Syllabus for
Bachelor of Arts (Economics Honours)
Academic Year  (2023)

Course Description:

The course is designed to provide a sound training in microeconomic theory to formally analyze the behaviour of individual agents. Since students have familiarity with the quantitative techniques in the previous semesters, mathematical tools are used to facilitate understanding of the basic concepts. This course looks at the behaviour of the consumer and the producer and covers the behaviour of a competitive firm, general equilibrium, imperfect markets and topics under information economics.

Course Objectives:

The course aims to help students to:

1. understand various aspects of consumer behaviour and demand analysis, production theory and behaviour of costs, market structure and equilibrium and efficiency of firms;

2. examine various concepts related to optimizing behavior of economic agents; 

3. understand the contribution of various Micro-Economic concepts and in evaluating their macro -policy prescriptions.

Preferences: Consumer Preferences, assumptions about preferences; Indifference Curves: Well-behaved preferences; The Marginal Rate of Substitution, other interpretations of the MRS, behaviour of the MRS; Utility: Cardinal Utility, constructing an utility function, indifference curves from utility; Marginal utility (MU): Marginal utility and MRS, The n-good case; Indirect utility function, expenditure minimization; Budget constraint: Properties of the budget set; Slutsky equation: Substitution effect, income Effect; Change in demand, rates of change, law of demand; Compensated demand curves; Choice under risk: Contingent consumption, functions and probabilities, expected utility function; The Von Neumann-Morgenstern theorem, risk aversion, risk spreading.

Production Functions: Inputs and Outputs, Describing Technological Constraints, Properties of Technology, The Marginal Product, Variations in One Input, Isoquant Maps and the Rate of Technical Substitution, Returns to Scale, The Elasticity of Substitution, Some Common Production Functions, Technical Progress; Cost: Cost-Minimizing Input Choices, Cost Functions, Changes in Input Prices, Change in the Price of One Input, Short-Run, Long-Run Distinction.

Perfect competition: Profit Maximization, Marginal Revenue, Short-Run Supply by a Price Taking Firm, Profit Maximization and Input Demand, Revenue Maximization, Managers and the Principal-Agent Problem. Imperfect Competition: (a)Monopoly: Barriers to Entry, Profit Maximization and Output Choice, Monopoly and Resource Allocation, Monopoly and Product Quality, Peak-load pricing; Two-part tariff; Price Discrimination, Regulation of Monopolies; (b) Monopolistic Competition: Model of Product Differentiation; (c)Oligopoly: Pricing under Homogeneous Oligopoly.

General Equilibrium: General Equilibrium Models, Perfectly Competitive Price System, The Necessity of General Equilibrium; Efficiency: Pareto Efficiency, Efficiency in Production, Efficiency in Product Mix, Competitive Prices and Efficiency; Departures from the Competitive Assumptions, Market Adjustment and Information, Disequilibrium Pricing and Expectations. Externalities – Positive and Negative externalities, Externalities of imperfect competition.

Hill India.

Snyder, C. & Nicholson, W. (2011). Fundamentals of Microeconomics (11 th ed.). New 

Delhi Cengage Learning India.

Varian, H. R. (2014). Intermediate Microeconomics: a Modern Approach (9t h ed.). New

Delhi: W.W. Norton and Company/Affiliated East-West Press India.

Approach, New Delhi: McGraw Hill.

Koutsoyiannis, A. (1979). Modern Microeconomics. London: Macmillan Press.

In continuation to the Macroeconomics - I, wherein the students were given a systematic and sequential school-wise introduction to mainstream approaches in Macroeconomics, this course introduces the dynamic relationship that exists between various important macroeconomic variables in the short-run as well as in the long-run. The course begins with an in-depth discussion of the IS-LM framework which forms the fountain of the Keynesian approach. Then it proceeds to the derivation of aggregate demand and supply, followed by discussions on output, unemployment and inflation nexus and the exchange rate determination in an open economy. The course has also included in its discussion recent debates in the field of macroeconomics such as the critiques of IS-LM framework, backward-bending Phillips curve, Discretion versus Policy debate etc. It also introduces students to the latest development in the field of macroeconomic policy such as the inflation targeting approach.

Course Objectives:

This course has been conceptualised in order to:

1. enhance the understanding of the learners regarding the macroeconomic dynamics in the short-run closed as well as open economy.

2. introduce the fundamental theoretical differences between the Classicals and the Keynesians on their approach related to aggregate demand and supply.

3. understand and analyse the nexus between output, inflation and unemployment in both the short-run and in the long-run.

4. understand and critically evaluate contemporary macroeconomic policies, create reports and deliver presentations.

The goods market and derivation of IS curve; real influences and Shift in IS schedule; the money market and derivation of LM curve; monetary influences and the shift in LM curve; determination of equilibrium income and interest rates; the relative efficacy of fiscal and monetary policy under IS-LM framework; Critiques of IS-LM.

The derivation of aggregate demand and supply curves; The Keynesian aggregate demand with vertical aggregate supply curve; sources of wage rigidity and unemployment; the flexible price with fixed money wage model; labour supply and money wage; the shift in aggregate supply; Keynes vs. Classicals.

Links between output and unemployment: Okun’s law; Estimates of potential GDP and their limitations; Natural rate of unemployment; Factors affecting natural rate of unemployment; Links between inflation and unemployment: Phillips curve; Friedman-Phelps expectations augmented Phillips curve; Output-inflation trade-off: Keynesian vs. Monetarists view; Backward bending Phillips Curve and threshold inflation; Disinflation and sacrifice ratio.

The Mundell-Fleming model: Key Assumption; determining equilibrium output and exchange rate in a small open economy; the monetary and fiscal policy under floating and fixed exchange rates regimes; the Mundell-Fleming model with changing price level.

Active or Passive Policy Debate; Fiscal Policy: Public-Choice and Partisan Theories, Automatic Fiscal Stabilisers, Pros and Cons of Balanced Budget Rules, Traditional and Ricardian View of Public debt, crowding in and crowding out effect, Ricardian equivalence; Monetary Policy: Goals of Monetary Policy and Intermediate Targets, Choosing Intermediate Targets in the case of Supply and Demand Shocks, Targeting Monetary Aggregates and its Implications, Targeting Interest Rates and its Implications;  Recent International Experience: Discretion versus Policy Rules Debate, Taylor’s Rule and Monetary Policy, Inflation Targeting: Issues Relating to Inflation Targeting, Country Experiences with Inflation Targeting.

Dornbusch, R., Fischer, S., & Startz, R. (2015). Macroeconomics (11th ed.). New Delhi: Tata McGraw.

Froyen, R. (2014). Macroeconomics: Theories and Policies (10th ed.). New Delhi: Pearson Education.

Mankiw, N. G. (2015). Macroeconomics (9th ed.). London: Worth Publishers.

Blanchard, O. (2009). Macroeconomics (5th ed.). New Delhi: Pearson Education.

Krugman, P. R., Obstfeld, M. & Melitz, M. (2012). International Economics (9th ed.). New Delhi: Pearson Education.

Moorthy, V. (2017). Applied Macroeconomics. New Delhi: I. K. International Publishing House.

Sheffrin, S. M. (1996). Rational Expectations (2nd ed.). Cambridge:  Cambridge University Press.

Course Description:

This course on Advanced Statistical Methods begins with some basic concepts of probability, followed by probability distributions of discrete and continuous random variables and joint distributions. A detailed focus is given to inferential statistics (testing of hypothesis), and the course ends with parametric and non-parametric tests for better statistical inference. The course content will be delivered using SPSS software for a better understanding of applications in economics.

Course Objectives:

This course has been designed to help students to:

• demonstrate understanding of basic probability theory and relate sampling technique with the theory of distribution;
• understand the methodology of testing theories.
• apply different methods of hypothesis testing to verify theories.

Sample spaces and events; probability axioms and properties; counting techniques; conditional probability and Bayes’ rule; independence.

Defining random variables; Probability distributions; Expected values of random variables and functions of random variables; Properties of commonly used discrete and continuous distributions (Uniform, Binomial, Normal, Poisson and Exponential random variables).

Meaning of hypothesis; Types and steps in testing of hypothesis; Flow diagram for hypothesis testing; Type I and Type II error; Two-tailed and One-tailed tests (basics); Importance of parametric and non-parametric tools.

‘t’ Test: One sample ‘t’ test; Independent sample ‘t’ test; Paired sample ‘t’ test; Analysis of variance (ANOVA).

Chi-square test; Phi coefficient; Mann-Whitney test; Wilcoxon signed rank test; Kruskal-Wallis test; Friedman’s ANOVA.

Douglas, A. L., Lind, W. G. M., & Samuel, A. W. (2006). Basic Statistics for Business and Economics. New York: McGraw-Hill Education

Field, A. (2009). Discovering Statistics using SPSS. London: Sage publications.

Gibbs, G. R. (2002). Qualitative Data Analysis: Explorations with NVivo. Buckingham: Open University Press Hall.

Kothari, C. R. (2004). Research Methodology: Methods and Techniques. New Delhi: New Age International.

Levine, D. M. (2005). Statistics for Managers Using Microsoft Excel (5th ed.). New York: Prentice.

Sharma, J. K. (2010). Fundamentals of Business Statistics. New Delhi: Vikas Publishing House.

Freund, J. E., & Perles, B. M. (2007). Modern Elementary Statistics. New Jersey: Prentice Hall.

