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File Ref,No.5334/cA _ tV _ BLj2OL2(CU \ UNIVERSITY OF CALTCUT osrres[er system._ sylla ilff.TtrHfl,J::,::'j:,T:]:ffi,CreditSemesterSystem-syllabusrevised _-llllvg.vllUllvVctIuS-approved.orderslssued s,r. U.o,No. Lz4ltzot3tctJ "''=* Dated, Calicut University.p.O, 30.0S.2013 Read:-L. U.O No. cALtJ2t36O1/08 (Vot ,) dated 19_06_2009 2. U.o. No. cAtvtBL/2ilgt2oogdated 26_10_2009 3' Minutes of the meeting of the Board of studies in Economics (UG) held on 2012(irem No 1) 4' :' 06_11_ Minutes of the meeting of the Faculty of Humanities herd on L2-tr-2012 (rtem No.r Minutes of the meeting of the Academic councir herd on 15-0L-20L3 vide item No., 6' orders of Vice chancellor in File No. GAIV/B Lrr'l,tzoL2dated Lo-04-201,3 ORDER Vide paper read first above' the Rules and Regurations governing the UG under c-h91c9 Bated^Gredit curricuram Semester system in the corege affiriated to this University Irnplemented with effect uas from 2009 admissron onuards. Vide PaPer read ' Development 2 above' orders \ Ere issued imprementing Economics Programme under ccss the syrabus of BA with effect from 200g admission. vde paper read 3 above'the meeting of the Board of Studies in Economics (UG) herd on 06-112012 vide item No L has resolved to approve the revised syilabus of B.A Deveropment Economics tobe implemented from 2013_14 admission. Vide paper read fourth above' the minutes of the meeting of the Board of Studies in Economics (t'JG) held on 06-11- 20L2(item No 1) has been approved by the Facurty of Humanities at its rneeting held on tZ_Lt_zOLZvide ttem No. t1. Vide paper read 5 above, the Academic council at its meeting held on 1-5-01-2013 r,r/rile considering the minutes of the meeting of the Faculty of Humanities vide item No. ll B has deferred the matter for detailed study. As per the orders of Registrar in File No. 4579/G Alv BLlzoL2lcU dated 03-04-2013 the minutes of the meeting of the Board of Studies in Economics (UG) held on 06-11- 2OL2(itemNo 1) uras put up in File No.GA|V/B1ltBLl2OLz. Vide paper read 6 above,the Vice chancellor after having considered the matter and in view of urgency, has approved the minutes of the meeting of the Board of studies in Economics (UG) held on 06-11- 2012(item No 1) exercising the powers of the Academic council subject to ratification by lhe Academic Council. Sanction has therefore been accorded to implement the revised syllabus of B.A Development Economics with effect from 2013-l_4 admission. Orders are issued accordingly. The syllabus is uploaded in the urebsite. s4l - Shanauraz T.p Assistant Registrar lc The Principals of all coileges offering BA Development Economics copy to:PAto cE/ Ex Section/ EG Section lExlvtDR,AR-BA Branch/ EA [/ System Administrator with a request to upload the Syllabus in the Uriiversitlr ra,ebsiie/ GA I F Section/ Library/ SF/ FC/DF v REVISED UNDERGBADUATE DEGREE CURRICULUM AND SYLLABUS IN DEVELOPMENT ECONOMICS (REGULAR) UNIVERSITY OF CALICUT EFFECTIVE FHOM 2013-14 ADMISSION Towards a Revision of Curriculum and Syllabus of Undergraduate ECONOMICS Programme of knowledge is evolving over time. This is the result of man's quest for knowing more about himself and his societal environment. Economics is no exception to this process of evolution. A number of developments in the form of new theories and applications have already taken place in economics during the past few decades with a view to understand the economy, its actors their behavior and the consequent outcomes oftheir actions. Every branch Generally, curriculum brings out the academic programme's educational philosophy, specific of a discipline and implementation strategies as well as assessment and evaluation criteria. Hbwever, Syllabus traditionally represents the content of a given Course and specifies how this content is graded and sequenced. Syllabus refers to content or subject objectives of learning and understanding matter of a given discipline whereas Curriculum refers to the totality of the content to be taught and aims to be realised with in a given academic course period. Thus Curriculum subsumes a Syllabus. Curriculum and Syllabus of Economics should therefore follow the above line of thinking. Regular updating of both Curriculum and Syllabus in Economics is unavoidable because the subject of Economics has a rapid groMh as compared to most of the other social sciences and also being a discipline that touches day-to-day human lives in every society. To quote UGC: "Renewing ond updoting the essential ingredient of ony vibront university ocodemic system. There ought to be the dynomic curriculum with necessary odditions ond chonges introduced in it from time to time by the respective university with o prime objective to mointoin updated curriculum ond olso providing therein inputs to toke care of fost poced development in the knowledge of the subiect concerned. Revising the curriculum should be a continuous process to provide an updoted educotion to the students ot lorge". oJ the curriculum is To put it in a broad sense, higher education especially in the field of social science must aim at: . . . train students to understand the society, economy and the world at large ETo equip them with the right analytical skills to acquire a 'vision' gTo enjoy life time learning. It is necessary to repeat that the goal of higher education is two fold: Knowledge Creation and its utilization through activities that are usefulto the learners as well as the society. ElTo Coming to the curriculum of Economics, our objective is to impart: . . . A knowledge of fundamental concepts and theoretical propositions A methodolo8y by which economic ideas are framed, tested and modified An understandinB of the institutions, social, political and economic. that influence Economic issues I . An ability to present one's own analysis of the problems and issues in the language of an 'Economist' Teaching of Economics lack relevance if they do not help in the understanding of the laws of motion of the economy and society where one lives. The idea is to make the student at the undergraduate level understand correctly the basic concepts and terms used in Economics and to give him an exposure to the way economic problems and issues are to be looked at with out any bias. For this, what is needed is a set of CORE courses and ELECTIVE courses. The core course may consist of two parts (a) Basic Concepts, terms and theories and (b)Application areas. The first will have Papers like MICROECONOMTCS, MACROECONOMTCS , MATHEMATICS FOR ECONOMICS, POLITICAL ECONOMY reference to INDIA and KERALA etc. o OF DEVELOPMENT with speciat The elective courses will have, FINANCIAL EcoNoMtcs, puBltc EcoNoMtcs, TNTERNATTONAL ECONOMI6, ENVIRONMENTAL ECONOMICS, HEALTH ECONOMICS, etc., to enable the students to get an exposure to the application of what he is going to learn in CORE courses. short courses. A few of them are to be framed to suit ECONOMICS students and others specially suited to non-Economics students. All elective courses should contain ELECTIVE Courses shall be substantial active learning component to give depth to the curriculum. This includes writing reports, oral presentations, and research projects. This will reinforce the empiricalskills students have acquired in the course on quantitative methods. Finally, we suggest that students do a final research project that would complete the process of intellectual maturation lt will also provide further insight in the curriculum. Suggested Courses: We are offering 14 Core courses, Four complementary courses and two open courses with three electives each. The course work/ project work / visit are to be handled by the Economics faculty in each college. Allthese are presented in Table 1. Table 1: Suggested Courses and Their Short Objectives Course Code Course Code Course Objgctives Semester Common Course Common Course Common Course Core Course I II III I I ECI AO1 ECI AO2 ECI AO3 Micro Economics Detailed syllabi and objectives are to be provided by the University Separately Teaches the fundamentals -1 ECl BOl I Complementary I DECI COI Agricultural Economics II Complementary II of Micro economics required for proper understanding of other courses. ECI I CO2 Fundamentals of Foreign Trade I 2- Semester CommonCourseIVre Common Course VI Common Course VI Core Course II I Complementary II II Complementary II Detailed syllabi and objectives are