COURSES OF STUDIES

P R I VAT E E X AM I N AT I O N

Sambalpur University
M.A. PART- II
2012
Economic

Published by
PRIVATE EXAMINATION CELL
SAMBALPUR UNIVERSITY
Jyoti Vihar, Sambalpur
(Odisha)
COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

PAPER - VI ECONOMICS
PUBLIC ECONOMICS
Paper-V : Macro Economic Theory 100 marks
The role of Government, free rider problem, social Paper-Vl : Public Economics 100 marks
wants and merit wants. Paper-VII : Any one 100 marks
a) Mathematical Economics
Theories of budget determination and public
b) Economic System
expenditure, Normative theories based on old and new
c) Agricultural Economics
welfare economics, contributions of Pigou, Dalton, Paper-Vlll : Any one 100 marks
Lindehi Johnson, Samulson and Musgrave's voting a) Econometrics
models. b) Rural Development Theory
Down’s Economic Theory of Democracy and vote, & Practice
Maximisation hypothesis, Empirical studies and the c) Theory of Internation Trade &
Trade Policy
inductive hypothesis.
The question paper shall carry 100 marks with ten
Wagner’s Law, Peacock Wiseman displacement questions and the candidates be asked to answer any
hypothesis empirical studies. five questions.

The evaluation of public expenditure, Cost- benefit Detailed Syllabus

approach for choosing public investment porjects. PAPER - V
lnter-GovernmentaI fiscal relation : Allocation of MACRO ECONOMIC THEORY
taxes. Government responsibilities for services among
Macro Economic Measurements :
different levels of Government. Efficiency issues,
economics of scale and spill overs, political elements in The framework of social accounting : Nature of
federal finance. national income and social accounting, National
income - Measures of National income. The input
Non·correspondence of fiscal capacities and output analysis, Leontiet's open system.
needs at various levels of government machinery for
The classical theory of income determination,
remedying the non-correspondence through shared
Demand for Money, The Quantity theory of money
taxes, conditions and block grants, criteria of transfers
and its modern statement, Friedman Baumol,
in a federal system-equity Vs. growth in Indian context.
Tobin and Patinkin's contributions.
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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

Supply of Money - High Power money, money International aspects of Macro Economic Theory :
multiplier etc. The import function. The foreign trade multiplier
Kenesian Theory : and changes in the levels of income. The terms of
A Determination of equilibrium level income and trade and gains from trade.
output using IS IM model. Saving and investment Balance of Payments :
analysis. The consumption function : The absolute,
Process of balance of payments adjustments,
relative and permanent income hypothesis,
Foreign Exchange, Determination of foreign
Empirical support, Cross section and time series
exchange in free market. Internal monetary
analysis, Cyclical and Secular consumption,
management, I.M.F.
income relationship and reconciliation of such
re la ti on sh ip . Ot he r fa ct or s in fl ue ncin g Books :
consumption. The multiplier and the process of (1) Shapior, Loward : Micro Economic Analysis
income generation. Interaction of the multiplier and (2) Brocman, F.S. : Macro Economics (3)
Accele rat or and income gen era tio n. T he Dernburg, T.F. and Mc Dougall, D.M. : Macro
determinants of investment. Marginal efficiency of Economics (4) Rowan, D.C. : Output Inflation and
capital, Technological change and innovation, growth (5) Ackley, G. : Macro Economic Theory
Autonomous and induced investment. (6) Edey, H.C., Peocock, A.T. and cooper Ronald
Trade Cycle : : National Income and Accounting Theory (7)
Clower, R.W.: Monetary Economics (8) Gurley, I
Monetary theory of trade cycle - Contribution of
and Shaw : Money in a Theory of Finance (9) Day,
Hawtrey, Hayek Friedmen etc., Outlines of non-
A.C.L. : Outline of Monetary Economics (10)
monetary theories of Trade Cycle, Contributions
Newlyn, W.T.: The Theory of Money (11) Sen, S.N.
of Schumpter, Kaldor, Samuelson, Hicks.
: Central banking in under- developed money
Theory of Inflation : market (12) Chandler, I.V. : An International to
Definition and measurement of Inflation, Demand Monetary Theory (13) Klidicharger, C.P. :
Pull & cost inflation, Philips curve. Expectation, International Economics (Part-VI) (14) Hick, LR. :
Monetarist Vs. Structuralist controversy. Income A Contribution to the Theory of the Trade Cycle
Policy, Monetary Policy, Objectives, Instruments (15) Hansan, A.H. : Business cycle and National
and Scope of Monetary policy. Central Banking Income (16) Mullcu, M.G (ed) : Readings in Macro
techniques, General and Selective Controls. The Economics (17) Committee on the working of the
growth of non-banking financial intermediaries. Monetary System : H.M.S.O.
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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

