SNDT Women’s University

Syllabus – PET Economics

1 Microeconomics
2 Economics of Growth and Development
3 Macroeconomics
4 Indian Economy
5 Industrial Economics
6 Agricultural Economics
7 Demography
8 Economics of Gender and Development
9 Labour Economics
10 Public Economics
11 Economics of Social Infrastructure
12 Financial Institutions and Markets
13 International Economics
14 Mathematical Economics
15 Econometrics
16 Urban Economics
17 Rural Economics
18. Economics of Physical Infrastructure
 MICROECONOMICS – I

Sr. Topic and Details

No.

1. Introduction and Consumer behavior :

Basic Concepts-Economic Models, Exogenous and endogenous variable, Optimization and

equilibrium. Demand curve, Supply curve, Market equilibrium, comparative statics- Market
structures. Extension of demand and supply analysis -Elasticity of demand and supply- Income
elasticity- concept , methods of measurement-empirical estimation, relationship between
individual demand and market demand, application of elasticity of demand. Consumer
behavior-The problem of optimization; budget constraints, consumer preference, utility, choice,
derivation of law of demand. Revealed preference- The weak and strong ordering- axioms of
revealed preference-law of demand-from revealed preference to index numbers. Revision of
demand theory by Hicks- Consumer’s surplus.

2. Production and Costs:

law of variable proportions and returns to scale ;Production function: Cobb-Douglas , CES,
VES and Translog functions, Cost of production – concepts - Costs in the short run-long run,
cost minimization input choices, isoquants – iso-cost, Least cost combination of inputs ;
production with two outputs – economies of scope, learning curve.

3. Partial and General Equilibrium:

The competitive firm (partial equilibrium); General equilibrium, efficiency in exchange – equity
and efficiency, efficiency in production, the gains from trade, market failures – market power,
incomplete information, externalities, public goods.
4. Welfare economics:

Pareto optimality; criteria for value judgments, social welfare function, Pareto criterion,
Kaldor-Hicks criterion, Bergson Criterion, Arrow’s Impossibility Theorem.
 MICROECONOMICS – II

Sr. Topic and details

No.

1. Game theoretic approach:

Basic concepts, Zero sum game, pure strategy – pay off matrix – Nash Equilibrium.

2. Price output determination:

Price-output determination under different market structures – Monopoly – price discrimination

under monopoly – welfare aspects of monopoly – monopolistic competition – short run and
long run equilibrium – excess capacity, Chamberlin’s approach – Oligopoly – Non-collusive
models (Cournot, Bertrand, Edgeworth, Chamberlin, kinked demand curve and Stackelberg’s
solution) Collusive Models (Cartels, Price Leadership).

3. Alternative Theories of Firm:

Critical evaluation of marginal analysis; Baumol’s Sales revenue maximization model – full
cost pricing rule, Bain’s limit pricing – Sylos-Labini model.

4. Markets for factor input:

Factor pricing with perfect competition and imperfect competition in both the markets;
Monopsony power and monopoly power, product exhaustion theorem.

5. Market with asymmetric information: Markets for lemons, market signaling, moral hazards,
principal agent problem.

6. Choice under uncertainty:

Describing risk – expected value, decision making under uncertainty, Neumann-Morgenstern

Index, preferences towards risk – reducing risk-diversification-insurance. The demand for risky
assets-the trade off between risk and return-mean variance model of asset choice.

References:

 Arrow, K.J. and M.D. Intrilligator (Eds) (1981), Handbook of Mathematical Economics, Vol,
I North Holland, Amsterdam.
 Braodway, R.W. and N. Bruce (1984), Welfare Economics, Basil Blackwell , London.
 Da Costa, G.C. (1980) , Production, Prices and Distribution, Tata McGraw Hill, New Delhi.
 Hall of India, New Delhi.
 Hansen, B. (1970), A Survey of General Equilibrium Systems, McGraw Hill New York.
 Henderson, J.M.and R.E. Quandt (1980), Microeconomic Theory:A Mathematical Approach,
McGraw Hill, New Delhi.
 Hirshleifer, J. and A. Glazer (1997), Price Theory and Applications, Prentice
 Koutsoyiannis, A. (1979), Modern Microeconomics, (2nd Edition ), Macmillan Press, London.
 Kreps, David M. (1990), A Course in Microeconomic Theory, Princeton University Press,
Princeton.
 Layard, P.R.G. and A.W. Walters ( 1978 ), Microeconomic Theory , McGraw Hill, New
York.
 Pindyck Robert S. and Rubienfeld () , Microeconomics
 Salvatore D., Microeconomics
 Sen , A. (1999 ), Microeconomics : Theory and Applications, Oxford University Press, New
Delhi.
 Stigler, G. ( 1996 ), Theory of Price, ( 4th Edition ), Prentice Hall of India, New Delhi.
 Varian , H. (2000), Microeconomic Analysis, W.W. Norton , New York.
 ECONOMICS OF GROWTH AND DEVELOPMENT-I

Sr. Topic and Details

No.
1 Basic Concepts:
Economic growth and development- Measurement of Development-Indices of development-
Inter country comparisons of development-Development Gap.
2 Economic Growth Models-:
Neo- classical – Solow and Meade- Joan Robinson’s Growth Model-Hicks-Harrod-; learning
by doing approach, Harrod- Domar Model, Technological progress- embodied and
disembodied technical progress-Kaldor and Pasinetti- Two sector model – Endogenous
growth.
3 Economic Growth Theories :
Theories of growth and development : Circular Causation, Unlimited Supply of Labour, Ranis
and Fei model, Big Push, Balanced and Unbalanced Growth, Critical Minimum Effort, Low
Level Equilibrium Trap, Dualism
4 Theories of Development:
Classical theory of development- contributions of Adam Smith, Ricardo, Malthus and James
Mill, Karl Marx and development of capitalistic economy- theory of social change, surplus
value and profit; Schumpeter and capitalistic development, innovation- role of credit, profit
and degeneration of capitalism, Structural analysis of development.
5 Views of Development:
Dr. Babasaheb Ambedkar -state socialism, - Mahatma Gandhi- Trusteeship; Amartya Sen-
entitlements.

ECONOMICS OF GROWTH AND DEVELOPMENT-II

Sr. Topic and Details

No.
1. Social ,Institutional and Infrastructure Aspects:
Role of Infrastructure in economic development and its importance- Population as limits of
growth and as ultimate source- Population , Poverty and Environment, Human Resource
Development (HRD)- Development and Quality of Life- Education, Health, Nutrition
Development and Underdevelopment - Perpetuation of Underdevelopment- Poverty, Absolute
and Relative.

2 Sectoral Aspects of Development:

Agriculture- Role of agriculture in economic development, Productivity in Agriculture, New
technology and sustainable agriculture. Industry- Rationale and pattern of industrialization in
developing countries, The choice of techniques and appropriate technology. Labour- Labour
markets and their functioning in developing countries.

3 Trade and Economic Development:

International trade as engine of growth- Prebisch, Singer and Myrdal thesis-Free vs. Protective
trade- Export-led growth, Dual Gap analysis- Balance of Payments – Protective policies- WTO
and developing countries.
 4 Macro Policies and Development:
Monetary and fiscal policy- Foreign Direct Investment (FDI) – Multi-National Corporations
(MNCs)- IMF and World Bank and Developing Countries.

5 Planning and Development:

Role of planning – Types of planning – Review of Indian Plans.

References:

 Adelman, I. (1961), Theories of Economic Growth and Development, Stanford University

Press, Stanford.
 Barrell, R.G. Mason and M.O. Mahoney (2000), Productivity, Innovation and Economic
Performance, Cambridge University Press, Cambridge.
 Barrow, R. and X. Sela – I, Martin, Economic Growth, McGraw Hill, New York.
 Behrman, S.and T.N. Srinivasan (1995), Handbook of Development Economics, Vol.3,
Elsevier, Amsterdam.
 Bhagwati, J. and P. Desai (1970), India : Planning for Industrialization, Oxford University
Press, London.
 Brahmananda, P.R. and C.N. Vakil (1956), Planning for an Expanding Economy, Vcra and
Co., Bombay.
 Brown, M. (1966), On the Theory and Measurement of Technical Change , Cambridge
University Press, Cambridge, Mass.
 Campbell, N. and F. Burton (Eds.) (1994), Japanese Multinationals, Routledge, New York.
 Chakravarati, S. (1987), Development Planning : The Indian Experience, Clarendon Press,
Oxford.
 Chakravarti, S. (1982), Alternative Approaches to the Theory of Economic Growth, Oxford
University Press, New Delhi.
 Chenery, H. and T.N. Srinivasan (Eds.) (1989), Handbook of Development Economics, Vols.
1& 2, Elsevier, Amsterdam.
 Chenery, H.B.et.al. (Eds.) (1974), Redistribution with Growth, Oxford university Press,
Oxford.
 Dasgupta, P. (1993), An Enquiry into Well-being and Destitution, Clarendon Press, Oxford.
 Dasgupta, P., A.K. Sen and S. Marglin (1972), Guidelines for Project Evaluation, UNIDO,
Vienna.
 Ghatak, S. (1986), An Introduction to Development Economics, Allen and Unwin, London.
 Gillis, M., D.H. Perkins, M.Romer and D.R. Snodgrass (1992), Economics of Development,
(3rd Edition), W.W. Norton, New York.
 Gimmell, N. (1987), Surveys in Development Economics, Blackwell, Oxford.
 Grossman, G. and E. Helpman (1991), Innovation and Growth in the Global Economy, MIT
Press , Cambridge, Mass.
 Gupta, S.B. (1988), Monetary Economics : Institutions, Theory and Policy, S. Chand and Co.,
New Delhi.
 Hayami, Y. (1997), Development Economics, Oxford University Press, New York.
 Hayami, Y. and M. Akoi (Eds.) (1998), The Institutional Foundations of East Asian
Economic Development, Macmillan, London.
 Higgins, B. (1959), Economic Development, W.W.Norton, New York.
 Hirsch, A.O. (1958), The Strategy of Economic Development, Yale University Press, New
York.
 Hogendorn, J. (1996), Economic Development, Addison, Wesley, New York.
 Jadhav, N. (1995), Monetary Economics for India, Macmillan, New Delhi.
 Kahkonon, S. and M. Olson (2000), A New Institutional Approach to Economic
Development, Vistaar.
 Killick, T. (1995), IMF Programmes in M Developing Countries : Design and Impact,
Routledge, London.
 Kindleberger, C.P.(1977), Economic Development, (3rd Edition), McGraw Hill, New York.
 Kuznets, Simon (1971), Economic Growth of Nations, Total Output and Production Structure,
Harvard University Press, Cambridge, Mass.
 Lewis, W.A. (1955), The Theory of Economic Growth, George Allen and Unwin, London.
 Little, I.M.D. (1982), Economic Development : Theory and International Relations, Basic
Books, New York.
 Mason, M. (1992), American Multinationals and Japan, Harvard University Press,
Cambridge, Mass.
 Meadows, D.H. et. al. (1972), The Limits to Growth, Universe Books, New York.
 Mehrotra, S. and J. Richard (1998), Development with a Human Face, Oxford University
Press, New Delhi.
 Meier, G.M. (1995), Leading Issues in Economic Development, (6th Edition), Oxford
University Press, New Delhi.
 Meier, G.M. and D. Seers (Eds.)(1987), Pioneers in Development, Oxford University Press,
New York.
 Mishan, E.J. (1975), Cost-Benefit Analysis, (2nd Edition), Allen and Unwin, London.
 Myint, H. (1971), Economic Theory and Underdevelopment Countries, Oxford University
Press, New York.
 Myint, Hla (1965), The Economics Of Underdevelopment Countries, Preager , New York.
 Myrdal, G. (1957), Economic Theory and Underdeveloped Regions, Duckworth, London.
 Nayyar, D. (Ed) (1994), Industrial Growth and Stagnation, The Debate in India, Oxford
University Press, New Delhi.
 Ranis, G. and A. Mahmood (1992), Political Economy for Development, Blackwell,
Cambridge Mass.
 Schumpeter, J.A. (1949), The Theory of Economic Development, Harvard University Press,
Cambridge, Mass.
 Sclow, R.M. (2000), Growth Theory : An Exposition, Oxford University Press, Oxford.
 Sen, A : (1992), Inequality Reexamined, Oxford University Press , Oxford.
 Sen, A.K. (Ed.)(1990), Growth Economics , Penguin, Harmondsworth.
 Taylor, L. (1979), Macro Models for Developing Countries, McGraw Hill, New York.
 Therberge, J.D. (Ed.) (1968), Economics of Trade and Development, John Wiley , New York.
 Thirlwal, A.P. (1974), Inflation, Saving and growth in Developing Economies, Macmillan,
London.
 Thirwal, A.P. (1999), (6th Edition), Growth and Development, Macmillan, U.K.
 Todaro, M.P. (1971), Development Planning : Models and Methods, Oxford University Press,
Oxford.
 Todaro, M.P. (1971), Development Planning : Models and Methods, Oxford University Press,
Oxford.
 Todaro, M.P. (1996), (6th Edition), Economic Development, Longman, London.
 Todaro, M.P.(1971), Development Planning : Models and Methods, Oxford University Press,
Oxford.
 United Nations (1994), Human Development Report, United Nations, New York.
 Weiss, J. (1988), Industry in Developing Countries, Croom Helm, London.
 World Bank (1993), East Asian Miracle, World Bank Report, Washington D.C.
 World Bank (1994), Infrastructure and Development, World Bank, Washington D.C.
 MACROECONOMICS – I

