DEPARTMENT OF ECONOMICS P.G. PROGRAMME SYLLABUS Batch I SEMESTER A. D. M. COLLEGE FOR WOMEN NAGAPATTINAM

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1 DEPARTMENT OF ECONOMICS P.G. PROGRAMME SYLLABUS Batch I SEMESTER A. D. M. COLLEGE FOR WOMEN NAGAPATTINAM

2 PEA SEMESTER I CORE COURSE I ADVANCED MICRO ECONOMIC THEORY I Internal: 25 Instruction Hours: 6 External : 75 Exam Hours: 3 Credit: 5 OBJECTIVES: 1. To make the students aware of application and different theories in Micro Economics 2. To highlight the practical applications of economic theories in day to day life. UNIT I : DEMAND ANALYSIS 20 hrs Indifference curve Meaning - Characteristics Revealed preference Theory - Hicksian Reformulation theory - Characteristics of Goods Approach Consumer choice Involving Risk (N.M hypothesis) Friedman Savage, Markowitz Hypothesis. UNIT II: THEORY OF PRODUCTION 15 hrs Multi- product firm, Elasticity of substitution -Euler s theorem Technical progress of production function, Cobb-Douglas, CES production function. UNIT III: PRODUCT PRICING I 20 hrs Perfect competition Short run and Long run Equilibrium of the firm and industry, Monopoly Short run and Long run equilibrium, Price discrimination Monopolistic competition General approaches to equilibrium Product differentiation and selling cost Excess capacity under monopolistic and imperfect competition. UNIT IV: PRODUCT PRICING II 20 hrs Oligopoly Non collusive Cournot, Bertrand, Edgeworth, Chamberlin, Kinked Demand curve and Stack berg s solution and Collusive, Monopsony and Bilateral Monopoly. UNIT V: NEO CLASSICAL THEORY OF FIRM 15 hrs Neo - classical theory of firm Marginal Pricing - Hall and Hitch - Full cost pricing, Average cost pricing, Mark-up rule, Bain s limit Pricing Theory.

3 TEXT BOOKS: 1. M.L. Jhingan - Modern Micro Economics Vrinda Publication, Private Limted 2. S. Sankaran Micro Economics, Margham Publications, Madras 3..M.L Seth - Micro Economic theory ( Lakshmi Narain Agarwalco., Agra) 4. H.L Ahuja - Advanced Economic Theory. S Chand and co., Ltd., Ram Nagar, New Delhi 5. P.N. Chopra - Advanced Economic Theory REFERENCES: 1. Waston - Price theory and uses (scientific book Co., Calcutta) 2. G.Stigler - Theory of prize (4 th edition prentice hall of India, New Delhi. 3. Koutsyiannis - Modern Micro Economics (Macmillan press, London) 4. Salvatore, Domlnick - Micro Economic, theory Mc.Graw Hill, New Delhi 5. D.N. Dwivvedi - Micro Economic Theory, Vikas publishing house private limited, New Delhi.

4 SEMESTER I CORE COURSE II MACRO ECONOMIC THEORY AND POLICY - I Internal: 25 Instruction Hours: 6 External : 75 Exam Hours: 3 Credit: 5 Objectives: 1. To make the students aware of the concepts of macro economics 2. To develop skill in evaluating the macroeconomic policies RPEB UNIT I: CONCEPTS OF MACRO ECONOMIC ANALYSIS Macro Economic Concepts Stock Flow - Nature and Scope of Macro Economics -Importance and Limitations - Macro Economic Analysis Statics Comparative Statics and Dynamic Analysis. UNITII: NATIONAL INCOME ACCOUNTING National Income Accounting- Definition- Concepts and components- Methods of measuring National Income - Difficulties in Calculation- Circular flow model Two, Three, Four Sector Economy- Social Accounting - Input-output Accounts, Circular flow of fund Accounting and Balance of Payment Accounts. UNIT III: CLASSICAL AND KEYNESIAN THEORIES OF EMPLOYMENT 18hrs Classical Theory of Employment - Assumptions- Say s Law of Market Criticisms of classical theory - Keynes theory of employment and output Aggregate supply function Aggregate demand function Effective demand Comparison and contrast Between classical and Keynes s Theory. UNIT:IV CONSUMPTION FUNCTION AND THEORIES 18hrs Consumption function Keynes Psychological Law - Determinants of Consumption Short and Long run Consumption Functions Theories - Absolute Income Hypothesis, Relative Income Hypothesis, Permanent Income Hypothesis, Life Cycle Hypothesis. UNIT : V MODERN MACRO ECONOMICS 18hrs Rational Expectations Hypothesis New Classical Macro Economics Labour Market Goods Market - Policy Implications.

