TYBA Economics1_1 Syllabus Mumbai University

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AC- 29/06/2021
Item No. 5.37 (R)


UNIVERSITY OF MUMBAI









Revised Syllabus for the
T.Y.B.A. (Economics)
Sem - V and VI

(As per the Choice Based Credit System with effect from the academic
year 2021 -22)

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UNIVERSITY OF MUMBAI


Syllabus for Approval
Sr. No. Heading Particulars
1 Title of the Course T.Y.B.A. (Economics )
2 Eligibility for Admission As per University Rule
3 Passing Marks -
4 Ordinances / Regulations
( if any) -
5 No. of Years / Semesters One Year / Two Semesters
6 Level U.G.
7 Pattern Semester
8 Status Revised
9 To be implemented from
Academic Year From Academic Year 2021 -2022



Name & Signature of BOS Chairperson :

Name & Signature of Dean:

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PREAMBLE :


The syllabus of TYBA has been revised owing to the revised syllabus introduced by the University of
Mumbai for FY and SYBA as per the recommendation of Board of Studies of Economics (BOS -E) by
keeping in view of the recent trends in the subject of Economic s. The BOS -E has further revised the
syllabi of papers at the TYBA which will be made effective from the Academic Year 2021 -22. A broad
overview of the revised structure, which includes the core papers and electives as described below.

DURATION:
 The cours e shall be a full time course.
 The duration of B.A. course shall be of Three years across Six Semesters.


FYBA: SEMESTER – I & II (One paper each semester)
SYBA: SEMESTER – III & IV (Two papers each semester)
TYBA: SEMESTER – V & VI (Six papers each semester)

PATTERN:


The T.Y.B. A. [Entire Economics] Course shall have 12 papers. Every semester shall have six papers,
each carrying 100 marks. However students can opt for combination of any two subjects in Economics
and the rest in any other subject) in which every semester shall have three papers of each Subject,
carrying 100 marks each. Moreover, exams based on Papers IX and Papers XII of Semester V and Paper
XV and XVIII of Semester VI are bifurcated into 80 marks of written exam and 20 marks of pro ject. It is
hereby stipulated that the projects shall have a maximum page limit of 20.

CASE STUDY APPROACH

As per the latest guidelines issued by UGC in 2021, the themes of the Projects related to applied
component papers IX and XII of semester V and papers XV and XVIII of semester VI are resolved to be
based on Case Study Approach. Even for the Core Papers and Electives, the relevant modules are
focused on Case Study approach.

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SCHEME OF EXAMINATION

The duration of the examination, paper pattern and the allotment of lectures as well as marks are given in
detail in subsequently.
DURATION:


 Three Hour s for each 100 marks paper and Two and Half an Hour for 80 marks paper.


ALLOTMENT OF LECTURES :


 The allotment of lectures is as per the common guidelines stipulated by the Academic Council for
Humanities of University of Mumbai.

PAPER PATTERN:


 There shall be five questions each of 20 marks, for 100 marks paper divided into three sub questions
(a, b, c) with an internal option to choose any two.
 There shall be four questions of 20 marks for 80 marks paper with internal options mentioned as the
same above.
 All questions shall be compulsory with internal choice within the questions.
 Questions may be subdivided into sub -questions a, b, c as mentioned earlier and the allocation
of marks shall depend on the weightage given to the topic.


Questions Modules Marks
Qn.1 Unit I 20
Qn.2 Unit II 20
Qn.3 Unit III 20
Qn.4 Unit IV 20

Qn.5 4 Sub -questions from Unit I, II, III & IV
OR
20 MCQs from Unit I, II, III & IV
20

Page 7

COURSE STRUCTURE
(APPLICABLE FROM ACADEMIC YEAR: 2021 -22)
TYBA (SEMESTER –V)


COURSE CODE REVISED PAPER CREDIT MARKS
GROUP - I : CORE PAPERS
ECOAME501 VII ADVANCED MICROECONOMICS – III 4 100
ECOGAD502 VIII ECONOMICS OF GROWTH AND
DEVELOPMENT 4 100
GROUP -II : ELECTIVE PAPERS
ECOIFSA503 IX INDIAN FINANIAL SYSTEM -I 3 80
OR
ECOACB503 IX ECONOMICS OF AGRICULTURE
AND CO - OPERATION – I 3 80
OR
ECOILC503 IX INDUSTRIAL AND LABOUR
ECONOMICS – I 3 80
ECORMA504 X RESEARCH METHODOLOGY - I 4 100
OR
ECOQEB504 X QUANTITATIVE ECONOMICS - I 4 100
OR
ECOESSIC504 X ENTREPRENEURSHIP & SMALL SCALE
INDUSTRIES 4 100
ECOEEA505 XI ENVIRONMENTAL ECONOMICS -I 4 100
OR
ECOEIB505 XI ECONOMICS OF INSURANCE - I 4 100
OR
ECOMEAC505 XI MATHEMATICS FOR ECONOMIC
ANALYSIS - I 4 100
ECOEMA506 XII ECONOMY OF MAHARASHTRA -I 3 80
OR
ECOHETB506 XII HISTORY OF ECONOMIC THOUGHTS – I 3 80
OR
ECOIBFC506
XII INTERNATIONAL BANKING AND
FINANCE – I 3 80

Page 8

TYBA ECONOMICS (SEMESTER -V)


COURSE CODE GROUP -I : CORE PAPER
PAPER NO -VII CREDIT MARKS
ECOAME501 ADVANCED MICROECONOMICS - III 4 100



Course Objectives


The course is designed to provide sound understanding in micro economic theory. Since students have
been taught perfect competition, this course focuses on three main pillars of microeconomics such as
imperfect competition, welfare economics and information economics.

Course Outcomes


 Enables students to get knowledge on new market structure, imperfect competition. 
 Provides understanding on the welfare economics and economics of information. 

Module 1: General Equilibrium and Welfare Economics (12 Lectures)


Concept of General Equilibrium and Walrasian General Equilibrium Model - Pareto Optimality – The
Pareto Optimality Condition of Social Welfare - Marginal Conditions for Pareto Optimal Resource
Allocation - Perfect Competition and Pareto Optimality - Arrow’s Impossibility Theorem

Module 2: Market Structure: Monopoly and Monopolistic Competition (14 Lectures)


Concept of Monopoly - Measurement of Monopoly Power - Price Discrimination: Types and
Classificatio n of Price Discrimination (Degrees of Price Discrimination) - Equilibrium under
discriminating Monopoly - Regulation of Monopoly Market Product Differentiation in Monopolistic
Competition - Chamberlin’s Alternative approach - Equilibrium under Monopolistic Competition - Excess
Capacity

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Module 3: Oligopoly (12 Lectures )


The Cournot Model - Meaning and Characteristics of Oligopoly Market - Rigid Prices - The Sweezy
Model of Kinked Demand Curve - Collusive Oligopoly - Cartel: Centralised and Market Sharing Cartel -
Imperfect Collusion - Price Leadership Models, Game Theory - Prisoner’s Dilemma, Nash Equilibrium
and Dominant Strategy Equilibrium

Module 4: Information Economics (12 Lectures )


Economics of Search and Search Cost - The Theo ry of Asymmetric Information -The Market for Lemons
and Adverse Selection - Risk Preference and Expected Utility - The Problem of Moral Hazard - Market
Signaling - Principal -Agent Problem

References:


1. Jhingan MLL. (2012), Advanced Economic Theory, Vrinda Publications, Delhi.
2. Mankiw N. Gregory (2015), Principles of Microeconomics, Cengage Learning.
3. Mansfield, Edwin (1985), Micro -economics: Theory & Applications, 5th edition, W.W. Norton &
Company, New York.
4. Patil K. A (Second edition, 2011, Marathi), Advanced Economic Theory -Micro Analysis,
Shri Mangesh Prakashan, Nagpur.
5. Salvatore D. (2006), Microeconomics: Theory and Applications, Oxford University Press,
New Delhi.
6. Varian Hal R. (8 Edition 201 0) Intermediate Microeconomics A Modern Approach, East -West
Press, New Delhi

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TYBA (ECONOMICS ) (SEMESTER -V)


COURSE
CODE GROUP -I : CORE PAPER
PAPER NO - VIII CREDIT MARKS
ECOGAD502 ECONOMICS OF GROWTH AND DEVELOPMENT 4 100

Course Objectives


This paper introduces the concepts, theories, process and policies regarding growth and development.
The meaning of the development as it has evolved over the years is clarified. The contemporary as well
as classical theories of growth, development, and un derdevelopment are considered in detail. Theories
and issues related to population, poverty, inequality and human capital are considered. Urban and rural
aspects of the development process studied. Importance of technology, infrastructure and planning in
development process are considered. The approach has been to cover all important areas of development
economics.

Course Outcomes
 Enable students to apply and analyse issues in the development process.
 Students will be able to identify the issues related to Growth and Development 
 Students will be able to understand the policy options and analyzed the Measures taken for the
Development of an economy. 

Module 1: Meaning of Economic Growth and Development (12 Lectures)


Concepts of Economic Growth and Developm ent-Distinction between Economic Growth and
Development - Concept of Human Development - H.D.I, G.D.I, Green GDP - Sen’s Capability
approach - Millennium Development Goals (MDGs) - Initiative by Indian government towards MDGs.

Module 2: Theories of Economi c Development (12 Lectures)


Rostow’s stages of growth; Big Push Theory - Leibenstein’s Critical Minimum Effort
Thesis - Harrod - Domar Growth Model - Lewis Model of unlimited supply of labour - Ragner Nurkse’s
Theory of Disguised Unemployment - Schumpeter’s Theory of Development

Page 11

Module 3: Structural Issues in Development Process (12 Lectures)


Concept of Human Capital - Role of Education, Health and nutrition in Human Capital - Meaning and
Measurement of Poverty and Inequality - Measures to eradicate poverty and Inequality - Meaning of
Inclusive growth - SHG and Microfinance - Migration – Urbanization - Formal and Informal
Sector - Urban Informal Sector

Module 4: Planning, Technology and Economi c Development (12 Lectures)


Concept and Role of infrastructure in Economic Development - Role of technology in Economic
Development - Labour intensive versus Capital intensive technology - Schumacher’s concepts of
intermediate and appropriate technology - Green Technology - Meaning and Types of Economic
Planning - Role of Planning in Economic Development

References:


1. Boldwin, Economic Development: Theory, History and Policy, Willy Publishers, 1957.
2. Mamoria , Joshi, Principles and practice of marketing in India, Kitab Mahal, 1979.
3. Meier, Gerald M. and James E. Rauch. Leading Issues in Economic Development, New Delhi: Oxford
Univ. Press, 2006.
4. Thirlwall, A.P. Growth and Development 8e. New York: Palgrave MacMi llan, 2005. 7
5. Todaro, Michael P. and Stephen C. Smith. Economic Development, 8e. Delhi: Pearson Education,
2003.
6. V.K. Puri and S.K. Mishra, Indian Economy, Himalaya Publishing House, 2019

Page 12

TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -I : CORE PAPER
PAPER NO – IX CREDIT MARKS
ECOIFSA503 INDIAN FINANCIAL SYSTEM – I 3 80

Course Objectives

In this semester the students get introduced with various aspects related to Indian Financial system.
Indicators of financial development will be introduced and overview of financial sector reforms will be
undertaken. Students will be able to understand performance, progress and issues in Indian Banking
system. An overview of development of non -banking institutions in India will be undertaken. Students
will a lso be introduced with traditional, modern and hybrid financial instruments.