Sr. Topic and Details

No.
1 Macroeconomic variables:

GDP-GNP-NNP- Potential output-Actual Output-Okun’s Law-Price Indices-Real income-

Nominal income- Per capita income-Disposable income –Some key identities-National income
accounts-Flow of funds accounts

2 Income Determination:

Macro economic equilibrium-Simple Keynesian Model- - IS-LM Analysis-Impact of fiscal and

monetary policies-Aggregate supply and Aggregate demand model

3 Consumption Function and Investment Function:

Absolute income hypothesis-Relative income hypothesis –Permanent income hypothesis -Life

Cycle hypothesis- Neo-classical and Keynesian approaches-MEC-Accelerator-Multiplier

4 Demand for Money:

Cambridge approach-Keynesian approach-Friedman’s approach-Tobin’s portfolio approach-

Tobin and Baumol’s approach to transactions demand for money-Patinkin’s real balance
approach

5 Supply of money:

Constituents of money supply-High-powered money-Money multiplier-RBI approach to supply

of money

MACROECONOMICS – II

Sr. Topic and Details

No.

1 Rate of interest:

Real and nominal rate of interest- Theories of interest rates –Classical- Neo-classical-Lonable
Funds and liquidity Preference

2 Macroeconomics in Open economy:

Balance of payments-Exchange rates regime-Mundell-Fleming model under fixed and flexible

exchange rates- Exchange rates overshooting-Purchasing power and interest rate parities

3 Inflation: Classical, Keynesian and monetarist approaches to inflation-Structuralist approach

to inflation-Philips’ curve analysis-Short run and long run Philips curve-Natural rate of
unemployment-Tobin’s modified Philips’ curve-Policies to control inflation
 4 Business cycles: Theories of Schumpeter-Kaldor-Samuelson and Hicks-Goodwin’s Model-
Control of business cycles-Relative efficacy of monetary and fiscal policies

5 Macroeconomic policy Issues: Lags in the effects of policy, Automatic stabilizers, Targets,
Indicators and instruments- Activist Policy- Gradualism versus shock therapy-Rules versus
discretion- Role of Cerdibility- Dynamic Inconsistency Problem – Inflation targeting

References:

 Ackley, G. (1978); Macroeconomics : Theory and Policy , Macmillan, New York.

 Blackhouse, R. and A. Salansi (Eds.)(2000), Macroeconomics and the Real World (2Vols.),
Oxford University Press, London.
 Branson, W.A. (1989), Macroeconomics Theory and Policy, (3rd Edition), Harper and Row,
New York.
 Chakravarty, S.C. (1985), Report of the Committee to Review the Working of the Monetary
System, Reserve Bank of India, Bombay.
 Culberston, J.M. (1958), Macroeconomic Theory and Stabilization Policy, McGraw Hill,
Kogenkosh, Tokyo.
 D”Souza, Errol: (2008); Macroeconmics; Pearson Education; Delhi.
 Dornbusch, R. and F. Stanley (1997), Macroeconomics, McGraw Hill. Inc., New York.
 Dornbusch, Rudiger. and Stanley Fischer and Startz Richard (2004). Macroeconomics, Tata
McGraw-Hill (Chapter no 8)
 Duesenberry , J.S.(1949), Income, Saving and the Theory of Consumer Behaviour, Harvard
University Press, Harvard.
 Edey, M.and A.T. Peacock ( 1967), National Income and Social Accounts, Hutchinson
University Library, London .
 Friedman, M. (1956), Studies in the Quantity Theory of Money, The University of Chicago
Press, Chicago.
 Friedman, M.(1957), The Theory of Consumption Function, Pinceton University Press,
Princeton.
 Frisch, H. (1983), Theories of Inflation, Cambridge University Press, Cambridge.
 Gordon, R. and S.G. Harris (1998), Macroeconomics, Addison Wesley.
 Gordon, R.A. (1961), Business Fluctuations, Harper and Row.

 Gordon, R.A. and L.R. Klein (Eds.) (1965), Readings in Business Cycles, Irwin, Homewood.
 Gupta, S.B. (1995), Monetary Planning in India, Oxford University Press, New Delhi.
 Gurley, J. and E.S. Shaw (1960), Money in a Theory of Finance, Brooking Institution,
Washington .
 Hagger, A.J. (1977) , Inflation : Theory and Policy, Macmillan , London.
 Hall, R.E. and J.B. Taylor (1986). Macroeconomics, W.W. Norton, New York.
 Heijdra, B.J. and V.P. Fredericck (2001), Foundations of Modern Macroeconomics, Oxford
University Press, New Delhi.
 Hicks, J.R. (1950), A Contribution to the Theory of Trade Cycles, Clarendon Press, Oxford.
 Hicks, J.R.(1974), The Crisis in Keynesian Economics, Oxford University Press, New Delhi.
 Hudson, J.(1982), Inflation : A Theoretical Survey and Synthesis, George Allen and Unwin,
London.
 Jha, R. (1991), Contemporary Macroeconomic Theory and policy, Wiley Eastern Ltd., New
Delhi.
 Jha, R. (1999), Contemporary Macroeconomic Theory and Policy, New Age International (P)
Ltd., New Delhi.
 Keynes, J.M. (1936), The General Theory of Employment , Interest and Money, Macmillan
London.
 Laidler, D.E.W. (1977), Demand for Money: Theory and Evidence, Dum-Don Valley, New
York.
 Leijonhufvud, A. (1968), On Keynesian Economics and Economics of Keynes, Oxford
University Press, London.
 Levacic, R. and A. Rebman (1986), Macroeconomics : An Introduction to Keynesian and Neo-
classical Controversies, Macmillan , London.
 Lucas, R. (1981), Studies in Business Cycle Theory, M.I.T. Press, Cambridge Masscechusetts.
 Mankiw , N.G. and D. Romer (Eds.) (1991), New Keynesian Economics, (2 Vols.) , MIT Press
Cambridge.
 Mckinen, G.E. (1978), Money, The Price Level and Interest Rates, Prentice Hall of India, New
Delhi.
 Mueller, M.G. (1966), Readings in Macroeconomics, Holt Rinehart and Winston, New York.
 Patinkin, D. (1965), Money, Interest and Prices, Harper and Row, New York.
 Powelson, J.P. ( 1960), National Income And Flow of Funds Analysis, McGraw Hill, New York.
 Rakshit, M.(1998), Studies in the Macroeconomics of Developing countries, Oxford
University Press, New Delhi.
 Rao, V.K.R.V. (1983), India’s National Income : 1950 to 1980, Sage Publications, New Delhi.
 Reddy, Y.V. (2000), A Review of Monetary and Financial Sector reforms in India- A Central
Banker’s Perspective, UBSPD, New Delhi.
 Romer, D.L.(1996) Advanced Macroeconomics, McGraw Hill Company Ltd., New York.
 Ruggles, R. and N. Ruggles(1956) , National Income Accounts and Income Analysis , McGraw
Hill, New York.
 Scrafe B.L. (1977), Cycles, Growth and Inflation, McGraw Hill, New York.
 Shapiro, E. (1996), Macroeconomic Analysis, Galgotia Publication, New Delhi.
 Sheffrin, S.M. (1996), Rational Expectations, Cambridge University Press, Cambridge.

 Surrey , M.J.C. (Ed.) (1976), Macroeconomic Themes, Oxford University Press, Oxford.
 Taylor, L.(1983), Structuralist macroeconomics, Basic Books, New Longman.
 Turnovsky, S.J.(1977), Macroeconomic Analysis and Stabilization Policy, Cambridge
University Press, Cambridge.
 United Nations (1974), Year Book of National Account Statistics.
 INDIAN ECONOMY- I

Sr. Topic and Details

No.
1. Recent Trends in Important Macro Economic Variables:

Population – GDP – SDP – Tax Revenue – Inflation – Regional Variations, Sectoral

Composition of GDP – Regional Variations

2. Demographic features:

Age composition-Sex ratio-Population policy – Literacy – Sectoral pattern of employment

3. Agricultural Sector:

Land holding pattern – Land Reforms – Crop Pattern – Agricultural Labour – Technological
change in agriculture – Agricultural cost and prices commission – impact of reforms.

4. Industrial Sector:

Industrial Policy – Private and public sector –Small scale industries – Disinvestment –
Industrial growth.

INDIAN ECONOMY II

Sr. Topic and Details

No.

1. Public Finance:

Trends in revenue and expenditure – Centre-State financial relations – Recommendations of

Finance Commissions – Fiscal Sector Reforms

2. Infrastructure:

Physical Infrastructure –Transport – Energy – Telecommunication – Public Utilities – Water,

Electricity, Gas; Social Infrastructure – Health, Education, Social sectors.

3. Money, Banking and Prices:

Analysis of price behavior – Review of monetary policy in post reform period – reforms in
banking sector – SEBI

4. External Sector:

Structure and direction of foreign trade – Foreign Direct Investment – Balance of Payments –
Export-Import policy – Trade Reforms.

