Economics Fourth Semster Syllabus

Unit 01: Structure of the Indian Economy

·         Natural Resources.

·         Human Resources.

·         Economic Development.

·         Size and Growth Rate of Population in India.

·         Population Explosion.

·         Population Policy.

·         National Income of India.

·         National Income Estimates in India

·         Trends in National Income.

·         Inequalities of Income in India.

Unit 02: Agriculture Sector in India

·         The Place of Agriculture in the National Economy since 1991

·         Crop Pattern in India

·         National Agriculture Policy

·         Food Security in India

·         Irrigation and Agricultural Inputs

·         Agricultural Labour

·         Progress of Agriculture under the Plans.

Unit 03: Indian Industries:

·         Importance of Industrialization.

·         Industrial Policy since 1991.

·         Problems of Large Scale Industries.

·         Role and Problems of Small Scale Industries.

·         Disinvestment: Policies and Issues.

·         Emergence of the IT industry.

Unit 04: The Tertiary Sector in India

·         Foreign Trade of India.

·         Composition of India’s Foreign Trade.

·         Direction of India’s Foreign Trade.

·         Indian Balance of Payments.

·         Impact of WTO on India’s Foreign Trade.

·         India’s Foreign Exchange Reserves.

·         Functions of the Reserve Bank of India

·         Monetary Management.

·         Reforms in the Banking Sector.

Unit 05: Indian Fiscal System

·         Revenue and Expenditure of the Central and State Governments.

·         Public Debt Management.

·         Financial Relations between Center and State.

·         Parallel Economy.

·         Challenges to development:

o   Poverty: Poverty Eradication Programs in India

o   Unemployment in India: Schemes to Reduce Unemployment.

Reference:

·         Dutt Ruddar and Sundaram K.P.M (2007) Indian Economy, S. Chand and Co New Delhi.

·         Misra S.k. and V.K. Puri (2007) Indian Economy, Himalaya publishing house, mumbai.

·         Agarwal A.N.(2007) Indian Economy-problems of development and planning, Wishwa Prakashan, New Delhi. 

Economics Third Semester Syllabus

MATHEMATICS AND STATISTICS FOR ECONOMICS

Module 1: Tools of Economic Analysis

Introduction:

• Nature and Scope of Mathematical Economics 
• Role of Mathematics in Economic Theory 

Functions and Functional Relations:

• Linear and Non- Linear Functions 
• Demand and Supply Functions 
• Liquidity Preference Functions 
• Production Possibility Curves 
• Indifference Curves 

Concept of Sets:

• Meaning and Types 
• Union of Sets 
• Intersection of Sets 

Module 2: Economic Application of Linear Functions 

• Determination of Market Equilibrium Price and Quantity 
• Impact of Specific Tax on Market Equilibrium 
• Impact of Subsidy on Market Equilibrium 

Module 3: Derivatives of Functions 

• Concept of Limit and Continuity 
• First Principle of Differentiation Relating to Algebraic Functions 
• Application of Differential Calculus to Economics to Derive Marginal Revenue and Marginal Cost Function and Total Revenue and Total Cost Functions 
• Elasticity of Demand 
• Revenue/Profit Maximization and Cost Minimization 

Module 4: Definition and Scope of Statistics 

• Definition 
• Importance of Statistics in Economics 
• Limitations 

Module 5: Sources of Data and Presentation of Data 

• Primary and Secondary Sources 
• Classification and Tabulation of Data 
• Diagrammatic Representation of Data 

Module 6: Measures of Central Tendency

• Mean, Median, Mode 
• Geometric Mean and Harmonic Mean for Grouped and Ungrouped Data 

Module 7: Measures of Dispersion 

• Range, Semi-Inter Quartile Range, 
• Mean Deviation and Standard Deviation 
• Lorenz Curve

Recommended Text Books

1.  Veerachamy R (2005) Quantitative Methods for Economics, New Age International (P) Limited Publishers, New Delhi.

2.  Bose D (2000) An Introduction to Mathematical Economics, Himalaya Publishing House, Mumbai.

3.  Anderson David R, Dennis J, Sweeney and Thomas A. Williams, (2002) Statistics for Business and Economics, Thomson South – Western, Singapore

4.  Dr.C.K. Renukarya “ Mathematics and Statistics for Economics” Chetana Publication

Economics Second Semester Syllabus

Module 1: Introduction to Macro Economics

• Macro Economics: Meaning and Definition 
• Macro Economics: Nature
• Macro Economics: Types
• Macro Economics: Subject Matter or Central Issues
• Macro Economics: Scope and Importance
• Macro Economics: Limitations
• Basic Concepts: Stocks, Flow Equilibrium, Short/Long Terms 
• Concepts of National Income: (GNP, NNP, GDP, NDP, NI, PI, DI)
• Maintenance of National Income 
• Importance of National Income Analysis
• Methods of Measuring National Income
• Difficulties in Measuring National Income (Simple Calculation)
• Question Bank

