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Department of Economics

Board of Studies Meeting Date and Time April 4, 2015, 11:30 A.M.

(A)Following members were present in the Board of Studies Meeting External Members: Prof B.L. Pandit-Delhi school of Economics

Prof Pami Dua- Director, Delhi School of Economics Prof Ashok Mittal -Head Dept. of Economics A.M.U.

Internal Members: Prof. Swami Prakash Srivastava, Dr Sangeeta Kumar, Dr Rupali Satsangi, Dr Jyoti Gogia, Dr Resham Chopra

(B) Additional Inputs

(i) Following external members were present in one day workshop for curriculum revision organized by Economics Dept. on March 2, 2015

External Member: Prof S.K. Shukla, Head, Dept. of Economics, Jiwaji University, Gwalior Prof. Sudhir Sharma, Dept. of Economics Jiwaji University-Gwalior

Prof Ved Prakash Tripathi, Dr Bachho Singh, Head, Dept. of Economics -RBS College –Agra, Dr Ravi Kant, Dr Shyam Sundar Singh Chauhan

……….

In the meeting, the following issues/proposals were discussed

1. The Committee reviewed the existing syllabi of all the courses. The major changes in various courses have been proposed.

2. The Panel of external examiners , the question banks and readings of various courses were reviewed and updated

3. The experts made the following additional observations:

(i) It was suggested that ‘Suggested Readings’ of each course be modified to include the name of publisher as well as the year of publication.

(ii) It was suggested that in the syllabus of each course “learning Objectives’ should be mentioned.

The meeting ended with vote of thanks Prof. Swami Prakash Srivastava Head , Dept. of Economics, Faculty of Social Sciences D.E.I. – Agra-282005

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DEPARTMENT OF ECONOMICS PROPOSED COURSE STRUCTURE B.A. (HONOURS)

SEMESTER I SEMESTER II

ECH 101 ESSENTIALS OF ECONOMICS --- ECH 102 INTRODUCTION TO INDIAN

ECONOMY ---

ECW 101 BANKING & FINANCE (WORK

EXPERIENCE) ECW 201 INTRODUCTION TO COMPUTER

APPLICATIONS (WORK EXPERIENCE)

ECM 101 PRINCIPLES OF MICROECONOMICS ECM 201 PRINCIPLES OF MACROECONOMICS ECM 102 INDIAN ECONOMIC DEVELOPMENT

I ECM 202 MONEY, FINANCIAL MARKET &

INSTITUTIONS

ECM 103 SEMINAR & GROUP DISCUSSION ECM 203 SEMINAR & GROUP DISCUSSION

ECM 104 TUTORIALS ECM 204 TUTORIALS

SEMESTER III SEMESTER IV

ECM 301 DEVELOPMENT ECONOMICS ECM 401 MONETARY ECONOMICS

ECM 302 PUBLIC ECONOMICS ECM 402 INTERNATIONAL ECONOMICS

ECM 303 STATISTICAL METHODS FOR ECONOMICS I

ECM 403 MATHEMATICAL METHODS FOR ECONOMICS*

ECM 304 SEMINAR & GROUP DISCUSSION ECM 404 SEMINAR & GROUP DISCUSSION

ECM 305 TUTORIALS ECM 405 TUTORIALS

ECW 301 COMMUNICATION TECHNIQUES

(OPTIONAL) ECW 401 CONTEMPORARY ISSUES IN

ECONOMICS AND FINANCE (OPTIONAL) ECM 406 DEMOGRAPHY*

SEMESTER V SEMESTER VI

ECM 501 MICROECONOMIC ANALYSIS ECM 601 MACROECONOMIC ANALYSIS &

POLICY ECM 502 INDIAN ECONOMIC DEVELOPMENT

II ECM 602 ECONOMICS OF HEALTH AND

EDUCTION ECM 503 STATISTICAL METHODS FOR

ECONOMICS II

ECM 603 BASIC ECONOMETRICS

ECM 504 HISTORY OF ECONOMIC THOUGHT ECM 604 ENVIRONMENTAL ECONOMICS ECM 505 SEMINAR & GROUP DISCUSSION ECM 605 SEMINAR & GROUP DISCUSSION PGDBE- M.A. - M.PHIL

SEMESTER I SEMESTER II

DBE 701 MACROECONOMIC THEORY DBE 801 MICROECONOMIC THEORY DBE 702 INDIAN ECONOMY- DEVELOPMENT,

PERSPECTIVES & CHALLENGES DBE 802 INTERNATIONAL TRADE & FINANCE DBE 703 QUANTITATIVE TECHNIQUES-

BUSINESS AND ECONOMIC ANALYSIS DBE 803 BUSINESS AND ECONOMIC FORECASTING

DBE 704 FINANCIAL ECONOMICS DBE 804 BUSINESS ENVIRONMENT DBE 705 CASE STUDY & VIVA VOCE DBE 805 PROJECT

SEMESTER III SEMESTER IV

ECM 001 RESEARCH METHODOLOGY ECM 901 DISSERTATION

ECM 002 PRE DISSERTATION (Any two)

ECM 902 DEVELOPMENT THEORY AND EXPERIENCE

ECM 903 ECONOMETRIC METHODS ECM 904 LAW AND ECONOMICS

ECM 905 ENVIRONMENTAL ECONOMICS M.PHIL.

SEMESTER I SEMESTER II

ECM 951 DISSERTATION I ECM 952 DISSERTATION II

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ECM 953 SELF STUDY COURSE ECM 954 ADVANCED RESEARCH ETHODOLOGY

ECM 955 ECONOMIC ANALYSIS & POLICY

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COMPARISON OF EXISTING AND PROPOSED SYLLABUS

EXISTING PROPOSED

B.A. (HONOURS)

SEMESTER I SEMESTER I

ECH 101 ESSENTIALS OF ECONOMICS ECH 101 ESSENTIALS OF ECONOMICS

ECH 102 INTRODUCTION TO INDIAN ECONOMY ECH 102 INTRODUCTION TO INDIAN ECONOMY ECW 101 BANKING & FINANCE (WORK

EXPERIENCE)

ECW 101 BANKING & FINANCE (WORK EXPERIENCE)

ECM 101 PRINCIPLES OF MICROECONOMICS ECM 101 PRINCIPLES OF MICROECONOMICS ECM 102 INDIAN ECONOMY:STRUCTURE &

DEVELOPMENT

ECM 102 INDIAN ECONOMIC DEVELOPMENT I ECM 103 SEMINAR & GROUP DISCUSSION ECM 103 SEMINAR & GROUP DISCUSSION

ECM 104 TUTORIALS ECM 104 TUTORIALS

SEMESTER II SEMESTER II

ECW 201 INTRODUCTION TO COMPUTER

APPLICATIONS (WORK EXPERIENCE) ECW 201 INTRODUCTION TO COMPUTER APPLICATIONS (WORK EXPERIENCE)