Equilibrium under different market forms : Taxation :

Perfect competition monopoIy, the discriminating Concept of equity in taxation, Horizontal Vs
monopolist, the multipliant monopolist, Ducpoly Vertical equity. The benefit and ability to pay
and eligopoly, the Cournot solution - the market approaches. Index of ability to pay, concepts of
shares solution, the Stackleberg solution, the equal sacrifice and tax formulae under different
Ki nked d eman d cu rve so lu ti on , pr od uct concepts. The index of equality consumption Vs
differentiation, many sellors, General equilibrium. Income.
Linear Programming : The Theory of Incidence :
The simplex method, linear programming and the Alternative concepts of incidence. Problems and
theory of firm linear Programming approach to difficulties encountered in formulating general
regional economic planning. Duality - Economic theory of incidence.
interpretation of dual problem, Dual prices and
Neutrality and the avoidance of excess burden.
decentralised decision making.
The excess burden of indirect taxation controversy.
Elements of Games Theory :
Study of different taxes :
The Zero-sum two person game, maximin and
Income tax, corporation tax, Expenditure tax,
minimax strategies, optional mixed strategies,
Wealth tax, Work saving, Output effect of Income
Inter relation between linear programming and
tax and commodity taxes.
game theory, theory of games, Doupoly solution.,
Structure of revenue and public expenditure in
Input-output Analysis :
India. Debt burden controversy, Indian Public debt
L e o n t i e f ’s St a t i c S yst e m, o p e n sy st e m, and its management.
Leontief’s closed system - the dynamic system.
Fiscal Policy :
Macro Economics :
Growth, equity and stability - Indian scenario,
The circular flow of income, consumption and Multipiler efffects of a balanced budget, Deficit
saving functions, Multiplier, Classical model of budget, Multiplier in and under developed
i n c o me a n d e mp l o y me n t , S a vi n g a n d economy, built in flexibility, problems of Formula
investment, Keynesian models, simple Flexibility, Rules Vs. discretion.

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

Basic Readings : PAPER-VII

(1) Musgrave, R.A. : The Theory of Public Finance, a. MATHEMATICAL ECONOMICS
(2) Prest, A.R.: Public in Theory and Practice (3)
Due, J.F. : A Government Finance, An Economic
Analysis. (4) Buchnan, J.M. : The Public Finance Theory of Consumer Behaviour :
(5) Downs, A. : An Economic Theory Democracy Basic concept, the nature of utility function, in
(6) Pracock, A.T & Wiseman J. : The Growth of difference curves, the marginal rate of substitution,
Public Expenditure in the United Kingdom (7) Bird, the maximisation of utility. The choice of a utility
R.M. : The Growth of Government Sponding in index, Demand curves, substitution and income
Canada (8) Bird, R.M. and Oldman, O : Reading effect, The Slutskv equation, Cross effects,
on Taxation in Developing countries (9) Blaug, M substitutes and complements. The theory of
(ed) : Economics of Education Vol. (1,2,3,4,5, 11) revealed preference axioms. The substitution
(10) A.E.A and Royal Economic Society : Surveys effects.
of Economic Theroy (Vol.l), Misan’s Survey of
Welfare Economics and Vol.lll, Theories of Cost Theory of Production :
Benefit Analysis : A.R. Present and Turvey Ba si c concep ts, t he pro du cti on fu nct io n,
(11)Buchahan, J.M. : Public Principles of Public isoquants, optimising behaviour, constrained
debt (12) Buchahan, J.M. : Fiscal Theory and output, Maximisation and cost minimization. Profit
Political Economy (13) Turvey, R. : Public Maximisation, cost functions, Short-run and long-
Enterprises (14) Gupta, S.P. ; Economics of Scale run cost function, Hornogeneous production
in local Government Services (15) Peacock, A.T. function, CES and Cobb Doublas production
: Income Redistribution and Social Policy (16) function, C.E.S. production as a family of
Kaldor, N. : An Expenditure Tax (17) Kaldore, N.: production, function, BuIer's theorem and
Indian Tax Reform (18) U.N. : A Manual for distribution joining products.
e co no mi c an d fu ncti on al cla ssif icat io n
Market Equilibrium :
Government Transaction (1985) (19) Peacock,
A.T. and Shaw, C.K. : The Economic Theory of Demand function, the derivation of supply function
Fiscal Policy (20) Chelliah, R.J. : Fiscal Policy in for different time - periods, External economics and
undr-developed countries (21) R.A. Musgrave and diseconomics, the equilibrium of commodity
P.B. Musgrave: Public Finance in Theory and market, factor-market equilibrium. Dynamic
Practice. equilibrium with lagged adjustment, Cobweb
models.
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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

