
Students, who have offered Demography P-I or Indian Economics
Policiea. P - I at M.A. P-I, to offer (D) : Financial Institutions and Market P
- II as an Optional Paper at M.A. P-II examination.
Preamble :
Role and function of the government in an economy have been changing with the
passage of time. The term 'Public Finance' has traditionally been applied to the
package of those policies and operations which involve the use of tax and
expenditure measures while budgetary policy is an important part of understand
the basic problems of use of resources, distribution of income etc. There are
vast array of fiscal institutions-tax systems, Expenditure programes, budgetary
procedures, stabilization instruments, debt issues, levels of government, etc.
which raises a spectrum of issues arising from the operation of these
institutions. Further, the existence of externalities, concern for adjustment in
the distribution of income and wealth, etc. require political processes for
their solution in a manner which combines individual freedom and justice. This
papers combines a through understanding of fiscal institutions with careful
analysis of the issues which underline budgetary policies in general and Indian
experience in particular.
Module 1 (Introduction) (Module - 1, 2 - 25 %)
Role of government in organized society
Private goods, public goods & merit goods
Market failure
Informational Assymetry - theory of second best
Private and public mechanism for allocating resources
Problems for allocating resources
Problems of preference revelation & aggregation of preferences
Voting systems - Arrow impossibility theorem
Module 2 (Retionale for Public policy)
Pronision of public goods
Voluntary exchange models
Impossibility of Decentralized provision of public goods (Contributions of Sanwelson & Musgrave)
Demand revealing schemes for public goods (Contributions of Clark, Groves & Leyard)
Keynesian case for stabilization policy
Module 3 (Public Expenditure & Taxation) (Module - 3, 4 - 25 %)
Wagner's law of increasing state activities
Wiseman - peacock hypothesis
Pure theory of public Expenditure
Structure & growth of Public Expenditone
Taxation - theory of incident - alternative concepts of incidents
Benefits & Ability to pay approaches
Theory of optimal taxation
Excess burden of taxation
Trade off between equity & efficiency
Module 4 (Public debt)
Classical view of public debt
Burden of public debt
Sources of public debt
Crowding out of private investments
Public borrowing
Principles of debt management & repayment
Module 5 (fiscal policy) (Module - 5, 6 - 25 %)
Objectives of fiscal policy
Interdependent of fiscal & monetary policies
Budgetary deficits & its implications
Fiscal policy for Stabilization
Alternative measures of resources mobilization & their impact on growth, distribution & prices
Balanced budget multiplier
Module 6 (fiscal Federalism)
Principles of multi-unit finance
Evolution of fiscal federalism in India
Assignment of function & sources of revenue
Constitutional provisions
Planning commission & Finance Commission
Centre-state financial relations in India
Problems of state resources & indebtedness
Module 7 (Indian Public Finance - I) (Module - 7, 8 - 25 %)
Structure of Indian tax system
Major taxes in India
Trends in public expenditure & public debt
Module 8 (Indian Public Finance II)
Analysis of central & state govt. budgets
Fiscal crisis & fiscal sector reforms in India
Reports of Finance commissions in India
Basic Reading List (Text Books & Reference Books)
1. Public Finance Theory & Practice
- R. A. Musgrave & P. B. Musgrave (McGraw Hill)
2. The Public Finance
- J. M. Buchahan
3.
Public Finance
- C. S. Shoup
4. Modern Public Economics
- R. Jha (Routledge)
5. Lectures on Public Economics
- A. B. Atkinson & J. E. Stiglitz
6.
The Theory of Public Economics
- R. A. Musgrave (McGraw Hill)
7. Public Finance (Theory & Practice)
- Mankar and Sarma (Himalaya Publishing House)
8. Fiscal Federalism in India
- D. K. Srivastava
9.
Principles of Public Finance
- Hugh Dalton
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Preamble :
The course provides a deep understanding about the board
principles and theories, which tend to govern the free flow of trade in goods,
services and capital both short term and long term, at the global level.
Besides, preparing the students about the relevance and limitations of these
principles, the contents of the paper, spread different modules, lay stress on
the theory and nature of the subject which in turn, will greatly help them to
examine the impact of the trade policies followed both at the national and
international levels as also their welfare implications at macro level and the
distribution of gains from trade to north and south with particular reference to
India. The study of the paper under the present era of globalization will train
the students about the likely consequences of income employment and social
standards and possible policy solutions as the world will more into the 21st
century.