ECM 201 PRINCIPLES OF MACROECONOMICS ECM 201 PRINCIPLES OF MACROECONOMICS ECM 202 INDIAN ECONOMY: MONEY & FINANCIAL

MARKETS ECM 202 MONEY, FINANCIAL MARKET &

INSTITUTIONS

ECM 203 SEMINAR & GROUP DISCUSSION ECM 203 SEMINAR & GROUP DISCUSSION

ECM 204 TUTORIALS ECM 204 TUTORIALS

SEMESTER III SEMESTER III

ECM 301 ECONOMICS OF DEVELOPMENT ECM 301 DEVELOPMENT ECONOMICS

ECM 302 PUBLIC FINANCE ECM 302 PUBLIC ECONOMICS

ECM 303 STATISTICAL METHODS FOR ECONOMICS- 1

ECM 303 STATISTICAL METHODS FOR ECONOMICS I

ECM 304 SEMINAR & GROUP DISCUSSION ECM 304 SEMINAR & GROUP DISCUSSION

ECM 305 TUTORIALS ECM 305 TUTORIALS

ECW 301 COMMUNICATION TECHNIQUES (OPTIONAL)

ECW 301 COMMUNICATION TECHNIQUES (OPTIONAL)

SEMESTER IV SEMESTER IV

ECM 401 MONETARY ECONOMICS ECM 401 MONETARY ECONOMICS

ECM 402 DEMOGRAPHY ECM 402 INTERNATIONAL ECONOMICS

ECM 403 INTERNATIONAL ECONOMICS ECM 403 MATHEMATICAL METHODS FOR ECONOMICS*

ECM 404 SEMINAR & GROUP DISCUSSION ECM 404 SEMINAR & GROUP DISCUSSION

ECM 405 TUTORIALS ECM 405 TUTORIALS

ECW 401 CONTEMPORARY ISSUES IN ECONOMICS AND FINANCE (OPTIONAL)

ECW 401 CONTEMPORARY ISSUES IN ECONOMICS AND FINANCE (OPTIONAL) ECM 406 DEMOGRAPHY*

SEMESTER V SEMESTER V

ECM 501 MICROECONOMIC ANALYSIS ECM 501 MICROECONOMIC ANALYSIS

ECM 502 HISTORY OF ECONOMIC THOUGHTS ECM 502 INDIAN ECONOMIC DEVELOPMENT II ECM 503 COMPUTER APPLICATIONS IN ECONOMIC

ANALYSIS

ECM 503 STATISTICAL METHODS FOR ECONOMICS II

ECM 504 STATISTICAL METHODS FOR ECONOMICS- 2

ECM 504 HISTORY OF ECONOMIC THOUGHT ECM 505 SEMINAR & GROUP DISCUSSION ECM 505 SEMINAR & GROUP DISCUSSION

SEMESTER VI SEMESTER VI

ECM 601 MACROECONOMIC ANALYSIS & POLICY ECM 601 MACROECONOMIC ANALYSIS & POLICY

ECM 602 INDUSTRIAL ECONOMICS ECM 602 ECONOMICS OF HEALTH AND

EDUCATION

ECM 603 ENVIRONMENTAL ECONOMICS ECM 603 BASIC ECONOMETRICS ECM 604 MATHEMATICAL METHODS FOR

ECONOMICS ECM 604 ENVIRONMENTAL ECONOMICS

ECM 605 SEMINAR & GROUP DISCUSSION ECM 605 SEMINAR & GROUP DISCUSSION

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PGDBE- M.A. M.PHIL

SEMESTER I SEMESTER I

DBE 701 MICROECONOMIC ANALYSIS DBE 701 MACROECONOMIC THEORY

DBE 702 MACROECONOMIC ANALYSIS AND POLICY DBE 702 INDIAN ECONOMY- DEVELOPMENT, PERSPECTIVES & CHALLENGES

DBE 703 COMPUTER APPLICATIONS IN BUSINESS AND ECONOMIC ANALYSIS

DBE 703 QUANTITATIVE TECHNIQUES- BUSINESS AND ECONOMIC ANALYSIS

DBE 704 QUANTITATIVE TECHNIQUES- BUSINESS AND ECONOMIC ANALYSIS

DBE 704 FINANCIAL ECONOMICS DBE 705 CASE STUDY & VIVA VOCE DBE 705 CASE STUDY & VIVA VOCE

SEMESTER II SEMESTER II

DBE 801 BUSINESS AND ECONOMIC FORECASTING DBE 801 MICROECONOMIC THEORY

DBE 802 FINANCIAL INSTITUTIONS AND MARKETS DBE 802 INTERNATIONAL TRADE & FINANCE DBE 803 INTERNATIONAL TRADE & FINANCE DBE 803 BUSINESS AND ECONOMIC

FORECASTING

DBE 804 BUSINESS ENVIRONMENT DBE 804 BUSINESS ENVIRONMENT

DBE 805 PROJECT DBE 805 PROJECT

SEMESTER III SEMESTER III

ECM 001 RESEARCH METHODOLOGY ECM 001 RESEARCH METHODOLOGY

ECM 002 PRE DISSERTATION ECM 002 PRE DISSERTATION

SEMESTER IV SEMESTER IV

ECM 901 DISSERTATION ECM 901 DISSERTATION

ECM 902 INDIAN ECONOMY- DEVELOPMENT,

PERSPECTIVES & CHALLENGES ECM 902 DEVELOPMENT THEORY AND

EXPERIENCE

ECM 903 INDUSTRIAL ECONOMICS ECM 903 ECONOMETRIC METHODS

ECM 904 ECONOMETRIC METHOD WITH

APPLICATIONS ECM 904 LAW AND ECONOMICS

ECM 905 ECONOMICS OF INSURANCE ECM 905 ENVIRONMENTAL ECONOMICS

ECM 906 DEVELOPMENT ECONOMICS M.PHIL

SEMESTER I SEMESTER I

ECM 951 DISSERTATION I ECM 951 DISSERTATION I

ECM 953 SELF STUDY COURSE ECM 953 SELF STUDY COURSE

ECM 954 ADVANCED RESEARCH METHODOLOGY ECM 954 ADVANCED RESEARCH METHODOLOGY ECM 955 ECONOMIC ANALYSIS & POLICY ECM 955 ECONOMIC ANALYSIS & POLICY

SEMESTER II SEMESTER II

ECM 952 DISSERTATION II ECM 952 DISSERTATION II

Note:

 B.A. Pass Course: First Four Semesters of the course is B.A. Pass Course. Students from Social Sciences or Arts can take it as one of the major courses (out of two major courses).

Students have choice to continue or leave the course after fourth semester.

 B.A. Honours: Fifth and Sixth semesters are specialization in Economics.

 ECH 101 and ECH 102 are Faculty half courses and open for other students. (non- economic background)

 ECW 101 and ECW 201 are work experience courses and compulsory for all.

 ECW 301 and ECW 401 are optional course, and certificate is awarded for completing it successfully.

 *ECM 403 Mathematical Methods for Economics is proposed to be mandatory for students who are willing to do B.A. Economics (Hons.). Other students may take ECM 406 Demography.

 Post Graduate Diploma in Business and Economics (PGDBE): First two semesters are Diploma course. Students may exit after completing diploma.

 M.A. (Applied Economics): In addition of two semesters of PGDBE, students will be awarded with M.A. (Applied Economics) degree after completing third and fourth semesters.

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Department of Economics ECH 101

1 Department proposing the course Economics

2 Course Title Essentials of Economics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECH101

6 Status Half Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another Dept./Centre

NA 9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims To give the better knowledge of economic concepts

and issues, and help the non-economic students in understanding the basics of economics.

