DEPARTMENT OF ECONOMICS V.G.

PROGRAMME

SYLLABUS

Effective from the Academic Year 2003-04

Autonomous

College Conferred with Potential for Excellence by UGC

Accredited at Five Star Level by NAAC Chennai - 600 034

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CODE TYPE TITLE CREDITS HOUR~ OFFERED
EC1500 MC MICRO ECONOMICS - I 4 6
EC2500 MC MICRO ECONOMICS - II 4 6
EC3500 MC QUANTITATIVE TOOLS FOR ECONOMICS 4 6
EC3020 COMPUTER APPLICATIONS IN ECONOMICS 1 3
EC3300 GE PRINCIPLES OF MARKETING 1 3
EC3100 AR INDIAN ECONOMIC PLANNING AND POLICY 3 6 To History &
Sociology
EC3103 AR GENERAL ECONOMICS 3 6 To Commerce &
Statistics
EC4500 MC MACRO ECONOMICS 4 6
EC4501 MC INDIAN ECONOMY - I 4 6
EC4300 GE ECOLOGY AND ECONOMIC DEVELOPMENT 1 3
EC4200 AO ECONOMICS OF SOCIAL ISSUES 3 6 To Sociology
EC4201 AO BASIC ECONOMICS 3 6 To Sociology
EC4202 AO COMPARATIVE ECONOMIC SYSTEM 3 6 To History
EC4203 AO PRINCIPLES OF ECONOMICS 3 6 To History
EC5400 ES SOCIAL ECONOMICS 2 3
EC5401 ES TAMIL NADU ECONOMY 2 3
EC5402 ES MANAGERIAL ECONOMICS 2 3
EC5403 ES LABOUR ECONOMICS 2 3
EC 5404 ES MATHEMATICS FOR ECONOMISTS 2 3
EC5500 MC INDIAN ECONOMY - II 4 6
EC5501 MC INTERNATIONAL ECONOMICS 4 6
EC5502 MC MONEY AND BANKING 4 6
EC5503 MC FISCAL ECONOMICS 4 6
EC6600 MS PORTFOLIO MANAGEMENT 4 6
EC6601 MS MANAGEMENT OF FINANCIAL SERVICES 4 6
EC6602 MS FINANCIAL MANAGEMENT 2 3
EC6650 SK HUMAN RESOURCE MANAGEMENT
HUMAN RESOURCE ACCOUNTING 10 15 2

EC 1500 - MICRO ECONOMICS - I

ECONOMIC THEORY OF PRODUCT PRICING

Semester: I Category : MC

Objectives

i. to understand how various economic systems help to solve the

Credit

No. of Hours / Week

4 6

basic economic problems;

ii. to grasp the meaning of consumer and market equilibrium

Unit - I : Basic problems of an economic system - Nature of economic theory - Elementary theory of price determination in a competitive market - Changes in demand and supply parameters - Elasticity of demand and supply

Unit - II : Cardinal and ordinal utility approaches to demand.

Unit - III : Theory of production and cost: Production function - Returns to a factor and Returns to scale - The concept of elasticity of substitution

Unit - IV: Perfect competition: Equilibrium of the firm and industry - Derivation of the supply curve - Market adjustment process - The time element.

Unit - V : Monopolistic competition - Product differentiation - Selling cost - Oligopoly - Cournot model- Kinked demand curve - Collusion and price leadership.

REFERENCES:

1. Lipsey, Richard, G., Introduction to Positive Economics (London: English Language Book Society and Weidenfeld and Nicolson 1969)

2. Samuelson, Paul Anthony and William D. Nordhaus, Economics (Sixteenth Edition) (New Delhi: Tata McGraw Hill Publishing Company Ltd. 1998)

3. Stonier, Alfred Wand Douglas C Hague, A Text Book of Economic Theory (London:

Longman 1990)

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EC 2500 - MICRO ECONOMICS - II

ECONOMIC THEORY OF FACTOR PRICING, WELFARE AND INTERNATIONAL TRADE

Semester: I Category : MC

Objectives

i. to understand the concept used in factor pricing and

Credit

No. of Hours I Week

4 : 6

ii. to introduce welfare and international trade

Unit - I : Factor Pricing under perfect competition - Marginal

productivity theory - Demand for and supply of factors - Factor pricing under imperfect competition - Monopsony.

Unit - II : Ricardian and Modern theories of rent - Real theories of interest - Collective bargaining and wage determination - Risk, uncertainty and profit

Unit - III : Welfare analysis: Pareto criterion and Pareto optimalityutility possibility Frontier - Competitive equilibrium and Pareto optimality - Limitations of Pareto criterion.

Unit - IV: Theories of international trade: Ricardian and Heckscher Ohlin theories - Gains from international trade - International trade and factor prices - Terms of trade - Free trade and protection - Optimum tariff.

Unit - V: Role of prices in market economy - Income distribution and

price system

REFERENCES:

1. Chopra, P.N. Pricing, Distribution and Welfare (Delhi: Kalyani Publishers 1975)

2. Lipsey, Richard, G., Introduction to Positive Economics (London: English Language Book Society and Weidenfeld and Nicolson 1969)

3. Mannur, H.G., International Economics: Theory and Policy Isssues (New Delhi:

Vikas Publishing House Pvt. Ltd. 1993)

4. Samuelson, Paul Anthony and William D. Nordhaus, Economics (Sixteenth Edition) (New Delhi: Tata McGraw Hill Publishing Company Ltd. 1998)

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HT 2100 - SELECT CONSTITUTIONS OF THE WORLD

Semester: I Category : AR

Credit

No. of Hours I Week

3 : 6

Unit I. STATE: Definition of the State

Population - Territory - Government - Sovereignty State and other associations. Origin and Character of the State - Some Theories of Origin.

FORMS OF GOVERNMENT:

Aristotle Classification - Modern Classification. Democracy - Nature - Merits & Demerits.