5. Labour in Informal Sector:

Trends in employment in informal sector – Agricultural Labour – Women Workers – Child

Labour – Bonded Labour – Migrants.
 References:

 Ahluwalia I.J. and I.M.D. Little (Eds.) (1999), India’s Economic Reforms and Development
(Essays in honour of Manmohan Singh), Oxford University Press , New Delhi.
 Ahluwalia, I.J. (1985), Industrial Growth in India, Oxford university Press, New Delhi.
 Bardhan, P.K. (9th Edition) (1999), The Political Economy of Development in India, Oxford
University Press , New Delhi.
 Bhagwati, J.N. and P. Desai (1970), India : Planning for Industrialization, Oxford University
Press, London.
 Bhole, L.M. (2000), Indian Financial System, Chugh Publications, Allahabad.
 Brahmananda, P.R. and V.R. Panchmukhi (Eds.) (2001), Development Experienece in the
Indian Economy ; Intert-State Perspectives, Bookwell, Delhi.
 Chakravarty, S.(1987), Development Planning : The Indian Experience, Oxford University
Press, New Delhi.
 Chelliah, Raja J. (1996), Towards Sustainable Growth – Essays in Fiscal and Financial Sector
Reforms in India, Oxford university Press, New Delhi.
 Dandekar, V.M. (1996), The Indian Economy 1947-92, Vol . II, Sage publications, New
Delhi.
 Dantwala, M.L. (1996), Dilemmas of Growth : The Indian Experience, Sage Publications,
New Delhi.
 Datt, R. (ED) (2001), Second Generation Economic Reforms in India, Deep & Deep
Publications, New Delhi.
 Datta, B. (1978), Economics of Industrialization, The Bookland, Calcutta.
 Dutt, R. and Sunderam (2008) Indian Economy, Chand Publishers, New Delhi
 Government of India , Economic Survey, (Annual), Minstry of Finance , New Delhi.
 Hanumantha Rao, C.H. and H. Linnemann (Eds.) (1996), Economic Reforms and Poverty
Alleviation in India, Sage Publications, New Delhi.
 Haq, M. (1996), Reflections on Human Development, Oxford University Press , New Delhi.
 Jain, A.K. (1986), Economic Planning in India, Ashish Publishing House, New Delhi.
 Jalan , B. (1992), The Indian Economy – Problems and Prospects , Viking, New Delhi.
 Jalan, B. (1996), India’s Economic Policy – Preparing for the Twenty First Century, Viking,
New Delhi.
 Joshi P.C. (1975), Land Reforms in India, Allied Publishers Pvt. Ltd., New Delhi
 Joshi, V. and I.M.D. Little (1999), India : Macro Economics and Political Economy , 1964-
1991, Oxford University Press, New Delhi.
 Mishra, S.K and Puri, V. K. (2008) Indian Economy, Himalaya Publishing House, Mumbai
 Mookherjee, D.(Ed.) (1997), Indian Industry : Policies and Performance, Oxford University
Press, New Delhi.
 Narain, D. (1988), Studies on Indian Agriculture, Oxford University Press, New Delhi.
 Parikh, K.S. (1999) , India Development report – 1999-2000, Oxford University Press New
Delhi.
 Rangarajan, C.(1998), Indian Economy : Essays on Money and Finance, UBS, New Delhi.
 Reserve Bank of India , Report on Currency and Finance, (Annual).
 Reserve Bank of India, Report on Currency and Finance (Annual).
 Sandesara, J.C. (1992), Industrial Policy and Planning , 1947-1991 ; Tendencies,
Interpretations and Issues, Sage Publications, New Delhi.
 Sen, R.K. and B.Chatterjee (2001), Indian Economy ; Agenda for 21st Century (Essays in
honour of Prof . P.R. Brahmananda ), Deep & Deep Publications, New Delhi.
 Subramanian, S. (Ed.) (1997), Measurement of Inequality and Poverty, Oxford University
Press, Calcutta.
 Thirlwall, A.P. (1994), Growth and Development, ELBS, Macmillan Press, London
 Thirwall, A.P. (1997), Economic Development in the Third World, Addison-Wesley,
England.
 Tilak, J.B.C. (1993), Costs and Financing of Education in India : A Review of Issues ,
Problems and prospects (Mimeo), National Institute of Educational planning and
Administration , New Delhi.
 United Nations Development Programme, (several years), Human Development Report,
Oxford University Press , New Delhi.
 INDUSTRIAL ECONOMICS - I

Sr. Topic and Details

No.

1. Introduction:

Nature and scope of industrial economics – Introduction to concepts : plant, firm, business house,
industrial sector and industrial structure

2.
Theory of Firm:
Organisational structure of a firm – Objectives of firms – Theories of growth of firms –
Determinants of size and profitability - Types of costs: U-shaped and L-shaped – Cost curves –
Depreciation – Price fixation – Administered prices.

3.
Investment Decisions:

Methods of evaluating investment expenditure – Social Cost Benefit Analysis – Balancing

private and social returns – Assessment of financial soundness – Ratio analysis.
4. Industrial Organisation:

Concepts and determinants of market structure, market conduct and market performance –
Interrelationships among structure, conduct and performance – Factors affecting location and
theories of location.

INDUSTRIAL ECONOMICS – II

Sr. Topic and Details

No.

1.
Industrial Policy and Growth:
a. Overview of industrial policy prior to 1991-Industrial policy resolution of 1991 and
changes thereafter
b. Overview of industrial development prior to 1991-Trends and pattern in industrial
growth in post 1991 period
c. Industrial sickness-Exit policy –Role of BIFR
d. Industrial concentration and remedial measures
e. Productivity and Capacity Utilisation.

2.
Industrial Finance:
Nature and types of industrial finance, sources of institutional finance , Commercial Banks,
Trends in institutional finance for industrial sector.

3.
Private and Public Sectors and Regional Development:
 Role, Performance and Problems of Private and Public Sectors – Privatization and
Disinvestment.

Role of industrial policy for regional development-Trends and pattern of regional development.

4.
Impact of Globalisation:
Trends and pattern of FDI in India-Trends and pattern of Indian industry abroad-M&A- Export
and import component of Indian industrial sector.

5.
Problems and Prospects of Selected Industries:
Iron and Steel - Cotton textiles- Jute- Sugar – Coal - Cement and engineering goods; Small-scale
and cottage industries in India IT industry.

References:

 Bagchi, A.and M. Banerjee (Eds.) (1979), Change and Choice in Indian Industry, Bagchi
publications, Calcutta.
 Bain, J.S. (1996), Industrial Organization, Cheltanham, U.K.
o Barthwal, R.R. (1985), Industrial Economics, Wiley Eastern Ltd. , New Delhi
 Bhagwati J. and P. Desai (1972), India : Planning for Industrialization, Oxford University
Press, London.
 Brahmananda, P.R. and V.R. Panchamukhi (Eds.) (1987), The Development Process of the
Indian Economy, Himalaya Publishing House, Bombay.
 Chakravarty, S. (1987), Development Planning : The Indian Experience, Oxford University
Press, New Delhi.
 Cherunilam, F. (1994), Industrial Economics : Indian Perspective, Himalaya Publishing
House, Mumbai

 Das, N. (1969), The Public Sector in India, Vora and Company, Bombay.
 Dasgupta, P.S. Marglin and A. Sen (1972), Guideline for Project Evaluation, Unido
Publications, New York.
 Datta, B. (1992), Indian Planning at the Crossroads, Oxford University Press, New Delhi.
 Dhameeja, N. and K.S. Sastry (1998), Privatization : Theory and Pratice, A.H. Wheeler, New
Delhi.
 Fog, B. (1959), Industrial Pricing Policies, North Holland, Amsterdam.
o Gadgil
 Ghosh, P.K. (1977), Government and Industry, Oxford University Press, New Delhi.
 Gupta, L.C. (1996), The Changing Structure of Industrial Finance in India, Oxford University
Press, New Delhi.
o Hay, D. and Morris, D.J. (1979), Industrial Economics : Theory and Evidence, OUP,
New Delhi
 Jalan, B. (1996), India’s Economic Policy, Viking, New Delhi
 Joshi, V. and I.M.D. Little (1999), India : Macro Economics and Political Economy : 1964-
1991, Oxford University Press, New Delhi.
 Kamien, M.T. and N.L. Schwartz (1982), Market Structure and Innovation, Cambridge
University Press, Cambridge.
 Kelkar,V.L. and Rao,Bhanoji V.V.(eds), (1996), India development Policy Imperatives, Tata
McGraw Hill, New Delhi
 Khan, M.Y. (1981), Indian Financial Systems, Allied Publishers, New Delhi.
 Koutsoyiannis, A. (1979), Modern Microeconomics, Macmillan, New York.

 Mamoria and Mamoria (2000), Dynamics of Industrial Relations in India (15th Edition)
Himalaya Publishing House, Mumbai.
 Martin, S. (1989), Industrial Economics – Economic Analysis and Public Policy, Macmillan
Publishing Co. New York.
o Pandey, I.M. ( ), Financial Management,
 Rama Murti, R. and R. Verman (Eds.) (1991), Privatization and Control of State-owned
Enterprises, The World Bank, Washington.
o RBI, Report on Currency and Finance (Annual reports)
 Sandesara, J.C. (1992), Industrial policy and Planning- 1947-1991 : Tendencies,
Interpretations and Issues, Sage Publications, India Pvt. Ltd., New Delhi.
 Sandesara, J.C.(1982), Industrial Growth in India ; Performance and Prospects, Lala Lajpat
Rai College, Bombay.
 Sen, R. and B. Chatterjee (2001), Indian Economy : Agenda for the 21st Century (Essays in
honour of professor P.R. Brahmananda), Deep and Deep Publications Pvt. Ltd., New Delhi.
 LABOUR ECONOMICS – I

Sr. Topic and details

No.

1. Supply of Labour:

Concept of labour force and workforce-Determinants of labour force participation-Quality of

labour-Concept of human capital-Supply of skilled and unskilled labour-Migration-types-
causes-implications

2. Demand for Labour:

Factors influencing internal demand for labour-Short run and long run-Impact of technological
change-International demand for labour-outsourcing

3. Labour Market:

Characteristics of labour in a developing economy-Paradigms of labour market analysis-

classical-neo-classical-segmented-Methods of recruitment and placement-Employment service
organization in India

4. Employment-Unemployment:

Relationship between employment and development-Employment and unemployment-concepts-

types- measurement-trends-remedial measures

5. Wages:

Theories of wage determination-Concepts of wages-minimum-fair-living-Minimum Wages Act-

Provisions and Implementation-Wage Differentials-Bonus-Profit sharing schemes-Wage
Boards-Productivity

LABOUR ECONOMICS – II

Sr. Topic and details

No.

