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VINOBA BHAVE UNIVERSITY, HAZARIBAG
Department of Economics
Syllabus
M.A. (Economics)
SEMESTER - I
Paper – I
Micro Economics Analysis
Paper – II
General Economic Analysis
Paper – III
Macro Economic Analysis
Paper – IV
Quantitative Technique
Paper – V
Demography
Paper – VI
Economics of Social Sector and Environment
SEMESTER – I
PAPER – I
MICRO ECONOMIC ANALYSIS
Full Marks – 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module-I
Introduction and Basic Concept
Static and Dynamic Economics; Micro and Macro Economics; Basic Economic
Problems, Choice and scarcity; Positive and normative Economics; Model
building in economics.
Module-II
Demand Analysis
Cardinal and Ordinal Analysis- Consumer’s equilibrium, Income,
Substitution and Price Effects, Derivation of demand curve from indifference
curves, Comparative analysis of cardinal and ordinal theories, Revealed
Preference Theory of Samuelson and derivation of demand curve.
Module-III Pricing under different market conditions
Supply curve under perfect competition, Discriminating Monopoly,
Monopolistic competition - selling cost excess capacity and product
differentiation. Oligopoly- concept and equilibrium, kinked demand curve.
Module-IV Alternative Theory of Firm
Baumol’s sale revenue maximization, Williamson’s model of managerial
discretion, Morris model of managerial enterprise, Game Theory models.
Basic Text
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Baumol, William J. (1987), Economic Theory and Operations Analysis, Prentice Hall of
India Pvt Ltd, New Delhi.
Bilas, R.A. (1971), Micro Economic Theory, McGraw Hill Kogakausha, Ltd.
Choudhary, Kalyanjit Roy (2005), Principles of Micro Economics (Theory, Applications
and Problems), Khosla Publishing House, New Delhi.
Henderson, James M. and Richard E. Quandt (2006), Micro Economic Theory- A
Mathematical Approach, Tata McGraw Hill, New Delhi.
Koutsoyiannis, A. (1979), Modern Micro Economics, McMillan Press, London.
Stonier, Alfred W. And Douglas C. Hague (2008), A textbook of Economic Theory,
Pearson Education.
Supplementary Readings
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Gravelle, Hugh and Ray Rees (2008), Micro Micro Economics, Pearson Education.
Lipsey and Chrystal (2008) Economics, Oxford University Press, New Delhi.
Salvatore, Domimick (2003) Micro Economics, Oxford University Press, New Delhi.
Stigler, George J. And Kenneth E. Boulding (1956), Readings in Price Theory, George
Allen and Unwin Ltd.
Pindyck Robert S. And L. Rubinfeld (2005), Micro Economics, Pearson Education.
Whinston and Green (2007) Micro Economic Theory, Oxford University Press, New
Delhi.
SEMESTER - I
PAPER - II
GENERAL ECONOMIC ANALYSIS
Full Marks - 70
Time-3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Micro Economic Analysis
Elasticity of Demand- Price, Income, and Cross, Elasticity of Substitution
Elasticity of Supply, Modern Theory of Consumer’s Surplus by Hicks, Revision of
Demand Theory of Hicks.
Module- II Pricing under different market conditions
Equilibrium of the Firm and Industry under Perfect competition, Concept and
equilibrium under Duopoly and Bilateral Monopoly.
Module- III Macro economics and theories of fluctuations
Theory of Super Multiplier, Relative effectiveness of monetary and Fiscal
policies, Trade cycle theory of Hawtrey and Kaldor.
Module-IV Quantitative Economics
Cob- Web Model (Supply lag and demand lag ), Oligopoly- Cournot and
Edgeworth models.
SEMESTER – I
PAPER – III
MACRO ECONOMIC THEORY
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module-I
National Income Accounting
Different Concepts of National Income; Circular Flow of Income in two three
and four sector Economy; Different forms of National Income Accounting,
Social Accounting, Measurement of National Income.
Module-II
Consumption Function
Keynesian Psychological Law of Consumption; Short run, Long run
consumption function; Income- Consumption relationship- Absolute Income;
Relative Income; Life- Cycle and Permanent Income hypothesis.
Module-III Investment Function
Determinants of Investment function; Marginal Efficiency of Investment and
level of investment; Marginal efficiency of capital and investment; Theory of
Multiplier and accelerator.
Module-IV Theories of Business cycle
Theories of Schumpeter, Samuelson and Hicks, Control of Business Cycle.
Basic Text
 Ackly, G. (1978), Macroeconomics: Theory and Policy, Macmillan, New York.
 Dernberg and McDougal (1983), Macro Economics The Measurement, Analysis and
Control of Aggregate Economic Activity, McGraw Hill.
 Dornbusch, R. and F. Stanley (1997), Macroeconomics, McGraw Hill, Inc., New York.
 Mankiw, N.G. (2007), Principles of Macro Economics, Thomson Learning.
 Shapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New Delhi.
Supplementary Readings
 Froyen, Richard T. (2006), Macro Economics Theories and Policies, Pearson
Education.
 Jha, R. (1991), Contemporary Macroeconomic Theory and Policy, Wiley Eastern Ltd.,
New Delhi.
 Jha, R., Macro Economics for Developing Countries, Routledge Publications.
 Hubbard, R. Gleen and Anthony Patrick O’Brien (2007) Macro Economics, Pearson
Education.
 Romer, D.L. (1996), Advanced Macroeconomics, McGraw Hill Company Ltd., New
York.
SEMESTER – I
PAPER – IV
QUANTITATIVE TECHNIQUES
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Mathematical Method- I
Concept of function, Derivatives and its application in economics (Maxima,
Minima, Pricing under perfect competition, Monopoly and duopoly, Elasticity
of economic function); Exponential and logarithmic functions.
Module- II Mathematical Method- II
Partial derivative and its application- Partial elasticity of demand; Young’s
Theorem; Homogeneous functions and Euler’s theorem; Integration and its
applications.
Module- III Mathematical application- III
Determinants and its properties; Solution of equation by Cramer’s rule, MatrixSimple operation, Inverse and Rank of a matrix.
Module- IV Mathematical Method- IV
First order differential equation, General and Particular solutions, Applications
of differential equation, Applications in trade cycle models of Samuelson and
Hicks.
Basic Text
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Allen, R.G.D (1974), Mathematical Analysis for Economist, Macmillan Press and ELBS,
London.
Anthony, Martin and Norman Biggs (2009), Mathematics for Economics and Finance
Methods and Modelling, Cambridge University Press.
Chiang, A.C. (1986), Fundamental Methods of Mathematical Economics, McGraw
Hill, New Your
Yamane, Taro (2975), Mathematics for Economists, Prentice Hall of India, New Delhi.
Supplementary Readings
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Gondalfo, G., Mathematical Methods and Models in Economic Dynamics Ch- 1 to 7.
SEMESTER- I
PAPER- V
DEMOGRAPHY
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Theory and concept of Demography
Meaning and scope of Demography; Components of Population growth
(Fertility and Mortality) and their interdependence; Theories of PopulationMalthus, Optimum Theory of Population; Theory of Demographic transition.
Module- II Population and Development
Population and Development, factors affecting Migration and Urbanization;
Growth and Distribution of rural Urban population in developed and
developing countries.
Module- III Structure of Population
Pattern of Age and Sex structure in more developed and less developed
countries; Demographic effects of Sex and age structure; Economic and Social
implication of age- sex structure.
Module- IV Population Pyramid and Census
Age and Sex Pyramids and its Projection in less developed, developing and
developed countries- Importance of Population Pyramid. Study of Census in
India- 2001 and 2011.
Basic Text
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Chiang, C.L. (1974), Life Tables and Mortality Analysis, WHO, Geneva.
Pathak, K.B. AND F. Ram, Techniques of Demographic Analysis, Himalaya Publishing
House.
Srinivashan, K., Basic Demographic Techniques and Applications, Sage Publications.
Supplementary Readings\
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Bouge, D.J. (1971), Principles of Demography, John Wiley, New York.
Bhende Asha A. And Tara Kanitkar, Populations of Population Studies, Himalaya
Publishing House.
Novell, C., Methods and Models in Demography, Bellhaven, Washington D.C.
NFHS report.
Sharma, Rajendra K., Demography and Population Problems, Alantic Publications.
Shyrock, H., et al. (1973), The Methods and Materials of Demography, U.S. Dept. of
Commerce Press, London.
Srinivasan, K. And A. Shariff (1998), India: Towards Population and Demographic
goals, Oxford University Press, New Delhi.
SEMESTER- I
PAPER- VI
ECONOMICS OF SOCIAL SECTOR AND ENVIRONMENT
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module-I
Basics of Environmental Economics
Economic Development and Environment- Sustainable development;
Environmental externalities. Property Rights, Pigovian taxes; Measurement of
Environmental values- Use values- Use values; Option values and non use
values.
Module- II Environmental Issues
National Environmental policy, Environmental management and people’s
participation (PPP), Policy of instruments for controlling water and air
pollution, Social forestry- rationale and benefits.
Module-III Economics of Social Sector
Importance of Social Sector- Education and health, Human Capital Vs Physical
Capital. Education as Instrument of Economic Growth, Problems of Health
Sector in India.
Module- IV Social Sector Development in India
Status of health and education in India- Problems and suggestions; Financing of
education in India. Indicators of Health Status Rural and Urban Health Care
Infrastructure, Financing of Health Services in India.
Basic Text
BASIC READING LIST

