M.A. Economics Syllabus (VBU Hazaribag)

SEMESTER-I
ECN-F01
FOUNDATION OF QUANTITATIVE ECONOMICS

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Elementary Analytical Geometry

1.1 Solution of Equation in one Variable and Simultaneous equation in two variables

1.2 Equation of Straight line and parabola

1.3 Set Theory and its operations.

Module- II Introduction to Differential Calculus

2.1 Functions and graphs, Exponential and logarithmic function, Limit and Continuity

2.2 Derivatives, Partial Differentiation and their application in Economics

2.3 Elasticity of Economic Functions, Relation Between AR, MR and Elasticity of Demand

2.4 Production function, Young's Theorem, Homogenous function and Euler's Theorem

Module - III Differential Calculus and Extreme Values (Optimization)

3.1 Maxima and Minima, Point of Inflexion & their uses in Economics

3.2 Pricing under Perfect Competition, Monopoly, Duopoly, Taxation in Monopoly Market

3.3 Unconstrained Optimization of a function of several variables

3.4 Constrained Optimization: Equality Constrained Optimization

Module- IV Integral Calculus and Economic Dynamics

4.1 Indefinite integrals and inverse differentiation

4.2 Technique of integration, Integration by substitution-integration by parts, definite integration

4.3 Integration and Application to Economic Dynamics (Consumer Surplus, Producer's Surplus)

4.4 Definite integrals and approximate integration

Module - V Determinant & Matrix Algebra

5.1 Determinant and its properties,

5.2 Matrix Operations

5.3 Inverse and Solution of Equation by determinant

5.4 Rank of Matrix

SEMESTER-I
ECN-C02
MICRO ECONOMIC ANALYSIS

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module- I Fundamentals of Consumption & Production

1.1 Economic models: Basics of model building, Characteristics of equilibrium System

1.2 Approaches to Consumer Behaviour; Indifference Curve Analysis, Derivation of Demand Curve from Indifference Curve Analysis; Revealed Preference approach, Revision of Demand Theory by Hicks

1.3 Iso-quant, Marginal Rate of technical substitution, Elasticity of substitution Least cost combination of inputs

1.4 Return to scale, change in scale and factors proportion.

Module - Il Production & Distribution

2.1 Production function: Cobb-Douglas Production Function and Its Properties

2.2 Marginal productivity theory under different Market condition and Modern theory of distribution; Product exhaustion theorem;

2.3 Factor pricing in perfect and imperfect factor markets; Classical and Modern theories of Wage, Keynesian and modern theory of Interest, Risk, uncertainty & innovation theory of profit

2.4 Macro theories of distribution - Ricardian and Marxian, Neo-Classical theories of Microdistribution (Kaldor)

Module - III Advance Theories (Theory of Demand an Alternative Approach)

3.1 Consumer Choice involving Risk,

3.2 Indirect Utility function and Duality theorem

3.3 Modern Theory of Consumer Surplus

Module - IV Welfare Economics - I

4.1 Definition, scope and purpose of Welfare Economics, Concept of Social welfare; Measurement of Welfare;

4.2 Role of Value Judgments in Welfare Economics, Pigou's Welfare Economics;

4.3 Pareto optimality - Optimum exchange conditions; The production optimum;

4.4 The consumption optimum; Concept of contract curve;

Module - V Welfare Economics - II

5.1 Compensation criteria - Contributions of Kaldor and Hicks

5.2 Scitovsky double criterion,

5.3 Bergson's, Samuelson social welfare function,

5.4 Arrow's possibility theorem, A. K. Sen's contribution in welfare economics

SEMESTER-I
ECN-C03
MACRO ECONOMIC ANALYSIS

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-1, Consumption Function

1.1 Keynes Psychological law of consumption, Income- Consumption relationship,

1.2 Absolute income, Relative income, Life Cycle and Permanent income Hypothesis.

1.3 Consumption and Asset Price

1.4 Consumption under Uncertainty - Modern Approach

Module-II Investment Function

2.1 Marginal Efficiency of capital and investment - long run and short run, Factors affecting Investment Function, Derivation of MEC

2.2 Investment Multiplier,

2.3 Acceleration Principle, Investment Behaviour,

2.4 Super Multiplier, Tobin's 'q' of Investment

Module - III Macro Economic models

3.1 Classical Macro Economic Model

3.2 Neo-Classical Macro Economic Model

3.3 Keynesian Macro Economic Model

3.4 Post Keynesian Macro Economic Model Rational and Adaptive Expectation Model, Mundell Fleming Model

Module - IV Theories of Inflation

4.1 Classical, Keynesian and Monetarist approaches to Inflation; Structuralist theory of inflation,

4.2 Inflationary Gap, Measures to remove the gap, Demand Pull and Cost Push theory of inflation.

4.3 Phillips curve analysis -Short-run and long-run; The Natural rate of Unemployment Hypothesis; Tobin's modified Philips Curve.

4.4 Control of Inflation by Monetary, Non Monetary and fiscal measures

Module - V Economic Fluctuation

5.1 Business cycle- Nature Scope, Phases, Monetary and Non Monetary Theory

5.2 Traditional Theories of business Cycle (Schumpeter's and Kaldor)

5.3 Business Cycle Theories of Hicks and Samuelson

SEMESTER-I
ECN-C04
ECONOMICS OF ENVIRONMENT AND SOCIAL SECTOR

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Basics of Environmental Economics

1.1 Economic Development and Environment- Inter-relationship between Economic Development and Environment

1.2 Sustainable Development - Concept, Characteristics and Sustainable Development Goals (SDGs)

1.3 Concept of Externalities, Types and Measures to control Negative Environmental ExternalitiesPigovion tax, Property Rights and Coase theorem, Carbon tax.