1. Trade Unions:

Theories of labour movement-Emergence and growth of trade unions in India-Achievements-

problems-weaknesses-Challenges before trade union movement

2. Industrial Relations:

Industrial Disputes-Types-Causes-Trends-Prevention and settlement of industrial disputes-

Tripartism-Labour participation in management-Collective bargaining

3. Social security:

Social security-Concept-evolution-Social security system in India-review-appraisal-new

 developments

4. Labour Commissions:

Review of labour commissions-Second National Commission on Labour-Terms of reference-

context-major recommendations

5. Special sections of workers:

Women workers-child labour-agricultural workers-bonded labour-Extent- Urban informal

workers-trends-wages-conditions of work-remedial measures

6. International Issues:

International Labour Organization (ILO)-structure-objectives-functions-International labour

standards-India and ILO-Globalisation and Labour

References:

 Binswanger H.P. and M.R. Rosenzweig (Eds.) (1984), Contractual Arrangements,

Employment, and Wages in Rural Labor Markets in Asia, Yale University Press, New Haven.
 Breman, J. (1996), Footloose Labour : Working in India’s Informal Economy, Cambridge
University Press, Cambridge.

 Das, N. (1960), Unemployment , Full Employment and India, Asia Publishing House,
Bombay.
 Datt, G. (1996), Bargaining Power, Wages and Employment : An Analysis of Agricultural
Labour Markets in India, Sage Publication, new Delhi.
 Deshpande L.K. and J.C. Sandesara, (Eds.) (1970), Wage Policy and Wages Determination in
India, Bombay University Press, Bombay.
 Deshpande, L.K., P.R. Brahmananda, E.A.G. Robinson, (Eds.)(1983), Employment Policy in
a Developing Economy, Vol.I & II Macmillan, London.
 Deshpande, S., G. Standing, and L.K. Deshpande, (1998), Labour Flexibility in a Third World
Metropolis, Commonwealth Publishers, New Delhi.

 Foster, A.D., and M.R. Rosenberg, (1993), Informatioin Flows and Discrimination in Labour
Markets in Rural Areas in Developing Countries, Annual Conference on Development
Economics, Work Bank, Washington D.C.
 Hajela, P.D. (1998), Labour Restructuring in India : A Critique of the New Economic
Policies, Commonwealth Publishers, New Delhi.
 Hicks, J.R. (1932), The Theory of Wages, Clarendon Press, Oxford.
 Jhabvala, R. and R.K. Subrahmanya (Eds.) (2000). The Unorganised Sector : Work Security
and Social Protection, Sage Publications, New Delhi.
 Kannapon S. (1983), Employment Problems and Urban Lobour Markets in Developing
Countries, University of Michigan, Ann Arbor.
 Lester, R.A. (1964), Economics of Labour, (2nd Edition), Macmillan, New York.
 Madan, B.K. (1977), The Real Wages of Industrial Wrokers in India, Management
Development Institute, New Delhi.
 Mazumdar, D. (1989), Micra-economic Issues of Labour Markets in Developing Countries
EDI Services Paper No 40, World Bank, Washington D.C.
 McConnell, C.R. and S.L. Brue (1986) , Contemporary Labour Economics, McGraw-Hill,
New York.
 McCormick, B. and Smith (Eds.) (1968), The Labour Market, Penguin, Harmondsworh.
 MHRD, GOI (1987), Shram Shakti : Report of the National Commission on Self-employed
Women and Women Workers in the Informal Sector, Ministry of Human Resources
Development, New Delhi.
 Misra, L. (2000), Child Labour in India, Oxford University Press, New Delhi.
 Papola, T.S. and Rodgers, G. (Eds) (1992), Labour Institutions and Economic Development
in India, International Institute for Labour Studies, Geneva.
 Papola, T.S. and Sharma, A.N. (Eds.) (1999), Gender and Employment in India, Vikas
Publishing House, New Delhi.
 Papola, T.S., P.P. Ghosh and A.N. Sharma (Eds.) (1993), Labour, employment and Industrial
Relations in India , B.R. Publishing Corporation, New Delhi.
 Punekar, S.D. (1978), Labour Welfare, Trade Unionism and Industrial Relations, Himalaya
Publishing House, Bombay.
 Rees, A. (1973), Economics of Work and Pay, Harper and Row, New York.
 Rosehberg M.R. (1988), Labour Markets in Low Income Countries in Chenery, H.B. and T.N.
Srinivasan, (Eds.), The Handbook of Development Economics, North-Holland, New York.
 Sen, A.K. (1975), Employment, Technology, and Development, Oxford University Press,
New Delhi.
 Sharma, A.N. and A. Kundu (Ed.) (2001), Informal Sector in India : Emerging Perspectives
Institute for Human Development, New Delhi.
 Singh, V.B. (ED.) (1970), Industrial Labour in India, Popular Prakashan, Bomaby.
 Solow, R.M. (1990), Labour Market as an Institution, Blackwell, London.
 Venkata Ratnam, C.S. (2001), Globalization and Labour-Management Relations : Dynamics
of Change, Sage Publication/ Response Books, New Delhi.
 MATHEMATICAL ECONOMICS - I

Sr. Topic and Details

No.

1. Demand analysis:

Ordinal utility maximization, Order conditions, nature of utility functions, ordinary and
compensated demand functions, Rate of commodity substitution, Slutsky equation, cross
effects, substitution and complements, Optimal quantity combination extended to ‘N’
number of goods, Weak and strong axioms of revealed preference and substitution effects,
problems of choice involving risk, attitude towards risk, risk and insurance.

2. Theory of production:

Production functions, homogeneous and non-homogeneous, properties if Cobb-Douglas

production function, CES production function, Elastic city of substitution, Linear production
function, Derivation of short-run and long-run cost functions, constrained output
maximization, cost minimization and profit maximization, equilibrium under joint product
and constrained profit maximization with illustrations, Generalization to ‘N’ variables.
Euler’s theorem.

3. Market equilibrium:

Price determination of the firm and industry in short run and shut down point with
illustrations, Equilibrium under taxation, Equilibrium under simple monopoly, monopoly
equilibrium after lump sum tax and specific taxes levied, Equilibrium under price
discrimination with illustrations, Equilibrium under multiple plant monopolists.

4. Oligopoly and duopoly:

Equilibrium under homogeneous product: Cournot solution and Stackelberg solution with
illustrations, Differentiated oligopoly under market-sharing and kinked demand curve
models, equilibrium under price leadership with problems illustrated, and the Nash
bargaining solution under game theoretic solution.

5. Multi-market equilibrium and Welfare economics:

Equilibrium of the ith consumer, two commodity exchange using Edgeworth box, production
and exchange: equilibrium of ith consumer and ith firm, Walras law and multi-market
equilibrium, marginal conditions of Pareto optimality, the efficiency of perfect competition,
imperfect competition in product and factor markets,
 MATHEMATICAL ECONOMICS - II

Sr. Topic and Details

No.

1. Differentiation and partial differentiation:

Concept and different types of functions, Rules of derivatives for one variable case,
logarithmic and exponential functions, interpretation of revenue, cost, demand and supply
functions, elasticity and its types with illustrations, maxima and minima for one and several
variables, profit maximization conditions of the firm under competitive conditions and
monopoly, establishing the relationship among cost curves mathematically using derivatives
with illustrations. Partial derivatives: Rules of partial and total differentiation, constrained
optimization behavior of the firm and consumer using illustrations, Effects of taxation and
subsidy on equilibrium price, quantity and output with illustrations.

2. Integral calculus:

Techniques of definite and indefinite integration, consumer’s surplus and producer’s surplus
with illustrations using definite integrals Lorenz curve inequalities and Gini coefficients with
illustrations, consumption functions, investment functions, cost functions obtained using
integration, Area between two curves, applications to compute present value, discount value,
compound interest.

3. Differential equations and applications:

Kinds of differential equations and their solutions, solution of differential equations of first
order and first degree, linear differential equations of first order and second order, Applications
of differential equation to multiplier, Harrod-Domar growth model and Neo-classical growth
model of Solow.

4. Matrix Algebra:

Rules for addition, subtraction and multiplication of matrices, types of matrices, Rank of
matrix, transpose of a matrix and its properties. Determinants: properties, evaluation by using
properties, inverse of matrix, Gauss elimination and co-factor methods, applications to solve
linear equations, Cramer’s rule and its applications to solve equations.

5. Income determination:

Determination of national income under simple Keynesian model, consumption and investment
functions, Static and dynamic multiplier, illustrations on income determination, Income
determination under IS and LM model with illustrations, the derivation of IS and LM curves,
Samuelson’s multiplier-accelerator interaction model.

References:

 Allen, R.G. D. (1976), Mathematical Economics, Macmillan, London.

 Arrow, K. J. and M. Intrilligator (Eds)(1982), handbook of Mathematical Economics,
Vol. I,II and III, North Holland, Amsterdam.
 Baumol, W. J. (1984), Economic Theory and Operation Analysis, Prentice Hall,
Englewood Cliffs, New Jessey.
 Chiang, A.C. (1986) Fundamental Methods of Mathematical Economics, McGraw Hill,
New York.
 Henderson, J.M. and R.E. Quandt (1980), Microeconomic Theory: A Mathematical
Approach, McGraw Hill, New Delhi.
 Mehta and Mednani, “Mathematics for Economist, Sultan Chand & Sons, New Delhi
 Monga S.S. (1972), Mathematics and Statistics for Economists, Vikas Publishing House,
New Delhi.
 Patra, S.C. (2008), Mathematical Techniques for Economic Analysis, Himalaya
Publishing House, Mumbai.
 Vygodsky, G.S. (1971), Mathematical Handbook, Mir Publishers, Moscow.
 Yamne, Taro (1975), Mathematics for Economist, prentice Hall of India, New Delhi.
 ECONOMETRICS - I

Sr. Topic and Details

No.

1. Two variable Linear Regression model:

Concepts of population and Sample Regression functions, Assumptions of the method of

least squares, OLS estimators of regression coefficients, properties, mean and variance of
coefficients and the random term, Properties of BLUE and Gauss-Markov theorem,
coefficient of determination.

2. Classical Linear Regression model:

The probability distribution of stochastic term Ui, its normality distribution, Method of
maximum likelihood method, ML method of estimation of two variable regression model,
Interval estimation and confidence interval for the least square estimators, testing the
regression coefficients using t-test, Z-test, ANOVA and F-test and Standard error tests.

3. Multiple regression analysis:

Three variable linear regression models. OLS and ML estimation of partial regression
coefficients, properties, and variance of OLS estimation, R2 and adjusted R2, Multiple and
partial correlation coefficients, ANOVA for multi variable regression model.

4. Multi-collinearity:

The concept of multi-collinearity, perfect and imperfect collinearity, consequences and

detection of multi-collinearity and illustrative examples.

5. Hetero-scedasticity and Auto-correlation:

Nature of Hetero-scedasticity, OLS estimation in the presence of Hetero-scedasticity, Method

of OLS and Generalized least squares (OLS and GLS), consequences of using OLS in the
presence of Hetero-scedasticity, determination of Hetero-scedasticity. Auto-correlation;
Nature of the problem of Auto-correlation, OLs estimation, BLUE estimator, consequences,
detecting Auto-correlation by using graphic method and Durbin-Watson tests, General test of
Auto-correlation (GB).

ECONOMETRICS –II

Sr. Topic and Details

No.