5 TEXT BOOKS: 1. K.K.Dewett - Economics of growth and development 2. Kuznets - Modern Economic Growth 3. Krishna Chandra - The classical Theory of Economic Growth 4. M.L. Jhingan - Economic Development and Planning 5. D.N.Dewetty - Macro Economic Theory REFERENCE: 1. Behrman S.& T.N.Srinivasan - Hand book of development Economics 2. Chenery H & T.N. Srinivasan - Hand book of development Economics 3. Todaro M.P - Economic Development 4. Misra and Puri - Development and planning theory and Practice

6 SEMESTER I CORE COURSE III CONTRIBUTIONS OF NOBEL LAUREATES RPEC Internal: 25 Instruction Hours: 6 External : 75 Exam Hours: 3 Credit: 5 Objectives: 1. To enable the students to understand about the Nobel laureates in Economics 2. To know about their economic contributions in detail. UNIT I:- PAUL A.SAMUELSON AND SIR JOHN HICKS Theory of Revealed preference Business cycle social welfare function utility possibility approach. Main Economic ideas Consumer equilibrium Revision of Demand Theory Consumer s Surplus General equilibrium Economic Dynamics - Stationary state Theory of Trade cycle welfare economics. UNIT - II :- MILTON FRIEDMAN Quantity Theory of Money Demand Functions Permanent Income Hypothesis Savage Hypothesis. UNIT III:- AMARTHYA SEN Poverty And Famines Poverty And Inequality Concept of Capability Entitlement - Choice of Technique Time Series Criteria. UNIT IV :-ROBERT A MUNDELL Theory of International Trade Open Macro Economy - Optimum Currency Area Argument Monetary Approaches to the Balance of Payment Macro Economics Fiscal Monetary Mixtures and the Assignment Rule UNIT V:- RECENT NOBEL LAUREATES AND THEIR CONTRIBUTION Paul Krugman, Elinor Ostrom, Angus Deaton & Oliver Hart Bengt Holmstrom. TEXT BOOKS:- 1. Bell J.F - A History of Economic Thought 2. Newman P.C. - Development of Economic Thought 3. Jhingan M.L - History of Economic Thought(vrinta publications ) Lokanathan - History of Economic thought REFERENCES:- 1. Schumpeter - Ten great Economists 2. Cole G.D.H - History of Socialist Thought 3. Leckachman R. - A Histor

7 PED SEMESTER I CORE COURSE IV MATHEMATICAL METHODS FOR ECONOMIC ANALYSIS Internal: 25 Instruction Hours: 6 External : 75 Exam Hours: 3 Objectives: Credit: 5 1. To create the awareness among the students about the concepts and techniques 2. To inculcate the application of Mathematical Techniques in Economics. UNIT I : BASIC CONCEPTS 18hrs Constants, Variables, Parameters, Coefficient, Functions Inverse, General and Specific Functions Types of Functions - Linear and Non linear. Uses of Mathematics in Economics. (Only Theory). UNIT II: DIFFERENTIAL CALCULUS Differentiation Definition, sign of Derivatives, Rules of Differentiation Basic rule, power rule, power of power rule, Addition and Subtraction rule and Quotient rule. Differentiation of Simple Functions Like y = 5x 3 10x 2 + x 100. (No Logarithmic, Exponential and Trigonometric functions). Partial derivatives only for two variables, Higher order derivatives up to second order for the functions like Z =f ( x, y) =10x 3 y 2 5x 2 y + 6x 11y Simple problems. UNIT III: MATRIX ALGEBRA Matrix Definition Types, Addition and Subtraction of 2 or more matrices, Scalar multiplication of a matrix, Multiplication of 2 matrices, (up to 3x3 order ) Singular matrix, Non Singular matrix, Uses of matrices Simple problems. UNIT IV: SOLVING SIMULTANEOUS EQUATIONS Determinants Definition, Minors and Co-factors of each element of a determinant (Simple problems. No properties of determinants ). Solving simultaneous equations using Cramer s rule up to 3x3 order Simple problems. UNIT V: INPUT - OUTPUT MODEL Leontief s Input Output model Definition, Assumptions, Input Output Transaction Matrix, Closed and Open Input Output models, Uses of Input Output model, Limitations of Input Output model (Only theory).