to be provided by the University Separately EC2 A05 EC2 A06 Macro Economics ECzBO2 I II Semester VII VIII III Core Course IV Core Course Teaches the fundamentals of Macro economics required for proper understanding of other courses. DEC2 CO3 Agricultural Economics II DEC2 CO4 Fundamentals of Foreign Trade Common Course Common Course II III EC3 AO7 EC3 AO8 I Complementary III II Complementary III DEC3 CO6 Common Course IX Common Course X Regional Economics I Semester IY EC4 AO9 EC4 A10 Quantitative Methods for Economic Analysis-II V Core Course VI Seperately 'I'eaches mathematical Quantitative Methods for Economic Analysis-I EC3-B03 Micro Economics II EC3-B04 DEC3 CO5 Core Course Detailed syllaby and objectives ore to b" provided by the University Develops the tools for further economic analysis. Population Studies I esiiiE Detailed syllab i and obi ecti provided by the University 'I'eaches Statistical tools required for tho study of undergraduate economics EC4 BO5 I Complementary IV II Complementary IV Core Course VII Core Course VIII Core Course IX Core Course X Open Course (For Non-Economic Students) tools required for the study of undergraduate economics 'Io develop the tools for further economic Macro Economics II EC4 806 DEC4 CO7 Population Studies II analysis. DEC4 CO8 Regional Economics II Semester V Development Economics DEC5 BO7 Mathematical Economics DEC5 BO8 Environmental Economics DEC5 BO9 Computer Application EC5 BIO Basic Principles of Economics EC5 DOl International Trade and Business EC5 DO2 Teaches the variouJtheoriEsif Development Economics Introduces the basic concepts of mathematical economics and its application in Economics Lntroduces the importance and concepts environmental economics of lntroduces the application of computer in Economics studies.. lntroduction to the fundamental principleJ of Economics. ntrod u ctio n to nie rnati o nel tradetheories and practices. I i lntroduces the theory and practice of Banking bankino ECs DO3 EC5 B15 (Pr.) Course / Project/Visit Core Course XI Semester Basic Econometrics DEC6 BlI Core Course XII Public Finance Application of what is taught. ( Group/Individual Activity starts) VI C6BI2 Core Course XIII Core Course XIV Indian Economy with Special Reference to Kerala Economy DEC6 B13 Financial Economics DEC6 B14 Gender Economics Elective Course (For Economic EC6 EOl Health Economics Students) EC6EOz Economics of Business and Finance EC6 EO3 EC6 Bl5 (Pr.) Project/Coursefy'isit Introduces basic economeuic'methods that will be applied in subsequent courses. Introduces the role of public / governmental activities expenditure in the Functioning of an economy. Introduces the features oflndian economy with added importance to Kerala economy. Introduces the basic theories and issues of financial economics lntoduces the fundamental principles of gender awareness Teaches the fundamental aspects of Health and its emerging issues. Introduces the students to the basics of business, managerial and financial Economics. Application of what is taught. ( Grouo Activitv completes) Complementary Courses 'l . Agricultural Economics Fundamentals of Foreign Trade Population Studies Regional Economics Essentials of Economics. 6. Co Operation 7. Banking 8. Mathematical tools for economics 2. 3. 4. 5. (Plus other complementary courses offered by sister departments) Suggested Contents : The contents of each course listed above cover most of the important ond the latest theoretical ond empirical developments in their respective fields. Suggested Reference : We propose a list of books as the required textbooks for each course. We also provide additional reading list for every course. 4 Sugtested Teaching Method : ics is to give lectures that dominate theories. This n that economics is devoid of any practical and real_ y reol_life exomples.as possible in the es from different fields of the subject. Suggested Assessment and Evaluation Methods : We follow the directions put forward b evaluation. As per these directions, there will be of each semester. There will be an internal osse assessment is further spllt up as follows. Attendance, (F and viva voce (Five marks) assignment and Record (Ten Marks). of. with respest to evaruation, performance student is evaruated in terms of g,odes. rne un;versity oira.t, to ,r" direct-groding with a s-point Detailed Syllabi CORE COURSES Semester I 1. Micro Economics I a. lntroduction: in Economics begins with a study of the most fundamental ideas that govern economic activities. A beginner normally commences the study of these ideas with two courses in the methodology and principles of economics. The first course covers the simple relations that are Education concerned with microeconomics the economic behavior of individual economic agents. This course is called l. lt will introduce the students to the basic ideas and tools that will be utilized throughout in other courses of the degree programme. b. Objectives: This course is intended to provide students a basic idea in microeconomics and its methodology. The main objective of this course is to equip students with the basic idea of economic analysis. c. Learning Outcome : With this course, students are expected to learn the simple relationships and ideas in the theory of consumption, production, cost and revenue. d. Syllabus Module -1 lntroduction to Social Sciences: Relevance of Social Sciences in understanding and solving cotemporary problems at regional, national and global levels. Module-ll lntroduction to Micro Economic Theory Micro Economics and its scope. Wants & scarcity, Functions of Economic system, Circular flow of economic activity - price determination and functions of prices-concept of margin, Economic models, Methodology, Value judgement, Positive and normative analysis Module-ll1: Basic demand supply analysis Market analysis-market demand and market supply-market equilibrium-adjustment to changes demand and supply / in static and dynamic analysis- comparative static analysis, Algebraic explanation to market equilibrium, market demand and elasticity, Types of elasticity-price, income & cross elasticity, measurement of erasticity, MR and price.erasticity, Erasticity of suppry. Determinants of erasticity, uses of elasticity. Module lV-Consumer Behaviour and Demand utility Analvsis - Totar and Marginar utirity - cardinar & ordinar utirity. tndifference curves_ characteristics, MRS-speciar rypes of rndifference curves, consumer,s rncome-price constraints- Budget Line-changes in rncome and prices and Budget rine, consumer,s choice, utirity Maximisation, The changes in demand and Engers curve, changes in price substitution Effect and rncome Effect / Hicksian and slutskys Anarysis Normar, rnferior and Giffen Goods, (Apprication of Indifference curve Anarysis.) Revealed preference theory. strong ordering and weak ordering. Fundamentar Theorem of consumption Theory, Derivation of Demand curve under cardinal, ordinal and Revealed preference Theory -. Module V-Production/ Cdst and Revenue Production function -Ap and Mp production with one variabre input, production with two variabre inputs, lsoquants - MRTS-elasticity of factor substitution. lso-cost line - Ridge Line, Returns to scate, . cobb Dougras production function. cost of production, Nature of production, costs, short run and Long run costs, rsocost rines. Least cost input combination, Expansion path, Derivation of LAC and LMC, lntroduction to Modern Cost Curves. Concepts of revenue _ AR, MR, TR; Break even point. Reference 1 Dominick Salvatore : Microeconomics : Theory and Applications,,: Oxford delhi. 2 A. Koutsoyannis : Modern Microeconomics, _ University press, Macmillan 3 Hunt, Elgin, F (2008) social science and its methods in social science : An tntroduction to the study of Society : Allen and Bacon 4 AbhUit Kundu (2009) : Methodorogy and perspectives of sociar science - pearson Education Additional Readings 1. Dominick Salvatore ,Microeconomic Theory, Schaum,s Outline series : Tata Magrahill. 