S.

No.

Course No. Existing Contents Revised Justification

1. ECH 101 UNIT 1: THEORY OF CONSUMER’S BEHAVIOUR (a) Marginal Utility analysis (b) Law of Demand (c) Price elasticity of demand (d) Law of Supply.

UNIT 1: NATURE AND SCOPE OF ECONOMICS

Meaning and Definitions of Economics;

Scarcity and Choice; Economic Problem;

Opportunity sets; Economic System;

Role of Price Mechanism; Positive and Normative Economics; Microeconomics and Macroeconomics

Introductory part of economics has been added to orient non economic background students with fundamentals of economics.

2. ECH 101 UNIT 2: THEORY OF PRODUCT PRICING (a) Market forms (b) Price and output determination under Perfect competition, Imperfect competition and Monopoly.

UNIT 2: THEORY OF CONSUMER BEHAVIOUR

Demand; Law of demand; Elasticity of demand-degrees, types and methods of measurement; Law of supply; Utility Analysis.

Unit 1 of existing course has been shifted to unit 2 with changed sequence.

3. ECH 101 UNIT 3: THEORY OF FACTOR PRICING

(a) Marginal productivity theory (b) Concept of Rent, Profit and Wages.

UNIT 3: THEORY OF PRODUCT PRICING

Market forms; Cost and Revenue Analysis; Price and output determination under Perfect competition, Imperfect competition and Monopoly

Unit 2 of existing course subsequently shifted to unit 3. Cost and revenue analysis has been added as it is essential to understand market competitions 4. ECH 101 UNIT 4: MONEY AND

BANKING

(a) Quantity theory of money (b) The money market- features of Indian money market (c) Credit creation and credit control (d) Role of Central Bank.

UNIT 4: THEORY OF FACTOR PRICING

Nature of Factor Market; Marginal productivity theory; Concept of Rent, Wages, Interest and Profit

Unit 3 has been shifted to unit 4 and unit 4 has been deleted and some of its components have been added to unit 5

5. ECH 101 UNIT 5: INFLATION, RECESSION AND TAXATION

(a) Meaning, causes, consequences and control of

UNIT 5: INFLATION AND RECESSION Meaning, causes, consequences and control of Inflation, Recession and Stagflation; Commercial Banks:

Functions, Credit Creation and New

Taxation has been deleted from unit 5.

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Inflation (b) Taxation- Principles, incidence and Impact of Taxation.

Products; Role of Central Bank and credit control

Note: Reading list has been revised

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ECH 102

1 Department proposing the course Economics

2 Course Title Introduction to Indian Economy

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECH102

6 Status Half Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

To orient the non-economic students with the basic structure and working of Indian Economy

S.

No. Course

No. Existing Contents Revised Justification

1. ECH

102 UNIT 1: MAIN

CHARACTERISTICS OF INDIAN ECONOMY

Indicators of development;

National Income- Estimates, composition, trends and distribution.

UNIT 1:

CHARACTERISTICS OF INDIAN ECONOMY

Indicators of economic development; Difference between growth and development; National Income- Estimates, composition, trends and distribution; Recent measurement of National Income; HDI and its components; GEM; PQLI

Recent

measurement of National Income;

HDI and its components;

GEM; PQLI have been added to impart knowledge about recent developments.

2. ECH

102 UNIT 2: POPULATION DYNAMICS

Problems of population explosion; population and economic development;

population policy, size, growth rate, composition of population in India.

UNIT 2: POPULATION DYNAMICS

Problems of population explosion; population and economic development;

population policy; size, growth rate, composition of population in India; Age Pyramid; Demographic dividend

Age Pyramids and Demographic dividend have been added to study population transition

concepts.

3. ECH

102 UNIT 3: AGRICULTURE AND RURAL DEVELOPMENT Role and importance of agriculture in the Indian Economy; productive trends;

Green Revolution; Rural poverty and unemployment; Rural development Programmes.

INDA, NREGA

UNIT 3: AGRICULTURE

AND RURAL

DEVELOPMENT

Role and importance of agriculture in the Indian Economy; productive trends; Green Revolution;

Rural poverty and unemployment; Rural development Programmes;

MNREGA; NRLM;

Agricultural diversification;

Some important concepts like NRLM;

Agricultural diversification;

Rainbow

revolution have been added.

INDA has been deleted as it is not associated with the unit contents.

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Rainbow revolution

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4. ECH 102

UNIT 4: INDUSTRY AND TRADE

Industrial finance; Industrial labour problems and characteristics; Industrial disputes causes and resolving machinery; Trade policy- Export Promotion and Import substitution.

UNIT 4: INDUSTRY AND TRADE

Industrial finance; Industrial labour problems and characteristics; Industrial Policy 1991; MSMEs; Make in India and Skill Development; Export Promotion and Import substitution.

Industrial Policy 1991; MSMEs;

Make in India and Skill

Development;

have been added

to impart

knowledge regarding recent changes.

5. ECH

102

UNIT 5: NEW ECONOMIC REFORMS

New Industrial policy (latest):

Main features; Privatisation- Meaning and objectives;

Multinationals- Meaning and extent of operations, Merits and demerits of MNC’s.

UNIT 5: NEW ECONOMIC REFORMS

Liberalisation, Privatisation and Globalisation -Meaning

and objectives;

Multinationals- Meaning, Role and extent of operations

Industrial Policy has been shifted to unit 4 as it aligns best with unit 4

Note: Reading list has been revised

ECW101

1 Department proposing the course Economics

2 Course Title Banking and Finance

3 L-T-P Structure Periods (55 mts. Each)/week:4 (L-2+T-0+P-2) min.pds./sem.:48

4 Credits 2

5 Course Number ECW101

6 Status Work Experience

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

To promote and develop sound and progressive banking principles, practices and conventions in students, and expose them to creative banking.

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S.

No. Course

No. Existing Contents Revised Justification

1. ECW

101 UNIT 1: OPENING &

HANDLING OF ACCOUNTS Types of bank Accounts &

opening a bank account, bank Account statement pass Books.

UNIT 1:TYPES OF BANKS

Commercial banks,

Development Banks,

Cooperative Banks, Private and Foreign Banks, Regional Rural Banks

It is felt important to start the course with different types of banks to give an overview to banking system.

2. ECW

101 UNIT 2: CHEQUES

Definition, Parties to a cheque, order & bearer cheque scrutiny of cheques crossing and endorsement of cheques, ATM and uses of E-Cards for banking Transactions.

UNIT 2: BANKING OPERATIONS

Types of bank Accounts &

opening a bank account, bank Account Statement Pass Books Cheque: Definition, Parties to a cheque, order & bearer cheque, multicity cheque;

scrutiny of cheques crossing and endorsement of cheques, bank commissions on cheque and draft; ATM and uses of E-

Cards for banking

Transactions; Pay in slips;

Draft; operational differences between public and private sector banks

Unit 2 and 3 have been merged and reframed as Banking

operations.

Contents have been specified to clarify course coverage

3. ECW

101 UNIT 3: PAY IN SLIP &

DRAFTS

Pay in slips: What is paying in slip? Why is a pay in slip required, precautions while filling pay in slips Draft – Meaning and making a demand draft.