Democracy Vs Dictatorship - Parliament Vs. Predidentship Dictatorship - Traditional and Modern - Merits & Demerits

Unit II. UNITED KINGDOM - Parliamentary Democracy in UK.

a. Salient features of the British Constitution.

b. Conventions and usages.

c. The Crown - The Cabinet and the Prime Minister.

d. Parliament - Composition, Powers and Functions - Law making - The Speaker - Committees

e. Judiciary - Rule of law.

Unit III. UNITED STATES OF AMERICA.- Presidential USA

a. Main features.

b. President - Cabinet.

c. The Congress - Composition, Powers and functions, law making - The Speaker - Committees.

d. Judiciary - Judicial Review.

e. Fundamental Rights.

Unit IV. SWITZERLAND.- other forms of Democracy - Swis - France.

a. Main features.

b. Plural Executive. C. Legislature.

d. Direct Democracy.

Unit V. FRANCE:

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a. Main features.

b. President - Cabinet - Prime Minister.

c. Legislature - Composition, Functions and powers - Committees.

BOOKS FOR STUDY:

1. Kapur, A.C. Select Constitution, S.Chand & Co. (Pvt.) Ltd, New Delhi, 1975.

2. Vishnoo Bhagwan and Vidya Bhyshan, World Constitutions, Sterling Publishers Private Limited, New Delhi, 2003.

3. Mahajan. V.D., Select Modern Govenments, S.Chand & Co. Ltd., New Delhi, 2000.

4. Bhattacharyya D.C. Modern Political Constitutions, Vijoya Publishing House, Calcutta, 2000.

5. Deol, D. Comparative Government and Politics, Sterling Publishers Private Limited, New Delhi, 1998.

BOOKS FOR REFERENCE:

1. Alfred H. Kelly, Winfred A. Harbison and Herman Belz, The American Constitution its orgins & Development, Tata McGraw Hill Publishing Company Ltd., New Delhi, 1986.

2. Sir David Lindsay Keir, The Constitutional History of Modern Britain Since 1485, English Language Book Society, London, 1969.

3. Harvey J. and Bather. L., The British Constitution Macmillan Education Ltd, 1978.

4. Kapm, A.C., Principles of Political SCience, S. Chand & Co. Pvt. Ltd., New Delhi, 1971.

EC 3500 - QUANTITATIVE TOOLS FOR ECONOMICS

Semester: III Category : MC

Objectives

i. to introduce basic concepts in statistics to the students and the way in which these concepts are applied in simple problems

Credit

No. of Hours / Week

4 : 6

in Economics; and

ii. to help solving problems in statistics and interpreting the results obtained

Unit - I : Meaning of Statistics: Functions - Importance - Uses and Limitations of Statistics

Unit - II: Data: Collection, Classification, Tabulation and Diagrammatic and Graphic Representation

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Unit - III : Measures of Central Tendency

Unit - IV: Measures of Dispersion - Skewness and Kurtosis Unit - V : Simple Correlation

Unit - VI : Simple Regression

Unit - VII: Analysis of Times Series (Linear Relationship only)

Unit - VIII: Index Numbers - Index number of prices, Cost of living index - Uses and Limitations of Index numbers

REFERENCES:

1. Gupta, S.P., Statistical Methods (Recent Edition) (New Delhi: Sultan Chand and Sons Publishers 1998)

2. McClave, james T and P.George Benson, Statistics for Business and Economics (London: Colliear Macmillan Publishers 1990)

EC 3020 - COMPUTER APPLICATIONS IN ECONOMICS

Semester: III Category : CL

Objectives

i. to introduce the applied areas in Economics

Credit

No. of Hours / Week

1 : 3

ii. to enable the students to apply Lotus & SPSS in Economic Research

Unit - I : Application of Diagrammatic Representation (Lotus & SPSS)

Unit - II : Application of Descriptive statistics in Economics (Lotus & SPSS)

Unit - III: Application of simple, partial and multiple Correlation and

Regression

Unit -IV: Application of Index Numbers in Economics (Lotus & SPSS) Unit - V : Application of Trend Fitting in Economics (Lotus & SPSS) REFERENCES

1. Croxton, Fredric E, Dudley J.Cowden and Sidney Klein, Applied General Statistics (Third Edition) (New Delhi: Printice Hall of India Ltd 1988)

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2. Gupta, S.P., Statistical Methods (Recent Edition) (New Delhi: Sultan Chand and Sons Publishers 1998)

3. McClave, james T and P.George Benson, Statistics for Business and Economics (London: Colliear Macmillan Publishers 1990)

4. Norusis, MarijaJ., SPSSforWindows (Chicago: SPSS Inc. 1993)

ST 3100 - RESOURCE MANAGEMENT TECHNIQUES

Semester: III Category : AR

Objectives:

i) To make the students grasp the meaning of the subject and to

Credit

No. of Hours I Week

3 : 6

develop skills in decision making

ii) To equip the students with the techniques and to impart some applications in real life situations.

Unit -1: Linear Programming -Formulations of Problems- Graphical solutions-simplex algorithm.

Unit -2: Transportation Problems- North West Corner rule- Least Cost method-Vogel's approximation methods for finding initial solutionDetermination of optimal solution.

Unit - 3: Assignment problems- Obtaining Optimal solutionsSequencing - Optimal sequence algorithm- Graphical solution.

Unit - 4 : Network analysis - Critical Path Method- Project Evaluation Review Technique- Resource Scheduling in Network.

Unit- 5: Inventory Management (only deterministic models) - Purchasing and production problems - Economic Order Quantity.

BOOKS FOR STUDY AND REFERENCE:

1. Dorfman, Robert,Paul Anthony Samuelson and Robert Solow,(1988).Linear Programming for Economic Analysis.Mcgraw Hill Book Company- Tokyo.