Pure /
Traditional
Module 1 (Theories of International trade)
(Module - 1, 2 - 25 %)
Internal vs. International Trade
Adam Smith's absolute cost advantage theory
David Ricardo's comparative cost advantage theory
Haberler's opportunity cost theory
Module 2 (Advanced theories of International trade)
Hookscher - Ohlin theory of trade
Stopler - Samuelson & Rybczynski theories
The Kravis theory of availability
Linder's theory of volume of trade
Posner's imitation gap / technological gap theory
Vernon's Product Cycle Theory
Kenen's theory of Human Capital
Module 3 (Gains from trade & its Measurement) (Module - 3, 4 - 25 %)
Factors affecting gains from trade
Measurement of gains from trade & their distribution - concept of terms of trade (types, uses & limitations)
Hypothesis of secular deterioration of terms of trade
Module 4 (Theory of Interventions)
Case for and against free trade
Arguments for protection
Tariffs, Quotas & Non - tariff barriers
Economics effects of tariff & quotas on national income, output, employment, terms of trade & income distribution
Normal, effective & optimum rates of tariffs
Module 5 (Balance of Payments) (Module - 5, 6 - 25 %)
Meaning & Structure ; Equilibrium & Disequilibrium in BOP
Process of adjustment
- Exchange Depriciation
- Devaluation
- Direct controls
- Adjustment though capital movements
- Stimulation of exports
- Expenditure Switching & Reducing policies
- The Elasticity Approach
- Marshall - Learner Mechanism
- The Absorption Approach
- The Monetary Approach
Foreign trade multiplier
Module 6 (Foreign Exchange Rate)
Meaning & Equilibrium exchange rate
Theories of foreign exchange rate (mint parity theory, PPP theory & BOP theory)
Fixed Exchange Rates - meaning, merits & demerits
Flexible Exchange Rates - meaning, merits & demerits
Exchange rate regimes in Practice (managed float, dollarization, currency board, etc.).
Module 7 (The theory of regional blocks & some contemporary issues) (Module - 7, 8 - 25 %)
Forms of economic co-operation / integration
Static & Dynamic effects of a custom union & free trade areas
Emerging International Monetary system
Multilateralism & WTO
East Asian Crisis & lessons for developing countries
Module 8 (Trade Policies in India)
Trade problems and trade policies in India during the last five decades
Rationale and impact of trade reforms since 1991 on BOP, employment & growth
Instruments of exports promotion & recent EXIM policies & agenda for future
Basic Reading List (Text Books & Reference Books)
1. International Trade - Theory &
Policy - M. Chacholidas (McGraw Hill)
2. International Economics
- C. P. Kindleberge (R.D. Irwin)
3. International Economics
- Bo Soderston (McMillan)
4. International Economics
- D. Salvatore (Prentice Hall)
5. International Economics
- P. R. Krugman E. M. Obsffeld
6. International Trade - Selected Reading - J. Bhagwati (Cambridge Uni. Press)
7. International Economics
- R. J. Carbough (McGraw Hill)
Additional Reading List :
1. The Asian Financial Crisis
- M. Goldstein (Washigton)
2. A History of Financial Crisis
- C. P. Kindleberger (John Wiley)
3. Indian Economy Towards the 21st century- S. J. Patel (Uni. Press)
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Preamble :-
The study of economics development has gained importance because of sustained interest of the developing countries in uplifting their economic conditions by restructuring their economics to acquire greater cliversity, efficiency and equity in consonance with their priorities. While few success stories can be counted, many have grappleu with economic problem of narrow economic base, inefficiency and low standard of living. For this and other reasons, there have been many approaches to economic development. In recent times, besides hardcore economic prescriptions to development, concern relegated to back ground like education, health, sanitation and infrastructural development, have found a place in explaining the preference Florence of various economics.
Module 1 [Introduction] (Module - 1, 2, 3, 4 - 25 %)
Economic growth and Economic Development
Indicators of Economic growth
[1] National Income Index [2] Per Capital Income Index
Human Development
Indices
[1] Physical Quality of Life Index [PQLI]
[2] Basic Need Approach
[3] Human Development Index [HDI]
Factors affecting economic growth - capital, labour & technology.
