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Saturday, January 1, 2011

M.A. Economics

Syllabus for PG Entrance in Economics at Department of Economics University of Kashmir w.e.f session-2013

Unit I: Some Basic concepts
Introduction to Number System: Gradient and Equation of Straight Line; Parabola; Rectangular Hyperbola; Types of Equation, Functions—Different Function in Economics; Derivatives and their evaluation; Rules of Differentiation; Marginal Concepts and Elasticities.

Unit II: Measures of Central Tendency and Dispersion
Measures of central tendency— Arithmetic Mean, Median, Mode, Geometric Mean Measures of dispersion— Mean Deviation, Standard Deviation, Coefficient of Variation, Coefficient of Skewness Karl Pearson’s Method, Coefficient of Skewness based on moments;

Unit III: Economic Development: Concept, Measurement and theories;
Concept of economic growth and development; Sustainable development; Characteristics of an under-developed country; Measurement of development— GNP, PCI, PQLI and HDI. Classical theory of economic development; Marxian theory; Schumpeter’s theory; Nurks’s theory of disguised unemployment; Rostow’s stages of economic growth; Big-Push theory.

Unit IV: Trade, Choice of Techniques and Development Planning
Role of International trade in economic development; Labour intensive technique and capital intensive technique; Meaning of economic planning; Need for planning in Under-developed countries; Centralized and decentralized planning;

Unit V: Consumer and producer Behavior
Cardinal utility, Consumer’s equilibrium; Ordinal utility, Indifference curve, Marginal rate of substitution, Properties of indifference curves, Budget line, Consumer’s equilibrium; Elasticity of Demand— Price, income and cross elasticity. Production function—Homogeneous and linear homogeneous production functions; Law of variable proportions; Returns to scale; Isoquants, Marginal rate of technical substitution, Properties of isoquants, Iso-cost line, Equilibrium of a firm, Expansion path.

Unit VI: Market Structure and Factor Pricing
Short-run and long-run equilibrium of a firm and industry under perfect competition and monopoly; Monopolistic competition. Duopoly and Oligopoly Distribution— Concept, Marginal productivity theory of distribution; Wages— Modern theory of wages, Wage differentials; Rent—Ricardian Theory; Profits— innovation and dynamic Theory; Keynesian theory of interest.

Unit VII: Indian EconomyAgriculture Development and Industrial Performance
Natural Resource Potential; Trends in national income; Planning strategy and performance;
Agriculture— Trends in production and productivity; New agriculture strategy; Agriculture marketing and price policy. Review of industrial development during planning period— Public sector, private sector and joint sector; Industrial policy resolution— 1956 and 1991; MRTP Act; Competition Act 2002; FERA and FEMA; Disinvestment Strategy.

Unit VIII: Foreign Trade, Balance of Payments and J&K Economy
Foreign Trade upto 1990— Composition and direction, New economic reforms and growth of foreign trade, Changes in Composition and direction of foreign trade since 1991; Export-promotion measures; Foreign direct investment and balance of payments—Trends and magnitude; J&K Economy; Structural transformation; Role of forests and hydropower potential;; Land reforms; Industrial and tourism development; State finances.

Unit IX: National Income and Employment: Classical Theory
Concept of national income, Measurement of national income—various methods; Circular flow of income and expenditure— Two-sector, three-sector and four-sector model; Say’s Law of markets; Wage-Price flexibility and full employment; Classical Model—with and without saving and investment; Quantity theory of money

Unit X: Income and Employment (Keynesian Theory), Inflation and Business Cycles
Keynes’ criticism to Classical theory of income and employment; Keynes theory of employment— Aggregate supply and aggregate demand analysis; Money-wage rigidity; Consumption function— Absolute and relative versions; Factors influencing consumption; Inflation— Concept and types; Causes and consequences; Demand pull and cost push theory; Measures to control inflation. Business cycle— Concept and phases; Theories of business cycle— Monetary and over-investment theory.

Unit XI: Concept and Role of Money, Financial Institutions and Markets
Money— Meaning, functions and kinds; Characteristics of good money; Gresham’s law; Role of money in mixed economy,. Commercial bank—Functions; Credit creation mechanism; Central bank—Functions; Quantitative and qualitative methods of credit control

Unit XII: Public Finance & International Trade
Public Finance— Meaning and scope; Distinction between public and private finance; Principle of maximum social advantage; Public expenditure— classification; Taxation— Types and incidence; Budget and its types; Inter-regional and international trade; Theories of Absolute and Comparative Advantage; Free trade vs protection; Tariffs and quotas— Partial equilibrium analysis; Balance of payments— Structure; Measures to correct disequilibrium in BOP.

Basic Reading List:

Quantitative Methods In Economics
1. Schaum’s Outline (2005), An Introduction to Mathematical Economics, Tata McGraw Hill, New Delhi.

2. R.G.D Allen (1974), Mathematical Analysis for Economists, Macmillan Press, London.
3. Elhance & Elhance (2009), Fundamentals of Statistics, Kitab Mahal, New Delhi.

Development Economics
1. A.P. Thirlwal (2003), Growth and Development, Macmillan Press Ltd., U.K.
2. Todaro & Smith (2005), Economic Development, Longman, London.
3. M.L. Jhingan (2006), The Economics of Development and Planning, Vrinda Publications, New Delhi.

1. A. Koutsoyiannis (2006), Modern Microeconomics, Macmillan Press Ltd, London.
2. D.N. Dwivedi (2007), Microeconomics, Tata McGraw Hill, New Delhi.
3. H.L.Ahuja (2007), Advanced Economic Theory— Microeconomic Analysis, S. Chand & Company, New Delhi.

Indian and J&k EconomyEconomy
1. Misra & Puri (2008), Indian Economy, Himalaya Publishing House, New Delhi.
2. Datt & Sundharam (2006), Indian Economy, S. Chand & Company, New Delhi.
3. Uma Kapila (2008), Indian Economy— Performance and Policies, Academic Foundation, New Delhi.
4. Jasbir Singh (1998), The Economy of J&K, Radhi Krishnan Anand & Co., Jammu (J&K).
5. Sadhu & Singh (1984), Jammu & Kashmir Economy, Trikuta Publishing House, Jammu (J&K).

1. Edward Shapiro (2008), Macroeconomic Analysis, Galgotia Publications, New Delhi.
2. D.N. Dwivedi (2007), Macroeconomics— Theory and Policy, Tata McGraw Hill, New Delhi.
3. H.L. Ahuja (2006), Macroeconomics— Theory and Policy, S. Chand & Company, New Delhi.

Money, Banking, Finance And International Trade
1. Frederic S. Miskin (1997), Financial Institutions and Markets, Addison Wesley, USA.
2. S.B. Gupta (2001), Monetary Economics, S. Chand & Company, New Delhi.
3. S.K. Singh (2004), Public Finance in Theory and Practice, S. Chand & Company, New Delhi.
4. Robert J. Carbaugh (2004), International Economics, Thompson Publishing Company, New York