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9th December 2014, 09:51 AM
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Ph.D in Economics Entrance Exam Syllabus
I want to get the Ph.D Economics Entrance Exam Syllabus of pune university, will you please provide me that ?
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9th December 2014, 12:39 PM
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Re: Ph.D in Economics Entrance Exam Syllabus
As you want to get Ph.D Economics Entrance Exam Syllabus of Pune university, so here I am giving you same: Topic 1. Introduction:- 1.1 Micro Economics: - Nature, Scope, Importance & Limitations. 1.2 Methodology of Economics: - Deductive V/s Inductive. 1.3 Economics - Statics & Dynamics 1.4 Basic Economic Problems :- Scarcity & Choice 1.5 Price Mechanism: - Functions & Limitations. Topic 2. Demand Analysis – 2.1 Cardinal Utility Approach - Law of Diminishing Marginal Utility , Consumer’s equilibrium, Derivation of Demand Curve, Law of Demand. 2.2 Ordinal Utility Approach:- Indifference curve, Properties Consumer’s equilibrium, Price, income & substitution effects, Derivation of Demand Curve. 2.3 Revealed Preference Theory of Demand. 2.4 Recent Development in Demand Theory :- Hicksian Revised Theory – Neumann – Morgenstern Statistical Utility Theory, Armstrong’s Marginal Preference Theory . Topic 3. Consumer Surplus and Elasticity of Demand:- 3.1 Consumer Surplus: - Meaning, Marshall’s Measurement of Consumer Surplus, Measurement of Consumer Surplus through indifference Curve analysis, Critical Evaluation. 3.2 Elasticity of Demand :- Meaning, Price Elasticity of Demand, Measurement of Price elasticity, Income Elasticity of Demand, Cross Elasticity of Demand, Numerical Problems . Ph.D Economics Entrance Exam Syllabus of pune university UNIVERSITY OF PUNE Department of Economics Instructions: 1) The syllabus for the candidates of PET is given below, it includes the MA economics syllabus of Micro and Macro, also Growth and Development, Public Finance, International Economics and Statistics 2) The examination will take place tentatively on the 16th/17th/18th of January in the Department of Economics, Ambedkar Bhavan, first floor, University of Pune. 3) The exact date and time will be notified soon on the Net. 4) The question paper will be of 100 marks and it will contain 20 marks objective questions and 80 marks subjective question which will include short notes, answer the following, give reasons, explain the following statements and questions like that. The objective questions will be - fill in the blanks and match the following, write true or false and such type. Syllabus for the PhD entrance EC- 101 – Micro Economic Analysis – I Topic 1. Introduction:- 1.1 Micro Economics: - Nature, Scope, Importance & Limitations. 1.2 Methodology of Economics: - Deductive V/s Inductive. 1.3 Economics - Statics & Dynamics 1.4 Basic Economic Problems :- Scarcity & Choice 1.5 Price Mechanism: - Functions & Limitations. Topic 2. Demand Analysis – 2.1 Cardinal Utility Approach - Law of Diminishing Marginal Utility , Consumer’s equilibrium, Derivation of Demand Curve, Law of Demand. 2.2 Ordinal Utility Approach:- Indifference curve, Properties Consumer’s equilibrium, Price, income & substitution effects, Derivation of Demand Curve. 2.3 Revealed Preference Theory of Demand. 2.4 Recent Development in Demand Theory :- Hicksian Revised Theory – Neumann – Morgenstern Statistical Utility Theory, Armstrong’s Marginal Preference Theory . Topic 3. Consumer Surplus and Elasticity of Demand:- 3.1 Consumer Surplus: - Meaning, Marshall’s Measurement of Consumer Surplus, Measurement of Consumer Surplus through indifference Curve analysis, Critical Evaluation. 3.2 Elasticity of Demand :- Meaning, Price Elasticity of Demand, Measurement of Price elasticity, Income Elasticity of Demand, Cross Elasticity of Demand, Numerical Problems . Topic 4. Theory of Production: 3 4.1 Supply Analysis: Economies of Scale: - Internal Economies and Diseconomies, External Economies and Diseconomies. 4.2 Production Possibility Curve. 4.3 Production Function :- Law of Variable Proportions 4.4 Returns to Scale. 4.5 Isoquants:- Properties , Producer’s equilibrium 4.6 Linear Homogenous Production Function 4.7 Cobb - Douglas Production Function. Topic 5. Cost and Revenue 5.1 Cost Concepts: - Accounting and Economic Cost, Private Cost and Social Cost, Opportunity Cost, Fixed and Variable Cost, Average, Marginal and Total Cost, Numerical Problems. 5.2 Short Run and Long Run Cost Curves 5.3 Revenue Concepts: - Average, Marginal and Total Revenue, Numerical Problems. Basic Reading List: ıStigler G. (1996) Theory of Price, 4th Edition, Prentice Hall of India, New Delhi. ıSen A. (1999) Microeconomics: Theory and Application, Oxford University Press, New Delhi. ıKreps David M. (1990), A Course in Microeconomic Theory, Princeton University Press, Princeton. ıSamuelson, P.A. and W.O. Nordhaus (1998), Economics, 16th Edition, Tata McGraw Hill, New Delhi. ıVerian H. (2000) Microeconomic Analysis, W.W Norton New Yark. ıMichale Perkin (1996) Economics, 3rd Edition, Addison Westey Publishing company, Inc. U.S.A. ıKoutsoyiannis, A. (1979), Modern Microeconomics, 2nd edition Macmillan Press, London. ıLayard, P.R.G. and A.W. Walters (1978) Microeconomic Theory, McGraw Hill, New Yark. ıAhuja H.L. (2003) Advanced Economic theory : Microeconomic Analysis, 13th Edition, S.Chand and Co. Ltd. New Delhi. 4 ıSen, A/ (1999) Microeconomics: theory and Applications, Oxford University Press, New Delhi. ıChaturvedi, Gupta and Pal (2002) Business Economics: Text and Cases Galgotia Publishing Company, New Delhi. Additional Reading List: Topic 1: ıBaumol W.J.