Course Outcomes

 Empowering students about Indian Financial system, indicators of financial development and
overview of financial sector reforms
 Awareness on performance, progres s and issues in Indian Banking and overview of non -banking
institutions in India
 The course leads to project work/ case studies based on empirical examples such as: Management of
NPAs by banks, performance analysis of commercial banks, financial instrument s- comparative
analysis, performance of NBFIs

Module 1: Introduction to Indian Financial System (12 Lectures )

Evolution - meaning -characteristics – components - significance - Financial system and economic
development - Indicators of Financial Development: FR, FIR, NIR and IR. -Reforms and trends/ turns in
Indian financial sector: 1991 -2019.

Module 2: Performance, Progress and Issues in Indian Banking (12 Lectures )


Overview of development of Banking in India -Commercial banking -Liquidity management -Commercial
banking developments since mid 1980s - Management of NPAs -Concept of Bad bank -Mudra bank
scheme - Capital adequacy norms - Basel III

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Module 3: Non - banking Finance Institutions in India (12 Lectures)


Overview of development of non - banking institutions in India – Growth - Components, types, role in
financial system - Regulation of NBFIs -Provident funds - Pension funds - Venture capital funds

Module 4: Financial Instruments: Traditional, Modern and Hybrid (12 Lectures )


Traditional instruments: equities - debentures and bonds -Hybrid instruments - different types of bonds
such as floating rate bonds - zero interest bonds - deep discount bonds - inverse float bonds -sovereign gold
bonds - municipal bonds - convertible debentures - warrants, Cryptocurrency - Derivatives - meaning,
concept and types of derivatives

References:


1. Bhole, L. M. (2008): Financial Institutions and Markets, Growth and Innovation, Tata McGraw -
Hill, New Delhi.
2. Khan, M.Y. (2007): Financial Services, Tata McGr aw Hill, New Delhi.
3. Machiraju, Indian Financial system, Vikas publishing house, 2nd edition, 2002.
4. Pathak, Bharati (2008) : The Indian Financial System -Markets, Institutions, and Services,
(2nd Edition), Pearson Education, New Delhi.
5. Strong, R. A. (2002): Derivatives: An introduction; Thomson Asia Pte Ltd, Bangalore.
6. Varshney P N and Mittal D K, Indian financial system, sultan Chand and sons , New Delhi, 2002.

Page 14

TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – IX CREDIT MARKS

ECOACB503 ECONOMICS OF AGRICULTURE AND
CO-OPERATION -I
3
80

Course Objectives


This paper provides an overview of the role of agriculture in the economic development of the country
and the salient features associated to agricultural productivity and agricultural labour. The pertinent
aspects related to agricultural credit, agricultur al marketing as well as the global problems existing in the
marketing are dealt in. Students can acquire understanding about the features of agricultural policy and
the agrarian crisis as well as the problems and challenges in the field of Agriculture and cooperation.

Course Outcomes


 Students will obtain information regarding various agricultural issues in India and remedies for it.
 Making awareness about self - employment through various local business like agro - tourism, travel
agents, horticulture, floriculture, fishery and animal husbandry. 

Module 1: Agricultural Productivity (12 Lectures)

Role of agriculture in Economic Development - Cropping pattern in India, Recent trends, Factors
affecting - cropping pattern - Physical, Technical and Economic - Agricultural Productivity, Causes of
Low Productivity in Agriculture - Measures taken to improve the Agricultural Productivity in
India - Irrigation and Water Management and agricultural development - Agricultural labour Problems
and suggestio ns.

Module 2: Agricultural Credit (12 Lectures)

Institutional and Non -Institutional Sources of Credit Co -operative Credit and Agriculture Rural
Indebtedness - Commercial Banks and Regional Rural Banks - Microfinance and NABARD - Role and
Performance - Crop loan and Crop Insurance, Kisan Credit card Yojana.

Page 15

Module 3: Agricultural Marketing (12 Lectures)


Types of Marketing - Corporate, Commodity and Global Problems and Measures of Agricultural
Marketing - Regulated Market - WTO and Indian Agriculture - Problems of Agricultural Marketing and
its measures - National Agricultural Market - FPO – Farmers Producer Organizations

Module 4: Agricultural Price and Policy (12 Lectures)


Food Security in India - Price Policy of CACP Evaluation - Agricultural Crisis and Farmers
Suicide - Agro -Tourism and its policy - Organic Farming - Mechanization of Agriculture

References:

1. Bilgrami S.A.R. (2000), An Introduction of agricultural Economics, Himalaya Publishing House,
Mumbai
2. Datta Ruddra and Mahajan Ashwini (2016), Indian Economy, Chand and Company Ltd., New Delhi.
3. Gupta P. K.,(2012), Agricultural Economics, Vrinda Publications (P) Ltd. Delhi.
4. Mamoria C.B. and B.B. Tripalhi (1991), Agricultural Problems in India, Kitab Mahal, Allahabad.
5. Sadhu and Singh (2008), Fundamental of Agricultural Economics, Himalaya Publishing House,
Mumbai.
6. Tyagi B.P., (2016), Agricultural Economics and Rural Development, Jaiprakash Nath and Co. Meerut.

Page 16

TYBA (ECONOMICS ) (SEMESTER -V)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – IX
CREDIT
MARKS
ECOILC503 INDUSTRIAL AND LABOUR ECONOMICS -I 3 80

Course Objectives

There has been a paradigm shift in the structure of the Indian industrial sector and the policies governing
it ever since the new era of globalization and liberalization has ushered in. This paper intends to equip the
students with the knowledge about the fundamentals of Industrial Economics and also the latest policies
relating to the Indian industry.

Course Outcomes
 Learners will study the different contemporary issues of industrial sector.
 Learners will know the problems of industries. 
 Learners will get the idea about productivity. 
 Learners will get with new Policies and its impact on industries. 

Module 1: Introduction (12 Lectures)

Meaning and Scope of Industrial Economics - Industrial Profile - Private sector - Performance and
Problems - Cooperatives sector and its role, merits and demerits - Public Sector – Role - Performance and
Problems -Role of agriculture in Industrial development, Industrial Combinations - Motives for Mergers
and Acquisitions.

Module 2: Industrial Location and Problem of Regional Imbalance (12 Lectures)

Determinants of Industrial Location, Theories of Industrial Location - Weber's and Sargent Florence's
Theories, Dispersal and Decentralization of Industries, Problem of Regional Imbalance.

Module 3: Industrial Productivity and Industrial Sickness (12 Lectures)

Concept and Measurement of Industrial Productivity - Factors Affecting Industrial Productivity -Industrial
Sickness - Causes, Effects and Remedial Measures - Rationalisation - Concept, Aspects and Impact.

Page 17

Module 4: Industrial Development in India (12 Lectures)

New Industrial Policy, 1991; Disinvestment Policy; Small Scale Industries and Rural Industrialization;
National Manufacturing Policy, 2011 - Recent Trends in India's Industrial Growth - Role of MNCs in the
Indian Economy - Merits and Demerits, Industrial Finance in India.

References:


1. Barthwal R.R. (2007), Industrial Economics, New Age International Publishers, New Delhi.
2. D. Agrawal A.N. (2011), Indian Economy, New Age International Publishers, New Delhi.
3. Datt R. and Sundaram K.P.M. (2009), Indian Economy, S.Chand & Co., New Delhi.
4. Kuchhal S.C. (1980), Industrial Economy of India, Chaitanya Publishing House, Allahabad.
5. Mishra S.K. and Puri V.K.(2008), Indian Economy, Himalaya Publishing House, Mumbai.
6. Ranjana Seth, Industrial Economics (2010), Ane Books Pvt. Ltd., New Delhi.


TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – X CREDIT MARKS
ECORMA504 RESEARCH METHODOLOGY - I 4 100

Course Objectives

This paper contains within the various objectives, such as to understand and make aware as well as
inculcate research in Economics amongst the learners, to encourage exchange of ideas and application of
results of economic research at the same time to enable students in understandin g data collection and
presentation for quality research in social sciences.

Course Outcomes

 The learners will understand and inculcate research in Economics 
 The learners will exchange ideas and application of results of economic research.
 The course will help in formulation of problems in social science research.
 The students will understand data collection and presentation for quality research in social sciences.

Page 18

Module 1: Introduction to Research (12 Lectures )


Meaning and scope of social sc ience research - Basic assumptions of research - Features and importance of
social science research - Objectives and types of research; Basic, Applied, Pure, Descriptive, Analytical,
and Empirical research - Limitations of social science research - Difficulties in social science research

Module 2: Formulation of Problem in Social Science Research (12 Lectures )


Research process: Identification, selection and formulation of research problem -Sources of research
problem - Criteria of a good research problem - Review of literature -Formulation of hypothesis - Research
design: Definition, Concepts, and types - Data Collection and analysis - Interpretation and report
writing - Use of web search in research process.

Module 3: Types of Data: Primary and Secondary (12 Lectures )


Types of Data: Primary data and its collection methods: Observation method - Interview
Technique - Design of schedule and questionnaire - Survey method and Field visits - Secondary
data : Meaning - advantages - sources - relevance and limitations of secondary data - Sampling
Techniques : Census and sample survey - Essentials of a good sampling - Advantages and limitations of
sampling - Types of sampling: Random sampling and Non -random sampling -Sampling and Non -
Sampling errors.

Module 4: Representation and Analysis of Data (12 Lectures )


Classification, Tabulation and Graphical presentation of socio -economic data - Need and importance of
data analysis - Statistical analytical tools: Measures of Central Tendency - Measures of
Variation : Absolute and relative measures - Quartile deviation, standard deviation, coefficient of
variation - Skewness: Meaning and measurement (Karl Pearson’s and Bowley’s methods) - Preliminaries
of computer applications in data organizati on and data processing.


