MA - Economics First Year Micro Economic Analysis Economics of Development & Growth Quantitative Methods Public Economics Money, Banking & Financial Markets Second Year Macro Economic Analysis Indian Economic Policy International Trade & Finance Economics of Demography Welfare Economics

Economics of Development & Growth Block 1 Unit 1 Unit 2 Unit 3

Development & Underdevelopment- An Overview Economic Development Indicators of Development Trends in International Gap - Causes, Poverty, distribution -Solutions

Block 2 Unit 1 Unit 2 Unit 3

Theories of Development Classical Theories of Development Karl Marx's Theory of development Schumpeter's Theory of Development

Block 3 Unit 1 Unit 2 Unit 3 Unit 4

Theories of Growth Solow & Meade's Modeu Joan Robin on Models of Growth Growth models of Harrod & Domar Growth models of Kaldor & Pasinelti

Block 4

Approach to Development & Growth

Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6 Unit 7 Unit 8

Stages of Growth- WW Rostow Theory Lewis unlimited supply of labour Balanced & Unbalanced growth Leibeinstein's Critical-Minimum Effort Rosenstein's Rodan's Big-Push Theory Nelson's Low Income Equilibrium Trap Dualistic Theories- Technical-Social and behavioural Ranis & Fei models - Process of Cumulative Causation- Process of Cumulative

Block 5 Unit 1 Unit 2 Unit 3 Unit 4

Social & Institutional Aspects Population & Economic Development Harris Todaro Model of Unemployment Economic Development & Institutions Market - Market failure Human Resource Development

Block 6 Unit 1 Unit 2 Unit 3 Unit 4 Unit 5

Sectoral Aspects of Development

Block 7 Unit 1 Unit 2 Unit 3 Unit 4

Macro Economic policies & Development Monetary & Fiscal Policies in developing countries Domestic resources for development inflation & development deficit financing & development

Role of Agriculture in Development Role of Industry Role of Capital Trade & Economic Development Macro Economic Policies & Development

MICRO ECONOMIC ANALYSIS Block I

Micro-Analysis and Basic Problems

Unit 1 Unit 2 Unit 3 Unit 4

Introduction to Micro Analysis and Basic Problems,Concept - Micro - Macro fundamental problems Methods of Economic Analysis,Statics, Comparative statics - Dynamics Tools in Economic Analysis,Mathematical and Statistical Methods Equilibrium,Concept-Kinds-features & Equilibrium

Block II Demand Analysis and Consumer hehaviour Unit 1

Unit 3

Demand Analysis,Concept - Law of demand - Elasticity of Demand Theories of Demand,Cardinal approach - Utility - Law of diminishing marginal utility-Equi-marginal utility-consumer's surplus Ordinal Approach,IC Analysis -Slustsky Theorem-Compensated Demand curveApplication of IC

Unit 4

Revealed Preference- Theory & Nellman- Morgenstern Theory: Revision of demand theory by Hicks,Characteristics of Good approach

Unit 5

Recent Developments in Demand Analysis,Pragmatic Approach and Linear Expenditure systems

Block III

Theory of Production and Cost

Unit 1 Unit 2

Law of Supply and Elasticity of Supply,Theory of Price Formation - Demand & Supply Equilibrium - Cob-web Theorem- Lagged adjustments in interrelated markets. Production Function

Unit 3

Iso-Quants,Least - Cost Combination of Inputs - Returns to factors Economies of scale

Unit 4

Multi-Product Firm,Elasticity of Substitution - Euler's Theorem-technical progress and production function- Cob-Douglas variable Elasticity of Substitution (CES)Translag Production Function - Empirical work on production function

Unit 5

Traditional and Modem Theories of cost,Empirical evidence - Derivation of costs from production function-Derived demand for factors

Block IV

Price and Output determination

Unit 1

Marginal Analysis,An approach to price and output determination

Unit 2

Perfect Competition,Features-Short & Long determination

Unit 3

Monopoly,Features - Price & Output determination - price - Discrimination welfare aspect - Monopoly control

Unit 4

Monopolistic Competition,Features - Chamberlin's approach to Equilibrium of a firm and Group-product differentiation - selling costexcess capacity under monopolistics and imperfect competition - criticism

Unit 2

period

price - output

Unit 5

Oligopoly,Features-Price &output determination under Non- collusive market (curnot, Bertrand, Edgeworth, Chamberlin-Kinked demand curve) and Stakelberg's solution

Unit 6

Price Determination under Collusive Market,Cartels- Mergers-priceleadership-leasing point-price system

Unit 7

Price & Output Determination under Monopsony and Bi-lateral monopolyworkable competition structure-conduct and performance norms

Block V

Alternative Theories of the Firm

Unit 1

Baumol's Sales Revenue Maximization,Baumel's model, william's modelHarris model of Marginal Enterprise - full cost - pricing rule