(1982) Economic Theory and operations Analysis, Prentice Hall of India, New Delhi. Topic 2: ıBaumol W.J.(1982) Economic Theory and operations Analysis, Prentice Hall of India, New Delhi. ıGreen H.A.G.(1971) Consumer theory, Penguni Harmonds Worth. ıHenderson, A.M. and R.E. Quandt (1980) Microeconomic Theory. A Mathematical Approach, McGraw Hill, New Delhi. ıHirshleifer J. and A.Glazer (1997) Price Theory and Applications, Prentice Hall of India,New Delhi. Topic 3: ıDa Costa, Go Co (1980) Production Prices and Distribution, Tata MacGraw Hill New Delhi. ıHealthfields and Wibe (1987) An Introduction to cost and Production’s Functions, Macmillan, London. ıHirshleifer J. and A.Glazer (1997) Price Theory and Applications, Prentice Hall of India,New Delhi. Topics 4 & 5: ıDa Costa, Go Co (1980) Production Prices and Distribution, Tata MacGraw Hill New Delhi. ıHirshleifer J. and A.Glazer (1997) Price Theory and Applications, Prentice Hall of India, New Delhi. E C- 102 – Public Finance Topic 1. Introduction - 1.1 The Role of the Government in a Changing Perspective 1.2 Fiscal Functions of the Government. 1.3 Co-ordination among these Functions. 1.4 Provision of Private Goods, Public Goods, Social Goods, Merit Goods and Mixed Goods. Topic 2. Principles of Taxation – 2.1 Principle of Fiscal Neutrality, Excess Burden, Doctrine Principle of Equity, Benefit Principle, Bowen and Lindhal Models, Ability to pay Principle Administrative Efficiency . 2.2 Application of Taxation Principles in Developing Countries. 2.3 Meaning, Types and Measurement of Taxable Capacity. Topic 3. Impact and Incidence of Taxes 3.1 Meaning of Impact and Incidence 3.2 Distinction Between Impact and Incidence 3.3 Types of Incidence 3.4 Theories of Shifting Incidence 3.5 Shifting of Tax Incidence under Different Market Conditions. Topic 4. Public Expenditure 4.1 Wagner’s Law 4.2 Wiseman – Peacock Hypothesis 4.3 Pure Theory of Public Expenditure 4.4 Social Cost- Benefit Analysis Topic 5. Public Debt. 5.1 Classical, Keynesian and Post – Keynesian Approaches of Public Debt. 5.2 Classification of Public Debt. 5.3 Burden of Public Debt. 5.4 Public Debt Management 5.5 Repayment of Public Debt. 6 Basic Reading List: - Public Finance 1.Richard A. Musgrave (1989), Public Finance in Theory and Practice McGraw Hill Book Company, New York. 2.Buchaman J.M. (1970), The Public Finances, Richard D.Irwin, Homewood. 3.Jha H. (1998), Modern Public Economics, Routledge, London. 4.Singh S.K. (1986) Public Finance in Developed and Developing Countries, S.Chand and Company Ltd, New Delhi. 5.Chelliah R.J. (1971), Fiscal Policy in Underdeveloped Countries. 6.Hemlata Rao (2006) Fiscal Federalism –Issues and Policies, New Countury Publications, New Delhi. 7.Atkinson A.B. and J.E. Siglitz (1980). Lectures on Public Economics, Tata MacGraw Hill, New Delhi. Additional Reading List : Topic: 1 - Comes R. and T.Sandler (1986) The theory of Externalities, Public Goods and Club Goods, Cambridge University Press, Cambridge. - Duff L. (1997), Government and Market, Orient Longman, New Delhi. - Friedman A. 91986), Welfare Economics and Social Choice Theory, Martins Nighoff, Boston. Topic: 2 & 3 - Bird R. And O.Aidman (1967) Reading on Taxation in Developing Countries, The John Hopkins University. - Musgrave R.A. and C. Shoup (ed) (1970), Reading in the Economics of Taxation, George Alien and Unwin, London. Topic: 4. - Mishan E.J. (1982), Cost-Benefit Analysis; An Informal Introduction, George Alian and Unwin, London. - Premchand A. (1966), Control of Public Expenditure in India, Allied Publishers, New Delhi. Topic: 5 - Barman K. (1986) Public Debt Management in India, Uppal Publishing house, New Delhi. - Sreakantaradhya B.s. 91972) Public Debt and Economic Development in India, New Delhi. EC- 201 – MICRO ECONOMIC ANALYSIS – II Topic 1. Price & output Determination (I) - 1.1 Perfect Competition - Features, Price Determination, Equilibrium of the Firm and Industry. 1.2 . Monopoly: - Price and Output Determination. 1.3 Comparison between Monopoly equilibrium in and perfect Competiton Equilibrium 1.4 Discriminating Monopoly – Price Discrimination, Equilibrium under Discriminating Monopoly. 1.5 Regulation of Monopoly – Through Taxation, and Price Regulation Topic 2. Price & output Determination (II) - 2.1 Monopolistic Competition – Price and Output Determination. 2.2 Critique of Chamberlin’s Theory of Monopolistic Competition 2.3 Excess Capacity under Monopolistic Competition 2.4 Selling Cost. 2.5 Oligopoly – Price and Output Determination. 2.6 Cournot’s Model and Chamberlin’s Model of Oligopoly. 2.7 Kinked Demand Curve in Oligopoly. 2.8 Game Theory of Oligopoly. 2.9 Duopoly – Price and Output Determination. Topic 3. Alternative Theories of the Firm – 3.1 Baumol’s Model of Sales Revenue Maximization. 3.2 Marris’s Managerial Model of the Firm. 20 3.3 Williamson’s Managerial Model of the Firm. Topic 4. Factor Pricing – 4.1 Marginal Productivity Theory. 4.2 Euler’s Theorem and Product Exhaustion Problem or Adding up Problem. 4.3 Modern Theory of Rent. 4.4 Wage Determination under Collective Bargaining. 4.5 Fixation of Minimum Wage. 4.6 Modern Theory of Interest, IS-LM Curve Model. 4.7 Dynamic Theory of Profit, Innovation Theory, Risk and Uncertainty Theory. Topic 5. Welfare Economics. 5.1 Pigou’s Theory of Welfare Economics 5.2 Conditions of Pareto Optimality. 5.3 Bergson – Samulson’s Social Welfare Function. 