UNIT 3: E- BANKING

Overview of E-Banking Arena;

Electronic Delivery Channels and Products- Telephony, Internet, Mobile Phones;

Electronic Payment System, NEFT, RTGS, M- Banking

E- Banking has been introduced to make students aware about recent

developments in banking

operations.

4. ECW

101 UNIT 4: FINANCIAL ASSETS Rates of return, liquidity and risk, types of financial assets:- Government securities.

Corporate Equities (Debentures), Promissory notes, Commercial bills, Treasury bills, Mutual Funds.

UNIT 4: FINANCIAL ASSETS Rates of return, liquidity and risk, types of financial assets:- Government securities.

Corporate Equities

(Debentures), Promissory notes, Commercial bills, Treasury bills, Mutual Funds;

Non Performing Assets

Non Performing Assets has been added

5. ECW

101 UNIT 5: INTERNET BANKING Overview of E-Banking Arena;

Electronic Delivery Channels and Products- Telephony, Internet, Mobile Phones; Electronic Payment System.

UNIT 5: PROJECT BASEDON

REAL TIME ISSUES Contents of unit 5 have been shifted to unit 3 as it aligns best with unit 3.

Unit 5 has been

amended to

provide application base to the course.

Note: Reading list has been added

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ECM 101

1 Department proposing the course Economics

2 Course Title Principles of Microeconomics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM101

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

To help students to understand the behaviour of individuals and small organizations in making decisions on the allocation of limited resources.

S.

No. Course

No. Existing Contents Revised Justification

1. ECM

101 UNIT 1: NATURE AND SCOPE OF ECONOMICS

Wants and Resources, Economic Problem; Types of Economic System; Role of Price Mechanism;

Positive and Normative Economics; Micro and Macro Economics.

UNIT 1: NATURE AND SCOPE OF ECONOMICS

Meaning and Definitions of Economics;

Scarcity and Choice; Economic Problem;

Opportunity sets; Economic System;

Role of Price Mechanism; Positive and Normative Economics; Microeconomics and Macroeconomics

Introductory concepts of economics have been inserted to set a base.

ECM

101 UNIT 2: THEORY OF CONSUMER'S BEHAVIOUR Marginal Utility Analysis;

Indifference curve analysis, Law of demand; Elasticity of demand- types, effects and methods of measurement; Law of supply, Consumer Surplus; Engel Curve

UNIT 2: THEORY OF CONSUMER BEHAVIOUR

Demand; Law of demand; Elasticity of demand-degrees, types and methods of measurement; Law of supply; Utility Analysis; Indifference curve analysis;

budget constraints; the consumption decision; Consumer Surplus; Engel Curve

Sequence has been changed as per the logical order

ECM 101

UNIT 3: THEORY OF PRODUCTION

Fixed and variable inputs; Law of variable proportions; Internal and External economies; Concept of cost equilibrium between supply and demand in the market.

UNIT 3: THEORY OF PRODUCTION Fixed and variable inputs; Production function- Short Run and Long Run; Law of variable proportions; Isoquants;

Returns to scale; Internal and External economies; Concept of cost

Sub- concepts have been added for bringing clarity.

ECM

101 UNIT 4: THEORY OF PRODUCT- PRICING

Market forms; Price and Output determination under perfect competition, imperfect competition and monopoly.

UNIT 4: THEORY OF PRODUCT- PRICING

Market forms; Price and Output determination under perfect competition, imperfect competition; monopoly and anti – trust policy; government policy towards competition

Anti – trust policy;

government policy towards competition has been added to make aware with changing

regime of

competition.

ECM 101

UNIT 5: THEORY OF FACTOR- PRICING

Nature of factor market; Pricing of factors of production; Marginal

UNIT 5: THEORY OF FACTOR- PRICING

Nature of factor market; Pricing of factors of production; Marginal Productivity

Interest has been

added to

complete the factor market

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Productivity theory; Concept of Rent, Quasi-Rent Profit, Wages.

theory; Concept of Rent, Quasi-Rent, Wages, Interest and Profit

Note: Reading list has been revised

(16)

ECM 102 1 Department proposing the course Economics

2 Course Title Indian Economic Development – I

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM102

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another Dept./Centre

NA 9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims It helps in developing understanding of the students

related to different sectors of Indian Economy and how planning and infrastructure support can develop it.

S.

No.

Cours e No.

Existing Contents Revised Justification

1. ECM

102 UNIT 1: BASIC FEATURES Main Characteristics of the Indian Economy-Indicators of development; National Income- Estimates, Composition trends and distribution, Limitations of National Income estimates in India.

UNIT 1: THE INDIAN ECONOMY: AN OVERVIEW Developed and less developed Economy:

meaning and Concept, Characteristics of Indian

Economy; Recent

measurement of National Income; Comparison of Indian Economy with Developed countries

Title of the unit reframed and comparison of Indian economy with developed nations have been added

2. ECM

102 UNIT 2: AGRICULTURE &

RURAL DEVELOPMENT

Role and importance of agriculture in the Indian Economy Productivity trends, Green Revolution, Rural Poverty and

Unemployment; Rural

Development Programmes-IRDA- Performance, Impact and problems in implementation, Swarn Jayanti Shahri & Gramin Swarozgar Yojna. NREGA- Problems and Prospects

UNIT 2: INDIAN AGRICULTURE

Characteristics of Indian agriculture, Growth;

productivity; agrarian structure and technology;

capital formation; Green Revolution strategy and its effects, Agriculture in the post-Reform India; Pricing and procurement; NRLM

Title has been reframed and contents have been revised as per the title.

Outdated schemes

have been

deleted.

3. ECM

102 UNIT 3: INDUSTRY

Industrial Development Strategies during the planning Period;

Industrial policy of 1948, 1956, 1977 & 1991; Industrial Licensing Policy- MRTP Act, FERA, FEMA;

Problems of large and small industries.

UNIT 3: INDIAN INDUSTRY AND PLANNING

Composition of Indian industry; Growth, productivity, diversification; MSMEs;

Competition Act; foreign investment; Industry in the post-reform India; Industrial

Planning has been added to unit 3

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Policy 1991, Need and importance of planning in India, overview of planning in India, NITI Aayog

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4. ECM 102

UNIT 4: ROLE OF GOVERNMENT

Economic Planning and Regulation, Five years Plan – Objectives and achievements

UNIT 4: TERTIARY SECTOR Trends and Performance in Tertiary sector, Govt initiatives to develop tertiary sector after 1991- increasing contribution of tertiary sector to employment, income and exports

Contents of unit 4 have been shifted to unit 3 and it is replaced with tertiary sector

5. ECM

102 UNIT 5: NEW ECONOMIC POLICY

Liberalisation, Privatisation, Globalization, Disinvestment Policy

UNIT 5: INFRASTRUCTURE

& HUMAN RESOURCE Role of Infrastructure in Economic Development- Physical Infrastructure- Natural Resources, Forest, Water, Land, Mineral, Energy Resources, Transport and Communication; Human Resource; HDI and its components; GEM; PQLI

Unit 5 has been replaced with infrastructure and human resource as this part of Indian Economy reflects various sectors of the economy

Note: Nomenclature has been changed from Indian Economy: Structure and Development to Indian Economic Development – I in align with other universities.