Chenery H. and TN. Srinivasan (Eds.) (1989), Hand Book of Development Economics,
Vol. 1 & 2 Elsevier, Amsterdam.
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Coale A.J. and E.M. Hoover (1958), Population Growth and Economic Development
in Low Income Countries: A Case Studv cf India's Prospects, Princeton University
Press, Princeton.
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Gulati, S.C. (1988), Fertility in India: An Econometric Study of a Metropolis, Sage,
New Delhi.
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Baumol, W.J. and W.E. Oates (1988), The Theory of Environmental Policy, (2nd
Edition), Cambridge University Press, Cambridge.
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Berman, P. (Ed.) (1995), Health Sector Reform in Developing Countries : Making
Health Development Sustainable, Boston: Harvard Series on Population and
International Health.
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Bromely, D.W. (Ed.) (1995), Handbook of Environmental Economics, Blackwell,
London.
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Fisher, A.C. (1981), Resource and Environmental Economics, Cambridge University
Press, Cambridge.
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Hanley, N., J.F. Shogern and B. White (1997), Environmental Economics in Theory
and Practice, Macmillan.
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Sinha U.P (2007), Economics of social sector and development,Concept Publishing
company, New Delhi.
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Sankar, U. (Ed.) (2001), Environmental Economics, Oxford University Press, New Delhi.
Supplementary Readings
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Divan Shyam and Armin Rosencranz (2008), Environmental Law and Policy in India,
Cases, Materials and Statutes, Oxford University Press, New York.
Ganesamurthy, V.S. (2009), Environmental Economics in India, New Century
Publications, New Delhi, India.
Government Policies.
SEMESTER- II
ECN 201
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Monetary Theory
ECN 202
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Indian Economic Policy
ECN 203
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Theory of Statistics
ECN 204
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Planning & Development
ECN 205
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Banking & Financial Institutions
ECN 206
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Economics of Gender & Development
SEMESTER – II
PAPER 201
MONETARY THEORY
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Supply of Money
Approaches towards determination of money supply- RBI approach to money
supply, Determinants of Money supply; High Powered Money and Money
Multiplier, Control of Money Supply-Policy Rate and Reserve Ratio.
Module- II Demand for Money
Classical Approach to Demand for Money- Quantity Theory Approach, Keynes
Liquidity Preference Approach; Aggregate demand for money, Derivation of
LM Curve.
Module- III Post-Keynesian Demand for Money
Post- Keynesian approaches to demand for money-Friedman and the modern
quantity theory; Patinkin and the Real Balance Effect, Approaches of Baumol;
Friedman and the modern quantity theory.
Module- IV Theory of Inflation
Classical Keynesian and Monetarist approaches to Inflation; Structuralist
theory of Equation, Phillips curve analysis- Short run and long run; The Natural
rate of Unemployment Hypothesis; Tobin’s modified Philips Curve. Inflation
and Indian Economy; RBI’s Policies to control Inflation.
Basic Text
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Aschheim, Joseph and Ching- Yao (1969), Macro Economics: Income and Monetary
Theory, Charles E. Merril Publishing Co., Columbus, Ohio.
Campbell Colin D. And Rosemary Campbell (1981), An Introduction to Money and
Banking, CBS College Publishing. Gupta, Suraj B. (2003), Monetary Planning For India,
Oxford University Press, New Delhi.
Gupta, Suraj B. (2003), Monetary Planning For India, Oxford University Press, New
Delhi.
Harris, Monetary Theory, McGraw Hill Publications.
Luckett, Dudley G. And John M. Culbertson (1981), Money and Banking, McGraw Hill.
Supplementary Readings
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Friedman, Milton, Optimum Quantity Theory of Money, MacMillan and Co. Ltd.
Hansen, Alvin H., (1949), Monetary Theory and Fiscal Policy, McGraw Hill Co. Ltd.
Hicks, John (1975), Value and Capital, An Inquiry into Some Fundamental Principles
of Economic Theory, Oxford University Press.
Khatkhate, Deena (1998) (Ed.), Money and Finance, Issues Institutions Policies,
Orient Longman.
Rangarajan, C. (2000), Indian Economy, Essay on Money and Finance, UBS Publishers.
Schumpeter, Joseph A. Vol II (1939), Business Cycles, A Theoretical, Historical and
Statistical Analysis of the Capitalist Process, McGraw Hill Book Company.
SEMESTER- II
PAPER- 202
INDIAN ECONOMIC POLICY
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Economic Development and Planning in India
Concept of economic growth, economic development and sustainable
development; Role of State, Market and other institutions; human resource
Development importance and indicators (PQLI, Human Development Indiex,
Gender Development Index).
Module- II Indian Agriculture
Nature and role of agriculture; Policies for agricultural and rural development;
Technological change in agriculture- Price policy; Agricultural finance;
Agricultural Marketing and Warehousing; Issues in food security.
Module- III Industry
Industrialization and economic development; Industrial Policy ; Public sector
enterprises and their performance; Problem of sick units in India; Small-scale
and cottage industries.
Module- IV External Sector
India’s Foreign Trade- New Trade Policy (EXIM Policy); Globalization and its
impact on Indian Economy; Multinational Corporations, FERA & FEMA.
Basic Text
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Ahluwalia, Isher Judge and I.M.D. Little (Ed.) (2004), India’s Economic Reforms and
Development, Oxford University Press.
Datt, Ruddar and K.P.M. Sundaram (2007), Indian Economy, S. Chand.
Dhawan, S.K. (2006), Handbook of Indian Economy, Vol 2, Maxford Books, New
Delhi.
Jalan, Bimal (Ed.) (1993), The Indian Economy, Problems and Prospects, Pengium
Books.
Kapila, Uma (2007), Indian Economy, Performance and Policies, Academic
Foundation, New Delhi.
Kapila, Uma (Ed.) (2007), India’s Economic Development since 1949, Academic
Foundation, New Delhi.
Mishra S.K. and V.K. Puri (2004), Indian Economy, Himalaya Publishing
SEMESTER- II
PAPER- 203
THEORY OF STATISTICS
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Statistical Method- I
Simple correlation And Regression Analysis; Karl Pearson’s and Product
Moment Method; Standard Error Estimates and Probable Errors estimates;
Partial and Multiple correlation; Estimation of line of Regression. Time series
analysis; Estimation of trend value by least square method.
Module- II Statistical Methods- II
Classical and empirical definition of Probability; Theorem of Probability
(Addition Theorem) and (Multiplication theorem),Bayes and Conditional
Probability theorem; Binomial and Normal Distribution.
Module- III Sampling Theory and Hypothesis Testing
Basic Concept; Objects of sampling; Types; Limitation and Errors in sampling;
Hypothesis testing; Significance of tests in Small sample, T-test, Z-test and Chisquare test x2 test for goodness of fit.
Module- IV Basic Econometrics
Nature, meaning scope and importance of Econometrics; Relation with Statistic
& Economics; Simple Linear Regression Model- OLS method, Estimation of
Parameters and Properties of least square estimators.
BASIC READING LIST
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Spiegel, M.R. (1992), Theory and problems of Statistics, McGrow Hill Co. Ltd., New
York.
Taha, H.A. (1997), Operations Research: An Introduction (6th Edn.), Prentice Hall of
India (P) Ltd., New Delhi.
Chou, Y. (1975), Statistical Analysis, Holt, Reinharet and Winston, New York.
Croxtion, Crowden and Klein (1971), Applied General Statistics, Prentice Hall of India,
New Delhi
Millar, J. (1996), Statistics for Advanced Level, Cambridge University Press,
Cambridge.
Nagar, A.L. and R.K. Das (1993) Basic Statistics, Oxford University Press, New Delhi.
Koutsoyiannis: Theory of Econometrics
Goldberger: Introduction of Econometrics
GS Maddala: Introduction to Econometrics.
SEMESTER- II
PAPER 204
THEORY OF GROWTH AND DEVELOPMENT
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Theories of Development
Classical theory of development- Contribution of Adam Smith and Ricardo;The
Marxian Theory; Schumpeter and Capitalistic development; Innovation; Role of
credit; Profit and degeneration of capitalism.
Module- II Economic Growth- I
Economic Growth and development; measurement of growth, Neo-classical
growth models- Solow and Meade; Mrs. Joan Robinson’s growth model;
Mahalanobis model of growth.
Module- III Economic Growth- II
Technological progress-embodied and disembodied; Production function
approach to economic growth; Growth models of Hicks and Kaldor; intellectual
capital.
Module- IV Social and Institutional Aspects of Development
Poverty- Absolute and Relative; Causes and alleviation of poverty; Measuring
development and development gap per capita income; Inequality of income
Quality of life- Food security; Education; health and nutrition. Human resource
development.
Basic Reading List
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Adelman, I. (1961), Theories of Economic growth and Development, Stanford
University Press, Stanford.
Behrman, S. and T.N. Srinivasan (1995) Hand book of Development Economics, Vol.
3, Elsevier, Amsterdam.
Brown M. (1966) On the Theory and Measurement of Technical change Cambridge
University Press, Cambridge Mass.
Chenery, H.B. et al. (Eds) (1974) Redistribution with Growth O.U.P., Oxford.
Chenery, H.B. and TN Srinivasan (Eds) (1989) Hand Book of Development Economics,
Vol. I and II Elsevier, Amsterdam.
Dasgupta P (1986) An Enquiry into well beihg and destitution, Clarendon Press,
Oxford.
Ghatak, S. (1986) An Introduction to Development Economics, George Alien &
Unwin, London.
Basic Test
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Agarwal, A.N., Indian Economy: Problems of Development and Planning, Wishwa
Prakashan
Dhingra, I.C., Indian Economy, S. Chand and Sons.
Higgins, B. (1959), Economic Development, W.W. Norton, New York.
Kapila, Uma (Ed.) (2002), Indian Economy since Independence, Academic
Foundations.
Luthra, V.P., Economic Development, Planning and Liberalisation.
Planning Commission, Government of India- Ninth Five Year Plan Vol. II: Thematic
Issues and Sectoral Programmes.
Mishra S.K. and V.K. Puri (2004), Indian Economy, Himalaya Publishing House.
Supplementary Readings
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Meier, G.M. (1995), Leading Issues in Economic Development, Oxford University
Press, New Delhi.
Sen, Raj Kumar and Chatterjee, Biswajit (Ed.) (2000), Indian Economy: Agenda for the
21st Century, Deep and Deep Publications.
Todaro, Michael P. And Stephen C. Smith (2003), Economic Development, Pearson
Education Ltd.
Thirlwall, A.P. (1999), (6th ed.), Growth and Development, MacMillan Press.
SEMESTER- II
PAPER- ECN 205
FINANCIAL INSTITUTIONS AND MARKETS
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module 1: The Central Bank, Commercial Banks and RRBS
Role and functions of Central Bank — The aims and objectives of the monetary policy in
India, Credit creation and its control; role and functions of Commercial Banks and Regional
Rural Bank.
Module 2: Financial sector reforms & NBFIS
Financial sector reforms in India; Definition and types of non-bank financial institutions:
Their growth and impact on India’s economic development, Measures taken to control their
operations.
Module 3: Financial Markets
Role and structure of money market and capital market — Call money market. Treasury bill
market, Commercial bill market, Discount market —Government securities market —
Markets for derivatives: types, SEBI and IRDA
Module 4: International Financial Markets
Exchange rates — devaluation, floating exchange rates Rise and fall of Brettonwood
Institutions; International monetary system –IMF, World Bank -IDA and IFC.
BASIC READING
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Bhole, L.M. (1999), Financial Institutions and Markets, Tata McGraw Hill Company
Ltd., New Delhi.
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Bhole, L.M. (2000), Indian Financial System, Chugh Publications, Allahabad.
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Edminster, R.O. (1986), Financial Institutions, Markets and Management, McGraw
Hill, New York.
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Goldsmith, R.W. (1969), Financial Structure and Development, Yale, London.
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Hanson, J.A. and S. Kathuria (Eds.) (1999), India : A Financial Sector for the T
wenty-first Century, Oxford University Press, New Delhi.
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Harker, P.T. and S.A. Zenios (2000) (Ed.), Performance of Financial Institutions,
Cambridge University Press, Cambridge.
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Johnson, H.J. (1993), Financial Institutions and Markets, McGraw Hill, New York.
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Khan, M.Y. (1996), Indian Financial System, Tata McGraw Hill, New Delhi.
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Machiraju, M.R. (1999), Indian Financial Systems, Vikas Publishing House, New Delhi.
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Ohlson, J.A. (1987), The Theory of Financial Markets and Institution, North Holland,
Amsterdam.
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Prasad, K.N. (2001), Development of India’s Financial System, Sarup & Sons, New
Delhi.
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Robinson, R.I. and D. Wrightman (1981), Financial Markets, McGraw Hill, London.
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Smith, P.F. (1978), Money and Financial Intermediation : The Theory and Structure of
Financial System, Prentice Hall, Englewood-Cliffs, New Jersey.
SEMESTER- II
PAPER- ECN 206
ECONOMICS OF GENDER AND DEVELOPMENT
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module 1: Demographic Aspects
Demography of female population: Age structure, mortality rates, and sex ratio
— Causes of declining sex ratios and fertility rates in LDCs and particularly
India; Women and their access to nutrition, health, education.
Module 2: Women and Economy
Economic status of women and its effect on work-participation, income level,
health, and education in India. Impact of technological development on
women’s work participation in agriculture and non-agriculture rural activities,
small and cottage industries.
Module 3: Women and Labour Markets
Factors affecting female entry in labour market- particularly India; female work
participation in agriculture, non-agricultural rural activities, cottage and smallscale industries, and services sector, Problems of female labour.
Module 4: Social Security and Social Protection for Women
Social security of women: entitlements, ensuring economic independence,Self
help groups in providing social security; Schemes for safety net for women;
Democratic decentralization (panchayats) and women’s empowerment in
India.
BASIC READING LIST