1.4 Properties of Environmental goods - Public goods/ private goods.

Module - II Environmental Issues

2.1 Environmental Management- Concept, Types and Methods of Environmental Management; Environmental management and people's participation (PPP).

2.2 Environmental Degradation- Land forest and natural resource degradation.

2.3 Problems of Pollution- Air Pollution and Water Pollution; National Environmental Policy.

2.4 Social Forestry- Rationale and Benefits.

Module III: Environmental Valuation & Accounting

3.1 Concept of Environmental Values- Use Value, Non-use Value and Option Value. Basics of the valuation of environment- Contingent Valuation Method, Travel Cost Method, Hedonic Price Method.

3.2 Environmental Accounting: Objectives forms, functions & importance, Financial Performance and Environmental function.

3.3 Natural Resource Management, Introduction to Natural resource accounting, Salient features of System of Environment and Economic Accounting, Green Accounting, Natural Resource Policies of India.

Module - IV Economics of Social Sector-1

4.1 Social Sector - Importance of Social Sector, Education and Health,

4.2 Human Capital Vs Physical Capital, Education as Instrument of Economic Growth

4.3 Human Capital Formation- Concept and Role in Social Sector Development

4.4 Cost of Education - Expenditure on Education, Education Sector- Status, Problems, Solutions and Financing of education in India, Benefit of Education

Module - V Economics of Social Sector - II

5.1 Health Sector-Status, Problems, Determinants of health

5.2 Poverty, malnutrition and environmental issues,

5.3 Solutions and Financing of Health Sector

SEMESTER-II
ECN-S05
THEORY OF STATISTICS

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Statistical Method - I

1.1 Simple Correlation: Karl Pearson's and Product Moment Method; Rank Correlation,

1.2 Standard Error of Estimates and Probable Errors estimates; Partial and Multiple Correlation

1.3 Regression Analysis: Regression Coefficients and its properties, Estimation of lines of Regression

1.4 Time series analysis: importance and components, Estimation of trend value by least square method.

1.5 Application of Statistics by Excel: Measures of Central Tendency and Measures of Dispersion

Module - Il Statistical Methods - Il

2.1 Classical and empirical definition of Probability; Theorem of Probability (Addition Theorem).

2.2 Conditional probability, Multiplication theorem, Extention of multiplication theorem, Bayes theorem

2.3 Random variables and distribution function, Probability density function, Marginal density function.

Module-III Theoretical Probability Distribution

3.1 Discrete and Continuous Probability Distribution

3.2 Binomial, Poisson Distribution (Constants, Mode and fitting of distribution)

3.3 Normal Distribution, properties of Normal Distribution and equation of Normal Probability curve.

3.4 Relation between Binomial and Normal Distribution.

Module-IV Sampling Theory

4.1 Sampling Theory, Basic Concept, Types, Census Vs Sampling

4.2 Principle of Sampling. Types, Limitation and Errors in Sampling

4.3 Sampling Distributions, Sampling Distribution of Means

Module V Statistical Decision Theory

5.1 Statistical Hypothesis, Hypothesis Testing Type - I and Type-II errors. Error in hypothesis testing

5.2 Null and Alternate Hypothesis, Formulation of Hypothesis, level of Significance

5.3 Significance of tests in small sample: Test of significance based on t, F and z distribution.

5.4 Definition of Chi-Square,X², X²-test.Chi square test for degree of freedom, contingency Table (2x2)

SEMESTER - II
ECN-C06
Money & Financial Markets

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Supply of Money

1.1 Approaches towards determination of money supply Traditional Approach, Sukhmoy Chakarbarty Committee approach, RBI Approach to Money Supply & Recent changes

1.2 Determinants of Money supply- High Powered Money and Money Multiplier.

1.3 Control of Money Supply - Policy Rates and Reserve Ratio.

Module - Il Demand for Money

2.1 Classical Approach to Demand for Money - Quantity Theory Approach (Fisher and Cash balance)

2.2 Keynes's demand for money

2.3 Post Keynesian Approach to Demand for Money - Patinkin and Real Balance Effect, Friedman

2.4 Modern Approaches of Demand for Money-Baumol and Tobin's (Introduction to P ortfolio balance effect)

Module - III Money and Capital Markets

3.1 Role and structure of money market in India, Instruments of money market

3.2 Sub market - Call money market, Treasury bill market, Discount market,

3.3 Securities market - Markets for derivatives; Future and options and other derivatives; Primary and secondary market for securities

3.4 SEBI-Its impact on working of capital market in India, IRDA and its role in financial markets.

Module - IV Foreign Exchange Markets

4.1 Exchange rates -floating exchange rates

4.2 Spot market and Forward market, Interest arbitrage,

4.3 Foreign exchange market - exposure and management

Module - V Portfolio Analysis and Mutual funds

5.1 Risk and returns of individual security (Insurance)

5.2 Portfolio risk and returns

5.3 Concept of efficient portfolio

5.4 Venture Capital and Mutual funds

SEMESTER - II
ECN-C07
INDIAN ECONOMIC POLICY

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-1 Framework and Challenges of Indian Economy