Reading list has been revised

ECW 201 1 Department proposing the course Economics

2 Course Title Introduction to Computer Applications

3 L-T-P Structure Periods (55 mts. Each)/week:4 (L-2+T-0+P-2) min.pds./sem.:48

4 Credits 3

5 Course Number ECW 201

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims The course describes an alternative approach to

teaching content by using computer applications that emphasize the empirical testing or applications of the theory.

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S.

No.

Cours e No.

Existing Contents Revised Justification

1. ECW 201

UNIT 1: INTRODUCTION TO COMPUTERS

Input & out devices, printers and scanners

UNIT 1: INTRODUCTION TO COMPUTERS Introduction to computer hardware, computer generation, functional description of computer building, computer networking and resource sharing, introduction to computer software, classification of software

Contents have been specified.

2. ECW 201

UNIT 2: MS WORD Introduction, Editing in MS Word

UNIT 2: TOOLS FOR OFFICE AUTOMATION Word processing using MS-Word;

Familiarization with menu and icons, creating files, fonts, formatting paragraph, header and footer, printing, advanced features, presentation using MS Power Point, familiarization with menus & icons, different views of a presentation, slide show, printing slides.

Unit title has been changed and contents have been specified for clarity

3. ECW 201

UNIT 3: WORKING WITH WINDOW XP

Parts of windows, applications, file management.

UNIT 3: STATISTICAL PROCESSING TECHNIQUES USING MS EXCEL

Features, general spreadsheet concepts, editing commands, analysis, tabulation &

graphs, formula and functions, financial and statistical function data management

Unit title has been changed and contents have been specified for clarity

4. ECW

201 UNIT 4: MS EXCEL Introduction &

applications.

UNIT 4: DATA PROCESSING TECHNIQUES

& METHODS

Concept of data, record and file, types of data and data structure, data analysis, file handling and operation appending etc., data storage and retrieval, data operating-sorting, merging, joining etc., database concepts and operation on database

Unit title has been changed and contents have been specified for clarity

5. ECW

201 UNIT 5: MS POWER POINT

Introduction &

applications.

UNIT 5: IT APPLICATION TO ECONOMICS Networking and Internet application, Internet information services, browser, Internet application- email, e-banking, banking projects etc., agricultural finance, loans and advances, consumer group finances, home finances etc.

Unit title has been changed and contents have been specified for clarity

Note: To avoid repetitions ECM 503 has been merged with ECW 201 Reading list has been added

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ECM201 1 Department proposing the course Economics

2 Course Title Principles of Macroeconomics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 201

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another Dept./Centre

NA 9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims To make student aware of the basic theoretical framework underlying the field of macroeconomics.

It helps students to study the aggregates and to provide overall idea about national economic policies and its implications.

S.

No Course

No. Existing Contents Revised Justification

1. ECM 201 UNIT 1: NATIONAL INCOME &

SOCIAL ACCOUNTS

National Income- Meaning, various concepts and methods of measurement. National Income and Economic Welfare, circular flow of economic activities.

UNIT 1: INTRODUCTION TO MACROECONOMICS AND

NATIONAL INCOME

ACCOUNTING

Basic issues of macroeconomics;

National Income- meaning, various concepts and methods of measurement; income expenditure and circular flow; real versus nominal GDP; price indices;

National Income accounting for an open economy; National Income and economic welfare

Introduction to macroeconomics has been added to give the logical start to the course.

Contents have been specified.

2. ECM 201 UNIT 2: CLASSICAL THEORY OF EMPLOYMENT

Classical theory of employment- Element of the complete classical model, Say's Law; Keynes criticism of the classical theory.

UNIT 2: CLASSICAL THEORY OF EMPLOYMENT

Classical theory of employment- elements of the complete classical model; Keynes criticism of the classical theory

No change

3. ECM 201 UNIT 3: GENERAL THEORY OF EMPLOYMENT OF KEYNES Aggregate Demand and Aggregate Supply Curves, Effective Demand Determination and Importance, Consumption Function, Investment Function, Multiplier and Accelerator.

UNIT 3: GENERAL THEORY OF EMPLOYMENT OF KEYNES Aggregate Demand and Aggregate Supply Curves, effective demand determination and importance, Consumption Function, Investment Function, Multiplier and Accelerator

No change

4. ECM 201 UNIT 4: MONEY AND BANKING Quantity Theory of Money, Fisher's Cash Transactions Approach Cambridge Cash Balance

Approach. The Money Market, Role of Central Bank, Concept of Money Supply (M1, M2, M3, M4), High Powered Money.

UNIT 4: MONEY AND BANKING Quantity Theory of Money: Fisher's cash-transactions approach, Cambridge cash-balance approach; determination of money supply and demand; credit creation; tools of monetary policy

Credit creation and tools of monetary policy have been added to give better understanding of monetary policy

5. ECM 201 UNIT 5: INFLATION AND RECESSION

Meaning, Inflationary gap, Types of Inflation, Philips Curve, Causes, Consequences and Control of

UNIT 5: INFLATION AND BUSINESS CYCLE

Meaning; types of Inflation; Philip Meaning; types of Inflation; Philips curve; causes, Concept and

Title of the unit has been rephrased to represent the contents better.

Business cycle has

(21)

Inflation, Stagflation. Role of Fiscal

& Monetary Policy to control Inflation.

phases of trade cycle, consequences and control of inflation and recession; stagflation;

Role of Fiscal and Monetary Policy to control inflation

been added to complement the unit.

Note: Reading list has been revised

(22)

ECM202

1 Department proposing the course Economics

2 Course Title Money, Financial Markets and Institutions

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 202

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

To understand the conceptual framework of financial market and institutions of India, majorly.

S.

No. Course

No. Existing Contents Revised Justification

1. ECM

202

UNIT 1: INFRASTRUCTURE

Role of Infrastructure in Economic Development-Physical Infrastructure- Natural Resources, Forest, Water, Land, Mineral, Energy Resources, Transport and Communication.

UNIT 1: MONEY &

FINANCIAL MARKETS Money market and Capital market: An Overview; Bond Market; Foreign Exchange Market; Financial Regulations

Unit 1 has been shifted to the course ECM 102.

An introductory unit has been devised.

2. ECM

202 UNIT 2: INDIAN MONETARY AND CREDIT SYSTEM

Reserve Bank of India (RBI), Commercial Banks and other Financial Institutions, Monetary Policy, Banking System.

UNIT 2: INDIAN MONETARY AND CREDIT SYSTEM

Reserve Bank of India (RBI), Commercial Banks and other Financial Institutions, Monetary Policy, Banking System.

No change

3. ECM

202 UNIT 3: INDIAN PUBLIC FINANCE Growth of Public Expenditure; Sources and trends in public revenue; Public Debt-Meaning, types, methods of debt redemption; Concepts of Deficit Financing in India.

UNIT 3: FINANCIAL REFORMS

Bank Reforms - Interest Rate, Deregulation, Capital Market Reforms, Gurley and Shaw Approach

Unit title and contents have been changed

4. ECM

202

UNIT 4: FINANCIAL MARKETS Bond Market, Foreign Exchange Market, Equity Market

UNIT 4: NON BANKING FINANCIAL

INTERMEDIARIES

Comparison between commercial banks and NBFIs; NBFIs: Definitions, types; Central bank’s control over the NBFIs

Contents have been shifted to unit 1.

