BA Economics NEP 2020 Syllabus Lucknow University
SEMESTER-III
Paper-V (For Major 1,Major 2 Courses &Minor Courses)
Macroeconomics
Course Outcomes:This course aims to introduce the students to the basic concepts of Macroeconomics. Macroeconomics deals with the aggregate economy. This course discusses the preliminary concepts associated with the determination and measurement of aggregate macroeconomic variable like savings, investment, GDP, money and inflation.
Unit I:
- Introduction to Macroeconomics and Basic Concepts Macro vs. Micro Economics, Macroeconomic issues, Limitations of Macroeconomics; Introduction to National Income, Concepts of GDP, GNP, NDP and NNP at market price and factor cost; Personal Income and Disposable Personal Income; Concept and Components of Saving and Capital Formation
Unit II:
- Measurement of Macroeconomic Variables Approaches to the Measurement of GDP: Income, expenditure, product or Value added Methods, Difficulties of Estimating National Income, Circular Flow of Income and expenditure in two, three, and four-sector economy. Measuring Inflation rate and Unemployment rate; National Income and Economic Welfare; Green Accounting.
Unit III:
- Determination of Income and Employment Basic Assumptions of Classical Theory - Classical Theory of Employment - Say’s Law of Market - Wage - Price Flexibility (Pigou’s Version) - Saving and Investment Equality - Evaluation of the Classical Theory of Employment; Keynesian Theory of Employment .
Unit IV:
- GDP: Its Components and Determinants Actual and Potential GDP; Okun’s Law, Components of GDP:Consumption Function; Saving Function;Investment Function; Concept of Multiplier; National Income Determination in two and three sectors economy;Simple IS-LM model.
Text Books
1. Branson, W. A., Macroeconomics: Theory and Policy‖, 3rd ed. Harper and Harper and Row, NY.
2. N. Gregory Mankiw, Macroeconomics, 7th edition, Cengage Learning India Private Limited, New Delhi
3. Shapiro, E.,Macroeconomics: Analysis‖ Galgotia Publication, New Delhi.
Suggested Readings
1. Karl E. Case and Ray C. Fair, Principles of Economics, Pearson Education Inc., 8 th Edition, 2007 3.
2. Lipsey R.G. and K.A. Christal, Principles of Economics‖ 9th Ed., Oxford University Press.
3. SaumanSikdar, Principles of Macroeconomics, Oxford University Press.
4. Stiglitz J. E. and Carl E. WalshPrinciples of Macroeconomics, W.W. Norton and Company, New York.
Web References
SEMESTER-III
Paper-VI (For Major 1 and Major 2 Courses)
Public Finance
Course Outcomes:
This course aims to introduce the students to the basic concepts of Public
Finance. On completion of this course students will be able to understand the revenue and
expenditure system of the federal country, India.
Unit-I:
- Introduction to Public Finance Public Finance: Meaning, Nature, Scope and Importance; difference between Private and Public Finance; Principle of Maximum Social Advantage; Role of State in Public Finance.
Unit-II:
- Sources of revenue Taxes, loans, grants and aid – meaning and types, canons/ principles of taxation, problem of justice in taxes, incidence of taxation, taxable capacity; Impact of taxation & tax evasion characteristics of Indian tax system, defects & steps of reform.
Unit-III:
- Public Expenditure and Debt Principle of Public Expenditure;Principle of Public Debt and its Methods of Redemption; Effects of Public Expenditure on Production and Distribution; Public Debt in India.
Unit-IV:
- Public finance in India Sources of Revenue of Central;State Government and Local Bodies;Concept and Types of Budget, Fiscal Deficit, Deficit Financing and Deficit Budget, Financial relation between Central and State; Finance commission; Fiscal Policy.
References:
Text Books
1. Bhatia, H. L., Public Finance, Recent Edition, Vikas Publication, New Delhi.
2. Musgrave, R. A. and P. B. Musgrave, 1980, Public Finance in Theory and Practice, McGraw Hill,
Kogakusha, Tokyo.