2. Lipsey R. and A Chrystal- Economics (11th Edition) Oxford University press New Delhi. Note: case study analysis may be included while teaching various topics, wherever relevant. This may be used for assignments and interna I exa min atio ns only. Semester Macroeconomics -I II a. lntroduction: of economic actions' The second economics begins with the fundamental ideas This the students a view on the economy as a whole' fundamental course i.e. macroeconomics. I offer in the ideas and toors that wiil be uti[zed throughout course wiil introduce the students to the basic other courses of the degree programme' The study of b. Objectives: Thiscourseisintendedtoprovidestudentswiththebasicideasin.classicalandKeynesian macroeconomics. c. Learning Outcome : Withthiscourse,studentsareexpectedtolearntherelationshipsandideasinthemeasurementofand fiscal and monetary policies' the government national income, the .theory of income determination, etc' its role in the functioning of the economy' d. Syllabus Module l: WhY studY EconomicsEconomics A Methodological framework of studying - lts relevance and importance Module 2: Macro Economic Concepts & Models MicroEconomicsandMacroEconomics.NationallncomeconceptsPotentialGNP-ActualGNP-GDP real' Exogenous, Endogenous' ex-ante' ex-post' Nominal' Gap - Green GNP Macro - Economic Models dependent and independent variables - ldentities and Equations' Module 3: ClassicalMacro Economic Model say,sLawofMarkets-wage-PriceFlexibility-classicalModelofoutputandEmployment-Quantity cash Balance Approach - Neutrality of Money Theory of Money - Fishert Equation of Exchange Money irusion _ pigou effect voluntary unemPloYment' - Rear Barance effect - crassicar dichotomy - concept of furl employment - Module 4: Keynesian Macro Economic Model consumption function - Psychological Law of consumption - Determinants of Consumption - APC and MPc-APSandMPS_Paradoxofthrift_lncome,ConsumptionandSavingrelationship_lnvestment of Effective MEC, MEI and the role of Expectations - Principle determinants of investment function - - r Demand - Underemployment equilibrium - Wage. Price rigidity - Determination of lncome in two and three sectors (using Keynesian Cross diagrams and algebra). Module 5: Elementary lS LM Model (Two Sector only) Definition & Derivation of l5 and LM curves - General Equilibrium using lS & LM curves. References: -'Macro economics' Oxford University 1. Edward Shapiro 2. Gregory Mankiw -'Macro economics' - 6th 3 Richard T. Frogmen - 5 EuBene Diutio 6 Errol D'Souza -'Macro economics', press. Edn. Tata Mccraw Hill. Pearson education. Macro economic Theory, Shaum's Outline series. Tata Mccraw Hill -'Macro Economics'- Pearson Education 2008. 7 Abhijit Kundu (2009) : Methodology and Perspectives of Social Science - Pearson Education Additional Readings Dominick Salvatore :'Microeconomii Theory' Schaum's Outline series : Lipsey R. and A Chrytal- Economics (1lth Edition) Oxford University Tata Macgrowhill. Press, New Delhi. Note: Case study analysis may be included while teaching various topics, wherever relevant. This may be used for assignments and internal examinations only. Semester III I Ouantitative Methods for Economic Analvsis - I a. lntroduction Students of economics today need a variety of statistical skills to collect and analyse and interpret empirical data. They also require these skills for advanced studies in empirical-oriented fields Statistical skills have become an essential toolkit for most branches of economics. b. objectives to provide students an introduction to statistical methods and tools that are in used the study of economics at undergraduate level. The aim of this course is to develop skill in statistical techniques that are required for a meaningful study of applied economics and for carrying out This course is intended empirical research. 1 c. Learnint Outcome Students are expected to acquire statistical skills that are necessary for further study in most branches of economics. d. Syllabus Module l. Description of Data and Sampling Statistics-Meaning and limitations-Data: Elements, Variables, Observations-Scale of Measurement-Types of Data: Qualitative and Quantitative; Cross-section, Time series and Pooled Data-Frequency Distributions: Absolute and relative-Graphs: Bar chart, Histogram etc. Summary Measure of Distributions: Measures of Central Tendency, Variability and Shape-Sampling: Population and Sample, Methods of Sampling. Module ll. Correlation and Regression Analysis Cot:relation-Meaning, Types and Degrees of Correlation- Methods of Measuring Correlation- Graphical Methods: Scatter Diagram and Correlation Graph; Algebraic Methods: Karl Pearson's Coefficient of Correlation and Rank Correlation Coefficient - Properties and lnterpretation of Correlation Coefficient Module llt. lndex Numbers and Time Series Anatysis lndex Numbers: Meaning and Uses- Laspeyre's, Paasche's, Fisher's, Dorbish-Bowley, MarshallEdgeworth and Kelley's Methods- Tests of lndex Numbers: Time Reversal and Factor Reversal tests -Base Shifting, Splicing and Deflating- Special Purpose lndices-Wholesale Price lndex, Consumer Price lndex and Stock Price lndices: BSE SENSEX and NSE-NIFTY. Time Series Analysis-Components of Time Series, Measurement of Trend by Moving Average and the Method of Least Squares. Module lV. Nature and Scope of Econometrics Econometrics: Meaning, Scope, and Limitations - Methodology of econometrics-Modern interpretation- Stochastic Disturbance term- Population Regression Function and Sample Regression Function- Assumptions of Classical Linear regression model. References: 1) Anderson, Sweeney and Williams, Statistics for Business and Economics, Thomson Education 2) Richard Levine and David S Rubin, Statistics for Management, Pearson Education 3) Damodar Gujarati, Basic Econometrics, McGraw Hill International 4) A. Koutsoyiannis , Theory of econometrics: An introductory exposition of econometric methods ,n s) Lind D.A., W.G. Marchal and S.A Wathen., Statistical Techniques Economics,TataMc Graw Hill, New Delhi. 6) Gupta S. P, Statistical Methods, Sultan Chand and Sons, New Delhi. Microeconomics a. lntroduction in Business and -II : particular This part of the syllabus focuses on the particulars of the market- lt attempts to explain how a market functions; b. Objectives : It is designed to introduce undergraduate students to the fundamental concepts of the markets and it to the day-to-day strictures. The objective of the course is to apply principles of microeconomic analysis decision-making of firms and market. c. Learning Outcome: It is expected to develop skills in students in understanding the functioning of various type of market. problems of the This crucial skill will certainly help students in understanding and solving economic society, make PolicY. d. Syllabus Module 1: Market Structure - Perfect Competition: price determination in the market period Efficiency implications of the firm. Module 2: lmperfect Competition - - Short period and long period / Equilibrium of the firm - Monopoly: price and output under monopoly - sources of monopoly - Types of monopoly - market demand curve under monopoly - short run and long run equilibrium of the monopolist - (MC -MR approach)- social cost of monopoly -Degrees of price discrimination - Equilibrium of discriminating monopolist - dumping - regulation of monopoly - A comparison of perfect competition and monopoly. Module 3: Monopolistic Competition: Monopolistic competition price and output determination - short run and long run -Product differentiation - selling cost - non-price competition - Chamberline's group equilibrium and the concept of excess capacity. Module 4: OligopolY: Features and types of oligopoly Module 5: : Factor Pricing - Kinked demand curve theory' lnput pricing and employment under perfect competltion employment - demand curve of a firm for an input - Supply curve of an input - - - profit maximization and optimal market demand curve for an input and its elasticity pricing and employment of an input. Recommended Readings: Dominick Salvatore : Microeconomics : Theory and Applications',:Oxford University press, New Delhi. A. Koutsoyannis : Modern Microeconomics. Additional Readings Dominick Salvatore :'Microeconomic Theory' Schaum's Outline series : Tata Magraw Hill. Lipsey R. and A Chrytal- Economics (11th Edition) Oxford University Press New Delhi. Note: Case study analysis may be included while teaching various topics, wherever relevant. This may be used for assignments and internal examinations only. Semester IV tative Methods for Economic Analysis - II a. lntroduction: Economics is increasingly becoming quantitative in nature. Students of economics today need a variety of quantitative skills. Mathematical skills have also become an essential element in the toolkit for higher education. b. Obiectives The students are