1.1 Trends and Growth of Indian Economy

1.2 Indicators of Development, PCI, PQLI, HDI, GDI

1.3 Poverty: Causes, Remedies and measurement, Multi-dimensional poverty index, Deprivation index

1.4 Employment: Problems, Solutions and Government Initiatives

1.5 Gender issues: Gender discrimination and Women empowerment

Module - Il Development Strategies in India

2.1 Planning in India: Objectives, strategies and evaluation,

2.2 NITI Aayog and its role in planning in India

2.2 Planning and Decentralization (Panchayati Raj Institutions)

2.3 Economic Reforms in India

Module - III Agriculture and Allied Sector

3.1 Issues and Concerns in Indian Agriculture and Allied Sector (fisheries, Horticulture, Dairy, and Poultry)

3.2 Agriculture Finance, Agricultural Marketing

3.3 Cropping pattern in India - factor determining cropping pattern, Dry land farming, Contract Farming

3.4 Agricultural holdings in India - Subdivision and fragmentation of holdings, Organic farming in India

Module-IV Sectoral Performance - II

4.1 Industrial Sector in pre- Reform Period

4.2 Industrial Sector in Post reform period with emphasis on small-scale Sector

4.1 Infrastructure: Transport, Energy and communication

4.2 Social Infrastructure, components, assessments and policies

Module-V India and Foreign Trade

5.1 India's Foreign Trade: Direction and Composition and Balance of Payment of India

5.2 New Trade policy (EXIM Policy) FERA, FEMA

5.3 India and International institutions, Regional Blocks, BRICS, SAFTA, EU

5.4 Multinational Corporations and Foreign Capital

SEMESTER - II
ECN-C08
ECONOMICS OF GROWTH AND DEVELOPMENT

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Theories of Development

1.1 Economic Growth and Development: Concept, measurement and Indicators of Economic Growth

1.2 Factor affecting Economic growth - Capital, Labour and Technology

1.3 Schumpeter and Capitalistic development, Innovation: Role of credit, Profit and degeneration of capitalism

1.4 Marxian Theory of Development

Module - Il Economic Growth - I

2.1 Harrod-Domar Growth Model, Knife edge problem

2.2 Neo-Classical growth Models-Solow, Mrs. Joan Robinson's growth model, Kaldor, Lucas

2.3 Sectoral Models of Economic growth - Mahalanobis growth models

2.4 A. K. Sen Growth Model

Module - III Economic Growth - II

3.1 Technological progress-embodied and disembodied; Production function approach to economic growth

3.2 Growth models of Hicks and Golden Rule of accumulation; intellectual capital;

3.3 Explanation of cross country differentials in economic growth.

Module - IV Social and Institutional Aspects of Development

4.1 Development and Underdevelopment - perpetuation of underdevelopment

4.2 Poverty - Absolute and Relative; Measurement, Causes and alleviation of poverty, Dependency Theory

4.3 Inequality and development inter-linkages: Kuznets

Module - V Partial theories of Growth and Development

5.1 Vicious circle of poverty; Circular Causation

5.2 Unlimited supply of labour; Ranis and Fei model, Big push Theory

5.3 Balanced and unbalance growth, Critical minimum-effort thesis

5.4 Harris Todaro model, Stiglitz labour turnover model

Semester III
Choice Base
ECN-A09        Open Elective For Other Than Economics Students

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Module -I Micro Economics

1.1 Law of demand and supply, Elasticity of demand,

1.2 Consumer's equilibrium,

1.3 Indifference curve Income, Substitution and price effect,

1.4 Derivation of demand curve from indifference curves,

1.5 Consumers Surplus.

Module - Il Macro Economics

2.1 Concept and measurement of national income,

2.2 Keynesian psychological law of consumption,

2.3 investment function and its determinants,

2.4 Theory of the multiplier

2.5 Inflation and its control.

Module-III Public Finance

3.1 Theory of maximum social advantage,

3.2 Ability to pay approach,

3.3 Incidence of taxation,

3.4 Wagner's law of increasing state activities, effects of taxation and public expenditure,

3.5 Taxable capacity types of taxation, GST, 14 finance commission.

Module-IV International Trade

4.1 Classical theory of international trade, - Theories of comparative cost

4.2Theory meaning and components of BOP, equilibrium and disequilibrium in balance of payment,

Factors causing disequilibrium in balance of payment and its correction,

4.3 Fixed and flexible exchange rates, demand and supply theory of exchange rate determination,

4.4 Functions of IMF and World Bank.

Module - V Basic Concept of Economic Development and Growth

5.1 Definition Concept and Determinants of Development, Recent Trends of Economic development in India

5.2 Sustainable Development indicators of economic development and Distribution

5.3 Development indices in India, HDI, GDI, MPI, HPI(I), HPI(II)

SEMESTER-III
ECN-C-10
MICRO ECONOMIC ANALYSIS - II

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-I Theory of Market - I

1.1 Equilibrium of firm & industry under perfect competition

1.2 Monopoly: Monopoly Power, Profit Maximization and output choice, Monopoly and product quality, Price Discrimination

1.3Monopolistic Competition: General and Chamberlin Approach of equilibrium, Product differentiation, selling cost