1. Linear Programming and Transportation Problems:

Formulation of LPP of Minimization and maximization types, Generalization of LPP, Graphical

solution to LPP of Minimization and maximization with and without mixed constraints, special
 cases involving multiple solutions, unboundedness, infeasibility, the concept of degeneracy.
Simplex method for solving of minimization and maximization, use of Big-M method for
problems involving minimization, Duality in LPP, symmetry between primal and dual with
mixed constraints, comparing the optimal solution of primal and dual problems, economic
interpretation of dual, problem with unutilized resources, sensitivity analysis. Transportation
problem: Statement of the problem, solution of transportation problem by simplex method,
North-West corner rule, least cost method, VAM method.

2. Input-out analysis:

Open and closed input-output analyses, technology coefficient matrix for ‘n’ sectors and
determination of equilibrium level of output by the inter-consistency model, the Hawkin-
Simon conditions, Illustrative problems for two and three sector model with equilibrium price
determination and value added method, coefficient matrix for closed model and dynamic
input-output model.

3. Game theory:

Two person zero-sum game, pure and mixed strategy, game with and without saddle point,
Nash equilibrium, constant and non-constant games, Game theory and duopoly problems,
solution to games with mixed strategy: the algebraic method and graphical solution to obtain
value of the game, illustrative examples, Solution of M x 2 and 2 x N games, solution of M x N
games by formulating it as a LPP and finding solution to this.

4. Probability and statistical methods:

Classical and empirical definition of probability, laws of addition and multiplication and
conditional probability, concept of random variable, probability and mass density functions,
mathematical expectations, properties and problems involving Binominal distribution and
normal distributions.

5. Testing of hypothesis:

Formulation of statistical hypothesis, Null and alternative hypothesis, Type-I and type II
errors, hypothesis testing for small and large samples, students-t- distribution, Z-test, Chi-
square test and standard error tests.

References:

 Allen, R.G. D. (1976), Mathematical Economics, Macmillan, London.

 Croxton, Crowden and Klein (1971), Applied General statistics, prentice Hall of India, New Delhi.
 Gujarati, D. N, Basic Econometrics, Tata McGraw-Hill Publishing Company Ltd, New Delhi.
 Gupta and Kapoor, “Mathematical statistics”, Sultan Chand & Sons, New Delhi.
 Hadley, G. (1962) Linear Programming, Addison Wesely Publishing Co. Massachusetts.
 Johnston, J (1991) Econometric Methods, McGraw-Hill Book Co. London.
 Kothari, C. R. (1992). An Introduction to Operation Research, Vikas Publishing House, New Delhi.
 Koutsoyiannis, Econometrics, Macmillan press, London
 Mahur, P.N. and R, Bharadwaj (Eds), (1976) Economic Analysis in Input-output research, Input-
output research Association of India, Pune.
 Mehta and Mednani, “Mathematics for Economist, Sultan Chand & Sons, New Delhi
 Miller, J (1996) Statistics for Advanced Level, Cambridge University Press, Cambridge.
 Nash, J. N. (1996), Essays on Game Theory, Cheltenham, UK.
 Patra, S.C. (2008), Mathematical Techniques for Economic Analysis, Himalaya Publishing House,
Mumbai.
 Richard I. Levin and David S. Rubin, “Statistics for Management” Pearson Prentice Hall, New
Delhi.
 Vygodsky, G.S. (1971), Mathematical Handbook, Mir Publishers, Moscow.
 DEMOGRAPHY – I

Sr. Topic and Details

No.

1. Introduction and Sources of Population data:

Meaning and Scope of Demography – Demography and other disciplines, Demographic data
base – Sources of Population data - Population Census – Vital Registration – Sample
Registration System and Large Scale Demographic Surveys – Contents and quality of
Demographic data with Special Reference to India (Census and NFHS).

2. Basic Concepts and Measures:

Universe and Variables – Rates and Ratios – Proportion – Person years and life exposure -
Simple, Compound and Exponential Growth Rates – Basic Demographic Equation.

3. Population Size and Growth:

Overview of the size and growth of world population - Regional Dimension – Indian Context -
Kerala Model.

4. Population Theories:

Malthus, Marx, Optimum Population, Demographic Transition - Economic Theories –

Leibenstein, Becker, Easternet – Population and Economic Development.

5. Population Process :

Basic Measures of Fertility – Period and Cohort Measures – Child Woman Ratio, Crude Birth
Rate, General Fertility Rate, Age Specific Fertility Rate, Total Fertility Rate, Gross
Reproduction Rate, Cohort Rates – Trends in Fertility in India,

Basic Measures of Mortality - Crude Death Rate, Age Specific Death Rate, Infant Mortality
Rates Life Tables, Standardization of Rates – Trends in Mortality and Infant mortality in India

Nuptiality Analysis – Crude Marriage Rate, General Marriage Rate, Age Specific Marriage
Rate, Mean Age at Marriage, Singulate Mean Age at Marriage – Indian Experience Population
Projections – Algebraic Method, Component Method – Population Projections in India.

DEMOGRAPHY – II

Sr. Topic and Details

No.

1 Population Structure and Characteristics: Population Composition by age and sex, Age
pyramids, Determinants of age and sex structure, Demographic effects of sex and age
structure, economic and social implications – Population Sex Ratios and its variation,
 Population ageing – Dependency load, India’s Population Structure and characteristics,
changing pattern of sex ratios in India – factors responsible for declining sex ratio.

2. Population Distribution and Urbanization: Geographic Distribution of the World

Population – Urbanization – Growth and distribution of rural and urban population in
developed and developing countries, level of urbanization and rate of urbanization –
Urbanization in India, components of urban growth - determents and consequences of
urbanization.

3. Migration: Concept and Measurement, Migration as economic Process – Models of

Migration –Lee, Saasjad and Todaro Migration in India.

4. Fertility and Mortality Experience in India: Trends in Fertility, Mortality and Infant
Mortality in India, Socio-economic and cultural determinants of Fertility, Mortality and Infant
Mortality – empirical evidence.

5. Population Policy in India: Evolution of Population Policies in India – The shift in

population control to family welfare, to women empowerment: Family Planning Strategies and
their outcomes : Reproductive Health, maternal nutrition and child health policies, population
and strategies for human development of different social groups: Social impact of new
reproductive technologies and their regulation – The New Population Policy, Tasks before the
National Population Commission.

References:

 Berklay G.W. Tecknical Population Analysis

 Bhende Asha, kanitkar Tara (2001). Principles of Population Studies, Himalaya Publishing
House.
 Birdsall N 1988 Economic Approaches to Population Growth and Development. In: Chenery
H B and Srinivasan T N (eds.) Handbook of Development Economics. Elsevier Science
Publications, Amsterdam
 Coale A.J. and E. M. Hoover
 Population 2007. New York. United Nations Population Fund.
 Shrrinivasan K.(1998) Basic Demographic techniques and Applications, Sage Publications.
 Simon, J. L (1992) . Population and Development in Poor countries, Princeton University
Press, Princeton
 Sivaramkrisnan K.C. kundu Amitabh and Sing N. A handbook on Urbanisation in India.
Oxford University Press
 Sryock, H et. Al (1973). The Methods and Materials of Demography, US Department of
Commerce, Wasihngton, D.C.
 UNFPA. 2007. Urbanization: The Challenge and the Promise. State of World
 United Nations 1973 The Determinants and Consequences of Population Trends. Department
of Economic and Social Affairs, Population Studies No. 50. 2 volumes. United Nations, New
York, NY
 Weeks John R. Population
 www.censusindia.net
 AGRICULTURAL ECONOMICS -I

Sr. Topic and Details

No.
1 Agriculture and Economic Development:
Nature and Scope of agriculture economics, Role of agriculture in economic development,
Interdependences between agriculture and Industry, Models of interaction between agriculture
and rest of the economy.
2 Agriculture Production and productivity:
Economics of agriculture production, Production function analysis in agriculture, Factor
combinations and resource substitutions, Cost and supply curve , Size of farms and laws of
returns- Theoretical and empirical findings, Farm budgeting and cost concepts, Supply response
of individual crops and aggregate supply, Technical changes in agriculture.
3 Land Reforms and Land Policy:
Land distribution- structure and trends; Land tenures and farming systems- Peasant, Capitalist.
Collective and state farming, Tenancy and crop sharing- Forms, incidence and effects; Land
reform measure and performance; Women and land reforms, Problems of marginal and small
farmers.

AGRICULTURAL ECONOMICS –II

Sr. Topic and Details

No.
1 Agriculture Finance:
Role of capital and rural credit; Organized and unorganized capital market; Saving and capital
formation; Characteristics and sources of agricultural credit- Institutional and non institutional,
Reorganization of agriculture credit- Co-operative, Commercial banks, Regional rural banks,
Role of NABARD.
2 Agricultural Prices:
Marketing and state policy; Regulated market, Marketed and marketable Surplus, Behavior of
agricultural prices- Cobweb Model, Taxation and crop insurance; Term of trade between
agriculture and non agriculture. Objectives of agricultural price policy- Instruments 15and
evaluation.

3 Agricultural Growth in India:

Recent trends in agricultural growth in India, Inter regional variations in growth of output and
productivity; Cropping pattern shifts, Role of public investment and capital formation in Indian
agriculture; Strategy of agricultural development and technological progress, Sustainable
agriculture- indigenous practices, Bio technological practices and growth potential.
4 Agriculture and External Sector:
International trade in agriculture commodities; Commodity agreements- Role of WTO, Issues
in liberalization of domestic and international trace in agriculture- Nature and features of agri-
business, Role of MNCs, Globalization of Indian economy and problems and prospects of
Indian agriculture.

References:

 Appu, P.S. (1996), Land Performs in India, Vikas, New Delhi.

