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Course No.01, Principles of Economics Date of Meeting: 7.4.2010 Convenor: Prof. S.C. Panda and B.L.Pandit The following members attended: 1. Mohini Aggarwal, Rajdhani College 2. Supriti Mishra, Shyam Lal College 3. Vandana Sethi, Moti Lal Nehru College 4. Rashmi Mittal, Dyal Singh College 5. Chander Kanta, PGDAV College (M) 6. V.K.Purohit,IP College 7. Ranjan Swarnakar, ARSD College 8. Surajit L. Chakravarty, RLA College (E) 9. Leema Paliwal, St. Stephen’s College 10. Aashita Dawer, St. Stephen’s college 11. Stuti Gupta, Shyam Lal College (E) 12. Vibha Aggarwal, Hansraj College 13. Shailu Singh, Hansraj College 14. Ravinder Jha, Miranda House 15. AJC Bose, SRCC 16. Jayesh Adeshra, Shaheed Bhagat Singh College (M) 17. Aruna Rao, SV College 18. Suresh Aggarwal, Satyawati College 19. Nidhi Chand, Maitreyi College 20. Anjali Kochak, LSR College 21. Prashant Kumar, Satyawati College (E) 22. Anand Kumar, C.V.S. College 23. Rashmi Sharma, DCAC 24. Sheikh Rubina Naqvi,Hindu College 25. Dr. Daisy Sales, J & M College There is no change in readings, pl. use last year’s reading list. “Readings (Core textbooks): 1. Joseph E. Stiglitz and Carl E. Walsh (2006), Economics, International Student Edition, 4 th Edition, W.W. Norton & Company, Inc., New York, ISBN 0-39392622-2. (hereafter Stiglitz & Walsh, 2006, 4e) 2. N. Gregory Mankiw (2007), Economics: Principles and Applications, 4 th edition, India edition by South-Western, a part of Cengage Learning, Cengage
Learning Inida Private Limited, ISBN-13:978-81-315-0577-9 (hereafter, Mankiw, 2007, 4e). 3. Karl E. Case and Ray C. Fair (2007), Principles of Economics, 8th edition, Pearson Education Inc., ISBN 81-317-1587-6.(hereafter Case & Fair, 2007, 8e). Reading List in Detail:
1. Exploring the subject matter of Economics
Why study economics? Scope and method of economics; The economic problem: Scarcity and choice; the question of what to produce, how to produce and how to distribute output; Science of economics; The basic competitive model; Prices, Property rights and Profits; Incentives and information; Rationing; Opportunity sets; Economic systems; Reading and working with graphs. Reference: Stiglitz & Walsh, 2006, 4e, Chapters 1 & 2—Ch.1: Modern Economics, pp.3-22; Ch.2: Thinking like an Economist, pp.25-50.
2. Supply and Demand: How Markets Work, Markets and Welfare
Markets and competition; Determinants of individual demand/supply; Demand/supply schedule and demand/supply curve; Market versus individual demand/supply; Shifts in the demand/supply curve, demand and supply together; How prices allocate resources; Elasticity and its application; Controls on prices; Taxes and the costs of taxation; Consumer surplus, producer surplus and the efficiency of the markets. Reference: Mankiw, 2007, 4e, Chapters 4, 5, 6, 7 & 8—Ch.4: The Market Forces of Supply and Demand, pp.72-92; Ch.5: Elasticity and Its Application, pp.93-112; Ch.6: Supply, Demand, and Government Policies, pp.113-131; Ch.7: Consumers, Producers and the Efficiency of Markets, pp.134-151; Ch.8: Application: The Costs of Taxation, pp.152-165.
3. The Households
The consumption decision—budget constraint, consumption and income/price changes, demand for all other goods and price changes; Description of preferences (representing preferences with indifference curves), properties of indifference curves, consumer’s optimum choice; Income and substitution effects; Labour supply and savings decision—choice between leisure and consumption, labour force participation, tax policy and labour supply, human capital and education; budget constraint and savings—savings and interest rate, other factors affecting saving. Reference: Mankiw, 2007, 4e, Chapter 21—Ch.21: The Theory of Consumer Choice, pp.384-405.
