Syllabus M.sc_economics New Code 13-14 (1)

8/18/2019 Syllabus M.sc_economics New Code 13-14 (1)

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ETERNAL UNIVERSITY, BARU SAHIB,HIMACHAL PRADESH

AKAL SCHOOL OF ECONOMICS

COURSE STRUCTURE & SYLLABUS FOR M.A ECONOMICS

The M.Sc. in Economics will be a four semester full time programme. The course will be organised over twoyears, each year consisting of two semesters—the odd semester and the even semester. The programme of studyconsist of sixteen courses out of which 14 are core courses— compu !o"# for all students—and $ are % %c '(%cou"!%! . The students will finalise the topic for their Research ro!ect in consultation with the advisorycommittee of the concern department in the beginning of """ semester. The Research ro!ect will be of #$$mar%s& '$ mar%s for written Research pro!ect and ($ mar%s for viva voice. The viva voice will be conducted byinternal committee constituted by )eptt . The courses will be offered according to the following schedule*

SEMESTER)IA Compu !o"# P*p%"!+E+ - /$# Micro Economic TheoryE+ - /$0 Macro Economic TheoryM1T2 /$/3uantitative MethodsE+ - /$( 2istory of Economic Thoughts

SEMESTER)IIA Compu !o"# P*p%"!+E+ - /$4 1dvanced Micro Economic TheoryE+ - /#$ Research Methods for EconomicsE+ - /$5 Money and 6an%ingE+ - /$' "nternational Economics

SEMESTER)IIIT %"% -' % "%% Compu !o"# P*p%"!+E+ - /$7 "ndian EconomyE+ - /$8Economics of 9rowth and )evelopmentE+ - /$/ 1dvanced Macro Economic Theory

Any One of the following options for Papers E+ - -511 :i; 1gricultural Economics :ii; "ndustrial Economics :iii; 6asic Econometrics :iv; 2ealth Economics "

SEMESTER)IV

T %"% -' % -o Compu !o"# P*p%"! */0 o/% Compu !o"# R%!%*"c "%po" +E+ - /#0 ublic ;. :i; 1gricultural Mar%eting:ii; =abour Economics:iii; 1dvanced Econometrics:iv; 2ealth Economics ""

E0u) 1 1 Hum*/ V* u% & P"o2%!!'o/* E 'c!E+ - /#/ Research ro!ect

1


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M'c"o) Eco/om'c T %o"# 3ECON ) 15

UNIT)I

C%/ "* I0%*! o2 Eco/om'c!+ The Scarcity rinciple, the +ost 6enefit rinciple, the Marginal rinciple, the"ncentive rinciple;. The +omparative 1dvantage rinciple, the "nvisible 2and, Mar%et


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M*c"o)Eco/om'c T %o"# 3ECON ) $5

UNIT)I

M'c"o Fou/0* 'o/! o2 M*c"o Eco/om'c!+ The classical and The Feynesian model of income and employmentdetermination. Multiplier process and the different concepts of multiplier& Macro Economic Theories of +onsumption* Feynesian theory& Relative income, ermanent income, and =ife cycle income hypotheses+onsumption under Bncertainty D Modern approach.

UNIT)II

M*c"o)Eco/om'c T %o"'%! o2 I/(%! m%/ + The +lassical, Feynesian, -ew Feynesian, ost %eynesian and thefinancial theory of investment. =ags in investment. ortfolio diseCuilibrium and the transmission mechanism.1ccelerator Theory and TobinAs 3 Theory of "nvestment.

UNIT)III

D%m*/0 2o" Mo/%#+ 3uantity theory of money, Feynesian approach, 6aumol and TobinAs contribution,


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8u*/ ' * '(% M% o0! 3MATH ) 5

UNIT)I

D'22%"%/ '* 'o/ */0 Op 'm'!* 'o/ + artial and total derivatives, 2omogenous functions, EulerAs rule,


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H'! o"# o2 Eco/om'c T ou7 ! 3ECON ) ;5

UNIT : I

M%"c*/ ' '!m+ Main rinciples. Theory of economic development& >iews of Feynes, etty,2ume and +antillon on Mercantilism* physiocracy * -atural rder, 1griculture and roductnet, Social classes. Tableau EconomiCue.