2. Hillier,F.S. and Liberman,G.J.(1987).lntroduction to Operation Research. CBS Publishers. New Delhi.

3. Kambo,N.S. (1994). Mathematical Programming Technique. Affiliated East -West Press(P) Ltd. New Delhi.

4. Swarup Kanti, Gupta,P.K. and Man Mohan.(1996). Operations Research.Sultan Chand and Sons. New Delhi.

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4. Taha,H.A. (1997). Operations Research: An Introduction. Macmillan Publishing Housing Co. New Delhi.

5. Gupta,P.K.,Hira,D.S. (1990).Operations Research,Sultan Chand & Sons,New Delhi

EC 4500 - MACRO ECONOMIC THEORY

Semester N

Category MC

Objective

i. to indicate the forces behind income generation; and

Credit

No. of Hours I Week

4 6

ii. to interpret the forces that cause fluctuations in income

Unit - I : Nature and scope of Macro Economics - Micro and Macro Economics - Basic concepts in Macro economics: Equations, stocks and flows; continuous and period analyses variables, functional relationship and parameters; Time series and cross section data analyses; Static, comparative static and dynamic analysis; ex post and ex ante (12 hrs)

Unit - II : National income and Social Accounting - The circular flow of income and expenditure (8 hrs)

Unit - III: The Classical theory of income and employment determination with and without saving (8 hrs)

Unit - IV: The Keynesian model of income determination: Concepts of aggregate demand and aggregate supply - the consumption function and multiplier process - The investment function: Marginal Efficiency of Capital- Liquidity preference and rate of interest. (12 hrs)

Unit - V : The Keynesian-Classical synthesis: IS-LM analysis - A comparision of Classical and Keynesian views on the determination of employment.

Unit - VI : Acceleration Principle: Samuelson's model of Multiplier and Accelerator Interaction - Hicksian theory of trade cycle - Kaldor's theory of trade cycle (8 hrs)

Unit - VII: Determination of General Price Level-lnflation:Types of Inflation, causes and effects of inflation and remedial measures (8 hrs)

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Unit - VIII: Growth Models: Harrod-Domar Model- Theory of income distribution: Kaldors's Model of income determination through differential saving (8hrs)

REFERENCE:

1. Ackley, Gardner. Macro Economic Analysis: Theory and Policy (New York:

Macmillan Publishing Co. 1978)

2. Brooman, F.S. Macro Economics (London: George Allen and Unwin Ltd 1963)

3. Shapiro, Edward. Macro Economic Analysis (New Delhi: Galgotia Publications Pvt. Ltd 1988)

4. Vaish, M.C. Macro Economics (Mumbai: Vikas Publishing House Pvt Ltd 1999)

EC 4501 - INDIAN ECONOMY - I : AGRICULTURE AND DEVELOPMENT

Semester: N Category : MC

Objectives

i. to acquaint students with the significance of agriculture in India; and

ii. to highlight the problems of the agricultural sector and to

Credit

No. of Hours I Week

4 6

evaluate the remedies offered to solve them

Unit - I : General Perspectives: Features of the Indian Economy - Promotional and Retarding factors - National Income: Sectoral composition - pattern of income distribution - inequalities of income - Population: Characteristics and analysis (15 hrs)

Unit - II : Agriculture in Indian Economy: Cropping pattern - farm size and asset distribution - causes for small size of land holdings - problem of subdivision and fragmentation - land reforms - dry farming - soil and water conservation - Green revolution: A critical evaluation (15 hrs)

Unit - III: Agriculture and support services - Agricultural finance - Land Development Banks - Regional Rural Banks - NABARD - Agricultural warehousing and marketing (1 0 hrs)

Unit - IV: Cooperatives and agriculture - Cooperative farming, marketing, credit etc - AN evaluation (10 hrs)

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Unit - V: Agricultural Production : Food grains, cash crops, horticulture - Food problem - Food policy of the Government (10 hrs)

Unit - VI : Rural development: Panchayatiraj and rural developmentIntegrated Rural Development Programme - Jawahar RozgarYojana - An evaluation (10 hrs)

REFERENCE:

1. Tyagi, B.P. Agricultural Economics and Rural Development (Meerut Jai Prakas Math and Co.) (Recent Edition)

2. Dhingra, I.C. Indian Economy (New Delhi: S Chand and son Co Pvt. Ltd.) (Recent Edition)

3. Agarwall, A.N. Indian Economy (New Delhi: S Chand) (Recent Edition)

4. Datt, Ruddar and K.P.M Sundharam Indian Economy (Recent Edition) (New Delhi, S. Chand and Co. Pvt. Ltd.)

5. Luthra, V.P. Economic Development, Planning and Liberalisation (Ivy Publishing House 2000)

6. Planning Commission, Government of India - Ninth Five Year Plan 1997-2000 Vol. II: Thematic Issues and Sectoral programmes - 2000

EC 5400 - SOCIAL ECONOMICS

Semester: V Category : ES

Objectives:

i. To present a framework of basic tools effective in the analysis of social problems; and

Credit

No. of Hours I Week

2 3

ii. To discover ways to resolve social problems

UNIT I : Social Economics: Definition - equality in Human Societies

(employment) - Principles of Social Doctrines: Gandhi, Marx and Pope. (10 hours)

UNIT II : The World Poverty Situation - causes and consequences - requisites of economic growth - Role of government - Social security - Subsidies - Social banking - Refugees, Slavery and Beggary. (10 hours)

UNIT III : Problems in Education and Health services - Energy crisis

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and related issues - Economic crimes and their prevention. (10 hours)

UNIT IV : Discrimination: Sources, kinds and costs - Consumerism - Provision of information - Protection from business manipulation (10 hours)

BOOKS FOR REFERENCE:

1. Culyer, A.J., The Economics of Social Policy (London: Martin Robertson and Co. Ltd. 1973)

2. Douglass C. North and Roger Leroy Miller, The Economics of Public Issues (New York: Harper and Row 1971)

3. Dreze, Jean and Amartya Sen, Hunger and Public Action (Oxford: Clarendon

Press 1989)