[ Note: Labour force participation, tax policy and labour supply, and Human capital and education are deleted from the course] The investment decision—investment alternatives for a household; Desirable attributes of investments; Why some assets yield higher rates of return than others; whether it is possible to ‘beat the market’; Some of the basic rules for intelligent investing. Reference: Stiglitz & Walsh, 2006, 4e, Chapter 39—Ch.39: A Student’s Guide to Investing, pp. 865-888.
4. The Firm and Perfect Market Structure
Financing, controlling and managing firms—the firm’s legal form, corporate finance, why corporations care about financial structure, takeover and the market for managers, making decisions, centralization and decentralization, the boundaries of the firm. [Note: These topics may be de-emphasized and discussed at a very general level] Behaviour of profit maximizing firms and the production process; Short run costs and output decisions; Costs and output in the long run. Reference: Case & Fair, 2007, 8e, Chapters 7, 8 & 9—Ch.7: The Production Process: The Behaviour of Profit-Maximizing Firms, pp.143-164; Ch.8: Short-Run Costs and Output Decisions, pp.165-185; Ch.9: Long-Run Costs and Output Decisions, pp.187-210.
5. Imperfect Market Structure
Monopoly and anti-trust policy, government policies towards competition; Imperfect information in the product market—the information problem, the market for lemons and adverse selection; the incentive problem, the search problem, advertising, the importance of imperfect information, government and information. References: Mankiw, 2007, 4e, Chapter 15—Ch.15: Monopoly, pp.271-298. Stiglitz & Walsh, 2006, 4e, Chapter 15—Ch.15: Imperfect Information in the Product Market, pp.333-352
6. Input Markets
Labour and land markets—basic concepts (derived demand, productivity of an input, marginal productivity of labour, marginal revenue product); demand for labour; input demand curves; shifts in input demand curves; elasticity of demand in input markets;
4e. Ch. exchange rates.334-348. pp. 2007. Nominal and real GDP. 8. Ch.9: Application: International Trade. sources of comparative advantage. pp. Exploring International Economics The international economy—trade surpluses and deficits. labour markets and public policy. pp. [Note: Elasticity of demand in input markets and Land market and pure rent are deleted from the course] 7. Introduction to National Income Accounting Concepts of GDP and national income. the product market. the capital market.349-363.166-182. the components of the macro economy. pp. the labour market. Chapter 19—Ch. 10. GDP and personal income.399-415. [Note: Heckscher-Ohlin Theorem is deleted from the course] Reference: Mankiw.417-433.58-69. 2007. 9. Trade barriers—tariffs.18: Introduction to Macroeconomics. case for protection.19: Measuring National Output and National Income. land markets and pure rent. The Classical System: The Full-Employment Model Macroeconomic equilibrium. Approaches to calculating GDP. Reference: Mankiw. Limitations of the GDP concept: GDP and the black economy. terms of trade. 4e. Heckscher-Ohlin Theorem and other explanations. subsidies and quotas.18: The Markets for the Factors of Production.3: Interdependence and the Gains from Trade. the methodology of macroeconomics. Chapters 3 & 9—Ch. pp. 8e. 8e.4 competitive labour markets. . 2007. the role of government in the macro economy. the economic basis for trade—absolute advantage versus comparative advantage. Reference: Case & Fair. Chapter 18—Ch. Chapters 18 & 19—Ch. extending the full employment model. Reference: Case & Fair.19: Earnings and Discrimination. free trade or protection— case for free trade. pp. Introduction to Macroeconomics The roots of Macroeconomics. 2007. macroeconomic concerns.