Gupta, S. C., & Kapoor, V. K. (2007). Fundamentals of Applied Statistics. New Delhi: Sultan Chand & Sons.

Larsen, R. J., & Marx, M. L. (2012). An Introduction to Mathematical Statistics and its Applications. (5th ed.). New Jersey: Prentice Hall.

ESE: will be a submission-based evaluation.

Course Description

Health economics is at the interface of economics and health science. Economic theory is applied for decision making in the health sector. The course aims at providing the students with the basic knowledge on the definition and scope of health and measuring the quality of health using appropriate methods and to relate the supply and demand concept with respect to health, understanding different health costs concepts and functioning of economics of health insurance. The course also aims to introduce economic evaluation techniques to measure the health outcomes and its implication which will enable the students to practically use the evaluation technique for predicting outcomes.

Course Objectives

The course aims to help students to:

• provide an understanding of the role of health economics in health care decision making.
• introduce and explain various concepts and dimensions of decision making in the health sector and health care management.
• apply various evaluation techniques to analyse the health outcomes.
• provide overview of manpower in the Indian health sector

What is Health Economics?; the four basic questions: Production and Allocative efficiency and the production possibility curve, the distribution question, implications of the four basic questions; Concept of Health; Health as a good and utility analysis; Concept of medical care; Production of good health, Determinants of good health; Measurement of health status and quality of life: Mortality, morbidity and HALY, QALY family of summary measures. The concept of economics of epidemics and pandemics.

Demand for medical care and law of demand: Utility maximizing rule, the law of demand, other economic demand-side factors, supplier induced demand hypothesis; Non-economic determinants of demand for medical care, market demand for medical care, fuzzy demand curves and elasticities.

Opportunity cost; fixed and variable costs; incremental and marginal cost; direct and indirect medical costs time costs and travel cost; cost benefit analysis; cost effectiveness analysis; cost utility analysis: methodologies and issues.

The relationship between health insurance and demand for medical care; Information asymmetry, adverse selection; Risk aversion; Moral hazard; Health insurance-challenges; Insurance concepts; Co-payments; Co-insurance rates, deductibles, group insurance.

Concept of manpower planning in health; Steps in Manpower planning - models; the health workforce; medical education; physician supply, physician incentives; Indian Medicine; the pharmaceutical industry. Indian health system delivery and policy: issues and way forward. 

Saterre, R. E, & Neun S P. (2007). Health Economics: Theories, Insights and Industry Studies. (5th ed.). New Delhi: Cengage Learning India Private Limited.

Olsen, J A. (2009). Principles in Health Economics and Policy. (1st ed.). New Delhi: Oxford University Press.

Shanmugasundaram, Y. (1994). Theory and Practice of Health Economics in India. Chennai: Institute of Advanced Studies and Research.

Course Description

The course aims to explain the principles and methods of behavioral economics while contrasting them with standard economic models. It highlights the importance of cognitive ability, social interaction, moral incentives and emotional responses in explaining human behaviour and economic outcomes. 

Course Objectives

• To understand the scope of interaction between psychological phenomena and economic variables
• To develop perspectives about economic phenomena outside the spectrum of core economic theories.

Nature of Behavioural economics; Methodological approach; Origins of behavioral economics; Neo-classical and behavioral approaches to studying economics

Values; Preferences and Choices; the standard model; Axioms, assumptions and definitions; The neuro scientific basis of utility Beliefs; Heuristics and Biases; The standard model; Probability estimation; Self-evaluation bias- Projection bias- Causes of irrationality Decision making under risk and uncertainty; Risk based assessment; Prospect theory; Reference points; Loss Aversion; Shape of utility function; Decision weighting Mental accounting; Nature and components of mental accounting; Framing and editing; Budgeting and fungibility; Choice bracketing and dynamics

Nature of behavioural game theory; mixed strategies; Bargaining; Social Preferences: Altruism, envy, fairness and justice; Intentions, reciprocity and trust; Limited strategic thinking.

Angner, E. (2016). A Course in Behavioral Economics .(2nd ed.).New York: Palgrave Macmillan.

Wilkinson, N., &  Klaes, M. (2012).  An Introduction to Behavioral Economics. New York:  Palgrave Macmillan.

Ariely, D. (2008). Predictably Irrational. New York: Harper & Collins.

Camerer, C. F., Loewenstein, G., & Rabin, M. (eds). (2011). Advances in Behavioral Economics. Princeton:  Princeton University Press.

Cartwright, E. (2017). Behavioral Economics. London: Routledge.

Jalan, B. (1997). India's Economic Policy. New Delhi: Penguin Books India.

Kahneman, D., & Tversky, A. (2013). Choices, Values, and Frames. In Handbook Of The Fundamentals Of Financial Decision Making: Part I (pp. 269-278).

Kahneman, D., &  Tversky, A. (Eds.). (2000). Choices, Values, and Frames. Cambridge: Cambridge University Press.

Kapila, U. (Eds.). (2009). Indian Economy since Independence.  New Delhi: Academic Foundation.

Thaler, R. H., & Sunstein, C. R. (1975). Nudge: Improving Decisions about Health, Wealth, and Happiness. London: Penguin Books.

Question Paper Pattern: MSE and ESE (Max. Marks = 50)

Course Description

This course analyzes the structural aspects of the Indian state and offers a detailed understanding of important components of the Indian Constitution. It further examines the important organs of the state and their structural equations. Specifically, it provides debates on the functional aspects through executive and judiciary and its influence on Indian economy. 

Course Objectives

The objectives of the course are to introduce students to: 

• examine the dynamics of the Indian state and structure.
• identify and analyze the contemporary issues and debates of Indian Constitution.
• illustrating and outlining the nature, structure, working of the Constitution and the functional implications involved in it.

The Concepts of State and Constitutionalism; Preamble of the Indian Constitution; Philosophy of the Constitution;Salient Features; Fundamental Rights; Directive Principles of State Policy.

Parliamentary and Presidential forms of Government: A Debate; Union and State Council of Ministers: Organization and Functions; Indian Judiciary System – Judicial Review, Judicial Activism, Public Interest Litigation, Judicial Reforms.

Unitary and Federal features – Legislative, Administrative and Financial Relations – Ministry of Finance, NITI Aayog, Finance Commission and State Autonomy Debate.  

The Electoral Political Economy - Role of Pressure Groups and Public Opinion in the Electoral Process; Social Justice and Regional Disparities.

Course Description:

This course is intended to provide knowledge on accounting practices in sole and partnership firms of the 21^st century and equip students with concepts, processes and reporting of financial statements in modern organizations.

 Course Objectives:

The course aims to make students:

1. understand the basic accounting principles and practices
2. demonstrate the accounting cycle and the steps involved in the preparation of financial statements.
3. explain the practices of accounting in different forms of business except limited liability companies.

Meaning, Need for accounting, Internal and External users of accounting information, limitations of accounting, accounting Concepts and Conventions, Accounting Practices, Generally Accepted Accounting Principles, IFRS (concept only).

Nature of accounting, Accounting equation - Systems of accounting, Process of accounting transactions, types of accounts, Rules of accounting. Journal - Meaning, features, simple and compound entries., Capital and revenue expenditures, Capital and revenue receipts, Contingent assets and contingent liabilities, Preparation of ledgers. Preparation of trial balance.

Subsidiary books – material evidences – proforma invoice, debit and credit note, types of subsidiary books - Sales book, Sales return book, Purchases book, Purchase returns book, receivable book, payable book, Cash Book- (Single column, double column, and three columnar cash book, petty cash book) and journal proper.

Meaning, Types of accounting errors, Need for rectification and practical problems on rectification of errors.

Introduction, meaning, causes for difference between balance as per Cash Book and Pass Book, Advantages of reconciliation, Need for reconciliation and preparation of bank reconciliation statement.

Preparation of Trading and Profit and Loss account and balance sheet of sole trading concerns including all adjustments.

Preparation of partners’ capital account- fixed and fluctuating-preparation of profit and loss adjustment account –calculation of interest on drawings. Limited liability partnership (concept only).

Bhattacharya. (2014). Essentials of Financial Accounting (Based on IFRS) (2^nd ed.), Prentice Hall India.

Gupta, A. (2013). Financial Accounting for Management: An Analytical Perspective (1^st ed.), Noida: Pearson Education.

Maheshwari, S.N., & Maheshwari, S.K. (2014). Advanced Accountancy (10th ed.), 1, New Delhi: Jain Book Agency.

Porter, G.A., & Norton, C.L. (2014). Financial Accounting (IFRS update) (6^th ed.), Cengage Learning.

Radhaswamy, M & Gupta, R.L. (2014). Advanced Accountancy. 2, New Delhi: Sultan Chand & Sons.

Raman, B. S. (2013). Financial Accounting (1^stedi). I & II, New Delhi: UNITED Publishers.

Reddy, A. (2013). Fundamentals of Accounting. New Delhi: Himalaya Publishing House

Shukla, M. (2014). Advanced Accounts, New Delhi:  S Chand Group

Vasudeva, S. (2013). Accounting For Business Managers. New Delhi: Himalaya Publishing House.

* Mid Semester Exam      ** End Semester Exam

Course Description:

This paper is introduced to equip the students with the modern trends and courses in the field of consumer psychology. This paper provides a broad overview into the very interesting phenomena of the behaviour of consumers.