Module 2 [Theories of Economic Development]
Adam Smith's theory
The Ricardian theory
The Malthusian theory
Mill's theory
The Classical theory
The Marxian theory
The Schunpeterain theory
Module 3 [Some Growth Models]
The Harrod - Domar Models
Mead's Neo - classical model of Economic Growth
The Solow Model of Long-Run Growth
Cambridge Criticism of Neo-classical analysis of Growth
Module 4 [Some Growth Models]
Models of technical change [neutral & non-neutral technical change embodies and disembodied technical change]
Kaldor's Model of Growth
The Pasinetti Model of Profit & Growth
Joan Robinson's model of Capital Accumulation
Total Factor Productivity & Growth accounting
Intellectual capital - learning by doing ; role of Learning, education & research
Enterpreneurship in Economic Development
Module 5 [Approaches to Development] (Module - 5, 6, 7, 8 - 25 %)
Nurkse's Theory of Disguised Unemployment as a saving potential
Lewis' Theory of Unlimited Supplies of labour
Fei - Renis Theory
Jorgenson's Neo-classical Model of a Dual Economy
Module 6 [Some Other Approaches to Development]
Leibenstein's critical minimum effort Thesis
Nelson's Low - level equilibrium Trap
The Big push Theory
The Doctrine of Balanced Growth
The Concept of Unbalanced Growth
Dualistic Theories
Dependence theory of Development
Module 7 [Social & Institutional aspect of Development]
Meaning of Underdevelopment
Poverty [absolute, relative, measurement & causes of poverty]
Inequalities of income [measurement & causes]
Population problem & growth pattern of population
Module 8 [State vs. Market]
Market & market failure [reasons for market failure]
State & State failure [reasons for State failure]
Role of the State in economic development
Issues of goods governance [Idea of effective government]
Module 9 [Role of Agriculture & Industry in Economic Development - I] (Module - 9, 10, 11, 12 - 25 %)
Role of agriculture in economic development
Role of industry in economic development
Inter - relationship between agriculture & industrial development
Terms of trade between agriculture & industry
Module 10 [Role of Agriculture & Industry in Economic Development - II]
New technology & sustainable agriculture
Globalization & agriculture growth
Pattern of industrialization in developing countries
Choice of techniques
Module 11 [Trade & Economic Development - I]
International Trade as an engine of growth
Static and dynamic gains from trade
Prebisch, Singer & Myrdal Thesis
Module 12 [Trade & Economic Development - II]
Import - substitution vs. export-led growth (export promotion)
Tariffs and effective protection
Module 13 [International Economic Order]
Pre-GATT international economic order
International economic order under the GATT system
Evolution of WTO from GATT
Important WTO agreement & their impact on developing economies
IMF & world Bank - role in development of LDCs
Module 14 [Private foreign investment & MNcs]
Meaning & nature of private foreign investment in developing countries
Merits & Demerits of private foreign investment
MNCs and developint countries
Module 15 [Allocation of resources]
Economic planning (meaning, rationable & types)
Shadow Prices
Project Evaluation and Cost-benefit Analysis
Controls under planning
Module 16 [Planning in India]
Objectives and Stategy of Indian Plans
Resource Mobilisation & Pattern of investment in Indian Plans
Review of Indian Plan Models
Achievements, failures & Lessons of Planning in India.
Economics of Growth & Development
Basic Reading List
1. Theories of Economics of Growth & Development - Adelman (Starford Uni. Press)
2. An Introduction Development Economics - S. Ghatak (Allen & Ulwin)
3. Economic Development - J. Hogendorn ( Addison Wesley)
4. Economic Development - C. P. Kindleberger (McGraw Hill)
5. The Economic of Underdeveloped Countried - H. Myint (OUP)
6. Economic Development - M. P. Todaro
7. Leading Issues in Economic Development - G. M. Meier (OUP)
8. Growth & Development - A. P. Thirwal (McMillan)
Additional Reading List :
1. Human Development Repost, 2004 (UN)
2. World Development Report From 1990 to 2003 (World Bank
3. Cost Benefit Analysis - J. E. Mishan (Unido)
Preamble :
The objective of this course is to provide a detailed treatment of issues in agricultural economics to those intending to specialize in this area. Its objective is to familiarize students with policy issues that are relevant to Indian agricultural economics and enable them to analyze the issues, using basic micro-economic concepts.
Module - 1 : Diversification of Rural Economic Activities : Livestock Economics - livestock resources and their productivity problems of marketing; white revolution; Fishery and poultry development; Foresty horticulture and floriculture; Issues and problems in rural industrialization and development of agro based industries. (10 %)
Module - 2 : Economics of Rural Infrastructure : Use of land, water and energy; Rural transport, communication, banking, exetion services, role modes and problems of rural electrification. Rural social infrastructure - education and health and information dissemination. (10 %)
Module - 3 : Land Reforms and Land Policy : Principles of land utilization; Land distribution structure and trends; land value and rent; land tanures and farming systems - peasant, capitalist. Collective and state farmings; tenancy and crop sharing - forms, incidence, and effects; land reform measures and performance; women and land reforms, problems of marginal and small farmers. (10 %)
Module
- 4 : Irrigation : Irrigation - Methods - Sources -
Criteria for selection of irrigation projects.
Module - 5 : Market Organization & Co-operation in
Indian Agricultural : Market organization village, wholesole and Terminal Market
- Co-operative Marketing - storage and processing - Forward Markets - Marketable
surplus - State Trading.
(10 %)
Agricultural co-operation in India, problems ans prospects of co-operative institutions.