Unit 2 Unit 3

Bam's Limit Pricing Theory,Ballin's Theory -It's recent development including Syloslabin's model Behaviour Model of the Firm,Game Theoretic Models

Block VI

Distribution

Unit 1

Neo-classical Approach to Ditribution ,Productivity Theory - Product exhaustion theorem- Elasticity of Technical sub titution - Technical Progress and factor shares

Unit 2 Unit 3

Theories of Distribution in Impelfect product & Determination of Rent, Wages, Interest & Profits Macro Theories of Distribution,Ricardian, Marxian, Kalecki and Kaldor

Block VII

Equilibrium

Unit 1 Unit 2

Partial and General Equilibrium,Walrsian excess demand and output - input approach - existence of stability & uniqueness of equilibrium Coalitions and Monopolies Production,Hicksian perfect & Instability

Unit 3

Production without Consumption,One sector model - Production without consumption - Two sectors model

Money, Banking & Financial Markets

Block 1 Unit 1 Unit 2

Block 2 Unit 3

Unit 4

Unit 5

Money Money & it's functions Concept - Kinds of Money - Functions Role of Money in different Economic systems Capitalistic Economy & Role of money - role of money in socialistic economy - Mixed economy & Money, Sigificance of Money and its implications Banks & Non Banks Banking Organisation & Structure Banking concept, Banking organization-Types of Banks - Role of commercial Bank in a developing economy Theories of Commercial Banking Theory of Portfolio - Management Shiftability Theory, Liabilities management theory, Anticipated Income Theory

Block 3

Balance Sheet of a Commercial Bank Assets-Liabilities-Investment policy of commercial Bank Functions of commercial bank Accepting deposits, Advancing loans Credit-creation- Agency services-Miscellaneous services Function of Credit Creation Credit creation & its limitations Non Banking financial Intermediaries(NBFI) Role of NBFI, NBFI and Less Developed Countries- NBFI and Monetary policy Banking Practices

Unit 9

Types of Accounts & Types of Account holders

Unit 10

Types of Accounts-Account Holders- Instruments used in the operation of accounts-Negotiable Instruments Types of Bank Advances & Lending Operations

Unit 11

Banks & Customers

Block 4

Central Banking

Unit 12

Role of Central Bank in Development

Unit 6

Unit 7 Unit 8

Concept-evaluation-Role of Central Bank in Development Unit 13

Functions of Central Bank

Note-Issue, Banker's Bank, Agent & Advisor, Lender of Last Resort Unit 14

Functions of Credit Control Bank Rate Policy

Unit 15

Open Market-Operations

Unit 16

Variable-Reserve-Ratio

Unit 17

Selective Credit Control

Block 5

Financial Markets

Unit 18

Money Market

Unit 19

Meaning-Constituents-Institutions of Money Market- Functions of Money Market Features of Money Market

Unit 20

Features of Money Market in Developed and less Developed Countries Capital Market Concept-Constituents-Feature

Block 6

British and American Banking Systems

Unit 21

British Banking System Development & Features

Unit 22

Bank of England Special features and functions of Bank of England

Unit 23

British Commercial Banking Structure The Big Four-Innovative Bank

Unit 24

London Money Market Acceptance and Discount houses-parallel markets.

Unit 25

American Banking System

Unit 26

Evolution-Features-Commercial Banking system Federal Reserve Banks-Their structure and functions The federal Reserve Board & it's functions

Unit 27

Open market committee-Real Bill Doctrine-Discount Rate-Variable Reserve Ratio-Selective Credit Control New York Money Market Features and Functions

Block 7

Indian Banking System

Unit 28

Commercial Banking Evolution, Social Control, Nationalisation & after, SBI & RBI and their functions Development Banking in India

Unit 29

IDBI, NABARD, IFCI, IIBI, SIDBI Unit 30

Investment Institutions UTI, LIC, GIC, SFC SIDC, ICICI

Public Economics Block I - Nature & Scope of Public Economics Unit 1

Nature·& Scope of Public Economics What is public Economics?-Its -relationship with Economics TheoryMonetaryEconomics- Welfare- Economics-Development Economics

Unit 2

Unit 3 Unit 4

Role of Government Economic justification for government Interference- Market failures Pareto optimality - Externality- Decrossing cost-supply of public goods, Role of sectors- Cooperation or competition Allocation & Distribution Functions of Government Stablilization & Development functions of Government

Block II - Public Choice Unit 5 Unit 6 Unit 7

Private & Public Mechanism for Allocating Resources Problem of preference Revelation and aggregation of preferences Voting system Arrow's Impossibility Theorem-An Economic Theory of Democracy Politico-Economic Interaction Rent-Seeking and Directly Unproductive Profit Seeking (DUP) activities