1.4 Bilateral Monopoly

Module - II Theory of Market -II

2.1 Oligopoly with fixed number of firms, Traditional model of oligopoly-Cournot, Edgeworth

2.2 Kinked Demand curve and Collusive - Cartels and Mengers, Price Rigidity

2.3 Price leadership at basin point price system

Module-III Alternative Theory of Firms-1

3.1 Critical evaluation of marginal Analysis, Baumol's Sales revenue Maximization Model

3.2 Williamson's Model of Managerial Discretion

3.3 Marris Model of Managerial Enterprise, full cost pricing rule behavior model

3.4 Bains limit pricing theory

Module - IV Alternative Theory of Firms - II

4.1 Behavioural Model of Cyert and March

4.2 Goals of firm: Sacrificing Behaviour, Process of Decision Making

4.3 Simple Model of Behaviourism

4.4 Game Theory Model

Module - II Market Equilibrium

5.1 Partial and general equilibrium,

5.2 Walrasian excess demand and input-output approaches to general equilibrium, existence, stability and uniqueness of equilibrium;

SEMESTER - III
ECN-C11
PUBLIC FINANCE

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Public Expenditure

1.1 Theories of the Growth of Public Expenditure- Wagner's law of increasing state activities and Wiseman Peacock hypothesis,

1.2 Structure and Growth of Public expenditure in India, Effects of public expenditure on Production, Distribution and Economic Stability.

1.3 Budgeting Systems- Performance Budgeting, PPBS and Zero based budgeting.

Module - Il Taxation

2.1 Theory of Incidence; Dalton's and Musgrave's concepts of incidence- Taxable Capacity

2.2 Benefit and Ability to pay approaches, theory of optimal taxation

2.3 Indian Tax system, revenue of the Union, States and Local bodies; Major taxes in India

2.4 Reforms in direct taxes, taxes on services, GST, Non tax revenue of Central, State and Local Bodies

Module - III Public Debt and Public Sector Pricing

3.1 Classical View of Public Debt: Compensatory aspect of debt policy

3.2 Sources; effect and burden of public debt; Public debt and economic growth

3.3 Public debt and inflation, Public debt as a means of regulating economy

3.4 Principles of debt management and repayment.

Module - IV Fiscal and Monetary Policies

4.1 Objectives of Fiscal Policy- full employment, anti- inflation, economic growth, redistribution of income and wealth

4.2 Interdependence of Fiscal and Monetary policies,

4.3 Budgetary deficits, fiscal deficit, Revenue deficit and Monetary deficit its implications

4.4 Fiscal policy for stabilization- automatic V/s discretionary stabilization

Module - V Fiscal Federalism in India

5.1 State financial relation in Indian union budget, Expenditure pattern

5.2 Analysis of Union budget, Lack of flexibility in budget

5.3 Resource transfer from union to state and role of Finance commission

5.4 Fiscal crisis and fiscal sector reform in India

SEMESTER - III
ECN-C12
INTERNATIONAL ECONOMICS

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Theory of International Trade

1.1 The theory of International trade theories of comparative cost advantage and opportunity costs.

1.2 Heckscher-Ohlin theory of trade, Leontief Paradox.

1.3 Samuelson Factor Price equalization Theorem, Stopler Samuelson's Theorem

1.4 Modern Theories of Trade: Strategic trade theory, N. N Trade Theory

Module - Il Theory of Interventions and Gains from Trade

2.1 Economic effects of tariffs and quotas on national income, output, employment, Nominal, effective and optimum rates of tariffs - their measurement and impact.

2.2 Concept of Terms of trade, Theory of reciprocal demand, Factors affecting terms of trade

2.3 Nature of Gains, Sources of gains, Factor determining Gains

2.4 Criteria for measuring Gains from International Trade.

Module - III Monetary aspects of International Trade

3.1 Meaning and Components of Balance of Payments; Equilibrium and disequilibrium of Balance of Payments

3.2 Theory of Balance of Payment: Monetary and Absorption Theory, Elasticity Approach

3.3 Factors causing disequilibrium in balance of payments and its correction

3.4 Foreign Trade Multiplier

Module - IV Exchange Rate

4.1 Concept of Foreign exchange rate, fixed and flexible exchange rates, Convertibility of currency

4.2 Devaluation -Devaluation of Indian Rupee and its impact on our economy

4.3 Theories of exchange rate determination.

Module - V - International Economic Co-operation & Organisation

5.1 Forms of economic cooperation; Static and dynamic effects of a custom union and free trade areas

5.2 Rationale and economic progress of SAARC regions, Asian Development bank- their achievements and shortcomings.

5.3 Reforms of the International monetary system, India and developing countries

5.4 Functions of WTO, IMF, World Bank

SEMESTER - IV
GROUP - 'A'
ECN-E13
MATHEMATICAL ECONOMICS & OPERATION RESEARCH

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Micro Economics Application

1.1 Utility Maximization: Cardinal and Ordinal utility maximization, Indirect Utility Function and Duality theorem, Substitution Effect and Slutsky equation

1.2 Compensated and normal demand function; Revealed preference theory

1.3 Homogeneous production function; Properties of Cobb-Douglas production function, Euler's Theorem, Production possibility curve; Technical progress through production function.

