University of Burdwan
Department of Economics
Structure and Syllabus for PhD Coursework in Economics
2010 Session onwards
As decided by appropriate authorities, the coursework for PhD shall comprise of 200 marks
spread over One semester. The Structure and Detail Syllabus follows.
A.
The PhD Coursework shall follow the following structure:
Papers
ECN 601
Compulsory Paper
Description
Marks
Research Methodology
(including Computer Applications)
Written: 80
Internal: 20
Total: 100
TERM PAPER / OPTIONAL PAPER
Candidates are to write One Term Paper
OR
Select any one paper from:
 Advanced Economic Theory
 Agricultural Economics
ECN 602
 Demography
100
 Economics of Human Resources
 Economics of Infrastructure and Development
Optional Paper
 Financial Economics
 History of Economic Thought
 International Economics
 Labour Economics
 Monetary Economics
 Political Economy of Development
 Regional Development in India
 Resource Economics and Sustainable
Development
 Social Choice Theory
Total
200
B. For ECN 601, Research Methodology, there shall be a written examination of 80 marks along
with Internal Assessment of 20 marks for the Computer Applications part.
C. For ECN 602, Optional Paper, Candidates shall either have to select one optional paper, attend
classes and sit for written examination OR have to submit One Term Paper (mainly on Literature
Survey) on a topic as decided by the RAC in consultation with the Supervisor. The RAC shall
decide whether Optional papers shall be offered to any candidate or whether Term Paper has to be
submitted. The Term Paper shall be examined by the Supervisor and an External Examiner
following procedure laid down by appropriate authorities.
1
PhD in Economics
Detail Syllabus
Compulsory Paper
ECN 601
Research Methodology
(including Computer Applications)
(100 Marks - 60 Lecture Hours)
This paper is compulsory for PhD students.
Group-A
(40 Marks – 24 Lecture Hours)
This group has two modules. Candidates are to answer questions from any One Module.
Module – I
Core Methodologies for Empirical Research
1.
Sampling Techniques
(i) Basic principles of sample survey;
(ii) Different steps in a large scale sample survey;
(iii) Randomness and bias;
(iv) Techniques of Random sampling;
(v) Optimum allocation of sample size;
(8 Lecture Hours)
2.
Specification and Hypothesis Testing
(8 Lecture Hours)
(i) Functional Forms in Regression Models – Choosing Appropriate Functional
Forms using economic logic and Graphical approach; Tests of Specification Bias;
Tests of Structural Shifts;
(ii) Linearisation of non-linear functions and their estimation – Interpretation of
linear, logarithmic and semi-logarithmic relationships;
(iii) Comparison of the goodness of fit for different structural forms – Box-Cox
method;
(iv) Regression with Outliers – Robust regression methods – Weighted least squares.
(v) Hypothesis Testing – Types of Data; Types of Relationship; Parametric Tests;
Non-Parametric Tests.
3.
Advanced Multivariate Techniques
(8 Lecture Hours)
(i) Data Reduction – Principal Component Analysis;
(ii) Multiple Regression in presence of Multicollinearity – Canonical Discriminant
Analysis;
(iii) Grouping of Observations – Cluster Analysis.
2
Module – II
Core Methodologies for Theoretical Research
1.
Basic Mathematical Foundations
(8 Lecture Hours)
(i) Linear algebra;
(ii) Differential calculus of functions of several variables,
(iii) Elementary real analysis;
2.
Constrained Maximization;
(8 Lecture Hours)
3.
Optimisation Techniques;
(i) Static Optimisation
(ii) Dynamic Optimisation;
(8 Lecture Hours)
Group-B
(40 Marks – 24 Lecture Hours)
This group has TEN modules. Candidates are to answer questions from any One Module.
Module – I
Qualitative Variables
1.
Binary Choice Models
(8 Lecture Hours)
The Linear Probability Model; Binomial Probit; Binomial Logit; Assumptions;
Maximum Likelihood estimation methods; Interpretation of coefficients; Constructing
probabilities; Restrictions and limitations; Marginal Effects; Measuring Goodness of
Fit; Testing parameter restrictions.
2.
Multiple Discrete Choice Models
(8 Lecture Hours)
Ordered Probit / Logit; Sequential Probit / Logit; Methods of estimation; Multinomial
Logit (MNL); the Independence of Irrelevant Alternatives (IIA) assumption;
Multinomial Probit models; Measuring Goodness of Fit; Testing assumptions;
Application of Multinomial Logit Models.
3.
Truncated and Censored Models
(24 Lecture Hours)
Sample selection bias; the truncated regression model; marginal effects; the Tobit
model; interpretation of Tobit model coefficients; testing for normality; limitations of
the Tobit model; Selectivity and Heckman Filter model; two-step and full-information
estimation methods; interpretation of model coefficients; diagnostic testing;
3
Module – II
Multivariate Time Series Analysis
1.
ARIMA Modelling
(8 Lecture Hours)
(i) Testing for Stationarity – Stationary, TSP and DSP;
(ii) Determining Order of Integration - Checking for Cointegration;
(iii) Box-Jenkins methodology of Identification, Estimation and Diagnostic Checking
of ARIMA Models;
2.
Causality Tests and Vector Auto Regression
(8 Lecture Hours)
(i) Granger Causality
(ii) Vector Auto Regression (VAR) – Strength of Causality – Impulse Response
Function – Variance Decomposition;
3.
Long Run Relationships
(8 Lecture Hours)
(i) Vector Error Correction (VEC) Models – Long Run Multipliers – Impact Factors
(ii) Spline Function and Dynamics of Relationship.
Module – III
Panel Data Models
1.
Working with Panel Data
(8 Lecture Hours)
(i) General definitions – Balance and Unbalanced Panel; Pooled Regression
2.
Fixed Effects and Random Effects Panel Data Models
(8 Lecture Hours)
3.
Methods of Estimation & Diagnostic Testing
(8 Lecture Hours)
Module – IV
Nonparametric and Semiparametric Estimation
1.
Basic Concepts
(2 Lecture Hours)
2.
Techniques
(14 Lecture Hours)
(i) Kernel Density Estimation;
(ii) Nadaraya-Watson nonparametric regression function; bandwidth selection;
average derivative estimation;
(iii) Bootstrap methods and confidence bands;
3.
Semiparametric estimation and Partially linear models
(8 Lecture Hours)
4
Module – V
Estimation of Efficiency and Inefficiency
1.
Definitions & Concepts
(4 Lecture Hours)
(i) Definitions of technical and scale inefficiency;
(ii) Input and output orientations (using functional relationships); Use of production &
distance functions (graphical, mathematical, programming specifications)
(iii) Efficiency Indicators and Indexes: Farrell’s Approach
2.
Estimation of Efficiency
(10 Lecture Hours)
(i) Deterministic Frontier Models: (a) Linear and Quadratic Programming Method (b)
COLS (c) MOLS
(ii) Stochastic Frontiers Analysis (SFA) – Measuring Frontier Cost, Profit,
Production, Revenue and distant functions; Panel data SFA
3.
