Reading List:

1. Thompson, W.S. and Lewis, D.T.: Population Problems, Mc Graw Hill Book

Company, New York.

2. Thomlinson, R.: Population Dynamics, Random House, New York.

3. Bhende, A.A. & Kanitkar, T.: Principles of Population Studies, Himalaya

Publishing House, Bombay.

4. Sinha, V.C. and Zacharia, E.: Elements of Demography, Allied Publishers Private

Limited, New Delhi.

5. Ghosh, B.N.: Population Theories and Demographic Analysis, Meenakshi

Prakashan, Meerut.

6. Shryock, H.S. et. al : Methods and Materials of Demography, Academic Press,

New York.

7. Srinivasan, K.: Basic Demographic Techniques & Application, Sage Publications,

New Delhi.

8. Rama Kumar, R.: Technical Demography, Wiley Eastern Limited, New Delhi.

9. Barclay G.W.: Techniques of Population Analysis, John Wiley & Sons, New

York.

10. Bogue, D.T.: Principles of Demography, John Wiley and Sons, New York.

11. Mahadevan, K.(ed.) : Fertility and Mortality, Sage Publications, New Delhi.

12. Lee, Everett., “A Theory of Migration” in J.A. Jackson (ed.) Migration,

Cambridge University Press, Cambridge.

Course Code : ECO30330 Course Title : Environmental Economics – I


Unit Topic

I The Economy and the Environment:

Basic concepts: Ecology, Environment and Economy; Economy and the

Environment linkages; The First two laws of Thermodynamics – Environmental

Economics: definition and development of the subject as a separate branch of

study – Resource Economics Vs Environmental Economics

II Economics of Resources:

Renewable Resources: Optimal management, common property and open access

–Tragedy of Commons, Non-renewable Resources - Economic Issues relating to

use of Non-renewable Resources: Management – Backstop- Exploration and

Technological progress

III Market Failure and its Common Sources:

Concept of market failure - Environment Degradation as Market Failure- Public

Goods: Characteristics - Environmental Quality as Public Goods; Externality:

Environmental damage as negative Externality, Pigouvian Tax - Coase

Theorem: Property Rights and Transaction Costs

IV Valuation of Environmental goods:

Use and Nonuse Values, Valuation Methods: Direct or Revealed Preference

Methods - Estimation of WTP/WTA by Contingent Valuation, Indirect or

Revealed Preference Methods: Hedonic Pricing Method and Travel Cost Method

V Instruments of Environmental Protection:

Conventional Methods: Command and Control Measures, Economic incentives:

Fee or Tax, Tradable Pollution Permits and Liability Rules

Total Credits : 4

Reading List:

1. Kolstad, Charles D., “Environmental Economics”, Oxford University Press.


3. Shanker, U, “Environmental Economics”, Oxford University Press


Course Code : ECO 30340 Title of the Course : Mathematical Economics-I

Marks : 100 (In-Semester : 40 + End-Semester: 60)

Unit Topic

Unit – I Theory of consumer behavior: Demand curves, utility surfaces and indifference maps – Slutsky theorem – The theory of Revealed Preference. Duality in Consumption, Indirect Utility Function – Roy’s Identity – Shefferds Lema.

Unit – II

Dynamic Analysis: Second Order Differential Equation and solution – application to dynamic stability of market, Second Order Difference equation and solution.

Unit – III

Market Structure : Pricing and output – Condition, Market Stability – Marshallian and Walrasian Conditions.

Unit – IV

Linear Programming: General formulation – simplex method of solution – degeneracy – unbounded solution, infinite optimal solutions, duality and its theorems – solution via dual

Unit - V

Non-linear programming: Nature of the problem – Kuhn-Tucker conditions - Integer programming - Dual Simplex Method, Economic Meaning of Shadow Prices (Accounting Prices), Sensitivity Analysis.

Total Credits : 4

Reading List:

1. J.M. Henderson and R.E. Quandt : Microeconomic Theory : A Mathematical

Approach, McGraw – Hill.

2. A.C. Chiang : Fundamental Methods of Mathematical Economics, Mc Graw

Hill, New York.