1.4 Cobweb model: (Supply lag and Demand Lag) Simple Continuous Cob-web Model and Model with stocks, Single market equilibrium - Marshallian and Walrasian equilibrium conditions

Module - Il Macro Economic Application

2.1 Difference Equations: Distributed and Lagged, First and second order difference equation.

2.2 Differential Equations: First order and second order differential equation (general and particular solution) with economic application;

2.3 Dynamic monetary model; Static and dynamic multiplier; Determinants of investment; Accelerator,

2.4 Harrod Problem, Harrod- Domar growth model.

Module - III Theory of Matrix and Linear Programming

3.1 Matrix: Symmetric and Skew - Symmetric; Orthogonal matrix, Characteristics roots and vectors; Idempotent matrix; Quadratic forms, Solution of equations by matrix method

3.2 Linear Programming, Primal and Dual; Steps in construction of dual duality theorem

3.3 Solution of linear programming by graphical method.

Module - IV Game Theory and Input Output Analysis

4.1 Concept of Game theory; Pure and Mixed strategies; Maximum and Mini-max solution; Saddle point; Solution of Games by pure and mixed strategy

4.2 Graphical solution of Games 2x2 Pay off matrix.

4.3 Input Output Analysis Open and Closed systems; Hawkins Simon Conditions; Solution under three industries.

SEMESTER - IV
GROUP - 'A'
ECN-E14
ADVANCED ECONOMETRICS-I

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-I Introduction to Econometrics

1.1 Nature, Meaning scope and importance of econometrics

1.2 Stochastic term and its importance, Assumptions of error terms

1.3 Simple Regression Model, Estimation of Parameters and properties of Least square estimates

1.4 Gauss Markov theorem; Concept and derivation of R² and Adjusted R²;

Module - II Econometric Problems in Regression Analysis

2.1 Nature, Test, Consequences, Reasons of Multicollinearity and Heteroscedasticity and their corrections, Transformation of Heteroscedasticity into Homosaedesticity

2.2 Transformation of non-linear into linear ones; logarithmic, reciprocal and logarithmic reciprocal.

2.3 Auto correlation, First order Auto regressive scheme, Mean, variance and co-variance of auto corelated U's, Durbin Watson test and graphical test.

2.4 Problems of Auto-correlation - Application, Almond Approach to distributive lag model.

Module - III Regression with Qualitative Independent variables

3.1 Dummy variable technique testing structural stability of regression models, Seasonal analysis, Piecewise linear regression, Use of dummy variables;

3.2 Regression with dummy dependent variable; LMP, LOGIT, PROBIT and TOBIT model & its applications

3.3 Autoregressive and distributed lag models - Koyck model

Module - IV Dynamic Econometric model

4.1 Partial adjustment model (PAM)

4.2 Error correction mechanism, causality test, Granger test

SEMESTER - IV
GROUP - 'A'
ECN-E15
ADVANCED ECONOMETRICS - II

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-1 Simultaneous Equation Model

1.1 The Simultaneous equation - Bias and inconsistence of OLS estimators; Structural form and reduced form models;

1.2 The identification problem; Rules of identification; Order and rank conditions.

1.3 Methods of estimating simultaneous equation system, recursive methods of OLS;

1.4 Indirect least squares (ILS); Two-stage least square (25LS);

Module - Il Time Series Analysis

2.1 Stationary and Non-stationary Time series and Unit roots co-integration - Spurious regression,

2.2 Dickey Fuller Test, Engle Garner test, Random Walk Model

2.3 AR, MA and ARIMA, Estimation of ARIMA and forecasting with ARIMA,

2.4 Vector Auto Regression (VAR), Problem with VAR Modeling, Box - Jenkins (BJ) Method

Module - III Multivariate Analysis

3.1 Maximum Likelihood (M-L) method,

3.2 General linear model (GLM), Generalised Least Square (GLS)

3.3 Multivariate probability distribution: Multivariate normal distribution and its properties, Marginal and Conditional probability distribution,

3.4 Discriminant analysis.

SEMESTER - IV
GROUP - B
ECN-E13
AGRICULTURE & LABOUR ECONOMICS
AGRICULTURE ECONOMICS - I

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Agriculture and Economic Development

1.1 Nature and scope of agriculture and rural economics: Traditional agriculture and its modernization;

1.2 Role of Agriculture in Economic Development; Sustainable Agriculture.

1.3 Problems of Inputs in Indian Agriculture: Irrigation, Power, Seeds, Fertilizer

1.4 Agricultural Development in India, Recent trends in agriculture growth in India

Module - Il Diversification of Rural Economic Activities

2.1 Livestock economics - livestock resources and their productivity; Problems of marketing;

2.2 White revolution; Fishery and poverty development; Forestry, horticulture;

2.3 Rural Non-Farm Sector (RNFS) uses and challenges

Module - III Agricultural Productivity and Marketing

3.1 Agricultural production: Resource use and efficiency production function analyses in agriculture.

3.2 Factor combination and resources substitution cost and supply curve size of farm and Productivity debate in India, laws of returns

3.3 Resource use efficiency in traditional agriculture; Technical change, labor absorption, Feminization of Agriculture

3.4 Marketing and state policy, Agricultural Markets and marketing efficiency-marketing functions and costs

Module - IV Land Reform, Land Policy & Co-operation in India

4.1 Land Reform measures and performance; Recent Changes in Land Policies

4.2 Land utilization; Land distribution structure and trends; Rent; Land tenures and Farming systems -collective and state farming; Tenancy and crop sharing-forms, with special reference to India.

