Department of Economics

AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-I
ECB-151, Microeconomics –I Max. Marks : 100
(For Both Main & Subsidiary) Sessional : 30
Credits: 04 End-Sem. Exam. : 70
Compulsory
Objectives: This is the first part of the two part course, and is designed to expose students to the basic
principles of economics. This course has the objective of equipping the students in a rigorous and
comprehensive manner with the various aspects of demand analysis, consumer behaviour, production
theory, cost analysis and market structure.
Unit-I: Consumer theory
Nature and Scope of Economics, Methodology of Economics, Demand and supply function; Law of
demand, Elasticity of demand – price, income and cross elasticities, and their measurements; Elasticity
of supply; Price determination.
Theory of consumer behaviour: Cardinal and Ordinal Utility analysis and Consumer’s equilibrium.
Indifference curve and its properties, the consumer-– price consumption curve and income
consumption curve, - price effect, income effect and substitution effect (Hicks and Slutsky methods),
inferior goods and giffen goods, derivation of demand curve.
Unit-II: Production, Costs & Revenue
Production decisions; Production function; law of variable proportions; returns to scale; characteristics
of Isoquants, Factor substitution; Ridge lines; least cost combination of factors, Internal and external
economies and diseconomies.
Cost function: different concepts of costs, short run cost analysis and long run cost Analysis- relation
between the expansion path and cost function.
Concepts of revenue: total, average and marginal revenue and their relationships, Break-even-analysis
& its uses.
Unit-III: Market Structure
Perfect and imperfect markets, Pure competition, Equilibrium of the firm and industry under perfect
competition, Role of time element in the determination of value, supply curve under perfect
competition, Equilibrium of the firm under monopoly, Discriminating monopoly, Conditions of
equilibrium under price discrimination, Degree of monopoly power.
Readings:
1. Gauld, J.P. and Edward P. L. (1996), : Microeconomic Theory, Richard. Irwin, Homewood.
2. Gravelle and Rees- :
Microeconomics; Pearson Education, 2nd Edition
3. G.S. Maddala and E. Miller. 1989. :
Microeconomics. McGraw-Hill International Editions.
4. Henderson J. and R.E. Quandt (1980), :
Microeconomic Theory:A Mathematical
Approach, McGraw Hill, New Delhi.
5. Heathfield and Wibe (1987), : An Introduction to Cost and Production Functions,
Macmillan,London.
6. Koutsoyiannis, A. (1990), : Modern Microeconomics, Macmillan.
7. Lipsey, R.G. and K.A. Chrystal (1999), : Principles of Economics, Oxford University Press, Oxford.
8. Mansfield, E. (1997), : Microeconomics (9th Edition), W.W. Norton and Company,
New York.
9. Ray, N.C. (1975), : An Introduction to Microeconomics, Macmillan
Company of India Ltd.,Delhi.
10. R S. Pindyck and D.L. Rubinfeld, (2000),: Microeconomics, 3rd edition, Prentice Hall, India.
11. R S. Pindyck, D.L. Rubinfeld and : Microeconomics, 7Th edition, Prentice Hall, India. Mehta (2007)
12. Samuelson, P.A. and W.D. Nordhaus (1998),: Economics, Tata McGraw Hill, New Delhi.
13. Stonier, A.W. and D.C. Hague (1972), : A Textbook of Economic Theory, ELBS & Longman Group,
London.
14. Varian, H.R. (2000), : Intermediate Microeconomics : A Modern Approach,
East-West Press, New Delhi.
Websites for reference
http://www.yahoo.com/social_science/economics/infoseek-economics www.sciencedirect.com
;http://Levine.ssnet.ucla.edu

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-I
ECB-152, Money and Prices
(For Both Main & Subsidiary)
Max. Marks : 100
Sessional : 30
Credits: 02
End-Sem. Exam. : 70
(Compulsory)
Objectives: This course exposes students to the theory and functioning of the monetary sector of the
economy. It focuses on the nature, role, significance, demand and supply of money in a modern economy.
In addition to that the course also covers the relationship between money and prices. After completing this
course students would have sufficient knowledge about the behavior of money and its inter-relations with
the functioning of the economy.

Unit-I
Money: definition-theoretical and empirical, classification and functions; Money and near monies;
Gresham’s law; System of note issue; Brief history of Money; Value of money: concept and measurement;
Quantity theory of money-cash transaction and cash balance approaches, Wicksell’s contribution; Virtual
Money

Unit-II
Demand for money: Classical, Keynes and Friedman’s approaches; Supply of money: components and
determinants; H-theory of money supply; Money multiplier-concept and determinants; Measures of money
supply; Reserve bank’s analysis of money supply.

Readings:

1. Geoffrey Crowther : An Outline of Money, Read Book Publisher

2. Luckett, D.G., : Money and Banking, McGraw-Hill Kogakusha, Ltd.,
3. L.V. Chandler : An Introduction to Monetary Economics, Manchester
University Press.
4. L.V. Chandler, and S.M. Goldfield : The Economics of Money and Banking, Harper and
Row, New York
5. McCallum, B.T., : Monetary Economics: Theory and Policy, New York:
Macmillan Publishing Company
6. Misra&Puri : Indian Economy (Chapters on Banking and Currency System),
Himalaya Publishing House, New Delhi.
7. Mihir Rakhshit. : Money and Finance in the India, Oxford University Press, India
8. Sethi, T.T. : Monetary Economics,: S. Chand and Co., New Delhi
9. Suraj B. Gupta : Monetary Economics– Institutions, Theory and Policy,
S. Chand & Company Ltd, New Delhi.
10. Suraj B. Gupta : Monetary Planning, Oxford University Press, India
11. Lewis MK and Mizen PD : Monetary Economics, Oxford University Press, London

Websites for reference

www.rbi.org.in www.cpolicy.rbi.org.in www.bulletin.rbi.org.in. www.bankreport.rbi.org.in http://mospi.nic.in
http://www.indiastat.com.

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics Max. Marks : 100
SEMESTER-II Sessional : 30
ECB-251, Macroeconomics– I End-Sem. Exam. : 70
(For Both Main & Subsidiary)
Credits: 04
Compulsory
Objectives:This is the first part in the two part course, and is designed to provide a sound knowledge
inmacroeconomic theory. The goal of this course is to provide students with a thorough understanding
of the fundamental principles of macroeconomics that establishes the functional relationship between
large aggregates. This course looks at the determination of income and employment, consumption
function, theories of investment, multiplier and accelerator
Unit-I Introduction:
Nature and scope of Macro Economics, difference between Micro and Macro Economics and
importance of Macro Economics.
National Income: Concepts, measurement and limitations of National Income Statistics, Circular flow
ofincome in two, three and four sector economy. National Income and Welfare.
Determination of Income and Employment: Classical Theory of Employment, Say’s Law of Market
andits implications, Keynesian objections to Classical Theory, Keynes Theory of Employment.
Unit-II: Consumption:
Principle to effective demand; Consumption Function, Keynes Psychological Law of Consumption
and Its Implications, Consumption Function Puzzle: Kuznet’s Findind.
Income-Consumption Relationship: Absolute Income Hypothesis, Relative Income
Hypothesis,Permanent Income Hypothesis, Life Cycle Hypothesis.
Unit-III: Investment Function:
Types of Investment, Determination of Level of Investment. Classical, Keynesian and Jorgenson's
Neo-Classical Theory of Investment, Saving-Investment Equality.
Multiplier and Accelerator: Concept of Multiplier, Types of Multiplier, Investment
Multiplier,Government Expenditure Multiplier, Income determination involving government
expenditure and tax Multiplier, Leakages of Multiplier, Acceleration principle, Super Multiplier.
Readings:
1. Ackley, G (1978), :“Macroeconomics: Theory and Policy”, Macmillan, New York.
2. Andrew B. Abel and : “Macroeconomics”, Pearson Education, Inc.
Ben S. Bernanke (2011)
3. Besanke, D. A.: Microeconomics, John Willy & Sons, INC
4. Branson, W. A. (1989), :“Macroeconomic Theory and Policy”, 3rd Ed., Harper & Row, New York.
5. Chauhan, S.P.S. : Microeconomics: Advanced treatise, PHI
6. Doglas, B. B.: Microeconomics. Tata McGraw-Hill (India)
7. Errol D’Souza, 2009,: Macroeconomics, Pearson Education, New Delhi.
8. Gravel, H. : Microeconomics.3rd ed., Prentice Hall
9. Hanson, A.H. (1953), : A Guide to Keynes, McGraw Hill, New York.
10. Heijdra, B.J. and : Foundations of Modern Macroeconomics, Oxford University Press, Oxford.
F.V. Ploeg (2001)
11. Keynes, J.M. (1936), : The General Theory of Employment, Interest and Money,
Macmillan, London.
12. Lipsey R.G. and : “Principles of Economics”, 9th Ed., Oxford University Press.
K.A. Chrystal (1999)
13. SoumenSikdar(2014) : Principles of Macroeconomics. Oxford University Press.
14. Shapiro, E (1996), :“Macroeconomic Analysis” Galgotia Publication, New Delhi.
15. Stiglitz J. E. and Carl : Principles of Macroeconomics, W.W. Norton & Company, New York.
16. E. Walsh (2002)
17. Paul Samuelson and : “Economics” (18th Ed.) Tata Hill Publishing Company, New Delhi.
Nordhaus: (2005)
18. Pindyc, Robert, S : Microeconomics. Pearson Education, New Delhi.
19. Mankiw N. Gregory (2010) :“Macroeconomics”, Worth Publishers.
20. Lipsey R.G. and : “Economics”, Oxford University Press. Oxford.
K.A. Chrystal (2007)
Websites for Reference
http://en.wikipedia.org/wiki/Macroeconomics
http://www.oswego.edu/~economic/eco300.html
http://www.stanford.edu/~sargent/ljungqvist.html http://cepa.newschool.edu
Approved by BOS in its meeting held on 13.08.2018
 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER- II Max. Marks : 100
ECB-252, Banking Theory and Policy Sessional : 30
(For Both Main & Subsidiary) End-Sem. Exam. : 70

Credits: 02
(Compulsory)