 Bardhan, P. (1984), Land, Labour and Rural Poverty, Oxford University Press, New Delhi.
 Bhaduri, A. (1984), The Economic Structure of Backward Agriculture, Macmillan, Delhi.
 Bhalla, G.S. (1994), Economic Liberalisation and Indian Agriculture, Institute for Studies in
Industrial Development, New Delhi.
 Bhardwaj, K.(1974), Production Conditions is Indian Agriculture, Cambridge University
Press, Cambridge.
 Bilgrami, S.A.R. (1996), Agricultural Economics, Himalya Publishing House, Delhi.
 Brahmanada,P.R., B.K. Narayan and A. Kalappa (Ed.) (1987), Dimensions of Rural
Development in India, Himalaya Publishing House, New Delhi.
 Brahmananda, P.R. and V.R. Panchmukhi (Eds.) (1987), The Development Process of the
Indian Economy, Himalaya Publishing House, Bombay.
 Chadha , G.K. and A.N. Sharma (1997), Growth, Employment and Poverty : Change and
Continuity in Rural India, Vikas Publishing House, New Delhi.
 Chakravarty, S. (1987), Development Planning : The Indian Experience, Oxford University
Press, New Delhi.
 Chaudhary, P. (1972), Readings in Indian Agricultural Development, George Allen & Unwin,
London.
 Chelliah, Raja J. and R. Sudarshan (1999), Income, Poverty and Beyond : Human
Development in India, Social Science Press, New Delhi.
 Dantwala, M.L. (1996), Dilemmas of Growth : The Indian Experience, Sage Publications,
New Delhi.
 Dantwala, M.L. et. al (1991), Indian Agricultural Development Since Independence , Oxford
& IBH, New Delhi.
 Dantwala,M.L. (!960), Dilemmas of Growth : The Indian Experience, Sage Publications, New
Delhi.
 Desai, G. and A. Vaidyanathan (Eds.) (1995), Strategic Issues in Future Growth of Fertilizer
Use in India, Macmillan, New Delhi.
 Dhawan, B.D. (1988), Irrigation in India’s Agricultural Development, Sage Publications ,
New Delhi.
 Ghatak, S. and K, Ingerscent (1984), Agriculture and Economic Development, Select books,
New Delhi.
 Government of India (1976), Report of the National Commission on Agriculture, New Delhi.
 Government of India, Economic Survey (Annual), New Delhi.
 Government of India, Five Year Plans, New Delhi.
 Gulati, A. and T. Kelly (1999), Trade Liberalisation and Indian Agriculture, Oxford
University Press, New Delhi.
 Haque, T. and A.S. Sirohi (1986), Agrarian Reforms and Institutional Changes in India,
Concept Publishing Company, Delhi.
 Jodhar N. (Ed.) (1996), Challenges to Indian Banking, Mcmillan, New Delhi.
 Joshi, P.C. (1975), Land Reforms in India: Trends and Prospects, Allied Publishers, Bombay.
 Kahlon, A.S.and Tyagi D.S. (1983), Agriculture Price Policy in India, Allied Publishers,
New Delhi.
 Kaur, R. (1975), Agricultural Price Policy in Economic Development, Kalyani Publishers,
Delhi.
 Kausro, A.M. (!973), The Economics of Land Reforms and Farm Size in India, Macmillan,
New Delhi.
 Meier, G.M. (1995), Leading Issues in Economic Development, Oxford University Press,
New Delhi.
 Mitra, A. (1977), Terms of Trade and Class Relations, Frank Cass Co. Ltd., London.
 Papola, T.S. (1982), Rural Industrialisation in India, Himalaya Publishing House, Bomay.
 Raghvan and L. Sarkar (Eds.) (1996), Poverty and Employment, New Age, New Delhi.
 Raj, K. N. et. al. (1988), Essays in the Commercialisation of Indian Agriculture, Oxford
University Press, New Delhi.
 Raj, K.N. et. al (1988), Essays in the Commercialization of India Agriculture, Oxford
University Press, New Delhi.
 Rao C.H. Hanumantha (1975), Technological Change and Distribution of Gains from
Agriculture, Macmillan, New Delhi.
 Rao,C.H. Hanumantha (1994), Agricultural Growth, Rural Poverty and Environmental
Degradation in India, Oxford University Press, New Delhi.
 Reserve Bank of India (1989), Report of the Agricultural Credit Review Committee,
Bombay.
 Reserve Bank of India, Report on Currency and Finance (Annual), Mumbai.
 Rudra, A. (1982), Indian Agricultural Economics : Myths and Reality, Allied Publishers, New
Delhi.
 Saini, G.R. (1979), Farm Size, Resource Use Efficiency and income Distribution, Allied
Publishers, New Delhi.
 Soni, R.N. (1995), Leading Issues in Agricultural Economics, Arihant Press, Jalandhar.
 Subbarao, K.and De Janvry (1986), Agricultural Price Policy and Income Distribution in
India, Oxford University Press, New Delhi.
 Thamarajakshi, R. (1994), Intersectoral Relationship in a Developing Economy. Academic
Foundation, Delhi.
 Uppai, J.S. (Ed.) (1987), India’s Economic Problem – An Analytical Approach, Tata McGraw
Hill, New Delhi.
 Vaidyananthan, A. (1995), The Indian Economy : Crisis, Response and Prospsects, Orient
Longmans, New Delhi.
 Visaria, P. and R. Basant (1994), Non-Agricultural Employment in India : Trends and
Prospects, Sage Publications, New Delhi.
 Wanmali S. and C. Ramasamy (Eds.) (1995), Developing Rural Infrastructure, Macmillan
New Delhi.
 ECONOMICS OF GENDER AND DEVELOPMENT - I

Sr. Topic and Details

No.

1. Introduction to Gender Studies:

Importance and concepts of women studies – Women in patriarchal and matriarchal
societies and structurers, patrilineal and matrilineal systems and relevance to present day
society in India; Economic basis and functioning of patriarchy in development and LDCs,
particularly India; Gender bias in the theories of value, distribution, and population.
2. Demographic Aspects:
Demography of female population; Age structure, mortality rates, and sex ratio – Causes of
declining sex ratios and fertility rates in LDCs and particularly India – Theories and
measurement of fertility and its control; Women and their access to nutrition, health ,
education, and social and community resources, and their impact on female mortality and
fertility , economic status, and in work participation rate.
3.
Women in Decision Making:
Factor affecting decision making by women; property right, access to and control over
economic resources, assets; Power of decision making at household, class, community level;
Economic status of women and its effect on work-participation rate, income level, health, and
education in developing countries and India; Role of kinship in allocating domestic and social
resources. Micro Finance.
4.
Conceptualization of Women’s Work:
Concept and analysis of women’s work; Valuation of production and unproductive work;
visible and invisible work; paid and unpaid work; economically productive and socially
productive work – economic status, private property, and participation of women in pre-
industrial and industrial societies – Female contribution to National Income.

ECONOMICS OF GENDER AND DEVELOPMENT - II

Sr. Topic and Details

No.

1.
Women and Labour Markets:
Factors affecting female entry in labour markets; Supply and demand for female labour in
developed and developing countries, particularly India; Studies of female work participation in
agriculture , Non-agricultural rural activities, informal sector, cottage and small scale
industries, organized industry, and services sector; Wage differentials in female activities;
Determinants of Wage differentials; gender, education, skill productivity, efficiency,
opportunity ; Structures of wages across regions and economic sectors.

2. Women, Technology and Environment:

Impact of technological development and modernization on women’s work participation in

general and in various sectors such as agriculture, non-agriculture rural activities, small and
cottage industries and organized industry – Female activities and ecological and
environmental concerns; the two way relationship – Role of new technologies for helping
women – Provision of information and training for simple harvesting of economics services.
3. Social Security and Social Protection for Women:

Social security of women, entitlements, ensuring economic independence and risk coverage,
access to credit and insurance markets; Role of voluntary organizations, self help groups in
providing social security; Labour market biases and gender discrimination; effectiveness of
collective bargaining; Review of legislation for women’s entitlements, protection of property
right, social security – Schemes for safety net for women; Need for female labour unions;
affirmative action for women and improvement in their economic and social status.

4. Gender Planning, Developing Policies and Government:

Gender and development indices; Mainstreaming gender into development policies; Gender
planning techniques; Gender sensitive governance; Paradigm shifts from women’s well being
to women’s empowerment; Democratic decentralization (Panchayats) and women’s
empowerment in India. Gender Budgeting.

References:

 Agarwal , B. (1994), A Field of One’s Own : Gender and Land Rights in South Asia, Cambridge
University Press, Cambridge.
 Agarwal, B. (1986), Cold Hearths and Barren Slopes; The Wood Fuel Crisis in the Third World,
Allied Publishers, Delhi.
 Agnihotri, S.B. (2000), Sex ratio in Indian Population: A Fresh Exploration , Sage publications,
New Delhi.
 Ahmed, I. (Ed.) (1985), Technology and Rural Women : Conceptual and Empirical Issues,
George Allen & Unwin, London.
 Amsden, A.H. (Ed.) (1980), The Economics of Women and Work, Penguin, Harmondsworth.
 Baud, I.S.A. (1992), Forms of Production and Women’s Labour : Gender Aspects of
Industrialization in India and Mexico, Sage Publications, New Delhi.
 Boserup E. (1970), Women’s Role in Economic Development, George Allen and Unwin,
London.
 Buvinic M. and M.A. Lycette (1989), ‘Women, Poverty and Development in the Third World’
in Lewis J.P. (Ed.), Strengthening the Poor : What Have We Learnt, OECD.
 Carr, M., C. Martha and R. Jhabvala (Eds.) (1997). Speaking Out : Women’s Economic
Empowernment in South Asia, Vistaar Publications, New Delhi.
 Custers, P. (1997), Capital Accumulation and Women’s Labour in Asian Economies, Vistaar,
New Delhi.
 Dantwala, M.L., H. Sethi and P. Visaria (1998), Social Change Through Voluntary Action, Sage
Publications, New Delhi.
 Desai, N. and M.K. Raj. (Eds.) (1979), Women and Society in India, Research Centre for
Women Studies, SNDT University, Bombay.
 Dwyer, D. and J. Bruce (Eds.) (1988), A Home Divided : Women and Income in the Third
World, Standford University Press, Stanford.
 Engles, F. (1985), The Origin of the Family, Private Property and the State, Progress
Publications, Moscow.
 Evans, H. and C. Ungerson, (Eds.) (1983), Sexual Divisions, Patterns and Processes, Tavistock,
London.
 Government of India (1974), Towards Equality – Report of the Committee on the Status of
Women in India, Department of Social Welfare, Ministry of Education and Social Welfare,
New Delhi.
 Gulati, S.C. (1988), Fertility in India : An Econometric Analysis of a Metropolis, Sage
Publications, New Delhi.
 Gupta, J.A. (2000), New Reproductive Technologies, Women’s Health and Autonomy, Indo
Dutch Studies on Development Alternatives, Sage Publication, New Delhi.
 ILO (1978), Women’s Participation in the Economic Activity of Asian Countries, ILO, Generva.
 International Rice Research Institute (1983), Women in Rice Farming Systems, I.R.R.E. Press,
Manila.
 Jain, D. and N. Banerjee (1985), Tyranny of the Household, Vikas Publishing House, New
Delhi.
 Jhabwala, R. and R.K. Subramanya (2000) (Eds), The Unorganized Sector : Work Security
and Social Protection, Sage Publications, New Delhi.
 Kabeer, N. (1994), Reversed Realities : Gender Hierarchies in Development Thought, Kali for
Women, New Delhi.
 Kabeer, N. and R. Subrahmaniam (Eds.) (1999), Institutions, Relations and Outcomes, Kali for
Women, New Delhi.
 Kalpagam, U. (1994), Labour and Gender : Survival in Urban India, Sage Publications, New
Delhi.
 King M. and M.A. Hill (Eds.) (1993), Women’s Education in Developing Countries: Barriers,
Benefits and Politics, John Hopkins, Baltimore.
 Krishnaraj , M., R.M. Sudarshan and A. Shariff (1999), Gender, Population and Development ,
Oxford University Press, New Delhi.
 Kuhn, A. and A.N. Wolpe (Eds.), (1978) Feminism and Materialism, Routledge and Kegan
Paul, London.
 Mazumdar, V. (1979). Symbols of Power : Studies on the Political Status of Women in India,
Allied Delhi.
 Mies, M. (1986/1998), Patriarchy and Accumulation on a World Scale : Women in the
International Division of Labour, Zed books, London.
 Mishra S. (2000), Voluntary Action in Health and Populatin : The Dynamics of Social
Transition, Sage Publications, New Delhi.
 Mitra, A. (1979), Implications of Declining Sex Ratio in India’s Population, Allied, New Delhi.
 MNRD, GOI (1987), Shram Shakti : Report of the National Commission on Self – employed
Women and Women Workers in the Informal Sector, Ministry of Human Resources
Development, New Delhi.
 Narasimhan, S. (1999), Empowering Women : An Alternative Strategy from Rural India, Sage
Publications, New Delhi.
 Papola, T.S. and A.N. Sharma (Eds.) (1999), Gender and Employment in India, Vikas
Publishing House, New Delhi.
 Purushothaman, S. (1998). The Empowernment of Women in India : Grassroots Women’s
Networks and the State, Sage Publications, New Delhi.
 Redcliff, N. and E. Mingione, (Eds.), (1985), Beyond Employment : Household, Gender and
Subsistence, Basil Blackwell, Oxford.
 Schultz. T.P. (1988), ‘Education Investment and Returns’ in Chenery, H.B. and T.N. Srinivasan,
The Handbook of Development Economies, North Holland, New York.
 Sen, A.K.(1990), ‘Gender and cooperative Conflicts’ in Tinker (Ed), Persistent Inequalities :
Women and World Development, Oxford University Press, New York.
 Sen. G. and K. Brown (1985/1987), Development , Crises and Alternate Visions, Monthly
Review Press, New York.
 Seth, M. (2000), Women and Development : The Indian Experience, Sage Publications, New
Delhi.
 Srinivasan, K. (1998), Basic Demographic Techniques and Applications, Sage Publications,
New Delhi.
 Srinivasan K. and A. Shroff (1998), India : Towards Population and Development Goats,
Oxford University Press, New Delhi.
 Venkateswaran, S. (1995), Environment, Development and Gender Gap; Sage Publications,
New Delhi.
 Wazir, R, (2000), The Gender Gap in Basic Education : NGOs as change Agents, Sage
Publications, New Delhi.
 Young, K., et. al. (Eds.) (1987), Serving Two Masters, Routledge & Kegan Paul, London.
 FINANCIAL INSTITUTION AND MARKETS – I
Sr. Topic and Details
No.