8 TEXT BOOKS: 1.Chiang,AC -Fundamental methods of mathematical Economics MC Graw Hill, New Delhi 2.Metha BC and MadnaniG.M.K -Mathematics for Economists, Sultan Chand & Sons Publisher, New Delhi. REFERENCES: 1.Allen R.G.D -Mathematical Analysis of Economist,Macmillan press and ELBS,Landon(2008) 2.Dr.Agarwal H.S -A mathematical approach to Economic Theory Lakshmi Narayana Agarwal, Educational publications,agra.(2001) 3.Badal Mukherji and pandit -Mathematical Methods for Economic Analysis, Allied Publisher Pvt., New Delhi.

9 SEMESTER I ELECTIVE COURSE I INDIAN ECONOMIC PROBLEMS Internal: 25 Instruction Hours: 6 External : 75 Exam Hours: 3 Credit: 5 PEE1 Objectives: 1. Make the students to understand about various sectors and their development in Indian Economy. 2. Prepare the Students to Know about planning and financial sector reforms in India UNIT I : DEMOGRAPHIC FEATURES 18hrs. Broad demographic features - Rural Urban Migration; Urbanization Environment Regional Imbalance; Issues and Policies in Financing Infrastructure Development-Social Economic Problem. UNIT II: AGRICULTURAL SECTOR. Institutional Structure Land reforms in India; Technological change in agriculture Pricing of agricultural inputs and outputs; Terms of Trade between Agriculture and Industry : Agricultural finance policy; Concepts in food security Policies for sustainable agriculture. UNIT III: INDUSTRIAL SECTOR. New Industrial policy; Public sector entrepreneurs and their performance; problems of sick units in India; Privatization and disinvestment debate; Small scale sector; productivity in industrial sector Issues in Labour market reforms Concepts of Medium and Small Enterprise Large Scale Industries Industrial Problems Measures. UNIT IV: PLANNING IN INDIA 18hrs. Recent plan in India Objectives and strategies Achievements and shortcomings Nidhi Ayog - Poverty - Inequality - Unemployment. UNIT V: ECONOMIC REFORMS. Globalization of Indian Economy; W.T.O. and its impact- Impact of Economic Reforms on Indian Economy FDI and FII - Banking and Financial Sector Reforms Global Economic Crisis and Indian Economy.

10 TEXT BOOKS: 1.Dutt, Ruddar & - Indian Economy, Sultan Chand & CO., New Delhi K.P.M. Sundaram 2 Dr..S.Sankaran - Indian Economy(Margam publications 2015) References: 1.Brahnananda, P.R and - Development Experience in the Indian Economy inter V.R. Panchmukhi (Eds) State Perspectives, Book well, Delhi. 2.Dantwala M.L (1996), - Dilemnas of Growth The Indian Experience Saga Publications, New Delhi. 3.Dutt, Ruddar & - Indian Economy, Sultan Chand & CO., New Delhi K.P.M. Sundaram (2000) 4. Jalan. B (1992) - The Indian Economy Problems & Prospects New Delhi. 5 UNDP REPORTS