PERIYAR UNIVERSITY PERIYAR PALKALAI NAGAR SALEM – 636011 DEGREE OF MASTER OF ARTS CHOICE BASED CREDIT SYSTEM SYLLABUS FOR M.A. ECONOMICS ( SEMESTER PATTERN ) ( For Candidates admitted in the Colleges affiliated to Periyar University from 2017-2018 onwards ) MA ECONOMICS PERIYAR UNIVERSITY REGULATIONS The following regulations for the M.A., Economics are framed the academic year 2017- 18 and thereafter in the affiliated colleges of the Periyar University, Salem. 1. CONDITIONS FOR ADMISSION A Candidate who has passed B.A., Economics or B. Com., or B.B.M., or B.B.A., or B.Sc., (Maths) B.A (Sociology) or B.A., Women Studies degree examination of Periyar University or an examination of some other University accepted by the syndicate as equivalent thereto shall be permitted to appear and qualify for the M.A., Economics in the affiliated colleges of the Periyar University. 2. ELIGIBILITY FOR THE AWARD OF DEGREE A candidate shall be eligible for the award of the degree only is he/she undergone the prescribed course of study in the college affiliated to the University for a period of not less than two academic years, passed the examination of all the four semesters prescribed by earning minimum 50 percent of marks and fulfilled such conditions as have been prescribed thereafter. 3. DURATION OF THE COURSE The course of the degree of Master of Arts shall consist of two academic years, consisting of four semesters. The course of study shall be based on Choice Based Credits System (CBCS) pattern with internal assessment. For this purpose each academic year shall be divided into two semesters. The First and Third Semesters cover the period from July to November and Second and Fourth Semester from December to April. 4. EXAMINATION There shall be four examinations. The First Semester Examination will be held at the middle of the First Academic Year and the Second Semester Examination at the end of the First Academic Year. Similarly examination will be held at the middle and at the end of the second academic year. 3 MA ECONOMICS PERIYAR UNIVERSITY COURSE OF STUDY AND SCHEME OF EXAMINATION SUBJECT CODE TITLE OF THE COURSE SEMESTER CREDIT SEMESTER - I Core I Micro Economic Theory I I 05 Core II Macro Economic Theory I I 05 Core III Agricultural Economics I 05 Core IV Quantitative Techniques for Economics I 05 Elective I An Outline of Tamil Nadu Economy I 03 SEMESTER - II Core V Micro Economic Theory II II 05 Core VI Macro Economic Theory II II 05 Core VII Econometrics II 05 Core VIII Public Economics II 05 EDC Indian Economic Development II 03 SEMESTER - III Core IX International Economics III 05 Core X Monetary Theory and Policy III 05 Core XI Research Methodology III 05 Elective II Health Economics III 05 EDC Computer Applications in Economics III 03 SEMESTER - IV Core XII Environmental Economics IV 05 Core XIII Industrial Economics IV 05 Core XIV Development Economics IV 03 Research Project & Viva Voce IV 10 TOTAL 90 4 MA ECONOMICS PERIYAR UNIVERSITY Courses A Master degree programme consists of a number of courses. The term course is used to indicate a logical part of subject matter of the programme. The details of credit are as follows:- The details of credit: Core course 14 x 5 : 70 credits Elective Course 3 x 3 : 09 credits EDC 1 x 3 : 03 credits Human Rights : 02 Credits Project : 10 credits ------------- Total : 94 credits ------------- 5 MA ECONOMICS PERIYAR UNIVERSITY REQUIREMENT FOR PROCEEDING TO SUBSEQUENT SEMESTER 1. Candidates shall register their names for the First Semester Examination after the admission in the PG Courses. 2. Candidates shall be permitted to proceed from the First Semester up to Final Semester irrespective of their failure in any of the Semester Examinations subject to the condition that the candidates should register for all arrear subjects of earlier semesters along with current (subsequent) semester subjects. 3. Candidates shall be eligible to go to subsequent semester, only if they earn sufficient attendance as prescribed by the syndicate of the Periyar University from time to time. Provided in the case of candidate earning less than 75 percent of attendance in any one of the semesters due to any extraordinary circumstances such as medical grounds, such candidates who shall produce Medical Certificate issued by the Authorized Medical Attendant (AMA), duly certified, shall be permitted to proceed to the next semester and to complete the course of study. Such candidate shall have to repeat the missed semester by rejoining after completion of final semester of the course, after paying the fee for the break of study as prescribed by the Periyar University from time to time. 4. PASSING MINIMUM A candidate shall be declared to have passed in each paper wherever prescribed if he/she obtains NOT LESS THAN 50 percent OF MARKS prescribed for the examination. He/She shall be declared to have passed the whole examination, if he/she passes in all the papers wherever prescribed as per scheme of examinations earning 90 credits. 