1 Nature and Role of Financial System :

Money and finance – Money and near-money – Financial intermediation and financial
intermediaries – The structure of the financial system – Functions of the financial sector –
Indicators of financial development – Equilibrium in Financial Markets – Financial System and
Economic Development – Criteria to evaluate assets; Risk and financial assets, types of risk,
return on assets, Risk – Return trade off – Valuation of Securities.
2 Structure of Interest Rates:

Theories of interest rate determination – Level of interest rates – Long period and Short period
rates – Term Structure of Interest rates – Spread between lending and deposit rates
Administered interest rates – Appropriate interest rate policy

3
The Central Bank, Commercial Banks and Monetary Policy:
Function of Central Bank – The aims and objectives of the monetary policy in developed and
developing countries – Instruments of monetary policy – Proliferation of banking and non-bank
financial intermediaries – Effectiveness of monetary policy Credit creation and is control;
Profitability and efficiency of banks; Development banks – role and functions; Investment
banking and merchant banking; Financial sector reforms in India.

FINANCIAL INSTITUTION AND MARKETS – II

Sr. Topic and Details
No.

1 Non-bank Financial Intermediaries:

Definition and types of non-bank financial institutions; Their growth and impact on India’s
economic development, Measures taken to control their operations.

2 Financial Markets:
Role and Structure of money market and capital market – Call money market, Treasury bill
market, Commercial bill market including commercial paper and certificate of deposits,
Discount market – Government securities market – Markets for derivatives : futures and
options, and other derivatives: types, uses and pricing of derivatives – Primary and secondary
market for securities; SEBI : its impact on the working of capital market in India, IRDA and
its role in financial markets.
 3 International Financial Markets:
Nature, organization and participants – Exchange rates – devaluation, and depreciation –
Working of floating exchange rates since 1973 – Risk hedging and futures in exchange rates –
International Financial Flows, forms and volume – Rise and fall of Brettonwood Institutions -
International Liquidity – Post Maastricht developments – Reforms in International monetary
system for developing countries – Lending operation of World bank and its affiliates –
Working of IDA and IFC. The Theory of optimum currency areas – Growth of Regional
financial institutions. Asian Development bank and its lending activities; Asian Development
Bank and India. Euro-dollar and Euro-Currency markets : their developmental role and
regulation at the International level.

References:

 Bhatt, R.S. (1996), Unit Trust of India and Mutual Funds : A Study, UTI Institute of Capital
Markets, Mumbai.
 Bhole, L.M. (1999), Financial Institutions and Markets, Tata McGraw Hill Company Ltd., New
Delhi.
 Bhole, L.M. (2000), Indian Financial System, Chaugh Publications, Allahabad.
 Bishop, P. and D. Dixon (1992), Foreign Exchange Handbook, McGraw Hill, New york.
 Brahmananda, P.R. (1982), IMF Loan and India’s Economic Future, Himalaya Publishing
House, Bombay.
 Chaandler, L.V., and S.M. Goldfeld (1977), The Economics of Money and Banking, Harper &
Row, New York.
 Chamberlain, G. (1981), Trading in Options, Woodhed – Faulker, Cambridge.
 Chandra,P. (1997), Financial Markets, (4th Edition), Tata McGraw Hill, New Delhi.
 Crocker, A. (1992), International Money : Issues and Analysis, The English Language Book
Society, Nelson, London.
 Edminster, R.O. (1986), Financial Institutions, Markets and Management, McGraw Hill, New
York.
 Farrell, J.L. (1997), Portfolio Management, (2nd Edition), McGraw Hill, New York.
 Fenstermaker, J.V. (1969), Readings in Financial Markets and Institutions, Appleton, New
York.
 Fisher, G.E. and R.J.Jorden (1992), Security Analysis and Portfolio Management, Eastern
Economy Edition, New Delhi.
 Goldsmith, R.W.(1969), Financial Structure and Development, Yale, Londo.
 Goss, B.A. and B.S. Yamey (1978), The Economics of Futures Trading, Macmillan, London.
 Gupta, L.C. (Ed) (1999), India’s Financial Markets and Institutions, Society for Capital
Research and Development, Delhi.
 Gupta, S.B. (1983), Monetary Economics, S. Chand & Company, New Delhi.
 Hanson, J.A.and S. Kathuria (Eds.).,(1999), India : A Financial Sector for the Twenty-first
Century, Oxford University Press, New Delhi.
 Harker, P.T. and S.A. Zenios (2000) (Ed.), Performance of Financial Institutions, Cambridge
University Press, Cambridge.
 Johnson, H.J. (1993), Financial Institutions and Markets, McGraw Hill, New York.
 Khan, M.Y. (1996), Indian Financial System, Tata McGraw Hill, New Delhi.
 Kindleberger, C.P.(1996), A History of Financial Crisis, Manias, Panics and Crashes, John
Wiley & Sons, New York.
 Machiraju, H.R. (1997), International Financial Markets in India, Wheeler Publishing,
Allahabad.
 Machiraju, M.R. (1999), Indian Financial Systems, Vikas Publishing House, New Delhi.
 Mackinnon, R.J. (1979), Money in International Exchange, Oxford University Press, Oxford.
 Niehans, J. (1984), International Monetary Economics, John Hopkins University Press, New
York.
 Ohlson, J.A. (1987), The Theory of Financial Markets and Institution, North Holland,
Amsterdam.
 Prasad, K.N. (2001), Development of India’s Financial System, Sarup & Sons, New Delhi.
 R.B.I. (1985), Report of The Committee to Review the Working of the Monetary System
(Chakravarty Committee), Bombay.
 R.B.I. (1995), Report of the Working Group on Foreign Exchange Market in the India,
(Sodhani Group), Mumbai.
 Rangaranjan, C. (1999), Indian Economics : Essays on Money and Finance, UBS Publication,
New Delhi.
 RBI (1983), Functions and Working of RBI.
 Redseth, A. (2000), Open Economy Macroeconomics, Cambridge University Press,
Cambridge.
 Robinson, R.I. and D. Wrightman (1981), Financial Markets, McGraw Hill, London .
 Sahadeven, K.G. and M.T. Thiripalraju (1997), Mutual Funds, Prentice Hall of India, New
Delhi.
 Sayers, R.S. (1967), Modern Banking, Oxford University Press, New Delhi.
 Shaw, E.S. (1993), Financial Deepening in Economic Development, Oxford University Press,
London.
 Smith, P.F. (1978), Money and Financial Intermediation : The Theory and Structure of
Financial System, Prentice Hall, Englewood-Clilfs, New Jersey.
 Verma, J.S. (1989), A Manual of Merchant Banking, Bharat Law House, New Delhi.
 Weller P. (1992), The Theory of Future Markets, Blackwell, Oxford.
 Yeager, L.B. (1976), International Monetary Relations : Theory, History and Policy, Harper
and Row, New York.
 ECONOMICS OF INFRASTRUCTURE - I

Sr. Topic and Details

No
1. Introduction:

Infrastructure and Economic Development- Infrastructure as a public good: Physical and Social
Infrastructure: Rationale of State intervention- Special characteristics of public utilities- Pricing
of public utilities, Marginal cost pricing vs. other methods of pricing in public utilities, Peak
load and off load problem- Peak load pricing and Two part tariff, Economies of scale of Joint
supply, Cross subsidization- Equity and efficiency.

2. Transport Economics:

Characteristics of demand and supply-The structure of Transport Costs. Demand for Transport.
Models of Freight and Passenger Demand. Model choice; Cost Functions in the Transport
Sector. Principle of Pricing. Special Problems of Individuals Modes of Transport; Inter-modal
condition in the Indian Situation-Location of Economic Activities.

Communications:
3.
Characteristics and problems of f Postal Services- Criteria for Fixation of Postal Rates –
Telecommunication- Rate-making in Telephone Utilities. Principles of Decreasing Costs in
Telephone Industry. . Measurement of Standards of Services in Telephone and Postal Utilities-
Optimal telecom Tariffs.

Energy Economics:
4.
Primacy of Energy in the Process of Economic Development, Factors Determining Demand for
Energy; Effects of Energy Shortages. Energy Conservation, Renewable and Non-conventional
Sources of Energy. Efficient Energy options- The search for an Optimal Energy Policy in the
Indian Context.

ECONOMICS OF INFRASTRUCTURE - II

Sr. Topic and Details

No.
1
Electricity, Gas, and Water supply:
Bulk Supply and pricing of Electricity. The Relative Economics of Thermal, Hydel and Nuclear
Power Plants. The Case for a National Power Grid. Financing Water Utilities. Urban and Rural
Water Supply-The concept of user charge, The Exploitation of Natural Gas. Pricing Problems.
2. Social Infrastructure:

Approaches to social infrastructure- Human resource development and human development:

differences and linkages. Organization And Financing of supply of Social Services. Private vs.
Public Sector Financing; Recent debate about the fixation of prices of social services.
 Development of social services in the successive Indian Plans.

3. Economics of Education:

Special characteristics of education, Education and Economic Growth. Approaches to

Educational Planning, Social Demand, Rate of Return –Private and social rates of return and
Manpower Balance Approaches. The Case for Universal, Free, Primary Education; Structure of
higher education and problems of its financing in India; Human Resources and Human Capital
Development. The issues in education policy

4. Economics of Health:

Special characteristics of health, Health dimensions of development; Determinants of Health –

Poverty, malnutrition, illiteracy and lack of information; Economic dimensions of health care –
Demand and supply of health care ; Financing of health care and resource constraints; Disease
burden and its measurement- Planning of health care in India, Inequalities in health – class and
gender perspectives; Institutional issues in health care delivery.