The Simple Keynesian Model Aggregate expenditure and equilibrium output—aggregate output and aggregate income. Money in the Modern Economy Characteristics of a monetary economy. 25 is deleted from the course] 12. Reference: Case & Fair. pp. [Note: The discussion on money supply is simpler and more lucid in Mankiw Ch. the demand for money. pp. Reference: Mankiw.455-477. Chapters 23 & 24—Ch. pp.29: The Monetary System.23: The Money Supply and the Federal Reserve System.24: Money demand. 8e. 2007. 8e. Mankiw. 4e. Determining equilibrium output in an open economy. The Fisher effect. Government participation in the economy.24: The Full-Employment Model.30: Money growth and inflation.545-566. Mankiw. 22: The Government and Fiscal Policy. 2006. Reference: Case & Fair. Chapter 29—Ch. [Note: The IS-LM curves discussion in the appendix to Ch. Exploring the Macroeconomics of an Open Economy Balance of payments—the current and capital account. pp. Ch. credit creation. pp.26: Aggregate demand. 2007. 4e. Chapters 21. The costs of inflation. 4e. the Interest Rate and Output: Analysis and Policy.530-544. 23] 13.479-500.21: Aggregate Expenditure and Equilibrium Output. Aggregate supply and inflation. Chapter 28—Ch.29 than in Case & Fair. 11. 4e. Ch.34: Open-Economy . Ch. 2007. 25: Money.561-584. 8e. pp. pp. pp. References: Case & Fair. the equilibrium interest rate and Monetary policy. Chapter 34—Ch. Ch. 2007. Aggregate demand and aggregate supply. pp. Open economy with flexible exchange rates—markets for foreign exchange. Chapter 30—Ch. 25 (excluding appendix) & 26— Ch. Inflation The causes of inflation.501-524. 2007. pp. Fiscal policy at work—the multiplier effect.525-542. 2007. the supply of money and overall liquidity position. 14.5 References: Stiglitz & Walsh.543-560. level of prices and the value of money.525-544.507-528. effects of exchange rates on the economy. factors affecting exchange rates.28: Unemployment. 22. equilibrium aggregate output. Chapter 24—Ch. Ch.
. pp.6 Macroeconomics: The Balance of Payments and Exchange Rates. 721-746.
Miranda House The following changes were agreed upon: 1) In topic II. Sumeet S. Harish Dhawanyanka Bhatia. only conceptual and not numeric questions may be asked on test power and the two types of errors. PGDAV College 10. SRCC 11. Raghunathan. PriPriyanka Bhatia.) 9. Dyal Singh College 3. Kamlesh Gupta. St. Rajdhani College 13. Anup Chatterjee. IP College 2. Paramjeet Kaur. Anita Balani. Convenor: Rohini Somanathan Purpose: To share experiences from teaching the course during the academic year 200920010. DCAC 7. SGGSCC 17. Raheja.7 Department of Economics Delhi School of Economics Minutes of the Meeting Subject: B. LSR 12.2010 Minutes of the course meeting for Paper number 03 “Statistical Methods in Economics’’ held in April 2010. Rachna Jain. Shivaji College 18. Satyawati (Eve. Shruti Dharni. only point forecasts are required. Hindu College 16. Satyawati College (M) 5. 2) In topic IV. Maitreyi College 8. (HOns. Chandra Goswami. ARSD College 14. make appropriate changes to the topics covered.A. N. SRCC 15. Pratibha Agarwal.) Economics Date: 6. the continuous uniform distribution would be covered in addition to the binomial and normal distributions. Stephen’s College 19. Ankur Bhatnagar. Hansraj College 4. In topic IV. SPM College 6. 3) In topic III. Namita Mathur. the proof of the Gauss-Markov . Archana Jain. Sangya Ranjan. Neetu Chopra. Rakhi Arora. Kamlesh Aggarwal. interval forecasts would not be covered. The following members present: 1.4.
theorem is not required, only its statement. This was always the case and this point is therefore only a clarification on the existing syllabus. In all other respects, the coverage and mark distribution in the exam remains unchanged
The topic-wise reading list is as follows: Topic I. Elementary Distribution Theory – univariate frequency distributions, measures of location, dispersion, skewness and kurtosis; the first four moments about zero, and the central moments. Readings: Kanmel and Polasek, ch. 3; Webster, ch 3; Spiegel, chs. 3,4, 5: Topic II: Elementary Probability Theory – concepts of sample space and events, probability of an event; addition and multiplication theorems; conditional probability and independence of events; Bayes rule; concept of a random variable, probability distribution; joint, marginal and conditional distributions; independence of random variables; mean and variance of a random variable; binomial and normal distributions and uniform distributions; law of large numbers and central limit theorem.