4. Harbison, Frederick and Charles A. Meyers, Education, Manpower and Economic

Growth: Strategies of human Resource Development (New Yo r k :

Mc Graw - Hill book Co. 1964)

5. Indira Gandhi Memorial Trust, Redefining the Good Society (New Delhi:

Wiley eastern ltd. 1995)

6. Le Grand, Julian and ray Robinson, The Economics of Social Problems (London and Basingstoke: The Macmillan Press Ltd. 1976)

7. Lutz, Mark and Kenneth Lux, The Challenge of Humanistic Economics (California:

The Benjamin / Cummings Publishing Co. Inc. 1979)

8. Sandford, Cedric, Social Economics (London: Heinemann Educational Books 1977)

EC 5401 - TAMIL NADU ECONOMY

Semester V

Category ES

Credit

No. of Hours / Week

2 3

Objectives:

xii. To understand the relevance of regional economics; and

xiii. To understand the plan performance in Tamil Nadu.

UNIT I : Meaning of a regional economy - The geographical features

of Tamil Nadu - Natural Resources in Tamil Nadu: Land, Forest, Water (Fisheries) and Minerals. (5 hours)

UNIT II : Human Resources in Tamil Nadu: Size, growth and density of population in Tamil Nadu - The occupation pattern in Tamil Nadu - Analysis of the 1991 census. (5 hours)

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UNIT III : Economic Planning and Development in Tamil Nadu: Trend and Composition of SDP - Per capita SDP - Sectoral Composition. (5 hours)

UNIT IV: Agriculture: Agricultural Growth - Cropping pattern - Agricultural inputs: Irrigation, fertilizer - Agricultural Marketing: Cooperative movement in agriculture - Animal husbandry, forestry and fisheries. (5 hours)

UNITV : Industry: growth of industry - changes in industrial structures - Major industries: cotton textiles, sugar, cement, automobiles, leather and electronics - Small and Cottage industries -light Engineering industries -Industrial Finance. (5 hours)

UNIT VI : Infrastructure in Tamil Nadu: Energy - Power - TransportCommunication and Banking. (5 hours)

UNIT VII: Social Inputs in Development Efforts: Education, Health, and Nutrition - Water Supply, Housing and Slums - Evaluation of poverty alleviation programmes in Tamil Nadu (10 hours)

BOOKS FOR REFERENCE:

1. Dr. N. Rajalakshmi, Tamil Nadu Economy (Mumbai: Business Publication 1999)

2. Government of Tamil Nadu, Tamil Nadu: An Economic Appraisal (Chennai:

Evaluation and Applied Research Department) Various Issues.

3. Kurien, C.T and James Joseph, Economic Change in Tamil Nadu: A Regionally and Functionally Disaggregated Study (New Delhi: Allied Publishers Pvt. Ltd. 1979)

4. Madras Institute of Development Studies, Tamil Nadu Economy: Performance and Issues (New Delhi:Oxford and IBH Publishing Co. 1988)

EC 5402 - MANAGERIAL ECONOMICS

Semester: V Category : ES

Objectives

- To relate theoretical concepts in economic theory with modern Business practices.

To predict the demand, cost, price, profit and capital requirements

Credit

No. of Hours / Week

2 3

for a firm in future.

Unit - I : Definition, meaning and significance of Managerial 13

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Economics - its relationship to economic theory and business decisions - alternative objectives of modern firms. (8 hours)

Unit - II : Demand Forecasting - purpose and steps involved in demand forecasting - determinants of demand forecasting - methods of demand forecasting - an evaluation of different methods of demand forecasting. (8 hours)

Unit - III : Role of cost in managerial decision making - various types of costs - an evaluation of Break even analysis. (8 hours)

Unit - IV : Pricing methods - objectives and control. (8 hours)

Unit - V : Capital expenditure decisions and capital budgeting - capital budgeting techniques - discounted cash flow methods and its advantages and limitations - cost of capital. (8 hours)

BOOKS FOR STUDY:

1. Dominic Salvatore - Managerial Economics, Mc.Graw Hill Inc, Newyork -1993.

2. R.L. Varsney, &. K.L Maheswari - Managerial Economies, Sultan Chund & Sons., New Delhi, Latest edition 1997.

REFERENCES:

1. Baumol, William J., Economic Theory and Operation Analysis, Prentice Hall of India Pvt. Ltd. (Latest edition)

2. Dean, Joel, Managerial Economies, Prentice Hall of Inc., New Jercy.

3. D.N. Dwivedi - Managerial Economics, Vikas Publishing House Pvt. Ltd., New Delhi -1995.

4. H. Graig Peterson, WCRIS Lewis - Managerial Economies, Maxwell Macmillan International Edition -1990

5. Cohen, Kalman J and Richard M Cyert, The Theory of Firm: Resources Allocation in Market Economy, Prentice Hall of India Pvt. Ltd., New Delhi (Latest edition)

6. P.L. Metha - Managerial Economics, Sulton Chand & Sons, New Delhi, Latest edition 1997

EC 5403 - LABOUR ECONOMICS AND LABOUR WELFARE

Semester: V Category : ES

Objectives

To understand labour as a unique factor of production, and To observe the nature of industrial relations in India.

