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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