Subject : M.A. Economics (Previous)
COMPULSORY PAPERS
SEMESTER-I
1. Microeconomic Analysis
2. Monetary Economics
3. Elementary Statistics
4. International Trade
5. Optional Paper-I
SEMESTER-II
6. Theory of Pricing and Distribution
7. Macroeconomic Analysis
8. Quantitative Methods
9. International Finance
10. Viva-Voce
M.A. (FINAL)
COMPULSORY PAPERS
SEMESTER-III
11. Economics of Growth
12. Public Economics
13. Issues in the Indian Economy
14. Economics of Industry
15. Optional Paper-II
SEMESTER-IV
16. Growth Models in Economics
17. Indian Public Finance
18. Selected Problems of the Indian Economy
19. Economics of Agriculture
20. Viva-Voce
OPTIONAL PAPERS
A. Quantitative Economics – I & II
B. Econometrics – I & II
C. Labour Economics – I & II
D. Demography – I & II
E. Economics of Gender and Development – I & II
F. Economics of Infrastructure – I & II
G. Financial Institutions and Markets – I & II
H. Economics of Insurance – I & II
NOTE:
1. Candidates are required to opt one of the optional papers.
2. Optional Paper – I is for M.A. (Previous) and Optional Paper – II is for M.A. (Final).
3. The candidate shall be required to write a long essay that will also form the basis for the viva-voce examination.
4. The candidate shall be assigned a supervisor to help to complete the essay.
SEMESTER-I
1. MICROECONOMIC ANALYSIS
Analytical Techniques of Economic Analysis Determination of Equilibrium and Optimisation.
Consumer Theory Utility and Indifference Curves, Consumer Optimum, Slutsky Theorem, Compensated Demand Curve; Modern Utility Analysis of Consumer’s Choices Under Risk and Uncertainty The Neumann-Morgenstern Method; Revealed Preference Theory; Recent Developments in Demand Theory The Pragmatic Approach, The Linear Expenditure System, Characteristics, Theory of Demand.
Producer’s Equilibrium and Production Functions Fixed Coefficient, Cobb-Douglas, CES; Elasticity of Factor Substitution; Cost Analysis Traditional and Modern Theories of Costs; Derivation of Cost Functions from Production Functions. General Equilibrium Theory its Stability and Uniqueness.
2. MONETARY ECONOMICS
Approaches Towards Determination of Money Supply Conventional, Friedman, Radcliffee Committee and Gurley and Shaw Approaches; RBI Approach to Money Supply; High Powered Money and Money Multiplier; Budget Deficits and Money Supply; Control of Money Supply.
Classical Approach to Demand for Money Quantity Theory Approach, Fisher’s Equation, Cambridge Quantity Theory, Keynes’s Liquidity Preference Approach.
Post-Keynesian Approach to Demand for Money Patinkin and Real Balance Effect; Approaches of Baumol and Tobin; Friedman and the Modern Quantity Theory; Crisis in Keynesian Economics and Revival of Monetarism.
3. ELEMENTARY STATISTICS
Types of Events Classical and Empirical Definitions of Probability; Laws of Addition and Multiplication; Conditional Probability; Baye’s Theorem; Concept of Random Variable and its Probability Distribution, Expectation of a Random Variable, Properties (without Proof) of Binomial, Poisson and Normal Distributions.
Simple Random Sampling; Desirable Properties of an Estimator; Statistical Hypotheses Null and Alternative; Type I and Type II Errors; Confidence Intervals; Testing of Hypothesis Based on t, 2 and F Statistics.
4. INTERNATIONAL TRADE
Theories of International Trade: Heckscher-Ohlin Theory of Trade; Theorem of Factor Price Equalization; The Rybczynski Theorem; Kravis and Linder Theories of Trade.
Measurement of Gains from Trade and their Distribution; Concepts of Terms of Trade, Uses and Limitations; Hypothesis of Secular Deterioration of Terms of Trade; Trade as an Engine of Growth; Welfare Implications; The Theory of Interventions (Tariffs, Quotas and Non-tariff Barriers); Economic Effects of Tariffs and Quotas on National Income, Output, Employment, Terms of Trade, Income Distribution; Nominal, Effective and Optimum Rates of Tariffs their Measurement, Impact and Welfare Implications.