UNIT : II

T % C *!!'c* P%"'o0+ Economic Thought of 1dam Smith, )avid Ricardo, and H. S. Millwith special reference to their views on value, distribution international trade and economicdevelopment& Malthus theory of population& Says law of mar%et. Ricardo Malthuscontroversy on SayAs law of mar%et.

UNIT : III

Soc'* '! 'c Eco/om'c T ou7 + Socialist critiCue of classical economic thought with specialreferences to the views of Saint Simon, Sismondi and roudhan. The 2istorical critics of+lassicism, Farl Marx method of Economic analysis. Marx of economic crises.Transformation roblem.

UNIT : IV

T % N%o)C *!!'c* P%"'o0+ Similarity and differences between classical and neo classicalthought& The Marginal Revolution with special reference to the contribution of the 1ustrianSchool, =eon Galras, Hevons. ost Marshalling )evelopment in Economic Theory*

+ontribution of Hoan Robinson, E. 2. +hamberlin& H. M. Feynes and ost Feynesiandevelopments in economic theory

S% %c %0 R%*0'/7!+

)asgupta, 1.F. :=atest;* Epochs of Economic Theory, xford Bniversity ress, -ew )elhi.

6rien, ). . * The +lassical Economists, =ondon, xford Bniversity ress, =atest.

Eric Roll :=atest;* 2istory of Economic Thought,


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A0(*/c%0 M'c"o Eco/om'c T %o"# 3ECON ) 45

UNIT)I

A/* #!'! o2 Comp% ' '(% M*"


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A0(*/c%0 M*c"o)Eco/om'c T %o"# 3ECON ) 5

UNIT)1

D%m*/0 */0 Supp # o2 L* ou"+ +lassical and Feynesian >iews. Feynesian and +lassical models of incomeand employment determination. Gage price flexibility and automatic full employment D +lassical versusFeynesian approach.

UNIT)$

Growth Models: -eo D classical model& 9olden rule of accumulation& ptimal growth turnpi%es. Theories of Trade +ycles* Multiplier 1ccelerator interaction model& Samuelson ,Faldor ,2ic%sAand 9oodwinAs models .

)etermination of 9eneral rice =evel& +lassical and Feynesian approaches. Theories of "nflation& )emand D pull and cost push inflation& short and long run hillips curve analysis& The Feynesian, monetarist and rationalexpectationists analysis.

UNIT);

B* */c% o2 P*#m%/ ! + +urrent and +apital accounts, Mundell


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Mo/%# */0 B*/


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I/ %"/* 'o/* Eco/om'c! 3ECON ) >5

UNIT)I

T %o"'%! o2 I/ %"/* 'o/* T"*0% : Meaning of "nterregional J"nternational trade, Theories of 1bsolute 1dvantage, +omparative 1dvantage and pportunity +osts. 2ec%scher hlinTheory of "nternational Trade, olumes ", "" and """, Fenen, .6. Elsevier1msterdam, 0$$(.

Frugman, .R. and * "nternational EconomicsDTheory and olicy, 1ddison bstfeld Maurice Gesley, 0$$$:=atest;.

Salvatore, )ominic% * "nternational Economics, Hohn Giley J Sons "nc., 0$$4 :=atest Edi.;

Sodersten, 6. . and * "nternational Economics, McMillan, =ondon, #8848:=atest;.


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UNIT)I

"o- */0 S "uc u"* C */7% '/ % I/0'*/ Eco/om# !'/c% 1 + -ature, causes and changes in sectoralincome distribution and occupational structure of the economy. "nfrastructure )evelopment D -eed,

performance and government strategy on infrastructure development with special emphasis on SpecialEconomic Lones :SELs;. State of the economy in #88$ 8#. i%ing, -ew )elhi.

