Economics Syllabus/ CCF/ CU

University of Calcutta
Economics Syllabus (1st Sem –6th Sem)
Major –Minor –MDC

Sem1
Paper Course Name of the Paper Credit Pg. no.
DSCC1 ECOM Microeconomics (I) 3+1 3
SEC1 ECOM Introductory Statistics & Application (I) 3+1 6
MN1 MECO Microeconomics (I) 3+1 3
CC1/CC2 MECO-MDC-CC Microeconomics (I) 3+1 3
SEC1 MECO-SEC Economic Data Analysis and Report Writing 3+1 8
SEC1 MECO-SEC Entrepreneurship and Development 3+1 10
IDC1 ECOD Elementary Economics 2+1 12

Sem2
Paper Course Name of the Paper Credit Pg. no.
DSCC2 ECOM Macroeconomics (I) 3+1 15
SEC2 ECOM Introductory Statistics & Application (II) 1+3 17
MN2 MECO Macroeconomics (I) 3+1 15
CC1/CC2 MECO-MDC-CC Macroeconomics (I) 3+1 15
SEC2 MECO-SEC Economic Data Analysis and Report Writing 3+1 8
SEC2 MECO-SEC Entrepreneurship and Development 3+1 10
IDC2 ECOD Elementary Economics 2+1 12

Sem 3
Paper Course Name of the Paper Credit Pg. no.
DSCC3 ECOM Microeconomics (II) 3+1 19
DSCC4 ECOM Development Economics (I) 3+1 22
SEC3 ECOM Data Analysis and Research Methodology 2+2 24
MN3 MECO Microeconomics (I) 3+1 3
CC1/CC2 MECO-MDC-CC Development Economics (I) 3+1 22
MDC_m 1 MECO-MDC-Minor Microeconomics (I) 3+1 3
SEC3 MECO-SEC Economic Data Analysis and Report Writing 3+1 8
SEC3 MECO-SEC Entrepreneurship and Development 3+1 10
IDC3 ECOD Elementary Economics 2+1 12

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Sem 4
Paper Course Name of the Paper Credit Pg. no.
DSCC5 ECOM Mathematical Economics (I) 3+1 27
DSCC6 ECOM Macroeconomics (II) 3+1 30
DSCC7 ECOM Statistics for Economics 3+1 33
DSCC8 ECOM Indian Economics (I) 3+1 36
MN4 MECO Macroeconomics (I) 3+1 15
CC1/CC2 MECO-MDC-CC Indian Economics (I) 3+1 36
CC1/CC2 MECO-MDC-CC Sustainable Development 3+1 39
MDC_m 2 MECO-MDC-Minor Macroeconomics (I) 3+1 15

Sem 5
Paper Course Name of the Paper Credit Pg. no.
DSCC9 ECOM Microeconomics (III) 3+1 41
DSCC10 ECOM Macroeconomics (III) 3+1 43
DSCC11 ECOM Mathematical Economics (II) 3+1 45
DSCC12 ECOM Econometrics (I) 3+1 47
MN5 MECO Development Economics (I) 3+1 22
CC1/CC2 MECO-MDC-CC Economic History of India (1857-1947) 3+1 49
CC1 MECO-MDC-CC Public Finance 3+1 51
MDC_m 3 MECO-MDC-Minor Development Economics (I) 3+1 22
MDC_m 4 MECO-MDC-Minor Indian Economics (I) 3+1 36

Sem 6
Paper Course Name of the Paper Credit Pg. no.
DSCC13 ECOM International Economics (I) 3+1 53
DSCC14 ECOM Environmental & Resource Economics (I) 3+1 56
DSCC15 ECOM Public Economics (I) 3+1 58
Internship ECOM Summer Internship 3 -
MN6 MECO Indian Economics (I) 3+1 36
CC2 MECO-MDC-CC Public Finance 3+1 51
CC1/CC2 MECO-MDC-CC Rural Development 3+1 60
MDC_m 5 MECO-MDC-Minor Sustainable Development 3+1 39
MDC_m 6 MECO-MDC-Minor Economic History of India (1857-1947) 3+1 49

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 Economics Syllabus/ CCF/ CU

1 Microeconomics (I)
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45

1.1 Exploring the subject matter of Economics

5 lecture hours

Scope and Method of Economics: Wants, Scarcity, Competing Ends and Choice - De…n-
ing Economics, Thinking like an economist: Basic Economics Questions, Households
and …rms, Demand and Supply, Basic concepts of Utility, basic concepts of production-
Production function, De…nition of Average and Marginal Product, Microeconomics and
Macroeconomics, Normative Economics and Positive Economics

Principles of Microeconomics –principles of individual decision making and principles of

economic interactions –trade o¤, opportunity cost, e¢ ciency, marginal changes and cost-
bene…t, trade, market economy, property rights, market failure, externality and market
power.

Interdependence and the Gains from Trade- production possibilities frontier and increasing
costs, absolute and comparative advantage, comparative advantage and gains from trade.

1.2 Utility Theory

20 lecture hours
(Focus on intuitive explanation and diagrams. Learning to analyze without using calculus
is a must.)

Cardinal and Ordinal Approach.

Utility in Cardinal Approach- Utility and choice, Total Utility and Marginal Utility, Utility
and choice-maximization, marginal utility, theory of demand

Ordinal utility: Assumptions on preference ordering, Indi¤erence curve (IC), Marginal rate
of substitution and convexity of IC, Budget constraint, Consumers ‘equilibrium-interior
and corner,

1.3 Demand and Supply: How Markets Work

8 lecture hours

Elementary theory of Demand: Factors in‡uencing household demand and market de-
mand, the demand curve, movement along and shift of the demand curve

Elementary theory of Supply: factors in‡uencing supply, the supply curve, movement
along and shift of the supply curve

The Elementary theory of market price: Determination of equilibrium price in a compet-

itive market.

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1.4 Market and Adjustments

4 lecture hours

The Evolution of Market Economies, Price System and the Invisible Hand

The Decision-takers - households, …rms and central authorities

The Concepts of Markets- individual market, separation of individual markets, interlink-

ing of individual markets. Di¤erence among markets- competitiveness, goods and factor
markets, free and controlled markets. Market and non-market sectors, public and private
sectors, economies- free market, command and mixed.

Di¤erent goods: Public goods, Private goods, Common resources and Natural Monopolies.

1.5 Market Sensitivity and Elasticity

8 lecture hours

Importance of Elasticity in Choice-Decisions

Method of Calculation- Arc Elasticity, Point Elasticity-de…nition

Demand and supply Elasticities-types of elasticity and factors a¤ecting elasticity, Demand
Elasticity and Revenue, Long run and Short run elasticities of Demand and Supply

Income and Cross Price Elasticity

Applications: Case studies –OPEC and Oil Price

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Texts/ References:

1. G.Mankiw. 2007, Economics: Principles and Applications, India edition by South West-
ern, Cengage Learning

2. R.G. Lipsey. An Introduction to Positive Economics, ELBS (6th edition)

3. Lipsey, R. and Chrystal, A. 2007 Economics, OUP

4. Pindyck, Rubinfeld and Mehta, Microeconomics, Pearson

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5. G.S.Maddala and E. Miller, 1989, Microeconomics, Prentice Hall, McGraw Hill Interna-
tional Editions

6. Karl e Case and Ray C Fair, Principles of Economics, Pearson Education, 8th Edition,
2007

7. P Samuelson and W.Nordhaus, Economics, McGraw hill International Edition (14th edi-
tion or later edition)

8. J.E.Stiglitz and C.E.Walsh, Principles of Economics, WW Norton and Company, NY,

(3rd edition or later edition)

9. Hal. R Varian , Intermediate Microeconomics, A modern Approach, WW Norton and

Company, 8th edition, 2010 (T)

10. Gravelle, H. and Rees,R. , Microeconomics, Prentice Hall

11. Ryan, W.J.L. and Pearce : Price Theory and Applications , Macmillan Education, UK

12. Ferguson, C.E. and Gould, J.P. : Microeconomic Theory, Aitbs Publishers and Distribu-
tors, New Delhi.

13. Satya Chakrabarty, Microeconomics, Allied Publishers

14. Gould, J.P and E.P. Lazear: Microeconomics Theory, McGraw-Hill

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2 Introductory Statistics and Applications (I)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45

2.1 Introduction and Overview

Lecture hours 10

Subject matter of Statistics

Basic Steps in Statistical Methods –Collection, Presentation and Analysis of Data

– Collection of Data –Primary and Secondary sources –their comparison, methods of

Collection of data
– Concepts –Variable and Attribute (categorical variable) –Discrete, Continuous and
Categorical Variables, Complete Enumeration Survey and Sample Survey, Population
and Sample
– Presentation of data –Textual, Tabular, Diagrammatic
– Frequency Distribution –Construction of Ogives, Column diagram, Frequency Poly-
gon, Histogram, Frequency Curve
– Analysis of Data –Univariate and Bivariate Analysis (Concepts only)

[References: Gun, A. M., M.K. Gupta and B. Dasgupta (GGDG) (2022), Fundamentals
of Statistics, Volume One, World Press Private Limited Kolkata – Chapter on ‘Collection and
Presentation of Data’; Chapter on ‘Frequency Distributions’]

2.2 Descriptive Statistics

Lecture hours 35

Central Tendency Lecture hours 10

– Measures of central tendency for ungrouped and grouped data – arithmetic mean,
geometric mean, harmonic mean, median and mode–Composite measures; Compari-
son of di¤erent measures, Quartiles, Deciles and Percentiles
– Index numbers –Price Index Numbers –problems of construction, methods of con-
struction – aggregative (simple and weighted) and averaging price-relatives (simple
and weighted), Laspayre’s, Paasche’s index numbers, Fisher’s Index Number, Quan-
tity Index Numbers, Tests of Index Numbers, Fixed Base and Chain Base, Wholesale
price index and cost of living index, Uses of index numbers

Dispersion Lecture hours 10

– Absolute measures of dispersion for ungrouped and grouped data – range, quartile
deviation, mean deviation, standard deviation –Composite SD; Comparison of dif-
ferent measures
– Relative measures - coe¢ cient of variation, coe¢ cient of mean deviation, coe¢ cient
of quartile deviation
– Distribution of income and wealth –Lorenz curve, Gini Coe¢ cient, Theil’s Index

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Skewness and Kurtosis Lecture hours 5

– Moments –central and non-central –computation, conversion

– Measures of skewness –Bowley’s measure, coe¢ cient of quartile deviation, measure
based on moments
– Measure of kurtosis –measure based on moments

Bivariate Analysis Lecture hours10

– Bivariate data –scatter diagram, Simple correlation coe¢ cient –computation, limi-
tations, and properties
– Simple linear regression –Least squares technique –Properties

[Ref: GGDG ,Volume One –Chapter on ‘Measures of Central Tendency’, Chapter on ‘Mea-
sures of Dispersion’, Chapter on ‘Moments and Measures of Skewness & Kurtosis’, Chapter on
‘Bivariate Frequency Distributions’, Volume Two – Chapter on ‘Index Numbers’; Sen, A. On
Economic Inequality –Chapter on ‘Measures of Inequality’, OUP 1973]
Additional References

1. Freund, John E., Mathematical Statistics, Prentice Hall,1992.

2. Mood, A. M., F. A. Graybill and D. C. Boes, Introduction to the Theory of Statistics,

McGraw Hill, 1974.

