DRAFT SYLLABUS

DEPARTMENT OF ECONOMICS
DEBRAJ ROY COLLEGE (Autonomous)
FYUGP 2024
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PREAMBLE

The Undergraduate (UG) syllabus in Economics, aligned with the New Education
Policy (NEP) 2020, includes various components like Major (Core) disciplines, Minor
disciplines, Multi-Disciplinary Generic Elective Courses (MDGEC), Ability Enhancement
Courses (AEC), Value Added Courses (VAC), Skill Enhancement Courses (SEC), Research
Project, Dissertation, and Discipline-Specific Electives (DSE).

AIM OF THE PROGRAM

The U.G. Program in Economics aims to develop analytical, logical, and critical
thinking skills for the practical application of economic reasoning. It prepares students for
business, government, industry, commerce, finance, and research careers, covering many
theoretical and practical topics. It also aims to broaden the knowledge in interdisciplinary
subjects like mathematics, statistics, business, sociology, and history, enabling real-world
applications. The program enhances the ability to switch between academic disciplines,
fostering economic thinking and social responsibility.

GRADUATE ATTRIBUTES

 Disciplinary Knowledge: Demonstrate a thorough understanding of Economics,

linking relevant disciplines and modern innovations.
 Communication Skills: Effectively use mathematics, statistics, and econometrics in
Economics; communicate complex information.
 Moral and Ethical Awareness/Reasoning: Address ethical issues with integrity and
honesty.
 Multicultural Competence: Collaborate with diverse backgrounds and possess a global
perspective.
 Information/Digital Literacy: Utilise ICT tools effectively and apply computational
methods.
 Reflective Thinking: Formulate inquiries and interpret findings to solve economic
problems.
 Cooperation/Team Work: Work effectively in diverse teams toward common
objectives.
 Research-Related Skills: Develop research methodology and present findings using
interdisciplinary knowledge.
 Problem Solving: Independently conduct research and address real-world challenges.
 Critical Thinking: Analyse problems, acquire knowledge through logical reasoning, and
maintain a lifelong learning outlook.
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PROGRAMME SPECIFIC OUTCOMES

Students should be able to:

 Understand economic agent behaviour and theoretical applications.

 Grasp Microeconomics and Macroeconomics basics.
 Apply mathematical and statistical methods in economics.
 Measure development to understand poverty and inequalities from an Indian perspective.
 Learn historical economic thoughts from different schools.
 Review developmental issues and sector-specific policies of the Indian Economy.
 Contribute academically and pursue advanced studies in Economics.
 Innovate approaches to address unresolved economic issues.
 Use economic models for predictions and estimations.

TEACHING LEARNING PROCESS AND METHODS INCLUDE

 Lectures
 Tutorials
 PowerPoint presentations
 Project Work/Dissertations
 Group Discussions and debates
 Seminars/workshops/conferences
 Field visits and reports
 Mentor/Mentee interactions
 Teaching Learning Tools

 Projector
 Smart Television
 LCD Monitor
 White/Green/Black Board

ASSESSMENT METHODS

 Home assignments
 Project reports
 Class presentations (Oral/Poster/PowerPoint)
 Group Discussions
 In-semester examinations
 End Semester examinations
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DRAFT STRUCTURE OF FOUR YEAR UNDER GRADUATE

PROGRAMMES (FYUGP) IN ECONOMICS,
Debraj Roy College (Autonomous)
Course No. of Course Name of the Credit Remarks
(Lecture+Tutorial+Practical) Cours Code Course
(L+T+P) es
Major (Core) 1 ECO- Introductory 4 -
MAJ- Microeconomic
101 s
Minor 1 ECO- Elementary 4 The course shall
MIN- Microeconomic be taken by
101 s students from
disciplines other
than Economics
Multi- Disciplinary Generic 1 ECO- Fundamentals 3 The course shall
Elective Course: Natural GEC- Of be taken by
Science –I/ Social 101 Microeconomic students from
Science/Humanities- s disciplines other
I/Commerce-I than Economics
AEC Language (MIL/Regional 1 As As offered 4 Students shall
Language) offered have to take one
of the language
disciplines
offered by
Debraj Roy
College
(Autonomous)
Value Added Course-1 1 As As offered 2 Students shall
Understanding India offered have to take the
course offered by
Debraj Roy
College
(Autonomous)
Value Added Course -2Health 1 As As offered 2 Students shall
and Wellness offered have to take the
course offered by
Debraj Roy
College
(Autonomous)
Skill Enhancement Course 1 ECO- Basics Of 3 Students shall
SEC- Personal Finance have to take the
101 course offered by
Debraj Roy
College
(Autonomous)
Total 22
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B.A./B.Sc. IN ECONOMICS PROGRAMME (NEP)

DETAILED SYLLABUS OF 1ST SEMESTER

Course Title : Introductory Microeconomics

Course Code : ECO-MAJ-101
Nature Of Course : Major
Semester: : Semester-1
Total Credits : 4 credits
Distribution of Marks : 60 (End-Sem.) + 40 (In-Sem.)
Pass Marks : 40% (In each End-Sem and In-Semester Separately)
Total Hours : 60