Credit

No. of Hours / Week

2 : 3

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Unit - I : Labour as a factor of production: Labour market - Demand for and supply of labour. (6 hours)

Unit - II : Employee remuneration: wage structure and wage differentials - wage structure in India - payment of wages Act, 1936 - Minimum Wages Act 1948 - Bonus and Fringe Benefits Payment of Bonus Act, 1965 and amendments. (10 hours)

Unit - III : Trade unionism - The present position of Trade Unions in India. (8 hours)

Unit -IV: Industrial Relations: Industrial conflicts -Industrial Disputes Act, 1947 and amendments - workers' participation in management - collective bargaining, adjudication and arbitration. (8 hours)

Unit - V : Labour Welfare: Social Security Measures in India - Employees State Insurance Act, 1948, Employees Provident Fund Act, 1952 - Public Provident Fund Act, 1968. (8 hours)

BOOKS FOR STUDY:

1. Mittal (A.C); Sharmar (S.P), Labour Economics - RBSA Publishers, Jaipur - 2002.

2. Singh (Jiwitesh Kumar), Labour Economics - Deep & Deep Publishers, New Delhi -1998.

3. Tyagi, B.P., Labour Economics and Social Welfare - Jai Prakash Nath & Co.,

Meerut - 2001.

BOOKS FOR REFERENCE:

1. Helfgott, Labour Economics, (New York: Random House 1974)

2. Kamik, V.B., Indian Trade Union: A Survey (Mumbai: Allied Publishers Pvt. Ltd. 1966)

3. McCOnnell, Capbell R., and Stanley.L.Brue, Contemporary Labour Economucs (Singapore, McGrew-Hili Book Co 1989)

4. Reynolds, Lloyd., Labour Economics and Labour Welfare (New Delhi: PrenticeHall of Inida Pvt. LTd. 1978)

5. Sepsfore, David and Zafiris Tzannatos., Current Issues in Labour Economics (Hong Kong, Macmilan 1990)

6. Singh, V.B and Saran, A.K., Industrial Labour in India (Mubai: Asia Publishing House 1960)

7. Verma, Pramod., Labour Economics and Industrial Relations (New Delhi: Tata McGrew Hill Publishing Co. Ltd. 1987)

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EC 5404 MATHEMATICS FOR ECONOMISTS

Semester: V Category : ES

Credit

No. of Hours I Week

2 3

Objectives

- To introduce mathematics as a tool to study Economics; and,

- To understand the application of mathematics in economic

theory.

Unit - I : Variables - Constants - Parameters - Functions. Derivatives of algebric functions - Exponential, Logarithmic functions - Parametric differentiation - product and quotient rules - successive differentiation (up to second order) (7 hours)

Unit - II : Slope of a curve - Maxima and Minima - points of inflexion - partial differentiation - Euler's theorem - Lagrange's method. (7 hours)

Unit - III: Integration - Standard forms - definite and indefinite integrals - Integration by parts - Area of a curve. (7 hours)

Unit - IV : Differential equation - Homogeneous and Linear Differential Equations. (7 hours)

Unit - V : Some illustrations of the applications of differentiation and integrations in Economic analysis. (7 hours)

BOOKS FOR STUDY:

1. Metha, B.C. and Madnani, G.M.K., Mathematics for Economists. (New Delhi:

Sultan Chand and Sons Publishers 1997)

2. Weber, Jean, E., Mathematical Analysis: Business and Economic Applications (New York: Harper and Row Publishers 1982)

BOOKS FOR REFERENCE:

1. Sanchet, D.C. and Kapoor, V.K., Buainess Mathematics (New Delhi: Sultant Chand and Sons Publishers 1983)

2. Yamane, Taro: Mathematics for Economists: An Elementary Survey. (New Delhi:

Prentice Hall of India Pvt. Ltd. 1970)

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EC 5500 - INDIAN ECONOMY - II INDUSTRY, TRADE AND TRANSPORT

Semester: V Category : MC

Objectives:

i. To study the working of the various sectors in the Indian Economy; and

ii. To grasp how the service sector contributes to the growth of the I ndian Economy.

Credit

No. of Hours / Week

4 6

UNITI

Role of Industry in Economic Development -

Industrialisation in developing economies -Industrialisation in India under the Five-Year Plans. (12 hours)

UNIT II : Industrial Policy resolutions in India since 1947 - Licensing policy: responses of the industries. (12 hours)

UNIT III : Industrial Sectors in India: Private, Public, Joint and Cooperative - Their origin, growth, performance, problems and prospects. (12 hours)

UNIT IV : Industry Classification in India: Major Industries (Iron and Steel, Textile, Cement, Sugar, Fertilizers, Engineering, Petroleum and Crude oil, Petrochemicals, Sunrise Industries (Electronics) - Small scale and cottage industries - industrial estates: objectives and progress. (15 hours)

UNITV : Internal Trade - Public distribution system - Wholesale and retail trade and co-operatives. (12 hours)

UNIT VI : Transport: Roadways, Railways, Shipping and Airways - Its role in Economic Development - Rail Road Co-ordination. (12 hours)

BOOKS FOR REFERENCE:

1. Dhingra, I.C, Indian Economy (New Delhi: Sultan 2000)

2. Datt, Ruddar and K.P.M. Sundharam, Indian Economy (New Delhi:

S. Chand and Co. Pvt. Ltd. 2001)

3. Agarwal, A.N., Indian Economy: Problems of Development and Planning (Chennai: Wishwa Prakashan 2001)

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4. Uma Kapila (Ed), Indian Economy since Independence (Academic Foundation 2002)

5. Sen, Raj Kumar and Chatterjee, Biswajit (Ed), Indian Economy: Agenda for the 21 st century (Deep and Deep Publications 2002)

6. Bhagwati, Jagdish N. and Padma Desai, Planning for Industrialisation (London:

Oxford University Press 1970)

7. Cherunilam, Francis, Industrial Economics: Indian Perspective (Mumbai: Himalaya Publishing House 1989)

8. Kuchhal, S.C., The Industrial Economy of India (Allahabad: Chaitanya Publishing House 1988)

9. Tandon, B.B. and Kulwinder Kaur, Indian Economic Problems (New Delhi: S.

Chand and Co. Pvt. Ltd. 1987)

10. Wadhwa, Charan (Ed), Some Problems of India's Economic Policy (2nd Edition) (New Delhi: Tata-McGraw - Hill Publishing Ltd. 1977)

EC 5501 - INTERNATIONAL ECONOMICS

SEMESTER: V CATEGORY : MC

CREDIT : 4

NO. OF HOURS / WEEK : 6

Objectives:

iii. To understand the theories governing international trade; and iv. To evaluate the policies pursued by various economic bodies in international economic transactions.