5. OPTIONAL PAPER-I
A. QUANTITATIVE ECONOMICS-I
Concentration Curve; Lorenz Curve and Gini Coefficient; Pareto Distribution and Log-normal Distribution; Concept of Poverty; Head-Count Ratio, Income-Gap Ratio, Sen’s Poverty Index.
Optimisation and Linear Programming; Solution of Linear Programming Problem: Simplex Method; Duality Theorem; Interpretation of Duality in Economics; Introduction to Transport Problem.
B. ECONOMETRICS-I
Simple and General linear Regression Model Assumptions, Estimation (OLS) and Properties of Estimators; Gauss-Markov Theorem; Specification Error; Errors of Measurement; Dummy Variable, Instrumental Variable, Restricted Least Squares.
Generalised Least Squares, Grouping of Observations and Equations, Heteroscedasticity, Auto-Correlation, Multi Co-linearity; Seemingly Unrelated Regression Estimators.
Distributed Lag Models Koyak Reduction, Partial Adjustment and Adaptive Expectations, Almon’s Approach.
C. LABOUR ECONOMICS-I
Labour Its Characteristics; Role of Labour in Economic Development W.A. Lewis and Ranis Fie; Mobility and productivity of labour; Rationalization; Methods of Recruitment and Placement; Employment Service Organization in India.
Employment and Development Relationship Unemployment: Concept, Types, and Measurement, particularly in India; Public Sector and Employment in Agricultural Sector; Analysis of Educated Unemployment; Employment Policy in Five Year Plans and its Evaluation.
Classical, Neo-classical and Bargaining Theories of Wage Determination; Concepts of Minimum Wage, Living Wage and Fair Wage in Theory and Practice; Discrimination in Labour Markets; Productivity and Wage Relationship; Analysis of Rigidity in Labour Markets; National Wage Policy; Wages and Wage Boards in India; Bonus System and Profit Sharing.
D. DEMOGRAPHY-I
Meaning and Scope of Demography; Sources of Population Data; Population Trends in Twentieth Century; Population Explosion Pattern of Age and Sex Structure in More Developed and Less Developed Countries; Age Pyramids and Projections: Population and Development.
Importance of Study of Fertility, Factors Affecting Fertility Socio-economic Factors, Economic Status, Health, Education, Nutrition, Caste, Religion, Race, Rural-urban Linkages and Status of Husband and Wife; Nuptiality Concept and Analysis of Marital Status, Single Mean Age at Marriage; Trends in Age at Marriage; Factors for Decline in Mortality in Recent Past.
E. ECONOMICS OF GENDER AND DEVELOPMENT-I
Importance and Concepts of Women Studies Women in Patriarchal and Matriarchal Societies and Structures, Patrilineal and Matrilineal Systems and Relevance to Present Day Society in India; Economic Basis and Functioning of Patriarchy in Developed and LDCs, Particularly India; Gender Bias in the Theories of Value, Distribution, and Population.
Demography of Female Population: Age Structure, Mortality Rates, and Sex Ratio Causes of Declining Sex Ratios and Fertility Rates in LDCs and particularly in India Theories and Measurement of Fertility and its Control; Women and their Access to Nutrition, Health, Education, and Social and Community Resources, and their Impact on Female Mortality and Fertility.
Factors Affecting Decision Making by Women; Property Rights, Access to and Control over Economic Resources, Assets; Power of Decision Making at Household, Class, Community Level; Economic Status of Women and its Effect on Work-participation Rate, Income Level, Health, and Education in Developing Countries and India; Role of Kinship in Allocating Domestic and Social Resources.
Concept and Analysis of Women’s Work: Valuation of Productive and Unproductive Work; Visible and Invisible Work; Paid and Unpaid Work; Economically Productive and Socially Productive Work Economic Status, Private Property, and Participation of women in Pre-industrial and Industrial Societies Female Contribution to National Income.
Factors Affecting Female Entry in labour Market; Supply and Demand for Female Labour in Developed and Developing Countries, particularly India; Studies of Female Work Participation in Agriculture, Non-agricultural Rural Activities, Informal Sector, Cottage and Small-scale Industries, Organized Industry, and Services Sector; Wage Differentials in Female Activities; Determinants of Wage Differentials; Gender, Education, Skill, Productivity, Efficiency, Opportunity; Structures of Wages Across Regions and Economic Sectors.