Objectives:This course exposes students to the importance of financial intermediation in the economy.
Thestudents will be explained the nature, importance and functioning of commercial banks. After acquiring
necessary knowledge about commercial banks, they will be explained the structure and progress of banking
in India. They will also learn the role and functions of central bank. The structure and functioning of Indian
money market will also be explained to enable the students to understand the role and working of RBI.
Unit-I Commercial Banking
Meaning and functions of commercial banks; Balance sheet; Process of credit creation– purpose and
limitations, liabilities and assets of banks; NPAs of Indian Commercial Banks; Modernisation of Indian
Banking System; Commercial Banking in India: structure, nationalization and reforms, Jan Dhan yojana;
Cooperative banks: meaning, structure and Growth; Microfinance: Concept and progress in India.
Unit-II Central Banking
Meaning and functions of Central bank; Objectives and methods of credit control-quantitative and
qualitative methods; Role and functions of Reserve Bank of India; Monetary Policy: Objectives, Targets
and indicators, Monetary policy of RBI: An overview; Indian money market: components and limitations;
Non-Banking Financial Intermediaries: meaning and role in economic development.
Readings:

1. Luckett, D.G., : Money and Banking, McGraw-Hill Kogakusha, Ltd.,

2. L.V. Chandler : An Introduction to Monetary Economics, Manchester
University Press.
3. L.V. Chandler, and S.M. Goldfield : The Economics of Money and Banking, Harper and
Row, New York
4. McCallum, B.T., : Monetary Economics: Theory and Policy, New York:
Macmillan Publishing Company
5. M.H. De Kock : Central Banking, Staples Press
6. Misra&Puri : Indian Economy (Chapters on Banking and Currency System),
Himalaya Publishing House, New Delhi.
7. Mihir Rakhshit. : Money and Finance in the India, Oxford University Press, India
8. Nityanand, S. V. : Banking and financial system.
9. R.S. Sayers : Modern Banking, Clarendon Press
10. Sethi, T.T. : Monetary Economics,: S. Chand and Co., New Delhi
11. Suraj B. Gupta : Monetary Economics– Institutions, Theory and Policy,
S. Chand & Company Ltd, New Delhi.
12. Suraj B. Gupta : Monetary Planning, Oxford University Press, India
13. Mishkin, F. :Monetary Policy Strategy, Prentice Hall of India, New Delhi, 2007

Websites for reference

www.rbi.org.in www.cpolicy.rbi.org.in www.bulletin.rbi.org.in. www.bankreport.rbi.org.in http://mospi.nic.in
http://www.indiastat.com

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-III
ECB-351, Microeconomics– II Max. Marks : 100
(For Both Main & Subsidiary) Sessional : 30
Credits: 04 End-Sem. Exam. : 70
Compulsory
Objectives: This course is a sequel to Microeconomics- I. The emphasis will be to provide students with
athorough understanding of the fundamental principles of monopolistic competition, oligopoly factor pricing
and welfare economics. The course will illustrate how microeconomic concepts can be applied to real-life
situations.

Unit-I: Market Structure-II

Monopolistic competition: Characteristics Short run and Long run Equilibrium of Firm, GroupEquilibrium,
Excess Capacity, Product differentiation and Selling Costs.
Oligopoly: Features and types of oligopoly, Cournot’s model, Kinked demand curve hypothesis, Cartels
andprice leadership.

Unit-II: Factor pricing

Marginal productivity theory of distribution, Ricardian & Modern Theories of rent, Quasi-rent, Wage
determination under perfect and imperfect competition, wages and collective bargaining, Theories of profit-
Dynamic theory, Risk and uncertainty theory and Schumpeterian theory of profit.

Unit-III: General Equilibrium and Welfare Economics

Edgeworth box analysis of an exchange economy, Problems of measuring welfare, Marshallian and Pigovian
approaches, Pareto’s welfare criteria, Concept of Social welfare function.

Readings:
1. Ahuja H.L. : Modern Micro Economics, S. Chand & Company Ltd New Delhi
2. G.Lipsey Richard : Micro Economics: An Introduction to Positive Economics
and Samuelson ,Paul A. Oxford University Press
3. Jain T.R. & Sandhu A.S. : Micro Economics, F K Publication.
4. Joshi,J.M. :Theory of Value, Distribution and Welfare Economics Vikash
Publishing House
5. Koutsoyiannis A. : Modern Micro Economics, Macmillan London
6. Ray N.C. : An Introduction to Micro Economics, Macmillan Company
7. Salvatore Dominick : Micro Economic Theory, Oxford University Press
8. Seth M.L. : Micro Economics, Lakshmi Narain Agrawal Publisher
19. Varian Hal R. : Micro Economic Analysis, W.W. Norton & Company
10. G.S. Maddala and
Ellen Miller (2004) : Micro Economic Theory and Applications, Tata McGraw Hill.
11. R S. Pindyck and
D.L. Rubinfeld, (2000) : Microeconomics, 3rd edition, Prentice Hall, India.

Websites for reference

http://www.yahoo.com/social_science/economics/infoseek-economics
www.sciencedirect.com ;http://Levine.ssnet.ucla.edu, www.yourarticlelibrary.com/.../monopolistic-competition/equilibrium.
www.jbdon.com/pricing-under-monopolistic-and-oligopolistic-competiti

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

Syllabus for B.A. (Hons.), Economics

SEMESTER-III
ECB-352, Indian Economic Development & Policy-I
(For Both Main & Subsidiary) Max. Marks : 100
Sessional : 30
Credits: 02
End-Sem. Exam. : 70
(Compulsory)
Objectives: Indian economy has already undergone many changes. This transformation is still taking placein
every sector of the economy. However, many of the basic problems of the economy still Existing .These
include poverty, inequality, unemployment, infrastructural bottlenecks, demographic issues, and so on. A
student of economics must have a clear understanding of the extent of success and failures of the economy.
This course aims at giving students a reasonable introduction to Indian economy. The course will concentrate
on both the achievements and the issues of the economy.
Unit-I: Structure of Indian Economy
Basic features of Indian economy; Broad demographic features of Indian population; Trend in National
Income and Per capita income; Sectoral composition of output and employment; NITI Aayog: Structure,
objectives and working.

Unit-II: Agriculture and Industry

Trends in agricultural production and productivity; Factors determining productivity; Institutional and
technological reforms; Capital formation; Agricultural price policy; Food security and Public Distribution
System; Rural credit and role of NABARD; Industrial growth during plans; Industrial policy of 1948, 1956
and 1991; Micro Small and Medium enterprises: problems and prospects.
Readings:

1. Agarwal A.N. : India Economy: WishwaPrakashan 37 edition

2. Bansil P.C. : Agricultural Problems of India, Vikas Publishing House Pvt. Ltd.
3. Bhalla, G.S. : Indian Agriculture since Independence ( 2008), NBT. New Delhi
th
4. Dutt and Mahajan : India Economy, S. Chand & Company Ltd., 68 Edition
5. Government of India : Economic Survey (latest)
6. Kapila U. : Indian Economy since Independence Academic foundation, New Delhi
th
7. Misra and Puri : Indian Economy, Himalaya Publishing House, 29 Edition.
8. Panagariya, A. : India: The Emerging Giant. USA: OUP
9. Rakshit, M. : A Macroeconomics of Post-Reforms India. New Delhi: OUP.

Websites for reference

http://dare.nic.in http://agricoop.nic.in
http://planningcommission.gov.inhttp://civilaviation.nic.in http://mohfw.nic.in
http://www.indianrailways.gov.in http://rural.nic.in http://morth.nic.in
http://shipping.gov.in http://ssi.gov.in http://ssi.gov.in http://commin.nic.in

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-IV
ECB-451, Macroeconomics-II Max. Marks : 100
(For Both Main & Subsidiary) Sessional : 30
Credits: 04 End-Sem. Exam. : 70
Compulsory
Objectives : This course is a sequel to Macroeconomics-I. The goal of this paper will be to expose
thestudents to the basic principles of macroeconomics. The emphasis will be on thinking like an
economist and course will illustrate how economic concepts can be applied to analyse real-life
situations. In this course, the students are introduced to money and interest, theories of inflation, rate of
interest, trade cycle and growth models.
Unit-I
Theories of Rate of Interest: Classical, Loanable and Liquidity Preference.
Equilibrium in the product and money markets: IS and LM functions, changes in IS and LM
functions,General equilibrium – changes in general equilibrium, Elasticity of LM Schedule and Shifts in
LM curve with changes in Money Supply and Money Demand, Interest Elasticity of IS schedule and
Equilibrium.
Macro Economic policies: Monetary and Fiscal Policies: Goals, Objectives, Instruments.
Unit-II: Inflation
Definition and measurement of inflation, Types of inflation, Impact of inflation, Theories of Inflation:
Quantity Theory approach to Inflation, Demand Pull Inflation and Inflationary Gap analysis; its
shortcomings. Concepts of Cost Push & structural inflation, The Philips Curve and the trade-off between
Inflation and Unemployment – short-run and long-run Philips Curve, Policy ineffectiveness debate.
Measures to control Inflation.
Unit-III
Trade cycles: Meaning, Types and Phases, Theories of Trade Cycles: Kaldor, Samuelson and Hicks.
Economic Growth: Meaning and measurement, Growth Models: Harrod - Domar and Solow,
Economicgrowth and technical progress.
Readings:
1. Ackley, G (1978), : Macroeconomics: Theory and Policy, Macmillan, New York.
2.Andrew B. Abel and : Macroeconomics, Pearson Education, Inc.
Ben S. Bernanke (2011)
3.Branson, W. A. (1989), : Macroeconomic Theory and Policy, 3rd Ed., Harper & Row, New York.
4.Errol D’Souza, 2009, : Macroeconomics, Pearson Education, New Delhi.
5.Hanson, A.H. (1953), : A Guide to Keynes, McGraw Hill, New York.
6.Heijdra, B.J. and F.V. Ploeg (2001), : Foundations of Modern Macroeconomics, Oxford University Press, Oxford.
7.Jones C.I. (2002), : Introduction to Economic growth, W.W. Norton & Company.
8.Keynes, J.M. (1936), : The General Theory of Employment, Interest and Money, Macmillan, London.
9.Lipsey R.G. and, : Principles of Economics, 9th Ed., Oxford University Press.
K.A. Chrystal (1999)
10. Lipsey R.G. and : Economics, Oxford University Press. Oxford.
K.A. Chrystal (2007) ,
11. Mankiw N. Gregory: (2010) , : Macroeconomics, Worth Publishers.
12. Paul Samuelson and : Economics, (18th Ed.) Tata Hill Publishing Company, New Delhi
Nordhaus: (2005),
13. Shapiro, E (1996), : Macroeconomic Analysis, Galgotia Publication, New Delhi.
14. Soumen Sikdar(2014) : Principles of Macroeconomics. Oxford University Press.