Data Envelopment Analysis & TFPG
(10 Lecture Hours)
(i) Returns to scale and input congestion – Scale Efficiency; Allocative Efficiency;
(ii) Measurement of TFPG – Traditional Approach (Kendric, Solow etc); Parametric
approach using Frontier approach; Non-parametric approach (Malmquist);
Measuring Augmented Technical changes
Module – VI
General Equilibrium Theory
1.
The basic model of a competitive economy
(8 Lecture Hours)
2.
Walrasian equilibrium and Edgeworth Boxes
(8 Lecture Hours)
3.
Fundamental Theorems of Welfare Economics
(8 Lecture Hours)
Module – VII
Noncooperative Game Theory
1.
Normal Form Games
(8 Lecture Hours)
2.
Games in strategic form
(i) Dominance
(ii) Nash equilibrium
(iii) Mixed Strategies
(iv) Applications
(8 Lecture Hours)
3.
Extensive Form Games & Bargaining
(8 Lecture Hours)
(i) Strategic, Backward Induction
(ii) Subgame Equilibrium
(iii) Basics of Repeated Games
(iv) Bargaining problem (Nash solution, overview of other models);
(v) Applications
5
Module – VIII
Cooperative Game Theory
1.
Cooperative games and the core
(i) Examples
(ii) Models and terminology;
(8 Lecture Hours)
2.
Trade Union games
(8 Lecture Hours)
(i) Solutions for TU games
(ii) Shapley value, TU games and communication networks
3.
Applications
(8 Lecture Hours)
Module – IX
Theory of Auctions
1.
Introduction & Types of Auction
(8 Lecture Hours)
2.
Analysis of the Auctions and Private Values
(8 Lecture Hours)
3.
Applications
(8 Lecture Hours)
Module – X
Economics of Information
1.
Rational Expectations
(6 Lecture Hours)
2.
Adverse Selection and the Principal-Agent Problem
(6 Lecture Hours)
3.
The market for lemons
(6 Lecture Hours)
4.
Market Signalling & Market Screening
(6 Lecture Hours)
Group-C
(20 Marks – 12 Lecture Hours)
This group is based on Computer Applications. Candidates are to complete assignment
given to them and present the assignment in front of an examination panel formed by
RAC. This will be assessed internally.
1.
Computer Usage – Basics
2.
Programs for Document Preparation, Calculations, and Presentation
3.
Statistical & Mathematical Programs
6
References for Group-A and Group-B
Empirical Methods
Amisano, Gianni and Carlo Giannini (1997) - Topics in Structural VAR Econometrics, 2nd
ed, Springer
Angrist, Joshua D. and Jorn-Steffen Pischke (2008), Mostly Harmless Econometrics: An
Empiricist's Companion [PB], Princeton University Press
Coelli T.J., Estache A., Perelman S. and Trujillo L. (2003), A Primer on Efficiency
Measurement for Utilities and Transport Regulators, World Bank Publications,
Washington.
Cooper, W.W., L. M. Seiford, and K. Tone, Data Envelopment Analysis: A Comprehensive
Text with Models, Applications, References and DEA-Solver Software, Kluwer
Academic Press, 2000.
Daraio, C. and L. Simar, Advanced Robust and Nonparametric Methods in Efficiency
Analysis: Methodology and Applications, Springer Science & Business Media,
New York, 2007.
Enders, Walter – Applied Time Series Econometrics.
Gujarati (2008) - Basic Econometrics, Tata McGraw Hill;
Hardle, W. (1990), Applied Nonparametric Regression, Econometric Society Monographs,
Cambridge
Jacobs R., Smith P.C. and Street A. (2006), Measuring Efficiency in Health Care. Analytic
Techniques and Health Policy, Cambridge University press, Cambridge, UK.
Johnston and Dinardo, (1997), Econometrics Methods, 4th edition, McGraw Hill
International Edition.
Judge, George G., W. E. Griffiths, R. Carter Hill, Helmut Lütkepohl, and Tsoung-Chao Lee
(1985). The Theory and Practice of Econometrics, 2nd edition, John Wiley &
Sons.
Klecka, W. R. (1980) - Discriminant Analysis, (Sage University Paper Series on Quantitative
Applications in the Social Sciences, No. 07-119), Sage, Beverly Hills, CA.
Kumbhakar, S. and C.A.K. Lovell, Stochastic Frontier Analysis, Cambridge University Press,
2000.
Kundu, Amitabh (1980), Measurement of Urban Process - A Study in Regionalisation,
Popular Publishers, Bombay.
Lütkepohl, Helmut (1991). Introduction to Multiple Time Series Analysis, Springer-Verlag.
M. Farrell, ‘The Measurement of Productive Efficiency,’ Journal of the Royal Statistical
Society, Series A, 1957, 120(3):253-290.
Maddala, G.S (1983), Limited-Dependent and Qualitative Variables in Econometrics,
Econometric Society Monographs, Cambridge
Maddala, G.S. (1997) - Econometrics, Mc Graw Hill, N.Y.
Mills, T.C. ( 1991) - Time Series Techniques for Economists, CUP
R. Färe and S. Grosskopf, New Directions: Efficiency and Productivity, Springer Verlag,
2005.
Stock, James H. and Mark W. Watson (2007), Introduction to Econometrics, 2/E, Pearson
T. Coelli, D.S. Prasado Rao, Christopher O’Donnell, G. E. Battese, An Introduction to
Efficiency and Productivity Analysis, second edition, Springer Science &
Business Media, New York, 2005.
7
Theoretical Methods
Allen, R. G. D. (1974) Mathematical Analysis for Economists, Macmillan Press and ELBS.
London
Apostol, T.M. (1974) – “Mathematical Economics”, 2nd edition, Addison Wesley
Archibald, G.C. & R.G. Lipsey (1976) – “An Introduction to Mathematical Economics-Methods and Applications”, Harper and Row.
Baumol, W. J. (1984) Economic Theory and Operations Analysis, Prentice Hall, Englewood
Cliffs, New Jersey.
Chiang, A. C. and K Wainwright (2005) – “Fundamental Methods of Mathematical
Economics”, McGraw Hill, New York.
Chiang, A. C. (1992) – “Elements of Dynamic Optimization”, McGraw Hill.
Dixit, A.K. (1990) – “Optimization in Economic Theory”, Oxford University Press.
Dixit, A.K. and Susan Skeath (1999) – “Games of Strategy”, W. W. Norton & Company
Dorfman, R., P.A. Samuelson and R.M. Solow (1958) - Linear Programming and Economic
Analysis”, McGraw Hill
Fudenberg, D., and J. Tirole (1991) – “Game Theory”, MIT Press
Gibbons, Robert (1992) – “Game Theory for Applied Economists”, Princeton University
Press
Gravelle, H. and R. Rees (2004) – “Microeconomics”, 3rd Edition, Prentice Hall
Hadley, G. (1962) Linear Programming, Addison Wesley, Publishing Co. Massachusetts.
J.C. Hull (2002) – “Options, Futures & Other Derivatives”, Prentice-Hall of India : New
Delhi.