5.4 Arrow’s Impossibility Theoriem. Basic Reading List :- ıMichael Perkin (1996) Economics 3rd Edition, Addison Westey Publishing Company, Inc. U.S.A. ıStigler G. (1996) Theory of Price, 4th Edition, Prentice Hall of India, New Delhi. ıSamulson P.A. and W.O. Nordhaus (1998) Economics 16th Edition Tata Mc Gram Hill, New Delhi ıDewett K.K. Modern Economic Theory, S. Chand & Company Ltd., Revised Edition 2005. ıAhuja H.L. Modern Economics 13th Edition, 2008, S.Chand and Company Ltd., New Delhi. ıLayard P.R.G. and A.W. Walters (1978) Micro – Economic Theory, Mc Gram Hill, New Yark. ıKreps David M.(1990) A Course in Micro Economic Theory Princeton University Press, Prencetion. 21 ıSen A. (1999) Micro Economics Theory and Application , Oxford University Press , New Delhi ıBroadway R.W.and Bruse (1984) Welfare Economics, Busil Blackwell, London. Topic 1 ıArchibald G.C. (1971) Theory of the firm, Penguin, Harmondsworth. ıBain J. (1958) Barriers to New Competition, Harrard University Press, Harvard. Topic 2 ıHirshleifer J. and A.Glazer (1997) Price Theory and Applications, Prentice Hall of India,New Delhi. Topic 3 ıBroadway R.W. and Bruce (1984) Welfare Economics, Busil Blackwell, London. ıGraff J. De V. (1957) Theoretical Welfare Economics, Cambridge University Press, Cambridge. ıHenderson, A.M. and R.E. Quandt (1980) Microeconomic Theory. A Mathematical Approach, McGraw Hill, New Delhi. Topic 4& 5 ıMishan E.J. (1969) Welfare Economics: an Assessment, North Holland, Amsterdam. ıAhuja H.L. (2003) Advanced Economic theory: Microeconomic Analysis, 13th Edition, S.Chand and Co. Ltd. New Delhi. EC- 202 – Indian Public Finance Topic 1. Government Budgeting - 1.1 Budget – Meaning and Components. 1.2 Preparation, Presentation and Execution of Budget. 1.3 Economic Classification of Budget 1.4 Budget Deficits and Their Implications. Topic 2. Revenue, Expenditure and Public Debt.- 2.1 Trends in Revenues of Union , State and Local Bodies since 1991. 2.2 Trends in Expenditure of Union , State and Local Bodies since 1991. 2.3 Burden of Public Debt on Indian Economy 2.4 Public Debt Policy Since 1991. 2.5 Reforms in Direct and Indirect Taxes Topic 3. Deficit Financing - 3.1 Meaning and Objectives of Deficit Financing. 3.2 Trends in Different Types of Deficits Since 1991. 3.3 Deficit Financing in India. 3.4 Effects of Deficit Financing on Indian Economy. 3.5 Assessment of the Recent Central Government Budget. Topic 4. Fiscal Policy – 4.1 Meaning and Objectives. 4.2 Interdependence of Monetary and Fiscal Policies. 4.3 Automatic Vs Discretionary Stabilizers. 4.4 Balanced Budget, Multiplier & Crowing Out Effects. 4.5 Indian Fiscal Policy since 1991. 4.6 Indian Fiscal Imbalance - Indicators, Causes, Effects & Remedial Measures. Topic 5. Federal Finance. 23 5.1 Principles of Federal Finance. 5.2 Assignment of Functions & Devolution of Resources and Grants. 5.3 Vertical and Horizontal Imbalance. 5.4 Transfer of Resources from Union to States. 5.5 Recommendations of Eleventh and Twelth Finance Commissions. 5.6 Centre – States conflicts on Finances Basic Reading List :- India Public Finance 1.Tripathy R.N. Public Finance in Underdeveloped Countries. 2.Dr. Joshi P.L. Zero Base Budgeting Technology in Government, Dhruv and Deep Books, Bombay. 3.Dr.Tyagi B.P., Public Finance, Jai Prakash Nath Pub.Meerat (UP). 4.Mithani D.M. Principles of Public Finance and Fiscal Policy Himalaya Publishing House, New Delhi. 5.Ruddar Datt and K.P.M. Sundharam (2006), Indian Economy, S.C.Chand and Company Ltd, New Delhi. 6.Ashutosh Raravikar, Fiscal Deficit and Inflation in India, Macmillan India Ltd. New Delhi. Topic 1 - Sheth C.S. Theory and Practice of Public Finance, Himalaya Publishing House, New Delhi. - Nanjundappa D.M. Studies in Public Finance, Asia Publishing House New Delhi. Topic 2 - Bhargave R.N. (1967), The Theory and Working of Union Finance in India, Chaitanya Publishing House, Allahabad. Topic 3. - American Economic Assiciation (1955) Readings in Fiscal Policy, George Alien and unio, London. Topic 4. & 5 - Bhargave R.N. (1969), Indian Public Finance, B.D. Shargava and Sons, Chandausi. - Bhargave P.K. (1976), Taxation of Agriculture in India, Vora and Co. Bombay. - Bhargave P.K. (1991), Indian’s Fiscal Crisis, Ashish Publishing House, New Delhi. - Gandi V.P. (1970), Some Aspects of India’s Tax Structure, Vora and company, Bombay. EC- 207 – Statistical Techniques Topics I: Descriptive Statistics 1.1 Collection, Organization and Presentation of Data. 1.2 Measures of central tendency and dispersion- mean, median, mode, standard deviation, variance, covariance and correlation coefficients. 1.3 Correlation and regression analysis. 1.4 Measures of skewness and peaked ness. Topic II: Sampling and sampling methods 2.1 Sample and Population, Parameters and Statistics. 2.2 Variables and Attributes; sampling and non-sampling errors; 2.3 Types of sampling Topics III: Theory of Probability 3.1 Probability, distribution, Events spaces. 3.2 Joint, Marginal and Conditional Probability under conditions of certainty and uncertainty. 3.3 Random variable: Expectation and Distribution. 3.4 Addition and Multiplication Theorems. 3.5 Probability Distribution, discrete and continuous and Expected values. Topic IV: Probability Distribution Function 4.1 Binomial, Poisson, 4.2 Normal t-test, chi-square, t-test. Topic V: Statistical Estimation and Testing of Hypothesis 5.1 Types of estimators and their properties. 5.2 Sampling distribution for sample mean and Proportion. 5.3 Point and Interval estimation. 5.4 Null and Alternate Hypothesis. 5.5 Level of significance and Level of confidence, Confidence limits and Critical Region; 5.6 Tests of significance- Type I and II errors. Topics VI: Time series 6.1 Nature and decomposition of a time series-trend. 6.2 Cyclical, seasonal and random components. 