15. Stiglitz J. E. and : Principles of Macroeconomics, W.W. Norton &

Carl E. Walsh (2002) Company, New York
Websites for Reference
http://en.wikipedia.org/wiki/Macroeconomicshttp://www.oswego.edu/~economic/eco300.html
http://www.stanford.edu/~sargent/ljungqvist.html http://cepa.newschool.edu
https://sites.google.com/site/.../trade-cyc..., www.policonomics.com/is-l

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-IV
ECB-452, Indian Economic Development & Policy-II Max. Marks : 100
(For Both Main & Subsidiary) Sessional : 30
Credits: 02 End-Sem. Exam. : 70
(Compulsory)

Objectives: Indian economy has already undergone many changes. This transformation is still taking
placein every sector of the economy. However, many of the basic problems of the economy still Existing
.These include poverty, inequality, unemployment, infrastructural bottlenecks, demographic issues, and
so on. A student of economics must have a clear understanding of the extent of success and failures of the
economy. This course aims at giving students a reasonable introduction to Indian economy. The course
will concentrate on both the achievements and the issues of the economy.

Unit-I: Foreign Trade

Foreign Trade: Trends, composition and direction; Causes and effects of persistent deficit in the balance
of payments; Measures adopted by the government to correct the deficit in Balance of Payments before
and after 1991, Convertibility of Rupee; Features of new trade policy, Trends of foreign exchange
reserves; FEMA; Capital flows: nature, extent and composition.

Unit-II: Public Finance

India’s tax system; Ratio of direct and indirect taxes; Tax reforms since 1991; Goods and Services Tax
(GST): features and progress; Public expenditure in India - trends; Public debt in India-trends and
th
management; Fiscal federalism in India: Issues and constitutional provision; Recommendation of the 14
Finance Commission; Global Financial Crisis 2007-2008 and Indian Economy, Black Economy.
Readings:

1. Agarwal A.N. : India Economy: Wishwa Prakashan 37 edition

2. Bansil P.C. : Agricultural Problems of India, Vikas Publishing House Pvt. Ltd.
3. Bhalla, G.S. : Indian Agriculture since Independence ( 2008), NBT. New Delhi
th
4. Dutt and Mahajan : India Economy, S. Chand & Company Ltd., 68 Edition
5. Government of India : Economic Survey (latest)
6. Kapila U. : Indian Economy since Independence Academic foundation, New Delhi
th
7. Misra and Puri : Indian Economy, Himalaya Publishing House, 29 Edition.
8. Panagariya, A. : India: The Emerging Giant. USA: OUP
9. Rakshit, M. : A Macroeconomics of Post-Reforms India. New Delhi: OUP.

Websites for reference

http://dare.nic.in http://agricoop.nic.in
http://planningcommission.gov.inhttp://civilaviation.nic.in http://mohfw.nic.in
http://www.indianrailways.gov.in http://rural.nic.in http://morth.nic.in
http://shipping.gov.in http://ssi.gov.in http://ssi.gov.in http://commin.nic.in

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Semester-V Max. Marks : 100
ECB-551, History of Economic Thought Sessional : 30
End-Sem. Exam. : 70
Credits: 04
(Compulsory)

Objectives: This course will introduce the students to economic thought by tracing its history. It
willintroduce them to the various concepts & theories of Ricardo & Malthus as well as with the
contribution of Marx. It will also introduce them to the essential features of marginalism, neo classical
economics, Keynsian economics and welfare economics. The course will enable the students to
understand the development of economics from the beginning of economic thinking.

Unit-I
Pre Classical Economic Thought: Mercantilism, Physiocracy; Classical Economics: Adam Smith-Theory
of Value of Capital Accumulation, Ricardo-Theory of Value and Theory of Distribution, Malthus -
Theory of Population, John Stuart Mill - Principles of Political Economy, Ricardo -Malthus Controversy
Over Gluts.

Unit-II
Karl Marx: Theory of Value, Theory of Capital Accumulation Organic Composition of Capital, Theory of
Crisis; Essential Features of Marginalism, Jevons theory of Value, Bohm, A. Marshall and his
contribution, Walras’ Theory of General Equilibrium.

Unit-III
Features of Neo Classical Economics, Economics of welfare: A.C. Pigou, V. Pareto; J. M. Keynes & his
policies; Indian Ancient Economic Thought Kautilya’sArthshastra, Economic Thought in modern India:
Naoriji, Mahatma Gandhi.

Readings:

1. Backhouse, A. : History of Modern Economic Analysis, Oxford University Press

2. Bhatia, H. L. : History of Economic thought., Vikas Publishing House Pvt. Ltd.
3. Eaton, John. : Political Economy, International Publisher
4. Eric Roll, : A History of Economic Thought, Faber& Faber Publisher
5. Ganguli, B.N. : Indian Economic Thought: A Nineteenth Century
: Perspective, Tata McGraw-Hill Publishing Co., New Delhi.
6. Gide, C. and G Rist. : A History of Economic Doctrines, Academic Foundation, New Delhi.
7. Gray, A. and Thompson A. : The Development of Economic Doctrines, Longman, London
8. Haney, L.H. : A History of Economic Thought, Macmillan.
9. Hunt, E.K. and : History of Economic Thought: A Critical Perspective, M.E. Sharpe
Lautzenheiser, M. (2011).
10. Medema, S.G. and : The History of Economic Thought: A Reader, Rout ledge.
Samuels, W.J. (2003).
11. Schumpeter, J. A. : A History of Economic Analysis. Oxford University Press
12. Steven, G. M. : History of Economic thought, Oxford University Press
13. Eaton, John. :

Websites for Reference

www.policonomics.com/lp-classical-economics-mercantilism
en.citizendium.org/wiki/History_of_pre-classical_economic_thought
https://www.marxists.org/archive/marx/works/.../theories...value
ublishing.cdlib.org/ucpressebooks/view?docId=ft367nb2h4
economics.illinoisstate.edu/ntskaggs/eco372/.../alfred_marshall.htm
www.academia.edu/3836527/Walrasian_General_Equilibrium_Theory

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-V Max. Marks : 100
ECB-552, Statistical Methods Sessional : 30
End-Sem. Exam. : 70

Credits: 04
Compulsory

Objectives:In Economics, the theories have been developed or confirmed on the basis of observed data. So,
a study with regard to the statistical tools becomes necessary for the students in order to have clarity in
Economics. This paper tries to impart knowledge to the students in the field of statistics. The paper is
anattempt to let the students know about various measures of central tendency & dispersion, techniques of
simple correlation and regression, theory of index numbers and time series.

Unit-I: Central Tendency, Dispersion, Skewness and Kurtosis

Measures of central tendency: Mean, Median, Mode, Geometric mean and Harmonic mean, Simple and
weighted averages, Group averages; Measures of dispersion; Range, Mean deviation, Standard deviation,
Coefficient of variation, Quartile deviation, Relation between various measures of dispersion, Skewness and
Kurtosis.

Unit-II: Correlation and Regression

Correlation; Simple, Coefficient of correlation — Karl Pearson and Rank Correlation, Partial and Multiple
correlation Analysis, interpretation of r, probable error and coefficient of determination; Regression analysis
— Estimation of regression line in a bivariate distribution— Least squares method, interpretation of
regression coefficients. Association of attributes.

Unit-III: Index Numbers

Index numbers: concept and uses, Different formulae for price and quantity index numbers, tests for index
numbers, chain index, and cost of living index, Problems in constructing index numbers, Splicing, Base
shifting, Use of index numbers for deflating other series.

Time Series
Nature and decomposition of time series – analysis of trend—polynomial trend – exponential trend – non-
linear growth curves – moving average method – seasonal component-(simple numerical exercise)

Readings:

1. Croxton, F.E., D.J. Cowden : Applied General Statistics, Prentice Hall, New York
and S. Klein
2. Goon, Gupta and Dasgupta – : Fundamental of Statistics, Vol. I &II , World Press
3. Goon, Gupta and Dasgupta : Basic Statistics, World Press
4. Gupta, S.C. and V.K. Kapoor : Fundamentals of Applied Statistics Sultan Chand & Sons
5. Jay L. Devore, : Probability and Statistics for Engineers, Cengage Learning
6. John E. Freund : Mathematical Statistics, Prentice Hall
7. Nagar and Das : Basic statistics. Oxford University Press
8. N. G. Das – : Statistical Method (Part I & II), McGraw Hill Companies
9. Richard J. Larsen :An Introduction to Mathematical Statistics and Applications,
and Morris L. Marx Prentice Hall
10. Spiegal, M.R : Theory and Problems of Statistics, Tata McGraw Hill
11. Thomas, R. L. : Using statistics and economics. McGraw Hill Companies
12. Yule and Kendall – : An Introduction to the Theory of Statistics, Nabu Press
Websites for reference
www.statsoft.com, www.statcounter.com, www.meandeviation.com
www.math.about.com, http://www.cne.gm

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-V
ECB-553, Mathematical Methods Max. Marks : 100
Sessional : 30
End-Sem. Exam. : 70

Credits: 04
Compulsory

Objectives: The knowledge of Mathematics is now days almost essential to understand the subject
matterof Economics. The students in this direction are expected to have an elementary knowledge of the
concept of functions, limits and continuity, differential and integral calculus, matrices & determinants.
This course has been designed keeping in mind the aforesaid need of the students. It emphasises on the
application of Mathematics in Economics.

Unit-I: Functions
Function; Types of Function: Linear, quadratic, power, exponential and inverse; Economic applications
of graphs and equations; Calculation of growth rates, present value and annuities; Progression: Arithmetic
and Geometric.
Limits and Continuity

Introduction; Limit Theorems; Examples on Limits; Continuity of Functions ;BasicProperties Concerning

Continuity.