NBFI has been introduced

5. ECM

202 UNIT 5: FINANCIAL REFORMS Bank Reforms-Interest Rate, Deregulation, Capital Market Reforms

UNIT 5: INDIAN EXPERIENCE OF THE FINANCIAL MARKET Current Regulatory

Architecture of India, factors, policies, and institution, financial intermediation, financial access, financial

Indian experience is required to give better understanding

(23)

inclusion

Note: The course has observed major changes in terms of nomenclature, unit titles and contents. This is done to align the subject with other universities.

Reading list has been revised

(24)

ECM 301

1 Department proposing the course Economics

2 Course Title Development Economics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 301

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

This course will provide students the strong foundation regarding different models of development and will help them in engaging with the economic, political and social dimensions of development policies.

S.

No.

Course No.

Existing Contents Revised Justification

1. ECM

301 UNIT 1: PROBLEMS OF ECONOMIC DEVELOPMENT Growth v/s Development;

Difficulties of measurement of Development; Indicators, characteristics and Determinants of modern Economic Growth, Quality of Life- Dimensions & measures Obstacles to Development.

Millennium Development Goals.

UNIT 1 BASIC CONCEPTS OF ECONOMIC DEVELOPMENT Economic Growth and Development, Concept of underdevelopment and basic characteristics; Determinants and Measurement indicators,

New Challenges to

development: Human

Development Index and Quality of Life; Sustainable Development.

Unit title has been changed to make it more relevant with the contents.

HDI and

Sustainable development have been introduced

2. ECM

301

UNIT 2: GROWTH MODELS Classical Model-Smith &

Ricardo; Marxian Model- Theory of Surplus Value;

Process of Capitalistic Development & Causes of its Downfall; Neo-Classical Model-Meade & Mrs. Joan Robinson; Harrod Domar Model-Dual role of Investment.

UNIT 2: APPROACHES TO DEVELOPMENT

Mixed Economy Approach, Lewis Dual Economy Model, Lebenstein Critical Minimum Effort Theory, Balanced Vs.

Unbalanced Growth Theories.

The contents of units 2 and unit 3

have been

interchanged with slight modifications to make course more systematic.

3. ECM

301 UNIT 3: THEORIES OF GROWTH

Vicious Circles of Poverty;

Critical Minimum Efforts Thesis-Leibenstein; Theory of Big Push-Rodan; Balanced V/s Unbalanced Growth; Stages of Growth-Rostow.

UNIT 3: ECONOMIC DEVELOPMENT AND GROWTH THEORIES &

MODELS

Theories of Economic Development – Classical, Marx and Schumpeter Models of Economic Growth-Harrod- Domar model and Solow

The contents of units 2 and unit 3

have been

interchanged with slight modifications to make course more systematic.

(25)

model.

4. ECM

301 UNIT 4: SECTORAL VIEW OF DEVELOPMENT

Agriculture & Development;

Role of Industry in Development; Role of Capital Formation in Economic Development; Role of Human Capital Formation in Economic

Development; Human

Development Index; Disguised Unemployment as a Source of Potential Saving.

UNIT 4: POVERTY AND INEQUALITY: DEFINITIONS,

MEASURES AND

MECHANISMS

Inequality axioms; a comparison of commonly used inequality measures;

connections between inequality and development; poverty measurement; characteristics of the poor; mechanisms that generate poverty traps and path dependence of growth processes.

The contents of units 4 and unit 5

have been

interchanged with slight modifications to make course more systematic

5. ECM

301 UNIT 5: GROWTH AND DISTRIBUTION

Relationship between growth

& income distribution, Concept and measurement of poverty, Relationship between deprivation & poverty

UNIT 5: RESOURCES AND DEVELOPMENT

Natural resources, population, Capital, human resource development and infrastructure, Role of education, research and knowledge – explanation of cross country differentials in economic growth and development.

The contents of units 4 and unit 5

have been

interchanged with slight modifications to make course more systematic

Note: The changes have been done in nomenclature, unit titles and contents as per the observations of experts regarding syllabi of other universities.

Reading list has been revised

ECM 302 1 Department proposing the course Economics

2 Course Title Public Economics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 302

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another Dept./Centre

NA

(26)

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation

and aims

It will give students the necessary background of different sources of government revenue and expenditure pattern and will enable them to understand budgetary issues.

(27)

S.

No. Cours

e No. Existing Contents Revised Justification

1. ECM

302 UNIT 1:

Nature and Scope of Public Finance; Role of Government in the Economy, Difference between Private & Public Finance; Objectives, Significance of Public Finance.

Concept of Public Goods &

Collective wants (basic).

UNIT 1: PUBLIC ECONOMICS THEORY

Fiscal Functions: An Overview;

Public Goods: Definition, Models of Efficient Allocation, Pure and Impure Public Goods, Free Riding; Externalities, The Problem and its Solutions, Market failure; Property Rights;

the Coase Theorem.

Contents have been reorganized as per the change in nomenclature of the course. The contents have been modified by adding topics like Externalities, Market failure;

Property Rights;

the Coase

Theorem.

2. ECM

302 UNIT 2: SOURCES OF PUBLIC REVENUE

Taxation-Classification,

Principles; Characteristics of a good tax system, Impact Incidence and shifting of Taxation, Effects of Taxation.

VAT-Appraisal, Black Money

UNIT 2: SOURCES OF PUBLIC REVENUE

Taxation: its economic effects;

dead weight loss and distortions; efficiency and equity considerations; different approaches to the division of tax burden; tax incidence;

optimal taxation (concept);

Elasticity and buoyancy, taxable capacity.

Contents have been elaborated, new and relevant issues have been incorporated

3. ECM

302 UNIT 3: PUBLIC EXPENDITURE

Trends in Public Expenditure &

Causes of growth of public expenditure In India. Meaning, classification, Principles, Role of Public Expenditure in a developing Economy, Deficit financing-measurement and economic effects

UNIT 3: PUBLIC EXPENDITURE AND DEBT Public Expenditure – Hypotheses, effects and evaluation; Public Debt - Sources, effects, burden and its management; Deficit Financing

Unit 4 has been merged with unit 3.

4. ECM

302 UNIT 4: PUBLIC DEBT Sources of public borrowing;

effects of public debt, methods of debt redemption; Growth of India’s debt

UNIT 4: BUDGET

Kinds of budget; Zero base budgeting; different concepts of budget deficits, Balance budget multiplier; Budget of union government of India

Budget has been shifted from unit 5 to unit 4 as it is important part of public economics.

5. ECM

302

UNIT 5: FINANCIAL ADMINISTRATION

Fiscal Federalism in India; The Public Budget- Cannons of Budgeting, Characteristics of a good Budget, Kinds of budget- economic & functional classification of the budget preparation and passing budget in India.

UNIT 5: INDIAN PUBLIC FINANCE

Indian Tax System: structure and reforms; Deficits and public debt; Fiscal federalism in India- Theories and problems of center - state financial relations in India, Horizontal and vertical imbalances, Finance Commission, Fiscal policy and fiscal reforms in India.

Unit title and contents have been amended as per the logical sequencing of the subject. Few important topics have been added.

(28)

Note: Nomenclature of the subject has been changed from Public Finance to Public Economics as per the nomenclature adopted by other universities.