Block III - Rationale for Public Policy Unit 8

Unit 9 Unit 10 Unit 11

Provision of Public Goods Voluntary Exchange Model-Samuelson and Musgrave's contribution to provision of public goods. Demand Revealing Schemes for Public Goods Clark, Grover and Ledyard Theories-Theory of -Club goods by Tiebout Keynesian Stablilisation Policy Failure of Inter temporal Markets-Liquidity preference Theory of Social Goals Poverty alleviation-Removing Inequalities

Block IV - Public Expenditure Unit 12

Init 13 Unit 14

Wagner's Law of Increasing State Activity and Wiseman-Peacock Hypothesis Pure Theory of Public Expenditure-Structure and Growth of public Expenditure Social-cost-Benefit Analysis Project Evaluation-Estimation of costs-Discount Rate Reforms in Expenditure Budgeting

Performance Budgeting, Programme budgeting and Zero-base budgeting

Block V - Sources of Public Revenue Unit 15 Unit 16 Unit 17 Unit 18 Unit 19

Unit 20 Unit 21

Taxation Concept-Types, Canons of Taxation-Nature of Taxation Theories of Taxation Concept-Types, Canons of Taxation-Nature of Taxation Theory of Optimal Taxation Excess Burden of Tax, Equity & Efficiency Theories of Incidence Meaning-Shifting-Musgrave's contribution to Incidence Public Debt Classical Theory of Public Debt, Compensatory aspect of Public Debt Policy Sources of Public Debt Debt through created money Borrowings- Types of Borrowings Principles of Debt Management & Repayment Problems and Solutions

Block VI - Fiscal Policy Unit 22

Unit 23

Unit 24

Fiscal Policy Objectives of fiscal policy-redistribution of Income- Stabilisation-Fiscal policy in LDCs Interdependency of Fiscal & Monetary Policies Interdependency of fiscal &. monetary policies- Budgetary deficits and its implications Fiscal Policy & Stabilisation Automatic and Discretionary measures-their impact on growth. Distribution-Balanced budget multiplier

Block VII - Fiscal Federalism Unit 25 Principles of Multi Unit Finance (Fedral) Unit 26 Fiscal-Federalism in India Vertical & Horizontal imbalances-Assignment Revenue-Constitutional provisions Unit 27 Finance Commissions Tax Devolution & Grants-in-aid Unit 28 Resources Transfer

of Functions-Sources

of

Transfer of Resources from Union to States-Criteria of Transfer of Resources Unit 29 Centre & Stated Financial Relations in India Problem of State's resource -Indebtedness Unit 30 Transfer of Resources from Union & States to Local Bodies

Quantitative Methods Block 1 Unit 1

Mathematical Methods - I Functions & Functional Relations

Unit 2

Number systems, Concept of function - Types of functions-Linear & Non-linear functions Application of Linear functions in Economic Analysis

Unit 3

Demand & Supply functions Market equilibrium with linear functions-Impact of Tax & Subsidy on market equilibrium Application of Non-Linear functions in Economic Analysis

Unit 4

Parabolic, hyperbolic functions and their application to economic analysis - Market equilibrium-Price and quantity- Production- Transformation curves- Pareto's Law of Income Distribution Differential Calculus

Unit 5

Limit of a variable - Theorem as -limits-Concept of continuity, Derivative of a functionRules of Differentiation of algebraic functions Application of Differential Calculus to Economics Cost Functions, Revenue Functions, Elasticity of Demand, Relationship between elasticity of demand, Average revenue and Marginal revenue Functions, Non-linear Revenue & Cost functions

Block 2

Mathematical Methods - II

Unit 6

Application of Differential Calculus to Economics - II -

Concept of Maxima & Minima - Conditions for Maxima and Minima

Unit 7

Application of Calculus III

Revenue maximization and cost Minimization-profit maximization

Unit 8

Functions with several variables

Differentiation of several variables - Marginal Cost Functions - Nature of commodities

Unit 9

Application of several variable functions

Production function-Returns to scale-Cobb-Douglas production function

Unit 10

Integral Calculus

Definite and Indefinite Integrals - Simple rules of integrals

Unit 11

Application of Integral Calculus

Cost and revenue functions - Consumer's surplus and producer's surplus

Block 3

Mathematical Methods - III

Unit 12

Matrix Algebra

Concept of Matrix - Types -Simple Operaions on Matrix - Concept of determinant

Unit 13

Crammer's rule and its Applications Crammers Rule to solve a set of simultaneous equations - National Income model-Inputoutput model

Unit 14

Linear Programming

Concept-Formation of linear programming problem, Its structure and variables, nature of feasible & basic solutions of linear programming through graphical & simplex methods

Block 4

Statistical Methods - I

Unit 15

Meaning & Scope of Statistics

Descriptive and Inductive statistics-Importance-scope & limitations

Unit 16

Data Collection - Classification & Tabulation Sources of data & statistical enquiry/survey method of collection of data-statistical errors, Classification &Tabulation of Data-Presentation of data