Module - 6 : Agricultural Prices : Marketing and state policy ; Agricultural markets and marketing efficiency - Marketing functions and costs; market structure and imperfections; Regulated markets; marketed and marketable surplus - Behaviour of agricultural prices; price and income stability; state policy with respect of agricultural marketing, warehousing prices. Objectives of agricultural price policy; Instrument & evalution; Food security in India & Public distribution systems. (15 %)
Module - 7 : Agricultural Growth & Agricultural Policy : Recent trends agricultural growth in India; price & production controls; Behaviour of Agricultural price - sectoral terms of trade between industry and agricultural- Its role in mobilization of marketable surplus - Economic of price support. Sustainable agricultural indigenous practices; Bio-technology practices and growth potential. (15 %)
International trade in agricultural commodities; commodity agreements - role of World Trade Organization; Issues in liberalization of domestic and international trade in agricultural.
Module - 8 : Agricultural Taxation in India : Land Taxation - Land Revenue - Farm income Taxation - Land Revenue - Farm Income Taxation - Agriculutral holding Tax - Betterment leavy - Irrigation charges. (10 %)
Module - 9 : Risk and Uncertainly in Agriculture : Risk and uncertainly in agriculture; Difference between risk, subjective risk and pure uncertainly - Types of uncertainly - Degree of uncertainly - adjustment at production and resousce use to uncertainty - problems and feasibility of crop diversification and crop insurance. (10 %)
Basic Reading List :
Bhaduri. A. (1987) ; The Economic Structure of Backward Agriculture, Macmillan, Delhi.
Bilgrami, S.A.R. (1996), Agricultural Economics, Himalaya Publishing House, Delhi.
Dantwala, M. L. et.al (1991), Indina Agricultural Development Since Independence, Oxford & IBH, New Delhi.
Government of India (1976), report of the National Commission on Agricultural, New Delhi.
Government of India, Economic Survey (Annual), New Delhi.
Gulti, A.T.Kelly (1999) : Trade Liberalisation and Indian Agriculture, Oxford University Press, New Delhi.
Joshi, P.C. (1975) : land Reforms in India : Trends and Prospects, Allied Publishers, Bombay.
Kahlon, A.S. and Tyagi D. S. (1983) : Agriculture Price Policy in India, Allied Publishers, New Delhi.
Rao, C.H. Hanumantha (1975) : Agricultural Growth, Rural poverty and Environment Degradation in India, Oxford University Press, New Delhi.
Reserve Bank of India, report on Currency and Finance (Annual), Mumbai.
Rudra, A. (1982) : Indian Agricultural Economics : Myths and Reality, Allied Publishers. New Delhi.
Saini, G. R. (1979) : Farm size, Resource Use Efficiency and Income Distribution, Allied Publishers, New Delhi.
Thamarajakshi, R. (1994) : Intersectoral Relationship in a Developing Economy, Academic Foundation, Delhi.
Papola, T.S. (1982) : Rural Industrialization in India, Himalaya Publishing House, Bombay.
Soni, R.N. (1995) : Leading Issues in Agricultural Economics, Arihant Press, Jalandhar.
Wanmali, S. and C. Ramaswamy (Eds) (1995) : Developing Rural Infrastructure, Macmillan ,New Delhi.
Appu, A. S. (1996) : Land Reforms in India, Vikas, New Delhi.
Bardhan,
P. (1984) : Land Labour and Rural Poverty, Oxford University press, New Delhi.
Brahmananda, P. R., B. K. Narayan and A. Kalappa (Ed.) (1987) : Dimensions of
Rural Development in India, Himalaya Publishing House, New Delhi.
Chadha, G. K. and A. N. Sharma (1997) : Growth Employment and Poverty : Change and Continuty in RUral India, Vikas Publishing House, New Delhi.
Chakravarty, S. (1987) : Development Planning : The Indian Experience, Oxford University Press, New Delhi.
Chaudhary, P. (1972), Readings in Indian Agricultural Development, George Allen & Unwin, London.
Dantwala, M.L. (1996) : Delemmas of Growth : The Indian Experience, Sage Publications, New Delhi.
Ghatak, S. and K. Ingerscent (1984) : Agriculture and Economic Development, select books, New Delhi.
Haque, T. and A. S. Sirohi (1986) : Agrarian Reforms and Institutional Changes in India, Concept Publishing Co. Delhi.
Khusro,
A. M. (1973) : The Economic of Land Reforms and farm size in India, Macmillan,
New Delhi.
Reserve Bank of India (1989) : Report of the Agricultural Credit Review
Committee, Reserve Bank of India, Bombay.
Brahmananda, P. R. and V. R. Panchmukhi (Eds.) (1987) : The Development Process of the Indian Economy, Himalaya Publishing House, Bombay.
Desai, G. and A. Vaidyanathan (Eds) (1995) : Strategic Issues in Future Growth of Fertiliser Use in India, MacMillan, New Delhi.
Kaur, R. (1975) : Agricultural Price Policy in Economic Development, Kalyani Publishers, Delhi.
Mitra, A. (1977) : Terms of Trade and class Relations, Frank Cass Co. Ltd, London.
Raj. K. N. et. al. (1988) : Essays in the Commercialisation of Indian Agriculture, Oxford University Press, New Delhi.