to develop skills in mathematlcal techniques that are required for a meaningful study of both theoretical and applied economics. c. Leaming outcome This course in quantitative methods will cover the essential topics in mathematics needed for Economic analysis. d. Syllabus Module l- Preliminaries Logic and Mathematical Proof-Concept of Sets-Set operations, Finlte and lnfinite Sets, Cartesian Product, Relations, Functions, Ordered sets, Linear Point sets-Exponents, Logarithms and progression. IL Module ll :Functions and Graphs Types of Functions-functional form-Linear and Quadratic-Solution to system of equations up to three unknowns- Rectangular Co-ordinate System and graphs of functions. Module lll- Basic Matrix Algebra Matrices-Types, Matrix manipulations and their rules, Order of Matrix, Transpose of Matrix- Determinants up to order 3x3- Properties and Value of determinant, Minor and Cofactor, lnverse and Cramer's Rule. Module lV -Differentia! Calculus Limits and continuity-Derivative-Rules of Differentiation- Higher order Derivatives-Differentia lsLogarithms-Derivative of Logarithmic and Exponential Functions. Function of two variables: partial, total differential, Higher order differentials and Total Derivatives, lmplicit functions-Homogeneous functions and their properties-Eule/s Theorem. Maxima and Minima of Functions- Curyature P roperties-Convexity a nd Concavity. References: 1) Taro Yamane, Mathematics for Economists: An Elementary Survey, prentice Hall of India 2) 3) 4) K and P. Hammond, Essential Mathematics for Economic Analysis, Financial Times- Prentice Hall, Lond on, 2002. Holden. K and A.W. Pearson, Introductory Mathematics for Economics and Business, Macmillan,2002. Sydsaeter Barauh.S, Basic Mathematics and Its Application in Economics, Macmillan ,2OOz.AIlen R.G.D, Mathematical Analysis for Economist, Macmillan, 19g6. 5) Dowling E.T, Mathematical Methods for Business and Economics, Schaums Outline Series, McGraw 6) Hill, 1993. Allen R.G.D, Mathematical Analysis for Economist, Macmillan, 19g6. Macro economics -II Policy makers all over the world use macroeconomic theories and related empirical results to frame to formulate their strategies. A sound macroeconomic principles and their applications is essential for students of policies. Similarly, business firms, use these theories and results understanding Economics. of b. Objectives: The objective is to familiarise the students in the application of principles of macroeconomic analysis to the day-to-day decision-making in the aggregate economy. c. Learning Outcome : This course is expected to develop skill in economic reasoning. This vital skill is expected to help them in understanding and solving aggregate economic problems. d. Syllabus Module 1: Theories of Money Nature and Functions of Money - Types of Money: Near money, inside money and outside money. 1' Theories of Demand for money - Defining demand for money - Classical theory of demand for money Friedman's re-statement of Quantity Theory of Money - Liquidity Preference theory and Keynesian Liquidity Trap. 2. Theories of Supply of money: - Defining supply of money - Measuring supply of money - High powered money & money mUltiplier. Module 2: Theories of lnflation and Unemployment Meaning, Types and Theories of lnflation. - Cost of inflation and sacrifice ratio. - Measurement of lnflation in lndia - Meaning and types of unemployment. - Cost of unemployment and Oakun's Law Measurement of unemployment in lndia. - Concept of Stagflation - Concept of Philips Curve. Module 3: Macro economic tnstability and Policy: Business Cycle: meaning, types and phases. - Monitary, Fiscal, and income policy - Meaning and lnstruments. Module 4: Open Economy Macro Economics: a. Foreign trade muttiplier - Four sector macro economic model Using IS-LM-Balance of Payment Schedule. Reference: press. 1. Edward Shapiro -'Macro economic Analysis' Oxford University 2.Gregory Mankiw -'Macro economics'- 5th Edn. Tata McGraw Hill. 3.Richard T. Frogmen 4.Eugene Diutio - -'Macro economics', Pearson education. Macro economic Theory, Shaum's Outline series. Tata McGraw Hill 5.Errol D'Souza -'Macro Economics'- Pearson Education 2008. I r-, Semester V Development Economics Module 1 lntroduction - Defining Deveropment dever Measurement of Physical Quality of Life tndex"?g^yrogrdeveropment(PoLl), Hrr"n Gend (GDI), Gender Empowerment...Measur. S"r"topment tndex (HDl), rndex idrirrj, Human poverty ,U, lnequality and Kuznet,s Econ inverted Module ll problems of Development everoping rti?lt . obstacres Jo oroylh and deveropment - vicious circre i:.m$j#[f l;n3"S,?jif il'Jlli:ffi ','",.rif 'j??i j:jffi i,fl Module lll Theories of development m smith - Ricardo_ theory of economic devetopment; ttllyr, Marx,s Growth moder - Approaches to oeveroj#ent- f;iiff:j,:td unbalanced srowth' of f Schumpeter,s income equiribrium trap - criticar theory, no.tori. .i"ses or Economic .row , o,g Jr.n Module lv Devetopment pranning : rndian Experience -Genesis of planning in-lndiaPlanning commission ii- troi" ,or" ; live year plans in rndia, Bombay pran, 6anor,ian pran- overvL,i, fu.nctions- goars and achievements of five year pran. "ro .*"rt "i References 1. Mier, Gerald . M : Leading issues in Eco_development, OUp, Delhi P : Econ6mic the third'wo,ro,'orani Lonsman, irl::.ffiJ'thael d",;i6;#in 3. Ghatak, Subrata : lntroduction to Developemtn Economics 4' Arther Lewis, w : The principte of econo-ili-c'Rtanning, George A[en (lndia) Pvt Ltd Chakravarth 5. Sukumoy 6. Misra & puri : 7. Thirlwal Ap : Growth Econom Semester V a and nwin ing: the lndian Experience,_ OUp pririiirgiihlo,iT,ii,"jil.,,." rave Mathematical Economics Module l. lntroduction and lmportance -Mathematical Repre.sentations Economic of Economic Modelsions, supply function, Utilitv functior, C"rrri-,ipi,i",i't,i..r.,,or, production function, c tion, profit function, Saving function Mathemati and inyestment function propensity rate of tec ween Aver e Elasticity Module lll constraint optimisation and production function N.4ethods - Economic appricatjons, utirity maximizalion, cosl minimization, ProIit maximization. proJucti6n rrr"tion.' rinear, nomoffio-ris, iir"o Production Functions - Cobb Douglas production function ""i constraint optimization N,4ethods: substitution and Lagrange Module 1V Linear programming concept - Formuration of Lpp - sorution of Lpp, -Graphical interpretation of methods, simplex method dual- application and limitation ot f-ineJr erogri;mini - Duarity -economic Module V Market Equitibrium Market Equilibrium: Perfect Competition References: - Monopoty -Discriminating [,lonopoty ], cttlgng Ac and K. Wdnwrtight, Fundamental methods of [4athematicat Economics,4' Edilion, lvtcGraw-Hi New York, 2005 2. Dowling E.T, lntroduction ro [,4arhemaficar Economics, 2"oedition, schaum series, Mcgraw-Hifl, New york, , 2003 3. R.G.0 Allen, Mathematical Economics 4, Mehla and Madnani - Mathematics for Economics 5. Joshi and Agarwal _ Mathematics for Economics 6. Taro Yamanae - lvlathematics for Economics Environmental Economics Module I lntroduction to Environmental Economics and Basic Concepts Concept ol Environmental Economics- origin- development- invirorimentat Economics and Ecological - Environmental Economics and Natural nes6urce Economics- Basic Concepts - Biodiversity :- Economics genetic, species, and ecosystem properry rjghls, tragedy or commons, Rene*aote ,on . yierd(Msy),. resources, Maximum sustainabre li99ilrt air poflution, witei polution, .oiio hazardous substances, Green National Accounting i"ne*aor" *"it" ,*n"f"r"ni Module ll Envitonmental Valuation ol Environmental Benefits and Costs valuation - "ro problems involved- Direct and lndirect methods of environmental valuation. cost-benelit analysis- net present value and discounting rate Module lll Trade and Environment Does Trade Harm the Environment? Global Pollutants and international Environmental Agreements The Global environment rssues- green house gases and Grobar warming-crimate cha;ge ;rJ orotii"g;Lr"nr. _ Kyoto Protocol, Montreal protocol - Environmental Kuznets Curve - ation and environment _ Sustainable development and it to be done by the students to a place where environmental ls are requested to prepare a note after the visit. Relerence: '1. Kolstad, Charles D (2003), ,Environmental economjcs' OUp 2. Bhattacharya, R N_(2001) 'Environmental Economics, An lndian perspeclive, 3. Iietenberg, Tom 