SYLLABUS

B.Sc. (HONOURS SCHOOL) IN ECONOMICS PART-III

(Semester V and VI)

2012-13, 2013-14and 2014-15 Sessions

Semester-V

Eco-501:Mathematics-V

Eco-502:Regional Economics

Eco-503:Development Economics-I

Eco-504:Environmental Economics

Eco-505:Comparative Economics System

Eco-506:Economic History of India

Semester-VI

Eco-601:Mathematics-VI

Eco-602:Punjab Economy

Eco-603:Development Economics-II

Eco-604 :Current Issues in Global Economy

Eco-605 :Business Finance in India

Eco-606:Current Issues in Indian Economy

Eco-607: Comprehensive Viva-Voce

SEMESTER-V

ECO-501: MATHEMATICS-V

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A,B,C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

SECTION-A

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

SECTION-B

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

SECTION-C

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

SECTION-D

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 Hill, New Delhi.

3.Goldberger, A.S.: Introductory Econometrics, HarvardUniversity Press.

ECO-502: REGIONAL ECONOMICS

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

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.

SECTION-B

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

SECTION-C

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

SECTION-D

Regional Allocation of Resources. Regional Investment Criteria.

Interrelationship between Regional and National Cycles. Regional 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, 1976.

3.David Smith: Industrial Location: An Economic-Geographic Analayis, 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.

ECO-503: DEVELOPMENT ECONOMICS-I

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

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.

SECTION-B

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

SECTION-C

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.

SECTION-D

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

  1. G.M. Meier & J.E. Rauch: Leading Issues in Economic Development, 7thEditionOxfordUniversity Press, Oxford, 2000.
  2. M.P. Todaro: Economic Development, 5th Edition, Longman, 1994.
  1. Debraj Ray: Development Economics, OxfordUniversity Press, Oxford, 1998.
  1. Benjamin Higgins: Economic Development, Central Book Depot, Allahabad.
  1. Hollis Chenery and T.N. Srinivasan: Handbook of Development Economics, Vol. I and II, Amsterdam, 1985.
  1. S.P. Gupta: Planning Models in India.
  1. S.C. Chew and R.A. Denmark: The Underdevelopment of Development, Sage Publications, New Delhi, 1999.
  1. A.P. Thirlwal: Growth and Development, Macmillan Education Ltd., London, 1986.

9. Bo Sodersten: International Economics (Latest edition)

ECO-504: ENVIRONMENTAL ECONOMICS

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

SECTION-A

Environmental Economics; Scope and Method: Environmental Problems; Sustainable Development; Economic Growth and Environment (Environmental Kuznets Curve Hypothesis); Poverty and Environmental Resource Base.

SECTION-B

Theory of Externalities and Public Goods; Efficiency and Markets; Market Failure; Public Bads and Externalities; Property Rights and Coase Theorem.

SECTION-C

Regulating Pollution; Basic Regulatory Instruments; Emission Fee and Marketable Permits; Audits, Enforcement, and Moral Hazrd; Criteria for Setting Taxes, The Pigouvian Tax Rule Under Monopoly, Taxes Versus Subsidies.

SECTION-D

Economy-wide Effects on Environmental Regulation; Measuring the Benefits of Environmental Improvements; Revealed Preference (IMM); Hedonic Price Methods; Household Production, Constructed Markets (DMM); International Trade and Environment: International Environmental Treaties and Institutions; Environmental Quality and Income Distribution.