Course Objectives: The course aims to help students to:

• Understand the different concepts related to customers and market.
• Emphasize and know the role of psychological factors on people’s economic activity.
• Identify the roles of different social factors impacting the consumer decision making.
• Illustrate the process involved in the decision making process while making a purchase.

Definition of Consumer Behaviour, scope, marketing concepts, customer value, customer satisfaction and retention; Market segmentation: meaning of market segmentation: different types of segmentation, bases for segmentation; Product positioning: meaning and types

Consumer motivation: needs, goals, arousal, applications and evaluation; personality and consumer elements, Consumer perception; Consumer learning: elements and measures of consumer learning theories. Attitudes: meaning, attitude formation, strategies of attitude change.

Marketing communication: components of communication, communication process, designing and persuasive communication.

Reference Groups: meaning and power of reference group, types of reference groups, family, life-cycle, consumption rules; Social class: nature, social class categories: affluent consumer, middle class, techno class and applications of social class; Culture: influence of consumer behaviour, geographic and regional cultures.

Consumer Decision: meaning, levels of consumer decision, views and models of consumer decision making; Consumer Influence and diffusion of innovation: opinion leadership, dynamics of opinion leadership, diffusion of innovation, diffusion process, adoption process and profile of consumer innovator.

CIA 1: Individual Assignments (video case presentation - "why this product is successful"?

                                                                                                       Identify a successful product and present in terms of the crietria mentioned in the unit -1 for example ; market segmentation/ product positioning/ customer retention

CIA 2: Mid-Semester Examination(Written Examination)

Pattern:  Section A    5 x 02 = 10 marks (out of 6)

                Section B    4 x 05 = 20 marks (out of 5)

                Section C   1 x 10 = 10 marks (out of 2)

                Section D   1 x 10 = 10 marks (Compulsory)

CIA 3: Group Assignments (Surveys, & Field Studies)

ESE: End Semester Examination (Written Examination)

Pattern:  Section A    5 x 02 = 10 marks (out of 6)

                Section B    4 x 05 = 20 marks (out of 5)

                Section C   1 x 10 = 10 marks (out of 2)

                Section D   1 x 10 = 10 marks (Compulsory)

As education in every sense is one of the fundamental factors of development, this course is designed to understand the various nuances of education and development. No country can achieve sustainable economic development without substantial investment in human capital. Education enriches people’s understanding of themselves and the world. It improves the quality of their lives and leads to broad social benefits to individuals and society. Education raises people’s productivity and creativity and promotes entrepreneurship and technological advances. In addition, it plays a very crucial role in securing economic and social progress and improving income distribution. So, this course serves as a foundation course for carrying out research on education and development.

Course Objectives

The aim of this course is to;

• develop an understanding of the link between education and economic development; 
• comprehend the role of education in bringing about equity and social welfare;
• relate the main political, economic, and social processes that influence education;
• developing an insight of the educational policies in India.

Introduction; role of education in economic development: access to education and purpose of Education - a comparison across countries, education outcomes and their relationship with macroeconomic performance, Education as consumption and Education as individual, social and national investment; Education as an industry.

Concept of Returns to education - non-pecuniary benefits; social returns of education; Scientific management and education; Cost Effectiveness Analysis in Education. Difference between Cost-benefit and Cost –Effectiveness Analysis; Theories: Human capital and job signaling theories; returns due to job signaling versus returns due to human capital- a comparison.

Educational equity measures (a) the equal opportunity criterion (b) the cost – benefit criterion, and (c) the ability to pay criterion; Education as a determinant of income variance, and the relevant contribution of different levels of education.  Spill-over and inter-generational effects of education; Discrimination and diversity. (Caste, Gender, Ethnic); Equity and Social justice.

Meaning and purpose of Economics of Teacher provision, changing labour market in India- Demand and supply aspects for teachers and problems associated with the estimation; Choice of profession -gender perspective, relationship between teacher quality and teachers’ salaries. Significance of teachers in promoting national economic development.

Crisis in education; National policy on Education- 1986, 1992, 2019; Economic reforms; Financing of education; Education and Employment; Privatisation, Public - Private Partnership, District Primary Education Programme; Corporatization, Merit goods, non-merit good; Right to Education Act-2009, Education in XIIth plan.

Course Description :

This course has been designed to promote professional skills in the students. The theme identified for the third and fourth semesters is Critical thinking and professional Development. The topics identified under the theme will enable the students to understand the challenges faced during their career and allow them to face them with necessary skills. 

Course Objective:

The course aims to:

      ●  Develop discipline specific skills for professional and personal growth.

• Provide a platform to nurture and hone skills necessary for professional development 

Students must choose MOOC courses offered by various online platforms in the specific theme given for the third and fourth semesters. This consists of review of literature, reference management system, workspace etiquettes, critical analysis writing, SOP, article analysis, writing argumentative essays, resume writing, cover letters and job finding through an online portal.

Course Description:

The course introduces the fundamental concepts, approaches and the classic theories in areas of economics of growth as well as economic development. With the exploration of the diverse patterns of achieving economic development, the course gives insights on the existence of varied levels of economic progress across the nations. The course focuses on core issues like poverty, inequality by highlighting the discussions on the concept, measurement and extent of these problems.  In addition, the course throws light on the contemporary issues and hindrances in achieving economic development thereby introducing the various nuances encircling the broader topic of economic development.

Course Objectives:

The course intends to:

1. give an understanding of the theoretical perceptions of economic growth and development together; 

2. to create awareness of the challenges in the developmental process and thus motivate the students towards the thinking of alternative solutions;

3. analyse the evolving issues and nuances with respect to the economic growth and development.

Concept of Economic growth and development; Measurement: Traditional Measures, the new economic view of development, Sen’s Capabilities Approach; Development and Happiness and other recent measures; Core values and objectives of development; Environmental sustainability and sustainable development: Concept and recent strategies; Common characteristics of developing nations and difference between low-income countries today and developed countries in earlier stages.

Development as growth and linear stage theories: Rostow’s stages theory, Harrod-Domar Model and Romer’s model; Schumpeter’s Innovation theory, Structural change models: Lewis model and Chenery’s patterns of growth; International dependence revolution: False-paradigm model; Neo-classical growth model: Solow’s growth model; Neo-classical counter revolution: market fundamentalism; classic theories of development: reconciling the differences.

Underdevelopment as Coordination failure; Multiple Equilibria: A Diagrammatic Approach; the Big Push theory; Problems in multiple equilibria.

Concept of Poverty- absolute, relative and Poverty Line; Absolute poverty: Measurement, popular and recent measures, extent and magnitude; Concept of inequality and measurement, size distributions, Lorenz curves, Gini co-efficient and recent measures; Poverty inequality and social welfare: Economic growth and income inequality; Kuznets’ inverted Hypothesis; Impact of inequality on development.

Economic globalization; Key issues in international trade; Free-Trade and Less Developed Countries (LDCs); Trade policy for LDCs – Export promotion and import substitution; LDCs and global value chains

Development planning: concepts and rationale; basics of development planning process; role of State versus market in planning for development; development roles of NGOs.

Basu, K. (1997). Analytical Development Economics: The Less Developed Economy Revisited. Cambridge: MIT Press.

Dasgupta, P. (2007). Economics: A Very Short Introduction. New York: Oxford University Press. 

Putnam, R. (1994). Making Democracy Work: Civic Traditions in Modern Italy. Princeton: Princeton University Press.

Ray, D. (2011). Development Economics. Princeton: Princeton University Press.

Schultz, T. P., & Strauss, J. (2008). Handbook of Development Economics (eds.). (Vol. 4). Oxford: Elsevier.

Sen, A. (2000). Development as Freedom. New York: Oxford University Press. 

Thirlwall, A. (2006). Growth & Development. London: Palgrave Macmillan

The course introduces a detailed overview of the research methodology. First, it introduces the meaning, definition, types and importance of research. Thereafter, research methodology is being discussed from a historical point of view, wherein the position of research methodology in knowledge and philosophy is illustrated. The course then introduces different components of research problems and research design. The last sections of the course elaborate on survey designs, and methods of data collection and processing. The practical implementation of over-teaching of research methodology is done in the final section by introducing the ways of report/article/thesis writing.

Course Objectives:

This course has been designed to help students to

1. demonstrate the importance of research in creating and extending the knowledge base in their area of research interest;
2. compare  the  strengths  and  limitations  of  different  research  approaches  in general, and in their research area specifically; 
3. construct skills required to work independently, so that they can plan and carry out a small-scale research project.

Meaning and definition of research; criteria for good research; objectives of research; difficulties in social research; utility of research.

Research Philosophy: Positivism, Interpretivism and Realism; Deductive and inductive methods; classification of research.

Steps involved in selection of research problem; evaluation of the problem; literature review, sources of literatures.

Research design: Meaning, types and evaluation of research design; Research Ethics in designing, data collection and analysis.

Meaning of sampling; Sampling process; Methods of sampling; Sampling errors; Calculating sample size.

Types of data: Primary and secondary data; Methods for primary data collection: observation; interview; questionnaire; schedule; Sources of secondary data; Case study; Survey methods.

Steps in data processing: Editing; Coding; Classification; Transcription; Analysis of data and interpretation.

Types of report; Planning of report writing; Format of research report; Reference styles.

Kothari, C. R. (2014). Research Methodology: Methods and Techniques (2 nd ed.). New Delhi: New Age International Publishers.