F. ECONOMICS OF INFRASTRUCTURE-I
Infrastructure and Economic Development Infrastructure as a Public Good; Social and Physical Infrastructure; Special Characteristics of Public Utilities. The Peak-load, Off-Load Problem, Dual Principle Controversy; Economies of Scale of Joint Supply; Marginal Cost Pricing vs. Other Methods of Pricing in Public Utilities; Cross-subsidization Free Prices, Equity and Efficiency.
The Structure of Transport Costs and Location of Economic Activities. Demand for Transport. Models of Freight and Passenger Demand. Model Choice; Cost Functions in the Transport Sector. Principle of Pricing. Special Problems of Individuals Modes of Transport; Inter-modal Condition in the Indian Situation.
Rate-making in Telephone Utilities. Principles of Decreasing Costs in Telephone Industry. Characteristics of Postal Services. Criteria for Fixation of Postal Rates. Measurement of Standards of Service in Telephone and Postal Utilities; Organization and Financing of Supply of Social Services. Private vs. Public Sector Financing; Recent Debate about the Fixation of Prices of Social Services. Development of Social Services in the Successive Indian Plans.
G. FINANCIAL INSTITUTIONS AND MARKETS-I
Money and Finance Money and Near-money Financial Intermediation and Financial Intermediaries The Structure of the Financial System Functions of the Financial Sector Indicators of Financial Development Equilibrium in Financial Markets Financial System and Economic Development Criteria to Evaluate Assets: Risk and Financial Assets, Types of Risk, Return on Assets, Risk Return Trade Off Valuation of Securities.
Theories of Interest Rate Determination Level of Interest Rates Long Period and Short Period Rates Term Structure of Interest Rates Spread Between Lending and Deposit Rates Administered Interest Rates Appropriate Interest Rate policy.
Functions of Central Bank The Aims and Objectives of the Monetary Policy in Developed and Developing Countries Instruments of Monetary Policy Proliferation of Banking and Non-bank Financial Intermediaries Effectiveness of Monetary Policy Credit Creation and its Control; Profitability and Efficiency of Banks; Development Banks Role and Functions; Investment Banking and Merchant Banking.
H. ECONOMICS OF INSURANCE-I
Risk Management and Insurance in Economic Development, Insurance Institutions as Financial Intermediaries; Insurance Institutions as Investment Institutions; Insurance Institutions in Indian Capital Market; Regulations Governing Investments of Insurance Institutions in India; IRDA Rules in this Regard.
Economic Security; Human Quest for Economic Security Through Time; Exposure to Losses; Role of Insurance; Definition of Insurance; Risk Pooling and Risk Transfer; Economic and Legal Perspectives, Social vs. Private Insurance; Life vs. Non-life Insurance; Classification of Life, Health and General Insurance Policies.
Fundamentals of Uncertainty and Risk; Pure Risk and Speculative Risk; Expected Utility and Decision-making Under Uncertainty; Expected Utility and the Demand for Insurance; Moral Hazard and Insurance Demand; Concept of Risk Management; Essentials of Risk Management; Elements of Risk Management Risk Assessment; Risk Control and Risk Financing; World Wide Risk Sharing Concept of Reinsurance, Fundamentals of Reinsurance, Types of Reinsurers; Reinsurance Distribution Systems, Reinsurance Markets in Developing Countries.
Fundamentals of Life and Health Insurance; Functions of Life and Health Insurance; Mathematical Basis of Life Insurance; Plans of Life Insurance; Legal Aspects of Life Insurance; Provisions of Policies; Selection and Classification of Risks; Basics of Premium Construction; Valuation and Distribution of Surplus; Individual Health Insurance; Uses, Types of Evaluation; Principles of Underwriting of Life and Health Insurance; Group Insurance and Superannuation (pension) Schemes; Set up and Management of Insurance Companies.