Readings:Karmel & Polasek, ch.4; Webster, chs. 4,5, 6 (pp. 148-149); Spiegel. chs. 6, 7 Topic III: Introduction to Estimation and Hypothesis Testing – Methods of sampling; sampling distribution of a statistic; distribution of the sample mean; sampling error and standard error of a statistic with special reference to the mean; point attd interval estimation of parameters; properties of an estimator – unbiasedness, relative efficiency and consistency. testing of hypothesis; type 1 and type II errors, power of a test; large sample tests; tests for the mean; one tail and two tail tests for the difference of means; chisquared tests for goodness of fit and independence of two attributes. Readings: Karmel and Polasek, chs. 5, 6; Webster, chs. 6,7,8, 9 (exclusing 9.B.2); Spiegei, chs. 8-12 Topic IV: Bivariate Distributions and Simple Linear Regression – Marginal and conditional distributions; discrete case; covariance and correlation, rank correlation. simple linear regression; method of least squares; derivation of normal equations; standard error of the regression; properties of the least squares estimator; Gauss-Markov theorem (without proof), simple tests of hypothesis on regression coefficients; linear and exponential trend, point forecasts. Readings: Karmel and Polasek, ch. 8 (excluding pp. 304-324), ch. 9 (pp. 365-371); Webster, ch. 11 (excluding section t t .11); Spiegel, chs. 13, 14.
Topic V: Index Numbers – concept of an index number, Laspeyres, Paasche's and Fisher's index numbers; time reversal, factor reversal and circular tests; chain base index; problems in constructing index numbers; splicing, base shifting; and use of index numbers for deflating other series. Readings: Karmel and Polasek, ch. 11 (excluding sections 11.9-11.12); Webster, ch. 13 (sections 13.7, 13.8); Spiegel, ch.19
Department of Economics Delhi School of economics Minutes of the Meetings Subject: B.A. (Hons) Economics Paper: 04 Microeconomics Dates of Meeting: 6-4-2010 and 4-5-2010, 2.30pm Convenor: Prof S. C. Panda Members present on 6-4-2010: 1. Surajit Deb, RLA (E) 2. Ravinder Jha, Miranda House 3. Sheikh Rubina Naqvi, Hindu college 4. Roopali Goyanka, IP College 5. Shashi Bala Garg, LSR 6. Suchismita Sinha Ray (nee Banerjee) S.V. College 7. Mrs. Savitri Sidana, ARSD College 8. Rajiv Jha, SRCC 9. Mukesh Kumar, Motilal Nehru College 10. Krishna Ram, Shivaji College 11. Sanjeev Grewal, St. Stephen’s College 12. Prashant Kumar, Satyawati (E) 13. Sonia Goel, Ramjas College 14. Shalini Saksena, DCAC
Members present on 4-5-2010: 1. Surajit Deb, RLA (E) 2. Sheikh Rubina Naqvi, Hindu College 3. Shashi Bala Garg, LSR 4. Sandhya Varshney, Dyal singh College 5. Krishna Ram, Shivaji College 6. Ankur Bhatnagar, Satyawati College (M) 7. Mrs. Savitri Sidana, ARSD College 8. Ravinder Jha, Miranda House 9. Rajiv Jha, SRCC 10. Prashant Kumar, Satyawati (E)
4. choice. (ii) Bernheim and Whinston :Chapter 11. It was decided to meet again on 4th May. public goods and markets with asymmetric information. peak-load pricing. 2. General Equilibrium.Chapter 10 (p323-p339 and p344-p351). Market Failure Externalities . Market Structure and Game Theory. production with one and more variable inputs. There was a detailed discussion about these two text books. members discussed about adopting Bernheim and Whinston as a text for some topics. 