Walliman, N. (2016). Social Research Method: The Essentials. London: SAGE Publications.

Wellington, J. & Szczerbiński, M. (2007). Research Methods for the Social Sciences. New York: Continuum International Publishing Group.

Buchanan, D. A., & Bryman, A. (2009). The SAGE Handbook of Organizational Research Methods. London: SAGE Publications.

Gillham, B. (2000). Case Study Research Methods. London: Continuum International Pub. Group.

Gillham, B. (2008). Small-scale Social Survey Methods: Real World Research. London: Continuum International Publishing Group. 

Hammersley, M., & Traianou, A. (2012). Ethics in Qualitative Research: Controversies and Contexts. London: SAGE Publications.

Mustafa, A. (2008). Case Study Method: Theory and Practice: Research and Management Approaches. New Delhi: Atlantic Publishers & Distributors.

Ornstein, M. D. (2013). A Companion to Survey Research. London: SAGE Publications.

Saldaña, J. (2012). The Coding Manual for Qualitative Researchers. London: SAGE Publications.

Saunders, M., Lewis, P., & Thornhill, A. (2011). Research Methods for Business Students (5 th ed.). New Delhi: Pearson Education Ltd.

Yang, K. (2010). Making Sense of Statistical Methods in Social Research. London:  SAGE Publications.

Course Description

This  course  provides  a  comprehensive  introduction  to  basic  econometric  concepts  and  techniques  of  econometric  analysis  through  a  step-by-step  approach.  The  course begins  with  an  introduction  to  the  definitions  and  scope  of  econometrics.  Then  students  will  be  introduced  to  simple  as  well  as  multiple  linear  regression  models  and  the  fundamental  assumptions  of  Classical  Linear  Regression  Modelling.  The  causes,  consequences  and  remedies  for  the  assumption  violations  viz.  Heteroskedasticity, Autocorrelation  and  Multicollinearity  are  then  discussed.  There  is  a  separate  unit  to introduce  students  to  the  use  of  dummy  variables  in  econometric  analysis.  The  course also covers the consequences of and tests for misspecification of regression models.  

Course Objectives

 This course aims to: 

 1.  Understand the basic econometric concepts and techniques. 

 2.  Demonstrate simple as well as multiple linear regression models. 

 3.  Analyse and examine the CLRM assumption violations and specification errors. 

 4.  Introduce dummy variables and its use in econometric modelling. 

Definition and scope of econometrics; Methodology of econometric research; Historical origin of the term regression and its modern interpretation; Statistical vs. deterministic relationship; regression vs. causation, regression vs. correlation; Terminology and notation; The nature and sources of data for econometric analysis.

Two-Variable Case Estimation of a model by OLS method: Assumptions; Properties of Least Square Estimators: Gauss-Markov Theorem; Testing of regression coefficient; Test for regression as a whole: Coefficient of determination.

Multiple Regression Analysis: The problem of estimation, notation, and assumptions; the meaning of partial regression coefficients; the multiple coefficient of determination: R2 and the multiple coefficient of correlation; R2 and adjusted R2; partial correlation coefficients; interpretation of multiple regression equation.

Introduction to Multicollinearity, Heteroscedasticity & Autocorrelation: the nature of the problem; its detection and corrective measures.

Omitted Variables and test; Irrelevant Variables; Misspecification of the functional form; Alternative functional forms; Errors of Measurement: Outliers; Leverage and Influence data.

Dummy Variable technique: The Nature of Dummy Variables; Dummy Variable Trap; ANOVA; Use of Dummy variables:  Structural Break; Seasonal Adjustment; and Interaction effects; Nature of Qualitative response models: Linear Probability Model; Logit Model; Probit Model.

Gujarati, D. N. (2016). Econometrics by Example (2nd ed.). New Delhi: Palgrave.

Gujarati, D. N., Porter, D.C., & Gunasekar, S. (2017). Basic Econometrics. (5th ed.). New Delhi: McGraw-Hill.

Studenmund, A. H. (2016). Using Econometrics: A Practical Guide. (7th ed.). New Delhi:  Pearson.

Koutsoyiannis, A. (1973). Theory of Econometrics. New York: Harper & Row.

Wooldridge, J. M. (2014). Introductory Econometrics: A Modern Approach (4th ed.). New Delhi: Cengage Learning.

Sheffrin, S. M. (1996).  Rational Expectations  (2nd  ed.). Cambridge: Cambridge University Press. 

The course is intended to be a general introduction to economic sociology. It would sensitize students to the major concepts, ideas and findings in this field. The course will primarily deal with the application of sociological tradition to explain economic phenomena.

Course Objectives:

The course aims to help students to:

1. illustrate why economic actions, processes and structures need to be embedded in the wider social context.

2. describe the theoretical perspectives of economic sociology (such as embeddedness by Granovetter, Transaction Cost Analysis, Agency Theory) and survey one of the current research trends in the discipline.

3. discuss why economic sociologists are increasingly rejecting the notion of “free” markets and embracing the idea of “choice within constraints”.

4. develop writing and presentation skills.

The classics in economic sociology; New economic sociology; Embeddedness by Granovetter; Contributions of new economic sociology; Structural sociology and networks; Organization theory; Cultural sociology; Building a historical and comparative tradition in economic sociology; James Coleman and interest-based sociology.

The social organisation of the economy; Capitalism; Industrial districts; Globalization; Economic theories of the firm; Organisational Economics; Transaction cost analysis; Agency theory.

Economists on the market from a sociological perspective; Markets in classical political economy (Adam Smith to Marx); The marginalist revolution and creation of the modern concept of the market; The Austrian School and the concept of the market as a process; Keynes’ critique of the mainstream view of the markets; Industrial organisation and the concept of market structure; Sociologists on markets: Max Weber-Harrison White on the market; The W(y) model; Markets as networks; Price and price formation.

The values approach to culture; the relationship of values to norms; Culture and economic development; Culture, religion and economic ethic; Economic culture and modernisation; Culture and economy in modern sociology; Culture and trust in contemporary economic sociology; Material culture and consumption.

Definitions; The dynamics of informality; The role of the state; Measuring the unmeasurable; The changing boundaries of informality

Swedberg, R. (2003). Principles of Economic Sociology. Princeton: Princeton University Press.

Akerlof, G. A. (1978). The market for “lemons”: Quality uncertainty and the market mechanism.  The Quarterly Journal of Economics, 84 (3), 488-500.

Alchian, A. A., & Demsetz, H. (1972). Production, Information Costs and Economic Organization. The American Economic Review, 62(5), 777–795.

Aldrich, H. E., & Ruef, M. (2006). Organizations Evolving. (2nd ed.). London: SAGE Publications Ltd.

Alford, C. F. (2001). Whistleblowers: Broken Lives and Organizational Power. New York: Cornell University Press.

Arrow, K. (1985). The Economics of Agency. In J. W. John., W. Pratt & R. Zeckhauser (Eds.), Principals and Agents: The Structure of Business (pp. 37–54.). Massachusetts: Harvard Business School Press

Course Description:

The course aims at providing the students with the basic understanding of the microeconomic aspect of labour theories and labour market. The students have to understand the labour market structure, wage determination, unemployment, the growth pattern and the changes that have taken place in labour regulations of the country. The course also aims to introduce the various data available in the field of labour and employment such as NSS data on employment and unemployment that will enable the students to associate real situations with theories.

Course Objectives:

The course aims to help students to:

1. demonstrate the microeconomic aspect to understand the functioning of different labour markets.
2. examine the evolving wage payment mechanism and discrimination in the labour market.
3. understand the various determinants of employment, unemployment and the mobility of labour.
4. evaluate the labour regulation and labour market policies in India

Unique features of the labour market; Participants in the labour market; Labour market terminologies; Labour in classical, neo-classical and Keynesian analysis; Evolution of labour economics as a discipline post 1945; Classification of labour markets; Positive and normative economics in the context of labour markets; Labour markets and Pareto efficiency; Causes of labour market failure.

Demand for labour: Determinants of demand for labour, substitution and scale effect, short run vs. long run demand for labour; Firm, industry and market demand for labour; Elasticity of derived demand: The Hicks-Marshall rules, cross elasticity of demand for labour; Supply of labour: Static Labour-Leisure Choices-supply curve of labour; Indifference curves and budget constraints; Reservation wage; Labour market equilibrium: wage and employment determination in monopsony; perfectly competitive and monopoly labour markets; Monopoly union model and its impact on wage rate.

Wage concept and Definitions; minimum wage, living and fair wages; Methods of wage payment: time and piece wage; Wage policy; Objective and importance; Evolving wage structure and differentials in India, productivity-wage relationship in India; Labour market discrimination; Economic analysis of labour market discrimination; Employer and Employee discrimination, Statistical discrimination; measuring discrimination- the Blinder-Oaxaca model.

Determinants of employment and unemployment, Measurement issues; the human capital model, modified human capital model; the added worker and discouraged worker hypothesis; segmented labour market; job search and vacancy analysis;Gender and employment; Unemployment, causes and consequences – technology and employment – Recent trends of employment and unemployment in India; Determinants of labor mobility and migration, Offshoring-Onshoring trends and Visa policies in India.

Role of regulations in labour markets, Economic case for labour market regulations- Labour regulations in India-its impact and their enforcement-Trade unions in India-Factors affecting their growth and measures to help maintain union relevance- ILO Core Labour Standards and its impact on Indian Labour Policy- Recent trends in Working conditions- Social security and Insurance- Welfare Funds-Employment Exchanges-Vocational education and training.