Unit-1:
Exploring the Subject Matter of Economics: Why Study Economics? Nature and scope of
economics, Problem of scarcity and choice, Types of Microeconomic Analysis, Positive
Economics vs normative economics, economic problems, Economic Models, meaning,
features of economic models, basic Competitive model, Economic Systems: Free Market
Economy, Socialistic Economy and Mixed Economy.
Marks-12; L-9,T-3 ,H-12
Unit-2
Demand and Supply: Definition of market and types of markets, Demand and Supply-
Determinants, Demand and Supply Schedule; Demand curve vs supply curve, individual vs
market demand and Supply, Market Equilibrium, Elasticity of Demand and supply; different
types, effect of taxation on demand and Supply; consumer surplus; producer surplus and
efficiency of the Markets, concept of Deadweight Loss.
Marks-12; L-9,T-3 ,H-12

Unit-3
Consumer's Choice and Household Behavior: Cardinal utility and Ordinal Utility;
Indifference Curve: Concept and properties of in difference curves; The consumption
decision: budget constraint and consumer equilibrium, Optimum choice; price, income and
substitution effects of normal, inferior and Giffen goods, derivation of demand curve from
indifference curve.
Marks-12; L-9,T-3 ,H-12
Unit-4
Cost and Theories of Cost: The behaviour of profit maximizing firms: Short-Run Costs vs
Long Run Costs, Total Cost, Average Cost, Marginal Cost. Relationship between MC and
A.C., Shutdown Point. Long Run Costs: Traditional vs Modern theories of cost. Concept of
Economies of Scale, Diseconomies of Scale, Returns to Scale.
Marks-12; L-9,T-3 ,H-12
Unit-5
Input Markets: Overview of input markets and their significance in the Economy;
Marginal Productivity Theory of Distribution, Labour: wage and determinants of wage,
Marginal Product of Labor (MPL), Capital: Interest concepts, Land market-Determination of
rent, Quasi rent, Ricardian Rent, Organization: Modern Theory of Profit, Risk-Bearing and
Innovation Theories: Schumpeter's theory of innovation.
Marks-12; L-9,T-3 ,H-12
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Suggested Readings:
 Pindyck, Robert S., and Daniel L. Rubinfeld. "Microeconomics." Pearson Education.
 Varian, Hal R. "Intermediate Microeconomics: A Modern Approach." W.W. Norton
& Company.
 Mankiw, N. Gregory. "Principles of Microeconomics." Cengage Learning.
 Kreps, David M. "A Course in Microeconomic Theory." Princeton University Press.
 Nicholson, Walter, and Christopher M. Snyder. "Microeconomic Theory: Basic
Principles and Extensions." Cengage Learning.
 Katz, Michael L., and Harvey S. Rosen. "Microeconomics." McGraw-Hill Education.
 Perloff, Jeffrey M. "Microeconomics: Theory and Applications with Calculus."
Pearson.
 Frank, Robert H. "Microeconomics and Behavior." McGraw-Hill Education.
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Course Title : Elementary Microeconomics

Course Code : ECO-MIN-101
Nature Of Course : Minor
Semester: : Semester-1
Total Credits : 4 credits
Distribution of Marks : 60 (End-Sem.) + 40 (In-Sem.)
Pass Marks : 40% (In each End-Sem and In Semester Separately)
Total Hours : 60

Unit-1
Introduction to Economics: Microeconomics: meaning, nature and scope, opportunity cost,
production possibility frontier, Positive Economics vs normative economics; the economic
problems, Economic Systems: Free Market, Socialistic, and Mixed Economy.
Marks-12; L-9,T-3 ,H-12
Unit-2
Consumer's Choice and Demand: The basis of choice: utility, diminishing marginal utility,
utility-maximizing rule, Equi Marginal Utility, Indifference Curve Analysis, income and
substitution effects.
Marks-12; L-9,T-3 ,H-12
Unit-3
Demand and supply: Demand and supply: law of demand, determinants of demand, shifts of
demand versus movements along a demand curve, market demand, law of Supply,
determinants of Supply, shifts in Supply versus movements along a supply curve, market
supply, market equilibrium; Applications of demand and Supply: consumer surplus, producer
surplus; Elasticity: price elasticity of demand; types of elasticity; different methods of
calculating elasticities;
Marks-12; L-9,T-3 ,H-12
Unit-4
Theory of Production and Cost: Production functions have one variable input and two
variable inputs, isoquant and iso-cost lines, and cost-minimizing equilibrium conditions.
Economic costs: Short-run Costs, Long run costs, revenue and profit maximizations, short-
run industry supply curve, economies and diseconomies of scale
Marks-12; L-9,T-3 ,H-12
Unit-5
Theory of the firm: price and output determination: The firm and Industry; market
models: perfect competition, monopoly, monopolistic, oligopoly; price and output
determination under different market conditions.
Marks-12; L-9,T-3 ,H-12
Suggested Readings:
 Pindyck, Robert S., and Daniel L. Rubinfeld. "Microeconomics." Pearson Education.
 Varian, Hal R. "Intermediate Microeconomics: A Modern Approach." W.W. Norton
& Company.
 Mankiw, N. Gregory. "Principles of Microeconomics." Cengage Learning.
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Course Title : Fundamentals of Microeconomics

