Syllabus B.A. (Honours School) in Economics Part-Iii

SYLLABUS B.A. (HONOURS SCHOOL) IN ECONOMICS PART-III(Semester V and VI)7, 2017-18 & 2018-19 Session

SYLLABUS B.A. (HONOURS SCHOOL) IN ECONOMICS PART-III

(Semester V and VI)

2017-18 & 2018-19

Semester-V

Eco-501:Mathematics-V

Eco-502:Regional Economics

Eco-503:Development Economics-I

Eco-504:Comparative Economics System

Eco-505:Economic History of India

Eco-506:Punjabi/Punjabi Lazmi (Mudla Gian)

Semester-VI

Eco601:Mathematics-VI

Eco602:Punjab Economy

Eco-603:Development Economics-II

Eco-604:Current Issues in Global Economy

Eco-605:Current Issues in Indian Economy

Eco-606: Punjabi/Punjabi Lazmi (Mudla Gian)

Eco-607: Comprehensive Viva-Voce

SEMESTER-V

ECO-501: MATHEMATICS-V

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of three sections: A, B and C. Sections A and B will have four questions in each of the sections of the syllabus and will carry 7½ marks each. Section C will consist of 10 short-answer type questions which will cover the entire syllabus uniformly and will carry 20 marks in all. Each short answer question will carry 2 marks.

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

SECTION-A

Introduction: Nature, Scope and Methodology of Econometrics, Specification of an Econometric Model, Nature of data used in Estimation, Limitation of Econometrics, Elementary knowledge of the basic concepts: Dummy, lagged, exogenous, predetermined, independent, dependent, proxy & random variables. Comparisons between Econometrics and Economic theory. Single Equation Model: Ordinary Least Square Estimation.

Testing of Hypothesis: Basic Concept; Type I and Type II errors. Testing of Hypothesis. F, t, Z and χ2 tests.

SECTION-B

The General linear model in Matrix form. Estimation and properties of the estimators. Tests of significance of coefficients. Partial Correlation Coefficients. Multilinearity: Its detection and solution. Coefficient of determination.

Dummy Variables. The dummy variable trap. Interpretation of slope and intercept. Lagged Variables: Uses in economics. Estimation Problem, Koyck transformation. Estimation of demand function. Estimation of consumption function. Application of Dummy and Lagged variables in Forecasting.

BASIC READINGS

1.Johnson, J.: Econometrics Methods, 20, McGraw Hill, New York.

2.Gujarti, Damodar: Basic Econometrics, McGraw ill, New Delhi.

3.Goldberger, A.S.: Introductory Econometrics, Harvard University Press.

ECO-502: REGIONAL ECONOMICS

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

SECTION-A

Concept of Space and Region. Types of Region:homogeneous, nodal and programming. Regional Income Accounts and Social Accounting. Accounting for Underdeveloped Regions and Developed Open Regions.

Dualism and Balanced Regional Development. Convergence and Divergence. Regional Linkages spread and backwash effects. Regional Multipliers-the economic base type.

SECTION-B

Transportation and Location: Transport costs as a location factor. Weber's Theory of Location: locational and weight trainlges and minimization of transport costs. Coefficient of Localization, Localization Curves and Ratios, and Related Concepts.

Regional Allocation of Resources. Regional Investment Criteria.International Imbalances-Regional Income Inequalities in India.

BASIC READINGS

1.Harry W. Richardson:Regional Economics, Weidenfolod and Nicolson, London , 1976.

2.Walter Isard: Methods of Regional Analysis, The MIT Press, Massachusatts and London,England.

3.David Smith: Industrial Location: An Economic-Geographic Analysis, John Wiley, New York, 1971.

4.L. Needleman(ed.): Regional Economics, Penguin Books,Ltd., 1968.

5,Harvey Pari off, et al: Regions, Resources and Economic Growth, University Nabraska Press, Lincoln, USA.

6.Edgar M. Hover: An Introduction to Regional Economics New York, Alfred A. Knopf,2nd edition.

SEMESTER-V

ECO-503: DEVELOPMENT ECONOMICS-I

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

SECTION-A

Economics of Development: Need for Separate Study: Distinction between Economic Growth and Development. Measurement ofDevelopment:Per Capita Income. PQLI and HDI: Difficulties in Measurement and Comparison. Diverse Structure andCommon Characteristics ofDeveloping Countries.

Dualism: Sociological Dualism, Technological Dualism and Economic Dualism. Rostow's Stages of Growth. Population Growth and Development Process.

SECTION-B

Institutions and Factors in Economic Development: State, Aarket and Non-economic factors in Development. Role of Agriculture and Industry in Development. Complementarity of Agriculture and Industry in Development. Technology and Development.

External Resources in Economic Development: Foreign Capital; Foreign Direct Investment. Foreign Portfolio Investment and Foreign Aid. Contribution of Foreign Trade in Development.. Terms of Trade and Development.

BASIC READINGS

G.M. Meier & J.E. Rauch: Leading Issues in Economic Development, 7th Edition Oxford University Press, Oxford, 2000.
M.P. Todaro: Economic Development, 5th Edition, Longman, 1994.