Nationalised lndustry and Public Ownership (26) Keynesian model the multiplier. The Keynesian
T.J. Hughes & D.E.T. Luard : The Economic theory of income determination - IS and LM
Development of Communist China (27) Ghoh schedules, the labour market, the complete
Mit ag li ( ed ) : In du st ri al Devel op me nt o f Keynesian model, Keynes and the classics,
Communist China (28) Alexander Eckstein : Government expenditure and taxation, the
Economic Development of Communist (29) Multiplier, the IS and LM Schedules, Taxes with
George W.W. Hoffman : Yugoslovia and the ne2w income. Second order difference equations and
communism and Free Warner Neal (30) Alver Linear models, the trade cycle - the Hicks -
Waterson : In Yugoslovia (31) C.A.T. Crossland : Simuelson Multiplier - Acceleration interaction.
The Future of Socialism (32) M. Dobb : Studies in Simple Growth Model :
the Development of Capitalism (33) Oskar Lange
& Fred M. Taylor : On the Economic Theory of Harred - Domar model, A General Neo Classical
Socialism. (34) Charles Betrlien : Soviet Economy Model - Solow model.
(35) Charles Betrlien : Political Economy of Basic Reading :
Socialism (36) John Robinson : freedom and
1. Hen derso n, J.M. & Q uantt , R.E. : Ma cro
Necessity (37) Mydras : Village in China.
Economic Theory, Mathematical Approach,
(Chapter - 1,2,3,4, 5, 6 Appendix).
PAPER - VII 2. Allen, R.G. D : Macro Economic Theory, A
c. AGRICULTURAL ECONOMICS Mathematical Treatment (Chapters- 2,6,7,8,
11,14, 17).
Role of agriculture in economic development.
Models of Lewis and Fei and Ranis : Subsistence 3. D o r f ma n , Sa mu e l s o n S o l o w - L i n e a r
(traditional) agricultural and its modernisation, Programing, Economic Analysis (Chapters -
agricultural surplus and its method of mobilisation. 1,2,3,4,5,9,10,11,15 and 16).

The Neo-classical Theory of Farm Production :

The farm as a decision making unit for resource
allocation, production function, substitution
between inputs, enterprise choice. The profit
maximising farm.
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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

PAPER-Vll capitalism (3) William, N. Louck : Comparative

Economic Systems (4) Carl Landaver : Contemic
b. ECONOMIC SYSTEM
Systems (5) George N. Halm : Economic Systems
Performance Criteria an values, Traditional - A comparative analysis (6) Morris Borrstein :
Economics and Feudal System, Farlier Capitalism - its Comparative Economic Systems Models and
institutional characteristics and problem. Advanced Cases (7) Marshall, J. Coldman : Comparative
Capitalist Economy, its institution, Strength and defects/ Ecnomic systems - A Reader (8) Wayme A.
Democratism. Leeman : Capitalism, Market Socialism and
Planning and Control in Capitalist Economics, Central Flagning, (9) Friedric A. Hayek : The Road
in Seridom (10) Nicolas Spulber : The Soviet
Nationalisation and role of Public Enterprises, views of
Economy (11) Franklin, D. Holzman : Readings
capitalism, The conservative view (Adam Fmith,
on Soviet Economy (12) Morriees Bornstein and
Frienderic Hayek and Miltan Fridman). The Liberal views
Danie, R. Fusfeld : The Soviet Econmy, A Book of
(John Stuart Mill Keynes Schumperer and Galbraith), The
Readings, (13) Abram Bergson : The real National
redical view (Marx and Tweezy).
income, Soviet Russia since 1928 (14) Abram
The command socialistic Economics - institutions Bergson and Simon Kuznels (eds) : Economic
and organisational structures of the Soviet and Chinese Trends in the Soviet Union (15) Kevert W.
Economics. Centralised Planning Goals, Coordination Campbell : Accounting in Soviet Planning and
techniques and execution of the plans. Management (16) Milton Friedman : Capitalism,
Socialism and Democracy (17) Joseph A.
Short term plans (as a substitute for market
Sch umpe te r : Ca pi ta li sm, So ci al ism an d
mechanism), medium and long term plans, planning and
Democracy (18) Jonh K. Galbraith - (i) A American
prices incentive. Factors behind rapid growth in
Capitalism, the concept of countervailing power
co mman d econ omics. Possi bl e re tu rn in g an d
(ii) The Industrial State (iii) The Affluent Society
accelerating factors.
(19) Paul Baran and Paul Sweezy : Monopoly
The socialist market economy - An appraisal of Capital (20) Henry Wallich : The cost of Freedom,
decentralization Yugoslovia. Conservation and modern capitalism (21) Paul
Books for Reference : Sweezy : The Theory, Capitalist Development (22)
Aleo Nove : The Soviet Economy (23) Abram
a) Economic System : Bergson : The Economics of Soviet Planning (24)
(1) Gragory Grassman : Economic Systems, (2) Carl Landaur : European socialism, A History of
Richard Romano & Melvin Leman (eds) : View of Ideas of Movements (25) Wiliam A. Babson :

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

b) Pro bl ems of Aut o co rr el at io n an d its Nature of risk and uncertainty :

consequences. Generalised Least Squares. Tests
Type of risks and uncertainty in agriculture : nature
for presence of Auto correlation disturbance.
of risk behaviour among the farm households. The
Estimation methods and prediction problems.
impact of risk and uncertainty on organisation
c) Pro bl ems of Mul ti co- li ne ar it y an d it s
production policy implications, crop insurance.
consequences.
Farm Size and Technical Change :
d) Problemsof Hetero dasticity, consequence,
weighted regression. Economic concepts of scale and farm size. Farm
size and factor productivity, invese relationship
e) Use of Dummy variable regression analysis.
between the farm size and productivity (the India
f) Distributedlrlog models - Koyck transformation. debate).
Simultaneous equation System :
The share cropping Peasants :
a) Meaning of Structure and Model - Structural form Forms of tenure and tenancy, economic and social
and Reduced form. impact of tenancy on farm production and income,
b) The identification problem, rank and order alternative views.
conditions of identification.
Technical Change :
c) Methods of estimation with properties. Economic analysis of technical change, induced
i) Reduced form estimation & indirect least in novati on , f arm me chi nisati on an d HYV
square. technology, shift in production function, Green
ii) Two stage least squares. revolution and income distribution, nature and
iii) Limited information, Single or least variance cause of green revolution, effects of green
ratio. revolution on income and on relative factor shares.
iv) Full information- maximum likelihood. Agricultural growth in India :
v) Three stage least squares. Inter regional variations in growth of output and
productivity.
Empirical Econometrics :
Ap plicatio n of the ory of e cono metr ics in Agricultural Prices :
estimation of Demand Cost and production Demand and supply of agricultural products.
function. Determination of agricultural price: the cost

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

of production as basis of prices policy. Parity: rice contemporary Theory, Oxford University Press,
parity with other sector, with international price Delhi (6) Bhaduri, A : The Economic Structure of
level, Recent debate on determination of
Backward Agriculture, Macmillan, Delhi. (7)
agricultural price in India.
Ghatak, S. & K. lntensent : Role of Agriculture in
Terms of trade between agriculture and non- Economic Development (8) Booth and Sundrum
agriculture.
(1986) : Labour absorption in Agriculture.
Agricultural Factors Markets :
PAPER-Vlll
Production factor - Characteristics of factor
markets · Inter - linkages between land-labour, a. ECONOMETRICS
product and capital markets in traditional and
Single Equation System :
developing agriculture.
Role of capital and Agricultural Credit : 1. Classical Linear Regression :
Structure of formal and informal credit markets. The two variable model, assumption - least square
The concept of forced commerce. Progress and method, for estimation of regression parameters
Problems of formal credit in India, interest rates and the Gaus Mark off theorem, Estimation of the
policy and its implication, Input market structure error variance, test and confidence intervals. The
and marketing efficiency.
correlation coefficients, Analysis of variance.
Inter regional variation in growth of output and
productivity. 2. Extension of two variable Model :
Books for Reference : Two variable non-linear relationships and
Selected Reference : significance test.