Unit 17

Diagrammatic Representation of data Types of diagrams in statistics, Pie-diagram, Histogram, Ogive curve-Limitations of Diagramatic & Graphical representation of data

Unit 18

Measures of Central Tendencies -I Calculation of arithmetic mean, Combined Arithmetic Means, Weighted arithmetic means of grouped and ungrouped data, Merits and Demerits of mean

Unit 19

Median , Mode ,G.M & H.M. Calculus of Medium, Mode, Geometric mean and Harmonic mean for grouped and Ungrouped data their merits and demerits

Block 5

Statistical Methods - II

Unit 20

Measures of Dispersion

Range, Mean deviation, Quartile deviation

Unit 21

Standard Deviations

Standard deviation variable-Lorenz Curve-Their Merits & Demerits - Gini's coefficient

Unit 22

Measures of Skewness & Kurtosis

Karl Pearson's Measure of skewness- Bowley's Measures of skewness - Kurtosis

Unit 23

Measures of Correlation-I Meaning of Correlation, Partial-positive & negative correlations, linear & Non linear correlations-Graphical method of measuring correlation-Limitations

Unit 24

Measure of Correlation-II

Theoretical Distributions- Permutation & Combination, Binomial Distribution Karl Pearson's coefficient of correlation - probable error - correlation of grouped datarank correlation-Coefficient of concurrent derivations

Unit 25

Regression Analysis Meaning-Distinction between correlation and Regression-Coefficient & RegressionRegression equation of two variables-Standard error

Block 6

Statistical Methods - III

Unit 26

Analysis of Time-Series

Components of Time series-Methods to overcome fluctuations in the Time seriesFree hand method-The semi average method. The moving Average method- Fitting a linear curve to given data by the method of least squares

Block 7

Statistical Methods - IV

Unit 27

Index Numbers-I Definition-Construction of price Index Numbers - Problems of ConstructionMarshall & Edge worth and Fishers Ideas-weighted average of price relatives Quantity Index Numbers-Mathematical test for consistency - Time reversal test-factor reversal test and circular test

Unit 28

Index Numbers-II Shifting the base period; Splicing two Index Number series - Consumer price Index Numbers- Average expenditure method-Family budget method-Uses of Index Numbers

Unit 29

Probability Theory Deterministic and Non deterministic experiments- various types of events-Classical and empirical definitions of probability. Laws of additions and multiplications-Conditional probability and conccept of Interdependence-Baye's Theorem and its applications.

Unit 30

Theoretical Distributions Permutation and Combinations - Binomial distribution - Their properties-Elementary problems on these distributions

M.A ECONOMICS Year II Course : I MACRO-ECONOMIC ANALYSIS Block I

Macro Economics Analysis and National Income Accounting

Unit : 1 Unit : 2

Block : II Unit : 3 Unit : 4 Block : III Unit : 5

Unit: 6

Unit : 7 Unit :8

BLOCK : IV Unit : 9

Unit : 10

Unit : 11

Unit : 12 Unit : 13 Unit : 14 Unit : 15

BLOCK : V

Nature & significance of Macro Economic Analysis. Concept – Nature & Significance – Closed & Open Economy National Income & Its Accounting Different Concepts – Methods & Problems

Classical Theory of Employment & Output Aggregate Supply & Aggregate Demand Classical Approach – Equilibrium at full employment Classical Theory of Employment Say’s Law of Market Keynesian Theory of Employment and output Aggregate Supply & Aggregate Demand Equilibrium with Unemployment Effective Demand – Consumption Function Concept – Psychological Law – APC & MPCA & MPS Factors determining consumption function. Trends in Income Multiplier Concept - Features – Significance Investment Function MEC - Interest rate - Factors determining investment function Supply & Demand for Money Supply of Money Concept - Measuring Money (M1, M2, M3) Credit Money - Instruments of credit money. Demand for Money Classical Approach to demand for money Quantity Theory - Cambridge Theory Keyne's Theory of Demand for Money Total Demand for Money - Three Motives (L1, L2, L3) Savings & Investment Theory Post - Keynesian Theories of Demand for Money Real Balance Effect - Baumol and Tobin's Approach Milton- Friedman's Wealth Theory of Demand for Money Financial - Intermediaries :Bank- Rerserve Bank-Non-Bank - Financial intermediaries. Control of Money Supply Quantitative & Qualitative MethodsProblems in Controlling Money Supply Thoeries of Interest

Unit : 16 Unit : 17 Unit : 18

BLOCK : VI Unit : 19 Unit : 20 Unit : 21 Unit : 22 Unit :23 Unit : 24 Unit : 25 Block : VII Unit : 26 Unit : 27 Unit : 28 Unit : 29 Unit : 30