J.Y. Campbell, A.W. Lo and A.C. Mackinlay (1997) – “The Econometrics of Financial
Markets”, Princeton University Press : New Jersey, 1997.
Ken Binmore (1991) – “Fun and Games: A Text on Game Theory”, D. C. Heath and
Company
Kothari, C. R. (1992) – “An Introduction to Operations Research”, Vikas Publishing House,
New Delhi.
Lancaster, K. (1975) – “Mathematical Economics”,.
Avellaneda, Marco (ed) (2001) – “Quantitative Analysis in Financial Markets”, Vol. I, Vol.
II and Vol. III, World Scientific.
Mustafi, C. K. (1992) – “Operations Research Methods and Practice”, Wiley Eastern, New
Delhi.
Shy, Oz (1996) – “Industrial Organization: Theory and Applications”, MIT Press
Rosenlicht, Maxwell (1985) – “Introduction to Analysis”, Paperback, Dover Publications
Silberberg, E. (2000) – “The Structure of Economics: A Mathematical Analysis”, McGraw
Hill
Vygodsku, G. S. (1971) Mathematical Handbook (Higher Mathematics) Mir Publishers,
Moscow.
Yuh-Dauh Lyuu : Financial Engineering and Computation,Cambridge University Press.
8
PhD in Economics
Detail Syllabus
Optional Papers
ECN 602
Candidates are to write ONE Term Paper mainly on Literature Survey, topic for which
is to be selected by RAC in consultation with the Supervisor;
OR
Candidates are to select any ONE module from the fourteen modules given below:
(100 Marks - 60 Lecture Hours)
A. Advanced Economic
Theory
F. Financial Economics
K. Political Economy of
Development
B. Agricultural Economics
G. History of Economic
Thought
L. Regional Development
in India
C. Demography
H. International Economics
M. Resource Economics
and Sustainable
Development
D. Economics of Human
Resources
I. Labour Economics
N. Social Choice Theory
E. Economics of
Infrastructure and
Development
J. Monetary Economics
--------------------------------------------------
9
Module – A
ADVANCED ECONOMIC THEORY
(100 Marks)
1.
Adverse selection, Signalling and Screening
(12 Lectures)
Introduction- Informational Asymmetries and Adverse Selection-SignalingScreening.
2.
The Principal Agent Problem
(12 Lectures)
Introduction-Hidden action (Moral Hazard)-Hidden Information (and
Monopolistic Screening)-Hidden actions and Hidden Informatins (Hybrod
Models)
3.
Social Choice Theory
(12 Lectures)
Need for community decisions and its dilemma - Axiomatic treatment of
Individual preferences - Different definitions of Rationality - Choice sets,
Maximal sets and other related mathematical concepts - importance of
morality - “Rational Fools” - Pareto rules and its extensions - normative
evaluations of the existing public choice mechanisms - Arrow’s impossibility
and its extensions - Rights and justice - interest, well-being and advantage
4.
Axiomatic Bargaining Theory
(12 Lectures)
The Axiomatic Bargaining Approach - Nash Solution - Kalai-Smorodinsky
solution - Coalitional Bargaining and Shapley value.
5.
Dynamic Issues in Economics
(12 Lectures)
Intertemporal Choice - Intertemporal Production - Overlapping Generations Tâtonnement and Learning - Introduction to chaos theory - Some economic
models with chaos
References
Barro and Salai-Martin: Growth Theory
Bose, Rakshit and Sinha (eds): Issues in economic Theory and Public Policy
Mascollel, Whinston, Green: Microeconomic Theory
Mueller: Public Choice
Romer: Advanced Macro-economics
Ronald Shone: Economic Dynamics
Sen: Choice, welfare and Measurement
Sen: Collective Choice and social welfare
Varian: Microeconomics
10
Module – B
AGRICULTURAL ECONOMICS
(100 Marks)
1.
Importance of Agricultural Economics
(i) Agriculture and Economic Development
(ii) Future Role of Agriculture
(iii) Main Feature of Indian Agriculture and Agricultural Policy
(iv) Soil Erosion, Conservation, and Sustainable Agriculture.
(7 Lectures)
2.
Land Use
(i) Land Utilization & Cropping Pattern
(ii) Forest and Social Forestry
(iii) Operational Holdings
(iv) Fragmentation and Sub Division of Holdings
(v) Land Reforms
(8 Lectures)
3.
Agricultural Marketing and Pricing
(15 Lectures)
(i) Agricultural Price and Policy; Role of CACP; MSP and its impact
(ii) Agricultural Commodity Futures and Options; Nature and Principles of Future
Markets; Participants in Future Markets; Trading in the Presence of Risk
Aversions and Transaction Costs, Future Prices as Forecasts; Impact of Futures
Trading
(iii) Agro-processing as Marketing Strategy; Specificities of Agro-processing,
Developmental Role of Agro-processing Industries, Selection and Evolution
Options; Food Processing Policy of India, 2005.
4.
Recent Issues in India Agriculture
(15 Lectures)
(i) Mechanization in Agriculture; Sources of Irrigation; Impact of Irrigation;
(ii) Agricultural Finance: Agency Relationship, Adverse Selection, Moral Hazards
and Enforcement Problem; Segmented Rural Credit Markets; Resolving
Information and Incentive Problems; Managing Borrowers’ Credit Risks,
Agribusiness and Trade Financing and Role of Social Capital;
(iii) Taxation on Agricultural Income;
(iv) Role of NABARD;
5.
Farm Management
(i) Farm Organization
(ii) Farm Planning & Budgeting
(iii) Co-operative farming
(5 Lectures)
6.
Political Economy of Global Agricultural Economics
(i) Protection across countries and sectors
(ii) Influence of global financial and political institutions;
(iii) Collective actions of lobbying groups
(iv) Use of inefficient instruments and rent seeking;
(v) Public investment in agricultural research and TRIPS.
(10 Lectures)
11
References
Agrawal, A.N. : Indian Agriculture
Bruce L. Gardner and Gordon C. Rausser (2002): Handbook of Agricultural Economics,
Vol-1A,1B, 2A, 2B and 3; North-Holland, Amsterdam
Eicher, C.K. and L.W. Witt: Agriculture in Economic Development
Government of India (2004): State of the Indian Farmer : A Millennium Study, Academic
Foundation and Ministry of Agriculture, New Delhi, (Vol. 1-27)
Government of India (2005): Food Processing Policy, Ministry of Food Processing, New
Delhi.
James G. Brown and Deloitte and Touche (1994): Agro-industrial
Investment
and
Operations,
Washington, The World Bank.
Khusro, A.M. : Reading in Agricultural Development
Khusro, A.M. and A.N. Agrawal - The Problem of Co-operative Farming in India
Khusro, A.M.- The Economic of Land Reforms and Farm size
Radhakrishna R, S. K. Rao, S. Mahendra Dev and K Subbarao (2006):
India
in
a
Globalising World: Some Aspects of Macroeconomy, Agriculture and Poverty,
Academic foundation, New Delhi.
Sadhu & Singh : Agricultural Economics
T.W.Schultz (1981): Investing in Peoples: The Economics of
Population Quality,
University of California, Berkley.