Reading list has been revised

(29)

ECM 303

1 Department proposing the course Economics

2 Course Title Statistical Methods for Economics –I

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 303

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

This course will help the students understand the issues regarding data collection, processing organizing and presentation and the issues involved therein.

S.

No. Cours

e No. Existing Contents Revised Justification

1. ECM

303

UNIT 1:

Methods of Collection, Classification and Tabulation of Data; Simple Diagrammatic and Graphic Method of presentation of Data-bar Diagram, Pie Diagram, Histogram, Polygons and Ogives.

UNIT 1: BASIC CONCEPTS AND DATA PRESENTATION Definition and Role of Statistics; The distinction between populations and samples and between population parameters and sample statistics; Data collection; Classification and Tabulation of Data; Frequency distribution and its diagrammatic representation - Simple and Graphic Method of presentation, Data-bar Diagram, Pie Diagram, Histogram, Polygons and Ogives [Practice with excel]

Unit title has been added which was missing earlier.

Some topics like

sample and

population

concepts have been added to provide

complementarily to the subject. Also excel practice is added to ensure students have

hands on

experience of working at MS- Excel.

2. ECM

303 UNIT 2:

Measures of Central Tendency- Mean, Median and Mode, Geometric Mean and Harmonic Mean.

UNIT 2: MEASURES OF CENTRAL TENDENCY Measures of Central Tendency-Arithmetic Mean,

Median and Mode;

comparisons of mean, median and mode; Geometric Mean and Harmonic Mean; simple and weighted averages [Practice with excel]

Practice with excel and weighted average has been added to complete the study of range of different means.

3. ECM

303 UNIT 3:

Measure of Dispersion-Range, Variance, Q.D., M.D. and S.D.

and Coefficient of variation,

UNIT 3: MEASURES OF DISPERSION

Range; Mean Deviation;

Quartile Deviation and

Skewness has been shifted to unit four as it is aligned with the contents

(30)

Skewness-Concept &

Measurement.

Standard Deviation; Measures of Relative Dispersion, Coefficient of variation, Curve of Concentration; Measures of economic inequality [Practice with excel]

of unit four

(31)

4. ECM 303

UNIT 4:

Index Numbers-Concepts, Laspeyre’s, Paasche and fixed weight formulae, Fisher’s Index Number.

UNIT 4: SKEWNESS AND KURTOSIS

Skewness: meaning of skewness and symmetry of distribution; different measures of skewness; definition, types and measures of kurtosis; Karl Pearson’s coefficient of kurtosis. [Practice with excel]

Index number has been removed as it has been added with time series in the ECM 503 course.

5. ECM

303

UNIT 5:

Correlation-Meaning and types of Correlation, Degree of Correlation, Karl Pearson’s Coefficient of correlation, Rank Correlation Coefficient- Spearman’s Method.

UNIT 5: ELEMENTARY PROBABILITY THEORY Elements of Probability Theory: Sample Space, Probability Space, Events, Classical; Definition of Probability; The Addition Rule, The Multiplication Rule, Theorems of Total Probability, Conditional Probability and Statistical Independence;

Limitations of the Classical definition, Frequency definition, Axiomatic Approach, Bayes’ Rule [Practice with excel]

To maintain logical sequencing of the contents

elementary

probability theory has been replaced with correlation.

Correlation has found its way in the ECM 503

along with

regression.

Note: As per the experts’ suggestions theory must be coupled with application. Therefore practice with excel has been incorporated in each unit.

Reading list has been revised.

ECM 401

1 Department proposing the course Economics

2 Course Title Monetary Economics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 401

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another Dept./Centre

NA 9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims Students will have the fundamental understanding

of core issues in the light of theories concerning the role of money, interest rate and inflation.

(32)

S.

No. Cours

e No. Existing Contents Revised Justification

1. ECM

401 UNIT 1: MONEY & PRICES Fishers Transactions Approach to the QTM; Cambridge Cash Balance Approach; The Keynesian Theory of Money &

Prices; The Modern Quantity Theory of Money-Friedmans approach; Integration of Monetary Theory & Value theory-Keynes & Patinkin.

UNIT 1: DEFINITION, FUNCTIONS AND THEORIES OF MONEY

Money and its function; the concepts and definitions of money; measurement of money; advantages of money;

theories of demand for money:

the transactions and cash balance approach, the Keynesian analysis, Post Keynesian developments and Monetarist approach.

The unit 1 of existing course has been modified and unit 3 of existing course clubbed with unit 1 in revised course.

2. ECM

401 UNIT 2: MONEY SUPPLY Meaning; Determinants, Creation of Money; Central Bank’s measures of Money Supply (M1, M2, M3, M4); High powered Money & Money Multiplier; Velocity of Creation of Money.

UNIT 2: MONEY SUPPLY Financial Intermediaries- Nature and functions; theories of money supply; mechanistic model of money supply determination ; high powered money and behavioral model

of money supply

determination; methods of monetary control – Interest rates in closed and open economies – theories of term structure.

Contents have been elaborated

3. ECM

401 UNIT 3: DEMAND FOR MONEY Classical Theory; Keynesian Demand Function for Money;

Friedman's Theory of Wealth;

Recent development in Keynesian Demand Function for Money-Baumals Inventory Theory; Tobin;s Liquidity Preference as behaviour towards Risk, Emprical Evidence on Demand for Money.

UNIT 3: MONETARY TRANSMISSION

MECHANISM

Meaning – interest rate channel, credit channel, bank lending channel, balance sheet channel, exchange rate channel, other asset price channels.

New unit added

4. ECM

401 UNIT 4: THEORIES OF INTEREST

Theories of Interest-Classical;

Keynesian; Modern Theory;

Structure of Interest Rates;

Heterogeneity of Interest Rate determination, Interest Rate differentials,

Deficiencies in the prevailing system of Administrated rate of Interest.

UNIT 4: MONEY AND THE THEORY OF INTEREST Real and monetary theories of interest rates-the term structure and the yield curve- determination of equilibrium exchange rates

Contents have been modified as per the change in the title.

(33)

ECM 402

1 Department proposing the course Economics

2 Course Title International Economics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 402

6 Status Major Course

7 Status vis- a – vis other course (course number/ title)

NA 8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims It will orient the students in understanding

economic interaction among different countries and offers an insight into the different international policies.

5. ECM

401

UNIT 5: THEORIES OF INFLATION

Keynes Inflationary Gap, Demand Pull Inflation; Bent Hansen Dynamic Model of demand pull inflation; Cost push inflation; Demand Pull Inflation;

Philips Curve; Stagflation, Rationale Expectation Hypothesis (introductory).

UNIT 5: COMMERCIAL AND CENTRAL BANKING

Commercial banks-Functions and the process of credit creation, Banking sector reforms in India; Microfinance:

Concept and progress in India;

Central banks- objectives and methods of credit control;

Monetary Policy: Objectives, Targets and indicators, Monetary policy of RBI: An overview.

Conceptual

terminologies have been changed to give updated dimension to the subject.

Commercial and Central banking

have been

inserted in lieu of Theories of inflation (Unit-5) to avoid duplication of content as it has already been covered.

Note: The nomenclature has been changed as per the nomenclature adopted by other universities.