4.3 Co-operative movement in India; Genesis and growth of co-operative sector; agricultural cooperation in India;

4.4 Problem and prospect of cooperative institutions.

Module-V Rural Labour Market

5.1 Rural Labour Supply, Interlocking of factor markets; Mobility and Productivity of labour

5.2 Wage Determination: Classical, Neo-classical and bargaining theories of wage determination; Concept of minimum wage, leaving wage and fair wage in theory and practice; National wage policy; Bonus systems and profit sharing.

5.3 Nature extend and trends in rural unemployment, Agricultural wages in India, Male-female wage differences

5.4 Non-Agricultural rural employment - trends and determinants.

SEMESTER - IV
GROUP - B
ECN-E14
AGRICULTURE ECONOMICS & RURAL LABOUR - II

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Economic of Rural Infrastructure

1.1 Problems of Rural Economy - Economic, social and others, Modes and problems of rural electrification

1.2 Use of Land, water and energy; rural transport, communication

1.3 Problems of Rural finance; Rural credit, Financial inclusion

1.4 Rural social infrastructure-education and health and information dissemination

Module - II Agricultural & Rural Finance

2.1 Need of agriculture finance, Role of capital and rural credit; rural saving and capital formation

2.2 Characteristics and sources of rural credit - Institutional and non institutional; reorganization of rural credit - cooperatives, commercial banks, Regional rural banks

2.3 Role of NABARD

Module - III Agricultural Prices

3.1 Marketing and State Policy: Agricultural markets and marketing efficiency, Regulated marketed and marketable surplus, Behaviour of agricultural price - Cobweb model

3.2 Price and income stability; State policy with respect to agricultural marketing, warehousing: Prices, Taxation and crop insurance;

3.3 Terms of trade between agriculture and non agricultural Prices; Need for state intervention

3.4 Objectives of agricultural Price policy; instruments, Food security in India and public distribution system.

Module - IV Agricultural Growth in India

4.4 Cropping patterns, Crops shifting

4.2 Pricing of inputs and role of subsidies

4.3 Distribution of gains from technological change, Role of public investment and capital formation in Indian agriculture strategy of agricultural development and technological progress

4.4 Sustainable agriculture indigenous practices; Bio-technological practices and growth potential, Need of Second Green Revolution, Climate change and its impacts

Module -V Agriculture and External Sector

5.1 International Trade in agricultural commodities

5.2 Commodity agreements - Role of World Trade Organization

5.3 International Trade in agriculture, Role of MNCs.

5.4 Globalization of Indian Economy and problems and prospects of Indian agriculture, Impact of World Trade Organization on Indian Agriculture

SEMESTER - IV
GROUP - B
ECN-E15
INDUSTRIAL & LABOUR ECONOMICS - III

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Framework and Problems of Industrial Economics

1.1 Concept and organization of a firm, Classification of firm on the basis of Ownership structure (Public, Private, Joint and Cooperative Sectors); Objectives of firm, behavioral model of firm

1.2 Location of Industries - Weber, Sargent Florence, Factors Influencing Location of Industries

1.3 Industrial Sickness - Symptoms, Causes and Remedial Measures.

Module-II State of labour

2.1 Static and social security of labour Concepts of Social Security, Social assistance and social insurance; Policies with special respect to social security

2.2 labour welfare in India- Special Problems of labour, female labour, Child labour, need for safety nets.

2.3 Labour Reforms-Second National Commission on labour; labour market reforms; exit policy.

2.4 Labour Market Policies: Mobility of Labour

Module - III Industrial Relations

3.1 Theories of Labour movement growth; pattern and structure of labour unions in India.

3.2 Causes of industrial disputes and their settlement and prevention.

3.3 Current trends in collective bargaining.

3.4 Labour legislation in India.

Module - IV Industrial Productivity and Finance

4.1 Productivity - Measurement, Factors affecting Productivity, Importance of Productivity in the Competitive Environment

4.2 National Production Movement in India.

4.3 Industrial Finance- Owned, external and other components of funds, Major funding agencies IDBI, IFCI, SFCS, SIDBI and Commercial banks.

4.4 Role of FDIs in Industrial development.

Module - V Indian Industrial Growth and Pattern

5.1 Industrial Policy in India - Role of Public and Private Sector.

5.2 Problems of MSME in India, Role of MNC's in India.

5.3 Recent trends in Indian Industrial growth, Regional Industrial growth in India.

5.4 Industrial Development and Environmental Preservation-Pollution control policies of industries.

SEMESTER - IV
GROUP - 'C'
ECN-E13
POPULATION STUDIES -I

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module I : Population and Development

1.1 Meaning and scope of Demography

1.2 Components of Population growth and their interdependence

1.3 Measure of Population change; structure, distribution and sources of population data

1.4 Theories of Population - Malthus, Optimum Theory of Population Theory of demographic transition, view of Meadows, Enke and Simon

1.5 Population and development

Module II: Structure of Population

2.1 Population trends in the Twentieth Century; Population explosion- Threatened or real, distant or imminent.

2.2 International aspects of population growth and distribution, pattern of age and sex structure in more developed and less developed countries

2.3Determinants of age and sex structure, demographic effect of sex and age structure, economic and social implications of age structure, pyramids and projections.

2.4 Individual ageing and population ageing

Module III: Fertility, Nuptuality and Mortality

3.1 Importance of study of fertility - Total Fertility Rate, Gross Reproduction rate and Net Reproduction Rate, Levels and trends of fertility in more and less developed countries

3.2 Factor effecting fertility - Socio-economic factors, economic status, health, education, Nutrition, caste, religion, race, region, rural-urban status of husband and wife

3.3 Nuptiality concept and analysis of marital status, single mean age at marriage, synthetic cohort methods, trends in age at marriage.