Course Description: 

This course introduces students to some of the fundamental concepts for understanding international relations. It provides a fairly comprehensive overview of the major political developments and events of International. The course also explores the key issues and themes in India’s foreign policy.  

Course Objectives:

The course aims to help students to:

• introduce students to the nature, scope and importance of international relations.

• identify key concepts and theories in international politics. 

• assess the key developments in contemporary global politics and issues in Indian foreign policy. 

International Relations: Meaning, nature, scope and importance; Concepts and Theories of International Relations. 

First World War, Inter-War Years, Second World War, International Institutions- United Nations, Bretton woods institutions

Cold War: Evolution and different Phases; Disintegration of USSR; Emergence of Global South, NIEO; Post-Cold War International Politics: American Hegemony;  Rise of Multipolarity

Features, Objectives and Determinants of India’s foreign policy; India’s relations with Other Countries.

Heywood, A (2014), Global Politics, Palgrave Foundation.

Malone, D. (2011), ‘Does the Elephant Dance: Contemporary Indian Foreign Policy’ Oxford University Press.

Griffiths, M. and Terry O Callaghan (2002) ‘International Relations: The Key Concepts’.     Routledge London and New York.

 Lowe, N.(2008), Mastering Modern World, History Macmillan,New Delhi.

Pant, H. (2016) ‘Indian Foreign Policy: An Overview’ Manchester University Press.

Devatak, D, Anthony Burke and Jim George (2007), ‘An Introduction to International Relations: Australian Perspectives’, Cambridge University Press.

Goldstein, J.S. (2007), International Relations, New Delhi: Pearson.

Morgenthau, H. J. (1948)‘Politics among Nations: The Struggle for Power and Peace’, Alfred A Knopf, New York.

Waltz, K.(1979) ‘Theory of International Politics’. Addison-Wesley Publications.

Mohan,C.R. (2005), ‘Crossing the Rubicon: The Shaping of New Foreign Policy’.

Zakaria, F (2008). The Post-American World. Penguin. Viking.

Managing  finance  is  a  crucial  task  for  any  business  enterprise  and  has  to  be  handled  with  caution  else,  the  entire  business  system  could  be  at  stake.  Financial  management deals  with  important  decision-making  points  like  the  present  value  of  money,  what would  be  the  cost  of  funds,  how  to  design  the  capital  structure,  the  impact  of dividend  decisions  and  how  to  manage  working  capital  efficiently.  The  course  will emphasize  the  real-life  applications  of  the  concepts.  The  sessions  will  incorporate  the articles  and  case  studies.  The  course  will  also  include  the  use  of  Excel  functions  and analyse  data  on  actual  firms  and financial  markets. The problems  solved  in  class  will also contribute to critical thinking skills.

Course Objectives:

This course aims to:

1. introduce concepts and objectives of corporate finance.
2. understand the concept of time value in financial decisions.
3. study different techniques of investment decisions. 
4. understand the relationship between capital structure and the value of the firm.

Concepts, Business, Finance, Corporate Finance, Functions of Finance Manager, Objectives of Financial Management Finance, and Strategies to improve the wealth of the owners.

Introduction, Time Lines, Future Value, Present Value, Effective Interest Rates, Rule 72, Calculating, Interest Rate, Calculating the time required, and Loan Amortization. With Excel Functions.

Meaning, Types of Working Capital, Operating Cycle, Estimation of Working Capital Requirements. Approaches in Working Capital with Excel Functions.

Importance of Time Value of Money, Techniques of Capital Budgeting: Pay Back, Discounted Payback Period, Net Present Value, and Internal Rate of Return, Profitability Index, and Modified Internal Rate of Return. Advantages and Disadvantages of Techniques of Capital Budgeting. with Excel Functions.

Concept Cost of Debt Cost of Preference Capital Cost of Equity Capital, Different Approaches to Cost of Equity, Cost of Retained Earnings. Economic Value Addition. Computation of Weighted Average Cost of Capital Using Excel.

Meaning of capital structure and financial structure, principles of capital structure, optimum capital structure, determinants of capital structure, capital structure and EPS Point of indifference, Capital gearing, Approaches to Capital Structure: Net Income Approach, Net Operating Income Approach, M M Hypothesis without Tax Theories of capital structure- concepts, – practical problems with Excel Functions.

Introduction, Probability analysis and Expected Value, Sensitivity Analysis, Scenario Analysis, With Excel Functions.

Dividend Policy and Decisions- Irrelevance concept – Residual Approach and Modigliani and Miller Approach. Relevant Concept- Walter’s Approach and Gordon’s Approach Determinants of Dividend Policy, Types of Dividend Policy, Forms of Dividend, bonus issue, stock split. Dividend Policy and Decisions- Irrelevance concept – Residual Approach and Modigliani and Miller Approach. Relevant Concept- Walter’s Approach and Gordon’s Approach Determinants of Dividend Policy, Types of Dividend Policy, Forms of Dividend, bonus issue, stock split with Excel Functions.

Course Description:

This paper is aimed at providing the learners an overview of I/O Psychology by describing the various individual, group, and organizational behaviour at work. The areas covered in the paper include employee selection, placement, training, performance appraisal, motivation and leadership.

Course Objectives: The course aims to help students to:

●     Provide the students with an overview of Industrial and Organizational Psychology by describing the various individual, group, and organizational behaviour at work.

●     Enhance the understanding of the students about the world of work and related concerns.

●    Understand about the issues related to people in organization and the workplace.  

Definition, goals, key forces, and fundamental concepts; Major Fields of I/O Psychology.

Motivation: Definition, Types, Content Theories-Maslow’s, Herzberg. Process theories- Adam’s Equity, Vroom’s Expectancy theory;

Leadership: Definition, Leadership Styles, Approaches to Leadership; Organizational Culture: Definition, Levels, Types and Functions.

Job Analysis:  Definition, Purpose, Types and Methods; Recruitment and Selection: Nature and objectives, Sources and Process; Performance Management: Definition, Process and Tools; Training and Development: Meaning, objectives and methods.

Attitudes:  components, importance of Attitude in workplace; Job satisfaction: Factors, Impact of Job satisfaction and dissatisfaction in the workplace; Personality: Personality attributes influencing organizational Behaviour.

Concept of stress, role of Personality in stress, Type of personality; Primary source of stress:  Organizational Sources of Stress, life stressors; Impact of stress: Impacts on health, Performance; Managing stress: Individual practice, Organizational practice; Work place aggression: Work place bullying, sexual harassment, work place violence.

Singh, Narendar. (2011). Industrial Psychology, 1st Ed., Tata McGraw Hill Education Pvt. Limited., New Delhi.

Ghosh & Ghorpade, (2002). Industrial Psychology, Himalaya Publishing House.

Miner, J. B, (1992). Industrial Organizational Psychology, McGraw Hill Inc., New York, Harrell.

Mohanty, G. (2010), Industrial Psychology and Organizational Psychology, Kalyani Publishers, Ludhiana.

Schultz, D.P. & Schultz E.S., (2008), Psychology and Work Today, 6th Ed., Macmillan Publishing Co., New York.

CIA 1: Individual Assignments (Reflective essays, Scrap books, Report Writings, etc.)

CIA 2: Mid-Semester Examination(Written Examination)

Pattern:  Section A    5 x 02 = 10 marks (out of 6)

                Section B    4 x 05 = 20 marks (out of 5)

                Section C   1 x 10 = 10 marks (out of 2)

                Section D   1 x 10 = 10 marks (Compulsory)

CIA 3: Group Assignments (Research proposals,Surveys, Field Studies, Interventions,Exhibitions, etc.)

ESE: End Semester Examination (Written Examination)

Pattern:  Section A    5 x 02 = 10 marks (out of 6)

                Section B    4 x 05 = 20 marks (out of 5)

                Section C   1 x 10 = 10 marks (out of 2)

                Section D   1 x 10 = 10 marks (Compulsory)

Course Description:

The world is urbanizing at an unprecedented rate. This is majorly focused in the cities of the global south. Sprawling metropolitan areas have formed even larger agglomerations, and some very large urban regions with populations in the tens of millions have emerged. This has led to environmental degradation, overpopulation and changes in the labour market. The challenges that are associated with urbanization need to be explored to arrive at innovative solutions for managing urban growth - from affordable housing, solid waste management, to regulating land-use patterns. The course introduces students to the process of urbanization and the issues in urbanization. It then discusses the main theories in the said discipline and contextualizes the problems especially with regards to India and the global.

Course Objectives:

The objectives of offering this course are to:

1. provide students with a platform to discuss issues, theories and the process of urbanization.
2. identify how these problems manifest differently in the context of India and the Global South.
3. analyse the problems and challenges in managing the process of urban growth.
4. enable the students to apply the theoretical learning on the issues of urbanisation to gain deeper insights.

Urbanization, Urban Life, and Urban Spaces; Patterns and process of Urban development; The Origins and Growth of Cities and Urban Life; Nature and dimensions, factors initiating and perpetuating urbanization process; Characteristics of an economy passing through different stages of urbanization; Classification of Urban Areas by Demographics, Geographical and Economic Criteria; Process of Suburbanization.