6.3 Fitting trend curves. 34 Topic VII: Index numbers 7.1 Laspeyer’s, Paasche’s and Fisher’s Indices Books Croxton and Dudley: Applied General Statistics Gupta S. P.: Applied Statistics ************** EC 301 Macro Economic Analysis I 1. National Income and Accounts : Key concepts in Macro Economics, Circular flow of income: two three and four sector economy – different forms of national income accounting, flow of funds accounting and balance of payment accounting, Social Accounting 2. Consumption Function Keynes Psychological law of consumption – Implications of the law of consumption – short run and long run consumption function ; Empirical evidence of consumption function, Income consumption relationship – absolute income, relative income, life cycle and permanent income hypothesis. 3 : Investment Function Marginal efficiency of capital and investment — long run and short run; Investment Multiplier, The accelerator and investment behavior. 4 : Supply of Money Financial intermediation — a mechanistic model of bank deposit determination; A behavioural model of money supply determination, a demand determined money supply process; RBI approach to money supply; High powered money and money multiplier; budget deficits and money supply; 5 : Demand for Money Classical approach to demand for money, Quantity theory approach, Fisher’s equation, Cambridge quantity theory, Keynes’s liquidity preference approach, transaction, precautionary and speculative demand for money, Liquidity trap — aggregate demand for money; Derivation of LM curve. 3 BASIC READING LIST : ıAckley,G. (1978), Macroeconomics : Theory and Policy, Macmillan, New York. ıD’souza Errol (2008) Macroeconomics : Person Publication, New Delhi. ıBlackhouse, R. and A. Salansi (Eds.) (2000), Macroeconomics and the Real World (2 Vols.),Oxford University Press, London. ıBranson, W.A. (1989), Macroeconomic Theory and Policy, (3rd Edition), Harper and Row,New York. ıDornbusch, R. and F. Stanley (1997), Macroeconomics, McGraw Hill, Inc., New York. ıHall, R.E. and J.B. Taylor (1986), Macroeconomics, W.W. Norton, New York. ıJha, R. (1991), Contemporary Macroeconomic Theory and Policy, Wiley Eastern Ltd., NewDelhi. ıRomer, D.L. (1996), Advanced Macroeconomics, McGraw Hill Company Ltd., New York. ıScarfe, B.L. (1977), Cycles, Growth and Inflation, McGraw Hill, New York. ıShapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New Delhi. ıSurrey, M.J.C. (Ed.) (1976), Macroeconomic Themes, Oxford University Press, Oxford. ADDITIONAL READING LIST ıEdey, M. and A.T. Peacock (1967), National Income and Social Accounts, Hutchinson University Library, London. ıPowelson, J.P. (1960), National Income And Flow of Funds Analysis, McGraw Hill, NewYork. ıRao, V.K.R.V. (1983), India’s National Income : 1950 to 1980, Sage Publications, New Delhi. ıRuggles, R. and N. Ruggles (1956), National Income Accounts and Income Analysis, McGraw Hill, New York. ıUnited Nations (1974), Year Book of National Account Statistics. 4 ıDuesenberry, J.S. (1949), Income, Saving and the Theory of Consumer Behaviour. Harvard University Press, Harvard. ıFriedman, M. (1957), The Theory of Consumption Function, Princeton University Press, Princeton. ıKeynes, J.M. (1936), The General Theory of Employment, Interest and Money, Macmillan, London. ıMueller, M.G. (1966), Readings in Macroeconomics, Holt Rinehart and Winston, New York. ıGordon, R. and S.G. Harris (1998), Macroeconomics, Addison Wesley. ıCulbertson, J.M. (1968), Macroeconomic Theory and Stabilization Policy, McGraw Hill, Kogenkosh, Tokyo. ıChakravarty, S.C. (1985), Report of the Committee to Review the Working of the Monetary System, Reserve Bank of India, Bombay. ıGupta, S.B. (1995), Monetary Planning in India, Oxford University Press, New Delhi. ıGurley, J. and E.S. Shaw (1960), Money in a Theory of Finance, Brookings Institution, Washington. ıMckinen, G.E. (1978), Money, The Price Level and Interest Rates, Prentice Hall of India, New Delhi. ıReddy, Y.V. (2000), A Review of Monetary and Financial Sector Reforms in India — A Central Banker’s Perspective, UBSPD, New Delhi. ıFriedman, M. (1956), Studies in the Quantity Theory of Money, The University of Chicago Press, Chicago. ıKeynes, J.M. (1936), The General Theory of Employment, Interest and Money Macmillan, London. ıLaidler, D.E.W. (1977), Demand for Money : Theory and Evidence, Dum- Don Valley, New York. ıMckinen, G.E. (1978), Money, The Price Level and Interest Rates, Prentice Hall of India, New Delhi. ıLeijonhufvud, A. (1968), On Keynesian Economics and Economics of Keynes, Oxford University Press, London. ıLevacic, R. and A. Rebman (1986), Macroeconomics : An Introduction to Keynesian and Neo-classical Controversies, Macmillan, London. ıMankiw, N.G. and D. Romer (Eds.) (1991), New Keynesian Economics, (2 Vols.), MIT Press, Cambridge. ıRakshit, M. (1998), Studies in the Macroeconomics of Developing Countries, Oxford University Press, New Delhi. ıFriedman, M. (1956), Studies in the Quantity Theory of Money, The University of Chicago Press, Chicago. ıHicks, J.R. (1974), The Crisis in Keynesian Economics, Oxford University Press, New Delhi. ıJha, R. (1999), Contemporary Macroeconomic Theory and Policy, New Age International (P) Ltd., New Delhi. ıLaidler, D.F.W. (1977), Demand for Money : Theory and Evidence, Dum- Don Valley, New York. ıLeijonhufvud, A. (1968), On Keynesian Economics and Economics of Keynes, Oxford University Press, London. ıPatinkin, D. (1965), Money, Interest and Prices, Harper and Row, New York. ıGordon, R. and S.G. Harris (1998), Macroeconomics, Addison Wesley, Massachusetts. ıMankiw, N.G. and D. Romer (Eds.) (1991), New Keynesian Economics, (2 vols.), MIT Press, Cambridge. ıFrisch, H. (1983), Theories of Inflation, Cambridge University Press, Cambridge. ıHagger, A.J. (1977), Inflation : Theory and Policy, Macmillan, London. ıHudson, J. (1982), Inflation : A Theoretical Survey and Synthesis, George Allen and Unwin, London. ıSheffrin, S.M. (1996), Rational Expectations, Cambridge University Press, Cambridge. ıGordon, R.A. (1961), Business Fluctuations, Harper and Row. ıGordon, R.A. and L.R. Klein (Eds.) (1965), Readings in Business Cycles, Irwin, Homewood. 