Tygi, B.P. - Agricultural Economics & Rural Development
12
Module – C
DEMOGRAPHY
(100 Marks)
7.
Measurement of Population
(6 Lectures)
(i) Arithmetic growth - Geometric law of population growth - Exponential growth of
population - Logistic growth - Models of Population growth – Malthus Leibenstain - Models of Demography - the Stable Population Model.
8.
Fertility
(8 Lectures)
(i) Measures of fertility – CBR, GFR, TFR, cumulative fertility rate, child women
ratio, gross and net reproduction rate. The pattern of age specific fertility rates –
Pearsonian type 1 curve and its fertility projection potentials- Brass polynomial
Model-Coal Trussel Model- Easterlin’s and Becker’s theories of fertility and their
critical evaluation.
9.
Mortality
(10 Lectures)
(i) Basic measures – CDR, age specific death rate – Early neonatal, neonatal and
infant /child mortality rate – Brass technique-Coale and Russel Method-Preston
and Polloni Method.
10.
Life Table
(12 Lectures)
(i) Life table, complete and abridged life table and their construction – Models of life
table-UN Model tables-Coale and Demeny’s Model table-Brass Model. Trends of
mortality in developed and developing countries – Determinants of mortality.
11.
Migration and Urbanization
(12 Lectures)
(i) Definition and Concept-Measures of migration- internal migration- Residual
Method-Survival rate Method-Migration Rates and ratio’s- Estimation of
international migration – Migration Models-Ravenstein’s Law of Migration-Zipf’s
Gravity of Migration-Lee’s theory of Migration-Todaro Model- Stouffer’s Model
– L-F-R Model of Development theory-Cost-Benefit Model Analysis-MoverStayer Model of migration.
(ii) Urbanization, its measures - Urbanization and development – Historical patterns
for developing and developed countries – Factors promoting urbanization in the
developing countries – Problems of urbanization in less developed countries.
12.
Quantitative Techniques for Demography
(12 Lectures)
(i) Multivariate Regression analysis- Path Analysis-Cluster Analysis
References
1. Pathak, J.B and F. Ram: Techniques of Demographic Analysis, Himalaya Publishing
House
2. Saxena, P.C and P.P Talwar(edi) 1988 : Recent Advances in the Techniques for
Demographic Analysis, Himalaya Publishing House
3. Shryock, H., The Methods and Materials of Demography.
13
4. Bogue, D J., Principles of Demography
5. Barcley, G W., Techniques of Population Analysis
6. United Nations Publications, The Determinants and Consequences of population
Trends (Series No.50)
7. Coale, A. J. and E. M. Hoover, Population Growth and Economic Development in
Low Income Countries, Oxford University Press.
8. Becker, G. S., An Economic Analysis of Fertility in Demographic and Economic
Change in Developed Countries, A Report of NBER, Princeton University Press,
Princeton, 1960.
9. Easterlin, R. A., An Economic Framework for Fertility Analysis Studies in Family
Planning, 1975.
10. Leibenstein, Economic Backwardness and Economic Growth, Wiley, New York,
1957.
11. Leibenstein, An Interpretation of the Economic Theory of Fertility, Promising Path or
Blind Alley, The Journal of Economic Literature, XII (2), 1974.
12. Agarwala, S. N., India’s Population Problems, Tata - Mcgraw Hill, New Delhi.
13. Srinivasan, K., Basic Demographic Techniques and Applications, Sage Publications,
New Delhi, 1992.
14. Bhende and Kanitkar, Principles of Population Studies, Himalaya Publishing House,
Delhi, 2003.
14
Module – D
Economics of Human Resources
(100 Marks)
1.
Human Capital Theories
(15 Lectures)
(i) Theories of Human resource: relevance of Theory of Human Capital to Education,
Health, Information and Migration
(ii) Household Economic theory - Supply of Human resource
(iii) Human capital and Economic development – Human development
(iv) Criticism to Human Capital theory.
2.
Human Resource Management
(15 Lectures)
(i) Education and Economic development – Investment in education and training
(ii) Role of government in provision of Education
(iii) On the Job training
(iv) Impact of Education on Agriculture and Industrial Productivity
(v) Measurement of Human Resource
(vi) Manpower Planning.
3.
Health Economics
(15 Lectures)
(i) Investment in Health – Relevance of health economics
(ii) Micro economic tools for health Economics
(iii) Supply and demand for health
(iv) Consumption and investment aspects of Health
(v) Health Insurance - Moral hazard - Demand and supply for Insurance
(vi) Role of Government in provision of Health
(vii) Costs of providing Health Services.
4.
Labour Market and Quality of Labour
(i) Demand for labour - Demand for Human resources
(ii) Short run and long run changes in the demand for labour
(iii) Supply of Labour and Market segmentation
(iv) Wage Theories –Trade Union and Wages
(v) Evaluating the Labour Market – Qualitative Aspects
(vi) Labour Force participation- Trends in India and West Bengal
(vii) Allocation of Time – Value of Non-market work.
(15 Lectures)
References
Berman, P. (Ed.) (1995) - Health Sector Reform in Developing Countries : Making Health
Development Sustainable, Boston: Harvard Series on Population and International Health.
Blaug. M (1972) - Introduction to Economics of Education (Penguin)
Cohen, E and T. Gaske (1989) - Economics of Education. Pergamon Press, London
Deshpande, S., G. Standing, and L.K. Deshpande, (1998), Labour Flexibility in a Third World
Metropolis, Commonwealth Publishers, New Delhi.
Foster, A.D. and M.R. Rosenberg, (1993), Information Flows and Discrimination in Labour Markets
in Rural Areas in Developing Countries, Annual Conference on Development Economics,
World Bank, Washington D.C
Jhabvala, R. and R.K. Subrahmanya (Eds.) (2000), The Unorganised Sector : Work Security and
Social Protection, Sage Publications, New Delhi.
Kannapon, S. (1983), Employment Problems and Urban Labour Markets in Developing Countries,
University of Michigan, Ann Arbor.
McConnell, C.R. and S.L. Brue (1986), Contemporary Labour Economics, McGraw-Hill, New York.
15
McMohan, W.W. (1999) - Education and Development : Measuring the Social Benefits, Oxford
University Press, Oxford.
Riveros, L. (1990), Labour Market Policies and Labour Market Reforms in Socialist Economies,
World Bank, Washington D.C.
Rosenberg M.R. (1988), Labour Markets in Low Income Countries in Chenery, H.B. and T.N.
Srinivasan, (Eds.), The Handbook of Development Economics, North-Holland, New
York.
Schultz, T. W(1971) - Investment in Human Capital, Free Press, New York.
Tilak, J.B.G. (1994) - Education for Development in Asia, Sage Publications, New Delhi.
World Bank (1993) - The World Development Report, 1993 : Investing in Health, Oxford University
Press, New York.
16
Module – E
Economics of Infrastructure and Development
(100 Marks)
1.
Infrastructure and Economic Development – Concepts
(4 Lectures)
(i) Definition, Meaning, Classification of infrastructure (Social and Economic
Infrastructure)
(ii) Urban and Rural Infrastructure schemes in India – PURA
(iii) Growth of infrastructure under plans.