Neo-Classical Theory of Interest Keynes Liquidity Preferences - Theory of Interest Modern Theory of Interest Rate IS & LM Curves - Extension of IS & LM to cost sector Relative effectiveness of fiscal & monetary policy - Extension of IS & LM model to labour Market & Flexiblee priices. Theories of Business Cycle and Economic Instability Business Cycle Concept - Features - Phases - Causes Thories of Business Cycle : Schumpeter & Kaldor Samuelson's Theory of Business Cycle Hicksian Theory of Business Cycle Monetary Theories of Business Cycle :- Hayek & Hawtrey Economic Instability Inflation- Philip's Curve- Inflatory Gap - deflation - Deflationary Gap Government's Role in Stabilising Busness Cycle :- Monetary and Fiscal Policies Macro-Economics & Open Economy and New Classical Micro-Economics Macro- Economics in an Open Economy:- Mundel- Fleming Model- Asset Markets- Expectations Exchange Rates Monetary Approach to Balance of Patments New- Classical Approach:New- Classical Approach, Critique of Micro Foundations Policy Implications of New Classical Approach :- Empirical Evidence Books for reference: 1. Ackley (1978): Macro Economic Thoery and Policy 2. Black House R and Salansi (2000) : Macro Economics and Real World 3. Dorn busch .R and F Stanley (1997) : Macro Economics 4. Heijdra B.J and B.P Fredericck (2001) : Foundation of Modern Macro Economics 5. Romer .D.L (1996): Advanced Macro Economics

Course: II INDIAN ECONOMIC POLICY BLOCK : I Unit : 1

Unit : 2

Economic Development - A Theoretical Background Economic Development & Its Determinants:Concept - Fcators that determine Economic Development Economic & Non-Economic factors - with referenceto India Different Approaches to Economic Development &7Its Measurement in India Increase in GDP-per capita-equitable Distribution of Income & Wealth -Development

Unit : 3

BLOCK : II Unit : 4 Unit : 5 Unit : 6 Unit : 7 Unit : 8

Block : III Unit : 9 Unit : 10

Block : IV Unit : 11

Unit : 12

Unit : 13

Indicators- National Income - Methods - Threee Methods - PQLI, HDI- Gender Development in India Features of Indian Economy Backwardness- India as Developing Economy - i.e, Trends in N.Y - India as Dualistic EconomyMixed Economy - Planning Economy Natural Resources & Human Resources:Natural Resources & Ecological Balance Different natural resources & Ecological Imbalance Population & Economic Development in India Population - size & growth - Causes for rapid growth. Problems of Over-population in India Different problems - Population-Policy Human Resource - Development in India Concept-Significance - Social Infrastructure -Manpower Planning - Government policy Role of Infrastructure and Economic Development in India Energy , Commerce - Power, Transport. Planning Strategy in India Planning Strategy and its achievements Concept, Features, Achievements and failures of planning. Decentralized Planning Development of Grass-roots organisations, Panchayats, NGO's & Pressure groups. Agricultural Sector Problems of Agricultural Sector Features, cropping pattern, productivity, Institutional structures, Land reforms, Technological changes, economic & social factors, Agricultural labour Agricultural Finance and Agricultural Marketing Needs - sources- Constraints & Solutions, Agricultural Marketing - Problems & Government Measurers Agricultural Policy Policy for sustained agricultural development ,Pricing of Input & Output- Agricultural price policy, Food Security and public Distribution policy-Investment and subsidy policyNational Agricultural policy

Block : V Unit : 14

Industrial Sector Problems of Industrial Sector

Unit : 15

Industrial Policy Features of Industrial policy and its limitations Public Sector Enterprises and their Problems Role of Public Sector, Performance and problems. Problems of Large scale and small scale Industries and their problems

Unit 16 Unit : 17

Unit : 18

Privatization and Disinvestment Policy Disinvestment Programme, Issues of privatization, Private sector in the post-liberalization period , MRTP Act.

Block : VI Unit : 19

Money, Banking & Public Economic Poicies and Fiscal policies in India Supply of Money in India Factors influencing Money Supply - Price Behvior- Interest rate policyAnti-Inflationary policy of the government Money and Capital Markets in India Features, Functions-SEBI Banking in India Banking reforms and its Impliccations Appraisal of the monetary poicy of the RBI. Fiscal Policy : I Public Expenditure-Composition- Trends- Causes, Tax and Tax Reforms, Deficit financing, Public Debt Fiscal Policy : II Fiscal Policy and Growth performane of the economy , Fiscal Policy and Equity, Fiscal imbalances, New fiscal approach