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

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3 Economic Data Analysis and Report Writing (EDARW)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45

3.1 Tabular and Graphical representation of Statistical Data

10 lecture hours

Tabular representation of data for analysis

Graphical representation of data-use of line diagram, bar chart, divided bar chart, pie
chart

etc.

Frequency distribution table: uses and implications

Pictorial descriptions of frequency table: frequency polygon, histogram, ogive etc.

3.2 Basic Descriptive Statistics and its role in Data Analysis

25 lecture hours

Measures of Central Tendency

– Concept of arithmetic mean, geometric mean and harmonic mean-their uses (explicit
mathematical proof of the properties of di¤erent types mean are not required).
– The concept of median and mode-their uses in analyzing economic data.
– Comparison of mean, median and mode as measures of central tendency

Measures of dispersion:

– Range, mean deviation, standard deviation and quartile deviation.

– Properties of various measures and their implications (explicit proof of properties is
not required).
– Comparison of various measures of dispersion.
– Signi…cance of the concept of coe¢ cient of variation.
– Use of range, standard deviation and coe¢ cient of variation in measuring income
inequality.
– Basic concept of Gini coe¢ cient and Lorenz curve.

Introductory ideas of correlation and regression analysis.

3.3 Elements of Report writing

10 lecture hours

Locating the basic issues- theme based literature survey and motivation behind any study-
objectives of the study-development of writing skills

Methodological issues: Use of tables and graphs. Use of various measures of central
tendency and dispersion in analyzing the results.

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Insertion of footnotes or end notes.

Preparation of Bibliography

References

1. Goon, A. M, Gupta, M. K, and Dasgupta, B. Fundamentals of Statistics (Volume One),

The World Press Private Ltd.

2. A.L. Nagar and R.K. Das : Basic Statistics, 2nd edition, Oxford University Press.

3. C.R. Kothari: Research Methodology: Methods and Techniques (second revised edition),
New Age India (P) Ltd Publishers.

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Project/ Term Paper/ Essay writing on any topic from the syllabus in consultation with
the concerned teachers.

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

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4 Entrepreneurship and Development (ED)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45

4.1 Basic issues of Entrepreneurship and Economic Development

15 lecture hours

Basic features of Entrepreneurship

Entrepreneurship and its linkages with economic development

Growth of entrepreneurship in India— Role of Entrepreneurship in Economic Development.

Planning Commission‘s guidelines for formulating a project report by an entrepreneur

Problem of Rural entrepreneurship in India

4.2 Financial resources for new ventures of an entrepreneur

10 lecture hours

Sources of …nance— capital structure.

Institutional support to enterprises— national small industries board – state small in-
dustries development corporation— district industries center— industrial estates-Indian
experience

4.3 Growth strategies in small business

10 lecture hours

Stages of growth,

Types of growth strategies-Expansion, Diversi…cation, Joint Venture, Merger and Sub-

contracting

4.4 Sickness in Small Business

10 lecture hours

Concept of industrial sickness

Symptoms of sickness in small business

Causes and consequences of sickness in small business

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Project/ Term Paper/ Essay writing on any topic from the syllabus in consultation with
the concerned teachers.

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

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Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

References

1. S.S Khanka— Entrepreneurial Development, S.Chand & Company Ltd

2. Rajeev Roy— Entrepreneurship, 3E , Oxford University Press

3. Bill Bolton and John Thompson — - Entrepreneurs: Talent, Temperament and Technique,
Butterworth and Heinemann.

4. David .H Holt— Entrepreneurship New Venture Creation

5. Poornima M. Charantimath: Entrepreneurship Development and Small Business Enter-

prises (2nd Edition) Pearson.

6. Misra D. and Puri K. Indian Economy, Himalaya Publishing House

7. Datt and Sundharam (Revised by G.Datt and A. Mahajan) , Indian Economy, 70th edi-
tion, S. Chand

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5 Elementary Economics
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45

5.1 Elementary Microeconomic Concepts:

10 Lecture Hours

Theory of Demand and Supply–Determinants, Law of demand and supply, Demand and
supply curves

Elasticity of Demand and Supply–Concepts of Price and income elasticity and implications

Theory of Production and Cost— Production function–Concepts of TP, AP, MP, short
run-long run and di¤erent cost curves-social and external costs

Market–Di¤erent forms-TR, AR and MR– Pricing and Output Decisions under Perfect
competition and monopoly–features and equilibrium ( diagrammatic representation only)

5.2 Elementary Macroeconomic Concepts:

10 Lecture Hours

National Income Accounting –Circular ‡ow–concepts of GNP, GDP, NNP, NDP, National
Income

Money and Banking–Di¤erent measures of money supply, Di¤erence between central and
commercial bank and their functions

In‡ation –De…nition, types and anti-in‡ationary policy

Fiscal Policy & Monetary Policy -Objectives and Instruments

International Trade and contemporary issues–Balance of Payments (BOP)–Concepts au-

tonomous and accommodating transactions, Functions of IMF, World Bank, WTO Ex-
change Rates— PPP (Concepts only)

5.3 Elementary Economic Development Concepts:

5 Lecture Hours

Growth vs. Development

Development Indicators - Human Development Index (HDI), Gender (GDI), Poverty

(MPI), Inequality (GINI) Indices— India’s rank

Sustainable development–concepts and Goals

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5.4 Elementary Concepts of Indian Economics:

5 Lecture Hours

Economic Reforms in India— Background, Basic steps of trade, industry and …nancial
sector reforms

NITI AYOG-Structure and objectives

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Project/ Term Paper/ Essay writing on any topic from the syllabus in consultation with
the concerned teachers.

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

References:
Unit-1

1. G.Mankiw. 2007, Economics: Principles and Applications, India edition by South West-
ern, Cengage Learning

2. R.G. Lipsey. An Introduction to Positive Economics, ELBS (6th edition)

3. Pindyck, Rubinfeld and Mehta, Microeconomics, Pearson

4. G.S.Maddala and E. Miller, 1989, Microeconomics, Prentice Hall, McGraw Hill Interna-
tional Editions

5. Ferguson, C.E. and Gould, J.P. : Microeconomic Theory, Aitbs Publishers and Distribu-
tors, New Delhi.

Unit-2

1. Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.

2. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 2010.

3. Branson,William, Macroeconomic Theory and Policy, East West Press

4. Salvatore, D, Internaional Economics, John Wiley and sons

5. Sikdar Soumyen, Principles of Macroeconomics, Oxford University Press.

6. https://www.imf.org/en/Home

7. https://www.worldbank.org/en/home

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8. https://www.wto.org/

Unit-3

1. Thirlwall, A.P, Growth and Development, Fourth Edition, ELBS

2. Todaro, M.P, Economic Development, Sixth Edition, AWL

Unit-4

1. Puri, V.K & Mishra, S.K, Indian Economy, Himalaya Publishing House

2. Dutt & Sundharam, Indian Economy, S. Chand

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6 Macroeconomics (I)
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45

6.1 National Income Accounting

Lecture hours 12

Macroeconomic data- Basic concepts of National Income accounting. The circular ‡ow
(three sector).

Concepts of GNP, GDP, NNP, and NDP at market price and at factor cost- Real and
Nominal, -Implicit de‡ator.

The measurement of National Income. The problem of double counting.

The role of Government. Concepts of Corporate Income, Corporate Savings, Personal

Income, Personal Disposable Income and Personal Savings.

Saving-Investment gap and its relation with budget de…cit and trade surplus. National
Income accounting and cost of living.

6.2 Income Determination in the Short Run (Part-I):

Lecture hours 12
The Simple Keynesian Model in a Closed Economy

Consumption Function; the Keynesian Saving Function; stability of equilibrium; the con-
cept of e¤ective demand- the concept of demand-determined output

Equilibrium Income determination in SKM; the Simple Keynesian Multiplier ; the paradox
of thrift; the SKM in a Closed Economy with Government; Government expenditure and
Tax

Balanced Budget Multiplier

6.3 Basic theory of Investment

Lecture hours 3

Investment function: Determinants of investment. -Concepts of Marginal productivity of

capital

Marginal e¢ ciency of capital (MEC) and Marginal e¢ ciency of investment (MEI).

6.4 The Classical system

Lecture hours 12

Basic ideas of Classical Macroeconomics; Say ‘s Law and Quantity Theory of Money

Loanable fund theory

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The Classical Theory of Income and Employment determination

Full Employment and wage-price ‡exibility; Neutrality of Money

Classical Dichotomy (Basic Concept).

6.5 In‡ation
Lecture hours 6

Concepts and types - In‡ationary Gap, Demand pull vs. Cost push in‡ation,

Anti-in‡ationary policy

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Text/ References:

1. Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.

2. N. Gregory Mankiw. Principles of Macroeconomics, Indian Imprint of South Western by

Cengage India, 6th edition, 2015.

3. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 2010.

4. Ghosh Chandana and Ghosh Ambar, Macroeconomics, PHI Learning Pvt Ltd, 2014.

5. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005.

6. Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Education, Inc., 7th
edition, 2011.

7. Venieris, Y.P. and Sebold F.D., Macroeconomics: Models and Policy, John Wiley and
Sons, 1977.

8. Ackley Gardner (old), Macroeconomic Theory, Macmillan, 1961

9. Ackley Gardner(new), Macroeconomics : Theory and Policy : Macmillan

10. J.R.Hicks. The Social Framework: An introduction to Economics, Clarendon Press, 3rd
Edition, 1960

11. Sikdar Soumyen, Principles of Macroeconomics, Oxford University Press

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7 Introductory Statistics and Applications (II)

Theory
Marks: 25, Credit: 1
No. of Lecture hours (Th): 15
[For Semester-II]

7.1 Basic ideas of economic data

15 lecture hours

Types of data-cross section, time series, pooled data, panel data etc.

