Programme Guide of MEC MA Economics (English)
Programme Guide of MEC MA Economics (English)
(ECONOMICS)
PROGRAMME GUIDE
Important Information
“The University sends study materials to the students by registered post and if a student does not receive the
same for any reason whatsoever, the University shall not be held responsible for that.”
“In case you want to have access to IGNOU course materials in electronic form you may visit the website –
www.egyankosh.ac.in .”
“Assignments are uploaded online on the University’s website. Students are advised to download it from the
IGNOU website – www.ignou.ac.in.”
“The students are specifically instructed to submit the Examination Forms through online mode ONLY and
as suggested under Section 7.2. Students are also advised to submit the Registration/Re-registration Forms
through online mode ONLY and with late fee as per instructions given under Section 4. If any student sends
the Registration/Re-registration Forms, Examination Forms at wrong places and thereby misses the scheduled
date and consequently a semester/year, he/she will have no claim on the University for regularization.”
Print Production
Sh. Tilak Raj
MPDD, IGNOU, New Delhi
Page No.
1. THE UNIVERSITY 4
4. SCHEME OF STUDY 7
6. INSTRUCTIONAL SYSTEM 9
6.1 Print Material 9
6.2 Counselling 10
6.3 Study Centre 11
7. EVALUATION 11
7.1 Assignments 12
7.2 Term End Examinations 14
Prominent Features
IGNOU has certain unique features such as:
international jurisdiction
flexible admission rules
individualized study: flexibility in terms of place, pace and duration of study
use of latest information and communication technologies
nationwide student support services network
cost effective programmes
resource sharing, collaboration and networking with conventional universities, open
universities and other institutions/organizations
socially and academically relevant programmes based on students need analysis
convergence of open and conventional education systems
Important Achievements
Emergence of IGNOU as the largest Open University in the world
Recognition as Centre of Excellence in Distance Education by the Commonwealth of
Learning(1993)
Award of Excellence for distance education materials by Commonwealth of Learning (1999)
Launch of a series of 24-hour Educational TV Channels ‘Gyan Darshan’. IGNOU is the
nodal agency for these channels and regular transmissions are done from the studio at EMPC,
IGNOU
Launch of ‘EDUSAT’ videoconferencing channel
Launch of ‘Gyan Vani’ and other dedicated educational FM channels
Eligibility
In keeping with the policy of ‘openness’ and ‘flexibility’, admission to MA (Economics) is open
to those having a Bachelor’s degree from any recognized university in any discipline including
those who have not studied Economics at the graduate level. There is no entrance test for seeking
admission into the programme. There is no age bar for admission.
Master’s degree awarded without a first degree is not recognized for purposes of admission to
IGNOU’s academic programmes.
Duration
The MA (Economics) programme can be completed in a minimum of two years and a maximum
of five years duration.
Medium of Instruction
The MA (Economics) programme is offered in both English and Hindi. The student has to opt
for a particular medium of study while applying for admission into the programme.
Credits
The University follows the credit system for most of its programmes including MA (Economics).
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Each credit in our system is equivalent to 30 hours of student study comprising all learning
activities (i.e., reading and comprehending print material, listening to audio-based materials,
watching video-based materials, attending counselling sessions, teleconference and writing
assignment responses). For obtaining MA (Economics) degree a student has to successfully
complete courses worth 66 credits.
Course Preparation
Learning material is specially prepared by teams of experts drawn from different universities
and institutions in the area throughout the country as well as the in-house faculty. The outline of
a course is finalised by the Expert Committee while the print material is written by course
writers. Before final printing, the materials undergo several rounds of scrutiny by course
coordinators and editors. Audio and video programmes are produced in consultation with subject
experts, in-house faculty and producers. The audio-video materials are previewed and reviewed
by the faculty as well as outside experts before they are dispatched for broadcast/telecast.
Programme Delivery
The methodology of instruction in IGNOU is different from that of conventional universities.
The Open University system is more learner-oriented and the learner is an active participant in
the teaching and learning process. Most of the instructions are imparted through distance education
methodology and for counselling face-to-face mode is adopted as per requirement. The
University follows a multi-media approach for instruction comprising self-instructional print
material, audio-visual material, counselling sessions, teleconferences and assignments.
4. SCHEME OF STUDY
The university reserves the right to change the rules from time to time. However, latest rules will
be applicable to all the students irrespective of year of registration. The Programme is offered
twice a year, in January and July.
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have to adjust your reading schedule keeping this workload in view. For example, if you could
study for 300 days in a year, you need to put in on an average 3 hours per day. It is helpful to
study consistently throughout the year rather than two or three months before the examinations.
If you are busy elsewhere and not able to fully devote yourself to the programme you should fix
your targets every year. If you feel that instead of 30 credits you would do only 24 or 18 credits
plan it from the beginning of the year, study only these courses, do the assignments for them and
appear for TEE. Carry over the rest to next year. Next year, again decide your goals. Whenever
you decide to do the previous year’s courses, always download and submit fresh assignments
uploaded on the website. Submit them according to the schedule and appear in the TEE.
Through a proper planning, you can finish this programme according to your convenience.
The University can revise the programme fee. The revised fee shall be payable by you as per
schedule of payment notified by the university.
The programme fee should be paid only by means of Debit Card/Credit Card through online
mode only.
Timely payment of programme fees is the responsibility of the student. Students are expected to
remit fee as early as possible without waiting for the last date.
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Sl.No July Session January Session Late Fee
(Rs.)
Note: Even if the university does not send any communication for re-registration in 2 nd
year, you are advised to visit our website www.ignou.ac.in during the relevant months
as mentioned above to seek registration.
6. INSTRUCTIONAL SYSTEM
The methodology of instruction in this University is different from that in the conventional
universities. The Open University System is more learner-oriented in which the student is an
active participant in the teaching-learning process. Most of the instruction is imparted through
distance rather than face-to-face communication.
The University follows a multi-media approach for instruction. It comprises,
self-instructional print material
audio and video cassettes
audio-video programmes transmitted through Television and Radio
teleconferencing session
face-to-face counselling at Study Centres by Academic Counsellors
assignments
The section Let Us Sum Up gives a brief account what has been discussed in the whole Unit.