Module 2: Classical theory of Employment

• Say’s Law of Markets 
• Wage-Price Flexibility 
• Criticisms of the Classical Theory of Employment

Module 3: Keynesian Theory of Employment

• Concept of Effective Demand and its Determinants 
• Equilibrium Level of Income and Employment 
• Consumption Function, APC, MPC 
• Factors Affecting the Consumption Function 
• Investment Function 
• Marginal Efficiency of Capital 
• Factors Affecting Investment Function 
• Multiplier Effect 
• Criticism of Keynesian Theory of Employment 

Module 4: New Classical Macroeconomics

• New Classical Macroeconomics 
• Supply Side Economics and its Theoretical Proposition
• Rational Expectation and Policy Conclusions 

Module 5: Macro Economic Policy

• Business Cycles and Role of Macro Economic Policy 
• Business Cycles: (Meaning, Types, Phases)
• Meaning of Inflation
• Types of Inflation
• Causes of Inflation
• Control of Inflation
• Effects of Inflation
• Inflationary Gap 
• Meaning of Deflation
• Effects of Deflation
• Monetary Policy 
• Fiscal Policy

Questions Given in the Class

Economics First Semester Syllabus

Module 1: Introduction to Micro Economics 

• Meaning and Definitions of Economics 
• Reasons for Studying Economics
• Meaning and Definition of Micro Ecoconomics
• Types and Scope of Microeconomics
• Importance OF Micro Economics
• Limitations of Micro economics
• Scarcity and Efficiency
• Basic Problems of an Economy
• Production Possibility Curve
• The Problem of Choice

Module 2: Theories of Consumer’s Behaviour 

• Cardinal Approach: Utility and its Meaning
• Cardinal Approach: Utility and Satisfaction
• Cardinal Approach: Measurement of Utility
• Cardinal Approach: Total Utility and Marginal Utility
• Cardinal Approach: The law of Diminishing Marginal Utility
• Cardinal Approach: Assumptions of the Law of Diminishing Marginal Utility
• Cardinal Approach: Criticism of the Law of Diminishing Marginal Utility
• Cardinal Approach: Importance of the Law of Diminishing Marginal Utility
• Cardinal Approach: Exceptions to the Law of Diminishing Marginal Utility
• Cardinal Approach: The law of Equi-Marginal Utility
• Cardinal Approach: Relationship between the Law of Diminishing Marginal Utility and the Law of Equi-Marginal Utility
• Cardinal Approach: Assumption and Importance of the Law of Equi-Marginal Utility
• Cardinal Approach: Limitations of the Law of Equi-Marginal Utility
• Cardinal Approach: Consumer Surplus
• Cardinal Approach: Assumptions and Criticisms of Consumer Surplus
• Cardinal Approach: Importance of the Concept of Consumer Surplus
• Cardinal Approach: Limitations of Marshallian Approach 
• Ordinal Approach: Indifference Curves (Meaning, Schedule, Graph)
• Ordinal Approach: Properties of Indifference Curve
• Ordinal Approach: Marginal Rate of Substitution
• Ordinal Approach: Consumer’s Equilibrium
• Ordinal Approach: Substitution, Income and Price Effects
• Ordinal Approach: Criticisms of the Indifference Curve Approach 
• Ordinal Approach: Revealed Preference Theory

Module 3: Theory of Demand and Supply 

• Demand: Meaning, Law 
• Demand: Schedule, Curve 
• Exceptions to the Law of Demand 
• Factors Influencing Demand 
• Increase and Decrease in Demand 
• Extension and Contraction of Demand 
• Elasticity of Demand: Meaning and Types 
• Measurement of Elasticity of Demand (with simple calculations) 
• Supply: Meaning, Law 
• Supply: Schedule, Curve 
• Factors Influencing Supply 
• Extension and Contraction of Supply 
• Elasticity of Supply 
• Increase and Decrease in Supply

Module 4: Cost and Revenue Analysis 

• Production Function 
• The Law of Variable Proportions 
• The Law of Returns to Scale 
• Cost: Meaning, Types 
• Real Cost 
• Opportunity Cost (in relation to Module 4) 
• Fixed, Variable Cost and Total Cost 
• Marginal Cost and Average Cost 
• Costs Calculations (Simple Calculations) 
• Cost Curves 
• Revenue: Types, Marginal, Average, Total Revenue, Revenue Curves

Module 5: Production and Factor Pricing 

• Pure Competition and Perfect Competition (Features Price and Output Determination, Role of Time Element, Graphs) 
• Monopoly (Features, Types, Price and Output Determination, Discriminating Monopoly, Graphs) 
• Monopolistic Competition 
• Product Differentiation 
• Oligopoly (Features, Collusive and Non-Collusive Oligopoly, Graphs) 
• Cartels and Price Leadership 
• Marginal Productivity Theory of Distribution 
• Modern Theory of Distribution