References:
1. Bhandarkar P.L., (1994), Samajik Sanshodhan Padhati, Himalaya Publication, New Delhi.
2. Dawson, Catherine (2002), Practical research methods, UBS Publishers, New Delhi.

Page 19

3. Ghosh, B.N. (1992), Scientific methods and social research, Sterling Publishers Pvt. Ltd, New Delhi.
4. Gupta S P, (1987), Statistical methods, Sultan Chand and Sons, New Delhi.
5. Kothari R.C. (2008), Research methodology, methods and techniques, New Age International
Publishers, New Delhi.
6. Krishnas wamy O.R.(1993), Methodology of research in social sciences, Himalaya publishing House,
Mumbai.


TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – X CREDIT MARKS
ECOQEB504 QUANTITATIVE ECONOMICS – I 4 100


Course Objectives


Economics is increasingly becoming quantitative in nature. This course introduces a variety of
quantitative skills as per the current requirements of industry. The objective of this paper is to equip
students with the mathematical and statisti cal techniques, which are needed for analysis of data in general
and economic analysis in particular.

Course Outcomes

 Students can perform graphical analysis of functions, sketch curves defined by simple equations.
Furthermore, it will help to interpret the algebraic solution of economic concepts
 It will build an ability to explain the economic applications of differentiation, and use it to
understand economic concepts such as elasticity, marginal cost and input - output determination
and linear programmin g.
 Help to develop various quantitative concepts and their application not only in economics but also
for other subjects.

Page 20

Module 1: Equations, Graphs and Derivatives (12 Lectures)


Linear and non-linear relationships in economic analysis – Derivatives – Higher order
derivatives – Increasing and decreasing functions - Necessary and sufficient conditions for maxima and
minima – Optimization of economic functions - Economic applications: equations and graphs Market
demand and supply models, taxes, elasticity.


Module 2: Linear Algebra (12 Lectures)


Matrices and basic operations on matrices – Rank of a matrix – Inverse of a matrix – Cramer’s rule and its
application to the IS -LM model -Input -Output Analysis and policy implications – Linear Programming
Problem: Formulation and graphical solution.

Module 3: Descriptive Statistics and graphing techniques for presenting data (12 Lectures)


Concept of primary and secondary data along with tabulation and graphs – Measures of central tendency
(arithmetic mean, median and mode) – Absolute and relative measures of dispersion (range, quartile
deviation, mean deviation and standard deviation) with simple applications – Measures of skewness and
kurtosis – Lorenz Curve

Module 4: Elementary Probability Theory (12 Lectures)


Sample space and events – Mutually exclusive - Exhaustive and complementary events – Conditional
probability – Binomial probability distribution – Nature and Properties of the Normal Probability
Distribution -Standard Scores and the Normal Curve -The Standard Normal Curve: Finding Areas when
the Score is Known - Finding Scores when the Area is Known.

References:


1. Chiang A. C.: Fundame ntal Methods of Mathematical Economics, 3rd edition, McGraw -Hill, 1984.
2. Dowling Edward T: Introduction to Mathematical Economics, Schaum Outline Series in
Economics, Tata McGraw -Hill, New Delhi, 2004.
3. Dowling Edward T: Theory and Problems of Mathematical Methods for Business and Economics,
McGraw Hill, 1993.

Page 21

4. Gupta S.P.: Statistical Methods, S. Chand, New Delhi, 2014.
5. Lerner Joel J and P.Zima: Theory and Problems of Business Mathematics, McGraw Hill, New
York, 1986.
6. Sancheti D.C. and V.K. Kapoor: Statistics -Theory, Methods and Applications, S. Chand, New
Delhi, 2014.

TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – X CREDIT MARKS

ECOESSIC504 ENTREPRENEURSHIP & SMALL SCALE
INDUSTRIES
4
100


Course Objectives


This paper is designed with the aim of encouraging students to foresee themselves as potential
entrepreneurs. The paper includes within the scope for case studies, Interviews of Entrepreneurs,
Preparation of project report, group discussion, survey etc.

Course outcomes


 Nurture the qualities of successful entrepreneurship 
 Provides them knowledge about various processers to register for small scale industries which results
in successful maintenances of such industries 

Module 1: Entrepreneurship (12 Lectures)

Concept of an entrepreneur and entrepreneurship, qualities of the successful entrepreneurs - role and
functions of entrepreneurs in economic development - factors influencing entrepreneurship - Challenges
before women entrepreneurship.

Page 22

Module 2: Starting a new venture (12 Lectures)


Project identification - selection and formulation, Registration of small scale industries - project report -
Sources of finance for a business - Export documents and trends of small enterprises - major constrai nts in
export performance.

Module 3: Small scale industries (12 Lectures)


Meaning and scope of small scale industries, importance of small scale industries, problem faced by
small scale industries, SWOT analysis for small scale industries, forms of business organizations: Sole
proprietorship – Features, advantages & disadvantages. Partnership - Features, advantages &
disadvantages. Joint stock Company – Features, advantages & disadvantages. Co -operative – Features,
advantages & disadvantages.

Module 4: Management and incentives for small scale industries (12 Lectures)


Fundamentals of management: productions and operations management - working capital management,
marketing management - Human resource management - Total quality management - Management
information system - Incentives to small scale industries.

References:

1. Barra G.S, Dangwal R.C. Entrepreneurship and Small Scale Industries New Potentials – Deep &
Publications 1999
2. Desai Vasant, Dynamics of Entrepreneurial Development and Management, Himal aya Publication
3. Khanka C.S., Entrepreneurial Development. S. Chand and Company
4. Khushpat S. Jain House Export Import Procedures and Documentation' Himalaya Publishing House
5. Murthy C.S.V. Small Industries & Entrepreneurship Development, Himalaya Publication
6. Singh P.N. and Saboo J.C., Entrepreneurship Management, P.N.Singh Centre

Page 23

TYBA (ECONOMICS ) (SEMESTER -V)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XI
CREDIT
MARKS
ECOEEA505 ENVIRONMENTAL ECONOMICS - I 4 100


Course Objectives

This course introduces the learner to the basic concepts, economic instruments and policy options in
managing the environment. The impact of development on environment is suitably addressed under the
rubric of sustainable development. Economic implications of environmental policy and valuation of
environmental quality are important areas of concern to be covered. The students are sensitized to the
role of human decisions in affecting the environmental quality and managing global environmental
issues. The ca uses, effects and measures to control different types of pollution are impressed upon. The
environmental accounting practices, policies, impact and risk analysis focusses on India.

Course Outcomes


 On the completion of this course, the student will have a good understanding of contemporary
environmental issues and their relation to economic development. 
 The learner will be equipped to understand the methodologies and tools of valuing the environment. 
 In the light of international environmental agreements, the learners will be able to understand the
global approaches and policies adopted by India to deal with the environmental issues.

Module1: Introduction to Environmental Economics (12 Lectures)


Environmental Economics: Nature, Significance and Scope; E nvironment and the economy;
Environmental Kuznets Curve; Common resources, externalities and property rights; Coase Theorem;
Rio Declaration and Agenda 21 programme of action for sustainable development.

Page 24

Module 2: The Design and Implementation of Environmental Policy (12 Lectures)


Criteria for evaluating environmental policies; Tools of Environmental Policy: Standards, Pigovian
taxes/effluent fees, quotas/tradable permits; Choice between taxes and quotas; Environmental Policy:
Regulation and Implementation.

Module 3: Measuring Benefits of Environmental Improvements (12 Lectures)


Economic value of Environment: Use and Non -use values; Measurement methods of environmental
value: Market based and Non -market based methods; Contingent Valuation Method; Travel Cost
Method; Hedonic Price Method.

Module 4: Global Environmental Issues (12 Lectures)


Trade and environment -Overview of t rans-boundary environmental problems -Global Warming - Climate
Change - Energy Crisis - Challenges of urbanization - International environmental agreements.

References:

1. Barry Field and Martha k Field: Environmental Economics, McGraw Hill International Edi tion, 2017.
2. Bennear, Lori Snyder, and Cary Coglianese (2004), Evaluating Environmental Policies, KSG Faculty
Research Working Paper Series RWP04 -049,USA
3. Charles Kolstad : Environmental Economics, Oxford University Press, New York, 2000.
4. Hanley Nick, Shogren Jason and White Ben: Introduction to Environmental Economics, Oxford
University Press, 2001.
5. Mickwitz, Per. (2003). A Framework for Evaluating Environmental Policy Instruments Context and
Key Concepts. Evaluation.
6. Smith Stephen: Environmental Econo mics: A very Short Introduction, 1st Edition, Oxford University
Press, New York, 2011.

Page 25

TYBA (ECONOMICS ) (SEMESTER -V)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XI
CREDIT
MARKS
ECOEIB505 ECONOMICS OF INSURANCE - I 4 100


Course Objectives


The course is designed to provide an understanding of the fundamentals of insurance. Insurance has a
profound impact on the society as it manages, diversifies and absorbs the risk of individuals and
organisations. Insurance companies as risk m anagement service providers serve as bulwarks for the
development of productive activities fuelling demand, facilitating supply and trade. The important role
played by the insurance institutions in mobilizing savings and diverting them for capital formatio n is well
known. In recent years, uncertainties experienced in life have been increasing and this in turn has created
demand for insurance. With the opening of the insurance sector to private players, the interest in the
subject has increased. The paper on Economics of Insurance attempts to provide a fairly comprehensive
view of the subject to the undergraduate students in Economics.

Corse Outcomes


 Identify and define basic terms and concepts of insurance 
 Describe the importance of insurance for an individual and the economy
 Understand the concept of risk and its types, and the process of risk management. 

Module 1: Introduction (12 lectures)


Definition of Insurance, Characteristics of Insurance, Principles of Insurance, Distinction between
Assuran ce and Insurance ,Purpose and need of insurance, Functions of Insurance, Classification of
Insurance, Limitations of Insurance.

Page 26

Module 2: Risk and Risk Management (12 lectures)


Concept of Risk, Risk Vs Uncertainty – Loss and chances of loss, Perils, Hazards, Types of Risk,
Classification of Pure risk, Elements of insurable risk, Losses and methods of handling pure risk,
Asymmetries of information - Adverse selection and Moral hazard in insurance, Risk management
process - Risk analysis, Risk c ontrol, Risk financing, Risk transfer.