5. CLASSIFICATION OF SUCCESSFUL CANDIDATE Candidates who secured not less than 60% of aggregate marks in the whole examination shall be declared to have passed the examination with FIRST CLASS. All other successful candidates shall be declared to have passed with SECOND CLASS. Candidates who obtained 75% of the marks in aggregate shall be deemed to have passed the examination in FIRST CLASS WITH DISTINCTION, provided they passed all the examinations prescribed for the course in the first appearance. 6 MA ECONOMICS PERIYAR UNIVERSITY 6. RANKING Candidate who passed all the examinations prescribed for the course in the FIRST ATTEMPT ONLY is eligible for Classification/Ranking/Distinction. 7. PATTERN OF QUESTION PAPER Time: 3 Hours SECTION A (10 X 2 = 20) Answer ALL Questions SECTION B (5 X 5 = 25) Answer ALL Questions (Either or) Each answer should not exceed 300 words SECTION C (3X 10 = 30) Answer ANY THREE out of FIVE Questions Each answer should not exceed 900 words 7 MA ECONOMICS PERIYAR UNIVERSITY M.A. ECONOMICS SEMESTER - I CORE I - MICRO ECONOMIC THEORY – I OBJECTIVES To make the students understand the behavior of consumer and producer and the concepts of cost and pricing. UNIT-I Utility Analysis– Application of Indifference curve Analysis – Revealed Preference Approach – Hicks Revision of Demand Theory by – Risk and Uncertainty. UNIT-II Production Function – Linear Homogeneous Production Function – Cobb-Douglas Production Function - CES Production function - Production Possibility Curve. UNIT-III Theory of cost – Traditional and Modern Theory of Cost – Types of cost - Derivation of Cost functions – Cost-Output relations in short run and long run. UNIT-IV Market structure – price and output determination under prefect competition – Monopoly – Monopolistic Competition – selling cost - Price output equilibrium under selling cost. UNIT-V Need for separate theory of factor pricing – factor pricing under perfect competition and imperfect competition (Fellner, Dunlop and Carter) REFERENCES : 1. Koutsoyiannis, A (1979): Modern Microeconomics (2nded), Macmillan Press, London. 2. Sen, A: (1999): Microeconomics: Theory and Applications, Oxford University Press, New Delhi. 3. Samuelson Nordhas: Economics, Tata McGraw Hill Publishing Ltd, New Delhi. 4. Jhingan .M.L. (2009), Advanced Economic Theory, Vrinda Publications (p) Ltd, New Delhi. 5. Ahuja, H.L. (2006); Advanced Economic Theory, Sultan Chand and Co., New Delhi. 6. Varian H. (200) Micro Economic Analysis, W.W. Norton, New York. 7. Salvatore, Dominick (1991), Micro Economic Theory, 3rd Edition, McGraw Hill, New Delhi. 8 MA ECONOMICS PERIYAR UNIVERSITY M.A. ECONOMICS SEMESTER - I CORE II - MACRO ECONOMIC THEORY – I Objectives This paper would help the students to learn about the concepts, issues and Theories of Macro Economics. They would also be exposed to the practice of Macro Economic Policies in India. UNIT-I General Macroeconomics Concepts Nature and scope of Macro Economics – Variables - Dependent and Independent Variables - Endogenous and Exogenous Variables Stock and Flow variables - Functional Relationships and parameters. Macro Statics, Macro Dynamics and Comparative Macro Statics and Dynamics. UNIT-II National Income and Product Aggregates Concepts of National Income – Relation between National Income Aggregates - Measurement of National Income - Conceptual problems in the Estimation of GNP - Techniques of Social Accounting, Input- Output Analysis, Flow of Funds Accounting. UNIT-III Theories of Consumption Function Consumption Function - Keynes' Psychological Law of Consumption - Absolute Income Hypothesis, Duesenberry Hypothesis - Demonstration Effect - Permanent Income Hypothesis - Life Cycle Hypothesis. Unit – IV Multiplier- Accelerator Interaction Keynes' Investment Multiplier- Working of Multiplier - Leakages and the Multiplier – Principle of Acceleration – Functioning and Limitations - Super Multiplier – Samuelson's Multiplier Accelerator Interaction. Unit – V Supply Side Economics Supply side Economics- Essentials of Supply Side Economics - Laffer Curve Analysis - Policy Implications of Supply Side Economics - Limitations of Supply Side Economics. 9 MA ECONOMICS PERIYAR UNIVERSITY REFERENCES 1. Rosalind Levacic : Macro Economics, Macmillan Press Ltd., London. 2. Gurley, J. and E.S. Shaw (1960), Money in a Theory of Finance, Brookings Institution, Washington. 3. Lucas, R. (1981), Studies in Business Cycle Theory, M.I.T. Press, Cambridge, Masscechusetts. 4. Dwivedi. D.N.(2005), Macro Economics Theory and Policy, Tata McGraw