Urban Spatial Structure: Features and Concepts of City Structure; Theories of Urban structure and Growth: Concentric Zone Theory; Central Place Theory; Urban Base Theory; Urban Size: Ratchet, Rank Size Rule; The Cost and Benefits of City Size, Optimum City Size; Urban externalities and growth; The Minimization of Costs of Friction Hypothesis; Location Equilibrium of an Urban Firm.

Trading Cities, Factory Cities, Innovation Cities; 21st-century Urbanization in India; The Economics of Zoning and Land Use Regulations; Agglomeration Economies, Location Decisions of Firms, Why Do Firms Cluster? Benefits and Costs of Bigger Cities, Urban Growth; The Politics of Change: Urbanization and Urban Governance; Provision and Pricing of Amenities (Public Utility Pricing); Property Tax and Municipal Finances. Urban Local Bodies, Sources of Revenue and Pattern of Expenditure of Urban Local Bodies.

Pull and Push Factors for Urbanization in India; Rural-Urban Migration Process; Growth of Formal and Informal Economic Activities in Urban Space; Skilling in the Informal Economy; Labor Force Participation and Distribution of Workers; Street Children and Street Vendors; The Role of Human Capital in Shrinking Cities.

Overpopulation and Congestion; Urban sprawls, Urbanization and Housing; Urban Poverty and Emerging New Inequalities; Urban Infrastructure: Water Supply, Sanitation and Solid waste management; Urban Transport and Peak Load Pricing; Land Use Patterns for City Growth; Urban Policy and Planning: Integrated Development of Small and Medium Towns; Measures to Manage Urban Growth: Decentralization of Industry, Growth Centers, Satellite towns; the Future of Sustainable Cities.

Bahl, R. W., & Linn, J. F. (1992). Urban public finance in developing countries. The World Bank.

Henderson, J.V. and J.F. Thisse .(eds.). (2006). Handbook of Urban and Regional Economics, Elsevier.

Henderson, V. (2002). Urbanization in developing countries. The World Bank Research Observer, 17(1), 89-112.

Knox. Paul L. (2011). Urbanisation: an introduction to urban geography, 3rd Edition, Pearson.

Misra,R.P. (2019). Million cities of India: Growth dynamics, internal structure, quality of life, and planning perspectives. New Delhi: Concept publishing pvt ltd.

Sassen, S. (2006). Cities in a world economy (3rd ed.). Thousand Oaks, Calif.: Pine Forge Press.

Sing Kumar Amit. (2010). Patterns and Process of Urban Development. New Delhi: Abhijeet Publications.

Singh, K., & Ta'i, B. (2000). Financing and Pricing of Urban Infrastructure. New Age International (P) Limited Publishers.

Sivaramakrishnan, K. C. 1., Kundu, A., & Singh, B. N. (2007). Handbook of urbanization in India: An analysis of trends and processes (2nd ed.). New Delhi ; New York: Oxford Univ. Press.

Sullivan, A. (2014). Urban Economics, 8th Edition (McGraw Hill/Irwin).

* Mid Semester Exam      ** End Semester Exam

Course Description:

This course has been designed to promote professional skills in the students. The theme identified for the third and fourth semesters is Critical thinking and professional Development. The topics identified under the theme will enable the students to understand the challenges faced during their career and allow them to face them with necessary skills. 

Course Objective :

The course aims to:

• Develop discipline specific skills for professional and personal growth.
• Provide a platform to nurture and hone skills necessary for professional development 

Students must choose MOOC courses offered by various online platforms in the specific theme given for the third and fourth semesters. This consists of review of literature, reference management system, workspace etiquettes, critical analysis writing, SOP, article analysis, writing argumentative essays, resume writing, cover letters and job finding through an online portal.

Course Description:

This course initiates discussion on some of the key issues of the Indian economy. It provides an overview of the planning process and the macroeconomic challenges and policy management in India with special reference to Karnataka. The course exposes the students to the data on various economic aspects and policies in India and Karnataka as well.

Course Objectives:

The course aims to:

1. Provide an overall understanding of the structural changes of the Indian economy.
2. Introduce theories relevant to understand the concepts of Indian economy.
3. Facilitate students to understand economic issues relevant to economic growth and development of Karnataka.

Structure of Indian Economy - 1950-80: Mahalanobis Model, Planning Commission, Green Revolution, import-substitution, taxation and the black economy, Major changes in the policy stance, State-Market relationship; Policy changes in the 1980s; Was 1990 a structural break? Indian Economy at the threshold of the 21st century; India and the subprime crisis.

Demographic trends: Population growth and size of population, aspects related to birth rate and death rate, composition and density of population, demographic transition and issues; Education: Literacy rates, enrollment rates; Primary, secondary and higher education; Technical education and skill gaps; Health and malnutrition: Trends, issues and programs

Trends and policies in poverty: Debate on poverty line; Inequality and unemployment trends; Employment generation programs and issues.

Changing role of RBI; Banks, NBFCs and Financial Institutions: their role, and regulation; Rural Banking; Financial Inclusion; Capital Markets.

Trends and growth pattern of SGDP and human development in Karnataka; Comparison with other Indian states; Problems and prospects of different sectors; State Planning process; Planning objectives and strategies, decentralized planning, intrastate disparities; education, health and housing; evaluation of recent development programs.

Overview of India’s Foreign Trade and Investments; Foreign Trade Policy – pre- and post-1990s; Make in India; India and the WTO; Exchange rate management; Evolution of FDI and FPI policy.

Iteshamul, H. (2015). A Handbook of Karnataka. Bangalore: Government of Karnataka.

Kapila, U. (2016). Indian Economy – Performance and Policies (17th ed.). New Delhi: Academic Foundation.

Misra, S. K., & Puri, V. K. (2011). Indian economy (34th ed.). Delhi: Himalaya Publishing House.

Balakrishnan, P. (2007). The recovery of India: Economic growth in the Nehru Era. Economic and Political Weekly, 42 (45-46), 52-66.

Baru, R., Acharya, A., Acharya, S., Kumar, A. S., & Nagaraj, K. (2010). Inequities in access to health services in India: caste, class and region. Economic and Political Weekly, 45 (38), 49-58.

Basu, K. (2009). China and India: idiosyncratic paths to high growth. Economic and Political Weekly, 44 (38), 43-56.

Deaton, A., & Drèze, J. (2009). Food and Nutrition in India: Facts and Interpretations. Economic and political weekly, 44 (07), 42-65.

Drèze, J., & Sen, A. (2013). An Uncertain Glory: India and its Contradictions. NJ: Princeton University Press.

Dyson, T. (2013). Population and Development: The Demographic Transition. New York: Zed Books Ltd.

Economic Survey of Karnataka 2016-17. Government of Karnataka.

Himanshu, R., & Sen, A. (2010). Towards New Poverty Lines for India. Economic & Political Weekly, 45 (1), 2-8.

Himanshu. (2011). Employment Trends in India: A Re-examination. Economic and Political Weekly, 46 (37), 43-59.

James, K. S. (2008). Glorifying Malthus: Current debate on demographic dividend in India. Economic and Political Weekly, 43 (25), 63-69.

Kapila, U. (Ed.). (2009). Indian Economy since Independence.  New Delhi: Academic Foundation.

Meti, T. K. (1976). The Economy of Karnataka: An Analysis of Development and Planning. New Delhi: Oxford & IBH Publishing Company.

Mohan, R. (2008). Growth record of the Indian economy, 1950-2008: A story of sustained savings and investment. Economic and Political Weekly, 43 (19), 61-71.

Narayana, M. R. (2004). An Overview of the Karnataka Economy'. Chapter One in Karnataka Development Report, Karnataka: Institute for Social and Economic Change

Shetty, S. L. (2007). India’s Savings Performance since the Advent of Planning. Institutions and Markets in India’s Development: Essays for K. N Raj, New Delhi: Oxford University Press.

Somasekhara, N. (1978). Planning and Development in Karnataka: Targets, Allocations, and Perspectives. Mysore: Geetha Book House.

Vaidyanathan, A., & Krishna, K. L. (Eds.). (2007). Institutions and Markets in India's Development: Essays for KN Raj. Oxford. New Delhi: Oxford University Press.

* Mid Semester Exam ** End Semester Exam

Course Description:

The course provides a strong foundation in the various theories of international economics.  It also enables the understanding of the trade policies and practices adopted in various countries as well as the impact of the same. The course exposes the students to the forms of economic integration in theory and practice.  The module on the structure of the balance of payments and foreign exchange markets gives an in-depth understanding of the same and the issues therein. The course concludes with a detailed discussion on the international monetary system and the economic crises in recent times. 

Course Objectives:

The course aims to:

1. introduce the different theories pertaining to international trade.
2. enhance the understanding of trade policies and practices adopted globally.
3. provide a theoretical and practical understanding of the forms and effects of economic integration. 
4. comprehend the interlinkages between the balance of payment, foreign exchange markets, financial liberalisation and economic crises. 

The Subject Matter of International Economics; Trade Based on Absolute Advantage; Trade Based on Comparative Advantage; Misconceptions about comparative advantage; Comparative advantage in practice.

The Basis for and the Gains from Trade with Increasing Costs; Trade Based on Differences in Tastes; The Equilibrium Relative Commodity Price with Trade; Partial Equilibrium Analysis & General Equilibrium Analysis; Terms of trade.

Heckscher-Ohlin Theory; Factor-Price Equalization, Effect of Trade on Income Distribution; The Leontief Paradox; Empirical relevance of the H-O theory in the current period; Economies of Scale and International Trade; Imperfect Competition and International Trade-Intra industry trade; Technological gap and Product Cycle models.