UNIT I : Meaning of International Trade - Reasons for international

Trade. Interdependence of International and Domestic Trade. (10 hours)

UNIT II : Theories of International Trade: Classical theories by Adam Smith and David Ricardo - Modern theory by Heckscher-Ohlin. (10 hours)

UNIT III : Terms of Trade: Types of terms of trade, Net and Gross terms of trade, Income terms of trade, Single factor terms of trade, Double factor terms of trade, Real cost terms of trade and Utility terms of trade - Factors affecting terms of trade - gains arising out of International trade. (15 hours)

UNIT IV : Foreign exchange rates - Different exchange rates - Fixed and Flexible exchange rates - Theories of Exchange rates: Mint-

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Paper theory and Purchasing Power Parity theory - India's exchange rate policy. (10 hours)

UNITV : International Institutions: IMF, IBRD and WTO - Issues related to free trade, protection and international liquidity. (15 hours)

UNIT VI : Foreign trade of India: Composition and direction of India's International Trade - Recent import and export policies of Government of India - Impact of Globalization on the pattern of trade - Meaning of convertibility of current and capital accounts. (15 hours)

BOOKS FOR REFERENCE:

1. Jhingan, M.L., International Economics (Delhi: Konark Publications 1999)

2. Sodersten, 80 and Geoffrey Reed, International Economics (3rd Edition) (Hong Kong: Macmillan Educational Ltd. 1998)

3. Salvatore D., Schaum's Outline of theory and problems of international economics (Delhi: Schaum's 1990)

4. Cherunilam, Francis, International Business (New Delhi: Wheeler Publishers 1998)

EC 5502 - MONEY AND BANKING

Semester: V Category : MC

Objectives:

i. To grasp the concept of money and the foundation of monetary theory,

i i. To study the role of various kinds of banks and financial markets.

Credit

No. of Hours I Week

4 6

UNIT I : Money: Definition, Types and functions of money - The

role of money in the modern economy. (5 hours)

UNIT II : Value of money: Concepts and determinants of the demand and supply of money - Measuring changes in the value of moneyIndex numbers of prices. (10 hours)

UNIT III : Quantity theory of money: Classical transaction approach - Cambridge cash balance approach - Saving-Investment approach

- Classical dichotomy and the neutrality of money - Keynesian

integration of monetary and value theories (15 hours)

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UNIT IV : Commercial banks: Functions - types - distribution of assets and liabilities - investment policy of commercial banks - development of commercial banks in India - The role of the State Bank of India and performance of commercial banks. (15 hours)

UNIT V : Central bank: Traditional functions and promotional role, Instruments of credit control - their efficacy and limitations - The working of the RBI. (15 hours)

UNIT VI : Financial markets: Money market - Meaning, constituents and functions - Money market in India - Capital market - Primary and Secondary markets (stock exchanges) - types of securitiesCapital market in India. (15 hours)

BOOKS FOR REFERENCE:

1. Sethi, 11, Monetary Economics (New Delhi: S. Chand and Co. - Recent edition)

2. Hajela, IN., Monetary Economics (Delhi: Konark Publishers - Recent edition)

3. Crowther, Geoffrey, An Outline of Money (Delhi: Universal Book Stall 1971 )

4. Ghosh, Alok, Financial Intermediaries and Monetary Policy in the Developing Economy (Calcutta: The World Press Pvt. Ltd. 1964)

5. Ghosh, B.N. and Rama Ghosh, Fundamentals of Monetary Economics (Mumbai:

Himalaya Publishing House 1989)

6. Gupta, Suraj B., Monetary Economics: Institutions, Theory and Policy (New Delhi:

S. Chand and Co. Ltd. 1988)

7. Laidler, David E, The Demand for Money: Theories and Evidence (New York:

Harper and Row Publishers 1977)

8. Newlyn, W. 1, Theory of Money (Oxford: Clarendon Press 1971)

EC 5503 FISCAL ECONOMICS

Semester: V Category : MC

Objectives:

i. To understand the functioning of the State sector; and

ii. To evaluate the financial administration of the India economy iii. To determine the role of Fiscal policy in India

Credit

No. of Hours / Week

4 6

UNIT I : Scope of Public Finance: Distinction between Public finance

and Private finance - Principle of Maximum Social Advantage (8 hours)

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UNIT II : Public Expenditure: Types and Cannons - Effects of Public Expenditure in production, distribution and consumption - Major items of expenditure of the Centre and States - Reasons for the growth of Public Expenditure. (10 hours)

UNIT III : Taxation: Types of taxes; Direct and Indirect taxes- Theories of taxation: Cost of service, benefit and ability theories - Cannons of taxation - Features of a good tax system - Effects of taxation on production, consumption and distribution. (10 hours)

UNIT IV : Taxes levied by central and State governments - Study on individual taxes - Incidence of taxation - Taxable capacity. (7hours)

UNITV : Public Debt: Nature and Magnitude of Public Debt in India - Burden arising out of Public Debt - Management of Public Debt. (10 hours)

UNIT VI : Fiscal policy in India: Tools and Objectives. (10 hours) UNIT VII : Study on Centre-State financial relations - Review of the reports of recent finance commissions. (10 hours)

UNIT VIII: Union Budget: Revenue Budget and Capital Budget- Deficit budgeting in India - Causes and Consequences of deficit budgeting. (10 hours)

BOOKS FOR REFERENCE:

1. Tyagi, Breham Prakash, Public Finance (Meerut: Jai Prakash Nath and Co. -

Recent edition)