6 ıHicks, J.R. (1950), A Contribution to the Theory of Trade Cycles, Clarendon Press, Oxford. ıLucas, R. (1981), Studies in Business Cycle Theory, M.I.T. Press, Cambridge, Masscechusetts. ıTaylor, L. (1983), Structuralist Macroeconomics, Basic Books, New Longman. ıTurnovsky, S.J. (1977), Macroeconomic Analysis and Stabilization Policy, Cambridge University Press, Cambridge. EC 302 ECONOMICS OF GROWTH 1. Introduction Economic growth - Meaning, characteristic, Factors affecting economic growth : capital, labour and technology; 2. Classical theories of Growth Contributions of Adam Smith, Ricardo, Malthus, James Mill; Karl Marx and development of capitalistic economy — Theory of social change, surplus value and profit; Immutable laws of capitalist development; Crisis in capitalism — Schumpeter and capitalistic development; innovation — role of credit, profit and degeneration of capitalism; Structural analysis of development; Imperfect market paradigm. 3.Growth Models - I Harrod and Domar, instability of equilibrium; Neo-classical growth models — Solow and Meade, Mrs. Joan Robinson’s growth model; Cambridge criticism of Neoclassical analysis of growth, The capital controversy. 4. Growth Models - II Technological progress — embodied and disembodied technical progress; Hicks, Harrod; learning by doing, production function approach to the economic growth; Total factor productivity and growth accounting; Growth models of Kaldor and Pasinetti, Optimal savings and Ramsay’s rule, Golden rule of accumulation, Stability of equilibrium; Money in economic growth, Tobin, Levhari, Patinkin and Johnson; Endogenous growth; Intellectual capital: role of learning, education and research; AK model — Explanations of cross country differentials in economic growth. 8 BASIC READING LIST ıAdelman, I. (1961), Theories of Economic Growth and Development, Stanford University Press, Stanford. ıBehrman, S. and T.N. Srinivasan (1995), Handbook of Development Economics, Vol. 3, Elsevier, Amsterdam. ıBrown, M. (1966), On the Theory and Measurement of Technical Change, Cambridge University Press, Cambridge, Mass. ıChenery, H.B. et. al. (Eds.) (1974), Redistribution with Growth, Oxford University Press, Oxford. ıDasgupta, P. (1993), An Enquiry into Well-being and Destitution, Clarendon Press, Oxford. ıGhatak, S. (1986), An Introduction to Development Economics, Allen and Unwin, London. ıGillis, M., D.H. Perkins, M. Romer and D.R. Snodgrass (1992), Economics of Development, (3rd Edition), W.W. Norton, New York. ADDITIONAL READING LIST ıBarrell, R., G. Mason and M.O. Mahoney (2000), Productivity, Innovation and Economic Performance, Cambridge University Press, Cambridge. ıBarrow, R. and X. Sela-I, Martin, Economic Growth, McGraw Hill, New York. ıChakravarti, S. (1982), Alternative Approaches to the Theory of Economic Growth, Oxford University Press, New Delhi. ıHayami, Y. (1997), Development Economics, Oxford University Press, New York. ıMeadows, D.H. et. al. (1972), The Limits to Growth, Universe Books, New York. ıSen, A.K. (Ed.) (1990), Growth Economics, Penguin, Harmondsworth. ıSolow, R.M. (2000), Growth Theory : An Exposition, Oxford University Press, Oxford. 9 ıTaylor, L. (1979), Macro Models for Developing Countries, McGraw Hill, New York. ıTherberge, J.D. et. (1968), Economics of Trade and Development, John Wiley, New York. ıDasgupta, P. (1993), An Enquiry into Well-being and Destitution, Clarendon Press, Oxford. ıHirsch, A.O. (1958), The Strategy of Economic Development, Yale University Press, New York. ıLewis, W.A. (1955), The Theory of Economic Growth, George Allen and Unwin, London. ıMehrotra, S. and J. Richard (1998), Development with a Human Face, Oxford University Press, New Delhi. ıMeier, G.M. and D. Seers (Eds.) (1987), Pioneers in Development, Oxford University Press, NewYork. ıMyrdal, G. (1957), Economic Theory and Underdeveloped Regions, Duckworth, London. ıSchumpeter, J.A. (1949), The Theory of Economic Development, Harvard University Press, Cambridge, Mass. ıTodaro, M.P. (1971), Development Planning : Models and Methods, Oxford University Press, Oxford. EC- 401 Sub – Macro Economic Analysis II 1. Current issue and controversy in Macro Economics The school of thoughts: Classical, neo classical, Keynasian and post Keynesian. 2 : Neo-classical and Keynesian Synthesis Neo-classical and Keynesian views on interest; The IS-LM model; Extension of IS-LM model with government sector; Relative effectiveness of monetary and fiscal policies; Extension of IS-LM models with labour market and flexible prices. 3 : Post-Keynesian Demand For Money Post-Keynesian approaches to demand for money — Patinkin and the Real Balance Effect, Approaches of Baumol and Tobin; Friedman and the modern quantity theory; Crisis in Keynesian economics and the revival of monetarism. 4 : Theory of Inflation Classical, Keynesian and Monetarist approaches to inflation; Structuralist theory of inflation; Philips curve analysis — Short run and long run Philips curve; Samuelson and Solow — the natural rate of unemployment hypothesis; Tobin’s modified Philips curve; Policies to control inflation. 