Fapila, Bma :Ed.; :0$$'; * "ndian Economy Since "ndependence, 1cademic


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Eco/om'c! o2 "o- */0 D%(% opm%/ 3ECON ) 5

UNIT)I

Understanding Development: economic growth and development: Meaning of economic growth J economicdevelopment. "ndicators of economic development. 9rowth and +hange& 9ouletAs three core values of development& Sen.As +onception of )evelopment& Measurement of economic developments& "ncome utput

based measures and their inadeCuacies& 3=" and 2)" as indicators of )evelopment;.

UNIT)II

D'(%"!% S "uc u"% */0 Commo/ C *"*c %"'! 'c! o2 D%(% op'/7 N* 'o/!+ Si?e and income level :The >icious+ircle of overty and =ow =evel ECuilibrium Trap;, the big push theory and critical minimum effort thesis.Meaning of )ualism J its +haracteristics >alues and "nstitutions.

UNIT)III

T %o"'%! o2 D%(% opm%/: )avid Ricardo& Farl Marx& Schumpeter and RostovAs Theory of Stage of Economic9rowth. Model of growth J development Hoan Robinson , Faldor, 2ic%s ,2arrod )omar J Solow Swanmodel. Endogenous growth role of education, research J %nowledge.

UNIT)IV

T"*0% */0 0%(% opm%/ + Trade as engine of growth, two gape analysis, rebisch, Singer and Mydral views&9ains from trade J =)+s. )ependency theory of development.

S% %c %0 "%*0'/7!+

Meier, 9erald M. and Hames E. Raunch :0$$(;* =eading "ssues in Economic )evelopment, xford Bniversityress, -ew Ior%.

Thirlwall, 1. . :0$$(;* 9rowth and )evelopment, Seventh Edition, algrave Macmillan, -ew Ior%.

Todaro, Michael . and Stephen +. Smith :0$$4; * Economic )evelopment, earson Education :Singapore; vt.=td., "ndian 6ranch, )elhi.

Misra J uri* Economics of 9rowth J )evelopment, 2imalaya ublication.

R.F =e%hi *Economics of 9rowth J )evelopment, Falyani ublication.

Ray, )ebra! :0$$4;* )evelopment Economics, Seventh "mpression, xford Bniversity ress, -ew )elhi.

Iu!iro 2ayami )evelopmental Economics : =atest Edi.;

11


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R%!%*"c M% o0! 2o" Eco/om'c! 3ECON ) 1 5

UNIT)I

R%!%*"c + Meaning, characteristics and types :


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A7"'cu u"* Eco/om'c! 3ECON ) 115 3Op 'o/5 3'5

UNIT)I

I/ "o0uc 'o/+ -ature and Scope of 1gricultural Economics& Specificities of


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I/0u! "'* Eco/om'c! 3ECON ) 115 3Op 'o/5 3''5

UNIT)I

M%*/'/7 & I/ "o0uc 'o/+ -ature J scope of industrial Economics . rgani?ation of industry. +hanging formsof industrial organi?ation. rocess of industriali?ation* Rationale, ob!ectives, strategies and polices. olicy goalof industriali?ation in "ndia. Ma!or classification of the organi?ed industry* employment si?e and ownershipstructure

UNIT)II

P* %"/ o2 '/0u! "'* 7"o- + changes in industrial structure in "ndia since #8/# . Theories of industrial=ocation,


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B*!'c Eco/om% "'c! 3ECON ) 115 3Op 'o/5 3'''5

UNIT)I

-ature J Types of Econometrics, Methodology aluable and Multiple Regression Models& 6=BE roperties and Testing of 2ypothesis.)ummy >ariables and Their Bses as "ndependent >ariables

UNIT)II

-ature, +onseCuences, )etection J Remedial Measures for the problems of * Multicollinearity&2etroscedasticity& 1utocorrelation and Specification 6ias.