Vaidyanathan, A. (1995) : The Indian Economy : Crisis Response and Prospects, Orient Longmans, New Delhi.
Bhalla G. S. (1994) : Economic Liberalisation and Indian Agriculture, Institute for Studies in Industrial Development, New Delhi.
Chelliah. Raja J. and R. Sudarshan (1999) : Income, Poverty and Beyond : human Development in India, social science Press, New Delhi.
Dhawan, B. D. (1988) : Irrigation in India's Agricultural Development, Sage Publications, New Delhi.
Uppal, J. S. (Ed), (1987) : India's Economic Problems - An Analytical Approach, Tata Mcgraw Hill, New Delhi.
(Labour Economics)
Module
- 1 Labour
Markets
(15 %)
Nature and characteristics of labour market in developing countries like
India. Demand for labour to size and pattern of investment. Supply of labour in
relation to growth of labour force. Labour market policies; Mobility and
productivity of labour; Absenteesim migration.
Module
- 2 :
Employment
(15 %)
Employment and Unemployment - types of unemployment - sources unemployment
data in India - Methods of measure unemployment - causes and remedies of
unemployment.
Employment policy in Five years plans and its evalution. Technological changes and modernization in organized private industry. Analysis of Educated Unemployment.
Module - 3 : Wage Determination (20 %)
Theories of Wage determination of Ricardo Marx, Wage fund theory and marginal productivity theory - Bargaining theory of Wages - Socio political forces influencing wage determination. Determination in various sectors-rural, urban, organized and in informal sectors.
Wage polices under the five years plans-minimum, Fair and living wage-Dearness Allowance Fringe benefits - profits sharing and production bonus - importance of wage - income policy in a India, National wage policy, wage boards in India.
Module - 4 : Industrial Relation (20 %)
Trade Unionism-organization and structure of trade unions of India-Weakness of trade unions and their remedies-international comparison of labour movement trade union legislation in India, second National Commission on labour.
Industrial Relation 0 unions and management attitudes industrial disputes forms and causes Methodes of satelment of Industrial Disputes - Collective bargaining mediation - Arbitration. ILO and International labour standard.
Module - 5 : State and Labour (15 %)
State and Social security of labour-concepts of social security and its evaluation; Social assistance and Social insurance; review and appraisal of state policies with respect to social security and labour welfare in India; Special problems of labour; Child labour, Female labour, Disenmination and gender in treatment of labour. Exit policy, need for safety nets, measures imparting flexibility in labour market, Globalization and labour market.
Module - 6 : Share of Wages in National Income (15 %)
Factors affecting share of wages in national income - development and share of wages wage structure share of wages in national income in India.
Basic Reading List :
Datt, G. (1996) : Bargaining Power, Wages and Employment : An Analysis of Agricultural Labour Markets in India, Sage Publications, New Delhi.
Hajela, P.D. (1998) : Labour Restructuring in India : A Critique of the New Economic Policies, Commonwealth
Publishers, New Delhi.
Jhabvala,
R. and R. K. Subrahmanya (Eds) (2000) : The Unorganised Sector : Work
Security and Social
Protection, Sage Publications, New Delhi.
Lester, R. A. (1964) : Economics of Labour (2nd Edition) Macmillan, New York.
MacConnell, C.R. and S.L.Brue (1986) : Contemporary Labour Economics, MacGraw Hill, New York.
Papola, T.S.P.P. Ghosh and A. N. Sharma (Eds) (1993) : Labour, Employment and Industrial Relations in India,
B. R. Publishing Corporation, New Delhi.
Rosenberg, M. R. (1988), Labour Markets in Low Income Countries in Chenery, H. B. and T. N. Srinivasan (Eds) : The Handbook of Development Economics, North-holland, New York.
Venkata Ratnam, C. S. (2001) : Globalization and Labour-management Relations : Dynamics of Change, Sage Publications Books, New Delhi.
Additional
Reading List :
Module - 1 :
McCormick, B and Smith (Eds) (1968) : The Labour Market, Penguin, Harmondsworth.
Papola, T. S. and Redgers, G. (Eds) (1992) : Labour Institutions and Economic Development in India, International Institute for Labour Studies, Geneva.
Rees, A. (1973) : Economics of Work and Pay, Harper and Row, New York.
Sen. A. K. (1975) : Employment, Technology and Development, Oxford University Press, New Delhi.
Solow, R. M. (1990) : Labour Market as an Institution, Blackwell, London.
Module - 2 :
Das, N. (1960) : Unemployment, Full Employment and India, Asia Publishing House, Bombay.
Deshpande, L. K., P. R. Brahamananda, E. A. G. Robinsob, (Eds) (1983) : Employment Polocy in a Developing Economy, Vol. 1 & 2 Macmillan, London.
