PAPER – I
PART - A
Unit I
Advanced Micro Economics:
(a) Marshallian and Walrasiam Approaches to Price determination, Consumer’s Behaviour
(b) Alternative Distribution Theories: Ricardo, Kaldor, Kaleski
Markets Structure: Monopolistic Competition, Duopoly, Oligopoly, perfect competition.
Unit II
(a) Modern Welfare Criteria: Pareto Hicks & Scitovsky, Arrow’s Impossibility Theorem
(b) A.K. Sen’s Social Welfare Function.
Advanced Macro Economics:
Unit II Approaches to Employment Income and Interest Rate determination:
Classical, Keynes (IS-LM) curve.
Unit IV Neo classical synthesis New classical Theories of Interest Rate determination and Interest Rate Structure.
PART - B
Unit I Money - Banking and Finance:
(a) Demand for and Supply of Money: Money Multiplier Quantity Theory of Money (Fisher, Pigoue and Friedman) and Keyne’s Theory on Demand for Money, Goals and Instruments of Monetary Control. Role and functions of Commercial Banks and Credit creation by Commercial Banks. Role of Central Bank in Controlling Money and Credit determination of growth rate of money supply.
(b) Public Finance and its Role in Market Economy: Meaning and scope of Public Finance, Public v/s Private Finance. Sources of Govt. revenue, forms of Taxes and Subsidies, their incidence and effects. Limits to taxation, loans, crowding-out effects and limits to borrowings. Public
Expenditure and its effects.
Unit II International Economics:
(a) Old and New Theories of International Trade
(b) Forms of Protection: Tariff and quota.
(c) Balance of Payments Adjustments: Alternative Approaches.
Growth and Development:
Unit III
(a) (i) Theories of growth: Harrod’s model,
(ii) Lewis model of development with surplus labour
(iii) Balanced and Unbalanced growth,
(iv) Human Capital and Economic Growth.
(v) Research and Development and Economic Growth
(b) Process of Economic Development of Less developed countries: Theories of Economic Transition Myrdal and Kuznets, Collin-Clark, Lewis on economic development and structural change: Role of Agriculture in Economic Development of less developed countries.
Unit IV (a) Economic development and International Trade and Investment, Role of
Multinationals.
(b) Planning and Economic Development: changing role of Markets and
Planning, Private-Public Partnership
(c) Welfare indicators and measures of growth – Human Development
Indices. The basic needs approach.
(d) Development and Environmental Sustainability – Renewable and Non Renewable Resources, Environmental Degradation, Intergenerational equity development. Environment and Economy linkage.
PAPER – II
PART - A
Unit I Indian Economy in Pre-Independence Era:
Land System and its changes, Commercialization of agriculture, Drain theory,
Laissez faire theory and critique. Manufacture and Transport: Jute, Cotton,
Railways, Money and Credit.
Indian Economy after Independence: The Pre Liberalization Era:
Unit II
(i) Contribution of Vakil, Gadgil and V.K.R.V. Rao.
(ii) Agriculture: Land Reforms and land tenure system, Green Revolution and capital formation in agriculture,
Unit III
(i) Industry : Trends in composition and growth, Role of public and private sector, Small scale and cottage industries.
Unit IV
(i) National and Per capita income: patterns, trends, aggregate and Sectoral composition and
(ii) changes their in. Broad factors determining National Income and distribution, Measures of poverty, Trends in poverty and inequality.
PART - B
Indian Economy after Independence: The Pre Liberalization Era: The Post Liberalization Era:
Unit I
(i) New Economic Reform and Agriculture: Agriculture and WTO, Food processing, Subsidies,
Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth.
(ii) New Economic Policy and Industry: Strategy of industrialization, Privatization, Disinvestments,
Role of foreign direct investment and multinationals.
Unit II
(i) New Economic Policy and Trade: Intellectual property rights: Implications of TRIPS,
(ii) TRIMS, GATS and new EXIM policy. New Exchange Rate Regime: Partial and full convertibility, Capital account convertibility.
Unit III
(i) New Economic Policy and Public Finance: Fiscal Responsibility Act, Twelfth Finance
(ii) Commission and Fiscal Federalism and Fiscal Consolidation.
New Economic Policy and Monetary system. Role of RBI under the new regime.
Unit IV
(i) Planning: From central Planning to indicative planning, Relation between planning and markets for growth and decentralized planning: 73rd and 74th
Constitutional amendments.
(ii) New Economic Policy and Employment: Employment and poverty, Rural wages, Employment Generation, Poverty alleviation schemes, New Rural,
Employment Guarantee Scheme