Unit-II: Differential Calculus

Average rate of change; The Derivative as a rate of change; Rules for Simple, Partial and Total
differentiations; Higher-Order Derivatives; Concavity and Convexity: A Graphical Exposition; Problems
of maxima and minima in single and multivariable functions. Constrained optimization with Lagrange
multiplier.

Integral Calculus
Indefinite Integral; Basic Integration Formulas; Methods of Integration; Definite Integral; Properties of
Definite Integrals. Application of Integration in Economics: Finding out total functions (TR, TC,
Consumption Function, Saving function) when marginal functions are given – Consumer’s Surplus –
Producer’s surplus

Unit-III: Matrices and Determinants

The Concept of a Matrix; Types of Matrices; Operations on Matrices; Determinants: Characterization,
Properties and Applications; Rank of a Matrix; Matrix Inversion; Solution of Simultaneous equations:
Cramer’s rule and Matrix Inversion method.

Readings:

1. Allen, R.G.D. (1974),: Mathematical Analysis for

Economists,Macmillan Press and ELBS, London.
2. Bradley, T. : Essential mathematics for Economics and Business., John Wiley & Sons
3. Carl P. Simon : Mathematics for Economists, Viva Books Pvt. Ltd. New Delhi.
and Lawrence Blume (2007),
rd
4. Chiang, A.C. (1986), :Fundamental Methods of Mathematical Economics(3
5. Dowling, Edward T. (1992), :Schaum’s Outline of Theory and Problems of Introduction to
Mathematical Economics, 3rd Edition, McGraw Hill
6. Harrison, Micheal. : Mathematics for economics and finance. Routledge
 Department of Economics
AMU, Aligarh

8. Henderson, J. : Microeconomic Theory: A Mathematical Approach, McGraw Hill,

New Delhi and R.E. Quandt (1980),
9.Hoy,M., J. Livernois, : Mathematics for Economics, 2nd Edition
C. McKenna, R. Rees Prentice Hall, India and T. Stengos(2001),
10. James, Bergin : Mathematics for economists. Routledge
11. K. Sydsaeter : Mathematics for Economic Analysis, Pearson

12. Monga, G.S. (1972),: Mathematics and Statistics for Economists, Vikas
Publishing House, New Delhi.
13. Mukherji, B.: Mathematical Method of Economic Analysis, Allied
and V. Pandit (1982), Publishers, New Delhi.
14. Salam, Md. Abdus (2012), : An Introduction to Mathematical Economics,
LAP LAMBERT Academic Publishing GmbH & Co. KG, Germany.
15. Sydsaeter K Hammond, P Seierstad, A , and Strom A (2005) Further Mathematics for Economic Analysis,
London, Premtice Hall.
16. Sydsaeter K, Strom A, and Berck P (1999) Economists’ Mathematical Manual, New York, Springer-Verlag.

Website for Reference

http://www.math.tifr.res.in/maths/all-journals.html,
http://www.uccollege.edu.in http://www.indiastudycenter.com,
http://www.iisc.ernet.inhttps://uqu.edu.sa,www.sosmath.com/matrix/elemop
/elemop.htmlwww.cis.upenn.edu,math.feld.cvut.cz/mt/txtb/5/txe3ba5b.htm
www.intmath.com/differentiation/4-derivative-instantaneous-rate-change.

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Semester-V Max. Marks : 100
ECB-554, Industrial Economics Sessional : 30
End-Sem. Exam. : 70
Credits: 04
Optional

Objectives: This course is an introduction to current theory and empirical work in Industrial economics.
Itstarts by examining the internal structure of firms. It then moves on to the analysis of various aspects of
strategic interaction between firms and the determinants of industrial structure. Finally, it discusses the role
of policy in the context of competition and industrial policies and regulation. The emphasis will be
throughout on understanding how the theoretical tools can be used to analyse real issues. The theory will
be confronted against empirical evidence, and its implications for public policy and business strategy will
be discussed. .

Unit-I
Scope of Industrial economics; Concept, measurement and determinants of efficiency of firms,
Productivity Movements in India, National Productivity Council; Forms of organization of industrial firms;
Theory of optimum size of the firm, Factors influencing optimum size.

Unit-II
Market structure, Performance of the firms in different form of the market; Concentration: its meaning
and determinants, Measurement of market concentration: Herfindahl Index and Lerner Index; Industrial
Location: meaning and determinants, Theories of Industrial Location: Alfred Weber's Deductive Analysis
and Sargent Flourence's Inductive Analysis.

Unit-III
Industrial Finance: Concept, need and types, Internal and external sources of industrial finance; Industrial
growth in India during plans, Impact of economic reforms on India's industrial growth; India’s industrial
policy: 1956 & 1991; Role and performance of public sector enterprises, definition, role and performance
of MSMEs, Magnitude and causes of industrial disputes in India.
Readings:

1. A.M. Hansen : Public Enterprises and Economic Development,

Routledge and Kegan Poul
2. Baumol, William J., : Economic Theory and Operation Analysis, Prentice Hall of
India Pvt. Ltd., New Delhi.
3. Dean, Joel : Managerial Economics, Prentice Hall of Inc.,
4.Dominic Salvatore, : Managerial Economics, Mc.Graw Hill Inc, New York
5. Donald A Hay and : Industrial Economics: Theory and Evidence-, Oxford
D.J Morris University Press.
6. Francis Cherunilam : Industrial Economics: An Indian Perspective, Himalaya
Publishing House, New Delhi.
7. K.V. Sivaya and VBM Das : Indian Industrial Economy, S. Chand Company.
8. R.R. Barthwal : Industrial Economics: An Introductory Text Book, New
Age International
9. SSM Desai and : Industrial Economy of India, Himalaya Publishing House
NimalBhalerao,
10.Planning Commission : Final Report on Industrial Planning and Licensing
11. R.K. Haza : The Structure of the Corporate Sector in India, Asia
Publishing House
Websites for reference
http://economics.about.com/od/pricing www.studyfinance.com
http://www.economicswebinstitute.org/glossary/costs.htm www.netmba.com www.nationalanalysts.com

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Semester-V Max. Marks : 100
ECB-555, Financial Economics Sessional : 30
(Skill Enhancement) End-Sem. Exam. : 70

Credits: 04
(Compulsory)

Objectives: This course will give the students the theory of finance which provides the framework
forinvestment and financing decisions, expound several analytical methods used to come to conclusions
with varied problems in financial management.
Unit-I
Structure of a financial system; Functions of financial sector; Financial system and economic development; Structure of
financial markets: debt and equity market, primary and secondary market, exchange and over the counter market, money and
capital market in India; SEBI and capital market reforms; Financial instruments; Four types of credit market instruments; Risk
structure of interest rates; Theories of term structure of interest rates: Pure Expectation theory, Market Segmentation theory,
Liquidity Premium theory.
Unit-II
Time value of money; Simple interest, Compound interest and annual percentage rates; Depreciation; Net Present Value and
Internal Rate of Return; Annuities, debt repayments, Sinking funds; Risk: concept, types and measurement; concept and types
of return; Risk-Return trade-off; Beta of an asset and of a portfolio, Modern portfolio theory; Capital asset pricing model; The
capital market line; Security market line; Equity valuation; Bond valuation;
Unit-III
Insurance: need, meaning, types, goals and principles, Adverse Selection and Moral Hazards; Mutual funds: meaning,
evolution, types, goals, advantages/disadvantages; NAV; Role of mutual funds in economic development.
Derivatives: meaning, types and uses, Forward and Futures contracts, Features of Futures contracts, use of Futures for hedging;
Options: meaning, types and features, Uses of Options.
Readings:

1. Bodie, Robert c Merton and David Cleaton (2009), Financial Economics, Pearson
2. Elton, Gruber Brown, Goetzmann (2007), Modern Portfolio Theory and Investment Analysis
3. Prasanna Chandra (2010), International Analysis and portfolio Management, Tata McGraw Hill
4. Avadhani, V.A. : Investment and Security markets in India, Himalaya Publishing House, New
Delhi.
5. Bhole, L.M. : Financial Institutions & Markets, Tata McGraw-Hill Publishing Co., New Delhi
6. Miskin. F : Economics of Money, Banking and Financial Markets, MIT Press, Cambridge
Websites for reference
http://financialmanagement-strategy.com
http://financialmanagementguide.investmentzone.com http://web.info.comt
http://www.global-investment-institute.com

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Max. Marks : 100
Syllabus for B.A. (Hons.), Economics
Sessional : 30
SEMESTER-V
End-Sem. Exam. : 70
ECB-591, Indian Economy
(Open Elective Course)
(For students of other Departments who have not offered Economics as a Subsidiary subject)

Credits: 02

Objectives: Indian economy has already undergone many changes. This transformation is still taking
place in every sector of the economy. However, many of the basic problems of the economy still Existing.
This course aims at giving students a reasonable introduction to Indian economy. After completing the
course, Students are expected to have good understanding of the Indian Economy.

Unit-I: Structure of Indian Economy

Basic features, Human Resource Development, Broad demographic features, Population and economic
development, Growth and structural changes in Gross Domestic Product, Five Year Plans: An over view,
NITI Aayog: Objectives and functions.

Unit-II: Agriculture and Industry

Causes of low productivity in Indian agriculture, Institutional and Technological reforms, Agricultural
finance and marketing. Industrial growth in India, New Industrial policy, Privatisation and disinvestment
debate, Micro Small and Medium enterprises: problems and prospects.

Readings:
1. Agarwal A.N. : India Economy: Wishwa Prakashan 37 edition
2. Bansil P.C. : Agricultural Problems of India, Vikas Publishing House Pvt. Ltd.
3. Bhalla, G.S. : ‘Indian Agriculture since Independence ( 2008), NBT. New Delhi
4. Dutt and Mahajan : India Economy, S. Chand & Company Ltd., 68th Edition
5. Government of India : Economic Survey (latest)
6. Kapila U. : Indian Economy since Independence Academic foundation, New Delhi
7. Misra and Puri : Indian Economy, Himalaya Publishing House, 29th Edition.
8. Panagariya, A. : India: The Emerging Giant. USA: OUP
9. Rakshit, M. : A Macroeconomics of Post-Reforms India. New Delhi: OUP.