3. Musgrave, Richard A. (1959), Theory of Public Finance, McGraw Hill, Kognakhusa, Tokyo.
4. Tyagi, B.P., Public Finance, Latest edition, Jain Praksash Nath & Company, Meerut.
Suggested Readings
1. Andley and Sundaram, Public Finance, Latest edition, Ratan Prakashan, Agra.
2. Dalton, Huge, Principles of Public Finance, 1971, Rontledge and Hegan Paul Limited, London.
3. Ganguly S., Public Finance, 1999, The World Press Private Ltd. Calcutta.
4. Mithani, D. M.; (1998), Modern Public Finance, Himalaya Publishing House, Mumbai.
Web References
BA ECONOMICS
SEMESTER-IV
Paper-VII (For Major 1,Major 2 and Minor Courses)
Money and Banking
Course Outcomes:
This course introduces students to the conceptual and practical operations of the
Money, banking, financial markets and institutions. The course is intended to provide an in-depth
understanding of the operational issues of capital and money market network along with its regulatory
framework.
Unit I:
- Demand for Money Money: Kinds, Functions and Significance, Monetary Standards: Metallic Standard, Gold Standard and Paper Standard, Value of money, Measurement of changes in the value of money, Demand for Money: The Classical Approach, Keynesian Approach.
Unit II:
- Supply of Money Supply of Money: Definitions—Determinants of Money Supply—High Powered Money and Money Multiplier—Indian Currency system.
Unit III:
- Commercial Banking Commercial banking: Nature; structure; functions: The process of credit creation-purpose and limitations, Pre-requisites of a sound commercial banking system; Liabilities and assets of Banks. ATM - Internet Banking - Core banking; A Critical Appraisal of the Progress of Commercial Banking after Nationalization; Recent Reforms in Banking Sector in India.
Unit IV:
- Central Banking Role of central banks in developed and developing countries; Functions of a central bank; Role and functions of the Reserve Bank of India; methods of credit control: Quantitative- bank rate, repo rate, open market operations, variable reserve ratio and selective methods; Objectives and limitations of monetary policy; NPA’s , Recent changes in monetary policy of India.
Text Books
1. Gupta, S.B. (1995), Monetary Economics: Institutions, Theory and Policy, S. Chand & Co.,
New Delhi.
2. Hajela, T.N., (2009) Money and Banking, Ane Books Pvt Ltd., New Delhi
3. RR Paul, Monetary Economics, Kalyani Publishers
Suggested Readings
1. Chandler L.V., and S.M. Goldfeld (1977), The Economics of Money and Banking, Harper&
Row, New York.
2. Ghosh and Ghosh, Fundamentals of Monetary Economics, Himalaya Publishing House
3. Sundharam KPM, Banking: Theory, Law and Practice, Sultan Chand and Sons, New Delhi
Web References
BA ECONOMICS
SEMESTER-IV
Paper-VIII (For Major 1 and Major 2 Courses)
International Economics
Course Outcomes:
This course introduces students to the various international trade theories
and students will learn how international trade has helped countries to acquire goods at
cheaper cost. Also, understand the concept of balance of payments and exchange rate
determination in foreign exchange market.
Unit 1:
- Theories of International Trade Need and Importance of International Trade, Free trade and protection, Mercantilism, Absolute Cost Advantage theory, Comparative Cost Advantage theory, Theory of Reciprocal demand, Terms of trade-Meaning, Types and Determination.
Unit 2 :
- The Balance of Payments Concept and components of balance of trade and balance of payments. Disequilibrium and measures to correct balance of payments. Foreign trade of India and foreign trade policy of India.
Unit 3 :
- Foreign Exchange and Exchange rate Meaning of foreign exchange rate and types- fixed, pegged, flexible, hybrid. Foreign exchange rate under gold standard, Purchasing power parity theory and modern theory of exchange rate, methods of controlling exchange rate- Unilateral and bilateral.
Unit 4:
- Financial Institutions International monetary system: Bretton woods system and IMF, Objectives, Working Quota System, SDR, The World bank group- IBRD,IDA,IFC,MIGA,ICSID,ADB- Objectives, working and functions
Text Books
1. Bo Soderston, International Economics, Palgrave Macmillan.
2. Dominick Salvatore, International Economics: Trade and Finance, John Wiley International.
3. H.G. Mannur, International Economics, Vikas Publishing House.
Suggested Readings
1. Paul Krugman, Maurice Obstfeld and Marc Melitz, International Economics: Theory and Policy,
Addison-Wesley (Pearson Education India Edition).
Web References
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