BASIC READINGS

  1. Kolstad, Charled D.: Environmental Economics, OxfordUniversity, Press, 2000, Indian Print.
  2. Baumal, William J. & Wallace E. Oates: The Theory of Environmental Policy, CambridgeUniversity, Press, 1988.
  3. Oates, Wallace E. (ed.): The Economics of Environment, Edward Elger Publishing Co., 1999.
  4. Fisher, A.C.: Resource and Environmental Economics, CambridgeUniversity Press, 1981.
  1. Cropper, Maureen L. and Wallace E. Oates:Environmental Economics. A Survey, Journal of Econemic Literature, Vol. 30, 1992.
  2. World Band: Sustainable Development in a Dynamic World: Transforming Institutions, Growth and Quality of Life, World Development Report, 2003.
  3. SankarU. (ed.): Environmental Economics, OxfordUniversity Press, New Delhi,2001.
  4. Schulze G.G. and H;W.Urspring (ed.): International Environmental Economics: A Survey of Issues, OxfordUniversity Press, Oxford, 2001.
  5. Bhhattacharya Rabindra N.: Environmental Economics: An Indian Perspective, OxfordUniversity, Press, New Delhi, 2001.
  6. Pearson Charles S.: Economics and the Global Environment, CambridgeUniversity Press, Cambridge, 2000.

ECO-505: COMPARATIVE ECONOMIC SYSTEM

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

SECTION-A

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

SECTION-B

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-C

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.

SECTION-D

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

  1. Halm, George, N. : Economic System: A Comparative Analaysis.
  2. Louks, V.N. & Whitney,W.C.: Comparative Economic Systems.
  3. Dalton, G.: Economic Systems and Society.
  4. Willczynski, J.: Economics of Socialism.
  5. Kozolv, G.A.: Political Economy of Socialism.
  6. Lavigne.M.: Economics of East European Socialist Countries and USSR.

ECO-506: ECONOMIC HISTORY OF INDIA

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

SECTION-A

Economy in the mid-nineteenth century. Colonial Exploitation:

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

SECTION-B

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-C

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

SECTION-D

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

  1. D.R. Gadgill: The Industrial Evolution of India in Recent times. OxfordUniversity Press, Delhi, Chs. III, IV,VI, VII & XI, 1971
  2. R.C. Dutt: The Economic History of India Under Early British Rule. Low Price Publications, Delhi.1950.
  3. V.B. Singh (ed.): Economic History of India1857-1956.Allied Publications Private Limited, Bombay, 1965.
  4. R. Dutt and K.P.M. Sundharam: Indian Economy S. Chand & Company Ltd., New Delhi,2000.
  5. G. Kaushal: Economic History of India
  6. Ghosh, Alok: Indian Economy: Its Nature and Problems, The World Press Pvt. Ltd.

SEMESTER-VI

ECO-601: MATHEMATICS-VI

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

SECTION-A

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

SECTION-B

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-C

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

.SECTION-D

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

BASIC READINGS

  1. Henderson, J.M. & Quandt, R.B. : Micro economics theory: A Mathematical Approach(3rd ed.), 1980
  2. Allen, R.G.D.: Mathematical economics. 1974
  3. Silberberg, E : The structure of economics –A Mathematical Analysis 1978
  4. Lancaster, V: Mathematical Economics 1965
  5. Taka Yama A: Mathematical Economics 1974
  6. Kogiku, K.C.: Micro economic models, 1971
  7. Chiang, A.C.: Fundamental Methods of Mathematical Economics (3rd ed.), 1984
  8. Derfman, R., Samuelson, P. and Sallow, R: Linear programming and Economic Analysis, 1968

ECO-602: PUNJAB ECONOMY

Maximum Marks: 100Teaching Hours 55

Internal Assessment: 50Pass Marks: 40

External Assessment: 50Time Allowed: 3 Hours

INSTRUCTIONS FOR THE PAPER-SETTER

The question paper will consist of five sections: A,B,C,D and E. Sections A,B, C and D will have two questions from the respective sections of the syllabus and will carry 7½ marks each. Section E 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 type question will carry 2 marks.(The candidates are required to give answer of each short type questions in 50 words i.e. in 7-10 lines.)

INSTRUCTIONS FOR THE CANDIDATES

Candidates are required to attempt one question from each of the sections A, B, C and D of the question paper and the entire Section E. The use of simple calculator is allowed. (The candidates are required to give answer of each short type question in 50 words i.e. in 7-10 lines)

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 and extentof urbanization.

Section- B

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- C

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

Section-D

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

BASIC READINGS

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

2. R.S. Johar and J.S. Khnna: Studies in Punjab Economy, GuruNanakDevUniversity, Amritsar, 1983.