Websites for reference

http://dare.nic.in http://agricoop.nic.in http://planningcommission.gov.in
http://civilaviation.nic.in http://mohfw.nic.in http://www.indianrailways.gov.in
http://rural.nic.in http://morth.nic.in http://shipping.gov.in
http://ssi.gov.in http://ssi.gov.in http://commin.nic.in

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Semester-V Max. Marks : 100
ECB-561, Environmental Economics Sessional : 30
Credits: 04 End-Sem. Exam. : 70

(Elective Course)
Objectives: The course will introduce the students to the basic concepts of environmental
economics,meaning and types of environmental values. The students would also be familiarised with
nature of environmental goods and problems associated with their use as well as various theories
associated with the study of environmental economics. The course will also help in developing an
understanding of various environmental issues, their consequences, concept of sustainable development as
an alternative as well as instruments of environment policy.
UNIT-I: Introduction
Environmental economics- Evolution,scope and importance; Environment and economy;Concept of
ecology, ecosystem and environment;Exhaustible and renewable natural resources; Economics of climate
change; Environmental pollution; Growth and environmental degradation; Climate change, hunger and
poverty; Climate change and forest fires.
UNIT-II: Environmental Theories
Characteristics of environmental goods; Environment as a public good; Free rider problem; Externalities;
markets and market failure; Common pool resources and ‘Tragedy of the Commons’; Social cost benefit
analysis; Sustainable development: concept and measurement; Meaning and types of environmental values;
Valuation of intangible benefits of environment; market valuation v/s non-market valuation;
Environmental accounting: objectives, role and limitations;Risk assessment and perception.
UNIT-III: Environmental Issues & Policy
World Conference on Human Environment (1972), World Commission on Environment and Development
(Brundtland commission) 1984, COP 21: Paris Climate Agreement ; Global Warning: Acid Rain; Marine
pollution, El-Nino effects; Trans-boundary environmental problems; Trade and environment;
Environmental movements in India; Environmental consequences of deforestation and degradation of
forests, land degradation; Biodiversity loss and consequences; Major Environment Organisations and
Events: Green Peace Movement, The World Conservation Union, The Nature Conservancy, Sierra Club,
WWF, UNEP, UNCED; Need for an environment policy and its instruments; India’s environment policy;
Readings:
1. Bhattacharya , R. N. (Ed.), : Environmental Economics: An Indian Perspective, OUP, 2001.
2. Boumal, W.J. and W.E. Oates : “The Theory of Environmental Policy”, 2nd Edition, Cambridge University Press, UK
3. Charles Kolstad, : Intermediate Environmental Economics, OUP, 2010.
4. Kolstad(2003) : Environmental Economics, Oxford University Press.
5. N.Hanliy, J.Sogrin and : Introduction to Environmental Economics, Oxford University Press.
B.White (2001)
6. Oates, W. E. : Economics of the Environment, Edward Elgar.
7. Pearce, D. W. : Environmental Economcs, MacMillan.
8. Robert N. Stavins (ed.), : Economics of the Environment: Selected Readings, W.W. Norton, 2005.
9. Roger Perman, Yue Ma, : Natural Resource and Environmental Economics,
James McGilvray Pearson Education / Adison Wesley, 2003.
and Michael Common
10. Tietenberg, T. : Environment and Natural Resource Economics, 6th Edi. Pearson Education Inc. New Delhi.
11. Pearce D. W. and : Economics of Natural Resources and Environment, Baltimore,
Maryland USA: The johns Hopkins University Press
Websites for reference
http://www.tutor2u.net/economics/content/topics/externalities/what_are_externalities.htm
http://pespmc1.vub.ac.be/asc/EXTERNALITI.html
http://www.uwmc.uwc.edu/geography/Demotrans/demtran.htm
http://www.globalchange.umich.edu/globalchange1/current/lectures/kling/ecosystem/ecosystem.html
http://www.rpi.edu/dept/chem-eng/Biotech-Environ/ECOLOGY/project.html
http://www.eagle.ca/~matink/themes/Environ/pollute.html
http://www.nelincs.gov.uk/AtoZ/atozDetail?ID=6851

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-V Max. Marks : 100
ECB-562, Mathematical Economics Sessional : 30
End-Sem. Exam. : 70
Credits: 04
(Elective Course)

Objectives:The main objective of this paper is to expose the students to use the techniques of
mathematicalanalysis, which are commonly applied to understand and analyze economic problems.
Therefore the emphasis is on understanding economic concepts with the help of mathematical methods
rather than learning mathematics itself. This course looks at the theory of consumer behaviour as well as
the behaviour of a competitive firm. It also covers input-output analysis, linear programming and game
theory.
Unit –I: Consumer Theory and Production Function
Consumer Theory: Utility function; budget line; Constrained optimization; Consumer’s equilibrium;
Income effect; substitution effect and price effect; Slutsky equation; Derivation of demand curve.
Properties of production function — Homogeneous and non-homogeneous; Cobb-Douglas, CES, Returns
to scale; Technology progress and production function; Choice of optimal combination of factors of
production; Cost and revenue functions; Derivation of cost curves; Relation between total, average and
marginal cost and revenue; Producer’s surplus; Production possibility curve; Adding up theorem.
Unit-II: Market Structure and Game Theory
Concept of equilibrium; Equilibrium of the firm under perfect competition, monopoly, price
discrimination, monopolistic competition; Subsidies and taxes.
Game Theory: Concept, Pay-off matrix, Static games of complete information, Normal form game and
Nash equilibrium, Cournot Bertrand models of Duopoly.
Unit-III: Input-Output Analysis and Linear Programming
Input – Output Analysis: Assumptions; Transaction matrix: Technical coefficients, Hawkin – Simon
Conditions, Metzler condition, open and close input-output systems.
Linear Programming: Formulation of linear programming problem. Graphical method, Simplex method,
Two-phase simplex method, unbounded solution, infeasible solution, degeneracy and cycling problem.
Duality theorem, Solution of primal and dual by simplex method.
Readings:
1. Allen, R.G.D. (1974),: Mathematical Analysis for Economists, Macmillan Press, London.
2. Chiang, A.C. (1986),: Fundamental Methods of Mathematical
Economics (3rd Edition), McGraw Hill, New Delhi.
3. Colell, A. Mas et. al. (1991), : Microeconomic Theory, Harvard University Press, Cambridge, Mass.
4. Hands, D.W. (1991),: Introductory Mathematical Economics, D.C. Heath.
5. Henderson, J. and, : Microeconomic Theory: A Mathematical Approach,
R.E. Quandt (1980) McGraw Hill, New Delhi.
6. Handy, S.T. (1997), : Operations Research, Prentice-Hall of India, New Delhi.
7. James, Bergin. : Mathematics for economists. Routledge
9. Mukherji, B. And : Mathematical Method of Economic Analysis, Allied Publishers,
Pandit (1982) New Delhi.
10. K. Sydsaeter and : Mathematics for Economic Analysis, Pearson Educational
P. Hammond (2002), Asia, Delhi.
11. Salam, Md. Abdus (2012), : An Introduction to Mathematical Economics, LAP LAMBERT
Academic Publishing GmbH & Co.KG, Germany
12.Yamne, Taro(2012) : Mathematics for economists. Literary Licensing,

Website for Reference

http://www.math.tifr.res.in/maths/all-journals.html http://www.uccollege.edu.in

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Semester-V Max. Marks : 100
ECB-563, Regional Economics Sessional : 30
End-Sem. Exam. : 70
Credits: 04
(Elective Course)

Objectives: It is increasingly recognised that market forces do not result automatically in

regionallybalanced development of developing countries. To help develop these less developed regions it is
necessary to understand the dynamics of regional development. This course deals with the concepts and
aspects of spatial price theory and macro economics. Students are given a broad overview of the technique
of regional analysis. It also contains a section on Indian experience in regional policy implementation.

Unit-I
Concept of Region and Regional Economics; Regional Income; Indicators of regional development.
Location of Firms: One market one input case; Locational interdependence; Hotelling phenomena.
Unit-II
Spatial Price Theory: Price equilibrium in geographically separated and interlinked markets, objectives and
procedures for location choice, Aspects of spatial pricing policy and market areas.
Spatial Macro Economics: Inter-Regional Income Models; Inter-Regional Factor Movements;
Regional multiplier.

Unit-III
Regional Growth: Neo-classical growth models-Cumulative causation model; Center-periphery model;
Convergence and divergence of disparities in per capita regional income.
Techniques of Regional Analysis: Regional and interregional input-output analysis;
Regional Policy: People prosperity versus place prosperity; Formulation of interregional objectives;
Consistency between national and regional objectives; Regional Policy in India and Liberalization.
Readings:

1. Brahmananda, P.R.and : Development Experience in the Indian Economy: Inter-State V.R. Panchmukhi (Eds.)
(2001), Perspectives, Bookwell, Delhi.
2. Chand, M. and V.K. Puri (1983),: Regional Planning in India, Allied Publishers, New Delhi.
th
3. Hall, Peter (2010), : Urban and Regional Planning , 5 Edition, Routledge
4. Hoover, E.M. (1974), : An Introduction to Regional Economics, Alfred A Knopf, New York..

5. Isard, W. (1960), : Methods of Regional Analysis, MIT Press, Cambridge Mass.

6. Nair, K.R.G. (1982), : Regional Experience in a Developing Economy, Wiley-Eastern, New Delhi
7. Richardson, H.W. (1969), : Regional Economics, Weidenfield and Nicolson, London.
8. Seth, V.K (1987), : Industrialisation in India: A Spatial Perspective, Commonwealth
Publishers, New Delhi.
9. Siebert, H (1969), : Regional Economic Growth: Theory and Policy, International
Textbook Company, Scranton
10. Smith David M, (2007),: Industrial Location: An Economic Geographical Analysis, John Wiley &
Sons Limited
11. Wright, Mark (1968), : Industrial Location and Regional Policy, Prentice Hall Press

Websites for Reference

www.sfu.ca/wwwgeog2/wp-
content,www.rri.wvu.edu/webbook/giarratani/chapterfour.htmplanningcommission.nic.in, www.nber.org,
https://www.economicsnetwork.ac.uk , https://faculty.washington.edu/krumme/207/inputoutput.html,
www.ashgate.com

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Max. Marks : 100
Semester-V
Sessional : 30
ECB-564, Human Resource Development
End-Sem. Exam. : 70
Credits: 04
(Elective Course)

Objectives: The objective of this paper is to equip the students with theoretical concepts, methodology
andprocess of reasoning involved in analysing economic behaviour of individuals, firms and markets.
The role of public -private investment in context of human capital, issues of health insurance, financing
and functioning of the market for human resources is discussed.