'Environmental and Natural Flesource Economics,,6rh ed., pearson 4. Singh, Katar and Shishodia, Anil (2007) ,, Environmental Economics; Theory and Applications,' Sage , 5. Thomas, Janet M and Callan , Scott J (2007) Enviornmental economics, Thomson South - western lndia ed lb Computer A a. lntroduction ications in Economics : lnformation technology has revolutionised the b. Objectives: l:jffij:" will provide the students with a skiil that is .that is usefut both in job market and in c. Learning Outcome: It is expected to provide the students with those computing skills that are, necessary for success. This course wiil arm the students with the knowredge of fundamentars of computers. d. Syllabus Module 1. philosophicat foundations of Computing software - phirosophy of open source software - sociar computing _ operating systems . Module 2. Creation and Manipulation of Documents word processor basics' New blank document and toolbars. Manipulation of the first d the document' working with graphs, ,,*,-,T,"J';,:::l: ;::,f::r[i,i1t#1t 1,,-,i:igning Module 3: Data Analysis rows and columns. Entering data. Excel toolbars. anipulation of data. Mathematical and statistical lications in economics using simple examples. Module 4: Database Management lntroduction to database' Defining database. Meaning and functions of database management system. creation and manipulation of tables. Updating tabres. working with forms. Handring reports. Applications in economics using simple examples. or"r,"r. Generating l+ Module 5: Preparation of presentations lntroduction to PowerPoint. starting powerpoint. Autocontent wizard. working with texts, graphs, pictures, audio and video in slides. Design templates. Adding transition effects to slides. Adding animation in slides. Previewing the contents. Module 6: The lnternet and E-Commerce Meaning and scope of the rnternet. creating, sending and receiving e-mails. Browsing the www.Downloading from and uploading to the lnternet. online shopping and e-business/ecommerce., E-market. (Concepts) Note: 25 marks for this paper are from internal examination. lnternal marks should be awarded based on practical examinations. Expected practical sessions for teaching: 20 hours. Reference 1. Vikas Guptha - Comdex Computer Course Kit - Dream Teck press 2. Sharma D - Fountations of lT- Excel books. MODULE 1 lntroduction Definilion and scope of economelrics. The Methodology of econometrics - Speciiication and estimation of an economefic model. - Types of data : Time series, Cross section and panel data - Basic concepts of estjmation: Desirable properties of estimators MODULE ll Simple Regression Anatysis and Theoretical Distribution Statistical vs deterministic relationships: Correlation and regression: Coetficient of deiermination: Estimatjon of an equation - Testing ol hypothesis - standard errors: tests based on z, t and hr(chi square statistics MODULE lll Estimation Theory ordinary least squares (oLS) method - assumptions: Guass-Markov theorem - Testing of regression coefficienl. Problems in OLS estimalion. Problems of heteroscedasticity: Auto correlation(first order), Multicollinearity - test and remedies MODULE lV Application ot Econometric Methods Estimation of demand and supply functions - Production and cost functions - investment function Beferences: 1. Damodar N Gujarati, Basic Econometrics, Mccraw-Hill, New york 2, Koulsoyiannis; Econometrics 3. lntrilligator, M D (1980) Economeiric Modets and Techniques, prentice Halt tndia Consumption function and lg Semester VI Public Finance a. lntroduction : Public finance or fiscal economics deals with the fisc of the country. rt is rerated to decision making in A training in pubric finance wiil herp students lfi#:::;ffi:ffi;;r",,i:f;,::rnmentar.e.n.i.,. b. Objectives : The basic aim of this course is to introduce students to the apprication of the techniques, principles of Economics methods and to decision making in public finance. c. Learning Outcome : The students are expected to learn how the principles of economics can be applied to sound finance' Thev are decision expected to learn alr the imporrant economic issues that government ;:llfl:'blic d. Sytlabus Module l: Meaning and Scope of public finance Public finance Advantage Module [: - - Meaning and scope - Public and private Finance - Reasons for the Growth of public Expenditure - wagner,s Peacock - wiseman Hypothesis, canon's of Public Expenditure il: principres public Expenditure Meaning and lmportance Module - of Maximum sociar pubric Goods, private Goods, Mixed Goods and Merit Goods (concept onry). - Hypothesis, Effects of pubric Expenditure. public Revenue sources of public revenue Taxes -classification of Taxes canons of Taxation, principres Ability' Benefit and cost of serviceof Taxation. rmpact, rncidence and shifting of Tax Burden Effects of Taxation _ Major Taxes in rndia. varue Added Tax in rndia , The concepa orrJor, and service -tax (Gsr). Module tV: pubtic Debt and Budget tq Module V: Federal Finance Meaning - Principles of Federalism - Finance Commission (Finance Commission Report - Latest) - lmportance of Local finance in lndia. References (1) R.A Musgrave and PB Musgrave - Public finance - Tata Macgrail (2) Govinda Rao and Singh - Political Economy of Federalism in lndia (3) Govinda Rao - - Oxford. State Finances in lndia lssues and Challenges ( Article) EPW (4) ShankarAcharya -Thirty Years of Tax Reforms in lndia (Article) EPW (5) Bhatia HL - Public Finance - - - 03-08- 2002. 14-05-1995. Vikas Publishing. (5) Lekhy Public Finance and Public Economics - Kalyani publications, Additional Reading 1. Econornic Review - Govt of Kerala 2. Economic survey Government of lndia Semester VI INDIAN ECONOMY WITH SPECIAL REFERENCE TO KERALA ECONOMY Module l: Resource Base and Structure of lndian Economy Economic Geography of lndia - Basic features - Human Resource: Demographic features, extent of unemployment, poverty and inequality: Recent trends and conceptual issues. HDI of lndia - trend in National and Percapita lncome - Sectoral Composition (output and employment) - Primary , Secondary and Tertiary sectors Module ll :Agriculture - - Trends and Composition of Output of major crops Trends in lnvestment, Credit and Agricultural Subsidy Food security and PDS in lndia Evaluating Land New Agricultural Strategy of '1960s(Green Revolution) Reforms in lndia - New Agricultural Policy (in the context of liberalization) - - Module lll: lndustry and Service lndustrial Structure in lndia: Traditional, SSl, Village, Cottage and Modern industries - lndustrial Policy Resolution in lndia till 1991- new lndustrial policy and its impacts - Components of Service Sector - Flole of Service Sector in lndia Module lV: External Sector - Trends and composition of lndia's lmports - trends and direction of lndia's Exports EXIM policy of lndia in FDl, Fll and MNCs in lndia External Borrowing and BOP relation to trade liberalization and its impacts problem in lndia - lnternational lnstitutions (lMF, WB, ADB, WTO) and the lndian Economy - - QO Module V : Kerala Economy (only a broad ouiline is expected) Unique features - Structural composition - Primary, secondary and terliary sectors - Demographic transition in Kerala - - Development Experience lmpact of Emigration and Migration - iourism and development References: I 2' UIq Kapila, (2008), Prakash economy: performance and Policies', 8u, Ed. Academic Fountation, New Dethi sage B A (Ed.).ln9l1! (2009) 'lndian economy Since'1991: Economic reforms inJ-i",torrance, publications New Delhi 3. 4. 