Nature of …eld survey data –types of cross section data

Advantages and disadvantages of …eld survey data

Importance of …eld survey data for economic analysis

Role of pilot survey

Practicalal
Marks: 75, Credit: 3
No. of Lecture hours (Pr): 45
[For Semester-II]

Practical: – Computer Laboratory based Worksheet Program (50 marks) & Viva (25
marks)

Applications of use of Microsoft Excel software will be demonstrated in the computer

laboratory in practical classes and the practical examination will be conducted in the
usual manner as mentioned in CSR.

To be more speci…c, the practical examination of the project is to be conducted jointly by

the supervisor and an external examiner on the basis of the use of the Worksheet Program
software in the computer laboratory (by determining the various measures of descriptive
statistics in front of the examiners just like that of a practical examination) and also on
the basis of a viva-voce based on the candidate’s knowledge in this context.

7.2 Topics under worksheet Program: (Microsoft Excel)

2.1 Concept on Data Frame:
(13 lecture hours)
(Understanding the purpose and bene…ts of using worksheets in data management and
analysis - Familiarizing students with Microsoft Excel, and their user interface)

– Data Entry and Formatting

– Variables & Observations (Inputting data into cells accurately and e¢ ciently - Ap-
plying formatting options to enhance data presentation (e.g., number formatting,
date formatting, cell borders).
– Data Validation and Conditional Formatting (Setting validation rules to ensure data
accuracy and consistency - Applying conditional formatting to highlight speci…c data
patterns or trends.)
– Data Sorting and Filtering (Sorting data in ascending or descending order based on
speci…c criteria - Filtering data to display only relevant information).

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– Basic Formulas and Functions (Understanding the concept of formulas and their role
in performing calculations - Using basic mathematical operators (+, -, *, /) to create
formulas - Utilizing built-in functions (e.g., SUM, AVERAGE, MAX, MIN, AND,
IF, OR, COUNTIF, VLOOKUP, HLOOKUP) to perform common calculations)
– Importing and Exporting Data (Importing data from external sources (e.g., CSV …les,
databases) into worksheets - Exporting spreadsheet data to di¤erent …le formats (e.g.,
CSV, PDF) for sharing or further analysis).
2.2 Frequency Analysis and Data Visualization:
(12 lecture hours)
(Creating charts and graphs to visually represent data - Selecting appropriate chart types
based on data characteristics - Customizing chart elements (e.g., titles, axes, legends) to improve
readability)
– Raw Data to Group Data
– Di¤erent type so Frequency Table
– Di¤erent Types of Tabulation (e.g.: Two Way, Three Way, Pivot Table etc.)
– Di¤erent Types of Frequency Graphs (Bar Chart, Column Charts, Frequency Poly-
gon, Histogram, Pie Diagram)
– Customization of Graphs Frame
2.3 Descriptive Statistics:
(20 lecture hours)
(Applying descriptive statistics functions to analyze data - Calculating measures of central
tendency and dispersion - Bivariate Analysis).
– Calculation of Mean, Median & Mode (Un-Grouped & Grouped Data)
– Dispersion & Inequality Measures (Un-Grouped & Grouped Data)
– Findings the Observations from di¤erent Descriptive Statistical Measures with Graph-
ics (e.g.: Box Plot, Histogram, Lorenz Curve etc.)
– Scatter Diagram - Correlation Coe¢ cient
– Simple Regression (Two Variables) - Estimation of Predicted Value & Regression
Residuals
– Random Number Generation
Suggested Readings: Microsoft Excel
Books:
1. "Mastering Data Analysis with Excel" by Michael Alexander. "Data Analysis Using
Excel" by Michael Middleton; Wiley, 2020
2. "Excel Bible" by John Walkenbach; Wiley, 2019
3. "Excel Charts and Graphs: Master Data Visualization Techniques" by Paul McFedries;
Wiley, 2016
4. "Excel Formulas and Functions for Dummies" by Ken Bluttman; For Dummies, 2015
5. "Microsoft Excel 2016 Step by Step" by Curtis Frye; Microsoft Press, 2015
Weblinks:
1. MS Excel: https://www.w3schools.com/EXCEL/index.php
2. MSExcel: https://support.microsoft.com/en-au/o¢ ce/ excel-video-training-9bc05390-e94c-
46af-a5b3-d7c22f6990bb

Economics Syllabus/ CCF/ CU Page: 18

 Economics Syllabus/ CCF/ CU

8 Microeconomics (II)
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-III]

8.1 Theories of Consumer Behaviour and Applications

14 lecture hours

Derivation of Demand Curves from ICs, composite good convention. Application: Cash
subsidy versus subsidy in kind

Price consumption curve, Income consumption curve and Engel curve. Price e¤ect -
Income and Substitution e¤ect (Hicks and Slutsky), inferior goods and Gi¤en goods,
Marshallian and compensated demand curves

Application of Consumer Behaviour-Labour-leisure trade-o¤- Inter-temporal choice (sav-

ing and borrowing)

Revealed preference - The Idea, From Revealed Preference to Preference, Recovering Pref-
erences, The Weak Axiom of Revealed Preference, How to check WARP, The Strong Axiom
of Revealed Preference, How to Check SARP

Choice under uncertainty – utility function and expected utility, risk aversion and risk
preference

8.2 Production and Costs

13 lecture hours

Technology –general concept of Production Function, production with one and two vari-
able inputs, total average and marginal products, short run and long run, returns to
factor and returns to scale, Isoquants, marginal rate of technical substitution, isocost line
and …rm’s equilibrium–Output maximization and Cost Minimization–Expansion path and
Ridge lines- elasticity of substitution

Types of production functions- Cobb-Douglas, …xed-coe¢ cient and CES functions

Cost structure- implicit cost, explicit cost, accounting cost, sunk cost, economic cost, …xed
cost, variable cost, total, average and marginal cost. Determinants of short run cost, cost
curves, short versus long run cost curves, economies of scale

8.3 The Firm and Perfect Market Structure

10 lecture hours

Organization, Firms and Pro…t Maximization

Relationship among Total Revenue, Average Revenue, Marginal Revenue and Price elas-
ticity of demand

Marginal Revenue, Marginal Cost and Pro…t Maximization

Economics Syllabus/ CCF/ CU Page: 19

 Economics Syllabus/ CCF/ CU

Perfect competition- short run competitive equilibrium of the …rm, short run supply curve
of …rm and industry, Output choice and competitive equilibrium in long run, Economic
rent and pro…t, long-run industry supply- constant, increasing and decreasing cost.

Consumer and Producer surplus, welfare and e¢ ciency of competitive equilibrium. Gov-
ernment intervention and dead weight loss, Application- Minimum prices and price sup-
ports (price ceiling and price ‡oors)

Tax and market adjustment, Elasticity and Tax incidence

8.4 Input Market in Perfect Competition

8 lecture hours

Basic concepts- derived demand, productivity of an input, marginal product of an input,

value of marginal product and marginal revenue product

Marginal productivity theory of distribution

Labor market-supply of labour, competitive labor markets

Land markets and rent–Ricardian Theory and Modern theory

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15
[For Semester-III]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Texts/ References:

1. Pindyck, Rubinfeld and Mehta, Microeconomics, Pearson

2. G.S.Maddala and E. Miller, 1989, Microeconomics, Prentice Hall, McGraw Hill Interna-
tional Editions

3. Hal. R Varian , Intermediate Microeconomics, A modern Approach, WW Norton and

Company, 8th edition, 2010 (T)

4. Gravelle, H. and Rees ,R., Microeconomics, Prentice Hall

5. Ferguson, C. E. and Gould, J.P., Microeconomic Theory, Aitbs Publishers and Distribu-
tors, New Delhi.

6. Lipsey, R. and Chrystal, A., 2007, Economics, OUP

Economics Syllabus/ CCF/ CU Page: 20

 Economics Syllabus/ CCF/ CU

7. R.G. Lipsey. An Introduction to Positive Economics, ELBS (6th edited Cengage Learning)

8. Karl e Case and Ray C Fair, Principles of Economics, Pearson Education, 8th Edition,
2007

9. P Samuelson and W.Nordhaus, Economics, McGraw hill International Edition (14th edi-
tion or later edition)

10. J.E.Stiglitz and C.E.Walsh, Principles of Economics, WW Norton and Company, NY,
(3rd edition or later edition)

11. Ryan, W.J.L. and Pearce : Price Theory and Applications , Macmillan Education, Pub-
lishers and Distributors, New Delhi.

12. Satya Chakrabarty, Microeconomics, Allied Publishers

13. Gould, J.P and E.P. Lazear: Microeconomics Theory, McGraw-Hill

14. Kousoyiannis A, Modern Microeconomics, Macmillan

Economics Syllabus/ CCF/ CU Page: 21

 Economics Syllabus/ CCF/ CU

9 Development Economics (I)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th.): 45

9.1 Introduction to Development Economics

9 Lecture Hours

De…nition and Scope of Development Economics - Historical Perspective of Development

Theories (Brief Idea Only)

Growth Vs. Development - Goals and Indicators of Economic Development – HDI (con-
cepts only)

Income Approach and Capability Approach

International Comparisons - Challenges and Opportunities in Developing Economies

9.2 Poverty, Inequality, And Development

12 Lecture Hours

Causes and Consequences of Poverty in Developing Economies

Measurement 0f Poverty: Poverty Line, Poverty Indices – Human Poverty Index (HPI),
Multidimensional Poverty Index (MPI) - Vicious Circle of Poverty Hypothesis

Income Inequality and Wealth Distribution –A Comparison of Commonly Used Inequality

Measures (Lorenz Curve, Gini Coe¢ cient)

Gender Inequality - Gender Inequality Index (GII)

9.3 Dual Economy and Development Strategies

12 Lecture Hours

Surplus Labour and Disguised Unemployment-Basic Concepts

Lewis Model of Economic Development with Unlimited Supply of Labour.

Balanced and Unbalanced Growth as Development Strategies

Choice of Techniques

9.4 Financial Inclusion and Development

12 Lecture Hours

Financial Inclusion and Its Impact on Economic Development

Access to Credit and Financial Services in Rural Areas - Micro…nance and Its Role in
Poverty Alleviation

Role of Banks and Financial Institutions in Promoting Development

Objectives and Functions of IMF, World Bank, WTO

Economics Syllabus/ CCF/ CU Page: 22

 Economics Syllabus/ CCF/ CU

Tutorial
Marks: 25, Credits: 1
No. of Lecture hours (Tu.): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point, (iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Text/ References:

1. “Economic Development” by Todaro and Smith, Pearson Education, 2009

2. “Development Economics” by Debraj Ray, Oxford University Press, 2009.