Debraj Ray: Development Economics, Oxford University Press, Oxford, 1998.

Benjamin Higins: Economic Development, Central Book Depot, Allahabad.

Hollis Chenery and T.N. Srinivasan: Handbook of Development Economics, Vol. I and II, Amsterdam, 1985.

S.P. Gupta: Planning Models in India.

S.C. Chew and R.A. Denmark: The Underdevelopment of Development, Sage Publications, New Delhi, 1999.

A.P. Thirwal: Growth and Development, Macmillan Education Ltd., London, 1986.
Bo Sodersten: International Economics (Latest edition)

SEMESTER-V

ECO-504: COMPARATIVE ECONOMIC SYSTEM

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

SECTION-A

Economic System: Concept and Features; Mode of production and evolution of economic systems; Classification of social formations/economic system; Pre-capitalist economies/societies, Capitalism and Socialism.

Capitalism: Essence of Consumer's sovereignty; Private enterprise system and planning in Capitalism; Commodity Production, surplus value and capital (ist) accumulation; Capitalism and Imperialism.

SECTION-B

Socialism: Dialectical and Historical materialism; Contradictions of Capitalism and its breakdown; Basic pre-conditions for Socialism, its transition period, its main features; Transformation of production relations, ideas and institutions.

Planning and Market Mechanism: Role in a Capitalist, Socialist and a Mixed Economy; Development priorities, resource allocation, employment, income distribution and inequality/poverty; Nature of a Third World economy and its Class-diversion.

BASIC READINGS

Halm, George, N. : Economic System: A Comparative Analysis.
Louks, V.N. & Whitney,W.C.: Comparative Economic Systems.
Dalton, G.: Economic Systems and Society.
Willczynski, J.: Economics of Socialism.
Kozolv, G.A.: Political Economy of Socialism.
Lavigne.M.: Economics of East European Socialist Countries and USSR.
SEMESTER-V

ECO-505: ECONOMIC HISTORY OF INDIA

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

SECTION-A

Economy in the mid-nineteenth century. Colonial Exploitation:

Forms and consequences, Trends towards market economy, Growth of Railways and Canal Irrigation.

Agrarian Economy: Evolution of land tenure system, commercialization of agriculture, cause, consequences and its adjustment to colonial purpose. Changes in land utilization and cropping pattern.. Problem of rural indebtedness.

SECTION-B

Handicrafts: Decline of handicrafts. The Deindustrialization thesis, Industrial Policy, Industrial Growth in India.

Public Finance: Currency and Banking. Foreign Trade and Payments: The drain thesis, Commercial Policy, Foreign Capital and its role. Economic consequences of the British rule.

BASIC READINGS

D.R. Gadgill: The Industrial Evolution of India in Recent times. Oxford University Press, Deli, Chs. III, IV,VI, VII & XI, 1971
R.C. Dutt: The Economic History of India Under Early British Rule. Low Price Publications, Delhi.1950.
V.B. Singh (ed.): Economic History of India1857-1956.Allied Publications Private Limited, Bombay, 1965.
R. Dutt and K.P.M. Sundharm: Indian Economy S. Chand & Company Ltd., New Delhi,2000.

SEMESTER-V

ECO-506: Punjabi/Punjabi Lazmi (Mudla Gian)

Syllabus will be supplied by Punjabi Department

SEMESTER-VI

ECO-601: MATHEMATICS-VI

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

SECTION-A

The nature and Scope of Mathematical Economics, Ingredients of Mathematical Economics. Theory of Consumer Behaviour, Utility function-Behavioural postulates, nature and nature and existence, demand function, compensated demand function, ordinal and cardinal utility maximization, Slutsky equation for few and more commodities, revealed preference theory-the weak and strong order axioms.

Production Analysis: Homogeneous production functions, elasticity of substitution cobb-Douglas and CES production functions. Output and profit maximization, cost minimization, traditional and modern approach.

SECTION-B

Market Equilibrium: Price and output determination under perfect competition, monopoly and price discrimination, oligopoly and duopoly, the Counot-Nash equilibrium, Collusion and Stackleberg model.

Existence and uniquences of equilibrium, stalibility of equilibrium, dynamic equilibrium with lagged adjustment, the cobweb model. Multi-market equilibrium. Walras's and the existence of general equilibrium (without proof)

BASIC READINGS

Henderson, J.M. & Quandit, R.B. : Micro economics theory: A Mathematical Approach(3rd ed.), 1980
Allen, R.G.D.: Mathematical economics. 1974
Silbergberg, E : The structure of economics –A Mathematical Analysis 1978
Lancaster, V: Mathematical Economics 1965
Taka Yama A: Mathematical Economics 1974
Kogiku, kc: Micro economic models, 1971
Chiang, AC: Fundamentals Methods of Mathematical Economics (3rd ed.), 1984
Derfman, R., Samuelson, P. and Sallow, R: Linear programming and Economic Analysis, 1968

ECO-602: PUNJAB ECONOMY

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

Section- A

Economic structure: Agro Climatic Regions. Changing Patterns of Sectoral Division of State Income since 1966. Demographic Developments. Land- use Pattern and changes therein. Nature of urbanization.