(iv) Spatial aspects of development and linkages with infrastructure
(v) Impact of Physical and Social Infrastructure on Development
2.
Physical Infrastructure – I (Energy and Power)
(10 Lectures)
(i) Energy: Sources of Energy – Sources of Commercial and Non Commercial
Energy Resources – Growth and Present Status – Energy Crisis in India.
(ii) Power: Growth and Present Status – Rural Electrification in India – Problem of
Power Shortage in India – Problem of SEBs in India.
3.
Physical Infrastructure – II (Transport & Communication)
(10 Lectures)
(i) Significance of Transport Infrastructure
(ii) Factors affecting Transport Network - Growth and Present status of Transport
System in India
(iii) Impact of Transport Development on location of economic activities
(iv) Transport Sector Reforms in India
(v) Postal and Telegraph. Telecommunication and Information Technology
(vi) Major issues in IT – Growth and present status of IT industry in India
(vii) Implications for Regional Development
4.
Physical Infrastructure – III (Irrigation)
(i) Water Resource and Irrigation Types
(ii) Impact of Irrigation on Agriculture
(iii) Role of Public Provisioning
5.
Social Infrastructure
(15 Lectures)
(i) Growth and present status of Social Infrastructure – Education, Health, Housing
and Banking & Insurance
(ii) Impact of Social Infrastructure on Human and Economic Development
6.
Infrastructure Demand & Financing
(i) Demand Simulation for Infrastructure
(ii) Financing Needs
(iii) Infrastructure Financing in Plan Period
(iv) Infrastructure Financing in Recent Times
(v) Privatisation of Infrastructure and PPP Models
(vi) Implications for Infrastructural Development
(6 Lectures)
(15 Lectures)
References
Baru, R.V. (1998), Private Health Care in India : Social Characteristics and Trends, Sage
Publications, New Delhi.
17
Becker, G.S. (1974), Human Capital (2nd Edition), National Bureau of Economic Research, New
York.
Berman, P. and M.E. Khan (1993), Paying for India’s Health Care, Sage Publications, New Delhi.
Centre for Monitoring Indian Economy (1996), India : Energy Sector, CMIE, Mumbai.
Crew, M.A. and P.R. Kleindorfer (1979), Public Utility Economics, Macmillan, London.
Indian Council of Social Sciences Research (ICSSR) (1976), Economics of Infrastructure Vol. VI,
New Delhi.
McMohan, W.W. (1999), Education and Development : Measuring the Social Benefits, Oxford
University Press, Oxford.
National Council of Applied Economic Research (NCAER) (1996), India Infrastructure Report :
Policy Implications for Growth and Welfare, NCAER, New Delhi.
Parikh, J. (Ed.) (1997), Energy Models for 2000 and Beyond, Tata McGraw-Hill, New Delhi.
Parikh, K.S. (Ed.) (1997), India Development Report 1997, Oxford, New Delhi.
Parikh, K.S. (Ed.) (1999), India Development Report — 1999-2000, Oxford, New Delhi.
18
Module – F
FINANCIAL ECONOMICS
(100 Marks)
1. Markets, Models, Interest rates, Utility Maximization, Risk
Financial Markets, Interest Rates
Models of Securities Prices
Optimal Consumption/Portfolio Strategies
Risk
(15 Lectures)
2. Pricing and Hedging of Derivative Securities
Arbitrage and Risk-Neutral Pricing
Option Pricing
Fixed-Income Market Models and Derivatives
Hedging
Bond Hedging
Numerical Models
(15 Lectures)
3. Equilibrium Models
Equilibrium fundamentals
CAPM
Multifactor Models
Other Pure Exchange Equilibria
(5 Lectures)
4. Behavioral Finance Theory
Standard Finance vs. Behavioral Finance
Prospect Theory and Investor Psychology
Empirical Evidence
(5 Lectures)
5. Theory of Financial Intermediation
Financial Intermediaries in the Neoclassical model
Why do Financial Intermediaries exist?
Empirical Evidence
(5 Lectures)
6. Theory of the Banking Firm
Objectives of a Banking Firm
Theory of Deposit Contracts
Credit Risk and Risk Measurement
Regulation in Banking
(5 Lectures)
7. Market Microstructure Theory
Trading Mechanisms and the Design of Exchanges
Autocorrelation in Security Prices
Sequential Models and Strategic Models
Regulation of Exchanges
(10 Lectures)
References
Bodie and Merton: Finance, Prentice Hall
Campbell, Lo and Mackinlay: The Econometrics of Financial Markets, Princeton University Press
19
Elton and Gruber: Modern Portfolio Theory and Investment Analysis, John Wiley & Sons.
Fama, E. (1998), Market Efficiency, Long-Term Returns, and Behavioural Finance, Journal of
Financial Economics 49, 283-306
Daniel, K., D. Hirshleifer, and A. Subrahmanyam (1998), Investor Psychology and Security Market
Under- and Overreaction, Journal of Finance 53, 1839-1885
Shleifer, A. and Vishny (1997), Limits of Arbitrage, Journal of Finance 52, 35-55
Benson and C.W. Smith (1976), A Transaction Cost Approach to the Theory of Financial
Intermediation, Journal of Finance 31, 215-231
Diamond, D.W. (1984), Financial Intermediation and Delegated Monitoring, Review of Economic
Studies 51, 393-414
Leland, H. and D. Pyle (1977), Informational Asymmetries, Financial Structure, and Financial
Intermediation, Journal of Finance 32, 371-387
Klein, M.A. (1971), A Theory of the Banking Firm, Journal of Money, Credit and Banking 3, 205-218
Merton, R.C. (1977), An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees,
Journal of Banking and Finance 1, 3-11
Stiglitz, J. and A. Weiss (1981), Credit Rationing in Markets with Imperfect Information, American
Economic Review, 71, 393-410
Demsetz, H. (1968), The Cost of Transacting, Quarterly Journal of Economics 82, 33-53
Kyle, A.S. (1985), Continuous Actions and Insider Trading, Econometrica 53, 1316-1335
Stoll, H. (1978), The Supply of Dealer Services in Securities Markets, Journal of Finance 33, 11331151
Jaska Cvitanic and Fernando Zapatero (2004). Introduction to the Economics and Mathematics of
Financial Markets. MIT Press.
Copeland, T.E., J.F. Weston, and K. Shastri (2005), Financial Theory and Corporate Policy, 3rd ed.,
Pearson Addison Wesley
Freixas, X. and J.-C. Rochet (1997), Microeconomics of Banking, Cambridge Mass.
Hasbrouck, J. (2007), Empirical Market Microstructure: The Institutions, Economics, and
Econometrics of Securities Trading
Hull, J.C. (2007), Options, Futures, and Other Derivatives, 7th ed., Prentice Hall
O'Hara, M. (1995), Market Microstructure Theory, Cambridge Mass.
Saunders, A. and M. Millon Cornett (2007), Financial Institutions Management – A Risk
Management Approach, 6th ed. McGraw-Hill, New York et al.