Unit : 20 Unit : 21

Unit : 22

Unit : 23

Block : VII Unit : 24 Unit : 25 Unit : 26

Unit : 27 Unit : 28 Unit : 29

Unit :30

External Sector and Economic Reforms Forerign Trade in India Structure-Features-Trends Balance of Payments Problems of Balance of payments- Capital account financing the deficit Export and Import Policies Export and Import Policy prior to Liberalization-Export and Import policy in post Liberalization period, Issues in Export policy, Problems of Import policy-Export promotion & Import substitution-FEMA Foreign Exchange Rate Trends during plan period , Foreign Exchange Rate policy Foreign Capital and MNCs in India Need for foreign cpital - Problems, role of MNCs Rationale of Internal And External Reforms Need for Internal & External Reforms Their Implications , Progress of Trade Reforms Globalization of Indian Economy Concept_Globalization and its impact on Agriculture and Industry - Export and Import, WTO-Issues in Good Governance, Issues in competition & safety nets in Indian Economy Books for reference 1. Ahluwalia.I.J : India's Economic Reforms and Development and I.M.D Little (Ed) 1999 2. Dantwala M.L (1996) : Dilemma's of Growth : Indian Experience 3. Bardhan P.K (1999) : Political Economy of Development in India

4. Bawa.R.S and P.S Rreikhy : Structural Changes 5. Bralhmananda.P.R (2001) : Development Experience in the Indian Economy And P.K Panchamukhi 6. Misra and Puri (2001) : Indian Economics 7. R.B.I Bulletin : Various issues

Course : III INTERNATIONAL TRADE AND FINANCE Block: I

Theories of International Trade

Unit: 1

Need - INT & IT-Specialization and Trade -Effects on Efficiency, Trade and Economic Development Classical Theory of INT Absolute advantage, Comparative advantage, Oppurtunity cost, Empirical testing of the Thory-Trade under constant cost conditions Modern Theory of INT Factor-Price Equalization, Samuelson's Theory. Heckscher-Ohlin Theory of Trade Assumptions-Factor abundance -factor price factor intensity reversal Leontef -Method of Testing- Leontef paradox Kravis & Linder's Theory of Trade Kravis & Linder's demand pattern Hypotthesis- Overlapping demand Rybczynski Theory Concept- policy implications of Immiserising growth-causes of emergence & measurement of Intra-Industry Trade and Its Impact on Developing countries

Unit : 2

Unit : 3 Unit : 4

Unit : 5 Unit : 6

Block : II unit : 7

Unit : 8

Unit : 9

Unit : 10 Unit : 11

Unit : 12

Measurement of Gains Gains from Trade – I Meaning -basis for trade -factors determining gains-gains from export and import specialization & gains from the trade Gains from Trade – II Gains from trade in case of Big & small countries. Gains in the case of free trade Vs no trade -gains in the case of restricted trade & No trade Terms of Trade Concept-Types-factors affecting terms of trade- Reciprocal demand, Changes in factor endowments-changes in Technology - changes in growth-TariffsTerms of Trade estimation Tariffs Meaning-types of Tariffs-effects of tariffs under partial and general equilibrium Optimum Tariffs & Welfare Effects of Tariffs on income distribution - Stolper and Samuelson TheoremTariff welfare-small nation model-Tariff welfare & large nation model, tariff effects Quotas Meaning -different types of quotas -import quotas and their effects -

Unit : 13

Unit : 14

Block : III Unit 15 Unit 16

Block : IV Unit : 17

Unit : 18

Unit : 19

Block V Unit : 20

Unit : 21

Unit : 22

Unit : 23

export quotas and their effects. Tariffs Vs Quotas The equivalence of Tariffs & Quotas-visible and invisible effects-Tariffs preferred to quptas -orderly marketing agreements Non-Tariff Barriers Subsidies-types-dumping-In price discrimination-excess capacities-Anti Dumping regulations other non-tariff barriers viz, Government Procurement policies-social regulation-sea-transport -frieght restrictions.

Free Trade Policy Concept -arguments in favour of free Trade- Limittions Trade Protection Policy Meaning -arguments in favour of Trade protection-limitations -case study agreements Balance of Payments Meaning & Components of Balance of Payments Meaning - Different concepts of balance of payments - components of balance of payments Current account & capital account - Statistical discrepancy -errors & omissions Current account deficits-Net foreign Investment and current account. Equilibrium and Disequiibrium of Balance of payments Forerign Exchange Market & Foreign Exchange Rate Meaning -foreign exchnage market -spot & forward markets, Meaning of exchange rates. Types of exchange rates-Exchange rate determinants-Trends in Exchange. Theories of Foreign Exchange Rate Mint-par theory-purchasing power parity theory-Balance of payments theory Balance of Payments & Adjustment Balance of Payments & Adjustment under Gold standard-Adjustment under flexible & fixedexchanges rates.Adjustments through capita market through Income changes - stimulation of exports Exchange Rate Adjustment & Balance of Payments Mechanism Effect of exchange rate on cost & price -elasticity, Approach- Marshall & Lerner Mechanism Absorption approach-The Monetary approach - Direct control-Devaluation , Overvaluation-Adjustments in developing countries Balance of Payments Policy : Internal & External Equilibrium Expenditure reducing policy-Expenditure Switching policy , Swan modelpolicy measures-Mundellian model-Internal & External balance with Monetary & Fiscal policies-fixed & flexible rates and perfect Capital mobolity, critical Review Foreign Trade Multiplier