Module 3: Recent Trends in Insurance Sector (12 lectures)


Insurance and economic development, Insurance institutions as financial intermediaries; insurance
institution as investment institution; Growth & Performan ce of Public & Private Insurance Companies in
India: Life and Non -Life sector including foreign collaborations; Disinvestment of LIC, Listing of Public
& Private Insurance companies in Stock market; Government policies in insurance – Ayushman Bharat
Yojna, Pradhan Mantri Suraksha Bima Yojna, Pradhan Mantri Jeevan Jyoti Bima Yojna.

Module 4: Reinsurance (12 lectures)


Definition, Objectives of Reinsurance, Role of Reinsurance, Techniques of Reinsurance. Role of
Reinsurer, Role of General Insurance Corporat ion of India (GIC Re), Issues and challenges in Indian
Reinsurance.

References:


1. Dr. PK Gupta (2011), Insurance & Risk Management, Himalaya Publishing House.
2. Dr. MJ Mathew (2005), Insurance Principles & Practice, RBSA Publishers.
3. E. Rejda George, McNamara Michael (2017), Principles of Risk Management & Insurance, Pearson
Education.
4. Kishore Kumar Das (2016), Insurance Sector in India: Problems, Possibilities and Prospects, IBP,
New Delhi.
5. Meltem Tumay (2009), Asymmetric Information & Advers e Selection in Insurance Markets: The
problem of Moral Hazard at dergipark.org.tr/tr/download/article -file/146009.
6. PK Gupta (2017), Fundamentals of Insurance, Himalaya Publishing House.

Page 27

TYBA (ECONOMICS ) (SEMESTER -V)

COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XI CREDIT MARKS
ECOMEAC505 MATHEMATICS FOR ECONOMIC ANALYSIS 4 100

Course Objectives

This course aims to equip students with mathematical tools, formulae and expressions, which will
enhance their capacity to understand and interpret economic theory. The course introduces mathematical
techniques commonly used for planning and resource allocation.

Course Outcomes

 By the completion of the course, students can solve the economic problems by using mathematical
techniques. 
 The application of these mathematical techniques will helps them to analyse the real world problems
and to bring out impeccable interpretations in any discipline. 

Module 1: Set Theory, functions and Graphs (12 Lectures)

A set and its elements - basic set operations - Functions and Graphs - Algebraic and Non - Algebraic; Slope
and intercept of a straight line - Economic Applications: Demand and supply functions -Savings -
Investment - Consumption function etc.

Module 2: Derivatives and its Applications (12 Lectures)

Derivative of function – Rules of differentiation, Partial derivatives - First and Second orders -
Total differentiation - Maxima and minima of two or more than two variables .
Applications in Economics: Constrained and unconstrained optimization - Cost minimisation -
Profit maximisation - Optimization of utility and production functions using Lagrange Multiplier.

Module 3: Integration and its Applications (12 Lectures)

Basic rules of integration – Definite and Indefinite integrals - Area under the curve. Economic
applications - Capital formation - Consumer’s and Producer’s Surplus - Measures of Inequality -Lorenz
curve - Gini- coefficient and Pareto distribution.

Page 28

Module 4: Matrix Algebra (12 Le ctures)


Meaning and types of Matrices - Matrix Operations (upto 3 x 3 ) Matrix – Addition - Matrix
multiplication, Transpose of matrix - Inverse of a Square Matrix - Rank of a matrix - Adjoint of a matrix -
Characteristic Roots and Vectors - Simultaneous linear equations - Determinants - Minors and Cofactors -
Solution to equations by Cramer’s Rule - Applications in economics: Input -Output model.

References:


1. Chiang, Alpha (1994). Fundamental Methods of Mathematical Economics. McGraw Hill.
2. Dowling, Edward T (2004): Introduction to Mathematical Economics Schaum’s Outline Series in
Economics. Tata McGraw –Hill.
3. Lerner, Joel J and P. Zima (1986). Theory and Problems of Business Mathematics. McGraw Hill.
4. Rosser, Mike (2003). Basic Mathematics fo r Economists. Routledge, Taylor & Francis Group.
5. Soni, R. S. ( 2009). Essential Business Mathematics & Business Statistics, Ane Books Pvt. Ltd.
6. Sydsaeter, K and P. Hammond (2002). Mathematics for Economic Analysis. Pearson Educational
Asia.

TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XII
CREDIT
MARKS
ECOEMA506 ECONOMY OF MAHARASHTRA -I 3 80

Course Objectives

This paper provides a detailed account of various sectors of economy of Maharashtra i.e. natural
resources, population, agriculture, industry, infrastructure, fiscal policy and human development. These
units will introduce the various challenges faced by the economy of Maharashtra and efforts of the
Government to tackle them.

Course Outcomes

 Student s get acquainted with all varied sectors of the economy of Maharashtra 
 Awareness on challenges to be faced and measures to tackle the challenges 

Page 29

Module 1: Introduction to Economy of Maharashtra (12 Lectures)


Location and administrative divisions - Important features of the economy of Maharashtra - land, forest,
climate and rainfall, fisheries and mineral resources -Formation of Maharashtra state - Sanyukt
Maharashtra Movement – structural changes in state domestic product since 1991 -Maharashtra’s place in
India in various economic indicators.

Module 2 : Demography of Maharashtra (12 Lectures)


Size and growth rate –Density - Birth rate, Death rate and infant mortality rate - Urban and rural
population -Literacy ra te - Sex ratio - Migration - Labour force -SC and ST population - Employment
Guarantee Scheme (EGS) - Unemployment and poverty

Module 3 : Agriculture Development in Maharashtra (12 Lectures)


Significance of agriculture in the economy of Maharashtra - Land utilisation in Maharashtra - Cropping
pattern and per hectare yield -Trends in land productivity - Land reforms -Intensity of irrigation -
Inequalities in land distribution in Maharashtra - Cooperatives in Maharashtra - Agricultural finance -
Food security -Concept of PDS - Buffer stock of food grains - Allocation - Issue of farmers suicide -
Agricultural policy in Maharashtra.

Module 4 : Industrial Sector & Service Sector in Maharashtra (12 Lectures)


Major manufacturing industries - Important ratios of industrial groups in Maharashtra - Incentives and
promotions to various industries in Maharashtra -Industrial policy of Maharashtra 2019 and 2024 -The
role of MIDC, SICOM, MSFC, SEZ in industrial development - Foreign Direct Investment (FDI) in
Maharashtra since 1991 - Role of service sector in the economy of Maharashtra - sector in employment -
Banking and finance.

References:

1. JungaleMangala (2008): Maharashtrachi Arthvyavastha (Marathi), Prashant Publications, 17, Stadium
Shopping Centre, Opp. State Bank , Jalgaon –age No. 9 to 19.
2. Kurulkar R. P. (1997): Maharashtrachi Arthvyavastha (Marathi), Vidya Prakashan, Ruikar Marg,
Nagpur. Page No. 153 to 179.

Page 30

3. Munagekar Bhalchandra (2003) :The Economy of Maharashtra – Changing Structure and Emerging
Issue s, Dr. Ambedkar Institute of Social and Economic Change, Mumbai.
4. Patil J. F. (2010) :Suvarna Mahotsavi Maharashtrachi Badalati Arthvyavastha (Marathi), Abhijit
Pratap Pawar, Sakal Papers Ltd., 595, Budhwar Peth, Pune -411002Page No. 41 to 57.
5. Pansare Govind (2012) :Maharashtrachi Arthik Pahani – Paryayi Drushtikon (Marathi), Shramik
Pratishthan, Red Plug Bldg.,Bindu Chowk, Kolhapur, Page No. 159 to 195.
6. World Bank (2002) India: Maharashtra Reorienting Govt. to Facilitate Growth and Reduce Poverty.



TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XII CREDIT MARKS
ECOHETB506 HISTORY OF ECONOMIC THOUGHT - I 3 80


Course Objectives

The very purpose of this course is to provide information about the biography and contribution of the
most influential economists who influenced the economic fraternity and to whom we are obliged to for
shaping up the economic thought process.

Course Outcome:


 Students will get information about the genesis of Economics and its modern scenario.
 Establish the co -relation of Economics with other subjects.

Module 1: Classical Economics (12 Lectures)


Mercantilism and Physiocracy: Introduction -Adam Smith: Liberalism -Division of Labour -Theory of
Value - David Ricardo: Rent Theory - Wage Theory - Theory of Value - Karl Marx: Surplus Value
Materialistic Interpretation of History -Scientific Socialism.

Page 31

Module 2: Neo-Classical Economics (12 Lectures)


Alfred Marshall : Thought on Value - Representative Firm - Consumer’s Surplus - Internal and External
Economies -Quasi Rent - Schumpeter: Economic Development And Innovation - Pigou :Welfare
Economics.

Module 3: Keynesian Ideas (12 Lectures)


Employment Th eory- Money - Wage Rigidity Model - Multiplier and accelerator and their
interaction - Trade Cycle - Inflation -Role of Fiscal Policy - Keynesian Economics and Developing
Countries.

Module 4: Post-Keynesian Economics (12 Lectures)


Supply Side Eco nomics -Hayek’s Theory of Trade Cycle - Life Cycle theory Consumption - Friedman:
Theory of Demand for Money - Long -Run Philips Curve - Mankiw's New Keynesian Model -
Stagflation.

References:

1. Dasgupta A. K, Epochs of Economic Theory Oxford University Press. New Delhi, 1985.
2. Ernesto Screpanti and Stefano Zamagni, An Outline Of The History Of Economic Thought,
OxfordUniversity Press Inc., New York, 5005.
3. Ghosh and Ghosh: Concise History of Economic Thoug ht, Himalaya Publishers.
4. Gide, O. and G. Rist, A History of Economics Doctrine. George Harrop Co. London. 1956.
5. Harry Landreth and David C. Colander, History of Economic Thought, Houghton Mifflin Company
Boston Toronto, 2001.
6. Roll, E., A History of Economi cs Thought. Faber Landon, 1973.

Page 32

TYBA (ECONOMICS ) (SEMESTER -V)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO -XII CREDIT MARKS
ECOIBFC506 INTERNATIONAL BANKING AND FINANCE - I 3 80

Course Objectives

This syllabus serves as an introduction to the fundamentals of international finance. Various types of
exchange rate systems and related developments are incorporated to understand the emergence of
contemporary exchange rate systems. The students will make an in -depth study of foreign exchange
market and international capital markets.

Course Outcomes

 Upon completion of the course the students are clear about the fundamentals of International Finance.
 They come across various types of exchange rate systems and related developments and emergence of
contemporary exchange rate systems.
 It enable them in -depth study of foreign exchange market and international capital markets
 The course will result in the project work based on empirical case studies suggestive - examples:
foreign exchange arithmetic, di rect, indirect and cross rate and percentage spread.

Module 1: Fundamentals of International Finance (12 Lectures)


Meaning and scope of international l Finance - Balance of payments: structure and components -
Convertibility of currency - International Monetary system - Gold Standard - Bretton Woods System -
failure of Bretton Woods - Smithsonian agreement - Special Drawing Rights - European Monetary system.

Module 2: contemporary Exchange Rate Systems (12 Lectures)


Current exchange rate system - Fixed exchange rate - Flexible exchange rate - Merits and Demerits of
fixed and flexible exchange rate - Types of fixed exchange rates hard pegs and soft pegs -Types of
flexible exchange rate managed float and free float - Exchange rate determination under fixed and flexible
exchange rate system.

Page 33

Module 3: Foreign Exchange Market (12 Lectures)


Meaning and nature of foreign exchange market -Participants in foreign exchange market - Retail and
wholesale components of forex market - Role of FEDAI, FEMA and regulatory framework - Foreign
exchange arithmetic - Exchange rate quotation -direct, indirect and cross rate - Percentage spr ead.

Module 4: International Capital Markets (12 Lectures)


Euro currency market -origin and reasons of growth - Euro currency deposits -loan bonds and notes
markets - International equity market - depositary receipt -ADR, GDR and IDR - characteristics and
mech anism of depositary receipts -International bond market - domestic bonds and foreign currency bonds
FCCB & FCEB.

References:


1. Cheol S. Eun ET. AL. International Finance (2012), McGraw Hill India.
2. Rajiv Srivastava, International Finance (2014) Oxford University Press, India.
3. S. AshokKumar, Global financial and Indian economy, New Century Publications, New Delhi.
4. Salvatore, Dominick, International Economics, 2008, 3rd edition, Wiley India.
5. Sodersten, Bo and Geoffery Reed, International Economics, 2006, 3rd edition.
6. V.A. Avadhani, International Finance, (2009), Himalaya Publishing House.

Page 34

COURSE STRUCTURE
(APPLICABLE FROM ACADEMIC YEAR: 2021 -22)
TYBA (SEMESTER –VI)



COURSE
CODE REVISED PAPER CREDIT MARKS
GROUP - I : CORE PAPERS
ECOAME601 XIII ADVANCED MACROECONOMICS – III 4 100
ECOIE602 VIV INTERNATIONAL ECONOMICS 4 100
GROUP -II :ELECTIVE PAPERS
ECOIFSA603 XV INDIAN FINANIAL SYSTEM -II 3 80
OR
ECOACB603 XV ECONOMICS OF AGRICULTURE AND CO -
OPERATION – II 3 80
OR
ECOILC603 XV INDUSTRIAL AND LABOUR ECONOMICS – II 3 80
ECORMA604 XVI RESEARCH METHODOLOGY - II 4 100
OR
ECOQEB604 XVI QUANTITATIVE ECONOMICS - II 4 100
OR
ECORDC604 XVI RURAL DEVLOPMENT 4 100
ECOEEA605 XVII ENVIRONMENTAL ECONOMICS - II 4 100
OR
ECOEIB605 XVII ECONOMICS OF INSURANCE - II 4 100
OR
ECOBEC505 XVII BASIC ECONOMETRICS 4 100
ECOEMA606 XVIII ECONOMY OF MAHARASHTRA –II 3 80
OR
ECOHETB606 XVIII HISTORY OF ECONOMIC
THOUGHTS – II 3 80
OR
ECOIBFC606 XVIII INTERNATIONAL BANKING AND FINANCE – II 3 80

Page 35

TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE
CODE GROUP -I : CORE PAPER
PAPER NO –XIII CREDIT MARKS
ECOAME601 ADVANCED MACROECONOMICS - III 4 100

Course Objectives


This course introduces the students to formal modeling of a macro economic theory with analytical tools.
Since students have been taught Keynesian Synthesis, this course focuses on four aspects which are the
study of Post Keynesian Synthesis, Trade Cycles, Exchange Rate Regimes and International Monetary
System.

Course Outcomes


 To make st udents aware about Post Keynesian Synthesis and understand various aspects of Trade
Cycles.
 Students will be able to describe the contemporary Exchange Rate Regimes and International
Monetary System.

Module 1: Post Keynesian Synthesis (14 Lectures)


Derivation of Aggregate Demand Curve with IS -LM - Aggregate Supply Curve - Determination of
Equilibrium National Income and Price Level under Aggregate Demand and Aggregate Supply Model -
Extension of IS -LM Model with Labour Market and Flexible Prices - Natural Rate of Unemployment -
Long run Philips Curve - Friedman’s Expectation Model - Tobin’s Modified Philips Curve - Adaptive
Expectations and Rational Expectations.

Module 2: Trade Cycles (12 Lectures)


Meaning - Nature - Features and Types of Trade Cycles - Phases of Trade Cycles - Theories of Trade
Cycles - Hawtrey’s, Kaldor, Paul Samuelson and Hicks - Measures to Control Trade Cycles.

Page 36

Module 3: Exchange Rate Regimes and Currency Crises (12 Lectu res )


Managed Exchange Rate - Advantage and Disadvantage - Policy of Managed Flexibility -Adjustable Peg
System, Crawling Peg System, Managed Floating System, Clean and Dirty Float System - Balance of
Payment and Exchange Rate - Is Balance of Payments Alwa ys in Balance? – Convertibility of Currency -
Currency Crisis -Causes, Impact and Measures.

Module 4: International Monetary System (12 Lectures)


Rise and Fall of International Gold Standard - Bretton Woods System - Breakdown of the Bretton Woods
System - Monetary System after the Collapse of Bretton Woods System - Maastricht Treaty, Features,
Effects and Importance of Euro - Currency Market - Causes and Consequences of Global Economic Crisis
- Impact of Global Recession on the Indian Economy - Asia Infrastructure Investment Bank (AIIB) -
New Development Bank (NDB): Asian Development Bank (ADB).

References:


1. Blanchard, Oliver (2008), Macroeconomics, Pearson education, New Delhi, India.
2. Dornbusch, Fisher and Startz (2018): Macroeconomics, McGraw Hill Education (India) Pvt. Ltd.
3. Mankiw N Gregory (2003), Macroeconomics, 6" edition, Worth Publishers, New York.
4. Patil J. F (2005, Marathi Edition), Macroeconomic Analysis, Phadke Prakashan, Kolhapur.
5. Rana K. C. & Verma K.N (2017), International Economics, Vi shal Publishing CO. Jalandhar.
6. Salvatore D. (1997), International Economics, Printice Hall, New York.

Page 37

TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE CODE GROUP -I : CORE PAPER
PAPER NO – XIV CREDIT MARKS
ECOIE602 INTERNATIONAL ECONOMICS 4 100

Course Objectives


The course is designed to provide a general understanding of the fundamentals of International Trade
Theories along with the balance of payment concepts, crisis and various policy measures to correct the
same. It also provides overview of the working of foreign exchange market, determination of exchange
rate and different terms related with the foreign exchange market. The course introduces the main
features of the international economic institutions and enables them to critically understand ro le and
functions of those institutions.

Course Outcomes


 Students will be able to understand the trade theories and determinants of trade which helps them to
analyze the international trade policies.
 Students will be able to understand the role of various international institutions and trade blocks and
their approaches in framing the policies for trade.

Module 1: Introduction to Trade Theories (12 Lectures)


Meaning, scope and importance of International Trade - Difference between Internal and Inte rnational
Trade - Adam Smith’s Theory of International Trade - Ricardian theory of comparative cost difference
Heckscher - Ohlin Theory -Leontief’s Paradox - Krugman’s Model

Module 2: Balance of Trade and Balance of Payment (12 Lectures)


Concepts of Terms of Trade(Net barter, Gross barter and Income terms of trade) -Meaning and difference
between Balance of Trade (BOT) and Balance of Payment (BOP) -Purchasing Power Parity theory, Law
of Reciprocal Demand -Marshall -Edgeworth Offer curves, Gains from trade -Case for and against Free
Trade and Protection policy

Page 38

Module 3: Foreign Exchange Market (12 Lectures)


Meaning and Functions of Foreign Exchange Market -Exchange rate determination, Factors influencing
foreign exchange rate -Managed Flexibility -SWAP Market, Components of foreign exchange reserves
Foreign Aid Vs Foreign Trade, FDI and MNCs

Module 4: International Economic Institutions and Economic Integration (12 Lectures)


IMF, World Bank - Role and functions -WTO -Objectives, Functions and Agreements with respect to
TRIPS,TRIMS, GATS, AoA - Forms and objectives of Economic Integration -Cartels -Trade Blocs,
ASEAN - European Union (EU) - NAFTA and SAARC.

References:


1. Appleyard Dennis and Alfred j Field, Jr, International Economics, 2001, 4th Edition, Tat a
McGraw -Hill Education Private Limited.
2. Cherunilam Francis , International Economics, 2009, 5th Edition, Tata McGraw -Hill Education
Private Limited, New Delhi.
3. Krugman R Paul, Maurice Obstefeld, International Economics Theory and Policy, 2009, 8th
Edition, Pearson.
4. Melitz M. and Trefler D., Gains from Trade When Firms Matter, Journal of Economic
Perspectives, Spring 2012.
5. Salvatore, Dominick, International Economics, 2008, 8th Edition, Wiley India.
6. Sodersten, Bo and Geoffery Reed, International Economics, 2006, 3rd Edition.

Page 39

TYBA (ECONOMICS ) (SEMESTER -VI)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XV CREDIT MARKS
ECOIFSA603 INDIAN FINANCIAL SYSTEM -II 3 80


Course Objectives


The paper is framed to provide information on various financial markets including the participants,
regulators of the respective markets and role of intermediaries. The syllabus also provides students with
an overview of the features of the markets in India and the reforms that have been carried out in them
over a period of time. Certain topics have been also incorporated to facilitate the students with practical
exposure to the functioning of these markets and they indicate potential topics for case studies and taking
up small r esearch projects.


Course outcomes

 Focuses on features and functioning of financial markets as well as reforms therein.
 Empowers students about the evolution and significance of financial services, overview of new
products and practices in the provision of financial services. 
 Project work based on empirical case studies involving data analysis; suggestive examples: equity
research, derivative pricing, analysis of financial performance of corporates, study of capital structure
of corporates, mapping the tr ends in stock market indices, CIBIL score & lending practices of banks.

Module 1: Money Market and Debt Market (12 Lectures)


Money market: meaning and functions - Structure of money market in India (dichotomous &
heterogeneous) - Participants and instrum ents in Indian money market - Features of Indian money market -
Reforms in Indian money market - Role of the RBI.

Debt market: meaning & functions - Segments in debt market - Participants & instruments in debt market -
Role of intermediaries and the government in debt market - Recent trends in India’s debt market.

Page 40

Module 2: Capital market (12 Lectures)

Capital market: meaning, role and factors affecting growth of capital market - Structure of capital market -
New issues or primary market: features, participants & intermediaries - Overview of issue mechanisms or
methods of raising primary issues - Reforms in primary segment of Indian capital market & role of the
SEBI.
Secondary market: features, participants & intermediaries - Listing of secu rities: types, advantages,
requisites of listing - Basic mechanism of trading in securities - DEMAT - introduction to major stock
exchanges in India: BSE, NSE and OTCEI - Reforms in secondary segment of Indian capital market.

Module 3: Derivatives Market (12 Lectures)

Derivatives: Need and significance - Participants in derivative markets - Types of derivatives (a. based on
the underlying entity - financial, commodity, foreign currency, credit & interest rates and b. based on
instruments - forwards, futures, o ptions, swaps) - Pricing of derivatives: futures pricing, cost -of-carry
model, options pricing -Derivative markets in India: evolution & growth, NCDEX, MCX, regulation of
derivatives trading in India.

Module 4: Financial Services in India (12 Lectures)

Insurance: meaning, types, evolution and growth, E -portal for insurance policies, IRDA and PFRDA -
Mutual Funds: meaning, composition, advantages, types of schemes -Evolution & growth, AMFI -
Merchant banking: Evolution & growth, scope and recent developments in India - Credit rating: meaning,
role and significance, agencies - depository services.

References:

1. Bhole, L. M. (2008): Financial Institutions and Markets, Growth and Innovation, Tata McGraw -
Hill, New Delhi.
2. Khan, M.Y. (2007): Financial Services, Tat a McGraw Hill, New Delhi.
3. M.Y. Khan, Indian Financial System
4. Pathak, Bharati (2008): The Indian Financial System –Markets, Institutions, and Services, (2nd
Edition), Pearson Education, New Delhi.
5. Rajesh Kothari, Financial Services in India: Concept and App lication
6. Vasant Desai, Indian Financial system.

Page 41

TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XV CREDIT MARKS

ECOACB603 ECONOMICS OF AGRICULTURE AND
CO-OPERATION -II
3
80

Course Objectives

The paper is designed to provide various aspects related to the Principles of cooperation and cooperative
organizations in the globalized economy. The essentials of cooperative finance are dealt in with reference
to the latest trends. The cooperative movement has a lon g history of more than hundred years. Indian
Cooperatives Structure is one of the largest networks in the world. Under this backdrop the student
should study the principles and role of cooperation in the modern era.

Course Outcomes
 Students can understand the basic Principles of Cooperation, Globalization and Cooperation. 
 Provides information about co -operative Movement in India and its performance and role in rural
development. 
 Students get introduced to the problems and measures of agro industries and Cooperative farming and
Leadership in cooperative development. 

Module 1: Co-operation (12 Lectures)

Meaning and features of Co -operation - Principles of Co -operation (Manchester -1995) - Role of Co -
operation in Economic development - Globalization and Co -operation -Importance and Benefits of Co -
operation - Co-operative Movement in foreign Countries - Consumer Cooperative Movement in U.K -
Agricultural Cooperative Movement in Israel.

Module 2: Co -operative Finance in India (12 Lectures)

Co-Operative Finance: Need, Structure. Progress and Problems - National Co -operative Development
Corporation (NCDC) - Farmers service societies - Urban Co -operative banks,

Page 42

Module 3: Agricultural Co-operatives (12 Lectures)


Role and Types of Agro -Industries - Problems and Measures of Agro -Industries - Sugar and Dairy Co -
operatives - Food and Fruits Processing Industry - Co-Operative Farming.

Module 4: Co -operative Organizations in India (12 Lectures)


Consumer Co -operatives - Co-operative Marketing - NAFED - Housing Co -operative societies Labour
Co-operative societies - Leadership in Cooperative development - Concept of Co -Operatives Audit.

References:

1. Bedi R. D. (2001), Theory, History and Practice o f Co-Operation, International Publishing House,
Meerut (U.P.).
2. Government of Maharashtra - Co-operative movement at a Glance (latest annual report).
3. Hajela T.N, (2000), principles, problem and practice of Co -operation, Agarwal Publication, New
Delhi.
4. Mathu r B. S, (2000), Co -Operation in India, Sahitya Bhavan, Agra.
5. Matthai John, (1996), Agricultural Co -Operation in India, Reliance Publishing House, New Delhi.
6. Swami Krishna, (1985), Fundamentals of Co -Operation, S. Chand and Company Ltd, New Delhi.



TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XV CREDIT MARKS
ECOILC603 INDUSTRIAL AND LABOUR ECONOMICS -I 3 80

Course Objectives


Issues pertaining to the labour market, wage policy, trade unions and amicable solutions to industrial
disputes have become vital for developing countries, especially for India, where the bulk of the labour
force is employed in the unorganised sector, and the organized sector is witness ing a phenomenon of‘

Page 43

jobless’ growth. This paper intends to provide knowledge of the same and also discusses the importance
of labour welfare and social security measures for the growing labour force in India.

Course outcomes


 Learners become aware about different problems and policies of labour.
 Learners will get intoned about trade unions and industrial relation in contemporary world.
 Learned will know the different policies of labour welfare.

Module 1: Introduction - Indian Labour Market (12 Lectures)

Characteristics of the Indian Labour Market, Child Labour and Women Labour -Problems and Measures,
Labour Market Reforms - Exit Policy and Need for Safety Nets, Second National Commission on
Labour, Globalization and its impact on Indian Labours.

Module 2: Trade Unionism (12 Lectures)


Definition and Functions of Trade Unions, Historical Evolution of Trade Unions in India and their
Present Status - Problems of Trade Unions in India - Role of Outside Leadership - International Labour
Organization.

Module 3: Industrial Relations (12 Lectures)


Causes of Industrial Disputes and Their Settlement Mechanism - Collective Bargaining - Concept,
Features - Importance and Pre -requisites for Successful Collective Bargaining - Collective Bargain ing in
India -Workers’ Participation in Management - Concept, Objectives and Forms of Workers’Participation
in India -Working Conditions and life style of Indian workers.

Module 4: Labour Welfare and Social Security (12 Lectures)


Concept -Theories and Pr inciples of Labour Welfare - Agencies for Labour Welfare, Role of the Labour
Welfare Officer - Social Security -Concept; Social Assistance and Social Insurance – Social Security
Measures in India - Indian Labour Legislations.

Page 44

References:


1. Agrawal A.N. (2011), Indian Economy, New Age International Publishers, New Delhi.
2. CO Monappa A, (2006), Industrial Relations, Tata McGraw Hill Publishing Company Ltd, New
Delhi.
3. Datt R. and Sundaram K.P.M. (2009), Indian Economy, S.Chand & Co., New Delhi.
4. Mamoria C.B. and Mamoria S. (2002), Dynamics of Industrial Relations, Himalaya Publishing
House, Mumbai.
5. U. Mishra S.K. and Puri V.K.(2008), Indian Economy, Himalaya Publishing House, Mumbai.
6. U. Ratna Sen, Industrial Relations in India - Shifting Paradigms (2005), Macmillan, New Delhi.



TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVI CREDIT MARKS
ECORMA604 RESEARCH METHODOLOGY - II 4 100

Course Objectives


This paper has various objectives, like to enable students in understanding application of statistics in
research, to prepare learners to realize about various analytical tools and methods in research, to orient
the students to know index numbers, hypothesis formulations and testing and to make student understand
about the research report writing.

Course Outcomes


 The learners get assimilated to the research culture in Economics through application of
Statistics.
 The learners will understand the concept of index number with its use and applications.
 The course wi ll help in formulation of hypotheses and its testing in social science research.
 The students will understand the writing of social science research reports with its various types,
organization and styles.

Page 45

Module 1: Application of Statistics in Research (10 Lectures)


Methods of studying correlation - measurement of simple correlation: graphic method - Scatter diagram -
Coefficient of correlation - Karl Pearson and rank correlation - Interpretation of r = +1. Linear regression
analysis: Meaning, regr ession lines, regression equation, regression equation relationship between
correlation and regression - Analysis of time series - Components - Trend analysis - Moving averages
(3, 4 and 5 Yearly) - Method of least square.

Module 2: Index Number: (14 Le ctures )


Meaning and classification of index number - Problems encountered while constructing index numbers -
Uses and limitation of index numbers - Methods of constructing index numbers: Simple index:
i) Aggregate method ii) Simple average of Relative met hod - Weighted index: Laspeyer’s, Paache’s,
Fisher’s and Marshall - Edgeworth - Base shifting - Deflating and Cost of living index number: Weighted
average of Relative method - Aggregate Expenditure method - Chain based index - Concepts of base
shifting, spl icing, and deflating - Consumer price index - Meaning, need and construction.

Module 3: Hypothesis Formulation and Testing (10 Lectures)


Definition and functions of Hypothesis - Criteria of workable Hypothesis - Forms and sources of
hypothesis - Concepts in testing of hypothesis: Universe / Population parameter and sample statistics -
Types of hypotheses: Null and Alternative Hypotheses -Levels of significance -Critical region -Type I and
Type II Errors -Student t - test.

Module 4: Research Report Writing (14 Lectures)


Types of research reports: Technical, Popular, Interim, Summary, Article - Format of a research report -
Principles of writing the research report: Organization and style - Contents - Styles of reporting - Steps in
drafting reports - Editing the fi nal draft -Evaluating the final draft -Organization of the research report:
Preliminaries, Contents of report, Structuring the report: Chapter format - Pagination - Identification -
Using quotations, Presenting footnotes - Abbreviations - Presentation of tables and figures - Referencing
documentation -Use and format of appendices - Indexing - Bibliography, Appendices.

Page 46

References:


1. Allen, T. Harrell (1978), New methods in social science research, Praeges Publishes, New York
2. Bhandarkar P.L.,(1994), Samajik Sanshodhan Padhati, Himalaya Publication, New Delhi, (Marathi)
3. Ghosh, B.N, (1992). Scientific methods and social research, Sterling publishers Pvt. Ltd, New
Delhi.
4. Gupta S. P, (1987), Statistical methods, Sultan Chand and Sons, New Delhi
5. Kothari R.C. (2008), Research methodology, methods and techniques, New Age International
Publishers, 2nd revised edition, New Delhi.
6. Krishnaswamy O.R. (1993), Methodology of research in social sciences, Himalaya Publishing
House, Mumbai

TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVI CREDIT MARKS
ECOQEB604 QUANTITATIVE ECONOMICS – II 4 100

Course Objectives


This paper proposes to equip the students with the idea of derivatives and integration along with its
application in economic theory. The aim is to empower students with quantitative techniques such as
correlation, regression and time -series, which will aid in for data analysis.

Course Outcomes
 Upon the completion of course students will be able to apply the techniques of derivatives and
integration to economic theory
 Students can handle time series data and interpret the results.

Module 1: Techniques and applications of partial derivatives (12 Lectures)


Functions of several variables and partial derivatives - Second order partial derivatives - Optimization of
multivariable functions -Constrained optimization with Lagrange multiplier and its economic

Page 47

interpretation -Marginal productivity, Income and cross price elasticity of demand - Homogeneous
production functions and returns to scale - Cobb - Douglas production function

Module 2: Integral Calculus (12 Lectures)


Integration and Definite integral; area under the curve - Economic applications - Present value of cash
flows (present value of a sum to be received in future and present value of a stream of future income) -
Consumer’s and Producer’s Surplus.

Module 3: Correlation and Regression Analysis (12 Lectures)


The meaning and significance of Correlation; Scatter plot of Bivariate Distributions; Correlation and
Causation - Karl Pearson’s coefficient of correlation: Spearman’s rank correlation coefficient - Simple
regression analysis - Method of Least Squares and Regression Lines, Regression Coefficients,
Relationship between correlation coefficients and regression coefficients, Estimation and forecasting of
trend by the Least Squares Method.

Module 4: Index Numbers and Sampling Methods (12 Lectures)


Simple and composite index numbers - Construction, uses and problems of index numbers - Laspeyre’s,
Paasche’s and Fisher’s Index numbers - Cost of living index numbers -real income - wholesale price index
number - Splicing of index numbers, Sampling -Principal steps in a sample survey, methods of sampling,
the role of sampling theory.

References:


1. Chiang A.C (1984). Fundamental Methods of Mathematical Economics, 3rd ed., MeGraw -Hill.
2. Dowling Edward T. (1993). Theory and Problems of Mathematical methods for Business and
Economics. McGraw - Hill.
3. Dowling Edward T. (2004). Introduction to Mathematical Economics Schaum‘s Outline Series in
Economics, Tata McGraw Hill.
4. Gupta S.P. (2014). Statistical Methods, S. Chand publishing.
5. Lerner Joel J and P. Zima (1986). Theory and Pro blems of Business Mathematics. McGraw Hill.
6. Sancheti D.C. and V.K. Kapoor (2014). Statistics -Theory Methods and Applications, S. Chand.

Page 48

TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE
CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVI CREDIT MARKS
ECORDC604 RURAL DEVELOPMENT 4 100

Course Objectives


This course would helpful to understand the various types of relationships in rural area. The learners will
understand the basic issues in rural development. The course sheds light on a range of new developments
and a host of issues studied by generations of rural area experts. The course is constructed from the point
of rural development arrangement.

Course Outcomes


 On the completion of the course, the students will be able to understand the basic Concept of rural
development.
 Learners will also be understanding objectives and importance of rural development.
 Learners will have good understanding of problems in relation of rural development.
 Learners will come to know what rural development program mes have initiated by the government to
overcome the problems of rural development

Module 1: Rural Development: Introductory Aspects (12 Lectures)


Concept, Nature and Scope of Rural Development, Charactersties of the Rural Economy, Objectives and
Import ance of Rural Development, The problems of Rural Development in India

Module 2: Approaches to Rural Development (12 Lectures)


Gandhian Approach, Rural Reconstruction Approach, Community Development Approach, Sectoral
Approach, Participatory Approach, Area - Specific and Target Group Oriented Approach, Integrated
Rural Development and Economic Development with Social Justice Approach

Page 49

Module 3: Diversification of Rural Economy (12 Lectures)


Livestock economic s, Dairy Development, Social Forestry, Agro -Based Industries: Problems &
Remedial Measures, Role of KVIC in Rural Development, Recent Development of Science &
Technology in Rural Development.

Module 4: Rural Empowerment Programmes (12 Lectures)


An Overv iew of Rural Development Programmes, Provisions of Urban Amenities in Rural Area (PURA),
Rural Employment: Mahatma Gandhi National Rural Employment Guarantee Act -2005 (MGNREGA),
Rural Livelihoods: Deendayal Antyodaya Yojana - National Rural Livelihoods Mis sion (DAY -NRLM),
National Social Assistance Programme (NSAP), Microfinance and Self -help Groups

References:


1. Thomas William and A.J. Christopher (2011), Rural Development: Concept and Recent Approaches,
Rawat Publication, Jaipur.
2. Annual Report 2019 -20, 2018 -19 & State performance report -2018 -19 and Action plan 2019 -20,
Volume -I, Ministry of Rural Development, Department of Animal Husbandary & Dairying,
Government of India, New Delhi.
3. Datt & Sundharam (2012), Indian Economy, S. Chan d & Company LTD. Mumbai.
4. Desai Vasant (2012), Rural Development in India, Himalaya Publishing House, Mumbai.
5. Dr. I. Satya Sundaram (2002), Rural Development, Himalaya Publishing House, Mumbai. Page No. 3
to 24
6. Eleventh Five Year Plan 2007 -12, Planning Comm ission, Government of India, New Delhi.

Page 50

TYBA (ECONOMICS ) (SEMESTER -VI)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVII
CREDIT
MARKS
ECOEEA605 ENVIRONMENTAL ECONOMICS - II 4 100

Course Objectives

This paper introduces vital aspects related to environmental degradation and advocates the need for
environmental accounting. The paper also focuses on the attainment of SDGs

Course Outcomes

 Students are empowered about the environmental challenges and the need for environmental
accounting
 Develop understanding on the policy measures to attain SDGs.

Module1: Environmental Degradation (12 Lectures)

Concept and types of Environmental Degradation; Renewable and Non -renewable natural resources:
Land, Air, Water and Noise Pollution: Causes, effects and measures.

Module 2: Environmental Accounting (12 Lectures)

Accounting for environmental and natural resources: Meaning and importance; System of
Environmental -Economic Accounting (SEEA) and Environmental and Natural Resources Accounting
(ENRA ); Integration of Environmental Accounts with System of National Accounts: Green GDP;
Concept of Green Growth and its Indicators; Concepts of Green Consumer and Green Business.

Module 3: Sustainable Development and India (12 Lectures)

Concept of Sustainable Development; Characteristics and dimensions of Sustainable Development;
Sustainable Development Goals and Measures with special reference to India; Smart Cities Mission in
India; National Mission For Sustainable Agriculture (NMSA): Objectives, strategy and components.

Page 51

Module 4: Environmental Policy in India (12 Lectures)

Overview of laws to improve the environment in India; Central pollution Control Board; Industrial
Pollution Control Measures in India; Pradhan Mantri Ujjwala Yojana (PMUY); National Green
Tribunal.; Environmental Education in India.

References:

1. Barry Field and Martha k Field: Environmental Economics, McGraw Hill International Edition, 2017.
2. Bhattacharya R.N. (Ed) (2001), Environmental Economics: An Indian Perspecti ve, Oxford University
Press, New Delhi.
3. Charles Kolstad : Environmental Economics, Oxford University Press, New York, 2000.
4. Hanley Nick, Shogren Jason and White Ben: Introduction to Environmental Economics, Oxford
University Press, 2001.
5. Kaltschmitt, Marti n, Streicher, Wolfgang, Wiese, Andreas, Renewable Energy: Technology,
Economics and Environment, Springer, Germany, 2007.
6. V.S. Ganesamurthy: Environmental Economics in India, New Century Publications, New Delhi,
2009.

TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE
CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVII CREDIT MARKS
ECOEIB605 ECONOMICS OF INSURANCE - II 4 100

Course Objectives


The course is designed to provide an understanding of the fundamentals of insurance. Insurance has a
profound impact on the society as it manages, diversifies and absorbs the risk of individuals and
organizations. Insurance companies as risk management service providers serve as bulwarks for the
development of productive activities fuelling demand, facilitating supply and t rade. The important role
played by the insurance institutions in mobilizing savings and diverting them for capital formation is well
known. In recent years, uncertainties experienced in life have been increasing and this in turn has created
demand for insu rance. With the opening of the insurance sector to private players, the interest in the

Page 52

subject has increased. The paper on Economics of Insurance attempts to provide a fairly comprehensive
view of the subject to the undergraduate students in Eco nomics.

Course Outcomes:

At the end of this course students will be able to:
 Identify and define basic terms and concepts of life, health & general insurance
 Assess the role of Insurance Sector regulator
 Understand risk classification, underwriting & premium calculation associated with insurance sector

Module 1: Introduction to Life Insurance (12 lectures)


Meaning and Definition, Features of Life Insurance, Benefits of Life Insurance - Method of risk
classification in Life Insurance - Treatment of S ub-standard risk in Life Insurance - Types of life
insurance policies -Term insurance plan, Endowment policy - ULIP plan - Retirement plan - Calculation
of net Premium - Calculation of single premium for one year term insurance policy - Calculation of
single premium for five year term policy - Calculation of single premium for pure endowment insurance
policy and calculation of single premium for ordinary endowment policy.

Module 2: Fundamentals of Life, General and Health Insurance (12 lectures)


Function s of Health & General Insurance - Underwriting process and methods: Definition - Objectives
and Principles of Underwriting - Life insurance; Group Insurance: Meaning - Importance -Types of Group
Insurance schemes.

Module 3: IRDAI & Rural Insurance (12 lectures)


The Insurance Act, 1938 (as amended) -The Insurance Regulatory and Development Authority Act, 1999
(as amended) -The Regulatory Body - IRDAL duties - functions -powers and role - Rural Insurance: Need
and potential of rural insurance - IRDAI provisi ons on obligations of insurers to rural and social sector -
Need and significance of Micro Insurance.

Page 53

Module 4: Information Technology & Marketing in Insurance (12 lectures)


Need for Information technology -Technologies for Insurance (Artificial Intelligence and Machine
Learning) - IT application in functional areas - Marketing of Insurance products - Critical success factors
for insurance players - Distribution channels - Marketing strategies of insurance players in India.

References:


1. Dr. MJ Ma thew (2005), Insurance Principles & Practice, RBSA Publishers.
2. Dr. PK Gupta (2011), Insurance & Risk Management, Himalaya Publishing House.
3. Mahipal Naresh (2017), Insurance Laws, Central Law Publications.
4. Patukale Kshitij (2016), Mediclaim & Health Insurance, Prabhat Prakashan.
5. PK Gupta (2017), Fundamentals of Insurance, Himalaya Publishing House.
6. Zweifel Peter and Roland Eisen (2012), Insurance Economics, Springer Publication.



TYBA (ECONOMICS ) (SEMESTER -VI)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVII CREDIT MARKS
ECOBEC505 BASIC ECONOMETRICS 4 100

Course Objectives


The objective of this course is to impart a basic understanding of econometrics. At the same time, it will
enhance the student’s ability to apply the theoretical techniques to solve the problems of the real world.

Course Outcomes


By the completion of this course student will be able to do
 Testing of hypothesis and interpret the results in research.
 Regression analysis and interpret the results of the same in any discipline.
 Applications of relevant techniques for empirical problems in any discipline.

Page 54

Module 1 : Idea of a random variable & Probability Distribution (12 lectures)


Concept of a random variable: Expected values of a random variable - Variance of a random variable –
Types of distributions: Bernoulli, Binomial and Poisson, normal distribution. Conditional probability -
Conditional mean and variance – Covariance and Corre lation -Central limit theorem (without proof).

Module 2: Elements of Hypothesis Testing (12 lectures)

Point and interval estimation - The Z distribution - The Null and Alternate hypotheses and significance
testing for mean using Z distribution when popul ation variance is known -The chi -square distribution and
testing for sample variance with known population variance - The F distribution and comparing sample
variances - The t distribution and hypothesis tests when population variance in unknown.

Module 3: Classical Linear Regression Model: Two Variable Case (12 lectures)


Two variable regression model -The concept of the PRF -Classical assumptions of regression - Derivation
of the OLS estimators and their variance - Properties of OLS estimators under classi cal assumptions,
Gauss -Markov Theorem (without proof) – Tests of Hypothesis, confidence intervals for OLS estimators -
Measures of goodness of fit: R square and its limitations, adjusted R square and its Limitations.

Module 4: Violation of Classical Assum ptions and Specification Analysis (12 lectures)

Multi -collinearity and its implications - Auto -correlation: Consequences and Durbin - Watson test -
Heteroskedasticity: Consequences and the Goldfeld -Quandt test - Omission of a relevant variable -
Inclusion of irrelevant variable.

References:

1. Damodar Gujarati (2011). Econometrics by Example. Palgrave Macmillan.
2. Damodar N., Gujarati (2003). Basic Econometrics. McGraw -Hill.
3. Hatekar N. (2010). Principles of Econometrics: An Introduction. Sage publications.
4. Jeffrey M. Wooldridge (2009). Econometrics, Cengage Learning.
5. Murray R. Spigel (1998). Schaum’s Outline of Theory and Problems of Statistics. McGraw - Hill.
6. Stock J. Watson (2003) Introduction to Econometrics. Prentice Hall.

Page 55

TYBA (ECONOMICS ) (SEME STER -VI)


COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVIII CREDIT MARKS
ECOEMA606 ECONOMY OF MAHARASHTRA -II 3 80



Course Objectives


This paper enables the students to get awareness on the infrastructural aspects and policy related issues.
The paper also throws light on the regional imbalances within the state.

Course Outcomes


 Provides deep understanding on the infrastructural and imbalances confronting the state.
 Throws light on the skills needed to tackle such issues

Module 1: Infrastructu re in the Economy of Maharashtra (12 Lectures)


Importance of infrastructure in economic development -Types of infrastructure: 1. Economic
infrastructure; Energy, Transport & Communication - Sources of energy -Power generation - Existing
Capacity - Power crises -Development of roads - Rail transport - Water transport - Civil aviation -
Irrigation projects - Communication Network 2. Social Infrastructure: Health and education facilities in
Maharashtra.

Module 2: Fiscal Policy of Maharashtra (12 Lectures)


State Finance Commission, budget of state Government - Revenue Expenditure - Development and non
development expenditure - Capital Expenditure - Development and non development expenditure - Trends
in state Government expenditure Share in Central Government tax revenue -Taxes collected by state
Government - Sources of non -tax revenue - Capital revenue sources - Trends in state Government revenue

Page 56

Module 3: Regional Imbalance in Maharashtra State (12 Lectures)


Meaning of regional imbalance -Nature of regional imbalances in Maharashtra - Causes of Regional
Imbalance in Maharashtra - Problems Creates by Regional Imbalance in Maharashtra -Policy measures
by State Government of Maharashtra for Regional Development.

Module 4: Human Development in Maharasht ra (12 Lectures)


Concept and importance - Comparison of HDI with other states in India - Region -wise HDI - Indicators
of HDI - District -wise HDI in Maharashtra - Present situation and problems of weaker section in
Maharashtra - Schemes of empowerment of weaker section in Maharashtra - Women empowerment in
Maharashtra.

References:


1. Government of Maharashtra: Economic Survey of Maharashtra, Various Issues.
2. Jungale Mangala (2008): Maharashtrachi Arthvyavastha (Marathi), Prashant Publications, 17,
Stadium Shopping Centre,Opp. State Bank, Jalgaon -age No. 9 to 19.
3. Munagekar Bhalchandra (2003): The Economy of Maharashtra - Changing Structure and Emerging
Issues, Dr. Ambedkar Institute of Social and Economic Change, Mumbai.
4. Pansare G ovind (2012) :Maharashtrachi Arthik Pahani — Paryayi Drushtikon (Marathi), Shramik
Pratishthan, Red Plug Bldg.,Bindu Chowk,Kolhapur, Page No.159 to 195.
5. Patil J. F. (2010): Suvarna Mahotsavi Maharashtrachi Badalati Arthvyavastha yio)) (Marathi),
Abhijit Pr atap Pawar, Sakal Papers Ltd., 595, Budhwar Peth, Pune - 411002.
6. World Bank (2002) India: Maharashtra Reorienting Govt. to Facilitate Growth and Reduce Poverty.

Page 57

TYBA (ECONOMIC ) (SEMESTER -VI)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO – XVIII
CREDIT
MARKS
ECOHETB606 HISTORY OF ECONOMIC THOUGHT -II 3 80

Course Objectives


This paper aims to provide the information about the biography and contribution of various economic
thinkers. This paper is framed with the objective of making students aware of the varying phases of
economic thoughts and development of that into economic science.

Course Outcome


 Students will get information about the genesis of Economics and its modern scenario.
 Students get familiarized with the leading Indian economists who significantly contributed to the
stream of Indian economic thought.

Module 1: Indian Economic Thought (12 Lectures)


Kautilya on welfare state -Dadabhai Naoroji's Thoughts on Drain Theory - Ranade's Case on Protection -
R. C. Dutt on Imperialism - Land Tax and Public Finance - Gopal Ganesh Agarkar.


Module 2: Economic Thought of Mahatma Phule and Gandhi (12 Lectures)

Mahatma Phule's Views on Agriculture - Reasons of Farmer's Poverty - Gandhian Economic Thoughts
on Self -Sufficient Vi llage Economy - Dignity of Labour – Trusteeship - and Sarvodaya.

Module 3: Economic Thought of Dr. B.R. Ambedkar, G.K. Gokhale and Dr. Manmohan Singh
(12 Lectures)
Dr. Ambedkar's Case for State Socialism - Problem of Rupee - Public Finance – G.K. Gokhale on
Development and Welfare - Dr. Manmohan Singh's ' Three Steps' to Stem India's Economic Crisis.

Page 58

Module 4: Nobel Prize Winners in Economics (12 Lectures)

Dr. Amartya Sen (1998) -Robert. A. Mundell (1999) -Joseph Stiglitz(2001) -Dr. Abhijeet Banarjee
(2019)

References:

1. B.R.Nanda Gokhale (1977): - The Indian moderates and the British raj, Delhi.
2. Ajit K.Dasgupta,A History of Indian Economic Thought, (1993)Routledge London and New York.
3. Bipin Chandra (ed) (1999) Rande's economic writings, Gyan P ublication House, New Delhi.
4. Encyclopaedia of Nobel Laureate, Ed's, (2002) R. Kapila & A. Kapila, Academic Foundation.
5. Gandhi. M. K., (1959), India of my dreams, Navjivan publishing house Ahmadabad.
6. R. P. Mansi, Dadabhai Naoroji, (1960) publication Divisio n, Government of India Delhi.



TYBA (ECONOMICS ) (SEMESTER -VI)



COURSE CODE GROUP -II : ELECTIVE PAPER
PAPER NO –XVIII
CREDIT
MARKS
ECOIBFC606 INTERNATIONAL BANKING AND FINANCE - II 3 80

Course Objectives

This paper introduced to the fundamentals of international Banking to the students. The recent trend in
international banking such as Islamic banking, Crypto currencies and their advantages and disadvantages
will be familiarized. Role of International banking in foreign trade finance is incorporated to understand
the international finance. In this semester, the students will make an in -depth study of international
banking, financing and risk management.

Course Outcomes

 Equip students with fundamentals of International Banking.
 Provides an insight on emergence of Crypto currencies and Types of International Banking.
 Awareness on Foreign trade finance and Letter of Credit (L/C) & its types.
 The course will lead to the project work -based on empirical case studies

Page 59

Module 1: International Bank ing –I
(
12 Lectures)


Introduction to International banking - Reasons for growth of international banking -
Recent trends in international banking - Emergence of Crypto currency -Advantages and
disadvantages of Cyptocurrencies - Bit coins

Module 2: Internatio nal Banking II
(
12 Lectures)


Functions of international banking - Correspondent banking - International payment
system - NRI accounts - Foreign Trade Finance - International Merchant banking -
Offshore banking - International banking investment - Islamic bank ing.

Module 3: International Bank Financing
(
12 Lectures)


Financing Export project - International Remittances -Letter of Credit - L/C -Bank
guarantee -International lending operations -Loan syndication -Phases of loan syndication -
Types of loan syndication -Role of International Credit Rating agencies.

Module 4: Risk Management
(
12 Lectures)


Risk management and Derivatives - Types of Risks: Transaction risk, Translation risk,
Economic risk, Settlement risk - Arbitrage - Hedging -Internal and External hedging -
Derivative instruments for Risk Management -Forwards - Futures --Swaps - Options

References:


1. Cheol S. Eun ET. AL., International Finance (2012), McGraw Hill India.
2. Edition by IIBF, International Banking (2011), pan McMillan.

Page 60

3. Hull John C, Options, Futures and other derivatives, Pearson Education, 2005.
4. Rajiv Srivastava, International Finance (2014) Oxford University Press, India.
5. S. AshokKumar, Global financial and Indian economy’ New Century Publications,
New Delhi.
6. V.A. Avadhani, International Finance, (2009), Himalaya Publishing House.