Unit -I
Human Resource Development (HRD): Concept; Functions; Traditional and Modern approaches; Human
Resource Development and Manpower Planning. Role of Health and Education in Human Development.
Importance in poverty alleviation;

UNIT - II
Human Capital: Concept; Problems of measurement; Role of public and private investment in human
capital formation; Economics of education (formal, informal, on the job training and re-training). Rate of
return to education: private and social. Education Sector in India: An Overview. Literacy rates, school
participation, school quality measures.
Health Economics: Demand for health; uncertainty and health insurance market; Market failure and
rationale for public intervention; equity and inequality. Health Sector in India: An Overview. Health
outcomes; health systems; health financing.

UNIT - III
Functioning of Market for Human Resources: Internal allocation and brain drain, Asymmetric
Information and Functioning of the Human Resource Market; Migration (Theories and the emerging
challenges); Managing Human Resources. Demand and supply forecasting, wages, incentives -
productivity relationship, economics of discrimination.

Readings:
1. B.Bellante, Don and Mark Jackson : Labor Economics: Choice in Labor Markets. McGraw- Hill
Book Company, New York
2. Becker, Gary, S (1957) : Economics of Discrimination University of Chicago Press,
Chicago
3. Campbell, R McDonnel : Contemporary Labor Economics, McGraw – Hill Book
Company, New York and Brue Stanley, L
4. Kempton, John : Human Resource Management and Development:
Current Issues and Themes. McMillan, London
5. Richard B Peterson and Lam Tracy :Systematic Management of Human Resources, Addison
Wesley Publishing Company, London
6. Ronald G., Ehrenberg and : Modern Labor Economics: Theory and Public Policy,
Robert S., Smith Addison Wesley, 2005.
7. Sayeed M. : Human Resource Accounting, D,K.Kulshreshtha,
Anmol Publications, New Delhi
8. Schultz, Theodore W (1981) : Investing in People: The Economics of Population
Quality, Hindustan Publishing Corporation (India),
9. Sen, A K (1975) : Employment, Technology and Development Oxford
University Press, New Delhi
10. Solow, R M (1990) : Labour Market as an Institution, Blackwell, London
11. Standing G& V Tokman (eds.) (1991): Towards Social Adjustment ILO, Geneva
12. Stoney, John J (ed.) : Human Resource Management: A Critical Text Routledge,
London
13. P.P. Arya and R.P.Gupta : Human resource management and accounting, Deep &
Deep Publications Pvt Ltd, New Delhi

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

14.Venkata Ratnam, C S (2001) : Globalization and Labour-Management Relations:Dynamics

of Change. Sage Publications/Response Books, New Delhi.
15. William, Jack : Principles of Health Economics for Developing
Countries, World Bank Institute Development.
Studies, 1999
16. World Development Report : Investing in Health. The World Bank, 1993.

Websites for Reference

http://humanresourceplanning.purebusiness.com
http://www.wisegeek.com www.info.com/HumanResourcePlanning
http://www.bambooweb.com/articles/h/u/Human_Resources.html

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
SEMESTER-V Max. Marks : 100
ECB-565, Energy Economics Sessional : 30
End-Sem. Exam. : 70
Credits: 04
(Elective Course)

Objectives: This paper enables the students to understand the basics of energy economics and to solve
theproblems of energy and environmental issues.
UNIT-I: INTRODUCTION TO ENERGY ECONOMICS
Natural Resource: classification, importance,Role of Natural Resources in Economic Development; Energy
Resources: Types and classification; Properties of Energy; Forms of Energy; Emergence of Energy Economics:
Its nature and scope; Energy indicators;Energy Economics relation with other branches, Role of Energy in
Economic Development.
UNIT-III: ENERGY CONSEVATION AND MANAGEMENT
Energy Crisis: causes, consequences,Remedial measures; Energy Planning and Energy Conservation: Meaning,
objectives and importance; Energy Management: Meaning, Objectives and Importance; Energy Accounting;
Energy Pricing and Taxes; Role of Economists in Promoting Sustainable Energy Management.
UNIT-III: INDIA’S ENERGY PROFILE
Indian Energy Sector - Organizational Structure - Energy Supply (Coal, Lignite, Oil, Gas and Powers - Hydro,
Nuclear, Thermal) - Energy Demand (Agriculture, Industry, Transport, Domestic, etc) - Renewable Energy
Sources and Technology (Solar, Wind, Biogas, Biomass, Geothermal, OTEC, Tidal, Wave Hydrogen, Fuel Cell,
Bio-diesel) - Renewable Energy Programs - Energy under Five Year Plans - Energy Issues and Policy Options
for India.
Readings:
1. Agarwal, M.C. and Monga , J.R. - Economic and Commercial Geography, (National Publishing House, New Delhi, 1992)
2. Agarwal, S.K. - Environment and Natural Resources Economics (Scott Foresman & Co., London, 1985)
3. Common, M. - Environmental and Resource Economics (Longman, London,1996)
4. David Pearct et al - Sustainable Development - Economics and Environment in the Third World (Earths Can Publications,
London, 1990)
5. Deoffrey Kirk - Schemacher on Energy, Abacus, London, 1982.
6. Government of India: Tenth Five Year Plan (Planning Commission, New Delhi, 2002)
7. Hemalatha Rao - Rural Energy Crises: A Diagnostic Analysis ( Ashish Publishing House, New Delhi, 1990)
8. Karpagam, M. - Environmental Economics (Sterling, New Delhi, 1991)
9. Kneese. A.V and Sweeny, J.L, Handbook of Natural Resource and Energy Economics (North Holland, 1993)
10. Munasinghe,M and Meier, P - Energy Policy and Modeling (Cambridge University Press, UK, 1993)
11. Paul Stevens (Ed) - The Economics of Energy, Vol. I and II (Edward Elgar 2000)
12. Raikhy, P. S. and Parminder Singh., Energy Consumption in India - pattern and Determinants (Deep and Deep, New
Delhi, 1990)
13. Richard Eden - Energy Economics - Growth, Resources and Policies (Cambridge University Press, London, 1981)
14. Sankar U, Public Sector Pricing: Theory and Applications (IEA Trust for Research and Development, 1992)
15. TERI - Teri Energy Data Directory and Year Book 2005-06 (The Energy Research Institute, 2005)
16. William Burch (Ed.) - Readings in Ecology, Energy and Human Society: Contemporary Perspectives (Harper and Row,
New York, 1997)
17. World Bank - World Development Report 1992 (Oxford University Press, China, 1992)

Approved by BOS in its meeting held on 13.08.2018

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

Syllabus for B.A. (Hons.), Economics

Max. Marks : 100
Semester-VI
Sessional : 30
ECB-651, International Economics
End-Sem. Exam. : 70
Credits: 04

(Compulsory)

Objectives: This paper provides the students a thorough understanding and deep knowledge about the basic
principles that tend to govern the free flow of trade in goods and services at the global level. The contents of
the paper, spread over various units, lay stress both on theory and applied nature of the subject that have
registered rapid changes during the last decade. Besides this, the contents prepare the students to know the
impact of free trade and tariffs on the different sectors of the economy as well as at the macro level. The
students would also be well trained about the rationale of recent changes in the export-import policies of
India. This paper has become relatively more relevant from the policy point of view under the present waves
of globalization and liberalization.

Unit-l
Inter-regional & international trade; Theory of absolute cost advantage, comparative cost advantage &
opportunity cost: Hecksher-Ohlin theory of trade, Leontiff paradox; concepts of terms of trade; offer curves;
Singer Prebisch thesis; Foreign trade multiplier: concept, working and limitations.

Unit-ll
Foreign exchange; fixed vs fluctuating exchange rates;Spot and Forward markets; Purchasing Power Parity
theory, Demand and Supply theory; International Monetary system: An overview; Bitcoin: Nature and
working, Balance of trade & balance of payments; Disequilibrium in balance of payments; Measures to
correct deficits in balance of payments

Unit-Ill
Free trade vs. protection, Methods of protection, Effects of tariff and quota, Optimum tariff, Effective rate of
protection; GATT & WTO: Functions and agreements; Functions and achievements of IMF; Functions of
world Bank; World Bank and developing Countries; UNCTAD: An overview.

Readings:

1. Aggarwal, M.R. (1979) : Regional Economic Cooperation in south Asia,

S. Chand and Co., New Delhi.
2. Bhagwati, J. (Ed.) (1981) : International Trade, Selected Readings,
Cambride University Press, Mass
3. Cherunilam, F (2008 : International economics, McGraw Hill Education
(India) Private Limited;
4. Crockett, A. (1982) : International Money: Issue and Analysis, ELBS
and Nelson, London.
5. Greenaway, D. (1983) : International Trade Policy, Macmillan
Publishers Ltd., London.
6. Heller, H.R. (1968), : International Monetary Economics, Prentice
Hall, India.
7. Husted and Melvin (2013) : International Economics, Prentic hall
8. Joshi V. and M.D. Little (1998) : India’s Economic Reforms, 1999-2001,
Oxford University Press, Delhi.
9. Kajeldsenkregs, S : International Economics.
10. Kenan, P.B. (1994) : The International Economy, Cambridge
University Press, London.
Approved by BOS in its meeting held on 13.08.2018
 Department of Economics
AMU, Aligarh

11. Kindlberger, C.P. (1973) : International Economics, R.D. Irwin, Homewood.

12. Krugman, P.R. and : International Economics: Theory and Policy,
M. Obstgeld (1994) Glenview, Foresman
13. Mannur, H. G (1999) : International economy, VikasPublising House1 11. 14. Patrick, L.
: International Trade
15.Paul Krugman, : International Economics: Theory and Policy,
Maurice Obstfeld and Addison-Wesley (Pearson Education Indian
Marc Melitz, (2012.) Edition), 9th edition,
16. Salvatore, D.L. (1997) : International Economics, Prentice-Hall, Upper
Saddle. River, N.J
17. Sodersten, Bo : International Economics, Macmillan Press Ltd.,
London.
18. Thompson, M. (2011) : International economics, World Scientific Publishing
Company; 3 edition
Website for Reference
http://www.tradeget.com/partners.html http://commin.nic.in
http://ipindia.nic.in/ipr/patent/patents.htm http://dgft.delhi.nic.in
http://dipp.nic.in/ http://dipp.nic.in/intellectual_property_dipp.htm

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Max. Marks : 100
SEMESTER-VI
Sessional : 30
ECB- 652, Public Economics
End-Sem. Exam. : 70
Credits: 04

(Compulsory)

Objectives: The objective of the course is for students to develop an understanding of public sector
financialresources, Role and functions 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 to understand the basic problems of use of resources, distribution of income, etc. There are
vast array of fiscal institutions-tax systems, expenditure programmes, budgetary procedures, stablilization
instruments, debt issues, levels of government, etc., which raise 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.