Shefrin, H. (2005), Behavioral Corporate Finance, McGraw-Hill, New York et al.
Shiller, R.J. (2000), Irrational Exuberance, Princeton University Press
20
Module – G
HISTORY OF ECONOMIC THOUGHT
(100 Marks)
1.
2.
3.
4.
5.
5.
6.
7.
8.
9.
Introduction
Economic Thought in Ancient Civilizations: India, China
The Mercantilist School
The Physiocratic School
The Classical School - Adam Smith, Thomas Malthus, David Ricardo, Bentham, Say,
Senior, Mill.
The Rise of Socialist Thought and Marxian Socialism
The Marginalist School - Jevons, Menger, and Walras
The Neoclassical School - Marshall and Clark
The Keynesian School – Keynes
More Recent Developments
(Total Lecture hours: 60)
References
E.K. Hunt. History of Economic Thought: A Critical Perspective, updated second edition.
Brue and Grant The Evolution of Economic Thought, 7th ed.
J. Schumpeter, .Science and Ideology., American Economic Review, v. 39, 1949,
pp. 345-59.
Thomas Humphrey, .Fisher and Wicksell on the Quantity Theory., Federal Reserve Bank of
Richmond Economic Quarterly, v. 83/4, Fall 1997, p.71-89.
Irving Fisher, .The Debt Deflation Theory of Great Depressions., Econometrica, v. v. 1., n. 1, 1933,
pp. 337-57
Joseph Schumpeter, .The Explanation of the Business Cycle., Economica, v. 7, 1927, pp. 286-311
M. Kalecki, .A Theory of the Business Cycle., Review of Economic Studies, v. 4, n. 2, 1936, pp. 77-97
J. Hicks, .Mr. Keynes and the .Classics.: A Suggested Interpretation., Econometrica, v. 5, 1937, pp.
147-59.
Smith, Adam, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776.
Say, Jean-Baptiste, A Treatise on Political Economy, 1803.
Ricardo, David, On the Principles of Political Economy and Taxation, 1817.
Marx, Karl, Capital: Critique of political economy, 3 vols., 1867-1894.
Menger, Carl, Principles of Economics, 1871.
Böhm-Bawerk, Eugen, Capital and Interest, 3 vols., 1884-1889.
Marshall, Alfred, Principles of Economics, 1890.
Wicksell, Knut, Lectures on Political Economy, 2 vols., 1901-1906.
21
Knight, Frank, Risk, Uncertainty and Profit, 1921.
Hayek, Friedrich, Prices and Production, 1931.
Keynes, J. M., The General Theory of Employment, Interest and Money, 1936.
Mises, Ludwig, Human Action: A Treatise on Economics, 1949.
Buchanan, James M., and Tullock, Gordon, The Calculus of Consent: Logical Foundations of
Constitutional Democracy, 1962.
Friedman, Milton, and Schwartz, Anna, A Monetary History of the United States, 1867-1960, 1963.
Schumpeter, Joseph, History of Economic Analysis, 1954.
Blaug, Mark, Economic Theory in Retrospect, Fifth Edition, 1997.
Thanawala, “Kautilya’s Arthasastra: A Neglected Work in the History of Economic Thought,” in
Price, B.B., Ancient Economic Thought.
22
Module – H
INTERNATIONAL ECONOMICS
(100 Marks)
1. Gains from Trade: Patterns of Trade and the gains from Trade: insights from Classical
Theory
Trade between dissimilar countries: insights from factor proportions
theory
Trade between similar countries: implications of decreasing costs and
imperfect competition.
(15 lectures)
2.Barriers to Trade: The Theory of Protection: tariffs and other barriers to trade.
Arguments for protection and the political economy of trader policy
(15 lectures)
3.World Economic Integration: Regional blocs: Preferential Trade Liberalization
Commercial Policy: History and recent controversies.
International mobility of labor and capital
Trade and Growth
Issues of International Trade
(15 lectures)
4. International Finance:
Determinants of Exchange Rates
The Exchange-Rate Regime Choice and a Common Currency
Area
International Debt and Currency Crises
The Role of the IMF and other International Financial
Organizations
(15 lectures)
References
Paul R. Krugman and Maurice Obstfeld, International Economics: Theory and Policy, 6 th edition,
Addison-Wesley, 2002.
R.E. Caves, J.A. Frenkel and R.W. Jones, World Trade and Payments, Harper Collins.
J. N. Bhagwati, A. Panagariya and T. N. Srinivasan, Lectures on International Trade, 2 nd edition, MIT
Press, 1998.
M. Obstfeld and K. Rogoff, Foundation of International Macroeconomics, McGraw-Hill, 1996.
Bhagwati, Jagdish, Arvind Panagariya and T. N. Srinivasan. “The Muddles Over Outsourcing.”
Journal of Economic Perspectives, Vol. 18, No. 4, Fall 2004, pp. 93-114.
Samuelson, Paul. 1971. “An Exact Hume-Ricardo-Marshall Model of International Trade.” Journal
of International Economics, 19:1, pp. 1-18.
Dixit & Norman, Theory of International Trade, Cambridge, 1980,
Helpman and Krugman, Market Structure and Foreign Trade, MIT Press, 1985.
Brander and Spencer, “Export Subsidies and International Market Share Rivalry,” JIE 18, 1985.
23
Eaton and Grossman, “Optimal Trade and Industrial Policy Under Oligopoly,” QJE, 1986.
Claude Barfield, Free Trade, Sovereignty, Democracy: The Future of the World Trade Organization,
Washington, D.C.: AEI Press, 2001
R. Cooper, “Economic Interdependence and Coordination of Economic Policies,” Handbook of
International Economics, Vol. II, 1985
J. Sachs, “Managing the LDC Debt Crisis,” Brooking Papers on Economic Activity 2, 1986.
Joseph Stiglitz, Globalization and Its Discontents, New York: W.W. Norton, 2002, Chapters 1-4.
Frederic S. Mishkin, “Global Financial Instability: Framework, Events, Issues,” JEP, Vol. 13, No. 4,
1999
Kenneth Rogoff, “International Institutions for Reducing Global Financial Instability,” JEP, Vol. 13,
No. 4, 1999
Sebastian Edwards, “How Effective are Capital Controls?,” JEP, Vol. 13, No. 4, 1999
Stanley Fischer, “On the Need for an International Lender of Last Resort,” JEP, Vol. 13, No. 4, 1999
24
Module – I
Labour Economics
(100 Marks)
1.
Theories of Population Growth and Employment
(i) Changing Composition of Employment
(ii) Theories of Labour Surplus and Labour Transfer
(5 Lectures)
2.
Conceptual and Measurement Issues of Labour Force
(i) Sectoral Distribution of Labour Force
(ii) Employment, Unemployment and Underemployment
(5 Lectures)
3.
Poverty Employment Linkages
(i) Poverty and Non-availability of Work
(ii) Working Poor
(15 Lectures)
4.
Conditions of Labour Market in India
(i) Working Conditions
(ii) Wages and Earnings
(iii) Changing patterns of Labour Market
(iv) Issues of Child Labour
(12 Lectures)
5.