Boserup E. (1970), Women’s Role in Economic Development, George Allen and
Unwin,London.
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Desai, N. and M.K. Raj. (Eds.) (1979), Women and Society in India, Research Centre
for Women Studies, SNDT University, Bombay.
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Government of India (1974), Towards Equality — Report of the Committee on the
Status of Women in India, Department of Social Welfare, Ministry of Education and
Social Welfare, New Delhi.
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Krishnaraj, M., R.M. Sudarshan and A. Shariff (1999), Gender , Population and
Development,
Oxford University Press, New Delhi.
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Seth, M. (2000), W omen and Development : The Indian Experience, Sage
Publications, New
Delhi.
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Srinivasan K. and A. Shroff (1998), India: Towards Population and Development
Goals, Oxford University Press, New Delhi.
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Venkateswaran, S. (1995), Environment, Development and the Gender Gap, Sage
Publications, New Delhi.
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Wazir, R. (2000), The Gender Gap in Basic Education: NGOs as Change Agents, Sage
Publications, New Delhi.
SEMESTER- III
ECN 301
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Production, Distribution & Welfare
ECN 302
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Public Economics
ECN 303
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Theory of Growth and Development
ECN 304
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International Economics
ECN 305
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Linear Economic Model (QT-II)
ECN 306
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Project And Research Methodology in Economics
SEMESTER- III
PAPER 301
PRODUCTION, DISTRIBUTION AND WELFARE
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Production
Production function; Isoquant- Least cost combination of inputs;Law of
Variable Proportions and Returns to scale; Elasticity of substitution; Technical
progress and production function; Cobb- Douglas production function and its
properties; Theories of cost.
Module- II Distribution
Marginal productivity theory under different Market condition and Modern
theory of distribution; Product exhaustion theorem; Macro theories of
distribution- Ricardian, and Marxian.
Module- III Market Equilibrium
Partial and general equilibrium, Walrasian excess demand and input-output
approaches to general equilibrium,Existence , stability and uniqueness of
equilibrium, Relationship between relative commodity and factor prices
(Stopler- Samuelson theorem).
Module- IV Welfare Economics
Pigou’s Welfare Economics; Pareto optimality- Optimum exchange conditions;
The production optimum; The consumption optimum; Concept of contract
curve; Compensation criteria- Contributions of Kaldor, Hicks and Scitovsky
double criterion, Arrow’s possibility theorem.
Basic Text
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Baumol, W.J. (1984), Economic Theory and Operations Analysis, Prentice Hall,
Englewood Cliffs, New Jersey.
Graff, J.De. V. (1957), Theoretical Welfare Economics, Cambridge University Press,
Cambridge.
Henderson, J.M. and R.E. Quandt (1980), Micro Economic Theory: A Mathematical
Approach, McGraw Hill, New Delhi.
Koutsoyiannis, A. (1979), Modern Micro Economics, McMillan Press Ltd, London.
Little, I.M.D. (2973), A Critique of Welfare Economics, Oxford University Press, New
York.
Supplementary Readings