Unit : 24

Unit : 25 Unit : 26

Unit : 27 Unit : 28

Block : VII Unit : 29

Unit : 30

Concept-foreign repercussions-Implications of ForeignTrade Multiplier & National Income-Criticism -Fixed and flexible foreign exchange rate practices in developing countries Economic Cooperation Concept- Benefit of Cooperation -Types of Cooperation/Integration -Co-operation & Free Trade areas- Common Market- Economic Unions- Customs Unions -Theory of Customs unions European Unions (EU) & North American Free Trade Agreement (NAFTA) European common market- European unions - Nafta Economic Cooperation Among Developing Countries Asia-Economic Co-operation-SAARC-SAPTA-ASEAN-UNCTADProblems in developing customs in the Asian region Multilateralism & WTO Meaning -Objectives of WTO-Regional Integration Vs Multilateralism Foreign Trade & Multinationals Role of Multinationals in developing countries - Merits & Demerits. International Monetary system World Bank Objectives-functions-Resources -world bank & LDCs -Limitations of Word Bank operations I.M.F Objectives-functions-Resources --SDR/ Paper gold - international liquidity - IMF & LDCs Books for rerference 1. Carbough R.J (1999) : International Economic 2. Dana.M.S (2000) : International Economic 3. Dunn R.M and J.H Mutti (2000) ; International Economics 4. King .P.G (1995) : International Economics and International Economic Policy 5. Krugman P.R and M. Obstferd : International Economic -Theory and Policy 6. Francis Cherunalim (Recent Edition) : International Economics 7. Mundell.R (1968) : International Economics

Course : IV ECONOMICS OF DEMOGRAPHY

Block : 1 Unit : 1 Unit : 2

Theory of Demography Transition Nature and scope Demography Concept-Nature-Scope-Importance Theory of Demographic Transition Views of Medows - Enke & Simon

Block : II Unit : 3

Unit : 4 Unit : 5 Unit : 6 Unit : 7 Unit : 8 Block III Unit : 9

Unit : 10

Population & Development Role of population in Development Population -Accelerating factor -Human capital Formation - population -retarding factor Malthus' Pessimistic Theory of Population Assumptions - Explanation - Criticism Optimistic Theories of Population Marxian Theory of population Keynesian Theory of Population Cannos Optimum Theory of Population Population and Economic Development of Less developed Countries Structure of Population Population Trends in the 20th Century Population explosion-pattern of age-sex, structure of population in developed countries and less developed countriesDeterminants of age and sex structures. Demographic Effects of Population Structure Demographic effects of sex and age strtuctureEconomic & social implications -Age Pyramids & Projections Individual aging & Population Aging

Block : IV Unit : 11

Fertility & Mortality Theories of Fertility Importance of study of fertility - Trends of fertilityFactors affecting fertility - Socio-economic factorsHealth - Education -Nutrition-caste-race-ruralurban-status of husband & wife

Unit : 12

Biological Theories & Hypotheses of Fertility Assumptions - Criticism

Unit : 13

Socio-Cultural and Economics Theories Hypotheses of differetial fertility

Unit : 14 Unit : 15

Thoery of stage population Marriage Concept- Analysis of Maritial status - Ttrens in age at marriage Measurement of Fertility Some proximate determinants Mortality Death rates - Mortality at birth -Infant Mortality - Trends in Mortality-

Unit : 16 Unit : 17

Unit : 18

Block : V Unit : 19

Unit : 20

Unit : 21

Block VI Unit : 22

Unit : 23 Unit : 24 Unit : 25

Sex & Age pattern of Mortality -Factors for decline in Mortality in recent years Measurement of Mortality & Life table Construction & Uses - Concept of stable population Methods of population Projection Migration & Urbanization Migration & Population Change Concept -types- Temporary migration -Internal & International Causes for International Migration. Its effects on population growth & patternFactors affecting migration. Theories of Migration Theory related to Internal migration-urbanization-growth, Distribution of Rural & Urban population in developed & Developing countries Models of Migration & Measurement Techniques Classical & Neo-Classical models - Lewis model- Todaro model. Population & Human Development Isssues Population change & Environment Protection Ecological Disequilibrium - Types of population Trade-off between Environment & Development Population &Education Problems - Education Policy Manpower Economics & Manpower Supply Economics of manpower supply-Balance sheet of manpower Manpower Economics & Manpower Demand Economics of Manpower , Manpower -planning

Block : VII Unit : 26

Demographic Database in India and World Population Fertility & Mortality in India Marriage - Pattern-Rates-Trends