5 : Business Cycles Theories of Schumpeter, Keyne’s, Kaldor, Samuelson and Hicks, Goodwin’s model; Control of Business Cycles — relative efficacy of monetary and fiscal policies. 30 BASIC READING LIST ıAckley,G. (1978), Macroeconomics : Theory and Policy, Macmillan, New York. ıBlackhouse, R. and A. Salansi (Eds.) (2000), Macroeconomics and the Real World (2 Vols.),Oxford University Press, London. ıBranson, W.A. (1989), Macroeconomic Theory and Policy, (3rd Edition), Harper and Row,New York.. ıD’souza Errol (2008) Macroeconomics : Person Publication, New Delhi. ıDornbusch, R. and F. Stanley (1997), Macroeconomics, McGraw Hill, Inc., New York. ıHall, R.E. and J.B. Taylor (1986), Macroeconomics, W.W. Norton, New York. ıHeijdra, B.J. and V.P. Fredericck (2001), Foundations of Modern Macroeconomics, OxfordUniversity Press, New Delhi. ıJha, R. (1991), Contemporary Macroeconomic Theory and Policy, Wiley Eastern Ltd., NewDelhi. ıRomer, D.L. (1996), Advanced Macroeconomics, McGraw Hill Company Ltd., New York. ıScarfe, B.L. (1977), Cycles, Growth and Inflation, McGraw Hill, New York. ıShapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New Delhi. ıSurrey, M.J.C. (Ed.) (1976), Macroeconomic Themes, Oxford University Press, Oxford. ADDITIONAL READING LIST ıEdey, M. and A.T. Peacock (1967), National Income and Social Accounts, Hutchinson University Library, London. ıPowelson, J.P. (1960), National Income And Flow of Funds Analysis, McGraw Hill, NewYork. ıRao, V.K.R.V. (1983), India’s National Income : 1950 to 1980, Sage Publications, New Delhi. 31 ıRuggles, R. and N. Ruggles (1956), National Income Accounts and Income Analysis, McGraw Hill, New York. ıUnited Nations (1974), Year Book of National Account Statistics. ıDuesenberry, J.S. (1949), Income, Saving and the Theory of Consumer Behaviour. Harvard University Press, Harvard. ıFriedman, M. (1957), The Theory of Consumption Function, Princeton University Press, Princeton. ıKeynes, J.M. (1936), The General Theory of Employment, Interest and Money, Macmillan, London. ıMueller, M.G. (1966), Readings in Macroeconomics, Holt Rinehart and Winston, New York. ıGordon, R. and S.G. Harris (1998), Macroeconomics, Addison Wesley. ıCulbertson, J.M. (1968), Macroeconomic Theory and Stabilization Policy, McGraw Hill, Kogenkosh, Tokyo. ıChakravarty, S.C. (1985), Report of the Committee to Review the Working of the Monetary System, Reserve Bank of India, Bombay. ıGupta, S.B. (1995), Monetary Planning in India, Oxford University Press, New Delhi. ıGurley, J. and E.S. Shaw (1960), Money in a Theory of Finance, Brookings Institution, Washington. ıMckinen, G.E. (1978), Money, The Price Level and Interest Rates, Prentice Hall of India, New Delhi. ıReddy, Y.V. (2000), A Review of Monetary and Financial Sector Reforms in India — A Central Banker’s Perspective, UBSPD, New Delhi. ıFriedman, M. (1956), Studies in the Quantity Theory of Money, The University of Chicago Press, Chicago. ıKeynes, J.M. (1936), The General Theory of Employment, Interest and Money Macmillan, London. ıLaidler, D.E.W. (1977), Demand for Money : Theory and Evidence, Dum- Don Valley, New York. ıMckinen, G.E. (1978), Money, The Price Level and Interest Rates, Prentice Hall of India, New Delhi. ıLeijonhufvud, A. (1968), On Keynesian Economics and Economics of Keynes, Oxford University Press, London. ıLevacic, R. and A. Rebman (1986), Macroeconomics : An Introduction to Keynesian and Neo-classical Controversies, Macmillan, London. ıMankiw, N.G. and D. Romer (Eds.) (1991), New Keynesian Economics, (2 Vols.), MIT Press, Cambridge. ıRakshit, M. (1998), Studies in the Macroeconomics of Developing Countries, Oxford University Press, New Delhi. 32 ıFriedman, M. (1956), Studies in the Quantity Theory of Money, The University of Chicago Press, Chicago. ıHicks, J.R. (1974), The Crisis in Keynesian Economics, Oxford University Press, New Delhi. ıJha, R. (1999), Contemporary Macroeconomic Theory and Policy, New Age International (P) Ltd., New Delhi. ıLaidler, D.F.W. (1977), Demand for Money : Theory and Evidence, Dum- Don Valley, New York. ıLeijonhufvud, A. (1968), On Keynesian Economics and Economics of Keynes, Oxford University Press, London. ıPatinkin, D. (1965), Money, Interest and Prices, Harper and Row, New York. ıGordon, R. and S.G. Harris (1998), Macroeconomics, Addison Wesley, Massachusetts. ıMankiw, N.G. and D. Romer (Eds.) (1991), New Keynesian Economics, (2 vols.), MIT Press, Cambridge. ıFrisch, H. (1983), Theories of Inflation, Cambridge University Press, Cambridge. ıHagger, A.J. (1977), Inflation : Theory and Policy, Macmillan, London. ıHudson, J. (1982), Inflation : A Theoretical Survey and Synthesis, George Allen and Unwin, London. ıSheffrin, S.M. (1996), Rational Expectations, Cambridge University Press, Cambridge. ıGordon, R.A. (1961), Business Fluctuations, Harper and Row. ıGordon, R.A. and L.R. Klein (Eds.) (1965), Readings in Business Cycles, Irwin, Homewood. ıHicks, J.R. (1950), A Contribution to the Theory of Trade Cycles, Clarendon Press, Oxford. ıLucas, R. (1981), Studies in Business Cycle Theory, M.I.T. Press, Cambridge, Masscechusetts. ıTaylor, L. (1983), Structuralist Macroeconomics, Basic Books, New Longman. ıTurnovsky, S.J. (1977), Macroeconomic Analysis and Stabilization Policy, Cambridge University Press, Cambridge. 