Hansen, An Introduction to Welfare Economics.
Mishan, E.J. (1969), Welfare Economics: An Assessment, North Holland, Amsterdam.
Pigou, A.C. (1952), Economics of Welfare.
Rothenberg, Measurement of Social Welfare.
Samuelson, Paul Anthony (1945), Foundations of Economic Analysis, Harvard
University Press.
Sinha, Udai Prakash, Economics of Social Sector and Environment.
Todaro, M.P. and Stephen C. Smith (2009), Economic Development, Pearson
Education.
SEMESTER- III
PAPER- ECN 302
PUBLIC ECONOMICS
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Public Expenditure
Wagner’s law of increasing state activities; Wiseman Peacock hypothesis,
Effect of public expenditure; Performance and programme budgeting and Zero
based budgeting; Fiscal policy and its objectives.
Module- II Taxation
Theory of Maximum Social Advantage, Ability to pay approaches; Indices of
Ability to pay; Incidence of taxation- Impact, Incidence and Shifting of a tax,
Backward and forward shifting; Taxable Capacity.
Module- III Public Debt
Objectives of Public Debt; Effects of public debt upon the economy; Burden of
internal and external public debt; Repayment of public debt.
Module- IV Indian Tax System
Analysis of Indian Tax System; Sources of revenue of Union; State and Local
bodies (Tax and Non-Tax); Major Taxes in India-income tax, sales tax, VAT, The
Role of Finance Commission- Center State financial relationship; 13th Finance
Commission.
Basic Text





Hockley, G.C., Public Finance, Routledge and Kegon Paul.
Musgrave, R.A., The Theory of Public Finance, McGraw Hill.
Radhakrishnan, N., Public Finance, Vrinda Publications.
Sundaram, K.P.M. and K.K. Andley, Public Finance, S. Chand and Company.
Dalton, Mugh (1980), Principles of Public Finance, Allied Publishers Pvt. Ltd.
Supplementary Readings





Goode, R., Government Finance in Developing Countries, McGraw Hill, New Delhi.
Jha, Raghbendra, Modern Theory of Public Finance, Wiley Eastern and V.S. Johri.
Musgrave, R.A. and P.B. Musgrave, Public Finance in Theory and Practice, McGraw
Hill.
Musgrave, R.A. and C.S. Shop, Readings in the Economics of Taxation.
Ziemba W.T. and R.G. Vickson, Stochastic Optimization models in Finance.
SEMESTER- III
PAPER- ECN 303
APPROACHES OF DEVELOPMENT
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Partial theories of Growth and Development
Vicious circle of poverty; Circular Causation; Unlimited supply of labour; Big
push Theory; Balanced and unbalance growth, Critical minimum-effort thesis;
Reni’s and Fei model.
Module- III Sectoral Aspect of Development
New technology and sustainable growth, globalization and agricultural growth,
The choice of Techniques and appropriate technology and employment;
Infrastructure and its importance.
Module- III External Sector
Macroeconomic policies and development; Role of monetary and fiscal policy
in Developing Countries; External resource FDI, Aid vs trade; International
trade as engine of growth, dual gap analysis.
Module- IV Planning and Development
Meaning needs and objective of planning; Types of planning; Indian Plan
models; Need for investment Criteria in developing countries; Cost benefit
analysis Shadow prices.
Basic Text


