3. R.G.D. Allen : Mathematical Analysis for Economists Macmillan India

4. Barua, S. : Basic Mathematics and Its Application in Economics, Macmillan India

Limited

5. Handy H. Taha : Operations Research, Macmillan India Limited.

6. Hoy, et. al: Mathematics for Economics, PHI.

Course Code : ECO30350 Course Title : Econometric Methods – I


Unit Topic

I Fundamental Concepts:

Statistic and Parameter, Estimator & Estimate, Characteristic of a good estimator,

Sampling distribution, Random variable, Variance, Co-Variance & Correlation,

Linear Regression Model: Principles of least squares - Two-Variable Linear

regression Model, BLUE – The Gauss–Markov Theorem – Extension to Multi-

Variable Linear regression Model, Interval Estimation - Hypothesis testing,

Prediction & Forecasting; Maximum likelihood, Dummy Variable.

II Single Equation Problems - I:

Auto-Correlation, Heteroscedasticity – Problem, Detection and Alternative Methods

of Estimation – Generalised Least Square Method, Properties of GLS Estimators.

III Single Equation Problems - II:

Multicollinearity, Errors in Variable and Specification Errors – Problems, Detection

and Alternative Methods of Estimation.

IV Distributed Lag Models:

Concepts – Koyck Model – Estimation – Rationalization of Koyck Model – the

Adaptive Expectation Model and Partial adjustment Model – Almon Lag – Shiller’s

Distributed Lags – Autoregressive Models – Estimation, Detecting Auto –

Correlation in Autoregressive Models – Durbins h test.

Total Credits : 4

Reading list:

1. Gujarati, D.N.: “Basic Econometrics”, McGraw Hill, New Delhi.

2. Pindyck, R.S. and Rubinfeld, D.L. : “Econometric Models and Economic

Forecasts”, McGraw Hill, New York.

3. Dourgherty, C: “Introduction to Basic Econometrics”.

FOURTH SEMESTER

Course Code : ECO 40100

Title of the Course : Emerging Issues in Indian Economy

Marks : 100 (In-Semester : 40 +End-Semester: 60)

Unit Topic

Unit – I India: The Economic Dimension

Trends in National Income and Per capita Income, Sectoral Composition of National Income; Population Growth, Age and Sex Composition of Population; Occupational Structure – Human Resource Development – Basic Issues and Problems; Poverty and Unemployment – Causes and Magnitude; Inclusive Growth and its rationale.

Unit – II

Agriculture Sector

The Problem of Food Security – Public Distribution System – Farmers’ Suicide – Diversification of Agriculture – Contract Farming – Subsidy to Farmers - Agriculture and Environment – WTO and Agriculture – Non-Farm Sector in Rural India

Unit – III

Industry Sector

Problem of Global Competition – Identification of Industries Having India’s Comparative Advantage: IT Industry – Small-Scale Industry – Industrial Sickness – Disinvestment

Unit – IV

Economic Reforms

Reform in Capital Market: Inflow of FDI and FPI and its Implication for the Domestic Economy – Financial Sector Reform – Fiscal Reform: FRBM Act and its Implication – Center-State Relation – Role of the Private Sector in Indian Economy, Globalisation: Positive and Negative Impacts on Indian Economy

Unit - V

India’s External Sector

Direction of Foreign Trade – Composition of Foreign Trade - Foreign Trade Policy - Balance of Payment: Role of Private Transfer, Software Services and Foreign Capital in BOP – Current and Capital Account Convertibility

Total Credits : 4

Reading list:

1. Bardhan, P., “The Political Economy of Development of India”, OUP.

2. Brahmananda, P.R. and Panchamukhi, V.R., “The Development Process of Indian

Economy”, Himalaya.

3. Basu, Kausik (Ed), “India’s Emerging Economy” OUP.

4. Datt, R. and Sundharam, K.P.M.: Indian Economy, S. Chand.

5. Jalan, Bimal (Ed), “The Indian Economy – Problems and Prospects”, Viking.

6. Kapila, Uma (Ed), “India’s Economic Reforms”, Academic Foundation.

7. Kapila, U.: Indian Economy since Independence, Academic Foundation

8. Sen, A. and Dreeze, J., “Economic Development and Social Opportunities”, OUP.

9. Wadhwa, C. (Ed), “Some Problems of India’s Economic Policy”, Tata McGraw

Hill.