3. “Analytical Development Economics” by Kaushik Basu, OUP

4. “Growth & Development” by A. P. Thirlwall

5. "Economics of Development" by Dwight H. Perkins, Steven Radelet, David L. Lindauer,

and Steven A. Block

6. "Poverty, Inequality, and Development: Essays in Honor of Erik Thorbecke" edited by

Hans Binswanger-Mkhize, Kym Anderson, and Kym Anderson

7. "The End of Poverty: Economic Possibilities for Our Time" by Je¤rey D. Sachs

8. "Financial Inclusion: Theory and Measurement" edited by J. D. von Pischke, C. R. Cull,

and T. Harten

9. "Financial Inclusion, Growth, and Inequality" by Thorsten Beck

10. "Micro…nance for Bankers and Investors: Understanding the Opportunities and Chal-
lenges of the Market at the Bottom of the Pyramid" by Elisabeth Rhyne

Web-links:

1. World Bank: https://www.worldbank.org/

2. International Monetary Fund (IMF): https://www.imf.org/

3. United Nations Conference on Trade and Development (UNCTAD): https://unctad.org/

4. The United Nations Development Programme (UNDP): https://www.undp.org/

Economics Syllabus/ CCF/ CU Page: 23

 Economics Syllabus/ CCF/ CU

10 Data Analysis and Research Methodology

Theory
Marks: 50, Credits: 2
No. of Lecture hours (Th.): 30
[For Semester-III]

10.1 Methodologies of collection of data

5 lecture hours
Complete enumeration vs. sample survey
Sampling techniques: basic ideas of simple random sampling (with and without replace-
ment), strati…ed random sampling, circular sampling, sampling proportional to size (math-
ematical proof/mathematical demonstration not required for any type of sampling)
Practical methods of drawing random sample using random number tables.
Prerequisites for …eld survey –preparation of blank tables
Preparation of questionnaire depending on nature of survey- illustrations on the basis of
preparation of hypothetical questionnaire
Textbook:
1. Goon, A. M, Gupta, M. K, and Dasgupta, B. Fundamentals of Statistics (Volumes One
and Two),The World Press Private Ltd
2. "Research Methodology: Methods and Techniques" by C.R. Kothari and Gaurav Garg
Reference:
1. "Elementary Survey Sampling" by Richard L. Schea¤er, William Mendenhall, and R.
Lyman Ott

10.2 Recording & Validating of data

5 lecture hours
Recording of data after completion of survey: Manual & Digital
Tabular representation of data collected
Cross checking of data after tabular representation
Role of units of measurement
Textbook:
1. Goon, A. M, Gupta, M. K, and Dasgupta, B. Fundamentals of Statistics (Volumes One
and Two),The World Press Private Ltd
2. "Fundamentals of Applied Statistics" by S.C. Gupta and V.K. Kapoor
Reference:
1. "Survey Methodology" by Robert M. Groves et al.

Economics Syllabus/ CCF/ CU Page: 24

 Economics Syllabus/ CCF/ CU

10.3 Elements of Report writing

5 lecture hours

Locating the basic issues- theme based literature survey and motivation behind any study-
objectives of the study-development of writing skills.

Methodological issues: Use of tables and graphs.

Use of various measures of central tendency and dispersion in analysing the results.

Insertion of footnotes or endnotes.

Preparation of Bibliography

Textbook:

1. Goon, A. M, Gupta, M. K, and Dasgupta, B. Fundamentals of Statistics (Volumes One

and Two),The World Press Private Ltd

2. "Business Research Methods" by Donald R. Cooper and Pamela S. Schindler

Reference:

1. "The Craft of Research" by Wayne C. Booth et al.

10.4 Basics of Power Query in MS Excel, Power BI

15 lecture hours

Power Query in Excel - Connect, Transform, Combine, Load

Power BI - Loading Excel data, Visualize data, Explore data, Make informed decisions

Reference:

1. “Cleaning Excel Data with Power Query: Straight to the Point” Du Soleil, Oz; Indepen-
dent Publishers Group, 2019

2. https://learn.microsoft.com/en-us/power-bi/fundamentals/ desktop-what-is-desktop?source=recommend

Practical
Marks: 50, Credits: 2
No. of Lecture hours (Tu.): 30
[For Semester-III]

Practical: –Sample Survey (Preparation of Questionnaire & Data Collection: 25 marks),

Report Writing (Presentation using MS Excel Dynamic Dashboard, Interpretation &
Analysis: 15 marks) & Viva (10 marks).

Total Practical Hours: 30

Students will Prepare a Questionnaire and Collect Primary Data, and then they should
make Statistical Analysis based on the use of Excel Worksheet Program software (Mi-
crosoft Excel). They are to prepare one Dynamic Interactive Dashboard in this context.

Economics Syllabus/ CCF/ CU Page: 25

 Economics Syllabus/ CCF/ CU

Students should have good knowledge about the sampling procedure used in collecting
data. On the day of the Practical examination students should carry the data set used in
the report.

It is a computer laboratory-based Practical based on which the project report will be

constructed. Use of computer laboratory is essential for running the Worksheet Program
and for handling the data.

Small Sample Survey, Data Analysis & Report Writing may be done by a single student
or by a group of students (not exceeding 5 students in a single group) depending on the
decision of the internal examiner/ supervisor.

The Report should be supervised by a subject teacher approved by the institution. But
viva-voce will always be with respect to individual student, not for the group as a whole.

The norm of examination for this Practical part of the course will be decided as per
university modalities. To be more speci…c, the Practical examination of the project is to
be conducted on the basis of the content of the survey report, use of Excel Worksheet
Program in the computer laboratory and also on the basis of a viva-voce based on the
candidate’s knowledge about the data set along with economic insights. Data should be
primary, and data to be justi…ed by the student.

Economics Syllabus/ CCF/ CU Page: 26

 Economics Syllabus/ CCF/ CU

11 Mathematical Economics (I)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-IV]

11.1 Preliminaries
20 Lecture hours
Sets and their operations –Cartesian Products of sets, Open and Closed sets, Convex
sets
Matrices – Elementary Operations, Rank of a Matrix, Determinant and Inverse of a
square matrix, Solution of a system of linear equations using Cramer’s rule, Eigen values
and Eigen vectors
Functions of One Real Variable

– Geometric properties of functions –Increasing and Decreasing functions, convex and

concave functions, Quasi-concave and Quasi-convex functions, Domain and Range of
a Function, Concepts of monomial and polynomial functions, Linear and Non-linear
functions, Explicit and Implicit functions, Number System
– Limit and Continuity of a Function –Di¤erent Limit Theorems (without proofs)
– Di¤erentiability of a function –Concept of …rst principle –First-order di¤erentiation
and Second-order di¤erentiation; L’Hospital’s Rule
– First derivative and slope of a function, Second derivative and curvature of a function
– Graphs of Linear, Quadratic, Polynomial, Power, Exponential and Logarithmic
– Functions
– Quasi-convexity and quasi-concavity of functions –conditions for checking
– Applications in economics –Marginal and Average functions, Elasticity

Functions of several variables

– Partial and total derivatives –Hessian Matrix

– Monotonic transformation of a function, Homogeneous and homothetic function,
Euler’s theorem
– Implicit Function Theorem (without proof), System of non-linear equations –Jaco-
bian determinant and existence of solution
– Conditions for convexity / concavity, conditions for quasi-convexity /quasi- concavity
for two-variable functions
– Level curves –de…nition, slope and curvature
– Applications in economics –Utility function –Marginal Utility, Indi¤erence curves;
Demand function – various elasticities of demand; Production function – Marginal
Product, Isoquants and Output elasticity; Comparative Static Analysis

[Ref: Chiang, A.C. and Wainwright (CW), Fundamental Methods of Mathematical Eco-
nomics, McGraw-Hill Book Co. – Chapters on ‘Economic Models’, ‘Equilibrium Analysis in
Economics’, ‘Linear Models and Matrix Algebra’, ‘Linear Models and Matrix Algebra (contin-
ued), ‘Comparative Statics and the Concept of Derivative’, ‘Rules of Di¤erentiation and their
Use in Comparative Statics’, ‘Comparative Static Analysis of General Functions Models’‘The
Case of More than One Choice Variable’, ‘Optimization with Equality Constraints’]

Economics Syllabus/ CCF/ CU Page: 27

 Economics Syllabus/ CCF/ CU

11.2 Single Variable Optimization

10 Lecture hours

Concepts of Local and Global Maximum/Minimum, Maximum/Minimum on the Bound-

ary and in the Interior

Stationary/Extreme Points and Values

Signi…cance of First order and second order conditions of maximisation/ minimisation

Applications in economics –

– Pro…t maximization with respect to output for a competitive …rm

– E¤ects of (a) lump-sum tax (b) speci…c tax (c) ad valorem tax under perfect compe-
tition

[Ref: CW –Ch. on ‘Optimisation: A Special Variety of Equilibrium Analysis’; Henderson,

J. M. and R.E. Quandt, R. E. (HQ), Microeconomic Theory: A Mathematical Approach, Tata
McGraw-Hill Publishing Company Limited –Ch. On ‘Market Equilibrium’]

11.3 Optimisation of Several Variable Functions

15 Lecture hours

Concepts of Unconstrained and Constrained optimisation

Unconstrained optimisation of a Function of two variables - conditions for max-

imisation / minimization – stationary point / extreme values, Hessian determinant and
the concepts of positive de…nite and negative de…nite

– Applications in economics - Pro…t maximization with respect to factor-uses for a

competitive …rm when Production function is given

Constrained Optimisation with Equality Constraint – Conditions for maximisa-

tion/minimisation, Lagrange method and Bordered Hessian determinant, Value Function
and Envelope theorem

– Applications in Economics –
– Utility maximization problem – Derivation of demand curves, income consumption
curve, indirect utility function, Interpretation of Lagrange multiplier, Roy’s identity
– Expenditure minimization problem – Derivation of compensated demand function,
Shephard’s Lemma, Slutsky’s equation
– Optimal choice of labour and leisure
– Cost minimization problem –Derivation of factor demand function for a cost-minimising
…rm, cost function, expansion path

Constrained optimisation with Inequality Constraint –Application of Kuhn-Tucker

conditions

Linear Programming Problem – Formulation of an LPP, Graphical solution, Basic

feasible solution, Slack and surplus variables, Duality, Duality Theorems (without proofs)

– Economic Applications –

Economics Syllabus/ CCF/ CU Page: 28

 Economics Syllabus/ CCF/ CU

– Diet problem, Production problem, Leontief Static Open Model and Leontief Static
Closed Model and Hawkins-Simon conditions –Economic interpretation of Dual

[Ref: CW – Chapters on ‘Optimisations: A Special Variety of Equilibrium Analysis’, ‘The

Case of More than One Choice Variable’, ‘Optimisation with Equality Constraints’, ‘Further
topics in optimisation’; Chiang, Alpha C., ‘Linear Programming’, ‘Linear Programming (con-
tinued)’; HQ – Chapter on ‘Topics in consumer behavior’, ‘The theory of the …rm’; Dorfman,
R., Samuelson, P.A. and Solow, R. M., Linear Programming and Economic Analysis, Dover
Publications –Ch. on ‘The Statical Leontief System’]

Tutorial
Marks: 25, Credit: 1
Tutorial contact hours (Tu): 15
[For Semester-IV]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point, (iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Additional References

1. Dixit, A. K., Optimization in Economic Theory, Oxford University Press.

2. Hoy, M., Levernois, McKenna, C., Rees, R. and Stengos, T. Mathematics for Economics,
PHI Learning Private Limited.

3. Intrilligator, Michael D., Mathematical Optimization and Economic Theory, PHI Learning
Private Limited.

4. Renshaw,G., Maths for Economics, Oxford University Press.

5. Simon, C. P. and L. Blume, Mathematics for Economists, W. W. Norton & Company Ltd.

6. Sydsaeter, K., Hammond, P. J. and Storm, A., Essential Mathematics for Economic Analy-
sis, Pearson.

7. Silberberg, E. and Suen, W., The Structure of Economics: A Mathematical Analysis,

McGraw-Hill.