Unit-I
Fiscal Functions-Allocation, distribution and stabilization; Theory of social goods, social goods and market
failure; Principle of Maximum social advantage, Externalities: The problems and solutions; Private and
public mechanism for allocating resources, Revealed preference theory, Voting system, Arrow impossibility
theorem.

Unit-II
Structure of Public Budget; Classification of taxes; Allocation of tax burden-Benefit and ability to pay
theories; Incidence and shifting of tax burden, dead weight loss and distortion; optimal taxation; Reforms in
India’s tax system.

Unit-III
Public Expenditure: Meaning and Importance,Wagner’s Hypothesis, Peacock - Wiseman Hypothesis,
Classification of Public expenditure, Expenditure evaluation principle, trends in India’s public expenditure;
Public debt-sources and its impact on economic growth, Debt redemption, Fiscal federalism in India.

Readings:

1. Aronson, J, Richard : Public Finance, McGraw Hill Publications

2. Bagchi, Amrish (Ed.) : Readings in Public Finance, Oxford University Press
3. Bhatia H.L. : Public Finance, Vikas Publishing House Pvt.Ltd. New Delhi
4. Datt, R. and K.P.M. Sundram. : Indian Economy, S. Chand & Company Ltd.
5. Eckstein, Otto. : Public Finance, Prentice-Hall
6. Govt. of India : Economic Survey (Latest).
7. Harvey Rosen : Public Finance, McGraw Hill Publications,7th edition, 2005.
8. Hulman, A.L : Public finance and public policy., Cambridge University Press
9. Jha R. : Modern Public Economics, Routledge London
10. Joseph E. Stiglit : Economics of the Public Sector, W.W. Norton
& Company, 3rd edition, 2000.
11. Mahesh Purohit : Value Added Tax: Experiences of India and
Other Countries, 2007.
12. Mishra, B. : Economics of Public Finance, MacMillan
Publication
13. Mishra &Puri : Indian Economy. Himalaya Publishing House,
New Delhi.
14. Musgrave, Richard A, and : Public Finance in Theory & Practice. McGraw
Approved by BOS in its meeting held on 13.08.2018
 Department of Economics
AMU, Aligarh

Musgrave, Piggy B Hill Publications

15. Reserve Bank of India. : State Finances: A Study of Budgets (Latest)
16. Standford, C.T : Economics of Public Finance, Oxford,
Pergamon Press, New York.
17.Taylor, Philip, E. : Economics of Public Finance, MacMillan
Publication.

Websites for Reference

http://finmin.nic.in http://indiabudget.nic.in http://policies.gov.in

http://finmin.nic.in/revenuesummary/login.asp;http://finmin.ni
c.in/topics/center_state_finance/index.html
http://finmin.nic.in/the_ministry/dept_eco_affairs/economic_div/eco_survey/index.htm
http://finmin.nic.in/stats_data/central_govt_borrowings/index.html
http://finmin.nic.in/foreign_investment/dissinvestments/index.html

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Max. Marks : 100
Semester-VI
Sessional : 30
ECB-653, Development Economics
End-Sem. Exam. : 70
Credits: 04
(Compulsory)
Objectives:This paper aims to enable the students to know about theories of growth and
development,sectoral aspects of development, importance of economic policies and techniques of planning
and its recent adaptation in the light of market dominated strategy.
Unit-I
Economic growth and development:Meaning, measurement and international comparisons; Concept of
sustainable development; Human Development Index and other indices of development and quality of life;
Capital Formation: Meaning and sources; capital – output ratio; Characteristics of Developing Countries;
Population problem: Theory of demographic transition; Kuznet’s inverted ‘U’; Poverty and environment;
Role of institutions in economic development.

Unit-ll
Classical models of growth and development: Marxian model, Schumpeter’s model, Mrs. Joan Robinson's
growth model; Rostow’s Stages of economic development.
Partial Theories of Growth and Development: Vicious Circle of Poverty, Circular Causation, Unlimited
Supply of Labour, Big Push, Balanced Growth, Critical Minimum Effort Thesis, Low Income Equilibrium
Trap; Dualism-Technical, Behavioral and Social..

Unit-Ill
Development planning: Concept, meaning, technique and types; Market versus planning; Relevance of
planning in the context of globalisation; Project formulation and evaluation: Cost-Benefit Analysis;
Domestic and external sources of finance; Human capital formation: Meaning and problems, Migration:
Harris-Todaro model and its policy implications.

Readings:

1. Aghion, P. and Peter Howit (2011) : Economics of Growth, PHI Learning Pvt. Ltd., New Delhi.
2. Debraj Ray, (2009.) : Development Economics, Oxford University Press,
3. Ghatak, S. (1986) : An Introduction to Development Economics, Allen and Unwin, London.
4. Graboski, R. : Economic Development.
5. Hayami, Y. (1997) : Development Economics, Oxford University
6. Higgins, B : Economic Development, Norton Press
7. MisraPuri : Economics of development of planning, Himalaya Publishing House, New Delhi.
8. Mukherjee, SK : Textbook of economic development, Oriental Longman, Calcutta
9. Ray, Debraj(1988) : Development Economics OUP, New Delhi.
10. Thirlwal, AP : Growth of Development, 7Th Ed, Macmillan, London
11. Thomas Schelling : Micromotives and Macrobehavior, W. W. Norton, 1978.
12. Todaro, MP : Economic development, 7th Ed, Pearson Education, South Asia.
13. Chari, Sharad and : The Development Reader, Routledge London Staurt Corbridge (2008)
14. Zuvekas C : Economic Development, Macmillan, London Press, New York.
Websites for Reference
http://en.wikipedia.org/wiki/Macroeconomics http://www.oswego.edu/~economic/eco300.html
http://www.stanford.edu/~sargent/ljungqvist.html http://cepa.newschool.edu
www.oecd.org,www.unesco.org, https://chitta121986.wordpress.com/developmental-economics

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A. (Hons.), Economics
Max. Marks : 100
Semester-VI
Sessional : 30
ECB-654, Agricultural Economics
End-Sem. Exam. : 70
Credits: 04
(Optional)
Objectives:The importance of agriculture in an economy can hardly be emphasised. This course
introducesstudents to importance of agriculture sector and to the issues associated with agricultural
transformation. Issues of pricing, finance and marketing of agricultural product is discussed besides
emphasizing emerging trends in agriculture like biotechnology. The objective is to equip students to analyse
and critically assess issues, policies and programmes in these areas with particular emphasis on Indian
agriculture.

Unit-1:
Economics of Agriculture Nature, scope and its importance in the economy; Role of agriculture in economic
development; Mellor’s approach and Lewis Model; Linkages between agriculture and industry; Sustainable
agricultural development; farm size and productivity; basic features of Indian agriculture. Emerging trends
in agricultural technology; Dry land farming and use of bio technology techniques,
Unit-II:
Pricing, Finance and Marketing of Agricultural Product Determination of agricultural price under perfect
and imperfect competition, Price and non-price incentives to agriculture in India, Price policy in India;
Terms of trade between agriculture and industry; Agriculture Finance in India: Importance, types of
requirements, sources-institutional and non-institutional; Agricultural marketing in India: Regulated markets
and warehouse; Food security bill-2012.
Unit-III:
Basic features of Indian agriculture, Diversification of Agriculture in India Treads in agriculture growth and
agricultural productivity, Pattern of agricultural development-regional variation; Capital formation; Green
revolution: Impact on production, Climate change and agriculture; WTO and Indian Agriculture. Recent
government policy for agriculture development.

Readings:

Bahaduri, A. :The Economic Structure of Backward Agriculture,

Academic Press
Bansil, P.C, : Agricultural Problems of India, Vikas Publishing
House Pvt. Ltd
Dasgupta, B. : The Agricultural Technology in India.
Dutt, R & Sundaram, K.P.M. : Indian Economy, S. Chand & Company Ltd.
Ellis, Frank. :Peasent Economics, Combridge University Press
Eicher & Witt : Agriculture in Economic Development, McGraw Hill.
GS Bhalla : Agricultural Development since Independence,
National Book Trust
MishraS.K. &PuriV.K. : Indian Economy. Himalaya Publishing House,
New Delhi.
Modi A. (1982) :Gr. Distribution Evaluation of Agricultural
Marketing
More, J.A. &Joshi S.S. :IndianFoodgrains Marketing.
A.M. Khusro
Norton,Jeorge. W. : Economics of Agricultural Development, Routledge

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

R.N. Soni : Leading Issues in Agricultural Economics,

Vishal Publishing Co.
SadhuA.N. & Singh A. : Fundamental of Agricultural Economics.,
Himalaya Publication
SubrateGhattak& Kent Ingergesent : Agriculture & Eco. Development.,
Johns Hopkins University Press, California.
TW Schultz :Transformation of Traditional Agriculture, Oxford
University Press
WadhavaC. D. : Some Problems of India's Economic Policy.