3.30pm. demand. It was decided that Bernheim and Whinston will be used for only one topic in Consumer Theory and Nicholson and Snyder will be used for Production. monopolistic competition and oligopoly. After some discussion it was agreed that members will examine both the text books and discuss their suitability in another meeting. Cost. Readings 1. revealed preference. (i)Varian : Chapters 2 to 10. Varian : Chapters 31 and 33. price discrimination. utility. In stead. 5. Some members noted that Bernheim and Whinston does not use calculus at all and hence may not be appropriate for this course. buying and selling. The detailed reading list for 2010 – 2011 is as follows. Consumer Theory: Preference.Chapter 15(p521-p537 and p541-p551). Nicholson and Snyder : Chapter 9 (p295-p311). returns to scale. budget constraint. isoquants. game theory and competitive strategy. cost curves in the short run and long run. . Chapter 11 (p358-p370 and p374-p381). Market Structure and Game Theory Review of perfect competition and monopoly.11 In the first meeting. a text book by Nicholson and Snyder may be considered. choice under risk and intertemporal choice. short run and long run costs. Efficiency and Welfare Exchange and welfare . two-part tariff. A subcommittee was set up to prepare a detailed reading list. Production and Costs: Technology. Chapter 8 (p236-p260). The second meeting was held on 4 th May 2010 at 2. Slutsky equation. 2010. Nicholson and Snyder : Chapter 14 (p491-p513). pricing with market power.
Thomson South Western/Cengage(India).the weights attached to the topics shall be as follows : Topic 1 (20%).Norton and Company/Affiliated East-West Press(India). . W. The proportion of numerical problems in the paper shall be 30% -40% (12 to 15 marks).B. 3.Broadly. Readings: 1.Nicholson and C.Douglas Bernheim and Michael D. Hal R.Snyder  : Microeconomic Theory. Tata McGraw-Hill (India). 10th edition.Whinston  : Microeconomics. a Modern Approach. Topic 3 (30%) and Topics 4 and 5 (30%). Topic 2 (20%). 2. Varian  : Intermediate Microeconomics. 7th edition.W.The workbook by Varian and Bergstrom may could be used for problems.12 Varian : Chapters 34. with the caveat that the paper setter must be left with some degrees of freedom.36 and 37.W. Notes: 1.
4. K. b) Froyen.R. Kamala Nehru college 12.8th edition. Bhagat Singh College 16. Hindu College 5. Sucharita Khuntia. Lokendra Kumawat. Macroeconomics. Miranda House 14. IP College 2. aggregate demand and aggregate supply. fiscal and monetary multipliers. Kamlesh Gupta. Dyal Singh College There is no change in the readings. 5 – Macroeconomics Date of Meeting: 8. Jayesh Adeshra. Anshu Chopra. Rachna. Lalitha. 1. SRCC 9. the accounting identities. Rajiv Jha. sPM College 4.2010 Convenor: Prof. Rajdhani College 3. Macroeconomics. JMC 7. Archana Aggarwal. Manini Ojha. Gulati. Vandana Tulsyan. The Closed Economy in the Short Run (Estimated number of lectures 17) Classical and Keynesian Systems.13 Department of Economics Delhi School of economics Minutes of the Meetings Course No. Trivedi. N. Chs. E. Ch 3 and 4. “The topic-wise Reading List follows.4. Last year’s reading list is to be used. . 3. St. D. Manjula Singh. Satyawati College (E) 13. Alka Budhiraja. LSR College 11. 6th edition. Maitreyi College 8. a) Rudiger Dornbusch and Stanley Fischer. Stephen’s College 15. Shivaji College 6. Partha Sen The following members present: 1. Ramjas College 10. Mohini Aggarwal. 5 (5-1 to 5-3) and 7. IS-LM model.