Agriculture: Farm Output and cropping pattern, Inter-district Variations. Green Revolution; Major Successes and problems thereafter. Farm Credit System, Problems of Peasants and Farm Workers.

Section- B

Industry: Pattern and progress. Inter-district Industrial Disparities. Role of State & Financial Institutions. Industrial Labour and Employment Pattern, Problems and Potentials of Industrialization of Punjab.

State finances: Pattern of state Revenue and expenditure. Financial Dependence of State on the Union Government. Recent Resource Mobilization Efforts. Role of State in Economy

BASIC READINGS

1.Nirmal S. Azad (ed.): Punjab di Artikta, Punjabi University, Patiala, 1983.

2. R.S. Johar and J.S. Khnna: Studies in Punjab Economy, Guru Nanak Dev University, Amritsar, 1983.

3.Gopal Singh (ed.): Punjab Today Intellectual Publishing House, New Delhi.

4.Himmat Singh: Green Revolution Reconsidered: The Rural World of Contemporary Punjab, Oxford, New Delhi, 2001.

5.Sucha Singh Gill: Economic Development and Structural Change in Punjab, Principal Iqual Singh Memorial Trust, Ludhiana, 1994.

6.S.S. Johl & S.K. Ray: Future of Agriculture in Punjab, CRRID,Chandigarh, 2002.

7.G.K. Chadha: The State and Rural Economic Transformation: The Caste of Punjab, 1950-85, Sage Publication, New Delhi, 1986.

8.R.S. Bawa and P.S. Raikhy(eds.): PunjabEconomy,'Emerging Issues, Guru Nanak Dev University, Amritsar, 2000.

9.J.R. Gupta: Burden of Tax in Punjab, Concept Publishing House, New Delhi.

10.H.S. Shergill: Rural Credit and Indebtedness in Punjab, Institute of Development and Communication, Chandigarh, 1998.

11.Balwinder Singh: Agricultural Credit, Sources, Problems and Emerging Issues, Deep & Deep Publishers Pvt. Ltd., New Delhi, 2000.

ECO-603: DEVELOPMENT ECONOMICS-II

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

Section- A

Theories of Development: Adam Smith, Ricardo, Malthus, Karl Marx, Growth Models: Harrod Domar, Meade, Joan Robinson.

Balanced and Unbalanced Growth Strategy: Nurkse, Hirschman.

Leibenstein's Critical Minimum Efforts Thesis. Growth Models: Schumpter,Lewis, Rosenstein-Rodan.

Section- B

Economic Planning and Development: Concept of Planning, Types of Planning, Arguments for and Against Planning and Limitations of Planning. Planning and Market Mechanism.

Planning Models and Techniques: Mahalanobis Model, Cost Benefit Analysis and Benefit Analysis and Investment Criteria. Choice of Technique, Shadow Prices and Capital-output Ratios.

BASIC READINGS

G.M. Meier and J.E. Rauch: Leading Issues in Economic Development, 7th Edition, Oxford University Press, Oxord,2000.
M.P. Todaro: Economic Development, 5th Edition, Longman, 1994.
Debraj Ray: Development Economics, Oxford University Press, Oxford,1998.
Benjamin Higgins: Economic Development, Central Book Depot, Allahabad.
Hollis Chenery and T.N. Srinivasan: Handbook of Development Economics,Vol. I and II, Amsterdam, 1985.
S.P. Gupta: The Underdevelopment of Development, Sage Publications, New Delhi, 1999.
S.C. Chew and R.A. Denmark:Growth and Development, Macmillan Education Ltd.., London, 1986.
A.P. Thirlwal: Growth and Development, Macmillan Education Ltd., London, 1986.
Bo Sodersten: International Economics (Latest edition)/

ECO-604: CURRENT ISSUES IN GLOBAL ECONOMY

Maximum Marks :100 Teaching Periods :55

Internal Assessment :50 Marks Time Allowed : 3 Hours

External Assessment :50 Marks Pass Marks : 40

INSTRUCTIONS FOR THE PAPER-SETTER

INSTRUCTIONS FOR THE CANDIDATES

Candidates will be required to attempt two questions from each of the sections A and B of the question paper and the entire Section C.

Section- A

International Monetary System: Pre-Bretton Woods (1870-1939), Bretton Wood and Post-Bretton Woods System. IMF and International Liquidity.

International Financial Flows: Money and Capital Markets:

Evolution, Structure and Instruments; GDRs, ADRs, Euro-dollar and Euro-currencies; Euro-credits and deposits, Foreign-bonds, Euro-bonds and Euro-notes.

Section- B

Regional Economic Groupings: SAASRC, EU, NAFTA, ASEAN, and APEC, MNCs: Theory, Evolution and Structure.

International Economic Institutions: World Bank, ADB, IFC and IDA, GATT and WTO, UNCTAD and NIEO.