2. Bhatia, H.L., Public finance (New Delhi: Vikas Publications - Recent edition)

3. Andley and Sundaram, Public Finance (Agra: Ratan Prakashan - Recent Edition)

4. Chelliah, Raja J., Fiscal policy in Underdeveloped Countries with special reference to India (London: George Allen and Ltd. 1960)

5. Dalton, Huge, Principles of Public Finance (London: Routledge and Kegan Paul Ltd. 1971)

6. Musgrave, Richard A., Theory of Public Finance: A Study in Public Economy (Tokyo: McGraw Hill Kogakusha Ltd. 1959)

7. Musgrave, Richard and Peggy B. Musgrave, Public Finance in Theory and Practice (Tokyo: McGraw Hill International Book Co. 1980)

8. Datt, Ruddar and K.P.M. Sundharam, Indian Economy (New Delhi:

S. Chand and Co. Pvt. Ltd. 2001)

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EC 6600 - PORTFOLIO MANAGEMENT

Semester: VI Category : MS

Objectives :

1) To expose the students to the basics of portfolio management.

2) To enable the students to develop a broad view of investment management and security analysis.

3) To help the students to appreciate the concept of market risk and its reduction through investment diversification.

Credit

No. of Hours I Week

4 6

Unit I : Definition of investment, risk and return, investment avenues, investment attributes and structure of the capital market. (10 hours)

Unit II: Definition of portfolio management, functions of portfolio management, types of managed portfolios, portfolio management practices in India.(1 0 hours)

Unit III: Concept of risk in finance theory, sources of risk, diversification of risk, measurement of risk and return in individual stocks and portfolios, Markowitz diversification and classification of risks, Sharpe's single index market model.(20 hours)

Unit IV : Importance of macro-economic environment in security evaluation, opportunities and threats in macro-economic environment, trade cycles and economic forecasting techniques. (10 hours)

Unit V: Efficient market theories - Cootner's price-value interaction model, Samuelson's continuous equilibrium model, different forms of efficient market hypothesis and their implications. (15 hours)

Unit VI : Capital asset pricing model - basic assumptions of the CAPM, issues behind the CAPM framework, capital market line, security market line.( 10 hours)

BOOKS FOR STUDY:

1. V.K. Bhalla, "Investment Management", S. Chand & Company Ltd, New Delhi, 1983.

2. Avadhani, VA, " Investment and Securities Markets in India", Bombay, Himalaya Publishing House, 1 st Edn., 1992.

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3. N.J. Yasaswy, "Equity Investment Strategy", Tata McGraw Hill Publishing Company Ltd, New Delhi, 1986.

REFERENCES:

1. Fischer, D.E and Jordan R.J., "Security Analysis and Portfolio Management", 5th.

Ed., New Delhi, Prentice-Hall of India (P) Ltd., 1992.

2. Simha, S LN., Hemalatha, D and Balakrishnan, S., "Investment Management", Madras Institute for Financial Management and Research, 1979.

EC 6601 - MANAGEMENT OF FINANCIAL SERVICES

Semester: VI Category : MS

Objectives:

i. To enable the student to understand the concepts and procedures in the management process of financial services.

ii. To underscore the present status of financial services in developing countries vis - vis developed countries

iii. To acquire skills in handling and marketing financial products.

Credit

No. of Hours I Week

4 : 6

UNIT - I : Merchant Banking - Meaning, Origin and Growth - Evolution of Banking in India - Scope of Merchant Banking Services - Merchant Banks and management of public issue - Role of Merchant Bankers in maintaining Health and Credibility of the Capital Market.(15 hours)

UNIT - II: Mutual Fund - Mutual fund schemes - Money market mutual funds - Institutions involved in mutual fund business - Safety, Liquidity and Profitability of mutual funds - Regulations.(1 0 hours)

UNIT - III: Lease Financing & Hire Purchase - Methodology and Classifications - Factors influencing Lease Vs Buying decision.Hire Purchase - Concept and Sources - RBI guidelines for Hire Purchase - Problems and Prospects of leasing, hire purchase companies in India.(15 hours)

UNIT -IV: Credit Cards - Concept and status of credit card - Varieties of credit cards - Operational procedures - Acceptability and case of credit cards - Customers and member establishments - Other issues.(15 hours)

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UNIT - V: Credit Rating - Institutions engaged in credit rating - Purpose and procedure of rating of Debentures, Fixed deposits, Short term instruments - Role of CRISIL & ICRA( 10 hours)

UNIT- VI : Venture Capital- Concept and characteristics - Difference between venture capital financing and conventional funding - Venture capital schemes. ( 10 hours)

BOOKS FOR STUDY:

1. C.R.Kothari, Investment Banking and Customer Service, Arihant Publishers, Jaipur, India.

2. I,M.Pandey, Financial Management, Vikas Publishing House Pvt. Ltd.

BOOKS FOR REFERENCE:

1. J.C.Verma, Merchan - Organisation & Management, Tata McGraw Hill Publishing Co. Ltd.

2. R.K.Srivastava, Financial Decision - Making, Problems and Cases.

3. K.V. Kamath, S.A.Kerban & IVishwanath, The Principles and Practices of Leasing, Lease Asia, England, 1990.

EC 6602 - FINANCIAL MANAGEMENT

Semester VI

Category MS

Objectives

a) To make the students understanding the role of Financial Managers in India

b) To Introduce the basic financial concepts for understanding, and evaluating financial decisions.