SEMESTER-II
6. THEORY OF PRICING AND DISTRIBUTION
Equilibrium of a Firm under Monopolistic Competition Assumptions, Costs, Product Differentiation, Concept of Industry and Group, Theory of Excess Capacity; Oligopoly Non-collusive (Cournot, Sweezy), Collusive (Cartels, Price Leadership,); The Marginalist Controversy Full Cost Pricing Theory (The Hall and Hitch Report); Limit Pricing Theory (Bain’s Theory); Managerial Theory of the Firm (Baumol’s Theory of Sales Revenue Maximisation).
Factor Pricing Elasticity of Factor Substitution and the Shares of Factors of Production; Euler’s Product Exhaustion Theorem.
Pigouvian Welfare Economics; The Paretian Optimum; Value Judgement; Social Welfare Function; Compensation Principle.
7. MACROECONOMIC ANALYSIS
National Income: Components and Measurement; Circular Flow of Income; National Income Accounting: Theory and Practice; Problem of Aggregation.
Consumption Function; Keynes’ Psychological Law of Consumption, Factors Affecting Consumption Function; Empirical Evidence on Consumption Function; Income-Consumption Relationship Absolute Income, Relative Income, Life Cycle and Permanent Income Hypotheses; Multiplier
Investment Function: Autonomous and Induced Investment; Marginal Efficiency of Capital; Determinants of Investment; The Acceleration Principle
Theories of Rate of Interest: Classical.
Neo-classical and Keynesian Views on Interest; The IS-LM Model; Extension of IS-LM Model with Government Sector; Effectiveness of Monetary and Fiscal Policies.
Classical, Structural and Monetarist Approaches to Inflation; Inflationary Gap and Double Inflationary Gap (Bent Hanson); Phillips Curve Analysis Short Run and Long Run Phillips Curve; Samuelson and Solow the Natural Rate of Unemployment Hypothesis; Tobin’s Modified Phillips Curve.
Business Cycle Theories Samuelson and Hicks, Goodwin, Kaldor; Control of Business Cycles Relative Efficacy of Monetary and Fiscal Policies.
Macroeconomics in an open economy: Mundell-Flemming Model.
8. QUANTITATIVE METHODS
The Concept of Function and Derivative; Rules of Differentiation; Interpretation of Revenue, Cost, Demand and Supply Functions; Elasticities and their Types; Production Functions; Rules of Partial Differentiation and Interpretation of Partial Derivatives; Constrained Optimisation Method of Lagrange Multiplier; Concept of Integration and Its Application to Consumer’s Surplus and Producer’s Surplus.
Introduction to Matrix and Vector: Eigen Vectors; Concept of Difference and Differential Equations with Application.
Method of Estimation, Assumptions and the Concept of Best Linear Unbiased Estimate; Ordinary Least Squares Method of Regression; Standard Error of Estimate; Estimation of Demand Function Engel’s Law.
9. INTERNATIONAL FINANCE
Meaning and Components of Balance of Payments; Equilibrium and Disequilibrium in the Balance of Payments; The Process of Adjustment under Gold Standard, Fixed Exchange Rates and Flexible Exchange Rates; Expenditure-reducing and Expenditure-switching Policies and Direct Controls for Adjustment; A Critical Review of the Monetary Approach to the Theory of Balance of Payments Adjustment; Foreign Trade Multiplier with and without Foreign Repercussions and Determination of National Income and Output;
Forms of Economic Cooperation; Static and Dynamic Effects of a Customs Union; Rationale and Economic Progress of SAARC/SAPTA and ASEAN Regions.
10. VIVA-VOCE
At the time of Viva-Voce, each student will present an essay written by him/her under the guidance of the teacher of the Department.
COMPULSORY PAPERS
M.A. (FINAL)
SEMESTER-III
11. ECONOMICS OF GROWTH
Economic Growth and Development Factors Affecting Economic Growth; Problem of Economic Growth and The General Solution; Growth Equilibrium Existence, Uniqueness and Stability; Classical Theory of Growth General, Ricardo and Adam Smith; Growth Models of Harrod and Domar and Instability of Growth.
Solutions of Instability Problem; Neo-Classical Models of Growth R.M. Solow, T.W. Swan and E.S. Phelps; Neo-Keynesian Models of Growth N. Kaldor, L. Pasinetti and Ms. Joan Robinson; Concept of Golden Age and Golden Rule of Accumulation; Two-Sector Growth Model H. Uzawa and Comment by R.M. Solow.