Economics Syllabus/ CCF/ CU Page: 29

 Economics Syllabus/ CCF/ CU

12 Macroeconomics (II)
Theory
Marks: 25, Credit: 1
No. of contact hours (Th): 15
[For Semester-IV]

12.1 Income Determination in the Short-run (Part-II): The IS-LM Model

10 lecture hours

IS-LM Model - equilibrium, stability and comparative statics-Crowding out -E¤ects of

…scal and monetary policies.

12.2 Aggregate Demand and Aggregate Supply- the Complete Keynesian

Model
10 lecture hours

Derivation of aggregate demand curve.

Derivation of aggregate supply curves both in the presence and absence of wage rigidity.

Equilibrium, stability, and comparative statics-e¤ects of monetary and …scal policies. Ef-
fects of wage cut.

Unemployment equilibrium and its causes- possible solutions including real balance e¤ect.

12.3 Keynes vs. Classics

7 lecture hours

Keynesian vs classical system.

Hybrid models under Classical/Keynesian framework.

Friedman’s restatement of classical ideas

12.4 Money Supply, Monetary Policy and Government Budgetary Opera-

tions
10 lecture hours

Measures of money supply with special reference to India (M1, M2, M3 and M4)

Balance sheet view of money supplied by the banking sector as a whole

High powered money –de…nition

Balance sheet of Reserve Bank of India and High-powered money

Balance sheet of Commercial banks and basic ideas of money multiplier theory.

Deposit multiplier, currency multiplier, reserve multiplier, credit multiplier and money
multiplier in the context of the theory of money supply

Economics Syllabus/ CCF/ CU Page: 30

 Economics Syllabus/ CCF/ CU

Interest sensitivity of money supply and the slope of the LM curve

Monetary policy –Open Market Operations, Statutory Liquidity Ratio, Bank rate, vari-
able reserve ratio, repo rate.

Government Budget De…cit –De…cit …nancing and monetary policy.

12.5 In‡ation-Unemployment Trade-o¤ and Expectations

8 lecture hours

In‡ation and unemployment trade-o¤.

Four models of aggregate supply: The Sticky-Wage Model, The Worker-Misperception

Model, The Imperfect Information Model, and The Sticky-Price Model.

Deriving the Phillips Curve from Aggregate Supply Curve.

Short run and long- run Phillips curve –role of adaptive expectations and rational expec-
tations.

Disin‡ation, Sacri…ce Ratio and policy ine¤ectiveness.

Tutorial
Marks: 25, Credit: 1
Tutorial contact hours (Tu): 15
[For Semester-IV]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point, (iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Texts/ References:
Textbooks:

1. Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.

2. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 2010

References

1. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005.

2. Ackley Gardner (old), Macroeconomic Theory, Macmillan, 1961

3. Ackley Gardner(new), Macroeconomics: Theory and Policy: Macmillan,1978

4. Ghosh Chandana and Ghosh Ambar, Macroeconomics, PHI Learning Pvt Ltd, 2014

Economics Syllabus/ CCF/ CU Page: 31

 Economics Syllabus/ CCF/ CU

5. Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Education, Inc., 7th
edition, 2011.

6. Venieris, Y.P. and Sebold F.D., Macroeconomics: Models and Policy, John Wiley and
Sons, 1977

7. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 10th edition, 2016.

8. William Branson. Macroeconomic Theory and Policy, Indian reprint, East West Press,
3rd edition, 2014.

9. Levacic Rosalind and Rebmann Alexander, Macroeconomics: An Introduction to Keyne-

sian and Neo-Keynesian Controversies, Palgrave Macmillan, 1982.

10. Sikdar Soumen, Principles of Macroeconomics, Oxford University Press

11. Blaug Mark, Economic Theory in Retrospect, 5th Edition, Cambridge University Press,
1997

12. Mueller, M. (edited), Readings in Macroeconomics, London: Holt, Rinehart and Winston,
1973.

Economics Syllabus/ CCF/ CU Page: 32

 Economics Syllabus/ CCF/ CU

13 Statistics for Economics

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-IV]

13.1 Elementary Probability Theory

8 Lecture hours

Sample spaces and events (concepts and de…nitions using set theory)

Classical and Axiomatic de…nitions of probability and their comparison

Conditional Probability and Independence of Events, Pairwise and Mutual independence

Theorem of total probability, Theorem of compound probability, Bayes’ Theorem and

their applications

[Ref: Goon, A. M, Gupta, M. K, and Dasgupta, B. (GGDG) Fundamentals of Statistics,

Volume One, The World Press Private Ltd –Chapter on ‘Elements of Probability Theory’]

13.2 Probability Distributions

15 Lecture hours

Random variable (discrete and continuous) – probability distribution, probability mass

function (pmf), probability density function (pdf), distribution function

Expected values of random variables – mean, variance, raw moment, central moment,
moment generating function (mgf)

Properties of commonly used discrete and continuous distributions:

– Binomial –pmf, mean, variance, moment generating function, measures of skewness

and kurtosis
– Poisson – pmf, mean, variance, moment generating function, measures of skewness
and kurtosis
– Normal –pdf, mean, median, mode, variance, moment generating function, measures
of skewness and kurtosis points of in‡ection

Joint distribution of random variables (discrete and continuous) –joint pmf/ pdf, marginal
pmf/pdf, conditional pmf/pdf –independence of jointly distributed random variables

[Ref: GGDG Vol 1 –Chapters on ‘Univariate Theoretical Distributions’, ‘Elements of Prob-

ability Theory’]

Economics Syllabus/ CCF/ CU Page: 33

 Economics Syllabus/ CCF/ CU

13.3 Sampling Theory and Distribution

7 Lecture hours

Concepts of Complete enumeration survey and sample survey, sampling and non- sampling
errors, Population, sample, statistic, parameter, sample size, population size, random
sampling, sampling distribution and standard error of a statistic

Some Methods of Random Sampling:

– Simple random sampling (SRS) with replacement (WR) and without replacement
(WOR) –Practical methods of drawing SRSWR and SRSWOR
– Mean and standard error of sample mean in cases of SRSWR and SRSWOR
– Mean and standard error of sample proportion in cases of SRSWR and SRSWOR
– Mean of sample variance in case of SRSWR
– Strati…ed sampling (basic concept only)
– Multi-stage sampling (basic concept only)

Some Basic Distributions –

– Chi-square, Student’s t and F distributions –de…nitions, important properties (mean,

variance, skewness - without derivations)

[Ref: GGDG Vol 1 –Chapter on ‘Random Sampling and Sampling Distributions’; Murthy,
M.N., Sampling Theory, Chapters on ‘Need for Sample Survey’, ‘Concepts, De…nitions and
Notations’, Simple Random Sampling’, ‘Strati…ed Sampling’, ‘Multi-stage Sampling’]

13.4 Statistical inference

15 Lecture hours

Basic ideas of Estimation and Testing, Point Estimation and Interval Estimation

Point Estimation –Criteria of a good estimator –unbiasedness, minimum variance, mean

square error, Consistency and Su¢ ciency

– Basic principles of Ordinary Least Square, Maximum Likelihood Method, Method of

Moments
– MLEs of parameters of Binomial, Poisson and Normal distributions

Interval Estimation –

– Con…dence interval for population mean and SD of Normal distribution

– Con…dence interval for Population Proportion

Testing of hypothesis – Concepts of null hypothesis, alternative hypothesis, Type I and

Type II errors, Power of a test, p-value

– Testing related to mean and SD of normal distribution

– Testing related to Population Proportion

[Ref: GGDG Vol 1 –Chapters on ‘Basic Principles of Statistical Inference and Exact Tests
and Con…dence Intervals’]

Economics Syllabus/ CCF/ CU Page: 34

 Economics Syllabus/ CCF/ CU

Tutorial
Marks: 25, Credit: 1
Tutorial contact hours: 15
[For Semester-IV]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Additional References:

1. Cochran, William G., Sampling Techniques, John Wiley.

2. Freund, John E., Mathematical Statistics, Prentice Hall.

3. Mood, A.M., Graybill, F. A. and Boes, D.C., Introduction to the Theory of Statistics,
McGraw Hill.

Economics Syllabus/ CCF/ CU Page: 35

 Economics Syllabus/ CCF/ CU

14 Indian Economics (I)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th.): 45
[For Semester-IV]

14.1 Economic Development since Independence

(15 hours)

Growth and development under di¤erent policy regimes (from planning to market-based
development)

– Objectives, achievements and failures of Planning

– Economic crisis during the late 1980s
– Economic Reforms –Critical Analysis

Structural changes in the post-reforms period

Regional variation of growth and development

14.2 Population and Human Development

(9 hours)

Demographic trends and issues

Health: Basic problems and Government measures

Education: Basic problems and Government measures, Right to Education (RTE) Act
2009

14.3 Growth and Distribution: Policy perspectives

(9 hours)

Trends in GDP and per capita GDP

Poverty and Inequality

Unemployment, Youth unemployment (School Transition to Work)

14.4 Economic Reforms in India

(12 hours)

Industrial Sector Reform

Financial Sector Reforms

Fiscal Sector Reforms

Trade & External Sector Reforms

Labour market Reforms

Economics Syllabus/ CCF/ CU Page: 36

 Economics Syllabus/ CCF/ CU

Reforms in the Public Sector

References Books:

1. "Indian Economy" by Ramesh Singh

2. "Indian Economy: Performance and Policies" by Uma Kapila

3. "Indian Economy: Problems and Development" by A.M. Gokhale and S.S. Acharya

4. "Indian Economy since Independence" by Uma Kapila

5. "Indian Economy: Economic Development and Policy" by Mishra and Puri

6. "Indian Economy: Economic Development and Policy" by Dutt and Sundaram

7. "India’s Economic Development Since 1947: 1947-1970" by T.V. Sathyamurthy

8. "The Evolution of the Indian Economy: 1900 to the Present Day" by Irfan Habib

9. "India’s Economic Reforms and Development: Essays for Manmohan Singh" edited by
Isher Judge Ahluwalia and I.M.D. Little

10. "India’s Economic Policy: Preparing for the Twenty-First Century" by I.G. Patel and
Ismail Serageldin

11. "India Unbound: The Social and Economic Revolution from Independence to the Global
Information Age" by Gurcharan Das

12. "The Indian Economy: Problems and Prospects" by Bimal Jalan

13. "India: Economic Reforms and Growth" by Jagdish Bhagwati

14. "India’s Economic Transformation" edited by K.L. Krishna and S. Mahendra Dev

15. "India’s Economy: Performance and Challenges" by S.K. Ray

16. "India’s Economy: Problems and Prospects" by Arvind Panagariya

17. "The Oxford Handbook of the Indian Economy" edited by Chetan Ghate

18. "Indian Economy: Environment and Policy" by Gaurav Datt and Ashwini Deshpande

19. "Indian Economy: Issues and Policies" by D.K. Hathi and C.B. Mamoria

20. "The Indian Economy: A Macroeconomic Perspective" by S.S. Bhalla

21. "The Indian Economy: Issues, Policies and Performance" edited by Rajib Bhattacharya,
& Ananya Ghosh dastidar, 2024, Routledge India

22. "Bharatiyo Arthaniti", Sudakshina Gupta (Paschimbanga Rajya Pustak Parshad)

Web-links:

Reserve Bank of India: https://www.rbi.org.in/

Ministry of Finance, Government of India: https://www.…nmin.nic.in/

Planning Commission (now NITI Aayog): https://niti.gov.in/

Economics Syllabus/ CCF/ CU Page: 37

 Economics Syllabus/ CCF/ CU

Tutorial
Marks: 25, Credits: 1
No. of Lecture hours (Tu.): 15
[For Semester-IV]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Economics Syllabus/ CCF/ CU Page: 38

 Economics Syllabus/ CCF/ CU

15 Sustainable Development
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-IV]

15.1 The Approach Towards Sustainability-Introductory ideas

10 lecture hours

Key environmental issues and problems - Economic way of thinking about these problems

Circular ‡ow of Environmental Pollutants and Waste Recycling - Laws of Thermodynamics

Renewable and Non-renewable Resources - The issue of Sustainability

15.2 The Meaning of Sustainable Development

20 lecture hours

Di¤erent de…nitions of Sustainable Development

Rules of Sustainable Development

Measures of Sustainable Development

Sustainable Management of resources-the role of property rights

Stakeholders associated with Sustainable Management of di¤erent types of renewable re-

sources: …shery, forestry and water

The concept of Sustainable livelihood in the context of sustainable resource management.

15.3 Trans-boundary pollution, Climate Change and Sustainable Develop-

ment
15 lecture hours

Implementation of Environmental policies in Developing Countries and International ex-

perience;

Transboundary Environmental Problems - International Meetings, Protocols and Treaties;

Economics of Climate Change - Basic ideas of the Carbon Credit Market –Clean Devel-
opment Mechanism and International Emission Trading.

Tutorial
Marks: 75, Credits: 1
No. of Lecture hours (Tu): 15
[For Semester-IV]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Economics Syllabus/ CCF/ CU Page: 39

 Economics Syllabus/ CCF/ CU

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Texts

1. Rabindranath Bhattacharya: Environmental Economics: An Indian Perspective , Oxford

University Press.

2. Pearce and Turner: Environmental and Natural Resource Economics, John Hopkins Uni-
versity Press,1991

References

1. Roger Perman, Yue Ma, Michael Common, David Maddison and James McGilvray, Natural
Resource and Environmental Economics, Pearson Education/Addison Wesley, 4th edition,
2011.

2. Charles Kolstad, Intermediate Environmental Economics , Oxford University Press, 2nd

edition, 2010.

3. IPCC (Intergovernmental Panel on Climate Change), Fifth Assessment Report, 2014.

4. National Water Policy 2012, Ministry of Water Resources, Government of India.

5. National Forest Policy 2016: Ministry of Environment and Forests, Government of India

6. National Policy on Marine Fisheries, 2017: Ministry of Animal Husbandry, Dairying and
Fisheries, Government of India.

Economics Syllabus/ CCF/ CU Page: 40

 Economics Syllabus/ CCF/ CU

16 Microeconomics (III)
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-V]

16.1 Imperfect Market Structure

20 lecture hours

Monopoly and barriers to entry- output determination and price rule, measure and sources
of monopoly power, social costs of monopoly power-Deadweight loss

Pricing with market power- …rst, second- and third-degree price discrimination, intertem-
poral price discrimination-peak-load pricing and two-part tari¤-multiplant monopoly

Monopolistic competition- short run and long run equilibrium, excess capacity

Oligopoly- Oligopoly equilibrium as Nash equilibrium, Cournot, Bertrand and Stackelberg

Model- use of isopro…t curves and simple game theoretic interpretation. Sweezy‘s kinked
demand curve model and non-collusive equilibrium. Competition versus collusion- the
Prisoners‘Dilemma. Collusive Oligopoly –Cartels and Price Leadership

16.2 Input market under Imperfect Competition

5 lecture hours

Monopsony, bilateral monopoly in labour market— Monopolistic and monopsonistic ex-

ploitation

16.3 General Equilibrium, E¢ ciency and Welfare

20 lecture hours

General Equilibrium and Economic E¢ ciency- Exchange, production and welfare, Pareto
Optimality, Edgeworth box and contract curve, Pareto e¢ ciency and perfect competition

Reasons for Market failure, Pareto e¢ ciency and market failure (externalities and public
goods), property right and Coase Theorem

Markets with asymmetric information-adverse selection, moral hazards, agency problems

(concepts only)

Tutorial
Marks: 25, Credits: 1
No. of Lecture hours (Th): 45
[For Semester-V]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

Economics Syllabus/ CCF/ CU Page: 41

 Economics Syllabus/ CCF/ CU

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Texts/ References:

1. Pindyck, Rubinfeld and Mehta, Microeconomics, Pearson

2. Hal. R Varian, Microeconomic Analysis, WW Norton and Company, 3rd edition, 2013

3. J Tirole, Theory of Industrial Organisation, MIT Press, 1988

4. K Binmore, Fun and Games: A text on Game Theory, OUP,1991

5. Anindya Sen, Microeconomics, OUP

6. C. Snyder and W. Nicholson, Fundamentals of Microeconomics, Cengage Learning, 2010

7. Satya Chakrabarty, Microeconomics, Allied Publishers

8. Ferguson, C. E. and Gould, J.P., Microeconomic Theory, Aitbs Publishers and Distribu-
tors, New Delhi.

9. Cohen, K.J. and Cyert, R.M.,Theory of the Firms: Resource Allocation in a Market
Economy , Prentice Hall India,1981

10. Chauhan, S.P.S. , Microeconomics- An Advanced Treatise , Prentice Hall India, 2009.

11. Walter Y.Oi- “ A Disneyland Dilemma: Two Part Tari¤s for a Mickey Mouse Monopoly”
The Quarterly Journal of Economics, Vol. 85, No. 1 (Feb., 1971), Oxford University Press
( For Two-part Tari¤ only)

Economics Syllabus/ CCF/ CU Page: 42

 Economics Syllabus/ CCF/ CU

17 Macroeconomics (III)
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-V]

17.1 Basic Tenets of New Classical and New Keynesian Theories

10 Lectures

New Classical Theory-The concept of rational expectations and the theory of real business
cycle-introductory ideas

New Keynesian Theory- nominal rigidities and real rigidities, rigidities in interest rates
and credit rationing-introductory ideas

17.2 Macroeconomic Foundations

15 Lectures

Consumption: Keynesian consumption function; Fisher’s theory of optimal inter-temporal

choice; life-cycle and permanent income hypotheses; Dusenberry’s relative income hypoth-
esis;

Demand for money: Regressive Expectations and Tobin’s portfolio choice models; Bau-
mol‘s inventory theoretic money demand.

17.3 Economic Growth

20 lectures

Harrod and Domar models of economic growth.

Solow one sector growth model-steady state-golden rule- -dynamic e¢ ciency.

Technological progress

Elements of endogenous growth theory-basic ideas-the AK model

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15
[For Semester-V]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Economics Syllabus/ CCF/ CU Page: 43

 Economics Syllabus/ CCF/ CU

Textbooks:

1. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 2010

2. Ghosh Chandana and Ghosh Ambar, Macroeconomics, PHI Learning Pvt Ltd, 2014

References

1. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005.

2. Romer David , Advanced Macroeconomics, McGraw Hill Education, 4th edition, 2011.

3. Ghosh Chandana and Ghosh Ambar, Economics of the Public Sector, PHI Learning Pvt
Ltd, 2008

4. Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Education, Inc., 7th
edition, 2011.

5. Richard T. Froyen, Macroeconomics, Pearson Education Asia, 10th edition, 2016.

6. Steven M. She¤rin, Rational Expectations, Cambridge University Press, 2nd edition, 1996.

7. William Branson. Macroeconomics , Harper and Row, 3rd edition, 1989

8. Snowdon and Vane (ed), A Macroeconomics Reader, Routledge, Taylor and Francis Group.

9. R. Barro. Macroeconomics, 5th edition, The MIT Press, 1989

10. A.K.Sen (ed). Growth Economics, Penguin, 1970

11. Barro, R.J. and Xavier Sala-i-Martin , Economic Growth,

12. Errol D‘Souza. Macroeconomics, Pearson Education (New Delhi), 2009.

13. Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.

