B.A. ECONOMICS : SEMESTER II Core 02 ELEMENTS OF ECONOMIC THEORY II
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1 UNIT I : Factors of Production Core 02 ELEMENTS OF ECONOMIC THEORY II [Paper Code : AB2C02EC0N] Land, Features, Old and Modern Versions of Laws of Returns Labour : Characteristics, Division of Labour (Types, Merits & Demerits), Theories of Population Capital : Meaning, Features, Types & Importance of Capital, Capital formation Forms of Business Organisation: Functions of an Organizer. UNIT II : Theory of Distribution Functional Vs. Personal Distribution of Income Wages: Marginal Productivity Theory of Wages, Wage Differentials Interest : Elements of Interest, Theory of Interest Rate Determination Rent : Concept of Economic Rent Ricardian Vs. Modern theory of Rent Profit : Gross Profits and Net Profits, Theories of Profit. UNIT III : Money and Banking Difficulties of Barter System, Money : Meaning, Types & Functions Value of Money- Quantity Theory of Money : American & Cambridge Versions Inflation : Causes & Consequences, Deflation, Banking : Functions of Commercial Banks and Functions of Central Bank. UNIT IV : International Trade and Finance Principles of Public Finance, Sources of Revenue, Types of Taxes, Types of Government Expenditure Concept of National Income and Its Components External Sector : Importance of International Trade, Balance of Payments and Foreign Exchange Rate. 1. K. K. Dewett & J. D. Verma : Elementary Economic Theory- Latest edition. 2. K. P. M. Sundaram : Elementary Economic Theory - Latest edition. 3. N. Gregory Mankiw(2002), Principal of Economics, 2 nd Edition, Thomson (India). 4. Paul. A. Samulson & Nordhans William D.(2009) : Economics 18 th Edition, Tata Mc Graw Hill Publishing Company Limited, New Delhi. 1
2 UNIT I : Factors of Production Allied 03 / 04 BASIC ECONOMICS II [Paper Code : AB1A03EC0N / AB1A04EC0N] Land : features of land, Raws of Returns Labour : Characteristics and Division of Labour, Merits and Demerits of Division of Labour, Theories of population Capital : Importance of capital, capital formation Organization : Functions of organizer UNIT II : Theory of Distribution Functional Vs. Personal Distribution of Income Marginal productivity Theory of wages Rent : Concepts of Economic Rent, Ricardian Theory of Rent Interest : Elements of interest, Theory of Interest Rate Determination Profit: Gross profit and Net profit UNIT III : Money and Banking Difficulties of Barter System Money : Meaning and Types of Money, Functions of Money Inflation: Causes and consequences of inflation Banking : Functions of commercial Banks and Functions of Central Bank UNIT IV : International Trade and Finance Principles of Public finance, Sources of Revenue, Types of Taxes, Types of Government Expenditure Concepts of National Trade, Balance of payments and Foreign Exchange Rate References [All Latest Editions wherever applicable] 1. K. K Dewett & J. D. Verma: Elementry Economic Theory (Latest Edition) 2. K. P. M. Sunderam : Elementary Economic Theory 3. H. L. Ahuja : Principles of Economics 4. Paul A. Samulson : Economics 2
3 Interdisciplinary Elective 02 INDIAN ECONOMY [Paper Code : AB2I02EC0N] Course Outline: UNIT I : Structure of Indian Economy Demographic Profile Growth, Age and Gender, rural urban distribution; National Population Policy (2000); Natural Resources and their role in development of Indian Economy Land, Forest, Water, Fisheries, Mineral Resources Problem and Issues; National Income and Poverty. UNIT II : Agriculture Place of Agriculture in the Indian Economy. Green Revolution, Land Reform Measures, Agricultural Labour, Agricultural Credit: Forms and Major Credit Institutions. UNIT III : Industry Role and Pattern of Industrialization during 5 years plans. Small-scale industries: Role, Problem Measures adopted, Industrial Labour-Features, Problems and Measures. Liberalization and Privatization Measures, Industrial Policy of UNIT IV : Tertiary Sector Composition and direction of foreign trade; Indian Financial System: Features, Structure Composition; Classification of Banks; Banking Sector Reforms. Centre-State Financial Relations. 1. Ishwar C. Dhingra - The Indian Economy, Tata McGraw-Hill Publishing Company Ltd. Delhi. 2. Gaurav Dutt and A. Mahajan (Latest Edition) - Dutt and Sundharam s Indian Economy, Sultan Chand & Sons Publications. 3. Misra and Puri - Indian Economy, Himalaya Publication House 3
4 UNIT I : Conceptual Framework Foundation 06 (Value Oriented) BASIC ENVIRONMENTAL ECONOMICS [Paper Code : AB2F06EC0N] Economics, Environment, Ecology and Development Traditional and Modern Views of Development concepts of sustainable development and human development UNIT II : Introduction to Environmental Economics Subject Matter, Nature and Scope of Environmental Economics Resource Economics Natural resource categories Environment-economy linkages UNIT III : Environmental Valuation Concept of Total Economic Value Need for environmental valuation Approaches to environmental valuation : direct and indirect concept and meaning of environmental accounting UNIT IV : Environmental Issues Types and nature of environmental problems environmental education environmental management and governance policy and legislations environmental initiatives : national and global 1. Muralivallabhan, Sheeba and Thomson (2012) Environmental Economics : Foundations of Environmental Economics, Pratibha Publishers, Kerala. 4
5 Foundation 07 (Social Sciences) EVERYDAY ECONOMICS [Paper Code : AB2F07EC0N] Course Outline: UNIT I : Microeconomics Households, firms, markets and their functions, Science and technology as Institutions. UNIT II : Macroeconomics Basics terms, national income and related concepts, alternative indicators of economic progress. Inequality and related concepts. UNIT III : Social well being and Democratic Government Individual and social well being, equality and exclusion, efficiency and trade off, functions of welfare government. Socialism. UNIT IV : Globalization [15 Hours] Open and close economy, process and nature of globalization, benefits and other issues of livelihood- prosperity, deregulation, exclusion, economic disparities, Economic crisis. References [All Latest Editions wherever applicable] 1. Partha Dasgupta, Economics-A Very Short Introduction, Oxford Uni. Press, Manfred Steger, Globlisation, Oxford Univ. Press J S Mill, Representative Government, ebook@adlaide Michael Newman, Socialism, Oxford University Press. 5
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