UNIT)III

)istributed =ag and 1utoregressive Models "ntroduction and -ature of )istributed =egacy :)=; J 1uto

Regressive :1R; Model. Foyc% 1pproach for Estimation of )= J 1R Models Rationali?ation of Foyc% 1pproach 6y adaptive Expectation and artial 1d!ustment 2ypothesis& 1lmorAs olynomial 1pproach.Testing+ausality in Economics * 9ranger and +ausality Tests.

UNIT)IV

Estimation of Regression Models using standard statistical Econometric ac%ages NS SS E>iew Sha?ameO."nterpretation of Estimates and 2ypothesis Testing. Testing for and redressal of Multicollinearity,2etroscedasticity, 1utocorrelation using +omputer TechniCues.

S% %c %0 "%*0'/7!+

9u!arati )amodar :0$$0; * 6asic Econometrics, Mc9raw 2ill.

Hohnston, H. and )inardo :#88'; * Econometric Methods, 4 th Ed., Mc9raw 2ill.

Foutsoyiannis* Econometics, palgrave


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H%* Eco/om'c!) I 3ECON ) 115 3Op 'o/5 3'(5

U/' :I

Relevance of Economics in 2ealth and Medical care. verview of health economics& concepts, definition and

scope of health economics. )ifference between health, health care and medical care, 6asic concepts used inhealth economics, Measures of health status, economic development, health services and health.

U/' )II

Micro economic tools for health economics* The law of demand, rice elasticity of demand, the law of supply,eCuilibrium, the theory of firm behaviour, imperfect competition, specification and measurement of economicvariables and their relationship, health status indicators.

U/' )III

2ealth care* "ndiaAs otential. Sta%eholders of healthcare industry, Measurement of medical care, changes in

health status, demand for medical care, and "ndiaAs share of worldAs health problems. )eterminants of demandfor health care, progress of health care supply in "ndia.

U/' )IV

ublic policy on health and health care .+hallenges in rural health care, public and private expenditure in healthcare, policy reforms in health care sector, steps in building a high class health care facility.

S% %c %0 "%*0'/7!+

Hames G. 2enderson, 2ealth Economics and olicy& Thomson South Gestern, :"ndian edition by 1%ash ress, -ew )elhi; 0$$/.

6aner!ee, ). :#8'/;, social and +ultural ol. K"", Hune.

6aner!ee, ). :#870;, overty, class and 2ealth +ulture in "ndia, >ol. " archi ra%ashan, -ew )elhi.

9andhian "nstitute for rural and Renu%a )evi, M.9owhar Hhan* 2ealth Economics "ssues and +hallenges, )eep J )eep ublication.

hilip Hacobs* :#88'; The Economics of 2ealth J medical care, 1naspen publication

Pu 'c F'/*/c% 3ECON ) 1$5

16


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UNIT)I

Scop% o2 Pu 'c F'/*/c%+ Meaning J scope of public finance. rivate and ublic 9oods + Role of 9overnmentin economic activity& allocation ,distributionJ stabilisation functions . Efficient rovision of ublic 9oods in a

artial and 9eneral ECuilibrium 1pproach. Role of 6udget with Special Reference to the 9oal of )istribution.erformance and programming budgeting. +lassification of budgets.

UNIT)II

M%*/'/7 A/0 T#p% O2 T*@%!+ ReCuirements of a good tax structure. 1pproaches to taxation * micro analysis of direct and indirect taxes& individual income tax, corporation income tax, sales tax including value added tax andexpenditure tax. "ncidence analysis in a partial and general eCuilibrium setting. Excess burden, Effects of taxation on wor% efforts, Savings and investment.