14. Laidler, E.W. ,The Demand for Money : Theories and Evidence, Dun-Donnelley Publish-
ing Corporation, New York, 1978.

Economics Syllabus/ CCF/ CU Page: 44

 Economics Syllabus/ CCF/ CU

18 Mathematical Economics II
Theory
Marks: 75 Credits: 3
No. of Lecture hours (Th): 45
[For Semester-V]

18.1 Game Theory

10 Lecture hours

Concept of a game –Pure Strategy and Mixed Strategy, Constant-sum and Non-constant-
sum game –Constant-sum game as a zero-sum game

Static Games –Pure Strategy Solution Methods, viz., Maximin–Minimax technique, Dom-
inant strategy equilibrium, Iterated dominant strategy equilibrium, Nash equilibrium and
Mixed Strategy Solution Method

Some Common Games –Prisoners’Dilemma, Battle of Sexes, Matching Pennies

Dynamic Games –Method of Backward Induction (Basic concept)

[Ref : Gibbons, R., Game Theory for Applied Economists, Princeton University Press –Ch.
on ‘Static Games of Complete Information’]

18.2 Integration of Functions

5 Lecture hours

Integration of functions

Integration by Substitution and Integration by parts

Applications in Economics –…nding total functions from marginal functions, Present Value

[Ref: Chiang, A.C. and Wainwright (CW), Fundamental Methods of Mathematical Eco-
nomics, McGraw-Hill Book Co. –Ch. on ‘Economic Dynamics and Integral Calculus’]

18.3 Di¤erence Equations

10 Lecture hours

First order linear di¤erence equations and their solutions

Second order linear di¤erence equations and their solutions

Non-linear Di¤erence Equations –Qualitative-Graphic Approach

Applications in Economics –Cobweb model, A model with lagged adjustment, Samuelson’s

multiplier-accelerator model

[Ref: CW – Chapters on ‘Discrete time: …rst order di¤erence equations’, ‘Higher Order
Di¤erence Equations’; HQ –Chapter on ‘Market equilibrium’]

Economics Syllabus/ CCF/ CU Page: 45

 Economics Syllabus/ CCF/ CU

18.4 Di¤erential Equations

20 Lecture hours

First order linear di¤erential equations and their solutions

Second order linear di¤erential equations and their solutions
Solution of linear system of Di¤erential Equations (i) via Eigen values(ii) by substitution
Fixed Point and stability
Qualitative-Graphic Approach –One-variable and Two-variable Phase Diagrams
Linearization of a Non-linear Di¤erential-Equation System and Stability Analysis
Applications in microeconomics and macroeconomics –Price dynamics in a single market,
Multi-market equilibrium and stability, A model with in‡ation-unemployment interaction,
Solow model, ISLM model

[Ref: CW – Chapters on ‘Continuous Time: First Order Di¤erential Equations’, ‘Higher

Order Di¤erential Equations’, ‘Simultaneous di¤erential equations and di¤erence equations’;
Strogatz, Steven H., Non-linear Dynamics and Chaos, Sarat Book Distributors (for 4.4); Silber-
berg, E. and Suen, W., The Structure of Economics: A Mathematical Analysis, McGraw-Hill,
Ch. on ‘Equilibrium, Dis-equilibrium, and the Stability of Markets’]

Tutorial
Marks: 25 Credit: 1
Tutorial contact hours (Th): 15
[For Semester-V]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).
Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]
Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.
A Tutorial class also helps a teacher to clarify any topic in detail to the students.
A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Additional References

1. Aliprantis, D.C. and Chakrabarti, S. K., Games and Decision-Making, Oxford University
Press.
2. Allen, R.G.D., Mathematical Analysis for Economists, Macmillan and Co. Limited.
3. Hoy, M., Levernois, McKenna, C., Rees, R. and Stengos, T. Mathematics for Economics,
PHI Learning Private Limited.
4. Renshaw,G., Maths for Economics, Oxford University Press.
5. Sydsaeter, K., Hammond, P. J. and Storm, A., Essential Mathematics for Economic Analy-
sis, Pearson.

Economics Syllabus/ CCF/ CU Page: 46

 Economics Syllabus/ CCF/ CU

19 Econometrics I
Theory
Marks: 75 Credits: 3
No. of Lecture hours (Th): 45
[For Semester-V]

19.1 Nature and Scope of Econometrics

3 lecture hours

Distinction between Economic Model and Econometric model.

Concept of stochastic relation, Role of random disturbance in econometric model.

Application of Econometrics in di¤erent branches of social science.

19.2 Classical Linear Regression Model

Simple linear regression model (SLRM) and multiple linear regression model (MLRM)
with two regressors
27 lecture hours

The classical assumptions (basic interpretation); Concepts of population regression func-

tion and sample regression function, SLRM and MLRM.

Estimation of SLRM and MLRM (with two regressors only) by method of ordinary least
squares.

Properties of the Least Squares Estimators in SLRM- Gauss-Markov theorem.

Testing of hypotheses in SLRM and MLRM –Single Test and Joint Test

Goodness of …t (in terms of R2, adjusted R2 and F statistic), Analysis of Variance

(ANOVA).

Economic Interpretation of Regression results –Statistical signi…cance and economic im-

portance.

Simple correlation, partial correlation and multiple correlation (De…nition, and interpre-
tation in the context of SLRM and MLRM).

20 Qualitative (Dummy) Independent Variables

10 lecture hours

Intercept dummy and Slope dummy (only interpretation of the model).

Forecasting - Ex-post forecast and Ex-ante forecast, forecast error (only for two variable
model).

Economics Syllabus/ CCF/ CU Page: 47

 Economics Syllabus/ CCF/ CU

20.1 Violations of Classical Assumptions

5 lecture hours

Multicollinearity - Consequences, Detection (Variance In‡ationary Factor) and Remedies.

Heteroscedasticity - Consequences, Detection (Lagrange Multiplier test) and Remedies.

Autocorrelation - Consequences, Detection (Durbin-Watson test) and Remedies.

Tutorial
Marks: 25 Credit: 1
Tutorial contact hours (Th): 15
[For Semester-V]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Text Books

1. Gujarati, Damodar (2004), Basic Econometrics, McGraw-Hill.

2. Wooldridge, Je¤rey M. (2013), Introductory Econometrics –A Modern Approach, CEN-

GAGE learning.

Reference Books

1. Maddala, G. S. (2002), Introduction to Econometrics, Macmillan Publishing Company.

2. Pindyck, R. and D. Rubinfeld (1997), Econometric Models and Economic Forecasts,

McGraw-Hill.

Economics Syllabus/ CCF/ CU Page: 48

 Economics Syllabus/ CCF/ CU

21 Economic History of India (1857-1947)

Theory
Marks: 75 Credits: 3
No. of Lecture hours (Th): 45

21.1 Colonial India: Background and Introduction

10 lecture hours

Overview of the colonial economy

Macro Trends: National Income; Population; Occupational structure.

21.2 Agriculture
10 lecture hours

Agrarian structure and land relations

Agricultural markets and institutions –credit, commerce and technology;

Trends in performance and productivity

Famines.

21.3 Railways and Industry

10 lecture hours

Railways

The de-industrialisation debate

Evolution of entrepreneurial and industrial structure

Nature of industrialisation in the inter-war period

Constraints to industrial breakthrough, Labour relations.

21.4 Economy and State in the Imperial Context

15 lecture hours

The imperial priorities and the Indian economy

Drain of wealth

International trade, Capital ‡ows and the colonial economy –changes and continuities

Government and …scal policy.

Tutorial
Marks: 25 Credit: 1
Tutorial contact hours (Th): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Economics Syllabus/ CCF/ CU Page: 49

 Economics Syllabus/ CCF/ CU

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Text
Bhattacharya, Dhiresh, A Concise History of Indian Economy, Progressive Publishers,
1972
References
Irfan Habib, Indian Economy 1858-1914, A People s History of India, Vol.28, Tulika, 2006.
B.R. Tomlison, 1975, India and the British Empire 1880-1935, IESHR, Vol.XII.
Dharma Kumar, the Fiscal System, CEHI, Chapter 12.
Basudev Chatterjee, Trade, Tari¤s and Empire, OUP 1992, Epilogue.
Daniel Thorner, Agrarian Prospect in India, 1977
Amiya Kumar Bagchi, Private Investment in India 1900-1939, Taylor and Francis, 2000.

Economics Syllabus/ CCF/ CU Page: 50

 Economics Syllabus/ CCF/ CU

22 Public Finance
Theory
Marks: 75 Credits: 3
No. of Lecture hours (Th): 45

22.1 Core Concepts

15 lecture hours

Public Goods and Externalities: Understanding the characteristics of public goods, market
failures, and the role of government in addressing externalities.

Public Revenue: Sources of government revenue including taxation (direct and indirect),
fees, and other non-tax revenues.

Public Expenditure: The allocation of public funds for various government activities,
including social welfare, infrastructure, and defence.

Public Debt: The concept of public debt, its implications for the economy, and debt
management strategies.

Taxation: Progressive, Regressive and Proportional

22.2 Basic Concepts of Public Finance Theories

10 lecture hours

Bene…t Principle

Ability-to-Pay Principle

Public Choice Theory (Basics)

Fiscal Federalism

22.3 Issues from Indian Public Finance

20 lecture hours

Current Issues of India’s Tax System.

Working of Monetary and Fiscal Policies in India.

Analysis of Indian Budgetary System

Tutorial
Marks: 25 Credit: 1
Tutorial contact hours (Th): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

Economics Syllabus/ CCF/ CU Page: 51

 Economics Syllabus/ CCF/ CU

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Text

1. Ganguly Subrata, Public Finance : A Normative Approach, Nababharat Publishers

2. Majumdar D. and Bhattacharya S., Sarkari Aay- Byay Tatyer Bhumika, ABS Publishing
House, 2024

References

1. Musgrave, R.A. and P.B. Musgrave, Public Finance in Theory and Practice, Mc- Graw
Hill, 1989.

2. M.M Sury, Government Budgeting in India, Commonwealth Publishers, 1990.

3. Shankar Acharya, Thirty years of tax reform in India, Economic and Political Weekly,
May 2005.

4. Government of India, Report of the 13th Finance Commission.

5. Economic Survey, Government of India (latest).

6. State Finances: A Study of Budgets, Reserve Bank of India (latest).

Economics Syllabus/ CCF/ CU Page: 52

 Economics Syllabus/ CCF/ CU

23 International Economics-I
Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-VI]

23.1 Absolute and Comparative Advantages of Trade

7 lecture hours

Adam Smith‘s theory of Absolute Advantage.

David Ricardo‘s theory of Comparative Advantage.

Arbitrage as the basis and direction of trade; fundamental sources of cross-country price
di¤erences and arbitrage-concept of comparative advantage; externalities, regulation and
perverse comparative advantage

One factor economy, production possibility frontier, relative demand and relative sup-
ply, terms of trade, trade in the Ricardian world, Determination of intermediate TOT,
Complete vs Incomplete specialization, Complete specialization and gains from trade.

23.2 The Building Blocks of Trade Theory

10 lecture hours

The concept of community indi¤erence curve-Justi…cation and properties.

The need for trade indi¤erence curves, derivation of trade indi¤erence curves, properties
of trade indi¤erence map, O¤er curves and its properties. Three important elasticities-
the elasticity of o¤er curves, the elasticity of demand for imports, the elasticity of supply
of exports. International equilibrium and o¤er curves, terms of trade (TOT) and stability,
the Marshall-Lerner condition,

Gains from Trade (GFT) theorem, illustration of GFT, decomposition of GFT, substitu-
tion possibilities and magnitude of GFT.