Websites for reference

http://ari.gov.in http://aquaculture.tn.nic.in
http://agricoop.nic.in, www.igidr.ac.in,
www.sciencedirect.com

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh
Syllabus for B.A.(Hons.), Economics
Semester-VI Max. Marks : 100
ECB-661, Econometric Methods Sessional : 30

Credits: 04 End-Sem. Exam. : 70

(Elective Course)

Objectives: Though Econometrics is an amalgam of economic theory, mathematical economics

andstatistical theory, it needs to be studied separately for many reasons. Econometric methods have
proved particularly useful for understanding the interrelationships in the economic variables. Use of
econometrics has given greater precision in establishing such relationships. The syllabus includes the
basic concepts of estimation and the estimation of linear regression model by applying OLS method.
The students are also supposed to learn the problems associated with OLS estimation like auto-
correlation, heteroscedasticity and multicollinearity. The lag econometric models along with the use of
dummy variables is also a part of the syllabus. Hope all these will add vigour to the understanding of
economic problems.
Unit-I: Linear Regression model
Definition and scope of econometrics; Methodology of econometric research; Basic concepts of
estimation; desirable properties of estimators; Simple Linear Regression Model: assumptions, estimation
(through OLS method), Gauss- Markov Theorem, interpretation of regression coefficients.
General linear regression model– assumptions, estimation, and interpretation of regression coefficients.
Testing of regression coefficients and test for regression as a whole. Coefficient of determination.
Unit-II: Problems in OLS Estimation
Problems of Heteroscedasticity; Auto correlation (first order) and Multicollinearity – their
consequences, tests and remedies, Specification error.

Unit-III: Lag Models and Summary Variables

Lags econometric models – Concepts, Koyck model; Partial adjustment and adaptive expectation
models; Dummy variables and it’s uses- D.V. as an alternative to Chow test, the interaction effects, use
of D.V. in seasonal analysis. Proxy variables – Concept and uses.
Reading:
1. Daugherty, C (2011) : Introduction to Econometrics, OUP Oxford; 4 edition
2. DimitriosAsteriouand(2007) : Applied Econometrics: A Modern Approach, Palgrave Stephen Hall
Macmillan
3. Greene, W. (1997), : Econometric Analysis, Prentice Hall, New York.
4. Griffith, W.F., R.H. Hill), : Learning and Practicing Econometrics, john Wiley, and G.G. Judge
(1993) New York.
th
5. Gujrati, D. (2007), : Basic Econometrics, (4 Edition), McGraw Hill, New
Delhi.
6. Hatikar, N. R.(2010) : Principles of econometrics, Sage India
7. Jeffrey M. Wooldridge,(2014) : Econometrics, Cengage Learning, India Edition,
8. Johnston, J. (1985), : Econometric Methods, McGraw Hill, New York.
9. Johnston, J. : Econometric Methods, McGraw Hill, New York.
and J.D. Nardo (1997),
10. Kmenta, J. (1997), : Elements of Econometrics, Michigan Press,
New York.
11. Koutsoyiannis, A. (1977), :Theory of Econometrics, (2nd Edition), The
Macmillan Press Ltd., Hampshire.
12. Maddala, G.S. (1993), : Econometrics – An Introduction, McGraw Hill,
New York.
Websites for reference
www.statsoft.com www.statcounter.com www.meandeviation.com
www.math.about.com http://www.cne.gm, http://www.indiastudycenter.com, http://www.iisc.ernet.in

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

Syllabus for B.A. (Hons.), Economics

SEMESTER-VI Max. Marks : 100
ECB-662, Rural Economics Sessional : 30
End-Sem. Exam. : 70

Credits: 04
(Elective Course)

Objectives: The course on Rural Development attempts to sensitize students about the dynamics of
changesin the rural economy. It includes the study of problems faced by rural population and also
includes the critical review of various schemes and projects that benefit the rural population. Emphasis
will be on the study of rural development as an integral part of overall socioeconomic development.

Unit-I
Rural Economics: Nature and Scope, Special Features of Rural Economy, Factors affecting Rural
Economy. Approaches to Rural Development; Sectoral, Multi-sectoral, Territorial and Local. Resource
Use; Land Utilization and Land Reform, Rural Labour and Employment, Rural employment schemes in
India. Forest Resource and Social Forestry, Other Allied Activities-Animal Husbandry, Diary and
Poultry.

Unit-II
Capital formation: Savings and Assets Formation, Rural Finance and Sources of Rural Credit, RBI and
Rural Credit, Role of Co-operative and Commercial Banks in Rural Finance. NABARD and RRBS;
Micro-finance Problems of Rural Indebtedness. Rural Marketing: Traditional and Regulated Markets

Unit-III
Technical Changes in Agriculture, Rural Industrialization, SEZs and Mini-industrial Estates. Economic
and Social Infrastructure: Concept of PURA and Bharat Nirman. Strategies of Rural Development during
Five Year Plans

Readings:

1. Aziz, Sartaj : Rural Development Learning from China.

2. Hirschman,A,O. : The Strategy of Economic Development.
3. Singh, Radha Raman : Studies in Regional Planning and Rural Development
4. Shah, S.M. : Rural Development, Planning and Reforms. Whitby, M.C. D.L.J.
5. Robins, A.N. Tensery : Rural Resources Development K.G.Wills.
6. Nangundappa, D.M. : Area Planning and Rural Development.
7. Arora, R.C : Integrated Rural Development.
8. Raghava Rao, D.V. : Panchayats and Rural Development.
9. D.S., Tyagi : Public Distribution in India.
10. SukhpalSingh : Contract Farming and the State : Experience of
Thailand and India, Kalpaz Publications, 2006.

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

Syllabus for B.A. (Hons.), Economics

SEMESTER-VI Max. Marks : 100
ECB-663, Economics of Education Sessional : 30
End-Sem. Exam. : 70

Credits: 04
(Elective Course)

Objectives: The main objectives of this course are that by the end of the course, students are expected to:
-Appreciate the importance of education at individual and societal level
- Have an insight into the education-economic development linkages
-Have a clear understanding with regards to India’s education system and related concerns

Unit- I: Economics of Education

Economics of Education: meaning, nature and scope; Educational indicators; Educational production
function; Education and Social Justice.
Unit -II: Education Planning and Finance
Education planning techniques, Cost – Benefit Analysis, Theories of Public Expenditure; Effects of
Education on levels of earnings and value based education

Unit III: Education in India

Educational Institutions: Primary, Secondary and Tertiary Level, Sarva Shiksha Abhiyan; Right to
Education and Legislations relating to Right to Education with special reference to Constitutional
provisions/Preamble; Higher Education in India: Issues, Concerns and New Directions; Vocational
Educational System.

References:

1. Belfield, C.R. (2000), Economic Principles for Education: Theory and Evidence, Edward
Elgar Publishing.
2. Deka, B. (2000), Higher Education in India: Development and Problems, Atlantic Publishers &Dist.
3. Jha, P., Das, S., Mohanty, S.S. and Jha, N.K. (2008), Public Provisioning of Elementary
Education inIndia, Sage Publications India Pvt. Ltd.

Approved by BOS in its meeting held on 13.08.2018

 Department of Economics
AMU, Aligarh

Syllabus for B.A. (Hons.), Economics

SEMESTER-VI Max. Marks : 100
ECB-664, Labour Economics Sessional : 30
End-Sem. Exam. : 70

Credits: 04
(Elective Course)
Objectives: This paper exposes students to theoretical as well as empirical issues relation to the
labourmarket with special reference to India.
Unit-I
Nature and characteristics of Labour Markets in developing countries like India; Classical, neoclassical
and dualistic theories of labour markets; Analysis of demand and supply of labour; Mobility and
Productivity of labour; Methods of recruitment and placement.
Unit-II
Unemployment : Concepts, Causes and Measurement ; Employment Policy in Five year Plans and its
evaluation, Classical, neo-classical and bargaining theories of wage determination ; Concepts and causes
of wage differentials ; Productivity and wage relationship.
Unit-III
Growth, Structure and pattern of trade unionism ; Causes of Industrial disputes; methods of settlement;
Collective bargaining, conciliation ; arbitration and labour participation in management ; Growth, pattern
and structure of labour unions in India. State and social security of labour in India; Problem of child
labour; Labour market reforms: Exit policy and measures imparting flexibility in labour markets;
Globalisation and labour markets.
Readings :

1. Hajela, P.D. (1998), Labour Restructuring in India : A Critique of the New Economic Policies, Commonwealth Publisher,
New Delhi.
2. Lester, R.A. (1964), Economics of Labour, (2nd Edition), Macmillan, New York
3. McConnell, C.R. and S.L.Brue (1986), Contemporary Labour Economics, McGraw-Hill, New York.
4. Papola, T.S., P.P.Ghosh and A.N.Sharma (Eds) (1993), Labour, Emloyment and Industrial Relations in India,
B.R.Publishing Corporation, New Delhi.
5. Venkata Ratnam, C.S.(2001), Globalization and Labour-Management Relations : Dynamics of Change, Sage Publications /
Response Books, New Delhi.
6. McCormickm B. and Smith (Eds) (1968), The Labour Market, Penguin, Harmondsworth.
7. Das, N. (1960), Unemployment, Full Employment and India, Asia Publishing House, Bombay.
8. Deshpande L.K. and J.C.Sandesara, (Eds) (1970), Wage Policy and Wages Determination in India, Bombay University
Press, Bombay.
9. Hicks J.R. (1932), The Theory of Wages, Clarendon Press, Oxford.
10. Mazumdar, D. (1989), Micro-economic Issues of Labour Markets in Developing Countries, EDI Services Paper No.40,
World Bank, Washington D.C.
11. Memoria, C.B. (1966), Labour Problems and Social Welfare in India, Kitab Mahal Allahabad.
12. Punekar, S.D.(1978), Labour Welfare, Trade Unionism and Industrial Relations, Himalaya Publishing House, Bombay.
13. Singh V.B. (Ed) (1970), Industrial Labour in India, Popular Parakashan, Bombay.
14. Misra, L. (2000), Child Labour in India, Oxford University Press, New Delhi.
15. Riveros, L. (1990), Labour Market Policies and Labour Market Reforms in Socialist Economies, World Bank, Washington
D.C.
Approved by BOS in its meeting held on 13.08.2018