This summary enables you to recall the main points covered in the Unit. To facilitate
comprehension, important words/terms covered in the Unit are explained in the section Key
Words. Some books for additional reading are suggested in the section Some Useful Books.
Some of these books would be available in the Study Centre. The Check Your Progress exercises
given in the end of a section are intended to give you an idea about the nature of questions that
may be asked in the TEE. Questions in Check Your Progress are for your practice only, and
you should not submit answers to these questions to the University for assessment.
Read the Units carefully and note down the important points. You can use the space in the
margin of the printed pages for making notes and writing your comments. While reading the
Units you may mark the difficult words and look for the meaning of such words under the
section Key Words or in a dictionary. If you still do not understand something, consult your
counsellor during the face-to-face sessions at the Study Centre for clarification.
6.2 Counselling
In distance education, face-to-face contact between the learners and their tutors/counsellors is
an important activity. The purpose of such an interaction is to answer some of your questions
and clarify your doubts, which may not be possible through any other means of communication.
It is also intended to provide you an opportunity to meet fellow students. There are experienced
academic counsellors at the Study Centres to provide counselling and guidance to you in the
courses that you have chosen for study. The counselling sessions for each of the courses will be
held at suitable intervals throughout the academic session. Attendance in the counselling sessions
is not compulsory. However, they may be useful in certain respects such as: to share your views
on the subject with teachers and fellow students, comprehend some of the complex ideas or
difficult issues, and get clarifications for many doubts which you would not otherwise try to
raise.
Face-to-face counselling will be provided to you at the Study Centre assigned to you. You should
note that the counselling sessions will be very different from the usual classroom teaching or
lectures. Counsellors will not be delivering lectures or speeches. They will try to help you to
overcome difficulties, which you face while studying for this programme. In these sessions you
must look into the subject-based difficulties and any other issues arising out of such difficulties.
Besides, some of the audio and videocassettes that are available at that time will be played in the
counselling sessions. For a 6-credit course there will be counselling of 18 hours duration. In
case there are less than 10 students in a Study Centre, then intensive counselling sessions will be
held which essentially means that 40 per cent of the prescribed counselling sessions are to be
conducted within a week’s time.
Before you go to attend the counselling sessions, please go through your course material
and note down the points to be discussed. Unless you have gone through the Units, there may
not be much to discuss. Try to concentrate on relevant and important issues. Try also to understand
each other’s points of view. You may also establish personal contact with your fellow participants
to get mutual help for academic purposes. Try to get the maximum possible help from your
counsellors.
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6.3 Study Centre
To provide effective student support, we have set up a number of Study Centres all over the
country. You will be allotted one of these Study Centres taking into consideration your place of
residence or work. However, each Study Centre can handle only a limited number of students
and despite our best efforts, it may not always be possible to allot the Study Centre of your
choice. The particulars regarding the Study Centre to which you are assigned will be communicated
to you. The list of Study Centres activated for MA (Economics) please visit IGNOU's website
www.ignou.ac.in
Depending upon low enrolment in a Study Centre, or due to other operational reasons, the
University may de-activate a Study Centre and the students of the de-activated Study Centre will
be attached to another Centre. The concerned Regional Centre will inform the concerned students
about the change after admissions are finalized.
7. EVALUATION
The evaluation consists of two parts in theory courses: i) continuous evaluation through
assignments, and ii) Term End Examination (TEE). In the final result all the assignments of a
course carry 30 per cent weightage while 70 per cent weightage is given for TEE. For the course
MECP-001: Project Report, which requires submission of a project report, there are no continuous
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evaluation and TEE. Evaluation for MECP-001 is on the basis of Project Report and viva-voce
examination on the project report submitted.
Evaluation in MA (Economics) will be done under numerical marking scheme. The following is
the scheme of awarding divisions:
I Division - 60 per cent and above
II Division - 50 per cent to 59.9 per cent
Pass - 40 per cent to 49.9 per cent
Unsuccessful - Below 40 per cent
In order to complete a course successfully you are required to score at least 40 per cent marks in
continuous evaluation (assignments) and at least 40 per cent in TEE. Overall score in a course is
the total of the scores in assignment and TEE. The division with which you pass the MA
(Economics) programme is decided on the basis of combined percentage of marks obtained in
all the courses.
Students can take TEE for first year courses after completion of study of one year for the concerned
courses. For example, students enrolled in July 2008 can take their TEE for first year courses in
June 2009 or thereafter. Similarly, TEE for second year courses can be taken only after completion
of one year of study in the second year. In case a student fails to qualify in a course s/he is
allowed to take that course in any of the subsequent TEEs. Students have to successfully complete
all the courses within 5 years of registration.
7.1 Assignments
Assignments constitute the continuous evaluation. Submission of assignments is compulsory.
The marks that you get in your assignments will be counted in your final result. As assignments
carry 30 per cent weightage in your final score in the course you are advised to take your
assignments seriously. A simple omission on your part may cause loss to you and inconvenience
at all levels in the University.
The main purpose of assignments is to test your comprehension of the learning materials you
receive from us and also to help you get through the courses. The evaluators/ counsellors will
send back the evaluated assignments with their comments. Do not forget to get back your
evaluated TMAs along with a copy of the assessment sheet containing comments of the evaluator
on your performance. The comments will surely guide you in your study and help in
improving your comprehension and performance in the TEE.
The print materials should be sufficient for answering the assignments. At postgraduate level it
is expected that you will consult other prescribed books also. You need not however worry too
much about the non-availability of extra reading materials for working on the assignments. The
assignments are designed in such a way as to help you concentrate mainly on the print materials
and your analytical capabilities.
There is one TMA for each course. You have to submit the completed assignments before the
deadline specified in the booklet of assignments. The assignments should be submitted to the
Coordinator of your Study Centre. You will not be allowed to appear for the TEE for a course if
you do not submit the specified number ofassignments in time for that course. If you appear in
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TEE without submitting the assignments,the result of TEE would be liable to be cancelled.
The University/Coordinator of the Study Centre has the right not to entertain or reject the
assignments submitted after the due date. You are, therefore, advised to submit the assignments
before the due date.