There is a change in titles of the units to make them relevant with the course contents.

(34)

S.

No. Cours

e No. Existing Contents Revised Justification

1. ECM

402 UNIT 1: THEORY OF INTERNATIONAL TRADE Difference between International trade and National trade. The comparative Cost Theory; The Opportunity Cost Theory;

Hecksher Ohlin Theory; Terms of Trade-Factors determining terms of Trade; Causes of adverse terms of trade in developing nations.

UNIT 1: THEORIES OF INTERNATIONAL TRADE

Difference between

International trade and National trade; The comparative Cost Theory; The Opportunity Cost Theory;

Hecksher Ohlin Theory; Terms of Trade-Factors determining terms of Trade; Causes of adverse terms of trade in developing nations.

No change

2. ECM

402 UNIT 2: FREE TRADE V/s PROTECTION

Free trade and protection, Tariffs- Types and effects;

Quotas and other quantitative restrictions.

UNIT 2: TRADE POLICY Protectionism vs Free trade;

Instruments of trade policy;

Political economy of trade policy; Controversies in trade policy

Unit 2 has been newly framed to give a better insight to the students regarding trade policies.

3. ECM

402 UNIT 3: FOREIGN EXCHANGE AND EXCHANGE CONTROLS Fixed and Flexible exchange rates; Spot and Forward Rates, Determination of Exchange Rate-Mint-Par Parity Theory and Purchasing Power Parity Theory;

Convertibility of currency &

devaluation. Currency Swaps – Foreign Exchange Risks, Hedging and Speculation

UNIT 3: FOREIGN

EXCHANGE AND

EXCHANGE CONTROLS Fixed and Flexible exchange rates; Spot and Forward Rates, Determination of Exchange Rate-Mint-Par Parity Theory and Purchasing Power Parity Theory;

Convertibility of currency &

devaluation. Currency Swaps – Foreign Exchange Risks, Hedging and Speculation

No change

4. ECM

402 UNIT 4: BALANCE OF PAYMENTS

Meaning and Structure; Balance of Trade and Balance of

Payment; Causes and measures to Correct dis-equilibrium in Balance of Payments. Current &

Capital accounts.

UNIT 4: BALANCE OF PAYMENTS

Meaning and Structure;

Balance of Trade and Balance of Payment; Causes and measures to correct dis- equilibrium in Balance of Payments. Current & Capital accounts

No change

5. ECM

402 UNIT 5: INTERNATIONAL MONETARY SYSTEM

The IMF, The World Bank (IBRD) and GATT/WTO.

UNIT 5: INTERNATIONAL INSTITUTIONS

The IMF; The World Bank, The WTO; Trade Blocks- SAARC, ASEAN, BRICKS, EU, ADB

Trade blocks have been added to unit 5 to give specific understanding of international blocks and its

impact on

international trade Note: The course number has been changed

Reading list has been revised

(35)

ECM 403

1 Department proposing the course Economics

2 Course Title Mathematical Methods for Economics

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 403

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

10 Will the course require visiting faculty? No 11 Course objectives including motivation and

aims

The student is exposed to economic concepts in mathematical format through simple illustrations and prepares the ground for more scientific study.

S.

No. Cours

e No. Existing Contents Revised Justification

1. ECM

403 UNIT 1

Equations-Solutions of Linear Equation, Quadratic equation (solution only) Use of Linear equations in economics.

UNIT 1 INTRODUCTION Principle of Mathematical Induction, Complex Numbers and Quadratic Equations, Log, Antilog: characteristics; Surds and Indices (laws), Binomial theorem (elementary)

Log, Antilog Surds have been shifted to unit 1 from unit 2 which help students in setting the base regarding representing a number and how it can be used.

2. ECM

403 UNIT 2

Logarithms-meaning,

characteristics and law, Surds and Indices (laws), Binomial theorem (elementary).

UNIT 2 BASIC CONCEPTS, FUNCTIONS AND GRAPHS Sets and set operations;

Ordered pairs; the real numbers; natural numbers;

integers; rational and irrational numbers; absolute value and intervals; inequalities. The general concept of function, types of function (linear, quadratic, power, exponential, inverse); graphs of functions;

Applications in Economics

Second unit has been changed and its earlier contents have been shifted to first unit.

Current contents are added to orient the student regarding

algebraic operations

required and help them with graphs.

3. ECM

403

UNIT 3

Determinants-Introduction, Expansion of 2nd order and 3rd order determinants; Properties, Minors, Cofactors, Properties of determinants, Cramer's rule.

Matrices-Introduction, Types, Basic operations-addition, Subtraction, Multiplication determinants, transpose, adjoint and inverse of a square

UNIT 3 DETERMINANTS Introduction, Expansion of 2nd order and 3rd order determinants; Properties, Minors, Cofactors, Properties of determinants, Cramer's rule Matrices-Introduction, Types, Basic operations-addition, Subtraction, Multiplication determinants, transpose, ad joint and inverse of a square

No change

(36)

matrix, system of linear equation and economic application of matrices.

matrix, system of linear equation and economic application of matrices.

(37)

4. ECM 403

UNIT 4

Differential Calculus- Differentiation, rules of differentials, economic applications, Logarithmic derivation and evaluation of elasticities; Partial derivatives and their economic applications.

UNIT 4 LIMITS, CONTINUITY AND SINGLE VARIABLE DIFFERENTIAL CALCULUS Limits, continuity and differentiability, rules of differentiation (simple differentiation, sums, products, and quotients); Second and higher order derivatives, power rule, chain rule, implicit differentiation; Linear approximation and differentials;

Quadratic approximations, Elasticities the Intermediate- value Theorem; the Extreme- value Theorem; The Mean- value Theorem; Indeterminate forms and L’Hopital’s rule;

Applications in Economics

The contents of this unit are expanded and specific sub topics are stated for better and specific understanding of the subject.

5. ECM

403 UNIT 5

Elementary Integral Calculus, Consumer Surplus and Producer Surplus. Economic Application of Integration.

UNIT 5 SINGLE VARIABLE OPTIMIZATION AND INTEGRAL CALCULUS Stationary points of a function, Maxima and Minima(local and global); Convexity and Concavity of functions; Points of inflection; Optimization of economic functions Rules of integration, integration by parts, integration by substitution, indefinite integral, Definite Integral, Proper and Improper integral; Areas under curves and economic application of integration

The contents are expanded and specific sub topics are stated for better and specific understanding of the subject.

Note: This course has been transferred from ECM 604 to this level to give mathematical orientation to the students so that they are able to understand the course ECM 501 and economics model properly.

It has been made mandatory to those students who wish to pursue Economics Honours Reading list has been revised

ECM 406

1 Department proposing the course Economics

2 Course Title Demography

3 L-T-P Structure Periods (55 mts. Each)/week:3 (L-3+T-0+P-0) min.pds./sem.:39

4 Credits 3

5 Course Number ECM 406

6 Status Major Course

7 Status vis- a – vis other course (course

number/ title) NA

8 Overlap with any UG/PG course of another

Dept./Centre NA

9 Faculty who will teach the course

(38)

10 Will the course require visiting faculty? Yes 11 Course objectives including motivation and

aims

The course educates the students about the inter- relationship between economic development and population, along with an exposition of the established theories of population.

References

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