Kannapan, S. (1983) : Employment Problems and Urban Labour Markets in Developint Countries, University of Michigan, Ann Arbor.
Papola, T. S. and Sharma, A. N., (Eds) (1999) : Gender and Employment in India, Vikas Publishing House, New Delhi.
Sharma, A. N. and A. Kunds (ed), (2001) : Informal Sector in India : Emerging Perspectives, Institute for Human Development, New Delhi.
Module - 3 :
Binaswanger, H. P. and M. R. Rosenzweig (Eds), (1984) : Contractual Arrangements, Employment and Wages in Rural Labour Markets in Asia, Yale University Press, New Haven.
Deshpande, L. K. and J. C. Sandesara (Eds) (1970) : Wage Policy and Wages Determination in India, Bombay university Press, Bombay.
Foster, A. D. and M. R. Roseberg, (1993) : Information Flows and Discrimination in Labour Markets in Rural Areas in Developing Countries, Annual Conference on Development Economics. World Bank, Washington D.C.
Hicks J. R. (1932) : The Theory of Wages, Clarendon Press, Oxford.
Madan, B. K. (1977) : The Real Wages of Industrial Workers in India, Management Development Institute, New Delhi.
Mazmudar. D. (1989) : Micro-economic Issues of Labour Markets in Developing Countries, EDI Services Paper No. 40, World Bank, Washington D. C.
Module - 4 :
Breman, J. (1996) : Footloose Labour : Working in India's Informal Economy, Cambridge University Press, Cambridge.
Memoria, C. B. (1966) : Labour Problems and Social Welfare in India, Kitab Mahal, Allahabad.
Punckar, S. D. (1978) : Labour Welfare, Trade Unionism and Industrial Relations, Himalaya Publishing House, Bombay.
Sach. J. (1990) : Social and Populist Policies in Latin America. in R. Brunnetta and C. D.
Aring, (Eds) : Labour Relations and Economic Performance, Macmillan, Basing Stock.
Singh, V. B. (Ed.) (1970) : industrial Labour in India, Popular Prakashan, Bombay.
Module - 5 :
Deshpande, S. G. Standing and L. K. Deshpande (1998) : Labour Flexbility in a Third World Metropolis, Commonwealth Publishers, New Delhi.
Hauseman, S. (1991) : Industrial Restructuring with Job Security, Hardward University Press, Cambridge, Mass.
MHRD, GOI (1987) : Shram Shakti : Report of the National Commission on Self-employed women and Women Workers in the Informal Sector, Ministry of Human Resources Development, New Delhi.
Misra, L. (2000) : Child Labour in India, Oxford University Press, New Delhi.
Riveros, L. (1990) : Labour Market Policies and Labour Market Reforms in Socialist Economics, World Bank, Washington D. C.
Standing G. and V. Tokman, (Eds) (1991) : Towards Social Adjustment, ILO, Geneva.
Preamble :
Applications of economic theory need a reasonable understanding of economics relationships and relevant statistical methods. The econometrix theory thus becomes a very powerful tool for understanding of applied economic relationship and for meaningful research in economics. This paper accordingly is devoted to quip the students with basic theory of econometrics and relevant applications of the methods. The topics covered in the course include various problems faced in estimation of both single equations and simultaneous equations models.
The course also covers various econometric methods applicable to different topics in economics and those needed for applied economic research. An introductory module on multivariate methods has also been include in the course which constitutes an important tool for analysis in multivariable data in development related studies.
(Module - 1, 2 - 25 %)
Module - 1 : Basic Econometrics : nature, Meaning and scope of econometrics; Simple and general linear regression model - Assumptions, Estimation (thought OLS approach) and properties of estimators; Gauss Markov theorem Concepts and derivation of R2 and adjusted R2 Concept and analysis of variance approach and its application in regression analysis; Estimation of non linear equations parabolic, exponential, geometric, hyperbolic, modifies exponential; Gompertz and logistic functions.
Module - 2 : Problems in Regression Analysis : Nature, test consequences and remedial steps or problems or heteroscodasticity; multicomnearity and auto correlation; problems of specification error of measurement.
(Module : 3, 4 - 25 %)
Module - 3 : Regressions with Qualitative Independent Variables : Dummy variable technique testing structural stability of regression models comparing to regressions, interaction effects, seasonal analysis, piecewise linear regression, use of dummy variables in regression with dummy dependent variables; The LPM Logit. Probit and Tobit models Applications.
Module - 4 : Dynamic Econometric Model : Autoregressive and distributed lag models Koyek model. Partial adjustment model, adaptive expectations; Instrumental variable; Problem of autocorrelation. Application; Almon approach to distributed lag models; Error correlation mechanism Causality test. Granger test and Sim's test.