For your own record, retain a copy of all the assignment responses which you submit to the
Coordinator in the Study Centre. Also maintain an account of the evaluated assignment
responses. This will help you to represent your case to the University in case any problem
arises.
If you do not get pass grade (40 per cent) in the assignment of any course, you have to submit a
fresh assignment (meant for the next academic session) for that course. You cannot re-submit
the answers to the old assignment. To get fresh assignments you should contact your Study
Centre/Regional Centre or download the assignments from IGNOU website
www.ignou.ac.in. Once you get the pass grade in an assignment, you cannot re-submit it for
improvement of grade. Assignments are not subject to re-evaluation except for factual errors, if
any, committed by the evaluator. The discrepancy noticed by you in the evaluated assignments
should be brought to the notice of the Coordinator of the Study Centre, so that the correct score
is forwarded by him/her to the Student Evaluation Division (SED) at the University
Headquarters. Score communicated by the Study Centre through any mode other than the
award list will not be acceptable to the University for maintenance of student records.
Do not enclose any other request or complaint along with the assignment responses. Send your
requests/complaints separately to concerned Divisions/School.
1) Write your Enrolment Number, Name, Full Address, Signature and Date on the top right
hand corner of the first page of your assignment response sheet.
2) Write the Programme Title, Course Code, Course Title, Assignment Code and Name of
your Study Centre on the left-hand corner of the first page of your response sheet.
Course Code and Assignment Code may be reproduced from the assignment booklet.
The top of the first page of your response sheet should look like this:
Late fee of 1sr May to 10th May 1sr November to Online submission
Rs. 1000/- 10th November
For update and recent notification kindly visit University’s website: www.ignou.ac.in
The examination forms with the requisite late fee shall be submitted by the students from
1st May to 10th May for June TEE and 1st November to 10th November for December TEE
through online mode only. The examination fee should be paid by students through
Debit/Credit Card only. Only one form is to be submitted for all the courses a student plans to
take in a TEE. To avoid discrepancies in filling up examination forms/hardship in appearing
in the TEE students are advised to:
1. remain in touch with their Study Centre/ Regional Centre/ SED for change in schedule of
submission of examination form
2. fill up examination form for next TEE without waiting for the result of the previous TEE
and also filling up for courses, for which result is awaited
3. fill up all the particulars carefully and properly in the examination form to avoid rejection
/delay in processing of the form
4. retain proof of mailing/submission of examination form till Hall Ticket is received
Examination Forms received after due dates or without late fee, wherever applicable, shall be
rejected.
Issue of Examination Hall Ticket
The University issues Hall Ticket to the students at least two weeks before the commencement
of the TEE. Hall Ticket can also be downloaded from the University’s website:
www.ignou.ac.in. In case a student fails to receive Examination Hall Ticket one week before
the commencement of examination s/he can download it from the website and approach the
Examination Centre forappearing in the examination.
Every student must bring his/her identity card for appearing in the TEE along with the Hall
Ticket. Students will be allowed to appear in TEE for those courses only for which registration
is valid and prescribed minimum duration of study is completed.
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Declaration of Result
It is your duty to check whether you are registered for a course and whether you are eligible to
appear for that examination. If you neglect this and take the examination without being eligible
for it, your result will be cancelled.
All efforts are made to declare the results well before the deadline for submission of Examination
Form for the next TEE. In case result for a course is not declared you should fill the Examination
Form for that course without Examination Fee. In case you appear in the course in the TEE, you
have to send demand draft (drawn in favour of IGNOU, New Delhi) of requisite amount to
Registrar, Student Evaluation Division, New Delhi failing which your result of that course will
not be declared.
Re-evaluation is permissible in TEE only and not in practical, project report, workshop,
assignment, seminar, etc. A sample application form with rules and regulations for this purpose
is enclosed in the Programme Guide and also made available at the University’s website
www.ignou.ac.in.
Improvement in Division/Class
Students of Bachelor/Master degree programme who have completed the programme and wish
to improve their Division / Class may do so by appearing in TEE. The eligibility is as under:
a) Students of Bachelor / Master degree programme, who fall short of less than 2% marks to
secure 2nd and 1st division
b) The students of Master degree programmes only who fall short of less than 2%marks to
secure overall 55% marks.
Students may apply in the prescribed form from 1st to 30th April for June TEE and from 1st to 31st
October for December TEE along with fee of Rs. 750/- per course by means of demand draft
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drawn in favour of IGNOU and payable at New Delhi.
Improvement is permissible in TEE only and not in Practicals /Lab courses, Project, Workshop,
Assignment, Seminar, etc.
Students wishing to improve their marks will have to apply within six month from the date of
issue of final statement of marks/grade card to them, subject to the condition that their registration
for the programme/course being applied for improvement, is valid till the next TEE in which
they wish to appear for improvement. Rules and regulations in detail for this purpose are available
on University’s website www.ignou.ac.in.
Study Centre is the contact point for you. The University cannot send all the communication to
all the students individually. All the important communications are sent to the Coordinators of
the Study Centres and Regional Directors. The Coordinators would display a copy of such
important circular/notification on the notice board of the Study Centre for the benefit of all the
Students. You are, therefore, advised to get in touch with your Study Centre for day-to-day
information about assignments, submission of examination forms, TEE date-sheet, declaration
of result, etc. Many of the information are also placed on the IGNOU website. You may visit the
IGNOU website from time to time.
While communicating with the University, please clearly write your enrolment number and
complete address. In the absence of such details, we will not be able to attend to your problems.
Physically Handicapped students admitted to IGNOU are eligible for Government of India
scholarships. They are advised to collect the scholarship forms from the Directorate of Social
Welfare or Office of the Social Welfare Officer of the concerned State Government and submit
the filled-in forms to them through the concerned Regional Director of IGNOU.
Similarly for reimbursement of programme fees SC/ST students have to submit their forms to
the Directorate of the Social Welfare or Office of the Social Welfare Officer of the respective
State Government through the concerned Regional Director of IGNOU.
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Change of optional courses is permitted within 30 days of receipt of course material on payment
of Rs. 1200/- for 6-8 credit courses and Rs. 600/- for 4 credit courses.
Change of Programme (from MEC to MEG/ MHD/ MPS/ MAH/ MPA/ MSO/ MARD/ MCOM
or vice versa) only in the first year of study. The student has to pay the full fee for the new
programme. The fee paid for admission into the earlier programme (MEC) shall be forfeited.