5' ture since lndepbndence(200g), NBT, New Dethi 'CnanO vironment and policy - Sultan and Sons evelopment Policy: Special issues with reference De to Kerala, Centre for 6' V' K' Ramachandran on Keralas Development Acheivements. ln Sen & Dreeze -lndia Selected Regional Perspectives - Oxford 7. Various lssues of - Economic Review, Census Reporl, Statistics for planning, Economic Survey 8. Rajan K (2009)(ed) - Kerala Economy: Trends ouring ine post Reform perioJ - Seriat pubtications Semester VI Financial Economics Module I Financial system: Role and Functions of the- financial system instruments - financial instruments - in an economy structure of lndian Financial system - Financial markets and - Banking sector rerorms, Module ll Money Market -Features and instruments call money market, CBLO market. - commercial Banking System in lndia Module lll Role of capital Market in an economy Capital market in lndia evolution and groMh -primary, secondary Market reforms in lndia - Stock Exchanges:functions 'Capital - Structure of stock eichanges- BSE, NSE - - Module, lV Non-banking financial lnstitutions in lndia; nature , role and functions insurance Companies, Venture capital funds, merchant banks, Assei - Classification of NBFCs -mutual funds Heconstruction Companies , Module V - Regulatory institutions RBI role and functions . the securities and Exchange Board of lndia -objectives function sEBt guidetines for primary and secondary m rrket Hole oi tnon and pFRDA - - - - References Graw Hill cGraw Hilt ublishing House education rl (Semester V) Open Course for Non-Economics Students EC 5 D01: Basic Principles of Economics Module 1: Basic Concepts and the Methods of Economics why study economics? - Meaning of microeconomics- Resource scarclty, choice, opportunity cost and the production possibility curves- Central Problems of an economy. lnductive and Deductive methods-Positive and normative Economics' Demand nature, demand function, demand schedule, demand curve, shifts in Demand curvefunction, supply curve, shifts in supply curve- market equilibrium, price - supply -supply determination and imbalances- Elasticity ol demand - Price Elasticity-lncome elasticity-Cross elasticity- Utility- Law ol diminishing marginal utility- Law of Equi-marginal Utility' Module 3: Theory o, Production. Costs and Market Structures Production and production function- costs and prolits- Profit maximization and minimization-Market Structures - cost features of perfect competition, monopoly, monopolistic competition and oligoPolY. Meaning of Macroeconomics -Macro economics paradox-National income concepts - lmportance-Measuremenl of national income. Say's law of market- consumption function, saving function- investment multiplier- lnflation meaning, types and effects - Fiscal and monetary policies: meaning and instruments. - Reference 1 . Anintya Sen - Micro Economics 2. Saumyan Sikdar - - Oxford Principles of Macro Economics. - Oxford lr ll. lnternationar rrade and Finance (EcS Do2) Module 1: lntroduction to tnternational Trade ffi:T'S ,.l#ii:ffil,l3ii ;iTll;:i*: ?,iffi ff o nn co u ntries - rh e co n cept o'rrade as an Module 2: Basic Theories of lnternationat Trade Absolute advantage - comparative advantage - Hcksher ohrin Module 3: Foreign Exchange and Batance of payment components of foreign exchange rate determination (mention exchange rate; specifv mint floating and fixed -Exchange o"i,rr, ppp anj .rppry-J- o"r"ro.-;;;;ruation, depreciation it t'i,,"ntv' BoP .ni 6or - Disequiribri* in-iop - Fu,revaruation, 3:l'r..?#irand and parriar Module 4: lnternational Finance rMF, Worrd Bank, ADB, wTo, rnternationarFinanciar Frow: FDr, Fil, portforio. References: l.Dominick Salvatore,lnternational Economics,, McMillan. 2.Bo Soderstien and Geoffrey _,lnternational Reed Economics,. 3.Francis Cherunilam -,lnternational Economics,. ,lnternational 4.Mannur, H.G. _ Economics,. 5.R.8.1. Bulletin, Various issues. lll. Banking (EC5 D03) Module 1: Banks, Evorution and Economic rmportance, Gro*h of Banking in rndia. Module 2: ng Vs Unit Banking, Group Banking, Chain Banking, Mixed sheet, Rules of Management of flnds, Assets, Liabitities, s' Deposit rnsurances, Merchant aanr<in! -'t;tion"ri.ation of nges after Nationalisation. le Module 3: Negotiable lnstruments, cheques, Bills, Treasury bills, Acceptance Houses, Discounts, Money Maket, Peculiarities of lndian Money Market; Deposits; Borrowings; Primary and secondary sources, Loans, Practices in Lending, Credit creation, Limitations. Module 4: Accounts: Joint accounts, Partnership, company guarantees, lndividual surety, Joint and several Guarantee, Security, Exchange securities, Lile Policies, Payment and collections of cheques' Dishonouring, Negotiability, Crossing and Account payee. Module 5: Central Banking: Evolution Functions- Reserve Bank of lndia. emerging trends in capital market. Relerence - Development Banking in lndia ' : 1. R.S. Sayers, Modem Banking. Macmillon 2. M.D. Decock, Central Banking. 3. S.K. Basu, Banking in lndia. 4. Milnes Holdern, Studies in Practical Banking. . 5. l.C. Dhingra, lndian Economy. - Sulthan chand and sons (Semester Vl) Elective Courses to Economics Students l. Gender Economics (EC6 E01) Module I - lntroduction DevelopmentDefinition of Gender- Gender and sex - Gender Equity and Gender Equality-Gender lndex-Gender Disparity Human Development lndex and Gender Development index-Gender -sex Ratio-concepl of Missing women. Empowerment Measure- Gender status in lndia and Kerala Module ll - Gender Discrimination in lndia and Kerala and wage Gender Discrimination in Labour Force Participation- occupational segregation and Participation Political Ditferences- Gender Discrimination in Education, Health, Employment, Decision Making. ,h Module l[ _ Gender Budgeting Gender awareness in olannl Budserins r#;,;';"1J::%#:it3',3#,rry"".:en's work in Budseting-How to A just our Module lV _ Gender lssues in Contemporary World Women and GlobalisationS oenoe,.,, ro, erailffi;;;:ifflHjnllonor," Empowerment or women. rechnorosy and Feferences: 1. Gita Sen and Canen Crowr 2. Leera curati *"r",,"njrl_#ffiDeveropment ".0 Experience 3.Neera Desai and Maithreyi Krishnaraj; Health_A Gender lssue in lndia 4. Lourdes Beneria and Savithri Biswanathi 3nj ru ueveropment: lsygJ6 ' Gender -vr reer <r' Theoretical, Empirical practical and Approaches 5. Lekha Chakraborthi; lnvisibili of women's work in Budgeting' 6. Nationar rnstitute of pubric a'tY )ance and policy (NIPFP); Gender Budgeting in lndia, www.nipfp.org.in. 7. UNDp - Human Development Reports Il. Heatth Economics (EC6 CO2) Module l: lntroduclion to Health Economics: Defining Health Economics. nit*r$,1+i.-1,,;rif, ldfi :l?+lfl'l,i,:x:# * Adjusted Lire Modure 2: Demand and surr;;;'"#!uaritY Demand for Heaith Care _ C ;::l,T::i";;;r;;,1h:iliJl:ff ili,:il.ff:T:'ji,i,,;,"1.J,fii;ffi :i*;:; Module 3: Health Financing policy:: & Heaith Expenditure cost- Hearth ,r,* _ pubtic & f "i*ilb,i,jffi;l,i,i"riif l,,iffirl, ,[:il',1:i?fi,#;ffepr or user Module 4: Health Statistics in lndia and Kerala: lnfrastructure and Health Status ol lndia & Kerala using informations {rom NSSO, NFHS, CRS and SRS. References : 1) V. Ramankutty - A Premier of Health System Economics (2007) Allied publications New Delhi 2. Kannan KP,et.al...... (1991) Health Development in Rural Kerala 3. Henderson JW - Health Economics and Policy - - (KSSP, Thiruvanthapuram.).. Thomson learning. lll. Economics of Business and Finance(EC6 C03) Module 1 : lntroduction: Basic concept of Business Economics, Financial Economics and l\,lanagerial Economics. Module ll: lnvestments - meaning,nature and importance. Considerations in lnvestment decision and investmenl process lnvestment alternatives - Capital Budgeting - Introduction and methods - Module lll Organising Financial asset various financial assets and securities. lntroduction to Balance Sheets - Evaluation of Balance Sheets - Break even Analysis - Linear and non-linear - time value rnoney Future Value and Compounding - present value of discounting. Module lv lntroduction to Demand Estimation, Demand forecasting - Production Function and its importance - Cost estimation,Cost lunctions - Economics of Scale, Cost cuts and estimation Cartal ,price leadership, price discrimination, pricing strategies. Feferences: 1. Kettell, Brian - Financial Economics Prentice Hall, London - 2001 2. Nellis J., and D. Parker - - Making sense of Market information, Financial Time, . Principles of Business Economics 2na Edition - Pearson Education, London. 3. Griffith A. and S. Wall = Economics for Business and Managemenl (2004) Pearson Education, London - Managerial Economics - Tools for Today's - 2006. 4. Keat P.G. and P.K.Y. Young Pearson Education New Delhi - Decision matters - it Complementary Courses ComplementaryGourse course Tire r I (semester l) aonicu#dilL EcoNoMrcs-r culture in a growing Economy economv : product contribution, Market contribution Factor hanse contributio; - r'-ri.ii5tgng.T. , asricurture and ure in lndia - Challengei O.ior. lndian b;t*;; Agriculture Module ll Economic p an c Agriculture tirm ai a variable proportions concepts ano concept Module lltAgriculture marketab su cooperative markets Agricurturar prices _ stabiri: Marketed and affecting marketable tction t Function - Traditional Production lern production Functionr'["q,j"'i, Function: Law of Approach - cost gricultural prices >table surplu;^in gcgnomic Development ply of Agricultural Produ.i. Ir."gu,.ted _ Factors markets _ I sources _rnstitutionai ;;;"r, _ Fluctuation in References: Economic Development ce (2009), NBT, New Delhi onomics conomics of Agriculture course catesoE;EoMilEnniirrany COUTSE couRSE -1 r(semester,) TitIE: FUNDAMENTALS OF FOREIGN TRADE 1 Module llntroduction ,!3_ty1e..anO. ff:?;#:ii importance t'io" of foreign trade _ f i6)",;;H',[3':,;##',fi:,'Ll'i"',r,tnl^fi.; ,_r;;3[, Ti::":.