Adelmen, I. (1961). Theories of Economic growth and Development, Stanford
University Press, Stanford.
Behrman, S. and T.N. Srunivasan (1995), hand Book of development Economics, Vol.
3, Elsevier, Amsterdam.
Brwon, M. (1966), On the theory and measurement of technical change, Cambridge
University Press, Cambridge Mass.
Chenery, H.B. et al. (Eds.) (1974) Redistribution with Growth O.U.P. Oxford.
Chenery, H.B. and T.N. Srinivasan (Eds.) (1989), Hand Book of Development. It
Economics, Vol. 1 and 2. Elsevier, Amsterdam.
Dasgupta, P. (1993), Anenquiry into well beihg and destitution, Clarendon Press,
Oxford.
Ghatak, S. (1986), An introduction to Development Economics, George All & Unwin,
London.
Gills, M., D.H. Perkins and O.K. Snodgrass and M. Tomer (1992). Economics of
Development (3rd Edn), W.W. Norton, New York.
Gimmell, N. (1987), Surveys in Development Economics Blackwell, Oxford.
Higgins, B. (1959) Economics Development, W.W. Norton, New York.
Hogendorn, J. (1966), Economic Development, Addison Wesley, New York.
Kahkonson, S. and M. Olson (2000), A new Institutional Approach to Economic
Development, Vistaar.
Kindleberger, C.P. (1977), Economic Development (3rd Edn), McGraw Hill, New York.
Meier, G.M. (1995), Leading Issues in Economic Development, Oxford University
Press, New Delhi.
Myint, Hla (1965), The Economics of under- Development Countries, Oraeger, New
York.
Myint, Hla (1971), Economic Theory and Under-developed Countries, O.U.P., New
York.
Todaro, M.P. (1966) (6th Edn), Economic Development, Longman, London.
Thirwall, A.P. (1999), (6th Edn), Growth and Development Macmillan Press, U.K.
SEMESTER- III
PAPER 304
INTERNATIONAL ECONOMICS
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Theory of International Trade
The theory of International trade- theories of comparative cost advantage and
opportunity costs. Heckscher- Ohlin theory of trade, Leontief Paradox. Foreign
Trade Multiplier.
Module- II Theory of Interventions
Economic effects of tariffs and quotas on national income, output,
employment, terms of trade and income distribution, Nominal, effective and
optimum rates of tariffs- their measurement and impact.
Module- III Monetary aspects of International Trade
Meaning and Components of Balance of Payments; Equilibrium and
disequilibrium of Balance of Payments; Factors causing disequilibrium in
balance of payments and its correction; Demand and supply theory of
exchange rate determination, Balance of Payment on current and capital
account.
Module- IV The Theory of Regional Blocks
Forms of economic cooperation; Static and dynamic effects of a custom union;
Rationale and economic progress of SAARC regions; Reforms of the
International monetary system; Functions of WTO, IMF, World Bank and Asian
Development bank- their achievements and failures.
Basic Reading List









Bhagwati, J.N. (ed), International Trade : Selected Readings. Cambridge University
Press, Cambridge.
Carbough, R.J. (1999), International Economics, International Thomson Publishing,
New York.
Chacholiades, M. (1990), International Trade Theory and Policy, McGraw Hill,
Kohakusha, Tokyo, Japan.
Dana, M/s (2000), International Economics : Study, Guide and Workbook (5th Ed)
Routledge Pub. London.
Dunn, R.M. and J.H. Mutto (2000), International Economics, Routledge, London.
Kenen, P.B. (1994), International Economy; Cambridge University Press, London.
King, P.O. (1995), International Economics and International Economic Policy : A
Reader McGraw Hill International, Singapore.
Salvatore, D. (1997), International Economics, Prentice Gall, Upper Saddle River, N.J.
New York.
Soderston, Bo (1991), International Economics, Macmillan Press, London.
SEMESTER- III
PAPER- ECN 305
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Algebra Matrix
Matrices: Concept, their types, simple operations on matrices, matrix inversion
solution of equations by matrix method, Eigen Roots, Concept of quadratic
forms.
Module- II Input Output Analysis
Introduction to Input-output analysis, Features, Assumptions, open and closed
models, Solution under three industries, Simon –Hawkins condition
Module- III Linear Programming
Linear programming-basic concepts; formulation of Linear programming- its
structure and variables; Solution of linear programming by Graphical Method.
Module- IV Theory of Games
Elementary theory of Games, concepts of games; Two person-zero-sum game
solution of games by pure and mixed strategy, Saddle Point Sloution.
Basic Text




Baumol, W.J. (1984), Economic Theory and Operations Analysis, Prentice Hall,
Englewood Cliffs, New Jersey.
Chiang, A.C. (2nd ed.) Fundamental methods of Mathematical Economics, McGraw
Hill, New York.
Hadley, G. (1962), Linear Programming, Addison- Wesley Publishing Co.,
Massachusetts.
Koutsoyiannis, A. (1979), Modern Micro Economics, McMillan University Press,
Princeton.
Basic Text




Allen, R.G.D. (1976), Mathematical Economics, McMillan, London.
Arrow, K.J. and M. Intrilligator, (Eds) (1982), Handbook of Mathematical Economics,
Vol. 1 2 and 3, North Holland, Amsterdam.
Hadley, G. (1962), Linear Programming, Addison- Wesley Publishing Co.,
Massachusetts.
Intrilligator, M.D. (1971), Mathematical Optimization and Economic Theory, Prentice
Hall, Englewood Cliffs, New Jersey.
SEMESTER- III
PAPER- 306
RESEARCH & PROJECT WORK
PART- I RESEARCH & PROJECT
Module- I
-
30 Marks
Project + Project Proposal
 Formulation of the Project Proposal
 Execution of the Project
 Specification of Data Requirement
 Sources of Secondary Data
 Data Collection Methods
 Data Analysis
 Writing the Project Report
 List of References
 Project Evaluation
(a) Central tendency (Mean, Median, Mode), Dispersion, Correlation [simple
and multiple].
Part- II
Project work
- 70 Marks
Students will have to do a project work. The project work will be of 70 marks.
At the end of the semester the candidate will have to present his dissertation.
SEMESTER- IV
There are four special Groups and students have to opt two groups from the
following.
(i)
(ii)
(iii)
(iv)
Group- A
Group- B
Group- C
Group- D
Group- A
Adv. Mathematical Economics
Econometrics
Agriculture Economics
Labour Economics
Advance Mathematical Economics
401 Mathematical Micro Economics
402 Mathematical Macro Economics
403 Growth Model and Fluctuations
Group- B
Econometrics
I
Single Equation Model
II
Simultaneous Equation Model
III
Time Series and Multivariate Analysis
Group- C
Agricultural Economics
401
Theories of Agriculture Economics
402
Economics of Rural Development
403
Indian Agriculture: Problems & Policy Agricultural Development in
India
Group- D
Labour Economics
I
Economics of Labour
II
Industrial Economics
III
Industrial Relation & Industrial Growth in India
SEMESTER- IV
GROUP- A
MATHEMATICAL MICRO ECONOMICS - ECN 401
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I Theory of Consumer’s Behaviour:
Cardinal and Ordinal Utility analysis; Slutsky equation; Normal demand
functions; Income substitution and Price effects; Constrained and
unconstrained maximization of utility function, Concept of elasticities,
Consumer’s surplus.
Module- II Theory of Production:
Homogeneous Production function; Properties of Cobb-Douglas Production
function; Cost function; Mathematical relationship of Average cost and
marginal cost.
Module- III Producer’s equilibrium:
Constrained optimization of a producer; Expansion path and ridge lines;
Adding- up theorem; Production possibility curve.
Module- IV Price determination in various markets:
Price determination in Perfect competition; Monopoly, Impact of taxation and
subsidy on prices, Price discrimination; Duopoly.
Basic Text