23.3 Factor Endowment and Trade (Heckscher-Ohlin-Samuelson Model)

15 lecture hours

Heckscher-Ohlin (HO)theorem and price vs physical de…nitions of relative factor abun-

dance.

Role of homotheticity of tastes in the context of physical de…nition

Factor Intensity Reversal in the context of price and physical de…nitions and invalidity of
HO Theorem.

Factor intensity ranking, one-to-one correspondence between commodity price ratio &
factor price ratio (Stolper-Samuelson Theorem), One to one correspondence between en-
dowment ratio and production proportion ( Rybczynski theorem) .

The Factor Price Equalization Theorem-Factor price equalization and complete special-
ization.

Economics Syllabus/ CCF/ CU Page: 53

 Economics Syllabus/ CCF/ CU

Incomplete Specialization, Factor price equalization and Factor Intensity Reversal

Empirical studies- Leontief Paradox.

23.4 Trade Policy

10 lecture hours

Partial Equilibrium Analysis of Tari¤ - cost–bene…t, Quota, Quota- Tari¤ equivalence &
nonequivalence, monopoly e¤ects of quota, subsidy and voluntary export restraint.

General Equilibrium Analysis- distinction between large and small economy, welfare ef-
fects of a tari¤ on small country and large country. Tari¤ ridden o¤er curve, Tari¤ war,
Optimum tari¤ for large economy, Metzler‘s Paradox.

23.5 Balance of Payments

3 lecture hours

Balance of Payments accounts. Autonomous and accommodating transactions. Basic

concepts of Fixed and Flexible exchange rate

Tutorial
Marks: 25 Credit: 1
Tutorial contact hours (Th): 15
[For Semester-VI]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Texts

1. P. Krugman and M. Obstfeld- International Economics (8th Edition) ; Pearson Education

2. R. Caves, J. Frankel and R.W. Jones – World Trades & Payments (9th Ed); Pearson
Education.

3. Rajat Acharyya- International Economics; Oxford University Press

References

1. J.R. Markusen, J.R. Melvin, W.H. Kaempfer, K.E. Maskus –International Trade –Theory
and Evidence, McGraw Hill

2. B. Sodersten, and G. Reed (1994) : International Economics , Macmillan, London, 3rd

edition.

Economics Syllabus/ CCF/ CU Page: 54

 Economics Syllabus/ CCF/ CU

3. M. Chacoliades (1978) : International Trade: Theory and Policy, New York, McGraw-
Hill

4. R. Dornbusch : Open Economy Macroeconomics, Basic Books, Inc. Publishers, New York.

5. Jones, R.W. : The Structure of Simple General Equilibrium Models, Journal of Political
Economy, Vol 73, 1965, pp 551-572

6. Jones, R.W. : A Three Factor Model in Theory, Trade and History, in Bhagwati. J. et al
(eds) Trade, Balance of Payments and Growth, 1971, North Holland, Amsterdam.

7. Chaudhuri, S. and Mukhopadhyay, U.: Foreign Direct Investment in Developing Coun-

tries: A Theoretical Evaluation, Springer, Chapter 2 only, 2014.

Economics Syllabus/ CCF/ CU Page: 55

 Economics Syllabus/ CCF/ CU

24 Environmental & Resource Economics (I)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th.): 45
[For Semester-VI]

24.1 Environment, Ecology, and Economy

10 lecture hours

What is environmental economics

Interlinkages between the Economy and Environment - Circular Economy

Elements of Environmental Degradation

24.2 E¢ ciency and Market Failure

8 lecture hours

Externalities, Public Goods/ Bads, and Market Failure

Property Rights and the Coase Theorem

24.3 Environmental Regulations and the Economics of Environmental Poli-

cies
12 lecture hours

History - The Design

Monitoring and Enforcement

Pigouvian Fees –Single Polluter, Multiple Polluters, Fees vs Subsidies

Regulating Pollution: Command and Control, Economic Incentives

Tradable Pollution Permits (Basic Concepts only)

24.4 Measuring the values of Environmental Costs and Bene…ts

15 lecture hours

Concept of Total Economic Value: User Value & Non-User Value

Actual Market based Valuation, Future Use Value, Bequest Value, Vicarious Value

Objective Standard based Valuation

Subjective Preference based Valuation - Revealed Preference based Valuation: Travel Cost
Method (TCM) & Hedonic Price Theory (HPT)

Stated Preference Method - Constructed Market: Contingent Valuation Method (CVM)

Reference:

1. Bhattacharya R. (ed.), Environmental Economics - An Indian Perspective, OUP.

Economics Syllabus/ CCF/ CU Page: 56

 Economics Syllabus/ CCF/ CU

2. Saha D., Handbook of Environmental Economics, Cambridge Scholars Publishing, 2024

3. Kolstad C, Environmental Economics, OUP

4. Hanley N, Shogren J.F. & White B., Environmental Economics in Theory and Practice,
Macmillan

5. Pearce and Turner: Environmental and Natural Resource Economics, John Hopkins Uni-
versity Press,1991

Tutorial
Marks: 25, Credits: 1
No. of Lecture hours (Tu.): 15
[For Semester-VI]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Economics Syllabus/ CCF/ CU Page: 57

 Economics Syllabus/ CCF/ CU

25 Public Economics (I)

Theory
Marks: 75, Credits: 3
No. of Lecture hours (Th): 45
[For Semester-VI]

25.1 Government in a Market Economy

6 lecture hours

Revisiting the concept of Market failure and externalities; public and merit goods; Mixed
good, Club good, Partial Public good

Government intervention-allocation, Distribution, Stabilization and Regulatory functions

25.2 Choice and Public Economics

12 lecture hours

Characteristics of Pure Public Good; Distinction between Pure Public Good and Private
Good;

Market Failure in case of Pure Public Good, Optimal provision of Public Goods - Public
Provision of Public Goods,

Samuelson Model and Lindahl Equilibrium

25.3 The Revenue and Expenditure of the Government

15 lecture hours

Classi…cation of Taxes; Canons of Taxation;

Principles of Taxation - Bene…t Principle, Ability to Pay Principle, Equal Sacri…ce Prin-
ciple, ;

Incidence and Burden of Taxation;

E¤ects of taxation on work e¤orts, risk-bearing and on savings,

The La¤er curve;

Comparison between direct and indirect taxes –income and substitution e¤ects;

Optimal Taxation

25.4 Public Finance

12 lecture hours

Meaning and Classi…cation of Public Expenditure - government budget and its types–
primary de…cit, …scal de…cit, revenue de…cit and budget de…cit

Meaning of Public Debt; Domar’s model of public debt, Ricardian Equivalence, Sources
of Public Borrowings: internal and external borrowing; E¤ects of Public Debt.

Fiscal federalism-concepts of tax devolution

Economics Syllabus/ CCF/ CU Page: 58

 Economics Syllabus/ CCF/ CU

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15
[For Semester-VI]

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

References:

1. J. F. Due and A. F. Friedlander. Government Finance-Economics of Public Sector,

AITBS Publishers and Distributors, 1994
2. J. Hindriks and G. D. Myles. Intermediate Public Economics, The MIT Press; An-
notated Edition, 2006.
3. R.A. Musgrave and P.B. Musgrave, Public Finance in Theory & Practice, McGraw
Hill Publications, 5th edition, 1989.
4. Amaresh Bagchi (ed), Readings in Public Finance, OUP
5. J. E. Stiglitz. Economics of Public Sector,W. W Norton and Company, 3rd Edition,
2000.
6. A Ghosh and C. Ghosh, Economics of the Public Sector, Prentice Hall India Learning
Private Limited; 2nd Revised edition (2014)

Economics Syllabus/ CCF/ CU Page: 59

 Economics Syllabus/ CCF/ CU

26 Rural Development
26.1 Understanding Rural India
7 lecture hours

Basic Elements of Rural Development

Growth versus Development

Why Rural Development

Rising Expectations and Development

Development and Change

26.2 Rural Economy of India

8 lecture hours

Size and Structure of the Rural Economy - Population & resources

The Characteristics of the Rural Sector

The Role of the Agricultural Subsector

The Role of the Non-agricultural Subsector

Challenges and Opportunities

26.3 Measures of Rural Development

8 lecture hours

Measures of Level of Rural Development: PQLI & HDI

Measures of Income Distribution: Lorenz Curve & Gini Coe¢ cient

Measures of Development Simpli…ed

Concepts and Measures of Rural Poverty: De…nition, Criteria, Measures

26.4 Rural Governance and Institutions

10 lecture hours

Panchayati Raj institutions and their role,

Rural Credit, NABARD, RRB,

Self-help groups (SHGs) and micro…nance,

Role of NGOs in rural development

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 Economics Syllabus/ CCF/ CU

26.5 Selected Government Programmes and Rural Development

12 lecture hours

Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA),

Pradhan Mantri Awas Yojana-Gramin (PMAY-G),

Mid-Day Meal Scheme (MDM),

National Rural Livelihoods Mission (NRLM),

National Rural Health Mission (NRHM),

Pradhan Mantri Gram Sadak Yojana (PMGSY)

References

1. Katar Singh , Rural Development: Principles, Policies and Management, Sage Publica-
tions, New Delhi.

2. K.G. Karmakar, Rural Credit and Self-Help Groups, Sage Publications, New Delhi

3. S.Sau, Rural Industrialization –Development Trajectory in India, Farma K.L.M., Kolkata

4. Misra D. and Puri K. Indian Economy, Himalaya Publishing House

5. Datt and Sundharam (Revised by G.Datt and A. Mahajan), Indian Economy, 70th edition,
S. Chand

6. Udai Pareek, Rural Development: Planning and Implementation

Other References:

Reports and Publications: Government of India publications, such as those from NITI
Aayog, Ministry of Rural Development, and Planning Commission, o¤er valuable insights
into rural development policies and programs.

Government Websites: Websites of ministries and departments related to rural develop-

ment (e.g., Ministry of Rural Development, NITI Aayog) o¤er data, reports, and policy
documents.

Tutorial
Marks: 25, Credit: 1
No. of Lecture hours (Tu): 15

Mode of Tutorial Examination: Presentation (15 Marks) & Viva (10 Marks).

Tutorial contact hours: 15 [for Revision, Doubt Clearing, Solving Problems]

Tutorial classes are introduced per course to give the students an idea of detailed un-
derstanding of the course and also to build their con…dence on the subject in terms of
(i) solving problems, (ii) presenting a paper in terms of board work or power point,(iii)
preparation of term paper etc.

A Tutorial class also helps a teacher to clarify any topic in detail to the students.

A Tutorial contact hour has been meant to promote teacher-student academic interaction.

Economics Syllabus/ CCF/ CU Page: 61