Credit

No. of Hours I Week

2 3

Unit I : Nature and Scope of Business Finance - Relationship among Finance, Economics and Commerce. Goals of Financial Management. Emerging Role of Financial Managers in India (6 Hours)

Unit II: Organizational, Regulatory and Tax. Frame work - Forms of Business organization - Sole proprietorship, Partnership, Cooperative society, Private company and public company. Regulatory Frame work - Industrial policy, Companies Act and SEBI guidelines. Relevance of Tax Structure - Direct and Indirect Taxes applicable to companies (7 Hours)

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Unit III: The Indian Financial System - Functions of Financial system - Financial Instruments - Financial Institutions - Its rationale and types - Equilibrium in Financial Markets - Indicators of Financial Development. (7 Hours)

Unit IV: Basic Financial Concepts - The Value of Money - Its rationale and Techniques - Applications of Compounding and Present value techniques - Valuation of Long-term securities. (7 Hours)

Unit V: Concept and Measurement of cost of capital. It's importance and Assumptions - Explicit and implicit costs. Measurement of specific costs - costs of debt, preference shares, equity capital and retained earnings. Computation of over all cost of capital - Assignment of weights and Mechanics of computation. (8 Hours)

BOOKS FOR STUDY:

1. M.Y.KHAN, P.K. JAIN ; Financial Management, Tata McGraw Hill Publishing CompanyLTD,New Delhi.

2. PRASANNA CHANDRA ; Financial Management: Theory and Practice, Tata McGraw Hill Publishing Company LTD, New Delhi -1997.

BOOKS FOR REFERENCE:

1. I.M. PANDEY; Financial Management, Vikas Publishing House PVT LTD - New Delhi - 1997.

2. E.F. BRISHAM; Fundamentals of Financial Management, CBS International Editor 1996.

3. ARTHER. J. KEOWN, DAVID. F. SCOTT, J.V. JOHN D. MARTIN, J.wILLlOM PETTY; Basic Financial Management, Prentice Hall of India Private LTD, New Delhi - 1986.

4. JOHN. J. HAMPTON; Financial Decision Making - Prentice Hall of India, PVT LTD, New Delhi -1986.

EC 6650A- HUMAN RESOURCE ACCOUNTING

Semester: VI Category : SK

Objectives:

1. To enable the students to understand the importance of investing

Credit

No. of Hours / Week

10 : 15

money on human beings

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2. To enable the students to estimate the money invested on human resources and its returns in quantitative terms.

3. To enable the students to work in the capacity of Junior / Senior level managers of human resource department in a modern firm.

UNIT - I: Human Capital: Meaning and importance - Distinction between Human, Physical and Financial capital - Returns to investment in Education and Health - Relevance of Human Development Index.( 15 hours)

UNIT - II: Investment in Human Resources: Acquisition costs, Development costs, Welfare costs and other costs - Rate of return on Human resources - Measures to control labor turnover, idle time and absenteeism.( 15 hours)

UNIT - III: Human Resource Accounting: Meaning, objectives and limitations - Capitalization of human resources - Different approaches to human resource accounting - Cost, Monetary and Non-monetary value based approaches - Human resource accounting practices in Indian enterprises. (20 hours)

UNIT - IV: Responsibility Accounting: Meaning and importance - Definition of Master Budget - Estimation of Cost, Revenue and Profit centre - Profit centre evaluation.( 15 hours)

UNIT - V: Human Resource Auditing: Areas of human resource audit - Human resource audit process - Distinction between human resource cost accounting and value accounting. (10 hours)

BOOKS FOR STUDY:

1. P.P. Arya and R.P.Gupta, Human resource management and accounting, Deep & Deep Publications Pvt Ltd, New Delhi 1999.

2. M.Sayeed, Human Resource Accounting, D,K.Kulshreshtha, Anmol Publications, New Delhi,1998.

BOOKS FOR REFERENCE:

1. Rakesh Chandra Katiyar, Accounting for Human resources, U.K. Publications,

1998

2. D.Prabhahar Rao, Human Resource Accounting, Inter India Publications, 1998

3. R.K. Gupta, Human Resource Accounting, Anmol Publications, New Delhi, 1988.

4. M.C.Khandelwal and Sugan.C.Jain Human Resource Accounting, Pointer Publishers, Jaipur, 1993.

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EC 66508 - PRINCIPLES OF HUMAN RESOURCE MANAGEMENT

Objectives:

1. To enable the students to understand, influence and manage people at work places.

2. To enable the students to acquire the leadership skills.

UNIT- I : Human Resource Management: Human Resource as a unique factor of production - Nature, Scope and Objectives - Nature of organizations - Personal Policies and Principles - Human Resource Accounting and Auditing.( 15 hours)

UNIT - II: Human Resource Planning and Employee Reward System:

Meaning - Process of HR planning - Job analysis - Recruitment and selection - Orientation and placement - Theories of wages - Money as a means of reward - Employee maintenance - Quality of work life. (15 hours)

UNIT - III: Motivation: Theories of Motivation - Maslow's Hierarchy Needs - Herzberg's Two Factor Model - Other Theories - Behavioral modification - Motivation concepts.( 10 hours)

UNIT - IV: Leadership, Communication and Counseling: Nature of Leadership behavior - Leadership style - Employee participation - Benefits of participation - Communication - Communication process - Communication systems - Employee counseling.( 15 hours)

UNIT - V: Industrial Relations: Nature of industrial relations - Parties to industrial relations - Trade unions - Collective bargaining - Dispute management - Role of government and legislation.(1 0 hours)

UNIT - VI: Human Resource Management in Future: Personnel functions in future - New challenges in HRM - Research in HRMTrends in HRM in India.( 10 hours)

BOOKS FOR STUDY:

1. Michael, V.p, Human Resources Management and Human Relations, Himalaya Publishing House, New Delhi, 1998

2. Rudrabasavaraj, M.N, Cases in Human Resource Management, Himalaya Publishing House, New Delhi, 1998

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BOOKS FOR REFERENCE:

1. George T. Milkovich and John W.Bourdream, Personnel/Human Resources Management - A diagnostic approach, 5th edition, Plano, TX, Business Publications, 1988.

2. Shaun Tyson and Alfred York, Essentials of HRM, 2000, Butter worth Heinemann, A division of Reed Educational and Professional Publishing Ltd.

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