Allen, R.G.D. (1976), Mathematical Economics, McMillan, London.
Henderson, J.M. and R.E. Quandt (1980), Micro Economic Theory: A Mathematical
Approach, McGraw Hill, New Delhi.
Seilbourg, Eugene, The Structure of Economics, A Mathematical Analysis.
Supplementary Readings




Chung, J.W. (1993), Utility and Production: Theory and Applications, Basil Blackwell,
London.
Ferguson, C.E. (1976), Neo Classical Theory of Production and Distribution.
Hoy, Michael, John Livernois, Chris McKenna, Ray Rees, Thanasis Stengos,
Mathematics for Economists.
Intrilligator, M.D. (1971), Mathematical Optimization and Economic Theory, Prentice
Hall, Englewood Cliffs, New Jersey.
SEMESTER- IV
PAPER- IV - ECN 402
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I Keynes and Classics
Classical and Keynes macro system; Keynesian Liquidity preference and
modern theory of Interest; Static and Dynamic multiplier; Investment function;
Accelerator.
Module- II Theory of Fluctutions
First and Second order difference equation, First order differential equation
with economic application; Trade cycle models of Samuelson-Hicks and
Goodwin; Harrod Domar Growth model.
Module- III Operations Research
Concept of game theory, Pure and Mixed Strategy, Minimax Theorem. Solution
of games under Pure and Mixed Strategy, Saddle Point Solution, Graphcial
solution of games – 2×2 and 2×n.
Module- IV Matrix operation
Symmetric and skew systematric; Orthogonal matrix, Characteristic roots and
vectors, Idempotent Matrix; Quadratic forms. Input-output Analysis- Open and
closed Models, Solution under three industries; Simon-Hawkin conditions.
Basic Text





Allen, R.G.D. (1967), Mathematical Economics, McMillan, London.
Arrow, K.J. and M. Intrilligator, (Eds) (1982), Handbook of Mathematical Economics,
Vol. 1 2 and 3, North Holland, Amsterdam.
Hadley, G. (1962), Linear Programming, Addison- Wesley Publishing Co.,
Massachusetts.
Henderson, J.M. and R.E. Quandt (1980), Micro Economic Theory : Mathematical
Approach, McGraw Hill, New Delhi.
Intrilligator, M.D. (1971), Mathematical Optimization and Economic Theory, Prentice
Hall, Englewood Cliffs, New Jersey.
SEMESTER- IV
PAPER- ECON- ECN 403
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I Operation Research II
Linear Programming: Primal and dual, Steps in construction of a dual, duality
theorems, solution of linear programming by simplex method.
Module- II Market Equlibrium
Single Market equilibrium, Marshallian and Walrasian equilibrium and stability
of equilibrium.
Module- III Cobweb Model:
Cobweb Model, (Supply Lag and Demand Lag), Simple continuous Cobweb
model, Models with stocks.
Module- IV General Economic Equilibrium:
Indefinite and definite Intragals, Equilibrium of exchange; Applications of
Intergration.
Basic Text



Allen, R.G.D. (1976), Mathematical Economics, McMillan, London.
Henderson, J.M. and R.E. Quandt (1980), Micro Economic Theory: A Mathematical
Approach, McGraw Hill, New Delhi.
Seilbourg, Eugene, The Structure of Economics, A Mathematical Analysis.
Supplementary Readings




Chung, J.W. (1993), Utility and Production: Theory and Applications, Basil Blackwell,
London.
Ferguson, C.E. (1976), Neo Classical Theory of Production and Distribution.
Hoy, Michael, John Livernois, Chris McKenna, Ray Rees, Thanasis Stengos,
Mathematics for Economists.
Intrilligator, M.D. (1971), Mathematical Optimization and Economic Theory, Prentice
Hall, Englewood Cliffs, New Jersey.
SEMESTER- IV
GROUP- B
ECONOMETRICS – ECN 404
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Basic Econometrics:
Meaning, Nature, Importance and Scope of Econometrics, Simple and general
regression model; Assumptions and properties of OLS estimators; Gauss
Markov Theorem, Concept and derivation of R2, Transformation of non linear
into linear ones – Logarithmic, Reciprocal and Logarithmic reciprocal.
Module- II Assumption of disturbance variable U:
Assumption of disturbance variable U- The assumption of randomness of U;
The assumption of zero mean of U; The assumption of homoscedasticity; The
assumption of normality of U, Errors in Measurement.
Module III Autocorrelation:
Meaning and Sources, Consequences of autocorrelation, First order
Autoregressive Scheme, mean variance and co-variance of the auto correlated
U’S, Test of Auto correlation – Durbin Watson Test and Graphical method.
Module- IV Heteroscedasticity and Multicollinearity:
Multicollinearity- Meaning, reasons, nature and how economic models are
affected in the presence of multicollinearity, Heteroscedesticity and
Homoskedesticity – Meaning and nature, transformation of Hetero into
Homoskedesticity.
Basic Text





Amemiya, T. (1985), Advanced Economectrics, Harvard University Press, Cambridge,
Mass.
Baltagi, B.H. (1998), Econometrics, Springer, New York.
Kmenta, J. (1997), Elements of Econometrics (Reprint edition), University of
Michidan Press, New York Johnston, J. (1991), Econometrics Methods, McGraw Hill
Book Co., London.
Maddala, G.S. (Ed.) (1993), Econometrics Application in India, Oxford University
Press, New Delhi.
Theil, H. (1981), Introduction to Econometrics, Prentice Hall of India, New Delhi.
SEMESTER- IV
GROUP- B ECN 405
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Simultaneous Equation Models- I
The simultaneous equation bias and inconsistency of OLS estimators;
Structural and Reduced form models; The identification problems- Rules of
identification; order and rank condition.
Module- II Simultaneous Equation Modes- II
Methods of estimating simultaneous equation system; ILS and 2SLS.
Module- III Lagged Variables and Distributed Lag Models
Distributed lagged models, Exogenous Lagged variables, Endogenous Lagged
variables, Koyak Model.
Module- IV Dummy Variable Technique
Regression with mixture of Quantitative and Qualitative variable, Dummy
Variables, Piecewise linear regression, Nature and estimation of LPM, Logit,
Probit and Tobit.
Basic Text



Johnston, J. (1991), Econometrics Methods, McGraw Hill Book Co., London.
Gujarati, D.N. (1995), Basic Econometrics (2nd Edition), McGraw Hill, New Delhi.
Koutsoyiannis, A. (1977), Theory of Econometrics (2nd Edition), The Macmillan Press
Ltd. London.
Supplementary Readings