Change of Medium (from English to Hindi or vice versa) is permitted within 30 days of receipt
of first set of course material in the first year on payment of Rs 350/- plus Rs. 600/- for each 2/
4 credit course or Rs. 1200/- for each 6-8 credit course, as the case may be.
For change of course/programme/medium you should send your request in the prescribed form
(given in this programme guide) to the concerned Regional Director along with the demand
draft towards requisite fee. For change of optional course/ medium of instruction you are required
to return the study material already received by you to the Regional Director of your Regional
Centre by registered post or in person. In the case of change of programme since the fee is
forfeited you are not required to return the study material.
You are advised not to write letters to any other official in the University in this regard. Normally,
it takes four to six weeks to effect the change. Therefore, you are advised to make your own
arrangements to redirect the mail to the changed address during this period.
Counselling facilities for a programme may not be available at all the Centres. As such you are
advised to make sure that counselling facilities are available for the programme you have chosen
at the new Study Centre opted for. As far as possible the request for change of Study Centre is
considered favourably. However, the allotment of new Study Centre is subject to availability of
seats for the programme at the new Centre asked for.
Change of Region
When you want a transfer from one Region to another, you have to write to that effect to the
Regional Centre from where you seek a transfer marking copies to the Regional Centre where
you would like to be transferred to and also to Registrar (SRD), New Delhi. Further, you have to
obtain a certificate from the Coordinator of the Study Centre from where you are seeking transfer
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regarding the number of assignments submitted. The Regional Director from where you are
seeking the transfer will transfer all records to the Regional Centre where you seek transfer
under intimation to you and Registrar (SRD). The records are normally sent by Registered Post
to guard against loss in the postal transit.
Issue of Transcripts
The university provides the facility of official transcripts on requests made by the students on
plain paper addressed to Registrar, SED, IGNOU, Maidan Garhi, New Delhi -68. A fee of Rs.
200/- per transcript is required to be paid through demand draft in favour of IGNOU payable at
New Delhi. Students are required to pay Rs. 200/- extra in the case of request for sending transcript
outside the country.
Simultaneous Registration
Students who are already enrolled in a programme of one year or longer duration can also
simultaneously register themselves for any certificate programme of 6 months duration. However,
if there is any clash of dates of counselling or examination schedule between two programmes
taken, University will not be in a position to make any adjustment.
Migration Certificate
For Migration Certificate, requisition may be sent to the Regional Director along with the
following documents:
1) Application (can be obtained from the SRD, New Delhi or photocopy of the one given in
the Programme Guide can be used.)
2) Attested copy of the mark sheet.
3) Fee of Rs.500/- in the form of demand draft drawn in favour of IGNOU payable at the city
where Regional Centre is located.
Samples of various forms currently used in the University are provided in this Programme Guide.
Whenever you need any of these (except for the Examination form which is to be procured from
the Study Centre/ Regional Centre) please take a photocopy, fill it and send it to us.
Refund of Fees
Fee once paid will not be refunded under any circumstance. It is also not adjustable against any
other programme of the University. In cases where the University denies admission, however,
programme fee will be refunded through a/c payee cheques only after deduction of registration
fee.
Foreign Students
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Foreign nationals residing in India are eligible to seek admission in IGNOU programmes provided
they have valid student visa for the minimum duration of the programme. Such students are
required to remit the fee at par with foreign students (fee structure for foreign students can be
downloaded from IGNOU website). Admission of foreign students residing in India will be
processed by the International Division of IGNOU after ensuring their antecedents from the
Ministry of External Affairs/ Ministry of Human Resource Development. Programmes with
limited number of seats are not offered for foreign students.
Recognition
IGNOU Degrees/Diplomas/Certificates are recognized by all member universities of the
Association of Indian Universities (AIU) and are at par with Degrees/Diplomas/Certificates of
all Indian Universities/Institutions, as per UGC Circular letter no. F.1-52/2000(CPP-II) dated
May 5, 2004; AIU Circular no. EV/11(449/94/176915-177115) dated January 14, 1994 and
AICTE Circular no. AICTE/Academic/MOU-DEC/2005 dated May 13, 2005.
The information about the suitable forms for specific purpose is also provided in Section 10 of
this Programme Guide. Whenever you need, take a copy of the relevant form (except for the
TEE form, which you have to procure in original) and send as per instructions given in the form.
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18 Students General enquiries and grievances/ sedgrievance@ignou ac.in
Issue of duplicate mark sheet
19 Discrepancy in grade card, non updating of [email protected]
grade/marks in the grade card etc.
Most of the operations of the University are online. Wherever you are required to submit a hard
copy, the University has made available different application forms on its website. Please
download these forms from the Student Zone of the University website and use them diligently.
___________________________________________________________________________
The course equips the students at the postgraduate level to understand systemic facts and
theoretical developments for empirical analysis.
Block 1 : Traditional Approaches to Macroeconomics
Unit 1 : Classical and Keynesian Approaches
Unit 2 : Neoclassical Synthesis
Block 2 : Economic Growth
Unit 3 : The Solow Model
Unit 4 : Endogenous Growth Model
Block 3 : Rational Expectations
Unit 5 : Rational Expectations and Economic Theory
Unit 6 : Policy-Making under Uncertainty
Block 4 : Inter-temporal Decision-Making
Unit 7 : Consumption and Asset Prices
Unit 8 : The Ramsey Model
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Unit 9 : The Overlapping Generations Model
Unit 10 : Money and the Role of Monetary Policy
Block 5 : Economic Fluctuations
Unit 11 : Traditional Theories of Business Cycles
Unit 12 : Real Business Cycles
Block 6 : Unemployment
Unit 13 : Traditional Theories
Unit 14 : Search Theory and Unemployment
Unit 15 : Nominal and Real Rigidities
Unit 16 : New-Keynesian Theories of Unemployment
Block 7 : Open-Economy Macro-Modelling
Unit 17 : Flexible Exchange-Rate System
Unit 18 : Fixed-Exchange Rate System
Unit 19 : Sluggish Price Adjustment
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Unit 11 : Linear Algebra
Unit 12 : Input-Output Analysis
Unit 13 : Linear Programming
Block 5 : Statistical Methods-I
Unit 14 : Descriptive Statistics
Unit 15 : Correlation and Regression Analysis
Unit 16 : Probability Theory
Unit 17 : Probability Distribution
Block 6 : Statistical Methods-II
Unit 18 : Sampling Theory
Unit 19 : Sampling Distributions
Unit 20 : Statistical Inferences
MEC-004: ECONOMICS OF GROWTH AND DEVELOPMENT 6 Credits
The study of economic development has gained importance because of sustained interest of the
developing countries in uplifting their economic conditions by restructuring their economies to
acquire greater diversity, efficiency and equity in consonance with their priorities. While few
success stories can be counted, many have grappled with chronic problems 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, concerns hitherto relegated to background like education, health, sanitation and
infrastructure development, have found a place of pride in explaining the preference to various
economies.