3.4 Mortality-Death rate crude and age specific mortality at birth and infant mortality rate, Factors for decline in mortality in recent past.

Module IV: Migration and Urbanization

4.1 Concept and types- temporary, internal and international

4.2 International migration - its effect on population growth and pattern; factors affecting migration

4.3 Theories of migration related to internal migration

4.4 Urbanization - Growth and Distribution of rural- urban population in developing countries.

SEMESTER - IV
GROUP - 'C'
ECN-E14
POPULATION STUDIES-II

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module -I Demographic data Base in India

1.1 Study of census in India - Methodology and Characteristics of Census

1.2 Nature of information collected in 1971, 1981, 1991, and 2011 census India

1.3 National Family Health Survey 1 and 2 and rapid household survey

1.4 Changing characteristics of population in India; Population growth rates, trends and regional variations in sex ratio; Age structure population, foetal, infant and child mortality rates; Life expectancy

1.5 Appraisal of Kerela Model

1.6 Pattern of Urbanization and Migration in India

Module - II Population and Development with Reference to India

2.1 Population, Economy and environment linkages- population, health, nutrition, productivity nexus, population and human development issues; Culture and Fertility, Education and Fertility; Demography and household economic behavior.

Module - III Population Policy

3.1 Population and strategies for human development of different social groups; Social impact of new productive techniques and their regulation

3.2 The New population policy

3.3 Tasks before the National Population Commission

Module -IV Population Policy in India

4.1 Evolution of Population policy in India - Shift in policy from population control to family welfare, to women empowerment

4.2 Family Planning strategies and their outcomes

4.3 Reproductive health, maternal nutrition and child health policies

SEMESTER - IV
GROUP - 'C'
ECN-E15
POPULATION STUDIES-III

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - 1

Demographic and Futurological issues, sex, ratio, age. Consumption regional difference, rural urban, tribal, women population structure with reference to women

Module - II

Population policy and status of women, health and education policy of women in India, Population. Structure of Tribal and Rural women in Chotanagpur, Comparison with other parts of the country, Problems and Remedy

Module - III

Demographic structure in developed and developing countries, Population Estimates and Projection Human Development: Measures and implications of population growth on Human Development

Module - IV

Changing characteristics of population in India: Growth rates, trend and regional variations in sex ratio; age structure of population, Factors responsible for high fertility rate in India, Population Policy since independence

SEMESTER - IV
GROUP - 'D'
ECN-E13
WOMEN STUDIES -I
(Gender & Development)

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-1

Demography of female population: Age structure, mortality rates, and sex ratio-Causes of declining sex ratios and fertility rates in LDCs and particularly India; Women and their access to nutrition, health, education.

Module - II

Economic status of women and its effect on work-participation, income level, health, and education in

India. Impact of technological development on women's work participation in agriculture and nonagriculture rural activities, small and cottage industries.

Module - III

Fertility: Meaning, Concepts - CBR, ASBR, GFR, GRR and Factors affecting fertility. Nuptality: Meaning. Concepts - CMR, SMR, GMR, Determinants of nuptality, Martial Dissolution

Module -IV

Social security of women: entitlements, ensuring economic independence,Self help groups in providing social security; Schemes for safety net for women; Democratic decentralization (panchayats) and women's empowerment in India.

SEMESTER - IV
GROUP - 'D'
ECN-E14
WOMEN STUDIES - II
(Gender & Development)

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module-l

Economic growth and gender equality. Globalisation of the world economy and gender status. Feminisation of poverty. Women's contribution to GDP Impact of economic growth on gender (inequality. Impact of gender equality on economic growth and socio-economic development. Concept of the "feminisation of poverty". Basic causes of the feminisation of poverty.

Module - II

Gender inequality in the labour market, Factors affecting female entry in labour market- particularly India; female work participation in agriculture, non-agricultural rural activities, cottage and small-scale industries, and services sector, Problems of female labour.

Module - III

Women in the labour force, labour market theories, segmented labour market, determinants of women's employment, occupational pattern of women in India, inter state comparisons of contribution of women to GNP in India, problems and working conditions of Indian women.

Module - IV

Economic of tribal and rural women in Chotanagpur, Comparison with other parts of the state and country, problems and remedy

SEMESTER - IV
GROUP - 'D'
ECN-E15
WOMEN STUDIES -III
(Gender & Development)

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module -I

Distribution of resources and decision-making mechanisms, Distribution of time: work in the labour market, work in the household, leisure time. Demographic changes and gender status. The gender factor in demographic development. The gender shift and demographic development

Module - II

Global demographic changes: impact on gender status. Gender interpretation of the causes of the demographic shift in birth rates: micro- and macro-level. The concept of the gender shift: substance, stages, indicators. Demographic interpretations in the concept of the gender shift.

Module -III

Gender budgets. Gender review Gender budgets and gender budgeting. Methodology of gender budget preparation. Approaches and principles of gender budgeting. Experiences of different countries in gender budgeting. The children's budget as a type of social budget: Russian experience. Main principles of gender review of socio-economic and demographic development of countries and regions.

Module -IV

Gender policy: national, regional and global level. Gender inequality indicators Objectives and methods of gender policy. Main gender issues in socio-economic development in developed countries, developing countries. Gender issues in the Millennium Development Goals. Indicators of gender differences in socio-economic development. Incorporation of the gender factor into the Human Development Index.

