1. Advanced Micro Economics:
(a) Marshallian and Walrasiam Approaches
to Price determination.
(b) Alternative Distribution Theories:
Ricardo, Kaldor, Kaleeki
(c) Markets Structure: Monopolistic
Competition, Duopoly, Oligopoly.
(d) Modern Welfare Criteria: Pareto
Hicks & Scitovsky, Arrow’s Impossibility
Theorem, A.K. Sen’s Social
Welfare Function.
2. Advanced Macro Economics:
Approaches to Employment Income and
Interest Rate determination: Classical,
Keynes (IS-LM) curve, Neo classical synthesis
and New classical, Theories of Interest
Rate determination and Interest Rate
Structure.
3. Money - Banking and Finance:
(a) Demand for and Supply of Money:
Money Multiplier Quantity Theory of
Money (Fisher, Pique and Friedman)
and Keyne’s Theory on Demand for
Money, Goals and Instruments of Monetary
Management in Closed and
Open Economies. Relation between
the Central Bank and the Treasury.
Proposal for ceiling on growth rate of
money.
(b) Public Finance and its Role in Market
Economy: In stabilization of supply,
allocation of resources and in distribution
and development. 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.
4. International Economics:
(a) Old and New Theories of International
Trade
(i) Comparative Advantage
(ii) Terms of Trade and Offer Curve.
(iii) Product Cycle and Strategic Trade
Theories.
(iv) Trade as an engine of growth and
theories of under development in
an open economy.
(b) Forms of Protection: Tariff and quota.
(c) Balance of Payments Adjustments:
Alternative Approaches.
(i) Price versus income, income adjustments
under fixed exchange
rates,
(ii) Theories of Policy Mix
(iii) Exchange rate adjustments under
capital mobility
(iv) Floating Rates and their Implications
for Developing Countries: Currency Boards.
(v) Trade Policy and Developing
Countries.
(vi) BOP, adjustments and Policy Coordination
in open economy
macro-model.
(vii) Speculative attacks
(viii)Trade Blocks and Monetary
Unions.
(ix) WTO: TRIMS, TRIPS, Domestic
Measures, Different Rounds of
WTO talks.
5. Growth and Development:
(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: Myrdal and
Kuzments on economic development
and structural change: Role of Agriculture
in Economic Development of
less developed countries.
(c) Economic development and International
Trade and Investment, Role of
Multinationals.
(d) Planning and Economic Development:
changing role of Markets and
Planning, Private- Public Partnership
(e) Welfare indicators and measures of
growth – Human Development Indices.
The basic needs approach.
(f) Development and Environmental
Sustainability – Renewable and Non
Renewable Resources, Environmental
Degradation, Intergenerational equity
development.
1. 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.
2. Indian Economy after Independence:
A The Pre Liberalization Era:
(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,
(iii) Industry Trends in composition
and growth, Role of public and
private sector, Small scale and
cottage industries.
(iv) National and Per capita income:
patterns, trends, aggregate and
Sectoral composition and
changes their in.
(v) Broad factors determining National
Income and distribution,
Measures of poverty, Trends in
poverty and inequality.
B The Post Liberalization Era:
(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.
(iii) New Economic Policy and Trade:
Intellectual property rights: Implications
of TRIPS, TRIMS, GATS
and new EXIM policy.
(iv) New Exchange Rate Regime:
Partial and full convertibility, Capital
account convertibility.
(v) New Economic Policy and Public
Finance: Fiscal Responsibility Act,
Twelfth Finance Commission and
Fiscal Federalism and Fiscal
Consolidation.
(vi) New Economic Policy and Monetary
system. Role of RBI under
the new regime.
(vii) Planning: From central Planning
to indicative planning, Relation
between planning and markets
for growth and decentralized planning:
73rd and 74th Constitutional
amendments.
(viii)New Economic Policy and Employment:
Employment and poverty,
Rural wages, Employment
Generation, Poverty alleviation
schemes, New Rural, Employment
Guarantee Scheme.
This syllabus is provided to you as an indicative syllabus only. For complete syllabus:
