Course Folder/Course Overview
Session: 2019-20 Semester: First
1. General Course Information
1.1 Course Title: Advanced Economic Theory 1.2 Course Code: PDE 104
1.3 Contact Hrs: 40 1.4 Credits: 4
1.5 Semester offered: One 1.6 Lectures:( As per Time Table)
1.7 Teachers Name: Prof. NMP Verma (Module II and III) and Dr. Surendra Meher (Module I and IV)
2. Course Objective
This paper provides an in-depth understanding on different economic theories in the areas of macro economics especially open economy macro economics, international trade and development, theories on economic growth and income distribution, conceptual issues on rural sector such as agriculture, development , labour and employment theories.
3. Course Contents (The course content attached in annexure I) Unit I……… (…10 Lectures)
Unit II: ……….. (…10 …………Lectures) Unit III: ……… (…10 ………Lectures) Unit IV: ……… (…10 …………Lectures) Total 40 lectures excluding tutorial class
4. Courses Content PDE 104: Advanced Economic Theory
Module I Surender Meher
Theories of Economic Growth and Development; Classicals and Later Development, Human Development and Economic Growth, Theories of Labour Market and Implications for Developing countries, Dualistic Theories and Models of Agricultural Development.
Total lectures: 10 Module II: NMP Verma Macroeconomic Issues and Applications: Role of Macro theories in Development of Open and Closed Economy, Macroeconomics in a Global Context and cross country connections, Free trade- Ricardo and Resistance, Monetary Policy in an Open Economy, International Financial Institutions, History of Long global Growth, Growth Experiences, Development Policies, Macroeconomic Challenges: Ecology, Stability and Sustainability
Total lectures: 10
Module: III NMP Verma
Income Generation and Redistribution-Variants of Income Policy-Jawboning, Wage-price, Price Freeze, Tax based, Carrot and Stick Approach, Neo-Keynesian Approach, Income Distribution- Classical, Marxian, Kalecki, Kaldor and Pasinetti
Total lectures: 10
Module: IV Surender Meher
International Trade and Economic Development; Classical View Points and their Critique; Singer Prebisch, Myrdal and Samir Amin, Trade Protection; Tariff under Partial and General Equilibrium Framework. The Open Economy Macroeconomics; Theory of Balance of Payment and Theories of Foreign Trade Multiplier.
Total lectures: 10 5. References
Unit 1&4
4.1 Sen, A.K.(1975): Employment, Technology and Development, OUP, New Delhi.
4.2 Todaro, M.P.: Economic Development Parson, 2009.
4.3 Thirlwal, A.P. Growth and Development, Macmillan, UK,1999.
4.4 Solow, R.M. (1990), Labour Market as an Institution, Blackwell, London.
4.5 Bhardwaj, Krishna (1992), Labour Markets, Employment Policies and Dynamics of Development, Bangladesh Institute of Development Studies
4.6 Campbell, R.M .and S.L. Brue (1995): Contemporary Labour Economics, McGraw Hill, NY.
4.7 Ghosh Jayati, Macroeconomic Reforms and Labour Policy Framework for India, Employment Strategy Paper, ILO, Geneva, 2004
4.8 Ghatak, S: An Introduction to Development Economics. Allen and Unwin London, latest edition.
4.9 Hayami, Y. Development Economics, Oxford University Press, New York, 2010 (5th Impression)
4.10 Salvatore, Dominic (2008) International Economics, Wiley Student Edition.
4.11 Sodersten, Bo (1991): International Economics, Macmillan, London.
4.12 Bhagwati, J. (Ed.) (1981), International Trade: Selected Readings, Cambridge University
Press, Mass.
Unit 2-3
4.13 Nelson ,Goodwin and Harris, Macroeconomics in Context, Latest edition 4.14 Blanchard: Macroeconomics, Latest Edition
4.15 Gregory Mankiew, Macroeconomics, Worth Publishers, Harvard
4.16 NMP Verma (2012), Recession and its aftermath, Chapter1: Adjustments in the United States, Australia, and the emerging Asia, Springer.
4.17 NMP Verma, A Singh, S Verma (2013), Food Security, Inflation and Fiscal Deficit in Indian Economy,International Journal of Economics and Business Modeling 4 (1), 209
4.18. D Singh, and Verma, NMP (2016), Tradeoff between Inflation and Unemployment in the Short Run: A Case of the Indian Economy, International Finance and Banking 3 (1), 77
4.19. NMP Verma (2017), Macroeconomic Instability in Indian Economy: A Contemporary Short Run Analysis, International Journal of Social Science and Development Policy 3 (2), 154
4.20. Deepanjali Das, and NMP Verma (2017), Demonetization and Remonetization Coexistence:
Theoretical Implications in Recent Indian Context, International Journal of Social Science and Development Policy 3 (1), 153
4.21. Verma, N. M. P. (2017). Falling Employment and Growth Rates. Economy India, 10-11.
4.22. Pratinidhi and Verma, NMP, (2018), Short Run and Long Run Causality in Inflation, Export and the Lending Rate: An Empirical study of India, International Journal of Social Science and Development Policy 4 (1), 24
5. Outcome of the Course
One of the important aims of this course is to obtain basics for research orientation in the areas of theories and their linkages with practices which will be helpful to students to formulate their research problems.
6. Evaluation Pattern of the Course
Assignment/Term paper/Seminar 15 :……..%
Mid Semester Exam : 15……….%
End Semester Exam :…70 ……….%
Details of Proposed Lectures Lecture Topic/Courses to be taught
1-10 Module 1: Theories of Economic Growth and Development
1-4 Classical theory of economic growth and development. Later development.
5-7 Human Development and Economic Growth
8-10 Labour Market Theories, Implications of Labour Market in the Event of Globalisation and Liberalisation.
11-12 Dualistic Theories, Models of Agricultural Development 13-22 Module II Macroeconomic Theories and Applications 13
14-15
Role of Macro theories in Development of Open and Closed Economy Macroeconomics in a Global Context and Cross Country Connections 16-17 Free trade- Ricardo and Resistance
18-19 Monetary Policy in an Open Economy, International Financial Institutions 20 History of Long global Growth, Growth Experiences and Development
Policies
21-22 Macroeconomic Challenges: Ecology, Stability and Sustainability 23-32 Module III Income Generation and Redistribution
25 Variants of Income Policy-Jawboning
26 Wage-price, Price Freeze
27 Tax based, Carrot and Stick Approach 28
29-32
Neo-Keynesian Approach,
Income Distribution-Classical, Marxian, Kalecki, Kaldor and Pasinetti 33-44 Module IV International Trade and Economic Development
33-35 Classical View Points of Trade and Development, their Critique; Singer Prebisch, Myrdal and Samir Amin,
36-37 Trade Protection; Tariff under Partial and General Equilibrium Framework.
38-39 Theory of Balance of Payment
40 Theories of Foreign Trade Multiplier.
Course Folder/Course Overview
Session: 2019-20 Semester: First
1. General Course Information
1.1 Course Title: Contemporary Macro Economic Issues of India 1.2 Course Code: MDE/PDE: 102
1.3 Contact Hrs: 40 1.4 Credits: 4
1.5 Semester offered: One 1.6 Lectures:( As per Time Table)
1.7 Teachers Name: Prof. NMP Verma 2. Course Objective
1. To familiarize students with the major perspectives of Macroeconomic development.
2. To sensitize Scholars with the nature and magnitude of the main contemporary issues in development at national level.
3. To acquaint them with the Indian development challenges and enable them to development a sound understanding and problem solving exposure.
3. Course Contents (The course content attached in annexure I) Unit I……… (…10………...Lectures)
Unit II: ……….. (…10 ……….Lectures) Unit III: ……… (…10 ………..Lectures) Unit IV: ……… (…10 …………..…Lectures) Total : 40 lectures excluding tutorial class
4. Courses Content PDE 102: Contemporary Macro Economic Issues of India Module I
Indian Hunger Index, Suppressing Consumption and Slowdown, Consumption deficit- Malnutrition in India, Rising Unemployment, Falling price level,
Total lectures: 10 Module II:
Externalities of FDI, Direct Tax in India, Regulation of GST, Falling in Interest Rate, Relation
between Inflation and Unemployment during Slowdown,.
Total lectures: 10
Module: III
RBI money transfer to Government, Falling Fiscal deficit and its impact, Falling Forex Reserve and Increasing Imports, Falling Investment Rate, Slowdown and causes of slowdown in current economy,
Total lectures: 10 Module: IV
Growth recession and decline growth in manufacturing sector, Trade war between USA China and decline in Consumption demand, Slowdown in Economy and fall in GDP, Declining manufacturing sector.
Total lectures: 10 5. References
• NMP Verma (2012), Recession and its aftermath: Adjustments in the United States, Australia, and the emerging Asia, Springer.
• NMP Verma, A Singh, S Verma (2013), Food Security, Inflation and Fiscal Deficit in Indian Economy,International Journal of Economics and Business Modeling 4 (1), 209
• D Singh, and Verma, NMP (2016), Tradeoff between Inflation and Unemployment in the Short Run: A Case of the Indian Economy, International Finance and Banking 3 (1), 77
• NMP Verma (2017), Macroeconomic Instability in Indian Economy: A Contemporary Short Run Analysis, International Journal of Social Science and Development Policy 3 (2), 154
• Deepanjali Das, and NMP Verma (2017), Demonetization and Remonetization Coexistence:
Theoretical Implications in Recent Indian Context, International Journal of Social Science and Development Policy 3 (1), 153
• Verma, N. M. P. (2017). Falling Employment and Growth Rates. Economy India, 10-11.
• Pratinidhi and Verma, NMP, (2018), Short Run and Long Run Causality in Inflation, Export and the Lending Rate: An Empirical study of India, International Journal of Social Science and Development Policy 4 (1), 24
• 12th Plan Documents Government of India and Government, Planning Commission, Government of India.
• Census, Govt. of India, 2011.
• Economic Survey of India, Planning Commission, Govt. Of India,2018-19
• Government of India and Government of Uttar Pradesh, Ministry of Home Affairs. All the census Reports including 2011.
• India Development Reports, India Gandhi Institute for Research and Development Mumbai
• RBI Occasional Papers, RBI, Mumbai, Various Issues
• RBI Reports on Currency and Finance, RBI, Mumbai, Various issues
• RBI Reports on Trend and Progress of Banking, RBI, Mumbai, various issues Note: Other papers of journals and reports have been referred during teaching.
5. Outcome of the Course
One of the important aims of this course is to obtain advance knowledge for research orientation in the areas of Indian Macro Economics.
6. Evaluation Pattern of the Course
Assignment/Term paper/Seminar 15 :……..%
Mid Semester Exam : 15……….%
End Semester Exam :…70 ……….%
Details of Proposed Lectures Lecture Topic/Courses to be taught
1-10 Module 1
1-2 Indian Hunger Index
3-4 Suppressing Consumption and Slowdown 5-6 Consumption deficit- Malnutrition in India
7-8 Rising Unemployment
9-10 Falling price level
11-20 Module 2
21-22 Externalities of FDI
23-24 Regulation of GST
25-26 Direct Tax in India 27-28 Falling in Interest Rate
29-30 Relation between Inflation and Unemployment during Slowdown
21-30 Module III
21-22 RBI money transfer to Government 23-24 Falling Fiscal deficit and its impact
25-26 Falling Forex Reserve and Increasing Imports 27-28 Falling Investment Rate
29-30 Slowdown and causes of slowdown in current economy
31-40 Module IV
31-32 Growth recession and decline growth in manufacturing sector, , , 33-34 Trade war between USA, China and decline in Consumption demand 35-36 Slowdown in Economy and fall in GDP
37-38 Declining manufacturing sector.
39-40 Synopsis Discussion
Course Folder/Course Overview
Session: 2019-20 Semester: Second
1. General Course Information
1.1 Course Title:DE 201: Economics of Growth and Development 1.2 Course Code: MA, DE 201
1.3 Contact Hrs: 48L + 12 T 1.4 Credits: 6
1.5 Semester offered: two 1.6 Lectures:( As per Time Table)
1.7 Teachers Name: NMP Verma 2. Course Objective
The paper provides fundamental foundation of basic growth and development issues, approaches and models. The paper attempts to discuss the structure and change in variables. It helps understand the overall static and dynamic perspectives of the economy in a purely theoretical perspective. Therefore, the paper
1. familiarizes PG students with the major perspectives of theories on growth and development.
2. sensitizes PG students with the nature and magnitude of the main contemporary issues on development.
3. enables PG students on creativity improvement relating to growth and development issues.
3. Course Contents (The course content attached in annexure I) Unit I……… ( 12……….Lectures)
Unit II: ……….. (…12 ……….Lectures) Unit III: ……… (…12………..Lectures) Unit IV: ……… (…12 …………..…Lectures) Total : 48 lectures excluding 12 tutorial class
4. Course Content DE 201: Economics of Growth and Development .
No. of Lectures, tutorials, contact hours: 15 x 4 = 60 hours Module I
Meaning and Objective of Growth, Development and Sustainability – Traditional View and Modern view, Factors in Economic Development- Natural Resources, Population, Capital, HRD and
Infrastructure. Explanations of Cross Country Diffentials.Theories of Development – Classical Theory (Smith, Ricardo, Malthus), Karl Marx, Crisis in Capitalism – Schumpeter and Capitalistic Development, Rostow’s Theory of Stages of Growth Myrdal’s Backwash and Spread Effects.
Module II
Approaches to Development: Partial Theories, Vicious Circle of Poverty (Nurkse). Dependency Theory of Development. Lewis approach of Unlimited Supply of Labour. Big Push Approach, Balanced Growth Approach, Unbalanced Growth Approach. Critical Minimum Effort Thesis.
Nelson’s Low Level Equilibrium Trap. The Listian Trap.
Module III
Growth Models –,Harrod-Domar -Instability of Equilibrium, Technical Progress and Economic Growth, Neo Classical Growth Models – Solow. Growth and Distribution Model of Kaldor, Corrected Model of Passineti, Optimal Savings and Ramsay’s Rule. Romer Model of Endogenous Growth, Growth Models of John Robinson, Schultz Model- Education, Human Capital and Economic Growth.
Module IV
Measuring Development and Development Gap - Conventional, Inequality of Income, HDI and Quality of Life Indices. Theory of Demographic Transition, Population and Economic Development.
Indicators and Measurement of Poverty. The Concept of Inclusive Growth- with Reference to India.
Institutions and Economic Growth, Techniques of Planning- Planning in a Socialist and Capitalist Economy Market failure and government failure. . Reading List:
1. Ghatak, S: An Introduction to Development Economics. Allen and Unwin London, latest edition.
2. Meier, G.M: Leading issues in Economics Development, OUP, New Delhi, Latest edition 3. Todaro, M.P.: Economic Development Parson, 2009.
4. Thirlwal, A.P. Growth and Development, Macmillan, UK,1999.
5. Hayami, Y. Development Economics, Oxford University Press, New York, 2010 (5th Impression)
6. Somasekher, NT: Developmental Economics, New Age Publication (Latest edition)
7. Mankiew, G: Macro Economics: Theory and Practices, Harvard Publication (Latest Impression)
References
1. Das Gupta, Depankar: Growth Theory, OUP, 2007
2. Basu, Kaushik, Issues in Economic Theory, part I and II, OUP, 2010
3. NMP Verma (2012), Recession and its aftermath: Adjustments in the United States, Australia, and the emerging Asia, Springer.
Note: Other papers of journals and reports have been referred during teaching.
5. Outcome of the Course
One of the important aims of this course is to obtain advance knowledge on growth and development.
6. Evaluation Pattern of the Course Assignment/Term paper/Seminar 15 % Mid Semester Exam : 15 %
End Semester Exam :…70 %
Tentative Details of Proposed Lectures Module 1
1. Meaning and Objective of Growth 2. Development and Sustainability – Traditional View and Modern view, 3-5.Factors in Economic Development- Natural Resources, Population, Capital, HRD and Infrastructure. 4.Explanations of Cross Country Differentials. 6-8.Theories of Development – Classical Theory (Smith, Ricardo, Malthus), Karl Marx, 9.Crisis in Capitalism – Schumpeter and Capitalistic Development, 10. Rostow’s Theory of Stages of Growth 11.Myrdal’s Backwash and Spread Effects.
Module II
12.Approaches to Development 13. Partial Theories, 14.Vicious Circle of Poverty (Nurkse).
15.Dependency Theory of Development. 16.Lewis approach of Unlimited Supply of Labour. 17.Big Push Approach, 18.Balanced Growth Approach, 19.Unbalanced Growth Approach. 20.Critical
Minimum Effort Thesis. 21.Nelson’s Low Level Equilibrium Trap. 22.The Listian Trap.
Module III
23.Growth Models –,Harrod-Domar -Instability of Equilibrium, 24.Technical Progress and Economic Growth, 25.Neo Classical Growth Models – Solow. 26.Growth and Distribution Model of Kaldor, 27.Corrected Model of Passineti, 28.Optimal Savings and Ramsay’s Rule. 29.Romer Model of Endogenous Growth, 30.Growth Models of John Robinson, 31.Schultz Model- Education, 32- 33.Human Capital and Economic Growth.
Module IV
34-35.Measuring Development and Development Gap - Conventional, 36-37.Inequality of Income, 38.HDI and Quality of Life Indices. 39.Theory of Demographic Transition, 40.Population and Economic Development. 41-42.Indicators and Measurement of Poverty 43. The Concept of Inclusive Growth- with Reference to India. 44.Institutions and Economic Growth, 45-46.Techniques of Planning- 47.Planning in a Socialist and Capitalist Economy 48.Market failure and government failure. .