UNIT)III

"o- A/0 S "uc u"% O2 Pu 'c E@p%/0' u"%+ Effects on savings, investment J growth. GagnerAs law andeacoc% Giseman 2ypothesis. attern of public expenditure in "ndia and recent reforms in "ndia.

. and Hac%son, . M. :#88$; * ublic Sector Economics, 4th edition, 6asil 6lac%well, xford.

Musgrave, R. 1. J Musgrave, . 6. :=atest edition; * ublic


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A0(*/c%0 Eco/om'c! o2 "o- */0 D%(% opm%/ 3ECON ) 1;5

UNIT)I

Eco/om'c "o- */0 S "uc u"* C */7%+ Structural +hanges in the composition of grossdomestic product, occupational structure, Structure of capital accumulation& and accumulation of human capital& exploring the relationship between economic development and income distribution:Fu?netsA inverted B D shaped curve. )evelopment J growth role of "nstitutions.

UNIT)II

A7"'cu u"%)I/0u! "# I/ %"2*c%+ "nterdependence between agriculture and industry& industriali?ationand urbani?ation :The models of =ewis,


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A7"'cu u"* M*"


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L* ou" Eco/om'c! 3ECON ) 145 Op 'o/ 3''5

UNIT)I

L* ou" M*"arious classical, neo classical and bargaining theories of wage determination. >ariousconcepts of minimum wages and fair living. roblems of implementation of minimum wages. Gagedetermination by sectors D Brban and Rural, organi?ed and unorgani?ed. Gage and inflation. roductivity andwage relationship. rofit sharing schemes. +auses of wage differentials in terms of firm, industry, occupationand region.

UNIT)IV

&ndustrial Relations and 'rade Unions: - "ndustriali?ation and emergence of trade unionism. 9rowth, structureand pattern of trade unionism. 1chievements and failures of trade union movement. )eterminants of industrialdisputes. Steps to achieve industrial peace. Methods of settlement of industrial disputes * collective bargaining,

conciliation, arbitration and labour participation in management. =abour policy of the government.

S% %c %0 R%*0'/7! +

=ester, R. 1. :#854;. Economics of =abour& 0 e Macmillan, -ew Ior%.

Mc+ormic%, 6. and Smith Eds. :#858;. The Structure of =abour Mar%ets, 2arper and 6rothers, -ew Ior%.

6ellante, ). and M. Hac%son, :#87(;. =abour Economics, Mc9raw 2ill, -ew Ior%.

)as, -. :#85$;. Bnemployment


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A0(*/c%0 Eco/om% "'c! 3ECON ) 145 Op 'o/ 3'''5

UNIT)I

D'!c"% % & L'm' %0 D%p%/0%0 V*"'* % Mo0% !+ Types, mis specification and choice of 6inary )ependentModels. )escription and Estimation of =inear robability, =ogit, robit and Tobit Models.

UNIT)II

S'mu */%ou! E9u* 'o/ Mo0% ! 3SEM5 + -ature of SEMAs, Simultaneous ECuation 6ias, "dentificationroblem. )erivation of Ran% and rder +onditions, Testing "dentification of Economic Models. Estimation of

SEMAS * "=S, 0S=S, (S=S, =>R or ="M= Methods.

UNIT)III

T'm% S%"'%! A/* #!'!+ Bnivariates Time Series Model * Rationale, Stationarity, roperties of 1R, M1 and1RM1 processes. Testing Stationarity, Estimation and E+MO, Simultaneous Structural

ECuation Models.

UNIT)IV

P*/% D* * Mo0% !+"ntroduction * 1dvantages and issues involved in utili?ing panel data. Simple anel dataModels* approach, )ynamic anel )ata Models* Random EffectsmodelsP


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H%* Eco/om'c!) II 3ECON ) 145 Op 'o/ 3'(5

UNIT)I

Economic evaluation of health care in "ndia, cost analysis, cost minimi?ation analysis, cost effectivenessanalysis, cost utility analysis, cost benefit analysis. -ational 2ealth policy, comparative study of governmentand private health care services to the society.