SEMESTER - IV
GROUP - E
ECN-E13
ENERGY, RESOURCE & ENVIRONMENTAL ECONOMICS - I

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Basic Issues of Environment Economy Trade Off

1.1 Laws of Thermodynamics

1.2 Environmental asset as public good - Concept of externality and market failure

1.3 Pareto optimality in the presence of external effects in production.

Module - II The Theory of Environmental Policy

2.1 Pollution as negative externality-optimal pollution; The concept of property right - Coase theorem; Potential for market bargain in externality-criticism of Coase theorem.

2.2 Taxation and optimal pollution - The optimal Pigovian tax-Pollution changes and property rightPollution changes and abatement cost.

2.3 Environmental standards - The inefficiency of standard setting - Taxes Vs Standards - Baumol and Oates least cost theorem.

2.4 Tradable pollution permits - The basic theory of TPPs-Type of permits - advantage of TPPs.

Module - III Common Pool Resources

3.1 Tragedy of the commons

3.2 Nature of dependence on common pool resources

3.3 Empirical studies on CPR in Indian context

Module - IV Environmental Accounting

4.1 Basic Theory of Environmental Accounting

4.2 A Dynamic Optimization Model on National Income - Hawtrick's rule and sustainable income

4.3 Environmentally adjusted national product and sustainable resource management - illustrations with various types of non-renewable and renewable resources

SEMESTER - IV
GROUP-E
ECN-E14
ENERGY, RESOURCE & ENVIRONMENTAL ECONOMICS - II

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Natural Resource Scarcity & Regulation

1.1 Malthusian and Ricardian scarcity, Physical measures and economic measures

1.2 Resource scarcity mitigation, recycling and substitution

1.3 Regulation under Imperfect Market and Transaction Cost: Issues of efficiency in water transfer

Module - II Economics of Non-Renewable Resource

2.1 Basic concepts - Hotelling rule-The concept of backstop - A simple model of optimal depletion

2.2 Perfect competition and monopoly in non-renewable resource market.

2.3 Optimum extraction of exhaustible resources - General model, imperfect competition

2.4 Exploration and externality, non convexity, efficiency and equilibrium in exhaustible resource depletion

Module - III Economics of Renewable Resource - I

3.1 Economic of fishery-Growth function - logistic model

3.2 The sustained yield function - Schaefer model - Underlying assumptions - Drawbacks of MSY

3.3 Static model of fishery - Profit maximization

3.4 Comparison of MSY and open access condition

Module - IV Economics of Renewable Resource - II

4.1 Economics of forestry - The volume function and the mean annual increment - optimal single rotation - The rotation

4.2 Timber supply in the short run and in long run- The comparative static effects

SEMESTER - IV
GROUP - E
ECN-E15
ENERGY, RESOURCE & ENVIRONMENTAL ECONOMICS - III

Full Marks - 70, Pass Marks 28       

Time - 3 Hrs.

Candidates will have to answer five questions out of total of nine questions. At least one question from each module will be set. Question no. 1 will be compulsory, which will contain 7 short answer questions carrying 2 marks each.

Module - I Environmental Valuation and Impact Assessment

1.1 Environmental Valuation and Cost-benefit Analysis;

1.2 Revealed preference Approach (Household Production Function, Travel cost, Hedonic Price, Statistical value of life);

1.3 Stated Preference Approach (Contingent Valuation Method);

1.4 Environmental Impact Assessment: Case Studies in Indian Context

Module - II Economics of Climate Change

2.1 Climate Change - Scientific Evidences, Likely Impact on Economy, Adaptation & Mitigation

2.2 Economics of Climate Change - Why policies differ, Cost & Burden Sharing

2.3 UNFCC and the Global Protocols

Module - III Energy Environment Linkage

3.1 Energy Use as the driver of Climate Change

3.2 Energy and Growth - Energy Intensity of GDP, Recent Changes in Energy Intensity,

3.3 Macroeconomic Impact of Energy Price Changes (theory), Forward & Backward Linkages between Energy & Economy

Module - IV Energy Demand Analysis

4.1 Network Model - Reference Energy Systems (RES)

4.2 Energy Accounting Framework - Energy Balance Table, Structure, Format and Conventions; Sankey Disgrams

4.3 Demand Forecasting - Baseline Analysis, Trend Analysis, Process Modelling Approach, Econometric Energy Demand Modelling

4.4 Area of Interventions for Energy Demand Management - Technology, Pricing, Regulations; Examples from Indian context

SEMESTER - IV
ECN-D16
RESEARCH & PROJECT

Part-1- Research Methodology

1.1 Major concepts of Research Methodology, Steps of scientific research, Formulation and execution of research project.

1.2 Features of good research design, framing of hypothesis/research questions, schedule/ questionnaire

1.3 Specification of data requirement, Sources of secondary data, Primary data collection methods

1.4 Data analysis, Writing the project report, Notes and Bibliography

1.5 A. Central tendency (Mean, Median, Mode), Dispersion, Correlation (Simple, Multiple) & Regression

1.6 B. Uses of statistics in research.

Part-2-Project / Dissertation

Students will have to do an individual project work as assigned by the Department under the supervision of the Department. The project work will be of 70 marks. At the end of the semester the candidate will have to present his dissertation.

Seminar and other activity in the department -30 Marks