12. PUBLIC ECONOMICS
Role of Government in an Economy The Allocation, Distribution and The Stabilisation Functions; Private Goods, Public Goods, and Merit Goods; Market Failure Imperfections, Decreasing Costs, Externalities.
Public Expenditure Wagner’s Law of Increasing State Activities; Wiseman- Peacock Hypothesis; Pure Theory of Public Expenditure; Criteria for Public Investment; Cost-Benefit Analysis Project Evaluation; Reforms in Expenditure Budgeting: Performance and Programme Budgeting and Zero Based Budgeting.
Taxation Principle of Taxation: Benefit and Ability to Pay Approaches; Indices of Ability to Pay; Incidence of Taxation Impact, Incidence and Effects of a Tax, Backward and Forward Shifting.
Sources of Public Debt; Debt Through Created Money; Public Borrowing and Price Level; Classical View of Public Debt; Compensatory Aspect of Debt Policy; Burden of Public Debt; Crowding Out of Private Investment and Activity; Principles of Public Debt Management and Repayment.
13. ISSUES IN THE INDIAN ECONOMY
The Issues of Indian Economy on:
1. National Income Trends.
2. Poverty and Inequality.
3. Problem of Unemployment.
4. Parallel Economy in India
5. Human Resource Development & Social Infrastructure (Education and Health).
6. Role of NGOs in Development
14. ECONOMICS OF INDUSTRY
Growth and Forms of Industrial Combinations Causes, Types and Forms.
Theories of Location, Diversification, Vertical Integration and Merger of Industrial Units, Project Appraisal: Cost-Benefit Analysis Net Present Value and Internal Rate of Return Criterion.
Industrial Productivity Measurement and Determinants; Forms of Organisation and Alternative Objectives of a Firm; Industrial Efficiency Concepts and Measurement; Product Pricing Theories and Evidence.
Mode of financing: Equity, Debenture, Public Deposits, Banking and Non-Banking Institutions, The Financial Ratios and Their Analysis.
15. OPTIONAL PAPER-II
A. QUANTITATIVE ECONOMICS-II
Input-Output Analysis Assumptions; The Technological Coefficient Matrix; Open Input-Output System, Transaction Table, Input-Output Flow Matrix; Static Input-Output Analysis, The Hawkins-Simon Condition; Dynamic Input-Output Model Input and Capital Matrix.
Basic Concept of Game Theory; Pure and Mixed Strategies; Pay-off Matrix; Two-Person Zero-Sum Game; Maximin and Minimax Strategies; Saddle Point and Solution to a Matrix Game; Dominated Strategies.
B. ECONOMETRICS-II
The Simultaneous Equation Bias and Inconsistency. The Identification Problem Order and Rank Conditions Restrictions on Variances and Co-variances; Methods of Estimation: Recursive System and OLS; Indirect Least Squares (ILS); Two-stage Least Squares, k-class Estimator and Three-Stage Least Squares Method.
Ridge Regression, Random Coefficient Method of Estimation; Pooling of the Time Series and Cross-section Data; Specification and Estimation of Demand Functions Engel’s Law.
Error Correction Mechanism, Causality Test, Granger Test.
C. LABOUR ECONOMICS-II
Theories of Origin and Growth of Labour Movement Growth, Pattern and Structure of Labour Unions in India, Achievements and Failures of Labour Unions;
Industrial Relations Industrial Disputes and industrial Peace; Causes of industrial Disputes and their Settlement and Prevention Mechanism; Role of Tripartism; Labour Legislation in India; Indian Labour Laws and Practices in Relation to International Labour Standards.
State and Social Security of Labour Concept of Social Security and its Evolution; Social Assistance and Social Insurance; Review and Appraisal of State Policy with Respect to Social Security and Labour Welfare in India;
Special Problems of Labour: Child Labour, Female Labour, Discrimination and Gender Bias in Treatment of Labour; Labour Market Reforms in India Second National Commission on Labour; Globalisation and Labour Markets.
D. DEMOGRAPHY-II
Migration and Urbanization Concept and Types; Pattern of Migration and Urbanisation; Factors Affecting Migration; Theories of Migration Related to Internal Migration; Urbanization Growth and Distribution of Rural-urban Population in Developed and Developing Countries.