10. Fouseca, A.J. (Ed), “Challenge of Poverty in India”, Vikas.

11. Rao, V.K.R.V., “India’s National Income, 1950-1980”, Sage.

12. Joshi, Vijay and Little, IMD, “India’s Economic Reforms 1991-2001”, Oxford University Press.

Course Code : ECO 40200 Title of the Course : Regional Economics Marks : 100 (In-Semester : 40 +End-Semester: 60)

Unit Topic

Unit – I Definition of a Region – Concept of Regional Economics – Its Content and Importance, Regional Growth Theories – Export Base Model, Neoclassical Model, Input-Output Model, Myrdal’s Backwash Theory; Location Theories, Growth Pole Theory, Concept of Regional Multiplier.

Unit – II

Regional Planning: Definition, Scope and Needs of Regional Planning - Regional vs. National Planning, Role of Decentralized Planning in Regional Development.

Unit – III

Regional Economic Development: Concept of Regional Development, Strategy of Balanced Regional Development, Urbanization and Regional Development; Regional Disparities in India – Goals for Balanced Regional Development and Economic Policy in India

Unit – IV

North East India as a Region - Economic Characteristics of N.E. Region – Centre Periphery Theory in the Context of North East Region - Resource Base of the Region: Mineral, Forest and Water Resources, Human resources: Present Status and Development: Population Composition, Growth Rate, Density and Occupational Distribution – Rural Urban Population – Urbanization – Migration of population.

Unit - V

Sectoral Development of North East India: Agriculture - Trends and Pattern of Production – Land Use and Cropping Pattern – Productivity Level – Food Production and Food Security – Shifting Cultivation in Hill Regions – Modernization of Agriculture; Industry and Infrastructure: Structure of Industrial Production- Causes of Industrial Backwardness and their Remedies – NE Industrial Policy; State of Infrastructure, growth of banking and Financial Institutions - Performance of social sector; Special Agencies for Regional Development – NEC; Potential Areas – Border Trade and Look East Policy.


Reading list:

1. H.W. Richardson (Ed): Regional Economics: A. Reader, Allen & Irwin, London.

2. Nourse, Hugh O.: Regional Economics, Mc Graw-Hill.

3. Goswami, P.C.: Economic Development of Assam, Kalyani, Ludhiana.

4. B. Dutta Roy: Social and Economic Profile of N.E. India, Omsons, New Delhi.

5. NCEAR: Techno Economic Surveys of Assam, Arunachal Pradesh, Manipur and

Nagaland

6. NEC: (a) Basic Statistics of N.E. Region, 1980-85 (b) Towards Regional

Development: Plans and Perspective

7. Government of Assam: Economic Survey and Statistical Hand book (latest)

8. Government of Assam: Vision 2025

Course Code : ECO40310 Course Title : Economics of Agriculture -II

Marks – 100 : (In-semester-40+End-Semester-60)

Unit Topic

I Performance of Indian Agriculture and State intervention: Performance since the 10th five year plan, cropping pattern, Regional variation in agricultural growth with reasons there of, Support price, Agricultural insurance, procurement policy food policy; Public Distribution system- Subsidies-Agricultural taxation and subsidies; Size of land holdings, Changes in land holdings with reasons there of, farming systems.

II Agricultural finance and new technology

Sources of credit: Co-Operative-Rural Bank-NABARD- Micro Finance-SHGs-NGOs-Problems of Capital Formation, Green Revolution and Mechanization, Irrigation, HYV of crops, Food processing.

III Agricultural marketing and Prices

Marketing- Market structure, Organization of market-Marketable surplus-Co-operative marketing-Agricultural price structure-Stabilization of agricultural price and income, Foreign Trade in agricultural products- Magnitude and Trends- Export performance and contribution to the Economy, WTO and Indian agriculture

IV Agricultural labour: Agricultural labour-Employment-Disguised unemployment- seasonal unemployment-Landless labour-Income and Labour Wages-State Policy for Agricultural labour

Total Credits : 4

Reading List:

(A) Text Book

1. Datt, R. and Sundharam, K.P.M.: Indian Economy, S. Chand.

2. Dasgupta, D.: New Agricultural Technology in India, Macmillan.

3. Kapila, U.: Indian Economy since Independence, Academic Foundation.

4. Memoria, C.B.: Agricultural Problems of India, Allahabad.

5. Majumdar, D.N.(ed): Shifting Cultivation in North East India, Omsons,

Guwahati.