(Module : 5, 6 - 25 %)
Module - 5 : Simultaneous Equation Models : Introduction and examples : The simultaneous equation bias and inconsistency of OLS estimators; The identification problem Rules of identification - order and rank conditions; Methods of estimating simultaneous equation system Recursive methods and OLS; Indirect least squares (ILS); 2SLS, 3SLS and ML methods - Applications.
Module - 6 : Time Series Ananlysis : Stationary unit-roots co-integration-spurious regression Dickey-Fuller test, Engle-Granger test, Random walk model Forecasting with ARIMA modelling; Box-Jenkins methodology; Vector autoregression; problems with VAR modeling Applications; Time varying parameters and Kalman filter.
(Module - 7, 8 - 25 %)
Module - 7 : Panel Date Techniques : Panel Data techniques Random coefficients model; Fix effects model; Random effect model.
Module - 8 : Multivariate Analysis : Multivariate probability distribution, marginal and conditional probability distribution, multivariate normal distribution and its properties; Hotelling T-scale; Discriminant analysis.
Basic Reading List :
Amemiya, T. (1985) : advanced econometrics, Harvard University Press, Cambridge, Mass.
Baltagi, B. H. (1998) : econometrics, Springer, New York.
Dongherty, C. (1992) : Introduction to Econometrics, Oxford University Press, New York.
Goldberger, A. S. (1998) : Introductory Econometrics, Hardward University Press, Cambridge, Mass.
Gujarati, D. N. (1995) : Basic Econometrics (2nd Edition), Mcgraw Hill, New Delhi.
Hill R.C.E.G. William and G. G. Judge (1997) : Undergraduate Econometrics, Wiley, New York.
Kennedy, P. (1998) : A Guide to Econometrics, (4th Edition) MIT Press, New York.
Kmenta, J. (1997) : Elements of Econometrics (Reprint Edition) University of Michigan Press, New York.
Koutsoyiannis, A. (1997) : Theory of Econometrics (2nd Edition) The Macmillan Press Ltd. London.
Krishma, K. I. (Ed.) (1997) : Econometrics Applications in India, Oxford University Press, New Delhi.
Maddala, G. S. (Ed.) (1993) : Econometrics Methods and Application (2 Vols.) Aldershot U. K.
Theil, H. (1981) : Indtroduction to Econometrics, Prentice Hall of India, New Delhi.
Additional Reading List :
Module - 1 :
Croxton, F.E.D.J. Cowden and S. Kelin (1973) : Applied General Statistics, Prentice Hall, New Delhi.
Maddala, G. S. (1997) : Econometrics, McGraw Hill, New York.
Module - 2 :
Intrilligator, M. D. (1978) : Econometrics Methods, Techniques and Applications, Prentice Hall, Englewood Cliffs, New Jersey.
Johnston, J. (1991) : Econometrics Methods, McGraw hill Book Co. London.
Module - 3 :
Chow, G. C. (1983) : Econometrics, McGraw Hill, New York.
Pindyek, R. S. and D. L. Rubinfield (1976) : Econometrics Models and Economic Forecasts, McGraw Hill Kogakusha, Tokya.
Module - 4 :
Chow, G. C. (1983) : Econometrics, McGraw Hill, New York.
Franses, P. H. (1998) : Time Series Models for Business and Economic Forecasting, Cambridge University Press, New York.
Hamonda, O. F. and J. C. R. Roley (1997) : Time Series Model, Causality and Exogeneity, Cheltenham, U. K.
Hansen, P. R. and S. Johnson. (1998) : Workbook on Cointegration, Oxford University Press, New York.
Harvey, A. C. (1981) : Econometrics Analysis of Times Series, Philop Allen, London.
Johnston. J. (1991) : Econometrics Methods, McGraw Hill Book Co. London.
Maddala, G. S. (1997) : Econometrics, McGraw Hill, New York.
Module - 5 :
Chow, G. C. (1983) : Econometrics, McGraw Hill, New York.
Intriligator, M. D. (1978) : Econometrics Methods, Techniques and Applications, Prentice Hall, Englewood Cliffs, New Jersey.
Pindyek, R. S. and D. L. Rubinfield (1976) : Economic Models and Economic Forecasts, McGraw Hill, Kogakusha, Tokyo.
Module - 6 :
Dhrymes, P. J. (1970) : Econometrics - Statistical Foundations and Applications, Harper and Row Publishers, New York.
Franses, P. H. (1998) : Time Series Models for Business and Economic Forecasting, Cambridge University Press, Cambridge.
Hansen, P. R. and S. Johnson (1998) : Workbook on Cointegration, Oxford University Press, New York.
Intrilligator, M. D. (1978) : Econometrics Methods, Techniques and Applications, Prentice Hall, Englewood Cliffs, New Jersey.
Module - 7 :
Draper, N. R. and H. Smith (1996) : Applied Regression, John Wiley, New York.
Harvey, A. C. (1981) : Econometric Analysis of Times Series, Philip Allen, London.