Discrimination in Labour Market
(15 Lectures)
(i) Gender and Caste Discrimination
(ii) Endowment and Bias
(iii) Entry Barrier and Wage Discrimination
(iv) Unorganised Labour Force – Trends in Unorganised Labour Force; Social
Security for Unorganised Workers
6.
Recent Employment Generation Schemes in India
(i) Experiences of NREGA
(ii) Experiences of IREP
(8 Lectures)
References
Breman, J. (1996), Footloose Labour: Working in India’s Informal Economy, Cambridge University
Press, Cambridge.
Custers, P. (1997), Capital Accumulation and Women’s Labour in Asian Economies, Vistaar, New
Delhi.
Deshpande, S., G. Standing, and L.K. Deshpande, (1998), Labour Flexibility in a Third World
Metropolis, Commonwealth Publishers, New Delhi.
Foster, A.D. and M.R. Rosenberg, (1993), Information Flows and Discrimination in Labour Markets
in Rural Areas in Developing Countries, Annual Conference on Development Economics,
World Bank, Washington D.C
Hajela, P.D. (1998), Labour Restructuring in India: A Critique of the New Economic Policies,
Commonwealth Publishers, New Delhi.
Jhabvala, R. and R.K. Subrahmanya (Eds.) (2000), The Unorganised Sector : Work Security and
Social Protection, Sage Publications, New Delhi.
Kalpagam, U. (1994), Labour and Gender: Survival in Urban India, Sage Publications, New Delhi.
Kannapon, S. (1983), Employment Problems and Urban Labour Markets in Developing Countries,
University of Michigan, Ann Arbor.
McConnell, C.R. and S.L. Brue (1986), Contemporary Labour Economics, McGraw-Hill, New York.
25
Misra, L. (2000), Child Labour in India, Oxford University Press, New Delhi.
Papola, T.S. and Sharma, A.N. (Eds.) (1999), Gender and Employment in India, Vikas Publishing
House, New Delhi.
Papola, T.S., P.P. Ghosh and A.N. Sharma (Eds.) (1993), Labour, employment and Industrial
Relations in India, B.R. Publishing Corporation, New Delhi.
Riveros, L. (1990), Labour Market Policies and Labour Market Reforms in Socialist Economies,
World Bank, Washington D.C.
Rosenberg M.R. (1988), Labour Markets in Low Income Countries in Chenery, H.B. and T.N.
Srinivasan, (Eds.), The Handbook of Development Economics, North-Holland, New
York.
Sharma. A.N. and A. Kundu (Ed.) (2001), Informal Sector in India : Emerging Perspectives, Institute
for Human Development, New Delhi.
Venkata Ratnam, C.S. (2001), Globalization and Labour-Management Relations: Dynamics of
Change, Sage Publications/Response Books, New Delhi.
26
Module – J
MONETARY ECONOMICS
(100 Marks)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Tobin’s General Equilibrium Approach
Blanchard Formulation; its extension
Exchange Rate Dynamics
Cagan’s model of Hyperinflation
Calvo-Rodriguez Model
Financial Repression
Financial Liberalization
New Structuralist Literature
Dependent and Self Reliant Growth with Foreign Borrowing
The pure theory of Risk
Financing Vs Forgiving A Debt Overhang
Market Based Debt Reduction Scheme.
Total: 60 lecture hours
References
Tobin, James. “A General Equilibrium Approach To Monetary Theory.” Journal of Money, Credit,
and Banking, February 1969, 1(1), pp. 15–29.
Demirguç-Kunt, Ask and Enrica Detragiache, 1998a. "The Determinants of Banking Crises in
Developing and Developed Countries," IMF Staff Papers, 45(1), pp. 81- 109.
Diaz-Alejandro, Carlos F., 1985. "Good-Bye Financial Repression, Hello Financial Crash," Journal of
Development Economics, 19, pp. 1-24.
Edwards, Sebastian, 1999. "On Crisis Prevention: Lessons from Mexico and East Asia," Cambridge,
MA: National Bureau of Economic Research Working Paper No. 7233 (July).
Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit, and
Banking, 11(August), pp. 311-325.
Buffie, Edward, F. (1993), "Direct Foreign Investment, Crowding Out, and Underemployment in the
Dualistic Economy," Oxford Economic Papers; 45(4), October 1993, pages 639-67.
Caballero, Ricardo and Arvind Krishnamurthy (1998), “Emerging Market Crises: an Asset Markets
Perspective,” NBER Working Paper No. 6843, December.
Corsetti, Giancarlo, Paolo Pesenti, and Nouriel Roubini (1998). “Paper Tigers? A Model of the Asian
Crisis,” NBER Working Paper No. 6783, November.
Thomas F. Cooley (1995), editor, Frontiers of Business Cycle Research, Princeton: Princeton
University Press.
Barro, R., and X. Sala-i-Martin, 1993, Economic Growth, MIT press
Lars Peter Hansen and Thomas J. Sargent, Recursive Models of Dynamic Linear Economies,
Manuscript, Stanford University (1997)
Stokey, Nancy, Robert E. Lucas Jr, and Edward Prescott, Recursive Methods in Economic Dynamics,
Harvard University Press, 1988.
27
Aghion P. and P. Howitt: "Endogenous Growth Theory", MIT Press, 1998
Azariadis, Costas, Intertemporal Macroeconomics, Basil Blackwell~ 1993.
Blanchard, Olivier and Stanley Fischer, Lectures on Macroeconomics, MIT Press, 1989.
Barro, Robert J. (ed.), Modern Business Cycle Theory, Harvard University Press, 1989.
Chow, Gregory, Analysis and Control of Dynamic Economic Systems, Krieger, 1986.
Farmer, Roger, The Macroeconomics of Self-fulfilling Prophecies, MIT Press, 1993
Sargent, Thomas, Macroeconomic Theory, 2nd Ed., Academic Press, 1987.
Sargent, Thomas, Dynamic Macroeconomic Theory, Harvard University Press, 1987.
Ramon Marimon and Andrew Scott (1999), editors, Computational Methods for the Study of
Dynamic Economies, Oxford: Oxford University Press.
Kenneth Judd (1991), Numerical Methods in Economics, MIT press
Timothy J. Kehoe and Edward C. Prescott (1999), editors, The Discipline of Applied General
Equilibrium, Heidelberg: Springer-Verlag.
Alan J. Auerbach and Laurence J. Kotlikoff (1987). Dynamic Fiscal Policy, Cambridge: Cambridge
University Press.
Obstfeld and Rogoff, Foundations of International Macroeconomics, MIT Press, 1996
Sargent, T. Dynamic Macroeconomic Theory, Cambridge, Mass.: Harvard University Press, 1987.
Ch. 1., Appendix
Dixit, A. and R. Pindyck, Investment Under Uncertainty, Princeton University Press, 1994.
Stokey, N. and Robert E. Lucas, Recursive Methods in Economic Dynamics, Cambridge, Mass.:
Harvard University Press, 1989.
28
Module – K
Political Economy of Development
(with special reference to India)
(100 Marks)
1.