[,",H.*lll lllodule ll Theories of Foreign Trade :"J'iil;::.i:l:iff";tiex,'lll::y,;jg:[:ij .r.?iil!;yr5"J]J$:,J;r?liriiiJ;Blli:,,n""., ilt Foreisn Exchanse Y:11"_ foreign Lrellntng exchan and exchanse rate er.n"rie-iJi; ;;?J#,;s" ntion'sordsi,;;;;iN:.??:::Hf :iil'Jf;.jfl ],r""{".;ffi -ill?;HJi",JirlJ i+ -Demand and supply of {oreign exchange exchange rate - Devaluation, revalualion , depreciation and apPreciation 'Weily lndia, New Delhi al economics' Macmilon nomic Growth cation 2008 (for BOP in lndia) blications Semester -| Esstntials of Economics - Micro to Economics Modute l: tntroduction with other social r^rhrt Economtcs lS about? - lmportance of the study of economics, relation Micro versus Problems' Basic sociology)' Ilii?.JJ iHistory, iolitical Science, Law, Psychology, Macro Demand Module ll: Theory of marginal utility, law of diminishing marginal utility, demand, law of demand. funciion, ,ri,i,1l il,iiirn etrr[i.itY of demand and its tyPes' fixed cost, total cost, marginal cost, average cost, supply and its types. Equilibrium price, market and Module lV: Theory of Production (short run and long run), economies of scale ili""irr,i", function, types of production function Reference i. O...i.X Salvatore 'Microeconomic Theory', Schuam's Outline Series ll) course Title : AGRICULTURAL ECONOMICS-!l(Semester I' Module I lnstitutional and technological changes in lndian agriculture: Land - Green Revolution -Features of new Strategy, impact of new ;i;j;ft ; New Agricultural Strategy weaknesses of new strategy - lnstitutional,change - land ind aoricultural strategy-achievement , *itiir.: "ui".tir"a progress - rmpact ol land reforms {ause of poor performance of land reforms te ll tndian Agriculture under Five Year Plans Role of agriculture oi - RgncuTture since 195'l - in our, Five Y_.1t_l].1.: investment in agricultural pattern_of of Flanning for Agricultural sector New Economic Policy and Agriculture WTO and lndian Agriculture Crtr"nt Five Year Plan, Recent trends and latest agriculture scenario - - "rd A8 Marketing , Credit ,lnsurance Schernes and References: n Economic Development nce (2008), NBT, New Delhi Economics COUTSE Mo-dule l. TitIE: FUNDAMENTALS OF FOREIGN TRADE II (SEMESIET II) Balance of pavment pavment "';','J;?tr3B':[ffi,#1ifl;-T3rTiiffi,""or gt;fl - Equiribrium and disequiribrium in Bop _Ms25g1ss 16 xl"#r,3:"j,:?:fllrr,roneraryrnsriturions sconomic intesiaril;'i"r:'"o+^lTlif,$:5^ffEt?"Jtropment Bank, rDA - rheir srructure and runctrons - References: ia , New Dethi cs, Macmilon wth (for BOp in hdia) Semester - ll Essentials of Economics _ Macro 21 ing and market price, GNp at market price and factor tncome, of the estimation of national income, difficulties in t market price and factor cost. personal Module ll: Major Classical postutates say's Law of Market, Full employment, wage-price frexibirity, reissez-faire Modu.le lll: Major Keynesian Concepts Effective demand, consumption, savings, under-employment equilibrium, wage price rigidity Reference 1. Diwedi DN 'Macroeconomics Theory and poricy" Tata Magrager course Title: populATroN-sruDIES I (semester ilt) Course Category: COMPLEMENTARY COURSE -l MODULE I lntroduction concept of Population, Demography , Human capital, Human resource , Human resource development, Labour , Population Data ; census and'vital statistics. - Population studt : trrteaning nalure , , scope , objectives and importance - Relation of population studies with other sciences s of population ulation - Optimum Tl".ory of Population - Theory of demographic transition different opulation Growth and their interdependence tion affecting euality of population _Measures of tal Fertility Rate -Reproduction Rate and Net ortality - Life expectancy References: m, Tata McGraw-Hill, Co Bombay stics , B A publishing Corporation, New Delhi hn Wiley, New york Elsvier, Amsterdam,et. d Book of Development Economics, Vol.l&2 , Kanishka publications New Delhi Growth and Economic Development in Low s Princeton university press, princeton etric study of metropolis of sage, New Delhi 8. Srinivasan K (1998)Basin Demographic Techniques and application Sage, Nei, behi 9. Srinivasan k and a Shariff (1998), India; Towardi Population and Demo-graphic Goals, OUp 10. John R Population: An introduction to concepts ard issues gth edition 3o 3::l::"lilj?;f5$,,=?ilfh5f,o^oMrcSr(semester,r) MODULE llntroduction .TH$'ffflff:i:r:,::;1."*la;lgrfi*T - Dirrerenr tvpes or resions - regionar income, probrems or Reference Semester - Ill ,=rrrrorJtiats of Economics - Money, Banking, Finance and Module l: Monev fl:H|1',",'ffi.1;lX,Jtrlt"],.u,,oJflon"r, demand ror and supprv or money, Fischer,s quantity theory or Module ll: Banking I:!:ril1,J'J:XiJi.fJr'r'J#:['ELl"ns and centrar bank, monetary poricy and its instruments, Module lll: public Finance iJiJ:,,1il:#;.:Hr[t,ill"tt, public expenditure, pubtic debt, deficit financins, fiscar policy, Module lV: Trade llHffi,i:f,.:;5i:il,I:XT;Y,|I,'[.;i[TfJ,i,.,i?1,,:J,;ff11H?,.::ffi:; ,no ba,ance or payment, Reference 1. Diwedi DN 2. Salvetor D 3. Salvetor D ufline Series 3t course Tiile : populATroN STUDIES (semester il rv) Course Caregory : COMpLEMENTARY COURSE _1 -population on of Rural ity ptanning ent - Demographic Growth and socio _ wth on long term development, food References: lAgarwal s N (1972) ,.rndi4s popuration probrem, Tata Mc_Graw-Hi1, co Bombay (19e6) lndia's Basic Demographic statisiics , B A pubtishing corporation, i,;itj!,# y, John Wiley, New york 9), hand Book of Development Economics, ndia, Kanishka publications New Delhi on Growth and Economic case study of lndia,s prospects princeton 5;fii'"' s c (1998) Fertility in lndia: An Econometric study of metropotis of sage, New I' Srinivasan Lof;,::Ut in K (1998)Basin Techniques and application sage, New Dethi Q-gmoorlghic k and a shariff (15e8), rndia; ro'*iios population ,nJ"o.mosraphic 10. Misra and pUHl (2008), tndian Economy course Title : REGIoNAL EcoNoMlcs Course Category : COMpLEMENTARY COURSE 1t(semester:rv; _2 NODULE I Regionat Growth ent _ Approaches to Local Economic Development ion of inter. regional objectives; Consistency regional policy measures; Historical evidence 3z lnter- Begjonal djflerences in tndia,s d;velopment lndia nomic base of regions and municipalities f territorial J Regionai ajriinistration: _ Regionat,system ptanning _n"glo;aifinance as a Re,erence Semester - tV Essentials of Economics _ lndian Economy Module l: lndia as a Developing Economy Major rssues: poverty, unemiroy-r"nt-rno'iirqr"rity _ causes and remedies :.3,1'Jfl "::"",.Ti8ffi i8,,?il,lli,"l,".ilo"J3l,.#i. Module lll: plannino Economic pranning ind its objectives; five year pranning in rndia lffiXlLiTlill ii$si [;:1,?TJ"tince rndependence achievements and fairures 8""".ffi :[t""fl nt l. - - ins' people's p]ann Academic Fountarion - plannins, New oerhi II. CO.OPERATION Semester I Co-operation Module 1 : 1 principles and problems of Co-operation: io-op"l"iion ano otner |B1ill'rX?t"t-'j|iffi3i".ol,"o:o.l,.."tion: .iote of Co_operatives 38 business _...-ve v,,,e,p enterprises; in a dynamic economy. Module 2: practice of Co_operation in Foreign Countries: ?e co-operative Movement in Germany, England, Denmark, lreland, Japan' ltaly'France' lnternational Co-operative Alliance. Semester ll Co-operation 2 nlodule 1 : Practice of Co'operation in lndia: - -.--r:..