33 EC - 402 Economics of Development 1: Social and Institutional Aspects of Growth Perpetuation of underdevelopment; Poverty — Absolute and relative; Quality of life - Food security, education, health and nutrition; Human resource development; Population problem and growth pattern of population- Theory of demographic transition; Population as limits to growth as ultimate source 2: Approaches to Development Partial theories of growth and development — vicious circle of poverty, circular causation, unlimited supply of labour, big push, balanced growth, unbalanced growth, critical minimum effort thesis, low-income equilibrium trap; Dualism — technical, behavioral and social; Ranis and Fei model; Dixit and Marglin model, Kelly et. al. Model; Dependency theory of development; Structural view of development. 3: Sectoral Aspects of Development Role of agriculture in economic development; Efficiency and productivity in agriculture, New technology and sustainable agriculture; Globalization and agricultural growth; Rationale and pattern of industrialization in developing countries; The choice of techniques and appropriate technology and employment; Efficiency of small-scale vs. large-scale production; Terms of trade between 34 agriculture and industry; Infrastructure and its importance; Labour markets and their functioning in developing countries. 4: Trade and Economic Development International trade as engine of growth; Static and dynamic gains from trade; Prebisch, Singer and Myrdal theories vs. free trade; Export-led growth; Dual gap analysis. 5: Macroeconomic Policies and Development Role of monetary and fiscal policies in developing countries — Prior savings, inflation and growth — Empirical evidence; External resources — FDI, aid vs. trade, technology inflow; MNC activity in developing countries; Borrowings — domestic and external; Burden of borrowing BASIC READING LIST ıAdelman, I. (1961), Theories of Economic Growth and Development, Stanford University Press, Stanford. ıBehrman, S. and T.N. Srinivasan (1995), Handbook of Development Economics, Vol. 3, Elsevier, Amsterdam. ıBrown, M. (1966), On the Theory and Measurement of Technical Change, Cambridge University Press, Cambridge, Mass. ıChenery, H. and T.N. Srinivasan (Eds.) (1989), Handbook of Development Economics, Vols.1 & 2, Elsevier, Amsterdam. ıDasgupta, P. (1993), An Enquiry into Well-being and Destitution, Clarendon Press, Oxford. ıGhatak, S. (1986), An Introduction to Development Economics, Allen and Unwin, London. ıGillis, M., D.H. Perkins, M. Romer and D.R. Snodgrass (1992), Economics of Development, (3rd Edition), W.W. Norton, New York. ıGimmell, N. (1987), Surveys in Development Economics, Blackwell, Oxford. ıHiggins, B. (1959), Economic Development, W.W. Norton, New York. ıHogendorn, J. (1996), Economic Development, Addison, Wesley, New York. ıKahkonon, S. and M. Olson (2000), A New Institutional Approach to Economic Development, Vistaar. ıKindleberger, C.P. (1977), Economic Development, (3rd Edition), McGraw Hill, New York. ıMeier, G.M. (1995), Leading Issues in Economic Development, (6th Edition), Oxford University Press, New Delhi. ıMyint, Hla (1965), The Economics of Underdeveloped Countries, Preager, New York. ıMyint, H. (1971), Economic Theory and Underdeveloped Countries, Oxford University Press, New York. ıTodaro, M.P. (1996), (6th Edition), Economic Development, Longman, London. 35 ADDITIONAL READING LIST ıBarrell, R., G. Mason and M.O. Mahoney (2000), Productivity, Innovation and Economic Performance, Cambridge University Press, Cambridge. ıHayami, Y. (1997), Development Economics, Oxford University Press, New York. ıTaylor, L. (1979), Macro Models for Developing Countries, McGraw Hill, New York. ıTherberge, J.D. et. al. (1968), Economics of Trade and Development, John Wiley, New York. ıDasgupta, P. (1993), An Enquiry into Well-being and Destitution, Clarendon Press, Oxford. ıHirsch, A.O. (1958), The Strategy of Economic Development, Yale University Press, New York. ıMehrotra, S. and J. Richard (1998), Development with a Human Face, Oxford University Press, New Delhi. ıMeier, G.M. and D. Seers (Eds.) (1987), Pioneers in Development, Oxford University Press, NewYork. ıMyrdal, G. (1957), Economic Theory and Underdeveloped Regions, Duckworth, London. ıSchumpeter, J.A. (1949), The Theory of Economic Development, Harvard University Press, Cambridge, Mass. ıTodaro, M.P. (1971), Development Planning : Models and Methods, Oxford University Press, Oxford. ıUnited Nations (1994), Human Development Report, United Nations, New York. ıCampbell, N. and F. Burton (Eds.) (1994), Japanese Multinationals, Routledge, New York. ıDasgupta, P., A.K. Sen and S. Marglin (1972), Guidelines for Project Evaluation, UNIDO, Vienna. ıHirsch, A.O. (1958), The Strategy of Economic Development, Yale University Press, New York. ıMehrotra, S. and J. Richard (1998), Development with a Human Face, Oxford University Press, New Delhi. ıMyrdal, G. (1957), Economic Theory and Underdeveloped Regions, Duckworth, London. ıRanis, G. and A. Mahmood (1992), Political Economy for Development, Blackwell, Cambridge Mass. ıSen, A. (1992), Inequality Reexamined, Oxford University Press, Oxford. ıUnited Nations (1994), Human Development Report, United Nations, New York. ıBhagwati, J. and P. Desai (1970), India : Planning for Industrialization, Oxford University Press, London. ıGrossman, G. and E. Helpman (1991), Innovation and Growth in the Global Economy, MIT Press, Cambridge, Mass. 36 ıNayyar, D. (Ed.) (1994), Industrial Growth and Stagnation : The Debate in India, Oxford University Press, New Delhi. ıTodaro, M.P. (1971), Development Planning : Models and Methods, Oxford University Press, Oxford. ıWeiss, J. (1988), Industry in Developing Countries, Croom Helm, London. ıHayami, Y. (1997), Development Economics, Oxford University Press, New York. ıHayami, Y. and M. Akoi (Eds.) (1998), The Institutional Foundations of East Asian Economic