ECONOMICS (HONS./PG) [ CODE -09]]
Group –A
1. DEFINITION AND SCOPE OF ECONOMICS
Basic problems in every economic society and their solution in different economic
systems. A general view of the price system. The elementary theory of demand,
supply and market price. The elasticities of demand and supply, Applications of the
demand-supply apparatus in price control and rationing, taxation and in the
determination of the prices of agricultural and manufactured goods.
2. THEORY OF CONSUMER BEHAVIOUR
Concepts of cardinal and ordinal utility – the limitation of cardinal utility analysis.
The Indifference Curve approach. Consumer’s equilibrium. Income effect,
substitution effect and price effect. The Revealed Preference approach.
3. THE THEORY OF PRODUCTION
The concept of production function. Production with a single variable input.
Production with two variable inputs. Optimal input combination. Cobb-Douglas
production function.
4. THE THEORY OF COST.
Different concepts of cost. Short-run and long-run cost analysis.
5. THE THEORY OF THE FIRM AND MARKET ORGANISATION
A. Characteristics of perfect competition. Short-run and long-run equilibrium of
the firm and the industry. Short-run and long-run supply curve of the firm
and the industry.
B. Monopoly. Bases of Monopoly. Equilibrium under monopoly. Discriminating
monopoly.
C. Characteristics of Monopolistic Competition and Oligopoly
6. THE MARGINAL PRODUCTIVITY THEORY OF DISTRIBUTION
Rent and its determination. Supply of labour, determination of wages and the role
of trade unions. Elements of profits. Concept of interest – gross and net interest,
real and money interest.
7. CONCEPT OF NATIONAL INCOME
Different methods of measuring national income. Difficulties in measurement.
National Income Determination. Consumption Function and Multiplier.
Investment and Saving. Government and the circular flow of income. Fiscal
Policy.
8. THE QUANTITY THEORY OF MONEY
Fisher’s version and Cambridge version. Keynesian Liquidity Preference.
9. BANKING
Functions of Central Banks and Commercial Banks; Credit Creation; Credit Control
methods.
10. CONCEPTS OF INFLATION, DEFLATION AND STAGFLATION
Demand-pull and cost-push inflation. Anti-inflationary monetary and fiscal
policies.
11. PUBLIC FINANCE
Principles of taxation. Incidence of taxes, Effects of taxation. Public Debt and its
effects.
12. INTERNATIONAL TRADE
Basis of trade, Gains from trade. Arguments for free trade and protection. Balance
of Trade and balance of payments. Measures for correction of disequilibrium in
balance of payments. The theory of exchange rates.
Group –B
13. GROWTH AND DEVELOPMENT
Features of Less Developed Countries
14. GENERAL FACTORS IN ECONOMIC DEVELOPMENT
Role of capital formation and the use of capital-output ratio in development
planning. Population Growth and Economic Development.
15. APPROCHES TO THE THEORY OF DEVELOPMENT
The Classical theory. The stages of economic growth – Marx and Rostow. Lewis
model of development with unlimited labour supply.
16. STRATEGY OF DEVELOPMENT
Choice of technique; Balanced vs. Unbalanced growth.
17. INTERNATIONAL TRADE AND ECONOMIC DEVELOPMENT
Foreign Aid; Role of Multinational in developing countries. The I.M.F. and the
World Bank.
18. ENVIRONMENT AND ECONOMIC DEVELOPMENT
The problems of sustainable development.
19. AGRICULTURE IN THE INDIAN ECONOMY
Land reforms; Agricultural labour, Agricultural finance, Technological changes –
Their impact on the economy. Agricultural marketing. Public Distribution system.
20. INDUSTRIAL PROBLEMS IN INDIA
Industrial Policy. Traditional and small scale industries. Some large scale
industries—iron and steel, jute and cotton. Industrial Finance. Role and
performance of the public sector. Industrial labour and industrial relations. Social
Security for industrial workers.
21. INDIAN BANKING SYSTEM AND MONETARY POLICIES
Reserve Bank of India –functions, methods of note issue and credit control
instruments. Performance of the nationalized commercial banks in recent years.
Inflation during the plan period.
22. FISCAL POLICY IN INDIA
Revenue and expenditure of the Central Government. Revenue and expenditure of
the West Bengal Government. Centre-State Financial relations.
23. INDIAN FOREIGN TRADE AND BALANCE OF PAYMENTS.
Changes in the pattern and direction of India’s exports and imports. India’s balance
of payments. Government policies.
24. INDIAN PLANNING
Overall objectives of the Five Year Plans. Achievements and failures. Economic
Reforms since 1991.