Units incorporated in the course are devoted to theories of growth and development, social and
institutional aspects of development, importance of agriculture, and the rationale and pattern of
industrialization in developing countries. Other important issues in the context of development
such as infrastructure-linkages, role of international trade, importance of domestic macroeconomic
policies, investment criteria, and relevance of planning have been included in the units.
Block 1 : Economic Growth Models - I
Unit 1 : Introduction to Economic Growth
Unit 2 : Harrod-Domar Growth Model
Unit 3 : Neo-classical Growth Models
Block 2 : Economic Growth Models –II
Unit 4 : Growth and Distribution
Unit 5 : Total Factor Productivity and Growth Accounting
Unit 6 : Technological Change and Progress
Block 3 : Economic Growth Model-III
Unit 7 : Models of Optimal Economic Growth
Unit 8 : Multi-Sector Models of Growth
Unit 9 : Endogenous Growth Models
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Unit 10 : Stochastic Growth Models
Block 4 : Social and Institutional Aspects of Development
Unit 11 : Development and Underdevelopment
Unit 12 : Measurement and Indicators of Development
Unit 13 : Population and Development
Unit 14 : Economic Development and Institutions
Unit 15 : Market Incompleteness and Informal Institutions in the Rural Economy
Block 5 : Theories of Development
Unit 16 : Classical Theories of Development
Unit 17 : Schumpeter and Capitalistic Development
Unit 18 : Theories of Underdevelopment
Block 6 : Development Strategies
Unit 19 : Allocation of Resources
Unit 20 : Cost-Benefit Analysis
Unit 21 : Role of Planning
Unit 22 : Trade and Development
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Unit 4 : Theory of Public Goods
Units incorporated in the course are devoted to issues of environmental economics, environmental
and social services and the problem of valuation of these services, and designing of instruments
and institutions for the management of environment. The models of optimal use of natural
resources, macroeconomic issues, sustainable development, environmental resource problems
in India and the economics of health and education constitute the other areas of the course.
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Block 1 : Society, Environment and Economy
Unit 1 : Society, State and Market
Unit 2 : Economy and Environment
Unit 3 : Society and Environment
Block 2 : Economics of Education
Unit 4 : Demand for Educational Services
Unit 5 : Supply of Educational Services
Unit 6 : Determinants of Educational Services
Block 3 : Economics of Health
Unit 7 : Demand for Health Services
Unit 8 : Supply of Health Services
Unit 9 : Determinants of Health Services
Block 4 : Economics of Environment
Unit 10 : Demand for Natural and Environmental Resources
Unit 11 : Supply of Environmental and Ecosystem Services
Unit 12 : Determinants of Environmental Resources
Block 5 : Sustainable Development
Unit 13 : Pillars of Sustainable Development
Unit 14 : Green Accounting and Environmental Cost Benefit Analysis
Unit 15 : Common Property Resources Management
Block 6 : Institutions and Policies
Unit 16 : Education Sector
Unit 17 : Health Sector
Unit 18 : Environmental Sector I
Unit 19 : Environmental Sector II
Broadly there are two types of Research Methods : Mono methods, and Mixed Methods. Within
Mono Methods again there are two methods – Quantitative methods, and Qualitative methods.
The combination of at least one qualitative and at least one quantitative component in a single
research study/project on Programme is known as mixed methods research. With a view to
30
provide the balanced treatment to Quantitative and Qualitative Research, efforts have been made
to include both the approaches. It is expected that the knowledge of quantitative and qualitative
methods will better equip the students to carry out the research studies in more realistic manner.
Block 1 : Research Methodology: Issues and Perspectives
Unit 1 : Research Methodology: Conceptual Foundations
Unit 2 : Approaches to Scientific Knowledge: Positivism and Post Positivism
Unit 3 : Models of Scientific Explanation
Unit 4 : Debates on Models of Explanation in Economics
Unit 5 : Foundations of Qualitative Research: Interpretitivism and Critical Theory Paradigm
Block 2 : Research Design and Measurement
Unit 6 : Research Design and Mix Methods Research
Unit 7 : Data Collection & Sampling Design
Unit 8 : Measurement and Scaling Techniques
Block 3 : Quantitative Methods-I
Unit 9 : Two Variable Regression Models
Unit 10 : Multiple Regression Models
Unit 11 : Measures of Inequality
Unit 12 : Construction of composite index number in social sciences
Block 4 : Quantitative Methods-II
Unit 13 : Multivariate Analysis: Factor Analysis
Unit 14 : Canonical Correlation Analysis
Unit 15 : Cluster Analysis
Unit 16 : Correspondence Analysis
Unit 17 : Structural Equation Modelling (SEM)
B. Optional Courses
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MECP-101: PROJECT WORK 6 Credits
In the MA (Economics) programme the student can opt for MECP-101: Project Work. The
evaluation of which is based of submission of a Project Report and viva voce examination on
the project report submitted. There is no assignment for MECP-101.
The student is expected to conduct an in-depth study on a topic and reveal his/her analytical and
presentation skills. Therefore, the topic for project report should be precise. Project Report
should be of about 15,000-20,000 words (about 50-60 pages), typed double space. A Project
Guide is dispatched to students along with study material to help him/her in preparing the Project
Report.
You can have a supervisor from the Academic Counsellors of MEC courses at the Study Centre
or a faculty of a Research Institute involved in research activities for preparation of the
Project Report. The student is expected to develop a Project Proposal in consultation with the
supervisorapproved by the faculty at the Headquarters. The Project Proposal duly endorsed by the
supervisor is submitted to the Course Coordinator, MECP-101 course, School of Social
Sciences, IGNOU, New Delhi for approval. Project Report submitted without a supervisor or
without the approval of the proposal by the Faculty of Economics at IGNOU Headquarters
will not be accepted forevaluation by Student Evaluation Division.
Before writing the Project Report, the Project Proposal should be sent for approval to ‘The
Course Coordinator, MECP-101 Course, Block F, School of Social Science, IGNOU Campus,
Maidan Garhi, New Delhi 110 068’. A proforma for submission of Project Proposal is included
in the Project Guide.
When the Project Report is complete, it should be sent to the Registrar Student Evaluation
Division, IGNOU, Maidan Garhi, New Delhi- 110068 for evaluation purposes. Completed
project report should NOT be sent to the Course Coordinator/ Faculty of Economics. The
guidelines on how to prepare a project proposal are provided below.
1) A proposal should be of 4-5 pages. It must contain the following sections: (i) Introduction,
(ii) Objectives, (iii) Data Sources with variables identified and Methodology, (iv) Limitations
and (v) Chapter Scheme.
2) The Topic selected should ideally be based on a brief Literature Review. Literature reviewed
should be cited in Introduction. Citation should be in the ‘author (year)’ format.
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4) Objectives of your study should be so stated that their first word is a ‘functional verb’.
Examples of functional verbs suitable to empirical studies (i.e. studies based on quantitative
or statistical data) are what are stated in 3 above (compute, estimate, test, infer, etc.). Such
studies can be based on secondary data published from different governmental (CSO, NSSO)
and non-governmental agencies (CMIE).
5) You can see for yourself that for empirical studies, it is easy to establish a one-to-one linkage
between the functional verbs used in objectives and their elaboration that you can provide
under the section of ‘methodology’. Proposals with such clear linkage, between objectives
specified and methodology detailed, would get easy approval by the faculty.
6) Proposals need not necessarily be empirical. This means studies proposed can be based on
qualitative data or mere descriptive account. Appropriate functional verbs which can be used
for such studies are: discuss, explain, bring out, identify, illustrate, etc. For instance, you
may undertake to survey ‘efforts made for self-employment venture and their success’. Such
studies need primary survey. For studies based on primary survey, it is important to give (i)
area where survey is proposed to be carried out, (ii) survey unit (e.g., household,
establishment, institution), (iii) sample size and (iv) method of drawing a random sample for
the study (where applicable).
7) The above-mentioned points (explicitly written under the five heads mentioned in 1 above),
would constitute the bare minimum of your Project Proposal. Note that under ‘data sources
and methodology’ you must indicate the periodicity of data (i.e. monthly, quarterly, yearly,
etc.) considered, formulae for computation, test statistic, etc. in as much detail as possible.
Proposals with such details would be approved without any need for revision and
resubmission.
8) While the above is the minimum requirement, note that you have studied in your compulsory
theory papers a lot of other techniques and concepts. For instance, for analyzing the cause
and effect, or for identifying the determinants of an economic phenomenon like growth, you
can fit a regression model with empirical data. You can see that the functional verb
‘examine’ can be used in your objectives for such an analysis. This verb can be suitably
used both in quantitative and qualitative studies. If you are able to include such things, your
proposal rises above the minimum level expected.
9) A more detailed Project Guide is uploaded on eGyankosh in our university’s website. You
can access it by following the Path: eGyankosh – IGNOU Self Study Material (SLM) –
School of Social Sciences (SOSS) – Levels – Masters Degree Programmes –Current –
Master of Arts (Economics) (MEC) – 1st Year/Project Guide.
10) Please note that as mentioned on p-2 of the Project Guide stated above, only two chances are
given to prepare an acceptable proposal for your MECP 101 course. So please prepare
carefully failing which you would lose your chance for doing a Project Report under MECP
33
101. You would have to then complete your programme by taking up some other optional
course for your elective in place of MECP 101.
34
The course develops the basic actuarial techniques that are used for insurance purposes. It covers
the techniques drawn from statistics, financial mathematics along with the insights of economic
theory to equip the learners with the insurance processes. The course requires a good understanding
of quantitative methods on the part of the learner. The present course, MECE 103, is a revised
version of its earlier version viz. MECE 003 and is being offered to the students from July
2022.
Block 1 : Introduction to Insurance Theory
Unit1 : Interface Between Economics and Insurance
Unit 9 : Annuities
Block 4 : Actuarial Survival Models I
Unit 10 : Age-at-Death Random Variables
Unit 11 : Parametric Survival Models
Unit 12 : Time-Until-Death Random Variable
Block 5 : Actuarial Survival Models I
Unit 13 : Life Table Format
Unit 14 : Contingent Payment Models
Unit 15 : Benefit Premium and Benefit Reserves
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Unit 14 : Migration, Inequality and Social Change
Unit 15 : Migration and Vulnerabilities to Trafficking
Unit 16 : Migration and Development
Block 5 : Legislation, Social Protection and Policy
Unit 17 : Frameworks and Approaches
Unit 18 : Important Legislation and Landmark Judgments
Unit 19 : Welfare and Social Security Measures
Unit 20 : Women in Planning and Social Policy
Block 6 : Women and Globalization
Unit 21 : Globalization and Economic Change
Unit 22 : New International Division of Labour
Unit 23 : Questions of Feminization and Marginalisation
Unit 14 : Industry
Unit 15 : Infrastructure
Unit 16 : Service
38
Block 5 : Sectoral Issues in Development-II
Unit 21 : Education
Unit 22 : Health
Unit 23 : Gender
39
Please Note: For Regional Centers & Study
Centers please visit IGNOU's
website www.ignou.ac.in
40
10. SOME FORMS FOR YOUR USE
We are enclosing sample copies of certain forms which you will find to be useful. Whenever you
have to correspond with the University, please get a photocopy of the relevant form, fill it carefully,
and send as per instructions therein. The detailed instructions for all these forms are provided in
this programme guide in different sections. The following forms are enclosed:
1. Assignment remittance-cum-acknowledgement form
2. Change of medium of study/optional courses
3. Application for credit transfer
4. Intimation of non-receipt of study material
5. Form for duplicate Grade Card/Mark sheet
6. Form for Provisional Certificate
7. Form for Issue of Migration Certificate
8. Form for Early declaration result
9. Form for Re-Evaluation of Answer Script
10. Form for Improvement in division/class
11. Issuance of Official Transcripts
12. Obtaining photocopy of answer scripts
41
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
ASSIGNMENTS REMITTANCE-CUM-ACKNOWLEDGEMENT FORM
Course Code :
English/Hindi
S.No. Assignment No.