UNIT)II

2ealth insurance& economic benefits of health insurance. rognosis and prospects, factors determining demandfor health insurance, existing health insurance schemes, constraints and challenges ahead, role of the stategovernments.

UNIT)III

2ealth financing mechanism& a review of per capita private and public expenditure on health services over time.1n analysis of the sources of :public, Cuasi Dpublic and private; finance for health. +riteria for evaluating healthfinancing mechanism :efficiency and eCuity;

UNIT)IV

Managing ris% in health care& various types of ris% :clinical operating ris%, event ris%, pricing ris%, financial ris% etc.; designing a ris% management strategy, preparing a hospital pro!ect

S% %c %0 "%*0'/7!+

Hames G. 2enderson, 2ealth Economics and olicy& Thomson South Gestern, :"ndian edition by 1%ash ress, -ew )elhi; 0$$/.

6aner!ee, ). :#8'/;, social and +ultural ol. K"", Hune.

Madan, T. -. 8#87$;, doctors and Society DThree 1sian +ase Studies, >i%as ublishing 2ouse, )elhi.

-ai%, H. . 8#8'';, an alternative System of 2ealth +are services in "ndia D Some roposals, "+SSR, )elhi


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E %"/* U/'(%"!' #, B*"u S* 'Hum*/ V* u%! & P"o2%!!'o/* E 'c!

#. Sub!ect +ode* E0u)1 1 +ourse Title* U/'(%"!* um*/ (* u%! '/ '7 %" %0uc* 'o/

*/0 P"o2%!!'o/* % 'c!

0. +ontact 2ours* L * # T* #

(. Examination )uration :2rs.;* T %o"#+ $ Tu o"'* + 1

4. Relative Geightage* IAE ; ETE 4 PRE ;

/. +redits* $ 5. Semester* F'"!

'. re reCuisites* N'

7. b!ective*

8. )etails of +ourse*

S. No. P*" 'cu *"! No. o2 %c u"%!# Bnderstanding the need, basic guidelines, content and process of

value education, self exploration, continuous happiness and prosperity, fulfillment of basic aspirations of human being

5

0 Bnderstanding the human being as co existence of Self :"; and body, understanding myself, sanyama and s,asthya ,understanding values in human relationships, from family order to Gorld family order, understanding the incorrectness andmutual fulfilment understanding existence as co existence,

7

( 6asis for universal human values and ethical human conduct, basis for holistic alternative towards universal human order

5

4 rofessional ethics, issues in professional ethics, inherentcontradictions and dilemmas and their resolutions

5

/ The holistic criteria for evaluation, case studies of typical holistictechnologies, management models and production systems,strategy for transition from the present state to universal humanorder* at the level of individual, at the level of society.

5

#$. racticalS. No. P*" 'cu *"!

# Self "ntroduction, goals of life, )ifferentiation between right and wrong,bservations and analysis of achievements and shortcomings in life

0 Root cause and way out of various techno genic maladies such as energy andnatural resource depletion, environmental pollution, global warming, o?onedepletion, deforestation, soil degradation etc.

( Root cause and way out of various threats to human happiness and peace such asnuclear proliferation, terrorism, criminali?ation of politics, large scale corruption,suicidal attempts, generation gaps, depression, scams, and brea%down of relations.

4 -atural 1cceptance in relationship feeling of respect and disrespect, )esiresrelated to Self :"; or 6ody, nurturing, protection and right utili?ation of body, plantsand herbs around the campus and their use in curing diseases

/ 9roup discussions in classrooms about any two problems of society, respecting anddisrespecting the related ones, Griting a story, poem, essay, s%it, narration,dialogue to educate a child,

23


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##. Suggested 6oo%s Readings*S. No. Au o"! N*m% o2 Boo

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Syllabus M.sc_economics New Code 13-14 (1)

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