Partial Equilibrium Analysis of a Tariff; General Equilibrium Analysis of a Tariff in a Small Country; Import Quotas; Other Non-tariff Barriers; Neo- Protectionism

Meaning of Economic Integration, Trade-Creating Customs Unions; Trade-Diverting Customs Unions; The Theory of the Second Best and Other Static Welfare Effects of Customs Unions; ASEAN, SAARC; Multilateralism; WTO; New outlook towards a global trading system.

Balance of Payments: Principles; Disequilibrium in BOP, BOP Crisis in India in 1991 Functions of the Foreign Exchange Markets; Foreign Exchange Rates; Purchasing Power Parity Theory; Stable and Unstable Foreign Exchange Markets. Rupee Convertibility.

The Evolution of the Bretton Woods System; The IMF; Policy Coordination with Floating Exchange Rates; The Single Currency and Economic Integration; The European Monetary Union.

Financial liberalisation, capital movements and economic crises. Sustainable trade; Issues in emerging markets, international trade and ethics.

Salvatore, D. (2016). International Economics: Trade and Finance. (12th ed.). Oxford: John Wiley International Student Edition. 

Bowen, H., Hollander A. &Viaene J. (2012). Applied International Trade Analysis. London: Macmillan Publication. 

Dornbusch, R. (1980). Open Economy Macroeconomics (International Students Edition).  New York: Basic Books. 

 Kapila, U. (2018). Indian Economy: Performance and Policies. (17th ed.). New Delhi: Academic Foundation.

Krugman, P., Obstfeld, M. & Melitz,M. (2012). International Economics: Theory and Policy. (9th  ed.). New Delhi: Pearson Education.

Lobo, R. (2003). Southeast Asian Crisis: An Economic Analysis. New Delhi:  Serials Publication.

Mankiw, G. N. (2012). Principles of Macroeconomics. (6th ed.). New Delhi: Cengage Learning India.

Marrewijk, C.V. (2007). International Economics: Theory, Application and Policy. Oxford: Oxford University Press.

McGee, R. (2016). Ethics in International Trade.

Mihalcea, A. D., & Anghel, l. C. Romanian Capital Market: On the Road Toward an Emergent Market Status. Challenging the Status Quo in Management and Economics, 168.

Reddy, Y.V. (2011). Global Crisis, Recession and Uneven Recovery. Hyderabad: Orient BlackSwan.

Stiglitz, J. (2016). The Euro and its Threat to the Future of Europe. London: Penguin.

Course Description:

The course introduces students to the conceptual and practical operations of the financial markets, institutions and instruments network in Indian context.  The course gives a brief understanding of the topics of financial regulations, equity market, stock evaluation, stock returns and derivative market including hedging and arbitrage.

Course Objectives:

To train students to:

1. perceive the significance of finance by understanding the operational issues of capital and money markets.
2. analyse the economic conditions of India, before and after liberalization policies were introduced and how it contributed to several financial sector reforms. 
3. comprehend the role of capital markets, their operations, stock valuations and stock risk-return analysis.  

Role of financial intermediation - Financial markets - Money vs. capital markets - Primary vs. secondary markets - Instruments in the money market - Instruments in the capital markets -  Financial institutions; Banking and credit.

Money Market regulations – Banking sector reforms – quarterly credit policy of RBI - Capital market regulations of SEBI- Legal issues in security trading - FERA & FEMA - Capital account convertibility; International regulatory framework.

IPO and Book building process - Private vs. Public placement – Stock market indexes - Stock quotations – understanding secondary market operations.

Stock evaluation methods -    Fundamental vs. Technical analysis - Factors affecting stock prices - Economic factors - Market related factors - Firm specific factors - Indicators of future stock prices - Efficient Market Hypothesis -    Capital Asset Pricing Model (CAPM).

Measures of risk - Risk and return framework and investment decisions - Methods of determining maximum expected loss – Estimating beta of the stock.

Financial future market: Markowitz model - Valuation of financial futures - Option market - Speculation with option market – Hedging - Arbitrage and foreign exchange futures market.

Bharti, P. (2018). Indian Financial System, 5/e. Pearson Education India.

Madura, Jeff. (2015). Financial Institutions and Markets (11th ed.), Cengage Learning, USA.

Bailey, R. E. (2005). The economics of financial markets. Cambridge University Press.

Copeland, T. E., Weston, J. F., & Shastri, K. (2005). Financial theory and corporate policy. (4thed.), Pearson.

Farrell, J. L., & Reinhart, W. J. (1997). Portfolio management: theory and application. McGraw-Hill.

Fisher, E. Donald., & Jordan, J. Roland. (1995). Security Analysis and Portfolio management (6th ed.), Pearson India.

Hearth, D., & Zaima, J. K. (2001). Contemporary investments: security and portfolio analysis. Harcourt College Publ.

Hull, J. C., (2016). Futures, Options and other Derivatives (9thed.), Pearson.

Khan, M. Y. (2013). Indian financial system. Tata McGraw-Hill Education.

L. M. Bhole., & J. Mahakud.(2009). Financial Institutions and Markets (5thed.), McGraw-Hill.

Machiraju, H. R. (2010). Indian financial system. Vikas Publishing House.

Palat, R. (2010). Fundamental Analysis (4th ed.), Vision Books Pvt. Ltd.

Radcliffe, R. C. (1997). Investment Concepts, Analysis and Strategies (5thed.), Addison Wesley.

Ross, S. A., Westerfield, R., & Jordan, B. D. (2017). Fundamentals of Corporate Finance (11thed.), McGraw-Hill.

Shanken, J. (1982). The arbitrage pricing theory: is it testable? The Journal of Finance, 37(5), 1129-1140.

W. Sharpe., & G. J. Alexander. (1998). Investments (6thed.), Prentice Hall.

Zvi, Bodie, Alex, Kane., Alan, J. Marcus., Stylianos, Perrakis., & Peter, J. Ryan. (2015). Investments, (8thed.), McGraw-Hill.

Description

Introductory course on the basic principles of agricultural economics.  Production economics, principles of supply and demand, resource economics, world food situation, marketing of agricultural products, and agricultural public policy.

Objective

The objective of this course is to familiarize students with policy issues that are relevant to Indian agricultural economics and enable them to analyze the issues, using economic concepts.

Nature and Scope of Agricultural Economics; Traditional agriculture and its modernization; Role of agriculture in economic development – Models; Interdependence between agriculture and industry- some empirical evidence; Principles of land utilization; Land distribution- structure and trends; Land values and rent; Land tenures and farming systems- Peasant, capitalist, collective and state farming; Tenancy and crop sharing- Forms, incidence and effects; Land reform measures and performance; Problems of marginal and small farmers

Recent trends in agricultural growth in India; Inter regional variations in growth of output and productivity; Cropping pattern shifts; Supply of inputs- Irrigation, power, seed and fertilizers; Pricing of inputs and role of subsidies; Role of Public investment and capital formation in Indian agriculture; Strategy of agricultural development and technological progress; Economic and agricultural situation during plan periods and policy implications; Sustainable agriculture: concepts and constraints, indigenous practices; Bio-technological practices and growth potential; Organic Farming – Case Study; Live stock management-Dairy farming

Production function analysis in agriculture – factor combination and resource substitution, cost and supply curves; Size of farm and laws of returns – theoretical and empirical findings; Characteristics of demand for farm products – Concept and measurement of own-price, cross-price and income elasticities of demand and their interrelationship in agricultural sector; Quantity and quality components of demand for food; Characteristics of supply of farm products; Issues relating to specification of supply response function (Distributed lags, acreage vs. production response etc.);

Marketing and state policy; Agricultural markets and marketing efficiency- marketing functions and costs; Market structure and imperfection; Regulated markets; Marketed and marketable surplus; Behaviour of agricultural prices: Cobweb model, Price and income stability; State policy with respect to agricultural marketing, Warehousing, Prices, Taxation and crop insurance; Need for state intervention; Objectives of agricultural price policy- Instruments and evaluation; Food security in India and public distribution system; Interlocking of factor markets; Mobility of labour and segmentation in labour markets; Agricultural employment- Trends and determinants;

Terms of trade between agricultural and non-agricultural sectors; WTO and Indian agriculture-Advantages and disadvantages in relation to Indian Agriculture; Problems of Agricultural subsides, patents; Agricultural Exports -Quantitative Restrictions (QRs) and Non tariff barriers.

This course provides a comprehensive introduction to some of the advanced econometric concepts and techniques. The course begins with an introduction to lag modelling and covers distributed as well as dynamic models. Then the students will be introduced to the world of Simultaneous Equation Models and deals in depth with the issue of simultaneity and its solutions. The students will then be introduced to the analysis of two major types of data used in econometric analysis viz. time series and panel data. The course also covers different approaches to econometric forecasting. Some of the important testing procedures such as Granger Causality, Unit root tests, Seasonality tests, Structural break test, Cointegration test and Model stability tests will be introduced to the students during this course. The modules will be delivered using econometric software applications such as EViews, Gretl or STATA.

Course Objectives:

The course aims at providing students with:

1.  a comprehensive introduction to some of the advanced econometric concepts and techniques.
2. the ability to apply advanced econometric techniques in the investigation of complex economic relationships using time series and panel data.
   