FOR OFFICE USE ONLY
Sr. No. :
Signature of the receiverDate :
Signature of the
Student Seal
Date :
Notes : 1. Submit this form to the coordinator of your study centre alongwith the assignment.
2. When you submit the assignment by post, enclose a self-addressed stamped envelop along with this.
Name :
Course Code :
Medium :
Date of Receipt :
Name of Evaluator :
42
To Change of Medium: Rs. 350/- + Rs. 600/- for 4 credit
and Rs. 1200/- for 8 credit per course
The Regional Director
Change of Courses: Rs. 600/- for 4 credit per course
Rs. 1200/- for more than 4 credit per course.
This is permitted within 30 days from receipt of first set
of course material
Enrolment No.:
Fee Details: Demand draft is to be made in the name of IGNOU payable at the city of your Regional
Centre.
Signature:
Name
Address:
45
To
The Registrar,
MPDD, IGNOU
Maidan Garhi, New Delhi
Enrolment No.
I have remitted all the dues towards the course fee and there is No change is my address given as follows :
........................................
........................................
Control No.................................
Name ................................................................................................
Enrolment No.
Address ............................................................................
............................................................................
............................................................................
............................................................................
Pin
Programme .................................................................................................................................................
Month and Year of the Exam. ....................................................................................................................
Centre from where appeared at
last examination .........................................................................................................................................
Bank Draft / IPO No. ............................................................... Dated .......................................................
for Rs. 200/- in favour of IGNOU, New Delhi ..........................................................................................
Signature
Dated ........................................................................
Note : Fee for duplicate grade card Rs.200/-. The duplicate grade card/mark sheet will be sent by
Registered post.
The filled in form with the requisite fee is to be sent to :
The Registrar (Student Evaluation Division)
Indira Gandhi National Open University
Maidan Garhi,
New Delhi-110 068
47
Enrolment No.
Name ..................................................................................................
..................................................................................................
..................................................................................................
..................................................................................................
48
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
(To be submitted at the concerned Regional Centre)
1. Name :....................................................................................................................................
2. Father’s/Husband’s Name :...........................................................................................................
3. Address ........................................................................................................................................
.......................................................................................................................Pin ..........................
4. Particulars of last examination ......................................................................................................
Examination Passed Year of Passing Enrolment No. Marks Obtained Grades Obtained
(Programme)
5. Name of the Regional Centre and Study Centre in which the Candidate is attached
.....................................................................................................................................................
6. Name of the University to which the Candidate wants to migrate
.....................................................................................................................................................
Draft Details
Amount Rs. D.D. No. _ Date
Bank Name _ Place of Issue _
I hereby declare that the information provided is correct to the best of my knowledge and I have paid all
fee due to the University. In the event of any of the above information being found incorrect, the
Certificate shall be liable to cancellation by the University.
Received the Migration Certificate No. _ dated
49
INSTRUCTIONS
1. A fee of Rs. 500/- should be remitted by way of a Demand Draft drawn in favour of IGNOU and
payable at concerned Regional Centre/City.
2. At the time of submission of the application for issue of Migration Certificate the student should
attach xerox copy of consolidated Statement of Marks of Provisional Certificate issued by this
University (duly attested) for verification.
3. Duplicate Migration Certificate can be issued on payment of Rs. 500/- only in case it has been lost,
destroyed or mutilated on submission of an Affidavit drawn up on a non-judicial stamp paper of
the value of Rs. 10/- to be sworn before a Magistrate on the following format.
_ University has been lost and I did not join any other University on the basis of the
same nor have I submitted the same for joining any other University. In case the lost Migration Certificate
is found, I shall deposit the same to the University”.
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INDIRA GANDHI NATIONAL OPEN UNIVERSITY
STUDENT EVALUATION DIVISION
7. Fee detail:
(The fee for early declaration of result is Rs. 1000/- per course, which is to be paid through demand draft
drawn in favour of ‘IGNOU’ & payable at the City of Evaluation Centre)
51
P.T.O.
RULES & REGULATIONS FOR EARLY DECLARATION OF RESULTS
1. Request for early declaration of results will be entertained for final semester/year or maximum of 4 backlog
courses only, subject to the following conditions:-
i) The student has been selected for higher study/employment and statement of marks/grade card is required
to be produced to the institute by a particular date, which is before the prescribed dates of declaration of
the University’s results.
ii) The student has completed all the other prescribed components except the term-end examination of the
courses, for which early evaluation has been sought.
2. Application for early declaration, for the reasons such as to apply for recruitment/higher study/post and
promotion purpose etc. will not be entertained.
3. Application without enclosing documentary evidence specifying the reason for early declaration will not be
entertained.
4. Application form must reach at the following address before the date of the examination for the course (s) for
which early evaluation is sought:-
52
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
MAIDAN GARHI, NEW DELHI-110068
Programme : ................................................................................................................................................
Enrolment No.
Address:......................................................................................................................................................
........................................................................................................................................................
........................................................................................................................................................
PIN :
54
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
STUDENT EVALUATION DIVISION
(Rules & regulations are mentioned on the reverse side of this form. Please go through them carefully before
filling up the form).
Prescribed dates for submission of form: 1st to 30th April for June Term-end Exam.
1st to 31st October for December Term- end Exam.
1. Name: .......................................................................................................................................................
3. Address: ...................................................................................................................................................
..................................................................................................................................................................