Group –A
1. DEFINITION AND SCOPE OF ECONOMICS
Basic problems in every economic society and their solution in different economic
systems. A general view of the price system. The elementary theory of demand,
supply and market price. The elasticities of demand and supply, Applications of the
demand-supply apparatus in price control and rationing, taxation and in the
determination of the prices of agricultural and manufactured goods.
2. THEORY OF CONSUMER BEHAVIOUR
Concepts of cardinal and ordinal utility – the limitation of cardinal utility analysis.
The Indifference Curve approach. Consumer’s equilibrium. Income effect,
substitution effect and price effect. The Revealed Preference approach.
3. THE THEORY OF PRODUCTION
The concept of production function. Production with a single variable input.
Production with two variable inputs. Optimal input combination. Cobb-Douglas
production function.
4. THE THEORY OF COST.
Different concepts of cost. Short-run and long-run cost analysis.
5. THE THEORY OF THE FIRM AND MARKET ORGANISATION
A. Characteristics of perfect competition. Short-run and long-run equilibrium of
the firm and the industry. Short-run and long-run supply curve of the firm
and the industry.
B. Monopoly. Bases of Monopoly. Equilibrium under monopoly. Discriminating
monopoly.
C. Characteristics of Monopolistic Competition and Oligopoly
6. THE MARGINAL PRODUCTIVITY THEORY OF DISTRIBUTION
Rent and its determination. Supply of labour, determination of wages and the role
of trade unions. Elements of profits. Concept of interest – gross and net interest,
real and money interest.
7. CONCEPT OF NATIONAL INCOME
Different methods of measuring national income. Difficulties in measurement.
National Income Determination. Consumption Function and Multiplier.
Investment and Saving. Government and the circular flow of income. Fiscal
Policy.
8. THE QUANTITY THEORY OF MONEY
Fisher’s version and Cambridge version. Keynesian Liquidity Preference.
9. BANKING
Functions of Central Banks and Commercial Banks; Credit Creation; Credit Control
methods.
10. CONCEPTS OF INFLATION, DEFLATION AND STAGFLATION
Demand-pull and cost-push inflation. Anti-inflationary monetary and fiscal
policies.
11. PUBLIC FINANCE
Principles of taxation. Incidence of taxes, Effects of taxation. Public Debt and its
effects.
12. INTERNATIONAL TRADE
Basis of trade, Gains from trade. Arguments for free trade and protection. Balance
of Trade and balance of payments. Measures for correction of disequilibrium in
balance of payments. The theory of exchange rates.
Group –B
13. GROWTH AND DEVELOPMENT
Features of Less Developed Countries
14. GENERAL FACTORS IN ECONOMIC DEVELOPMENT
Role of capital formation and the use of capital-output ratio in development
planning. Population Growth and Economic Development.
15. APPROCHES TO THE THEORY OF DEVELOPMENT
The Classical theory. The stages of economic growth – Marx and Rostow. Lewis
model of development with unlimited labour supply.
16. STRATEGY OF DEVELOPMENT
Choice of technique; Balanced vs. Unbalanced growth.
17. INTERNATIONAL TRADE AND ECONOMIC DEVELOPMENT
Foreign Aid; Role of Multinational in developing countries. The I.M.F. and the
World Bank.
18. ENVIRONMENT AND ECONOMIC DEVELOPMENT
The problems of sustainable development.
19. AGRICULTURE IN THE INDIAN ECONOMY
Land reforms; Agricultural labour, Agricultural finance, Technological changes –
Their impact on the economy. Agricultural marketing. Public Distribution system.
20. INDUSTRIAL PROBLEMS IN INDIA
Industrial Policy. Traditional and small scale industries. Some large scale
industries—iron and steel, jute and cotton. Industrial Finance. Role and
performance of the public sector. Industrial labour and industrial relations. Social
Security for industrial workers.
21. INDIAN BANKING SYSTEM AND MONETARY POLICIES
Reserve Bank of India –functions, methods of note issue and credit control
instruments. Performance of the nationalized commercial banks in recent years.
Inflation during the plan period.
22. FISCAL POLICY IN INDIA
Revenue and expenditure of the Central Government. Revenue and expenditure of
the West Bengal Government. Centre-State Financial relations.
23. INDIAN FOREIGN TRADE AND BALANCE OF PAYMENTS.
Changes in the pattern and direction of India’s exports and imports. India’s balance
of payments. Government policies.
24. INDIAN PLANNING
Overall objectives of the Five Year Plans. Achievements and failures. Economic
Reforms since 1991.
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