Amemiya, T. (1985), Advanced Economectrics, Harvard University Press, Cambridge,
mass.
Baltagi, B.H. (1998), Econometrics, Springer, New York.
Kmenta, J. (1997), Elements of Econometrics (Reprint edition), University of
Michidan Press, New York Johnston, J. (1991), Econometrics Methods, McGraw Hill
Book Co., London.
Maddala, G.S. (Ed.) (1993), Econometrics Application in India, Oxford University
Press, New Delhi.
Theil, H. (1981), Introduction to Econometrics, Prentice Hall of India. New Delhi.
SEMESTER- IV
PAPER - ECN 406 GROUP- B
TIME SERIES AND MULTI VARIATE ANALYSIS
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module- I
Time Series Analysis
Nature, importance and components of time series, calculation of trend values
by least square method, Trend Stationary (TS), Random Walk Model.
Module- II Forecasting
Forecasting with ARIMA, Vector Auto Regression Model (VAR) , Estimation of
parameter of non- linear parabolic model of the method of least square.
Module- III Multivariate Analysis
Multivariate probability distribution, Marginal and conditional probability
distribution, Binomial and normal distribution and its properties, Discriminant
analysis.
Module- IV Model for Panel Data
Generalized Least Square, General Linear Model, Estimation of parameters of
logarithmic model by least square method.
Basic Text



Johnston, J. (1991), Econometrics Methods, McGraw Hill Book Co., London.
Gujarati, D.N. (1995), Basic Econometrics (2nd Edition), McGraw Hill, New Delhi.
Koutsoyiannis, A. (1977), Theory of Econometrics (2nd Edition), The Macmillan Press
Ltd., London.
Supplementary Readings





Amemiya, T. (1985), Advanced Economectrics, Harvard University Press, Cambridge,
Mass.
Baltagi, B.H. (1998), Econometrics, Springer, New York
Kmenta, J. (1997), Elements of Econometrics (Reprint edition), University of
Michidan Press, New York Johnston, J. (1991), Econometrics Methods, McGraw Hill
Book Co., London.
Maddala, G.S. (Ed.) (1993), Econometrics Application in India, Oxford University
Press, New Delhi.
Theil, H. (1981), Introduction to Econometrics, Prentice Hall of India, New Delhi.
SEMESTER– IV
GROUP– C
Agricultural Economics
PAPER– I ECN 401 Gr-C
THEORIES OF AGRICULTURAL ECONOMICS
Full Marks- 70
Time- 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module - I — Agriculture and Economic Development
Nature and scope of agricultural economics; Role of agriculture in economic
development; Traditional agriculture and its transformation; The Schultzian
Thesis; Interdependence between agriculture and industry.
Module - II — Agricultural Production and Productivity
Agricultural production — Resource use and efficiency; Production function
analysis in agriculture; Factor combination and resource substitution; cost and
supply curves; Size of farm and laws of returns. Resource use in traditional
agriculture.
Module - III — Agricultural Marketing
Marketing and state policy; Agricultural markets and marketing efficiency —
Market structure and imperfections; Regulated markets; marketed and
marketable surplus;
Module IV-Agricultural Pricing
Behaviour of agriculture prices — Cobweb model; Taxation and crop insurance;
Terms of trade between agricultural and non-agricultural prices; Need for state
intervention.
BASIC READING LIST

Bhaduri, A. (1984), The Economic Structure of Backward agriculture, Macmillan,
Delhi

Bilgrami, S.A.R. (1996), Agriculture Economics, Himalaya Publishing House, Delhi.

Dantwala, M.L. et al. (1991), Indian agricultural Development since Independence,
Oxford and IBH, New Delhi.

Deogharia, P.C. (2008) Rural Credit In India, Satyam Publication, New Delhi.

Government of India (1976), Report of to National Commission on agriculture, New
Delhi.

Government of India, Economic survey (Annual)

Gulati, A and T. Kelly (1999), Trade Liberalization and Indian agriculture, O.U.P. New
Delhi.

Joshi, P.C. (1975) Land Reforms in India : Trends and propects. Allied Publishers,
Bombay.

Kahlon, A.S. and D.S. Tyagi (1983), Agriculture price Policy in India, Allied Publishers,
Bombay.
SEMESTER- IV
PAPER – II
ECN 402 Gr-C
Full Marks : 70 …………………………………………………………………………Time 3 Hrs
INDIAN AGRICULTURE: PROBLEMS AND POLICIES
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module - I — Agricultural Growth in India
Recent trends in agricultural growth in India; role of subsidies- Irrigation,
power, seed and fertilizers; Role of Public investment in Indian Agriculture;
Sustainable agriculture .
Module - II — Green Revolution and Indian Agriculture
Green Revolution in India : Strategy for development of Indian Agriculture — A
Survey, The Green revolution, Factors responsible for Green revolution;
Economic benefits of Green Revolution; problems created by Green revolution;
need for second green revolution.
Module - III — Current Issues in Indian Agriculture
Objectives of Agriculture Price Policy- Food Security in India- Food Security Bill,
Problems and Prospects. Public Distribution System. Recent Budget- Provisions
for Agriculture sector.
Module - IV — Agriculture and External Sector
International trade in agriculture commodities; Commodity agreements —
Role of World Trade organization; Role of MNCs; Globalization of Indian
economy and problems and prospects of Indian agriculture.
BASIC READING LIST

Bhaduri, A.(1984) The Economic Structure of backward Agriculture, Macmillan, Delhi

Bilgrami, S.A.R. (1996), Agricultural Economics, Himalaya Publishing House, Delhi.

Dantwala, M.L. et. al (1991), Indian Agricultural Development Since Independence,
Oxford & IBH, New Delhi.

Deogharia P.C. (2008) Rural credit in India, Satyam Publication, New Delhi.

Government of India (1976), Report of the National Commission on Agriculture, New
Delhi.

Government of India, Economic Survey (Annual), New Delhi.

Gulati, A. and T. Kelly (1999), Trade Liberalisation and Indian Agriculture, Oxford
University Press, New Delhi.

Joshi, P.C. (1975) Land Reforms in India : Trends and prospects, Allied Publishers,
Bombay.

Kahlon, A.S. and Tyagi d.S. (1983), Agriculture price Policy in India, Allied Publishers,
New Delhi.

Rao, C.H. Hanumantha (1975), Agricultural Growth, Rural Poverty and Environmental
Degradation in India, Oxford University Press, New Delhi.

Reserve bank of India, Report on Currency and Finance (Annual), Mumbai.

Rudra, A. (1982), Indian Agricultural Economics : Myths and Reality, Allied Publishers,
New Delhi.

Saini, G.R. (1979), Farm Size, Resource Use Efficiency and Income Distribution, Allied
Publishers, New Delhi.
SEMESTER- IV
PAPER – III ECN 403 GROUP – C
Full Marks : 70 …………………………………………………………………………..Time 3 Hrs.
INDIAN AGRICULTURE AND RURAL DEVELOPMENT
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module 1: Diversification of Rural Economic Activities
Issues and problems in rural industrialization and development of agro-based
industries, White revolution; Fishery and poultry development;
Module 2: Economics of Rural Infrastructure
Use of land, water and energy; Rural transport, communication, banking,
extension services, problems of rural electrification; Rural social infrastructure,
— education and health.
Module 3: Rural Finance and agriculture
Need for Agricultural Finance, Sources of Agricultural Finance and their relative
importance, Co-operative credit societies, Commercial Banks and rural Credit,
RRB’s. Agricultural Marketing in India, Governmental measures to improve the
system of Agricultural Mrketing.
Module 4: Rural Labour Market
Rural labour supply- Characteristics and problems of Rural labour supply;
Migration of rural labour- Mobility of labour from agricultural to nonagricultural markets in India; Male-female wage differences and problems.
BASIC READING LIST








Government of India, Economic Survey (Annual), New Delhi.
Jodhar N. (Ed.) (1996). Challenges to Indian Banking, Macmillan, New Delhi.
Papola, T.S. (1982), Rural Industrialisation in India, Himalaya Publishing House,
Bombay.
Reserve Bank of India (1989), Report of the Agricultural Credit Review Committee,
Bombay.
Raghvan and L. Sarkar (Eds.) (1996), Poverty and Employment, New Age, New Delhi.
Soni, R.N. (1995), Leading Issues in Agricultural Economics, Arihant Press, Jalandhar.
Visaria, P. and R. Basant (1994), Non-Agricultural Employment in India : Trends and
Prospects, Sage Publications, New Delhi.
Wanmali S. and C. Ramasamy (Eds.) (1995), Developing Rural Infrastructure,
Macmillan, New Delhi.
SEMESTER- IV
Group – D ECN 404 Gr-D
Economics of Industry and Labour
Paper – I
Full Marks : 70 …………………………………………………………………………..Time 3 Hrs.
Industrial Economics
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module - I
—
Concept of firm
Concept and organization of a firm, Classification of firm on the basis ofOwnership structure (Public, Private, Joint and Cooperative Sectors);
Objectives of firms, behavioral theory of firm.
Module - II— Location of Industries
Location of Industries — Weber, Sargent Florence, Factors Influencing,
Location of Industries. Industrial Sickness — Symptoms, Causes and Remedial
Measures.
Module - II
—
Industrial Productivity
Productivity — Measurement, Factors affecting Productivity, Importance
of Productivity in the Competitive Environment, National Production
Movement in India.
Module - IV —
Industrial Finance
Owned, external and other components of funds, Major funding
agencies IDBI IFCI, SFCs, SIDBI and Commercial banks, Role of FDIs in Industrial
development.
BASIC READING LIST :

Ahluwalia, I.J. (1985), Industrial Growth in India, Oxford University Press, New Delhi.

Barthwal, R.R. (1985), Industrial Economics, Wiley Eastern Ltd., New Delhi.

Cherunilam, F. (1994), Industrial Economics : Indian Perspective (3 rd Edition)
Himalaya Publishing House, Mumbai.

Desai, B. (1999), Industrial Economy in India (3rd Edition), Himalaya Publishing House,
Mumbai.

Divine, P.J. and R.M. Jones et. Al. (1976) An Introduction to Industrial Economics,
George Allen and Unwin Ltd., London.

Government of India, Economics Survey (Annual)

Hay, D. and D.J. Morris (1979) Industrial Economics : Theory and Evidence, Oxford
University Press, New Delhi.

Kuchhal, S.S. (1980), Industrial Economy of India (5th Edition), Chaitanya Publishing
House, Allahabad.

Reserve Bank of India, Report on Currency and Finance (annual).

Singh, A. and A.N. Sadhu (1988), Industrial Economics Himalaya Publishing House,
Bombay.
SEMESTER- IV
PAPER II ECN 405 Gr- D
LABOUR ECONOMICS
Full Marks - 70
Time - 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module - I — Labour Markets
Nature and characteristic of labour markets in developing countries;
Demand for Labour in relation to size and pattern of Investment, Supply of
Labour in relation to growth of labour force.
Module - II — Wage Determination
Classical, Neo-classical and bargaining theories of wage determination;
Concept of minimum wage, leaving wage and fair wage in theory and practice;
National wage policy; Bonus systems and profit sharing.
Module - III — Employment
Employment and development relationship — Poverty and unemployment in
India; Working conditions and hours of work; Methods of recruitment and
Placement.
Module - IV — State of labour
Static and social security of labour — Concepts of Social Security, Social
assistance and social insurance; Policies with special respect to social security
and labour welfare in India.
BASIC READING LIST :

Datt, G. (1996), Bargaining Power, Wages and Employment : An Analysis of
Agricultural Labour Markets in India, Sage Publications, New Delhi.

Hajela, P.d. (1998), Labour Restructuring in India : A Critique of the New Economic
Policies, Commonwealth Publishers, New Delhi.

Jhabvala, R and R.K. Subramanya (Eds) (2000). The Unorganized Sector : Work
Security And Social Protection, Sage Publication, New Delhi.

Lester, R.A. (1960), Economics of Labour (2nd Edition), Macmillan, New Delhi.

Papola T.S., P.S. Ghosh and A.N. Sharma (Eds) (1993), Labour Employment and
Industrial Relations in India, B.R. Publishing Corporation, New Delhi.

Rosenberg, M.R. (1988), Labour Markets in Low Income Countries in Chenery, H.B.
and T.N. Srinivasan (Eds), The handbook of Development Economics, North –
Holland, New York.

Venkata Ratnam, C.S. (2001), Globalization and Labor-Management Relations :
Dynamics of Change, Sage Publication/Response Books, New Delhi.
SEMESTER- IV
PAPER III ECN 406 Gr- D
INDUSTRIAL RELATION AND LABOUR MARKET
Full Marks : 70 …………………………………………………………………………..Time 3 Hrs.
[Students will have to answer four questions out of eight questions. At least
one question from each module will be set.]
Module - I — Industrial Relations
Concept of industrial relations- Nature, scope and importance; Theories
of Labour movement growth; Causes of industrial disputes and their
settlement and prevention.
Module - II — Labour Market Reforms
Labour market reforms in India - Second National Commission on labour, Exit
policy; Special Problems of labour- female and Child labour; need for safety
nets; Labour legislation in India.
Module – III - Collective Bargaining
Collective Bargaining- Nature and characteristics, process of collective
bargaining, Current trends in collective bargaining.
Module - IV —
Indian Industrial Growth and Pattern
Industrial Policy in India — Role of Public and Private Sector, Problems of
Small Scale & Cottage Industries in India, Role of MNC's in India, Recent trends
in Indian Industrial growth.
Basic Readings














Brahmananda, P.R. and V.R. Panchamukhi (Eds.) (1987), The Development Process of
the Indian Economy, Himalaya Publishing House, Bombay.
Breman, J. (1996), Footloose Labour: Working in India’s Informal Economy,
Cambridge University Press, Cambridge.
Chakravarty, S. (1987), Development Planning : The Indian Experience, Oxford
University Press, New Delhi.
Datta, B. (1992), Indian Planning at the Crossroads, Oxford University Press, New
Delhi.
Dhameeja, N. and K.S. Sastry (1998), Privatization : Theory and Practice, A.H.
Wheeler, New Delhi.
Jalan, B. (1996), India’s Economic Policy, Viking, New Delhi.
Joshi, V. and I.M.D. Little (1999), India : Macro Economics and Political Economy :
1964-1991, Oxford University Press, New Delhi.
Kelkar, V.L. and V.V. Bhanoji Rao (Eds.) (1996), India Development Policy
Imperatives, Tata McGraw Hill, New Delhi.
Mamoria and Mamoria (2000), Dynamics of Industrial Relations in India (15th
Edition), Himalaya Publishing House, Mumbai.
Memoria, C.B. (1966), Labour Problems and Social Welfare in India, Kitab Mahal,
Allahabad.
Punekar, S.D. (1978), Labour Welfare, Trade Unionism and Industrial Relations,
Himalaya Publishing House, Bombay.
Rama Murti, R. and R. Vernan (Eds.) (1991), Privatization and Control of State-owned
Enterprises, The World Bank, Washington.
Sach, J. (1990), ‘Social Conflict and Populist Policies in Latin America,’ in R. Brunnetta
and C.D. Aringa (Eds.) Labour Relations and Economic Performance, Macmillan,
Basing Stoke.
Singh V.B. (Ed.) (1970), Industrial Labour in India, Popular Prakashan, Bombay.