Census of India Methodology and Characteristics of Census; Censuses of 1981, 1991 and 2001 in India; Changing Characteristics of Population in India; Population and Human Development Issues; Culture and Fertility; Education and Fertility; Demography and Household Economic Behaviour.
Evolution of Population Policy in India Family Planning Strategies and their Outcomes; Population and Strategies for Human Development of Different Social Groups; Social Impact of New Reproductive Technologies and their Regulation; The New Population Policy; Tasks Before the National Population Commission.
E. ECONOMICS OF GENDER AND DEVELOPMENT-II
Impact of Technological Development and Modernization on Women’s Work Participation in General and in Various Sectors such as Agriculture, Non-agriculture Rural Activities, Small and Cottage Industries and Organized Industry Female Activities and Ecological and Environmental Concerns: the Two Way Relationship Role of New Technologies for Helping Women Provision of Information and Training for Simple Harvesting of Economic Services.
Social Security of Women: Entitlements, Ensuring Economic Independence and Risk Coverage, Access to Credit and Insurance Markets; Role of Voluntary Organizations, Self-help Groups in Providing Social Security; Labour Market Biases and Gender Discrimination; Effectiveness of Collective Bargaining; Review of Legislation for Women’s Entitlements, Protection of Property Rights, Social Security Schemes for Safety Net for Women; Need for Female Labour Unions; Affirmative Action for Women and improvement in their Economic and Social Status.
Gender and Development Indices; Mainstreaming Gender into Development Policies; Gender-planning Techniques; Gender Sensitive Governance; Paradigm Shifts from Women’s Well-being to Women’s Empowerment; Democratic Decentralization (panchayats) and Women’s Empowerment in India.
F. ECONOMICS OF INFRASTRUCTURE-II
Primacy of Energy in the Process of Economic Development. Factors Determining Demand for Energy; Effects of Energy Shortages. Energy Conservation. Renewable and Non-conventional Sources of Energy. The Search for an Optimal Energy Policy in the Indian Context.
Bulk Supply and Pricing of Electricity. The Relative Economics of Thermal, Hydel and Nuclear Power Plants. The Case for a National Power Grid. Financing Water Utilities. Urban and Rural Water Supply. The Exploitation of Natural Gas. Pricing Problem.
Education and Economic Growth. Approaches to Educational Planning. Social Demand. Rate of Return and Manpower Balance Approaches. The Case for Universal, Free, Primary Education; Structure of Higher Education and Problems of its Financing in India; Human Resources and Human Capital Development. The Issues in Education Policy; Health Dimensions of Development; Determinants of Health Poverty, Malnutrition, Illiteracy and Lack of Information; Economic Dimensions of Health Care Demand and Supply of Health Care; Financing of Health Care and Resource Constraints; Inequalities in Health Class and Gender Perspectives; Institutional Issues in Health Care Delivery.
G. FINANCIAL INSTITUTIONS AND MARKETS-II
Definition and Types of Non-bank Financial Institutions: Their Growth and Impact on India’s Economic Development, Measures Taken to Control their Operations.
Role and Structure of Money Market and Capital Market Call Money Market. Treasury Bill Market, Commercial Bill Market Including Commercial Paper and Certificate of Deposits, Discount Market Government Securities Market Markets for Derivatives: Futures and Options, and Other Derivatives: Types, Uses and Pricing of Derivatives Primary and Secondary Market for Securities; SEBI: its Impact on the Working of Capital Market in India; IRDA and its Role in Financial Markets.
Nature, Organization and Participants Exchange Rates Devaluation, and Depreciation Working of Floating Exchange Rates Since 1973 Risk Hedging and Futures in Exchange Rates International Financial Flows, Forms and Volume Rise and Fall of Brettonwood Institutions International Liquidity Post Maastricht Developments Reforms in International Monetary System for Developing Countries.