^ ,Legislations ^^: and co-operative origin and Development of. co-operative Movements, Administrations. Recent Trends' Module 2: Co-oPerative Banking: Co-operative Banks' principles and poticy]-nrr"f irima-ry Agricultural 'Iand-Credit Societies, Central gant(i Development Banks, lnstitutions in Aid coBanking Unions, state co-operative operative Banks. Semester lll Co-operation 3 Module 1: Agricultural Co-operatives:. Farming, Co-operative Supply ^(Service Cobo-op"i"tire-production )o-operative Vs Collective -Procissing, Co-operative Storage and oJei":tir"s), bo-operati Marketing, Co-operative . Warehousing. Module 2: t{on-Agricultural Co'operatives : Urban Co-operative Credit Societies'lndustrial Consumers' Co-operatives, Co- lperative. Ilrsing, C"-.p"i"tires, Worke rs' Co-oper ative, Dai ry Co-operatives' Semester- lV Co-operation 4 Module 1: Human Resource Development in co-operatives: bevelopment Nature and Signiti;ce oi Hr*"n nesources in Co-operatives' Co-operative Education and Training. situation' Financial Module 2: Role of co-operatives in a Liberalised a Role of Co-operative Movement in Kerala neporiliittt'v Analysing Vaidyanathan'Committee in Kerata, to operatives and de-centralisation Co-operatives and SHOs - XuOumbasree itlt[l[t"j,,L, principres, p 2. E.S. Bogardus, PrinciPle 3. K.R. Kulkarni, Theory & Co-irperativs The +. C.'Orunain, Agra). ces of co-operation (shivarar Agarwara & co., ration in lndia and Abroad' Form of Enterprise' i. Catvert, Law & Principles of Co-operation' Abroad' O. C.n. Ray, Co-operation at Home & Association' Co-operative of Nature Economic Fniripl, 7. n. S. III. BANKING Semester Banking I 1 Module 1: GroMh of Banking in lndia' Banks, Evolutlon and Economic lmportance, Functions, s4 Module 2: nit g, Chain Banking, Rul ;li; Semester ll Mixed l.-ff;,ffi;:?,,*ll*; Banking 2 Module 1: Negotiable lnstruments, Bills, Treas -rioney .Cheques, of rno[i, Market; Besources, Loans, Irs' pr".ti.". rractlces in ii'L"ijing, Lending, Market' Peculiaritie-s Modute credit Credit 2: Houses, Discounts,Money primi Hnmary and Secondary s; ci Cl ff:?:i:;:3::iTf:l';,'{#"1'gi-'.'J'.il'Fi,,J,il"i.;,,;:,;i.:;!'J:;}:/ii, Dishonourino, rvegoiiaoii,ty,'4il#;""nd Account payee. . Payment and severa, .no Coir,i.trons of cheques, Semester III Banking 3 Module 1: issue system in lndia, B t, Custodian Notions,. R resofi, Bank Rate, Op Module 2: pffiru;:1f,:tfJ?,pfa.: ["?,"::ni,J3B:#3c, NSrc, srDBr: capitar market in rndia, Semester tV Banking 4 Module 1: fii[rfAH:' Banking, Land Deveropment Banks, co-operative Banks, Regionar Rurar Banks, Module 2: E[.11H,oilrJ.;fl;Til,il,: l,:.i3i3:l,,irl..o,,endations of Narasimhan nking. - Mac millon nking. dia. n practical Banking, nomy. Sulthan Chind and sons. comm*tee _Financiar lV. Mathematical Tools for Economics Semester I r Mathematical Tools r EC1 C04 for Economics- I Modute 1: Theory of Sets: 1.1 Kinds of sets, L.2 Operations of sets, 1.3 Venn Diagrams, 7.4 Cartesian 1.5 Relations - Products, Types of Relations, 1.6 Functions. Module 2: Fundamentat of Linear Algebra - Matrices: 2.1The Role of Linear Algebra, 2.2 Definitions and terms, 2.3 Addition and Subtraction of Matrices, 2.4 calar Multiplication, 2.5 Vector Multiplication, 2.6 Multiplication of Matrices, 2.7 Commutative, Associative and Distributive Laws in Algebra. 2,8 ldentity and Null Matrices 2.9 Matrix Expression of a set of Linear Equations. 2.10 Row Operation. Basic Readine 1.Ta royama ne, Mathematics for Econom ists ( P re ntice Ha I l) 2. Edward T. Dowling, lntroduction to Mathematical Economics (2nd Edition), Schaum's Outline Series, McGRAW-HlLL. Additional Readines 1. Maths for Economics, Geoffrey Renshaw, zndEdition, Oxford University Press 2. Chiang A C, Fundamentals Methods of Mathematical Economics, McGraw Hill 3. Michael Hoy, John Livernois, Mathematics For Economics, zndEdition, Phi Learning 4. Mathematics for Economics and Business, Bhardwaj R S, zndEdition, Excel Bool<s Semester ll Mathematical Tools I EC2 C04 for Economics -ll Module 1: Matrix lnversion: 1.1 Determinants and Nonsingularil\t, L.2 Determinants, 1.3 Properties of a Determinant, 1.4 Minors and Cofactors, 1.5 Cofactor and Adjoint Matrices, 1.6 lnverse Matrices 1.7 Solving Linear Equations with the lnverse, 1.8 Cramer's Rule for Matrix Solutions, 1.10 Rank of a Matrix. Module 2: Basic Mathematical Concepts: 2.1Exponents, 2.2 Polynomials, 2.3 Factoring, 2.4 Equations : Linear and Quadratic, 2.5 Completing the Square, 2.5 Simultaneous Equations,2.7 Functions, 2.8 Graphs, Slopes, and lntercepts, 2.9 Graphs of Nonlinear Function. 36 Module 3: Economic Applications of Graphs and Equations: 3 1 rsocost Lines' 3 2 supprv and Demand Anarysis,3.3 production - possibirity Frontiers. Basic Readins l.Taroyamane, Mathematics for Economists (prentice Hall) i.rffil;irlilling' lnkoduction to Mathematicat Economics (2"d Edition), schaum,s oufline Additional Readinss Semester llt- uatnemEicit ToolGlor tconomics- lll Module t: The Derivative and The Rules of Differentiation: 1.2 continuity, 1l 1.s l,':0" Differentiabitity ffi 1.3 The Stope of a and continuitv ,;-';";;..,:^ :i#:*:;"ii:# Curvilir "::lT.""t r','r# )i:ii ti,i i;::x..',:# u rrr.ill"j'ty, . lnflection points, 1.14 curve sket(hin& 1.1s optimizat,". Module 2: Calculus and Multivariable Functions: 1.12 Reiative Extreme, 1.13 "r 2.L Functions of Several Variable second-order Function, 1.4 The Derivative, - r.;;, ;;il:J,:.'''rT'"':'r",'#Rures o Partiar Differentiation, 2.3 2.5 Constrained Optimization wit D ff€rent a s,,, .", *,i i*;;: ::T lr l#::llili;,] Ii El:llll and lnverse Function Rules,"i 2.11 Application of Calculus of Multivariab Basic Readins l.Taroyamane, Mathematics for Economists (prentice Hall) 2. Edward T. Dowling, lntroduction (v Mathematical to lYrd(nematrcal Econorr Economics (2"d Edition), Series, McGRAW-HILL] schaum,s outline Additional Readines 1. Maths for Economics, Geoffrey Renshaw, zndEdition, Oxford University Press 2. ChiangA C, Fundamentals Methods of Mathematical Economics, McGraw Hill 3. Michael Hoy, John Livernois, Mathematics For Economics, zndEdition, Phi Learning 4. Mathematics for Economics and Business, Bhardwaj R S, zndEdition, Excel Books Semester lV i Mathematical Tools i EC4 C04 for Economics- lV Module 1: Special Determinants and Matrices in Economics: 1.1The Jacobian, L.2 The Hessian, 1.3 The Discriminant,l.4Higher-OrderHessians, 1.5 The Bordered Hessian for Constrained Optimization. Module 2: lntegral Catculus :The Indefinite lntegral: 2.1 lntegration, .2.2 Rules of lntegration, 2.3 lnitial Conditions and Boundary Conditions, 2.4 lntegration by Substitution, 2.5 lntegration by Parts, 2.6 Economic Applications. Modute 3: lntegral Calculus : The Definite lntegral: 3.1Area under a Curve, 3.2 The Definite lntegral, 3.3 Area between curves Module 4: lntroduction to Differential Equations and Difference Equations: 4.1 Definitions and Concepts of Differential Equations 4.2 Definition and Concepts of Difference Equations. Basic Readine l.Edward T. Dowling, lntroduction to Mathematical Economics (2nd Edition), Schaum's Outline Series, McGRAW-HlLL. Additional Readines 1. Maths for Economics, GeoffreyRenshaw, zndEdition, Oxford University Press 2. Chiang A C, Fundamentals Methods of Mathematical Economics, McGraw Hill 3. Taroyamane, Mathematics for Economists (Prentice Hall) 4. Michael Hoy, John Livernois, Mathematics For Economics, zndEdition, Phi Learning 5. Mathematics for Economics and Business, Bhardwaj R S, zndEdition, Excel Books Note : 1. This course is a complementary course and is intended for students of B.A. Economics course who may not have sound knowledge of advanced mathematical concepts. Hence questions may be confined to intermediary level. 2. Differentiation / lntegration of Trigonometric functions, logarithmic functions etc., are not to be included. 3s \ Distribution of credit under the UG Economics (ccss) Deveropment Economics Semester- CourseTiilE Subject Hrs/wiEI- t-redit English 4 J 5 3 n 4 6 4 3 z J 2 rmon course 5 5 + nmon Course 6 4 4 4 4 2 - Enelish CormonGrilEl Qa^ Core Course I guage MicroE -:Agricultrrrel p complementary I runaam@ -omplementary H II Macr^El^= i Agncultural EconomidE 4 z rprementary 2 3 I 5 4 5 4 5 4 4 4 3 2 3 2 5 + 5 4 m uore uourse 4 t -<lmptementary lon 3 / ropulation studiesl E;;T;-, D-:: :---. lom nmon uourse ry l0 € Lourse 5 4 I L I uore Uourse 6 mplementary 4 IT rptementary 4 4 Ponrrlnti Re oi^ rornrcs Develo"L_r...vrrr ,.-ore course 9 Core co urse vpen course l0 @ Environ mental G,.,* + I_t II J 2 5 4 5 4 5 4 5 4 3 lq levilUIICS Econoi] A -?o Project work Core course I I 2 Basic Econometrics Core course 12 Public Finance Core coursel3 Indian Econom v with Special 5 4 5 4 5 4 5 4 Reference to Kerala Economy VI Core course 14 Elective course Financial Economics Gender EconomicV Health 2 Economics/ Economics of Business and Finance Project Work Total credit Individual/group activity 2 4 120 4 4o