Development, Macmillan, London. ıKillick, T. (1995), IMF Programmes in Developing Countries : Design and Impact, Routledge, London. ıLittle, I.M.D. (1982), Economic Development : Theory and International Relations, Basic Books, New York. ıMason, M. (1992), American Multinationals and Japan, Harvard University Press. ıTherberge, J.D. (Ed.) (1968), Economics of Trade and Development, John Wiley, New York. ıBrahmananda, P.R. and C.N. Vakil (1956), Planning for an Expanding Economy, Vora and Co., Bombay. ıChakravarti, S. (1987), Development Planning : The Indian Experience, Clarendon Press, Oxford. ıGupta, S.B. (1988), Monetary Economics : Institutions, Theory and Policy, S. Chand and Co., New Delhi. ıJadhav, N. (1995), Monetary Economics for India, Macmillan, New Delhi. ıKillick, T. (1995), IMF Programmes in Developing Countries : Design and Impact, Routledge, London. ıLittle, I.M.D. (1982), Economic Development : Theory and International Relations, Basic Books, New York. ıMason, M. (1992), American Multinationals and Japan, Harvard University Press, Cambridge,Mass. ıMehrotra, S. and J. Richard (1998), Development with a Human Face, Oxford University Press, New Delhi. 37 ıTherberge, J.D. (Ed.) (1968), Economics of Trade and Development, John Wiley, New York. ıWorld Bank (1993), East Asian Miracle, World Bank Report, Washington D.C. ıWorld Bank (1994), Infrastructure and Development, World Bank, Washington D.C. ıUnited Nations (1994), Human Development Report, United Nations, New York. ıBhagwati, J. and P. Desai (1970), India : Planning for Industrialization, Oxford University Press, London. ıBrahmananda, P.R. and C.N. Vakil (1956), Planning for an Expanding Economy, Vora and Co., Bombay. ıChakravarti, S. (1987), Development Planning : The Indian Experience, Clarendon Press, Oxford. ıMehrotra, S. and J. Richard (1998), Development with a Human Face, Oxford University Press, New Delhi. ıThirlwal, A.P. (1974), Inflation, Saving and Growth in Developing Economies, Macmillan,London. ıTodaro, M.P. (1971), Development Planning : Models and Methods, Oxford University Press, Oxford. EC- 403 INTERNATIONAL ECONOMICS 1. Theories of International Trade Comparative Cost advantage, Heckscher-Ohlin theory of trade and Neo Heckcher- Ohlin theorem. Kravis, Samuelson’s Factor Price Equalization Theory, Linder theory of trade. Leontief paradox, Stoper-Samuelson’s theorem, New Theories of Intra- industry trade and economies of Scale. 2. Terms of trade and Determination of Exchange Rate Concept and types of terms of trade. Terms of trade and Less developed countries. Theories of exchange rate determination, Fixed and Flexible Exchange control – meaning objectives & methods of exchange control. Meaning types and effects of tariffs and Non-tariff barriers. 3. Balance of Payments Meaning and components of balance of payments; Theories of balance of payments, Equilibrium and disequilibrium in the balance of payments. 4. Trade policies in India Recent changes in the direction and composition of trade and their implications. Instruments of export promotion, Recent import and export policies. 5. International Financial Movements International trade and financial institutions – IMF, World Bank & WTO. Foreign investment and their impact on the Indian Economy. Role of Multinational corporation. 39 BASIC READING LIST ıBhagwati, J. (Ed.) (1981), International Trade, Selected Readings, Cambridge, University Press, Massachusetts. ıCarbough, R.J. (1999), International Economics, International Thompson Publishing, New York. ıPaul R. Krugman & Maurice Obstfeld (2009) International Economics Theory and Policy. Pearson Education Publication New Delhi ıChacholiades, M. (1990), International Trade : Theory and Policy, McGraw Hill, Kogakusha, Japan. ıDana, M.S. (2000), International Economics : Study, Guide and Work Book, (5th Edition), Routledge Publishers, London. ıDunn, R.M. and J.H. Mutti (2000), International Economics, Routledge, London. ıKenen, P.B. (1994), The International Economy, Cambridge University Press, London. ıKindleberger, C.P. (1973), International Economics, R.D. Irwin, Homewood. ıKing, P.G. (1995), International Economics and International Economic Policy : A Reader, McGraw Hill International, Singapore. ıKrugman, P.R. and M. Obstfeld (1994), International Economics : Theory and Policy, Glenview, Foresman. ıSalvatore, D. (1997), International Economics, Prentice Hall, Upper Saddle River, N.J., New York. ıSoderston, Bo (1991), International Economics, The Macmillan Press Ltd., London. ADDITIONAL READING LIST ıCorden, W.M. (1965), Recent Developments in the Theory of International Trade, Princeton University Press, Princeton. ıGreenway, D. (1983), International Trade Policy, Macmillan Publishers Ltd., London. ıAggarwal, M.R. (1979), Regional Economic Cooperation in South Asia, S. Chand and Co.,New Delhi. ıBarrow, R.J. (1993), Macro Economics, 4th Edition, John Wiley, New York. ıBhagwati, J. (1988), Protectionism, Cambridge University Press, Mass. ıClement, M.O., R.L. Pffister and K.J. Rothwell (1969), Theoretical Issues in International Economics, Cosntable Publication, London. ıCorden, W.M. (1974), Trade Policy and Economic Welfare, Clarendon Press Oxford. ıGoldstein, M. (1998), The Asian Financial Crisis : Causes, Cure and Systematic Implication, Institute for International Economics, Washington, ıJackson, J. (1989), The World Trading System, Cambridge University Press, Mass. ıPomfrert, R. (1988), Unequal Trade : The Economics of Discriminatory International Trade Policies, Blackwell Publishers, Oxford. ıCrockett, A. (1982), International Money : Issues and Analysis, The ELBS and Nelson |