H. ECONOMICS OF INSURANCE-II
Definition of General Insurance; Types of General Insurance; Importance of General Insurance; Importance of General Insurance in a Country’s Economic Development; Concept of Short-term Risk; Fundamentals of the Following Concepts Common Law, Equity, Proposal/Accedence, Indemnity, Insurable interest, Contribution Subrogation, Representation; Utmost Good Faith, Material fact, Physical Hazard, Moral Hazard; Policy Endorsements Conditions/Warranties; Selection of Risks; Inspection of Risks; Rating and Calculation of Premiums; Tariffs and Non-tariffs; Marketing of General Insurance; Technology Development and General Insurance.
Regulation of Insurance; Purpose of Government Intervention in Markets; Theories of Regulation; Insurance Regulation in India; Insurance Regulation and Development Authority (IRDA).
Wealth Accumulation Planning; Life Cycle Planning; Planning for Accumulation, Objectives; Purchase of Insurance and Accumulation Planning; Investments Tax-advantaged and Tax Non-advantaged; Essentials of Individual Retirement Planning; Analysis of Retirement; Income Needs; Retirement Planning Strategies; Investing for Retirement, Pension Plans; Basic Principles of Pension Plans; Pension Plans in India; Estate Planning; Process of Estate Planning; Estate Planning Tools; Life Insurance for Estate Liquidity.
SEMESTER-IV
16. GROWTH MODELS IN ECONOMICS
Capital Controversies in the Theory of Capital Neo-Classical and Neo-Keynesian Versions; P.A. Samuelson’s Effort; Reswitching of Techniques.
Technology and Growth Technical Change Disembodied and Embodied; Neutral Technical Change Hicks, Harrod and Solow; Elasticity of Substitution and Neutrality of Technical Change; Significance of Harrod Neutral Technical Change in Growth Models; Embodied Technical Change Kaldor, Kennedy, Learning by Doing K.J. Arrow.
Money and Growth James Tobin and H.G. Johnson; Elementary Treatment of Optimum Growth Models Keynes-Ramsey Rule.
17. INDIAN PUBLIC FINANCES
Objectives of Fiscal Policy; Interdependence of Fiscal and Monetary Policies; Budgetary Deficits and its Implications; Built-in-flexibility and Functional Finance; Balanced budget Multiplier.
Theory of Federal Finance; Division of Functions and Resources; Fiscal Federalism in India; Vertical and Horizontal Imbalance; Assignment of Function and Sources of Revenue; Constitutional Provisions; Finance Commissions and The Planning Commission; Devolution of Resources and Grants; Resource Transfer from Union to States Criteria for Transfer of Resources; Centre-State Financial Relations in India; Problems of States’ Resources and Indebtedness; The Need for Transfer of Resources; The Role of the Finance Commission.
The Indian Tax System: Revenue of the Union, States and Local Bodies; Major Taxes in India: Base of Taxes; Direct and Indirect Taxes, Taxation of Agriculture, Expenditure Tax, Taxes on Services; Reforms in Direct and Indirect Taxes; Non-tax Revenue of Centre, State and Local Bodies;
Analysis of Central and State Government Budgets; Trends in Public Expenditure and Public Debt; Fiscal Crisis and Fiscal Sector Reforms in India.
18. SELECTED PROBLEMS OF THE INDIAN ECONOMY
Problems of the Indian Economy Related to:
1. Growth of Monopolies and Concentration of Economic Power
2. Multinationals in India
3. Problem of Sickness in Industries in India
4. Problems of Small Scale and Cottage Industries
5. Liberalisation, Privatisation and Globalisation of t he Indian Economy
6. Financial Sector Reforms
7. Indian Agriculture and the WTO
19. ECONOMICS OF AGRICULTURE
Linkages Between Agriculture and Industry, Traditional Agriculture and its Modernisation, Agricultural Development Models: Lewis, Schultz, and Mellor; Cobweb Model.
Agricultural Cost and Production, Supply Response in Agriculture, Price and Non-price Incentives.
Farm Size; Production and Productivity Introduction, Relationship Between Farm Size and Productivity, Green Revolution, Returns to Scale and the Inverse Relationship; Size of the Farm and Profitability.
Emerging Issues and Challenges of Indian Agriculture in World Trade Organisation WTO.
20. VIVA-VOCE
At the time of Viva-Voce, each student will present an essay written by him/her under the guidance of the teacher of the Department.
Index Post Graduate Course Syllabus: Click Here