3. the skills to make economic forecasting.
   
4. hands-on training in econometrics packages such as EViews, Gretl or STATA.

Lags in Econometric Models; Distributed Lag Model; Autoregressive Lag Model; Reasons for Lags; Estimation of Distributed-Lag Model, The Koyck Approach to Distributed-Lag Model; Rationalisation of Koyck Model: The Adaptive Expectations Model, Partial Adjustment Model; Estimation of Autoregressive Models; The Method of Instrument Variable; Causality in Economics: The Granger Causality Test.

Nature of Simultaneous-Equations Models; Simultaneous Equation Bias; Structural Models; Reduced Form Models; Identification Problem; Rules of Identification; Tests for Simultaneity and Exogeneity; Method of Indirect Least Squares; Method of Two-Stage Least Squares.

Introduction to Time Series; Stationary and Non-Stationary Time Series; Spurious Regression; Unit Root Tests: Dickey-Fuller and Augmented Dickey-Fuller Tests; Transforming Nonstationary Time Series; Cointegration: Testing for Cointegration, Error Correction Mechanism.

Approaches to Economic Forecasting; ARIMA Models; The Box-Jenkins Methodology; Vector Autoregression; Forecasting with VAR; Testing Causality using VAR.

Introduction to Panel Data; Constant Coefficient Model; Fixed Effect LSDV Model; Fixed Effect WG Model; Random Effects Model, Properties of Estimators.

Gujarati, D. N., Porter, D.C., & Gunasekar, S. (2017). Basic Econometrics (5th ed.). McGraw Hill.

Studenmund, A. H. (2016).  Using Econometrics: A Practical  Guide. (7 th  ed.). New Delhi: Pearson 

Greene, W. H. (2000). Econometric Analysis (4th ed.). Prentice Hall.

Hamilton, J. D. (1994). Time Series Analysis. Princeton University Press.

Koutsoyiannis, A. (1973). Theory of Econometrics, Harper & Row.

Patterson, K. (2000). An Introduction to Applied Econometrics: A Time Series Approach. Palgrave.

Pindyck, R. S., & Rubinfeld, D. L. (1990). Econometric Models and Econometric Forecasts (4th ed.).McGraw-Hill.

Wooldridge, J. M. (2002).  Econometric Analysis of  Cross Section and Panel Data Massachusetts: MIT Press. 

This course should be accessible to anyone with an analytical mind and familiarity with basic concepts of economics. Since several environmental problems are caused by economic activity, for instance, carbon emissions, over-harvesting of renewable resources and air and water pollution as a by-product of industrial activity, this course examines different approaches to adjusting behaviour through economic institutions such as markets and incentives as well as through regulation, etc. It also addresses the economic implications of environmental policies through practical applications of methods for valuation of environmental goods and services and quantification of environmental damages. Conversely, the impact of economic growth on the environment is also addressed under the rubric of sustainable development. Environmental problems and issues from the Indian and international context (especially global warming) are used to illustrate the concepts and methods presented in the course.

• To introduce the students to concepts, methods and policy options in managing the environment using tools of economic analysis.
• To enable the students to understand the economic implications of environmental policies and environmental issues

Introduction to environmental economics; Definition, Nature and Scope; Nexus between environment and economy; Key environmental issues and problems, Material balance principle, Renewable and non-renewable energy sources, Tragedy of commons, common pooled resources, Hotelling’s rule; Pareto optimality and market failure in the presence of externalities.

Overview, Pigouvian taxes and effluent fees, tradable permits; Liability Rules; Pollution Control Boards; Legislative measures of environmental protection in India; Implementation of  environmental policies in India and international experience; Transboundary environmental problems; Economics of climate change.

Concepts of environmental value; Total economic value; Valuation of non-market goods and services-theory and practice; measurement methods; Revealed preference methods – travel cost, hedonic pricing; Stated preference methods – Contingent valuation, choice experiment; Costbenefit analysis of environmental policies and regulations.

Concepts; Measurement; Rules for sustainable development, Indicators of sustainable development; Perspectives from Indian experience; Ecosystem services and human well-being; Trade-off between environmental protection and economic growth; Environmental Kuznets’ curve.

 MSE*: Mid-Semester Examination, ESE**: End-Semester Examination

Course Description:

This course exposes students to the theory and analytical understanding of the industrial sector of the economy. This course provides an introduction to the fundamental concepts, nature and scope of industrial economics followed by market concentration analysis.  It also discusses productivity studies with reference to the Indian industries and the impact of government policies on the Indian industries since independence.

Course Objective:

The course aims to help students to:

1. examine industrial models and their links in practice, with a special accent on government policy. 
2. understand various industrial productivity concepts and methods of measurement. 
3. provide insight and exposure to industrial development in India.

At the end of the course, the student will be able to:

1. outline the basic idea about the issues and policies pertaining to the industry's environment.
2. demonstrate and explain various industrial productivity concepts and measurements.
3. examine industrial development in India and government regulations.

Nature and scope of Industrial Economics; Concepts in Industrial Economics; industry, market, market structure, market conduct and Market Power; Organisational Structure of a Firm; Objectives of firms; Theories of the firm: Behavioural theory; The transaction cost theory; Resources based theory of the firm.

An overview of standard forms of market structure: Concept of Workable Competition; Definition of market concentration; Concentration indices; Market power measures; Concentration and market performance; Vertical integration: Types of vertical integration; Incentives to vertical integration; Effects of vertical integration for the economy; Merger: types; Motives for merger and implication for public policies.

Need of finance; Types of finance; sources of finance; Choice of funding; Development Banking: IDBI, IFCI and SFCs; Factors Influencing the Location of Industries; Theories of Industrial Location: Weber, Sargent Florence; Industrial location trends in India.

Concept and measurement of productivity; Empirical evidence of productivity in Indian industries; Industrial sickness; Under-utilization of capacity; factors accounting for it and consequences.

Industrial structure at the time of Independence; Globalization and its impacts on industries; Recent trends in Industrial growth and diversification; International competitiveness of Indian industry; Privatization and issues relating to disinvestment policy; Need for or government intervention in the industry; Industrial regulations in India.

Cable, J. R. (1994). Current Issues in Industrial Economics. London: Macmillan.

Ferguson, P. R., & Ferguson, G. (1994). Industrial Economics: Issues and Perspectives. New York: NYU Press.

Hay, D. A., & Morris, D. J. (1991). Industrial Economics and Organization: Theory and Evidence. Oxford: Oxford University Press.

Howe, W. S. (1978). Industrial Economics: An Applied Approach. London: Macmillan.

Martin, S. (1994). Industrial Economics: Economic Analysis and Public Policy. New Jersey: Prentice Hall.

Narayan, B. N. (1997). Industrial Economics: A Special Study for Students of MBA, M. Com., and MA. Bengaluru: Anmol Publications.

Phlips, L. (Ed.). (1998). Applied Industrial Economics. Cambridge: Cambridge    University Press.

Course Description:

One of the requirements for the completion of the BA Economics Honours programmes at CHRIST (Deemed to be University) is to conduct original research work under the guidance of a faculty member, and submit it in the form of a research dissertation. Having undergone extensive training in Mathematical Economics, Statistical Methods, Research Methodology and Econometrics, this course enables students to demonstrate an understanding of how to apply their theoretical knowledge to practice by investigating and carefully evaluating real-time economic issue(s).

The dissertation should be a minimum of 10,000 words in length (or approximately 35 pages) formatted following the APA 7th Edition guidelines. The word count includes the title, table of content, text, tables, citations, quotations and footnotes. The certificate pages, acknowledgement page, the abstract (150 - 250 words, with 5 Keywords), the reference list, and the appendices are excluded from the word count.

This paper is intended to guide students through the formative work of working towards their dissertation.

Course Objectives:

The course aims to:

1. orient students to new fields of research in economics.
2. inculcate in students the rigour of research work.
3. imbibe in students the spirit of inquiry.
4. train students to do academic reading of journal articles
5. train the students in the application of different research tools in social science.

The dissertation work is carried out under the guidance of a faculty with scheduled meetings for discussion of the progress of the work and timely interim presentations before a panel of faculty to assess the quality of the work. The final submission of the dissertation is followed by a viva voce on the topic of the research.

Course Description:

One of the requirements of B.A. Economics (Honours) students at CHRIST (Deemed to be University) is the ability to apply theoretical knowledge acquired in their course to practical applications.  Hence, the students are expected to complete a short internship during the summer break after the fourth semester as part of the course curriculum.   Having undergone extensive understanding/training in Economic theories, Mathematical Methods, Statistics, Research Methodology, and Basic and Applied Econometrics, this course enables students to demonstrate an understanding of how to apply theoretical knowledge to practice in different organizations/institutions of their choice.  The minimum duration of the internship is stipulated as four weeks.  It is evaluated on the basis of set criteria out of 50 marks and has a maximum of two (2) credits.

Course Objectives:

The course aims to help students to:

1. apply theoretical knowledge to practical, real-life problems.
2. analyse data/information through a scientific method.
3. apply the acquired skills in practical application(s) and gain industry experience.

The students are expected to identify and communicate to the organization/ institution where they want to pursue their internship, and the same should be communicated to the Department of Economics and approved before the internship commences.  As a requirement, the students must submit a letter confirming their internship from the interning organization/ institution.  After completing the internship, the students should submit a final Internship Report, internship diary, and completion certificate for evaluation at the Department level.