Unit-I
Micro Economics-Theory of consumer behavior–Cardinal and Ordinal approaches-
Revealed preference Hypothesis-Hick’s Revision of Demand Theory-Modern Utility, Analysis of Choice involving risks and uncertainties.
Production function-Linear, Homogeneous, Cobb-Dougles and C.E.S. Production
functions-Short Run and Long Run cost curves Derivation of cost functions from productions functions-Least cost combination of factor inputs.
Market structure-Perfect competition-Monopoly and price Discrimination- Monopolistic competition- Oligopoly and models of Oligopoly.
Factor Prices and factor market-Pricing of factors of production-Theories of Rent- Wages- Interest- Profits.
Macro Economics-National Income and Social accounting-consumption function and its modern developments-investment function and its determinants.
Theories of Income and employment Classical theory-Bay’s Law-Output and employment in classical theory-classical model with and without saving and investment- Keynesian theory of income and employment-Apprisal of Keyslan theory of employment-Post Keyneslon developments-Secular Stagnation-Real Balance effect.
Macro Theories of Distribution-Records-Kalecky-Lerner and Keynes-Dynamic adjustments of Is-LM Models-Modern Theories of Business Cycles-Kaldor Samuelson Harred and Hicks-Theory of inflation.
General Equilibrium Theory-Walraisian approach-Input Output analysis-Leonties’s Input-Output Model-Open and closed Input Output Model Economic Policy-Monetary-Income and Fiscal Policies
Money in Macro Economy-Classical approach-Keynesian approach-Post Keysian developments- Don Patinkin-Milton Friedman-Gurley shaw-The Demand for money-Classical Keysian and Post- Keynesian-Supply of Money-Classical Version.
Central Bank and its functions-Money supply in India.
International monetary system and international capital movements-Tarrifs and quotas and their effects-EEC and regional arrangements by the developing countries-Trade problems in developing countries.
Fiscal Economics-Nature, Scope and importance-Principle of maximum social advantage- Principles of taxation-Taxable capacity-Types of taxes- Direct and Indirect taxes- Shifting and incidence of taxation.
Theories of Public expenditure-Canons of public expenditure-Growth of public expenditure in recent times-Public expenditure in India-Public debt- Burden and effects of Public debt-Methods of repayment of public debt-Public borrowing and development finance in India.
Budgetary procedure-Types of Budget-deficit financing and methods- Role and objectives of Budgetary policy-Budgetary trend in India since independence-Objectives and instruments of fiscal policy-Fiscal policy in India.
Principles of federal finance-Problems of allocation of Resources between Center and States- Fiscal relation between Center and State-Finance Commissions-Federal Finance in India-Local finance in India-Sources-functions growth structure and its defect.
Structure and character of Indian Economy-National income growth-Sectoral and Personal distribution-Inter State variation in National Income-Development Constraints in Indian Economy- Regional imbalance-problem of Poverty and unemployment.
Agriculture in India-Determinants of agricultural development-Institutional
aspects-Land reforms- Agricultural finance and credit-Agricultural marketing and agricultural
Price Policy-Modernisation of Agriculture-Green Revolution.
Industry in India –Structure and growth strength in Industry-Large and Small Industries-Industrial finance-Industrial Labour problems and Policies.
India’s Economic policy-Planned Growth and Development-Role of Private and Public sectors- Planning models-Seventh and Eighth Five Year Plans-Ninth Five Year Plan and approach paper to Tenth Plan.
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