Course Code : ECO-GEC-101
Nature Of Course : GEC
Semester: : Semester-1
Total Credits : 3 credits
Distribution of Marks : 60 (End-Sem.) + 40 (In-Sem.)
Pass Marks : 40% (In each End-Sem and In Semester Separately)
Total Hours : 60

Unit-1
Fundamental Concepts: Economics: Meaning, nature and scope, Microeconomics vs
Macroeconomics, Problem of scarcity and choice and opportunity cost; production possibility
frontier; Economic Systems.
Marks-15; L-8,T-3 ,H-11

Unit-2
Consumer Theory: Concept of utility, diminishing marginal utility, indifference curves,
Properties, budget constraint and Consumer equilibrium.
Marks-15; L-7,T-3 ,H-10
Unit-3
Demand and Supply: Meaning of Demand and Supply, Determinants, law of demand, shifts
in demand versus movements along a demand curve, market demand, law of Supply, shifts in
Supply curve versus movements along the supply curve, market supply, market equilibrium.
Marks-15; L-9,T-3 ,H-12
Unit-4
Production and Costs: Production process, production functions, law of variable
proportions, choice of technology, isoquant and iso-cost lines, cost-minimizing equilibrium
condition. Costs: short-run costs, long run Costs, revenue and profit maximizations, industry
supply curve, economies and diseconomies of scale
Marks-15; L-9,T-3 ,H-12

Suggested Readings:
 Pindyck, Robert S., and Daniel L. Rubinfeld. "Microeconomics." Pearson Education.
 Varian, Hal R. "Intermediate Microeconomics: A Modern Approach." W.W. Norton
& Company.
 Mankiw, N. Gregory. "Principles of Microeconomics." Cengage Learning.
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COURSE TITLE : BASICS OF PERSONAL FINANCE

COURSE CODE : ECO-SEC-101
NATURE OF COURSE : SEC
SEMESTER: : SEMESTER-1
TOTAL CREDITS : 4 CREDITS
DISTRIBUTION OF MARKS : 60 (END-SEM.) + 40 (IN-SEM.)
PASS MARKS : 40% (IN EACH END-SEM AND IN
SEMESTER SEPARATELY)
TOTAL HOURS : 60

Unit 1:
Introduction to Personal Finance: Definition and importance of personal finance, Goals of
personal financial planning, Steps in the financial planning process.

Personal Success vs the Economy: The Concept of Business Cycle; Inflation Advantages
and Disadvantages Concept of Simple Interest and Compound Interest, Opportunity Costs.
Marks-12; L-9,T-3 ,H-12
Unit-2
Saving and Investing: Basics of Saving and investment; Importance of saving; Types of
savings accounts and fixed deposits, Strategies to maximize savings; Different types of
investments: stocks, bonds, mutual funds, real estate; Risk and return analysis; Importance of
budgeting; Developing and managing a personal budget
Marks-12; L-9,T-3 ,H-12

Unit-3
Understanding Debt: Types of Debt: good Debt vs. bad Debt; Managing and reducing Debt;
Impact of Debt on financial health. Microfinance and self-help group: Meaning, types,
importance and problems.
Marks-12; L-9,T-3 ,H-12

Unit-4
Insurance and Risk Management: Basics of Insurance: Types of insurance: Life, Health.,
Property, Different Government Insurance Schemes, Benefits of having insurance; How to
choose the right insurance policy.
Marks-12; L-9,T-3 ,H-12
Unit-5
Tax Planning: Different types of tax; Direct tax vs Indirect tax; GST; Basics of income tax
in India; Different types of Income; Gross total income, Taxable Income, Assessment Year,
Previous year; Tax-saving investment options; Planning for tax efficiency
Marks-12; L-9,T-3 ,H-12

Suggested Readings:
 Madura, Jeff. "Personal Finance." Pearson.
 Kapoor, Jack R., Les R. Dlabay, and Robert J. Hughes. "Personal Finance." McGraw-
Hill Education.
 Gitman, Lawrence J., Michael D. Joehnk, and Randy Billingsley. "Personal Financial
Planning." Cengage Learning.
 Keown, Arthur J. "Personal Finance: Turning Money into Wealth." Pearson.
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 Garman, E. Thomas, and Raymond E. Forgue. "Personal Finance." Cengage

Learning.
 Walker, Robert, and Kristy Walker. "Personal Finance for Dummies." Wiley.
 Ryan, Joan S. "Personal Financial Literacy." Cengage Learning.
 Block, Stanley B., Geoffrey A. Hirt, and Bartley R. Danielsen. "Foundations of
Financial Management." McGraw-Hill Education.
 Madura, Jeff. "Personal Finance." Pearson.
 Kapoor, Jack R., Les R. Dlabay, and Robert J. Hughes. "Personal Finance." McGraw-
Hill Education.
 Gitman, Lawrence J., Michael D. Joehnk, and Randy Billingsley. "Personal Financial
Planning." Cengage Learning.