(1) Ellis : The peasant hetasehold economy 3. General Linear Model :

( 2 ) H a y a m i , Y a n d V. R u t c h ( 1 9 7 1 ) : Assu mp ti on s, L ea st Squ ar e esti ma ti on ,
Agricultural Development : an International
perspective, John Hopkin Balarmore (3) Rudra, significance tests and coefficients in two relations.
A. (1982): Indian Agricultural Economics - Limitations of least Square Method in Regression
Myths and Realities, New Delhi (4) Bardhan, Analysis :
P. (1984): Land, Labour and Rural proverty,
Oxford University Press, New Delhi (5) Basu, K. a) Problem of Error in variables and approaches to
(1984): Less Developed Economy : A critique of solve this.

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

Agricultural Prices : Casting :

Agricultural Prices Policy & Public distribution Fo re c asti ng wi th si n gl e equ ati o n.
system. Regrenion model, Short - term forecast &
long-term forecast.
Rural lndustrialisation : Books for Reference :
Concept and Scope Govt. Pricies, Mini-Industrial (1) Johnston J : Econometric Methods (2) A.
esta te , TRYSEM. St ra te gi es o f Ru ra l Walters : An Introduction to Economic (3)
Development in Plans, Poverty Alleviation C.E.V. Lesser : Econometric - A Technique
programmes, People's participation, Voluntary and problems.
agencies. Suggested References :
Books for reference : (1) Goldberger, V.S : Econometric Theory (2)
Klein, L.R. : A Text Book of Ecnometrics (3)
(1) Srinivas : Tradition and Modernity (2) Dube : Klein, L.R : An introduction to Econometrics
lndian Vilage (3) A. Coirncross : Non-Economic (4) Christ, C.F. : Econometric Models and
Factors in Economic Grwoth (4). Teodre Schultz : Me th od (5 ) Tin te r, F. : Econo me tr ics ( 6)
Transforming Traditional Agriculture and Income Wonnacr, J. & Wonnacott; T.H. : conometrics
Distribution (5) Dendekar & Rath : Poverty in india (7) Malinwood F : Statistics Econometrics (8)
(6) Hammuntha Ray : Technological Change in Cromer, J.S.L : Empirical Econometrics (9)
Agriculture and lncome Distribution (7) S.K. Dey: Lange, O : An Introduction of Econometrics
Community Development (8) Namavati & Anjaris: 10) Valanis, S. : Econometrics (11) Klenin,
L.R. & Goldberger, A.S : Impact Multipliers
India's Rural Economy (9) Sethy : Gandhian
Properties of the Klein Goldberger Model
Econ omics (1 0) Bha gwat i : Re po rt o n
(12) Rao,C.R (ed): Essays on Econometric
Unemployment (11) Todara : Economic of Third and Plann ing (13) Mohan obis P.C. : The
World Countries, (12) Singh Kartar (1996) : Rural approach of operational research of Planning
Development, Sage, Delhi, (13) lswarn M. KotwaI,: in india (14) Tinvergen, J. : Econometrics
Why Poverty persists in india, Oxford University (15) Tinter, G": Methodology of Mathematical
Press. Economics and Econometrics (16) Theil, H
: Economic Procasting and Policy (17) Theil,
H. : Economics (18) D.W.C. & Koopmanst:
St ud i e s i n Eco no me tr i cs, Met h o ds, Ne w
Yor k, W i l ey (1 9) Kl e in , L .R. : Econ o mi c
Fluctuation in the United states, 1921, 1951,
New York Wiley (20) Prais, S.J. and Houthakker,