Unit : 27

Different Aspects of Demography in India Density - Literarcy -Sex ratio-Population by religious groups Food & Nutrition positions in India Importance -problems Study of Census in India Methodology -Nature of census-Census of 1971,1981,1991,2001 World Population Trends of World population-Food crisisRecommendations of International conferences on population

Unit : 28 Unit : 29 Unit : 30

Books r reference: 1. Bose .A (1996) : India's basic demographic statistics

2. Choubey P.K (2000) : Population Policy in India 3. Bogue (1971) : Principles of Demography 4. Srinivas .K (1998) : Basic Demographic Techniques and Applications 5. Simol J.L (1992) : Population and Development in poor countries 6. Srinivasan K and A. Sharieff (1998) : India towards population and demographic goals

Course : V WELFARE ECONOMICS Block : I Unit : 1 Unit : 2

Block : II Unit : 3 Unit : 4

Unit : 5 Unit : 6 Unit : 7

Unit : 8 Unit : 9 Unit :10

Block : III Unit :11

Nature & Scope of Welfare Economics Nature & Scope of Welfare Economics- I , Concept -Nature Welfare Economics & Ethics , Welfare conditions. Nature & Scope of Welfare Economics -II Different functions of welfare state - Social serviceSocial securities-Full employment & Economic development Nationalization of Industries - Protection of civilParticipation of peopleAdvantages & Disadvantages of welfare of state Pre-Paritian Welfare Economics Evolution of welfare state Welfare states Vs other states-Historical Evolution -Free trade of classical economists Benthanite Approach to Aggregrate Welfare Optimum resource allocation & Welfare maximization Assumption of Uniform Income-Benthan and utilisation conceptUtility functions of an individual Individual Consumption Income Distribution Question of income distribution -Interpersonal comparision of utility Marshallian Welfare Economics Concept of Consumers' surplus-Measurement of C.SDifficulties in measurement - Criticism The Compensation Principle Principle of Compensation Variation Concept of Consumers' surplus- Hicks' four principles of consumer surplus Scientific Socialism A Socialist Economy -development in Socialism since Marx Paretian Welfare-Economics Pareto Optimality Concept-Optimum conditins for maximising welfare : a)Optimum Production condition b) Optimum Consumption conditions c) Optimum Exchange conditions - Contact Curve -To level optimum -

Institute number of Non-Comparable optima Vs uniques social optimum-criticism Block : IV Unit : 12 Unit : 13 Unit : 14

Compensation Criteria I Contribution of Barone Contribution of Kaldor Contribution of Hicks

Block : V Unit : 15

Compensation Criteria II Political Aspects of Welfare Contribution of Scitovsky Double Criterion-Concept of Community Indifference map.

Unit : 16

Contribution of Samuelson Utility possibilty curve-Value Judgement and welfare Economics

Unit : 17

Contribution of Burgson Social welfare functions -Arrow's possibility Theorem

Block : VI Unit : 18

Some Later Developments Piguovian Welfare Economics Problems on Non-Markets interdependence Externalities of production and consumption. External Economics & Diseconomies External Economics & Diseconomies in a competitive situation. Welfare & Efficiency Welfare criteria- Efficiency criteria-Other factors like Demand-Public expenditure Theoretical Measurer of Economic Welfare Economic Welfare - Earned income - Other incomes-Taxes -ExpendituresIntra family transfers - Non Market-Activities and Leisure times The Empirical Measures of Economic Welfare The study of economic oppurtunity Standardising by family size-Components of Economic -welfare-Net worth The Distribution of Economic welfare Presentations of results - Current Money Income-Cash components of Economic Welfare measure , Demographic characteristics & Economic welfare measure Increasing returns & Economic Progress Interdependent Utilities Interdependent Utilities & Interdependence of Investment decisions.

Unit : 19 Unit : 20 Unit : 21

Unit : 22

Unit :23

Unit : 24 Unit : 25

Block : VII Unit : 26 Unit : 27 Unit : 28 Unit : 29

Non-Welfare Issues in Welfare Economics Optiumum Tariff Structure Pricing of Public Utility Undertakings Utility Strategy & Social Decision Rules Conceptualising Welfare/Efficiency Relationship

Unit : 30

Output/Taxation relationships - policy implications of the output tax curve Taxation and Public expenditure relations to aggregrate demand. Policy Implications & Future Direction Significance of the welfare measure - future decisioncalculating economic -welfare for young families-Distribution of welfare for younger familiesBenefits from government programmes for aged Books for reference 1. Arrow K.J (1951) : Social Choice and Individual Values 2. Baumol W.J (2001) : Welfare Economics 3. Broadway R.W and N. Bruce (1994): Welfare Economics 4. Graaff J De. V (1957) : Theoretical Welfare Economics 5. Nicholas (2001) : Economic Thoery and the Welfare state 6. Pigou A.C (1962): Economics of Welfare