Economic Distance between Nations – Historical Theories
(i) Convergence- Divergence Hypothesis
(ii) Stages of Development
(iii) Dualistic Theories
(iv) Critical appraisal of Metropole-Periphery theories
(12 Lectures)
2.
Recent Patterns of International Growth and Development
(i) Growth Experience
(ii) Perpetuating Underdevelopment
(iii) Poverty and Inequality in New World
(iv) Role of Trade, Financial Flows and State
(12 Lectures)
3.
Political Economy of New Regime
(12 Lectures)
(i) Background and Implications of Structural Adjustment Programme
(ii) Financial Liberalisation and its Impacts
4.
Political Economy of Privatisation
(i) Impact on Redistribution
(ii) Impact on Social Sector Development
(iii) Implications for Human Development
(12 Lectures)
5.
Reclaiming Development
(12 Lectures)
References
Bardhan, Pranab (
) - The political economy of development in India
Chang, Ha-Joon (ed) (2003) - Rethinking development economics, Anthem Press.
Chang, Ha-Joon and Ilene Grabel (2004) - Reclaiming Development: An Economic Policy Handbook
For Activists And Policymakers
Giovanni Arrighi, Beverly J. Silver and Benjamin D. Brewer (2003) - Industrial convergence,
globalization, and the persistence of the North-South divide, Studies in Comparative
International Development, Volume 38, Number 1 / March, 2003
Meier, Gerald M. and Joseph E. Stiglitz (2001) - Frontiers of development economics: The Future in
Perspective, Oxford Uniersity Press
Toye, John (1993) - Dilemmas of Development: Reflections on the Counter-Revolution in
Development Theory and Policy, First Edition, Blackwell, Oxford, UK and Cambridge,
USA, 1987, Second Edition, 1993
Toye, John (1995) - Structural Adjustment and Employment Policy: Issues and Experience,
International Labour Organisation, Geneva, 1995.
29
Module – L
Regional Development in India
(100 Marks)
1.
Significance of Regional Disparities
(i) Theories of Divergence and Convergence
(ii) Measures of Divergence and Convergence
(iii) Regional Disparities in Colonial India
(12 Lectures)
2.
Regional Disparities in post-independence India
(i) Trends in Regional Disparities in Income & Consumption
(ii) Sectoral Income and Employment Pattern across regions
(12 Lectures)
3.
Regional Distribution of Industrial Development
(12 Lectures)
(i) Industrial Locational Theories
(ii) Dispersal of Industries to Backward Areas under Licensing Regime
(iii) Spatial Concentration of Industries in Liberalised Regime
(iv) Regional Differences in Industrial Wages
4.
Regional Disparities in Agricultural Growth and Productivity
(i) Trends in regional agro production and productivity
(ii) Role of Public Spending
(12 Lectures)
5.
Regional Distribution of Infrastructure
(i) Trends in regional disparities in Infrastructure
(ii) Association with Regional Disparities in Development
(12 Lectures)
References
Adelman, I. and C.T. Morris (1973) – Economic Growth and Social Equity in Developing Countries,
Stanford, USA
Ahluwalia, M. (1976) – “Inequality, Poverty, and Development”, Journal of Development Economics,
Vol. 6
Anand, S. and R. Kanbur (1993) – “The Kuznets Process and the Inequality-Development
Relationship”, Journal of Development Economics, Vol. 40
Anand, S. and R. Kanbur (1993a) – “Inequality and Development: A Critique”, Journal of
Development Economics, Vol. 41
Kuznets, S. (1955) – “Economic Growth and Economic Inequality, American Economic Review, Vol.
45,
Kuznets, S. (1963) – “Quantitative Aspects of Economic Growth of Nations: VIII, Distribution of
Income by Size”, Economic Development and Cultural Change, Vol. 12.
Mathur, Ashok (2000), National and Regional Growth Performance in the Indian Economy, in
Reform and Employment, New Delhi, IAMR and Concept Publishers.
Shand, Ric and S. Bhide (2000), “Sources of Economic Growth: Regional Dimensions of Reforms,”
Economic and Political Weekly, Vol. 35, No. 42, October 14.
30
Module – M
RESOURCE ECONOMICS & SUSTAINABLE DEVELOPMENT
(100 Marks)
1.
Environment asset as pure public good; market failure and public good, optional
allocation of resources for public good.
(10 lectures)
2.
Optional extraction of resources – A Survey, Exploration and extraction of
exhaustible resources, common property resources.
(10 lectures)
3.
Trade-off between exploitation of environment for
environmental conservation; Modelling environmental
development. (5 lectures)
4.
Montreal Protocol : Statement and explanation, Modelling of the benefits of Cooperative treaty compared to non-co-operation.
(10 lectures)
5.
Modelling of the economics of green house effect and climate-change. Global
warming problem
(10 lectures)
6.
Concept of sustainable development, Environmental accounting and green NNP,
The concept of green NNE as linearised Hamiltonian.
(10 lectures)
development
preservation
and
and
References
31
Module – N
SOCIAL CHOICE THEORY
(100 Marks)
1.
Relevance of Social choice Theory
(12 Lectures)
(i) Need for community decisions and its dilemma – evaluations of policies or
projects that would affect welfare of the community
(ii) Implications for the mainstream economic thinking – Some examples (provision
of health care, education, losers and gainers in economic growth process, gender
issues, various forms of social and non-economic discriminations, environmental
perspectives etc.)
2.
Axioms of Individual Choice-The Basis of Social Choice theory (12 Lectures)
(i) Axiomatic treatment of Individual preferences – Different definitions of
Rationality - Choice sets, Maximal sets and other related mathematical concepts
(ii) Importance of morality - “Rational Fools”
3.
Positive Social Choice
(12 Lectures)
(i) Public choice in a direct democracy-Basic concepts of preference revelations
(ii) Public Choice in a representative democracy – Exit, voice and loyalty
(iii) Government and Bureaucracy
4.
Normative Social Choice
(12 Lectures)
(i) Pareto rules and its extensions – Normative evaluations of the existing public
choice mechanisms
(ii) Arrow’s impossibility and its extensions – Rights and justice
(iii) Interest, well-being and advantage
5.
Some applications of the Social Choice Theory
(12 Lectures)
(i) Famine and entitlement – Study of some famines or famine like situations
(ii) Poverty and Inequality
(iii) Development as freedom – Evaluation of globalization and reform policies
(iv) Labour market as a social phenomenon – Social choice theoretic interpretation of
unemployment
(v) Development as Choice – basic incompleteness in the welfare theoretic
evaluations
References
Basu K. and Foster J.E. On measuring literacy
Bose, Rakshit and Sinha (eds): Issues in economic Theory and Public policy
Mascollel and Greene: Microeconomics
Mueller: Public Choice
Sen and Dreze (eds): Hunger and Public action
Sen: Choice, Freedom and welfare
Sen: Choice, welfare and Measurement
Sen: Collective Choice and social welfare
Sen: Development as freedom
Sen: Poverty and famines: An essay on Entitlement and Deprivation.
Stiglitz: Public Economics
Suzumara and Pattnaik (eds): Essays in honour of Amartya Sen
32