...................................................................................... Pin
55
RULES & REGULATION FOR IMPROVEMENT IN DIVISION/CLASS
1. The improvement of marks/grades is applicable only for the Bachelor’s/Master’s Degree Programmes, who
have completed the programme. The eligibility is as under:-
a) The students of Bachelor’s/Master’s Degree Programmes who fall short of 2% marks to secure 2 nd and
1st division.
b) The students of Master’s Degree Programmes only, who fall short of 2% marks to secure overall 55%
marks.
4. Under the Provision of improvement, a maximum of 25% of the maximum credits required for successful
completion of a programme shall be permitted.
5. Students wishing to improve the marks will have to apply within six months from the date of issue of final
statement of marks/grade card to them, subject to the condition that their registration for the programme/
course being applied for improvement, is valid till the next term-end examination in which they wish to
appear for improvement.
6. No student will be permitted to improve if maximum duration to complete the programme, including the re-
admission period, has expired.
7. After appearing in the examination for improvement, better of the two examinations, i.e. marks/grade already
awarded and the marks/grade secured in the improvement examination will be considered.
8. In case of improvement, the month and year of completion of the programme will be changed to the Term-end
examination, in which students appeared for improvement.
9. Students will be permitted for improvement of marks/grades provided the examination for the particular
course, in which they wish to improve, is being conducted by the University at that time.
10. On the top of the envelope containing the prescribed application form, please mention “APPLICATION
FORM FOR IMPROVEMENT IN DIVISION/CLASS.
11. Application form must reach within the prescribed dates at the following address:-
The Registrar,
Student Evaluation Division,
Indira Gandhi National Open University,
Maidan Garhi,
New Delhi-110068
56
Information for Statistical Purpose, Students are required to fill-up thisAnnexure
Compulsorily
2. Enrolment No.
3. Programme Code:
General SC ST OBC
Rs. Rs.
57
IGNOU POLICY FOR PREVENTION, PROHIBITION AND PUNISHMENT
OF SEXUAL HARASSMENT OF WOMEN AT THE WORPLACE
IGNOU has adopted a policy for the prevention, prohibition and punishment of sexual harassment of women at
workplace in compliance to the directive of Hon'ble Supreme Court of India.
Information on this policy, rules and procedures can be accessed from the IGNOU website www.ignou.ac.in. Any
incident of sexual harassment may be reported to the Regional Director of the Regional Centre, you are attached
to or to any of the persons whose contact details are given in the following table.
I. IGNOU REGIONAL SERVICES DIVISION COMMITTEE AGAINST SEXUAL
HARASSMENT (RSDCASH)
1 Dr. Bini Toms, RSD, Chairperson RSDCASH 29572407/2505 [email protected]
2 Dr. G. Mythili, Dy. Director, STRIDE 29572604 [email protected]
3 Ms. Azra Arshad, Maintenance, Engineer EMPC 29573261 [email protected]
29532164
4 Ms. Neeru Sayal, EA, RSD 29572417 [email protected]
5 Dr. Radhika Menon, Asst. Professor,
Mata Sundari College (Delhi University)
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__________________________________________________________________________________________________
11.FREQUENTLY ASKED QUESTION (FAQS)
__________________________________________________________________________________
Is there any specific advantage in completing my programme within the minimum period
allowed?
It will give you a sense of achievement to complete the programmes in the minimum period. Further,
for Gold Medal in a programme only those students who qualify in the minimum period are
considered. It is therefore advisable to complete your programme in the minimum period unless you
have serious reasons inhibiting you from doing so.
Can I complete the programme in more than the minimum period of two years?
Yes. If your schedule is such that you need more time to complete your programme, the system
permits it. For your M. A. (Economics) (MEC) programme, it is 5 years. This is 4 years plus one
year which is the extended year.
I have successfully registered some days back but have not yet heard anything from any division
in IGNOU. When will I receive my Course Material?
It usually takes up to 8 weeks for MPDD, IGNOU to dispatch and for you to receive course material.
Meanwhile, you can visit eGyankosh on our website (www.ignou.ac.in). Following the path:
eGyankosh – IGNOU Self Study Material (SLM) – School of Social Sciences (SOSS) – Levels –
Masters Degree Programmes –Current – Master of Arts (Economics) (MEC) – 1 st Year/Programme
Guide you can download the Programme Guide and also course material. Begin your studies with the
Programme Guide. You can then start off with the soft material of any one course of your liking.
You will soon be receiving your material by post.
60
There are multiple ways in which you can benefit by attending counselling sessions. You can clear
your doubts by asking the counsellor. You can interact and discuss with your classmates and take
advantage of peer learning. In some cases, students are able to build their network through these
sessions.
ASSIGNMENTS
What are ‘assignments’?
Assignments are an important pre-requisite for you to appear in the TEE. For appearing in TEE,
submission of assignments is a must.
If I miss a TEE for some reason, are the marks awarded for my assignments valid for future
exams?
Yes, assignment marks are valid for future TEEs.
If I did not submit assignment and want to appear in TEE next year then which assignment
should I submit next year?
If you have not submitted assignment, then attempt and submit the assignment of next year. You will
find that assignment on the university website. For example, you did not submit assignment in 2021
and did not appear for TEE in 2021. Then you wish to appear for TEE in 2022. You need to submit
assignments for the year 2022 and not 2021.
CREDIT TRANSFER
How can I apply for re-evaluation? Is there any fee to be paid for the same?
Yes, you can apply for re-evaluation. In your Programme Guide, you can see a form prescribed for
applying for this.
Do I have to prepare and appear in all the courses of a particular year of a programme?
You can choose to appear in as many papers or courses as is convenient to you.
62
There is a form prescribed. You can find the details in the Common Prospectus which you can
download from our website.
I need transcripts to apply for further education in a foreign university. What is the procedure?
Please check the university website. You need to fill a form and provide a demand draft as per the
procedure provided on the website.
Do I need to attach the CV of my project supervisor, along with the project proposal?
Yes, you need to send the CV of your supervisor along with the proposal. The supervisor will be
approved based on that CV.
ELECTIVES
63
Do I need to choose MGSE 009 and MWG 011 together? Why?
Yes. This is because you have to complete 12 credits from your two electives. MGSE 009 is of 4
credits and MWG 011 is of 8 credits. Hence, by selecting these two courses you will complete the
required 12 credits. You can also select MEDSE 046 instead of MWG 011.
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