1) Micro-economics : (a) Production : Agents of Production; Costs and Supply; Isoquants (b) Consumption and Demand; Elasticity concept (c) Market Structure and concepts of equilibrium; (d) Determination of prices; (e) Components and Theories of Distribution (f) Elementary concepts of Welfare economics : Pareto-optimality-Private and social products-consumers surplus.
2) Macro-economics : (a) National Income concepts; (b) Determinants of National Income Employment (c) Determinants of consumption, savings and Investment (d) Rate of Interest and its determination (e) Interest and profit.
3) Money, Banking and Public Finance : (a) Concepts of Money and measures of money supply; velocity of money (b) Banks and credit creation; Banks and portfolio management. (c) Central Bank and control over money supply (d) Determination of the price level. (e) Inflation, its causes and remedies. (f) Public, Finance-Budgets-Taxes and non-tax revenues-Types of Budget deficits.
4) International Economics :
IMF and the World Bank and their associates.
Floating rates-GATT and WTO
(5) Growth and Development : (a) Meaning and measurement of growth; Growth, distribution and Welfare; (b) Characteristics of underdevelopment; (c) Stages of Development; (d) Sources of growth-capital, Human capital, population, productivity, Trade and aid, non-economic factors; growth Strategies, (e) Planning in a mixed economy-Indicative planning-Planning and growth.
(6) Economic Statistics : Types of averages-measures of dispersion-correlation-Index numbers; types, uses and limitations.
1. Main features; Geographic size-Endowment of natural resources, Population; size, composition quality and growth trend-Occupational distribution-Effects of British Rule with reference to Drain theory and Laissez Faire policy.
2. Major problems, their dimensions, nature and broad causes; Mass poverty-Unemployment and its types-Economics effects of population pressure-Inequality and types thereof-Low productivity and low per capita income, Rural-urban disparities-Foreign Trade and payments imbalances. Balance of Payments and External Debt- Inflation, and parallel economy and its effects-Fiscal deficit.
3. Growth in income and employment since Independence-Rate, Pattern, Sectoral trends-Distributional Changes-Regional disparities.
4. Economic Planning in India : Major controversies on planning in India-Alternative strategies-goals and achievements, shortfalls of different plans-planning and the Market.
5. Broad Fiscal, monetary, industrial trade and agricultural policies-objectives, rationale, constraints and effects.
1. Advanced Micro Economics:
2. Advanced Macro Economics:
Approaches to Employment Income and Interest Rate determination: Classical, Keynes (IS-LM) curve, Neo classical synthesis and New classical, Theories of Interest Rate determination and Interest Rate Structure.
3. Money – Banking and Finance:
4. International Economics:
5. Growth and Development:
(b) Process of Economic Development of Less developed countries: Myrdal and Kuzments on economic development and structural change: Role of Agriculture in Economic Development of less developed countries.
(c) Economic development and International Trade and Investment, Role of Multinationals.
(d) Planning and Economic Development: changing role of Markets and Planning, Private- Public Partnership
(e) Welfare indicators and measures of growth – Human Development Indices. The basic needs approach.
(f) Development and Environmental Sustainability – Renewable and Non Renewable Resources, Environmental Degradation, Intergenerational equity development.
1. Indian Economy in Pre-Independence Era:
Land System and its changes, Commercialization of agriculture, Drain theory, Laissez faire theory and critique. Manufacture and Transport: Jute, Cotton, Railways, Money and Credit.
2. Indian Economy after Independence:
A. The Pre Liberalization Era:
B. The Post Liberalization Era:
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