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

H.S. : The Analysis of Family Budgets, Cambridge PAPER- Vlll

University Press (21) Stone, R : The Role of
b. RURAL DEVELOPMENT
Measurement in Economic, Cambridge University
Pr ess (22 ) Dr yme s, P.G : Econ ome tr ics, Introduction:
Harperand Row (23) Merill, W.C. & Karl Fox : Meaning of Rurla Development. Basic concept of
Introduction to Economic Statistics (24) Would, Development, objectives of development. The
H.D.A & Jureen : Demand Analysis (25) Stone, R
rising expectations and development. Man as the
: Measurement of Consumer Expenditure and
cause and consequences of development.
Behaviours in theU.K (26) Zellner: Readings in
Economic Statistics and Econometrics (27) Determinants of Rural Development :
Aicthinson & Browa : The Logreemal Distribution Introduction, changes in out put : Changes in
Theoretical Statistics : utilization of natural resources, employment,
(1) Cremmer, H. : The Elements of Probability technology. Charges in organisational and
Theory (2) Parze, H : Modern Probability Theory institutional frame work. Relation between Rural
and its application (3) Grammer, H : Mathematical development and determinants.
Methods of Statistics (4) Rao, C.R. : Advanced Land :
Statistical Methods in Brometric Research (5)
Mood, A.M. : Introduction to the Theory of Utilisation, land reforms, rurla labour and
Statistics (6) Willks, S.S. : Mathematical Statistics employment; disguised unemployment and
(7) Anderson, T.W. : Introduction to Multivariate estimation at proverty.
Statistical Analysis (8) Anderson, R.L. and Production :
Beneraft, F : Statistical Theory in Research (9)
Foller, W : An Introduction to Probability Theory Agricultural growth in India, green revolution and
and its application (10) Rendell, M.G. : The farming technology.
Advanced Theory of Statistics Vols. I & ll (11) Roy, Capital formation in Rural Section :
S.N. : Some Aspects of Multivariate Analysis (12)
Schufe, H : The Analysis of variance (13) Kemeny, Cerdit institutional and non-instituional; role of
J.G. and Shell, J.L. : Finite markov Chains (14) NABARD and RRS.
Grybill, F.A : An Introduction of Linear Statistical Rural Marketing :
Models (15) Kendall M.G : A Course in multivariate
Regulated markets and co-operative marketing.
Analysis.

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

PAPER-VIII
c. THEORY OF INTERNATIONAL TRADE
AND TRADE POLICY
Pure Theory of International Trade, Theory of
Comparative advantage, classical and neo classical
contributions of Smith, Ricardo, Mill, Marshall, Trussig, Edg
worth, Viner and Haberies etc.
General equilibrium theory of national and
international trade and factor price equalisation,
Contribution of Hecksher Olhin, Leentief Ellsworth,
Samuelson and Lancaster, Different concepts of trade
commodity, terms of trade, Net Barter and Gross Barter,
terms of trade, single and double Factoral terms of trade
and income terms of trade, Gains from international trade,
Relationship between terms of trade and gains from trade.
Monetary theory of International trade, International
Accounts, Balance of payments, disequilibrium in
international payments - Adjustment mechanism classical
approach under fixed and flexible exchange rates, income
and absorption approaches, Direct trade control - Exchange
Controls, Multiple exchange rate, Fiscal controls,
quantitative trade restriction. Late trading control, control
of short term capital movement, Flexible Exchange ratio.
International and External Balance.
Foreign trade Multiplier, Determination of exchange
rates, Demand and Supply of export and import, Market
for foreign currency, Purchasing power parity theory.

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COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION COURSES OF STUDIES FOR M.A. PART - II PRIVATE EXAMINATION

Transfer Problems : International Trade (6) Ford; Chlin Hacksher

Problems of International liquidity and the role of Theorems (7) A.E.A : Reading in the Theory of
I.M.F. in solving this problems, international International Trade (8) Theoretical issues
currency plans, International issues for developing International Economics - Clement Prsiter and
monetary countries. Theory of tariffs Free trade Roth - Whill (9) Kreini, M.E. : International
versus protection, W elfare implication · of
Economics (10) Johnson, H.C : International Trade
international trade customs unions, Foreign
exchange problems for developing countries, Economic Growth (11), Johnson, H.G : Money
commercial policy and economic development. trade Economic Growth (12) Readings in
The terms of trade of developing economics, International Economics.
Export instability of stabilisation policies, the role
of UNCTAD.
Books for Reading :
(1) Kindle Berger, C.P. : International Economics
(2) Walter, I : International economics (3) Ohin,
B: International and International Trade (4)
Harberler : Theory of International Trade (5)
Bhagrwati, J (ed) : International Trade (6) Staley
C.E : International Economics (7) Soammel W.M.:
International Monetary Policy (8) Krause W:
In te rn at io na l Econ omics (9 ) El lswo rt h :
International Economy (10) Meade, J.E. : The
Theory of International Economic Policy, VoI-l.
Books for Reference :
( 1 ) Vi n e r, J : St u d i e s i n t h e T h e o r y o f
International Trade (2) Cavas, R.E : Trade and
Economic Structure (3) Soddrasten, B.C. :
International Economics (4) Bowda, K.V :
International Currency Plans & Expensional
Trade (5) Mukherjee, S : Factor Endowment and

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