6. Soni, R.N.: Leading issues in Agricultural Economics, Sobhanlal Nagin

Chand Son & Company, Jalandhar.

(B) Reference Books:

1. Lekhi, R.K. & J. Singh: Agricultural Economics, Kalyani Publishers,

Ludhiana.

2. Bardhan, P.K.: Land, Labour and Rural Poverty, Essays in Development

Economics, OUP, New Delhi.

3. Indian Journal of Agricultural Economics.

4. Agricultural Cost and Price Commission (Reports)

Course Code : ECO 40320

Course Title : Population Theory and Demographic Analysis - II

Marks – 100 : (In-semester-40+End-Semester-60)

Unit Topic

I Theories of Migration: The Push-Pull Hypothesis, Lee’s Theory, Petersen’s

Typology, Ravenstein’s Laws of Migration, Stouffer’s Theory of Intervening

Opportunities, Zipf’s Gravity Model, Todaro’s Model of Perceived Income and

Employment Opportunities, Sjaastad’s Human Capital Model of Migration.

II Measures of Migration: Concepts, Sources and Quality of data, Measures of

Migration and Method of Estimation: Estimation of Life time and Inter-Censal

Migration from Place of Birth Statistics; Indirect Measures of Net Internal Migration;

Problems of Estimation of Migration Rates.

III Population growth, Population Composition and Distribution: Population Change,

Growth rates and Projections; Age Composition - Factors influencing age

composition; Sex Composition: Factors influencing sex composition, Measures of

sex composition; Population pyramid; Marital and educational characteristics,

Economic characteristic – Dependency ratio, Labour force participation rates; Factors

affecting population distribution; Population density; Urbanization – concepts of

urban place, Urban growth and its components; Measures of urbanization, Urban

concentration.

IV Indian Population: Census and Vital Registration System in India, Trends in

Population Growth, Birth rates, Death rates; Age-Sex structure; Urbanisation Pattern,

Occupational Distribution, Migration, Reproductive Health, Maternal Nutrition and

Child Health Policies, National Population Policy, Rationale of Regional Population

Policy for India.

Total credits: 4

Reading List:

1. Bhende, A.A. & Kanitkar, T.: Principles of Population Studies, Himalaya

Publishing House, Bombay.

2. Sinha, V.C. and Zacharia, E.: Elements of Demography, Allied Publishers Private

Limited, New Delhi.

3. Ghosh, B.N.: Population Theories and Demographic Analysis, Meenakshi

Prakashan, Meerut.

4. Shryock, H.S. et. al : Methods and Materials of Demography, Academic Press,

New York.

5. Srinivasan, K.: Basic Demographic Techniques & Application, Sage Publications,

New Delhi.

6. Rama Kumar, R.: Technical Demography, Wiley Eastern Limited, New Delhi.

7. Lee, Everett., “A Theory of Migration” in J.A. Jackson (ed.) Migration,

Cambridge University Press, Cambridge.

8. Agarwala, S.N.: India’s Population Problems, Tata Mc Graw Hill Publishing

Company Limited, Bombay.

9. Bose, A.: India’s Basic Demographic Statistics, B.R. Publishing Corporation,

New Delhi.

10. Davis, K.: The Population of India and Pakistan, Princeton University Press,

Princeton.

Course Code : ECO40430 Course Title : Environmental Economics – II


Unit Topic

I Environment and Development:

Environment - Development Trade off – Population and Environment - Poverty and

Environment: exogenous and endogenous poverty, policy prescription

II Trade and Environment:

Price Differential, Arbitrage and Trade – Are the Dirty Industries Concentrated in the

South? - Empirical evidence – International Trade and Environment: some further

discussion

III Sustainable Development:

Concept and Indicators - Environmental Accounting – Environmental Impact Assessment,

Policies for sustainable Development - Micro Planning for Environmental and Eco-

Preservation – Watersheds and Joint Forest Management

IV Economics of Environmental Regulations:

The design – Monitoring and Enforcement – Domestic Environmental policy: The Indian