References:

 Baru, R.V. (1998), Private Health Care in India : Social Characteristics and Trends, Sage
Publications, New Delhi.
 Becker, G.S. (1974), Human Capital (2nd Edition), National Bureau of Economic Research,
New York.
 Berman, P. and M.E. Khan (1993), Paying for India’s Health Care, Sage Publications, New
Delhi.
 Crew, M.A. and P.R. kleindorfer (1979), Public Utility Economics, Macmillan, London.
 Indian Council of Social Sciences Research (ICSSR) (1976), Economics of Infrastructure,
Vol. VI, New Delhi.
 Mcmohan, w.w. (1991). Education and Development : Measuring the Social Benefits, oxford
University Press, Oxford.
 National Council of Applied Economic Research (NCAER), (1996), India Infrastructure
Report : Policy Implications for Growth and Welfare, NCAER, New Delhi.
 Nelson, J.R. (1964), Marginal Cost Pricing in Practice, Prentice-Hall, Englewood-Cliff.
 Padmanabhan, C.B. (1984), Financial Management in Education, Select Books, New Delhi.
 Panchamukhi, P.R. (1980), Economics of Health : A Trend Report in ICSSR, A Survey of
Research in Economics, Vol. VI, Infrastructure, Allied, Delhi.
 Parikh, K.S. (Ed.) India Development Report Several years, Oxford, New Delhi.
 Phillips A. and O.E. Williamson (Eds.) (1967), Prices : Issues in Theory, Practice and Public
Policy, University of Pennsylvania Press, Philadephia.
 Tata Energy Research Institute (1995), Environmental Considerations and options in
Managing India’s Long-term Energy Strategy, Mumbai.
 Tilak, J.B.G. (1994), Educational for Development in Asia, Sage Publications, New Delhi.
 Vaizey, J. (1962), Economics of Education, Faber and Faber, London.
 Woodhall, M.(1992), Cost Benefit Analysis in Educational Planning, UNESCO, Paris.
 World Bank (1993), The World Development Report, 1993 : Investing in Health. Oxford
University Press, New York
 PUBLIC ECONOMICS –I
Se. Topic and details
No.
1 Introduction:
Nature and Scope of Public Economics- Role of Government in organized society; Changing
perspective – government in mixed economy,; Public and private sector; Cooperation or
completion; Government as an agent for economic planning and development; Government s a
tool for operationalizing the planning process; private ,public and merit goods; Market failure-
imperfection, decreasing costs; externalities, public goods. Uncertainty and non existence of
future markets; Informational asymmetry.
2 Public Choice:
Private and public mechanism for allocating resources; Problems for allocating resource; Voting
systems; Arrow impossibility theorem; An economic theory if democracy; Politico-eco-
bureaucracy; Rent seeking and directly unproductive profit seeking (DUP) activities.
Stabilization Policy- Keynesian case for stabilization policy; Social goals; Poverty alleviation;
Provision of infrastructural facilities, removing distributional inequalities and regional
imbalances.
3 Public expenditure:
Wagner’s Law of increasing state activities; Wiesman-Peacock hypothesis; Pure theory of
public expenditure; Structure and growth of public expenditure; Criteria for public investment;
Social Cost-benefit analysis – Project evaluation, Estimation of costs, discount rate, Reforms in
expenditure budgeting sand Zero base budgeting.
4 Taxation:
Theory of incidence; Alternative concepts of incidence- Allocative and equity aspects on
individual taxes; Benefit and ability to pay approaches; Theory of optimal taxation; Excess
burden of taxes; Trade off between equity and efficiency; Theory of measurement of dead
weight losses.

PUBLIC ECONOMICS – II
Se. Topic and details
No.
1 Public Debt:
Classical view of public debt; Compensatory aspect of debt policy; Burden of public debt;
Sources of public debt; Debt through created money; Public borrowings and price level;
Crowing out of private investment and activity; principle of debt management and repayment.

2 Fiscal Policy:
Objectives of fiscal policy- full employment; anti-inflation, economic growth, redistribution of
income and wealth; Interdependence of fiscal and monetary policies; Budgetary deficits and its
implications; fiscal policy for stabilization- automatic vs. discretionary stabilization; Alternative
measures of resource mobilization and their impact on growth, distribution and prices.

3 Fiscal Federalism:
Principles of multi-unit finance; Fiscal federalism in India; Vertical and Horizontal imbalance;
Assignment of function and sources of revenue; constitutional provision; Finance Commission
and Planning Commission; Criteria for transfer of resources and grant ; Centre- State financial
relation in India; Problems of states’ resources and indebtedness; Transfer of resources from
Union and States to local bodies.
4 Indian Public Finances:
Indian tax system; Revenue of the Union, States and local bodies; Direct and Indirect taxes,
Taxation of agriculture, expenditure tax, reforms in direct and indirect taxes, taxes on services;
Non tax revenue of Centre, State and local bodies; Analysis of Central and State government
budgets; Shrinking size of development finance through budgets; Trends in public expenditure
 and public debt; Fiscal crisis and fiscal reforms in India.

References:

 American Economic Association (1955), Readings in Fiscal Policy, George Allen and Unwin,
London.
 Atkinson, A.B. and J.E. Siglitz (1980), Lectures on Public Economics, Tata McGraw Hill,
New York.
 Auerbach, A.J. and M. Feldstern. (Eds.) (1985), Handbook of Public Economics, Vol.I, North
Holland, Amsterdam.
 Barman, K. (1986), Public Debt Management in India, Uppal Publishing House, New Delhi.
 Bhargava, P.K. (1976), Taxation of Agriculture in India, Vora and Co., Bombay.
 Bhargava, P.K. (1982), Centre State Resource Transfers in India, The Academic Press,
Gurgaon.
 Bhargava, P.K. (1984), Some Aspects of Indian Public Finances, Uppal Publishing House,
New Delhi.
 Bhargava, P.K. (1991), India’s Fiscal Crisis, Ashish Publishing House, New Delhi
 Bhargava, R.N. (1967), The Theory and Working of Union Finance in India, Chaitanya
Publishing House, Allahadbad.
 Bhargava, R.N. (1969), Indian Public Finances, B.D. Bhargava and Sons, Chandausi.
 Bird, R. and O. Oldman (1967), Readings on Taxation in Developing Countries, the John
Hopkins University Press, Baltimore.
 Borkar, V.V. (1971), Income Tax Refore in India, Popular Prakashan, Bombay.
 Buchanan, J.M. (1970), The Public Finances, Richard D. Irwin, Homewood.
 Buchanan, J.M.(1958), Public Principles of Public Debt, A Defence and Restatement, Richard
D. Irwin Homewood.
 Buchanan, J.M.(1968), The Demand and Supply of Public Goods, Rand McNally, Chicago.
 Chelliah, R.J. (Ed)(1997), Towards Sustainable Growth, Oxford University Press, New Delhi.
 Chelliah, Raja J. (1971), Fiscal Policy in Underdeveloped Countries, George Allen and
Unwin London.
 Chelliah, Raja J.et. al (1981), Trends and Issues in India’s Federal Finance, National Institute
of Public Finance and Policy , New Delhi.
 Cornes, R. and T. Sandler (1986), The Theory of Externalities, Public Goods and Club
Goods, Cambridge University Press, Cambridge.
 Cutt, J. (1969), Taxation and Economic Development in India, Frederick A Praegar
Publishers, New York.
 Datt, R. (Ed.) (2001), Second Generation Economics Reforms in India, Deep & Deep
Publications, New Delhi.
 Dorfman, R. (Ed.) (1970), Measuring the Benefits of Government Investment, Brookings
Institution, Washington.
 Duff, L. (1997), Government and Market, Orient Longman, New Delhi.
 Ferguson, J.M.(Ed.) (1964), Public Debt and Future Generations, North Carolina University
Press, Chapel Hill.
 Friedman, A. (1986), Welfare Economics and Social Choice Theory, Martins Nijhoff,
Boston.
 Gandhi, V.P.(1970), Some Aspects of India’s Tax Structure, Vora and Company, Bombay.
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, Oxford University Press, London.
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 INTERNATIONAL ECONOMICS - I

Sr. Topic and Details

No.

1. Theory of International Trade:

The classical theory – absolute and comparative advantage – real cost and opportunity
cost approaches, modern theory of international trade – Heckscher-Ohlin theorem – factor
endowment and factor price approaches, Theorem of factor price equalization, empirical
testing of theories of comparative cost and Heckscher-Ohlin model.

2. New Theories of Trade:

The product cycle hypothesis, the vent-for-surplus approach, the Rybezynski theorem,
imitation gap theories of trade, increasing returns to scale, intra industry trade, the Neo-
Hechscher-Ohlin model, Neo-Chamberlinian models, Neo-Hotelling models, oligopolistic
model – Brander-Krugman model, the reciprocal dumping model, empirical work in intra-
industry trade - Balassa index and Grubel-Lloyed index.

3. Gains from Trade:

Measurement of gains from trade and their distribution, concept of terms of trade – their uses
and limitations, Imperfect competition and international trade, hypothesis of secular
deterioration of terms of trade – its empirical relevance and policy implications for less
developed countries, trade as an engine of growth – welfare implications.

4. Theory of Interventions:

Tariffs and non-tariff barriers, economic effect of tariff under partial equilibrium (price
effect, terms of trade effect, competitive effect, income effect, revenue effect), effect of tariff
under general equilibrium, Stolper-Samuelson theorem, nominal, effective and optimum
rates of tariff.
 INTERNATIONAL ECONOMICS - II

Sr. Topic and Details

No.

1. Balance of Payments:

Meaning and components of balance of payments, disequilibrium in balance of payments,

adjustment mechanisms – elasticity approach, absorption approach, monetary approach and
portfolio balance approach, internal and external balance – Swan model, foreign trade
multiplier.

2. Exchange Rates and Exchange Control:

Flexible and fixed exchange rates, determination of exchange rates – mint parity theory,
purchasing power parity theory, balance of payments theory; meaning and objectives of
exchange control, methods of exchange control, optimum currency area theories.

3. The Theory of Regional blocks:

Forms of economic cooperation, reforms for the emergence of trading blocks at the global
level, rationale and economic progress of SAARC/SAPTA and ASEAN regions, regionalism
(EU, NAFTA), multilateralism and WTO, Rise and fall of gold standard and Bretton-
Woods system, emerging international monetary system, IMF – mechanism of membership
quota and borrowing, conditionalities; reform of international monetary system – India and
developing countries; theory of short term capital movements and East-Asia crisis - lessons for
developing countries, functions of GATT/WTO, UNCTAD, IMF, World Bank and Asian
Development Bank and their achievements and failures, WTO and World Bank from the
point of view of India.

4. Trade Policies in India:

Trade policies in India during last five decades with emphasis on post reform policies, recent
changes in the direction and composition of trade and their implications, rationale and impact
of trade reforms since 1991 on balance of payments, employment and growth; problems of
India’s international debt, working and regulations of MNCs in India, instruments of export
promotion and agenda for future, convertibility of rupee.

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