Pindyek, R. S. and D. L. Rubinfield (1976) : Econometric Models and Economic Forecasts, McGraw Hill Kogakusha, Tokyo.
Module - 8 :
Anderson, T. W. (1958) : Introduction to multivariate Statistical Analysis, Chapman and Hall, London.
Chatfield, C. and A. J. Collins (1980) : Introduction to multivariate Analysis, Chapman and Hall, London.
1. International Finance : Meaning, Scope, Importance. (10 %)
2. International financial markets : Nature, Oranisaton and Participants, forgein and Euro components,
major centres - London, New York, Tokyo and Singapore. (10 %)
3. Balance of payments, International liquidity, International capital movements. (10 %)
4. International monetary systems IMF changes in world monetary system after 1972.
5. Analysis and measurement of risk in international financial transactions. (10 %)
6. International money market and forex market - instruments, players and regulations, working of world
Bank and its afiliates, ADB. (10 %)
7. International equity market - instruments, players and regulations. (10 %)
8. International bond market - instruments, players and regulations. (10 %)
9. International financial derivatives - forwards, future, options and swaps, Characteristics, trading
systems, pricing and trading strategies of these financial derivatives. (10 %)
10. Risk management in international financial transactions, heading strategies. (10 %)
Reference :
International Finance - M. Levi
International Finance - Arvind Jain
International Financial Management - P. G. Apte.
Handbook of International Finance - George & Giddy
International Money Market - Giddy
Money in International Exchange - Me Kinnon
Options, futures and other derivatives - Hull
Financial Derivatives - Red head
Brahmananda, P. R. (1982) IMF Loan and Indians Economics, Himalaya Publishing House, Bombay.
Chamberlain, G. (1981) Trading in Options, Woodhead-Faulker, Cambridge.
Crocker, A. (1982), International Money : Issues and Analysis, The English Language Book Society, Nelson, London.
Kindleberger, C. P. (1996) A History of Financial Crisis Manias, pances and Crashes, John Wiley & Sons., New York.
Mackinnon, R. J. (1979) Money in International Exchange, Oxford University Press, Oxford.
Niehans J. (1984), International Monetary Economics, John Hopkins University Press, New York.
R. B. I. (1995) report of the Working Group on Foreign Exchange Market in India. (sodhani group) Mumbai.
Notes :
Maximum intake : 30 students
Required hardware : 1 machine for each batch of 2 students with internet
Required software : windows 98 or onward, MS Office, SPSS
Who can teach : Teacher / programmer who is qualified for teaching at Undergraduate level and who have
10 years of teaching experience can teach this paper.
Fee : 300/- Rs. Per term
Work load : 3 lectures for theory and 3 lectures for practical (Per Week)
[A] Objectives : to familiarize students with the innovations in IT and how it can be use in research work of
social science.
[B] Course input :
(1) Unit 1 : Introduction to Access 2000
| Data base and database management system | Salient features of Access 2000 |
| Screen of Access 2000 | Understanding of following database objects |
| Tables, queries, forms and reports | Creating a table in design view |
| Creating a data entry form using form wizards | Queries using design view |
| Creating report using wizards |
(2) Unit 2 : Introduction to Excel 2000
| What is an electronic worksheet and its advantages | Starting excel and the excel screen |
| Entering value, text and formula | Advantages of using formula |
| Concepts of cell, range, worksheet and workbook | Saving, closing, opening a workbook |
| Creating a new worksheet | Moving and coping data |
| Doing and undoing actions | Inserting and deleting columns and rows |
| Formatting worksheet | Changing column width |
| Printing the worksheet | Setting up pages and margins and Defining header and footer |
(3) Unit 3 : Advanced features of excel 2000
Creating charts
Using date and time
Functions- Average, count, max, min, stdev, var, sum, abs, int, log, mod, round. sqrt. auto sum, fp and pv, IF
(4) Unit 4 : SPSS
Starting SPSS
Entering value in worksheet
Descriptive statistics
Frequency distributions
Table and cross tabulation
Mean, median mode, standard deviation
Correlation and auto correlation
Regression and auto regression
Covariance and auto covariance
Factor analysis
Hypothesis testing
Creating charts
(5) Unit 5 : MS Power Point 2000 :
What is power point Creating a presentation
Power point views and running a slide show, Printing a presentation
[C] Basic Textbooks :-
Personal computer, Windows 98 and Microsoft office 2000 Antani Hemang and Shah Keyur, TMH
PC software for Windows 98 mad simple, Taxali R. K., TMH
[D] Structure of question paper (theory) (50 marks Time : Three Hours)
| Question No. | Unit | Marks | Note |
| 1(a) | 5 | 10 | Two short notes out of three |
| 2(a) | 1 | 5 | Two short notes out of three |
| 2(b) | 1 | 5 | Two procedures notes out of three |
| 3(a) | 2 | 6 | Two short notes out of three |