Experience

V Political Economy of Global Environmental Issues:

Climate Change, Loss of Biodiversity, Ozone Depletion, International Conventions and

Protocols –– Pollution Havens

Total Credits : 4

Reading List:

1. Kolstad, Charles D., “Environmental Economics”, Oxford University Press.


3. Shanker, U, “Environmental Economics”, Oxford University Press


Course Code : ECO 40340 Title of the Course : Mathematical Economics-II


Unit Topic

Unit – I Game Theory: Basic definition – Two person Zero-Sum game – pure strategies – mixed strategies – games without saddle point –n x m rectangular games – Graphical Solution, the rules of dominance – two person conversion of game theory and linear programming problem. - Nash Equilibrium - Games of incomplete information - Bayesian Games.

Unit – II

Production Function: VES Production Function – Cost Functions – Producers Equilibrium; Technical Progress and Production Function; Production Possibility Curve; Empirical Uses of Production Function Analysis.

Unit – III

Growth Models: Harrod – Domar growth model, Neo – classical growth models: Solow and Meade; Kaldor’s Model with Technological Progress; Turnpike Theorem; Endogeneous growth.

Unit – IV

Determination of Income and Fluctuations in Income: Classical and Keynes Macro systems; Static and Dynamic Multiplier; Determinants of Investment; Accelerator; Samuelson-Hicks Model of Multiplier and Accelerator - Kalecki and Philips Models; Stabilisation Policy – Rational Expectations and Economic Policy.

Unit - V

The Theory of Optimal Control: Formulation and solution of optimal control problems – the state of the dynamic system – Calculus of variation to Optimal control – Pontryagin maximum principle – Optimal control with equality and inequality constraints – Application of Optimal control theory in renewable and non-renewable resources.


Reading list:

1. J.M. Henderson and R.E. Quandt : Microeconomic Theory : A Mathematical

Approach, McGraw – Hill.

2. A.C. Chiang: Fundamental Methods of Mathematical Economics, Mc Graw Hill,

New York.

3. R.G.D. Allen: Mathematical Analysis for Economists Macmillan India, Madras.

4. Barua, S.: Basic Mathematics and Its Application in Economics, Macmillan India

Limited, New Delhi.

5. Handy H. Taha: Operations Research, Macmillan India Limited.

6. Subik, M.: Game Theory in the Social Sciences, MIT Press, Cambridge.

7. Allen, R.G.D.: Mathematical Economics, ELBS, London.

8. Chow, G.C.: Analysis and Control of Dynamics Economic Systems, John Wiley,

New York.

9. Chiang, A.C.: Dynamic Optimization, McGraw Hill, New York.

10. Allen, R.G.D.: Macroeconomic Theory, Macmillan St Martin’s Press, London.

Course Code : ECO40350 Course Title : Econometric Methods – II


Unit Topic

I Qualitative Response Models:

Models with binary dependent variables- LPM, Probit and Logit Models – Maximum

Likelihood (ML) estimation of the models – Problems in the estimation – Limited

Dependent Variable and Duration Models – Truncated Regression Models, Censored

regression.

II Time Series Econometrics:

Stationarity of Time Series – Random Walk – Auto-regressive (AR) Model – Moving

Average Mode (MA) – Auto-regressive Integrated Moving Average (ARIMA) Models,

Box-Jenkins approach (identification, estimation and diagnostic checking), - Unit Root

Tests – Differencing – Cointegration, Concept and Test of Causality, VAR Models.

III Simultaneous Equation Model:

Two-Way Linkage, Non-Zero Covariance of the Independent Variable and the Error

Term of the Equation – Simultaneous Equation Bias in Least-Square Estimation –

Endogenous and Exogenous Variables – Structural Equation – Reduced Form Equation

– Final Form Equation – Identification of the Simultaneous Equation System

IV Simultaneous Equation Methods:

ILS – 2SLS - 3SLS – FIMLE.


Reading list:

1. Gujarati, D.N.: “Basic Econometrics”, McGraw Hill, New Delhi.

4. Pindyck, R.S. and Rubinfeld, D.L. : “Econometric Models and Economic

Forecasts”, McGraw Hill, New York.

5. Dourgherty, C: “Introduction to Basic Econometrics”.

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