9th edition . Ch. 6th edition.15( pp441-447) and Ch. c) Rudiger Dornbusch. Stanley Fischer and Richard Startz. Macroeconomics. 6th edition. 7th edition. c) Attfield. The Medium Run:Inflation and Aggregate Supply Curve (Estimated number of lectures 20) Government budget constraint. Macroeconomics. Microeconomic Foundations (Estimated number of lectures 12) A.7. 4th edition. Demery and N. d) Sheffrin. Chs.13.W. 2 nd edition. D. financing government expenditure through taxes. Consumption a) Rudiger Dornbusch and Stanley Fischer.14 2. 6. Ch.Blanchard. Stanley Fischer and Richard Startz. pp300-306 and pp553-561. 12 & 19. 7 and 8. Phillips curve. M. bonds money creation.. Chs. pp 1-13 and 21-28. b) O. Macroeconomics.25-40. Ch. Steven. Duck (1991). pp. Open Economy Models (Estimated number of lectures 16) Short run open economy models: the Mundell Fleming model. Dornbusch's overshooting model.8 and 9.F. Macroeconomics. 3.L. b) Salvatore. Gregory Mankiw Macroeconomics. Exchange rate determination: purchasing power parity. 4th edition.16.15. 11. 2.Blanchard. Economic Growth (Estimated number of lectures 7) Solow model. Rational Expectations. 2nd edition. b) N. . pp292-294. a) O. adaptive and rational expectations. The monetary approach to balance of payments. Chs. Rational Expectations in Macroeconomics. C. 9th edition.2( pp 344-348). Ch. policy ineffectiveness debate. asset market approach. (1996). pp34-p35. Ch. Gregory Mankiw Macroeconomics. 6th edition. a) Rudiger Dornbusch. elements of endogenous growth a) N. 5. 4.Dominick (2001). International Economics. Macroeconomics.
Worth Publishers. 2nd edition. International Economics. 5. Macroeconomics. 6th edition. Stanley Fischer and Richard Startz.17. McGraw Hill. Attfield. 6th edition. Steven M. Rudiger Dornbusch and Stanley Fischer.17. (2006) Macroeconomics.L. Gregory Mankiw (2007) Macroeconomics. Pearson Education Asia.3 ( pp 504-507). C. Cambridge University Press. Macroeconomics. 6th edition. Rational Expectations. Macroeconomics. Olivier. Gregory Mankiw. Blackwell. 4th edition. (1996). 12 b) N. Investment a) Rudiger Dornbusch and Stanley Fischer. Sheffrin. McGraw Hill. 2. 6. 2 nd edition. 7.1( pp 495--500) and Ch.D (2001). 4.W. Blanchard.7th edition. . 9th edition. N. Salvatore. Demery and N. Ch. D. Readings: 1. 3. Wiley Asia. Macroeconomics. Rudiger Dornbusch.15 B. 6th edition.. Rational Expectations in Macroeconomics. Ch. Duck (1991).F.
Part B would have four questions of 13 marks each of which students would be expected to answer any two. Students should be asked to answer three questions of 12. The paper should be divided into two parts. Guidelines for paper setting were discussed with the following recommendations: The maximum marks for the final examination would be 38.16 Department of Economics Delhi School of economics Minutes of the Meetings Paper No. 13 and 13 marks respectively. with the remaining 12 marks for internal assessment. Care should be taken to avoid set patterns and efforts should be made to ensure that the final exam paper is not easily predictable by the students. Stephen’s College Sunita Meena: Miranda House Simin Akhtar Naqvi: Zakir Hussain College Puja Saxena: Hindu Colleg Pushpa Bansal: Maitreyi College Manjul Singh: Satyawati College Daisy Sales: Jesus and Mary College Chandu Kanta Gupta: PGDAV College (M) Meera Malhan: DCAC Manini Ojha: LSR A. of which students would be required to answer one.Vijay Kumar: Ramjas College Saumyajit Bhattacharya: KMC Minutes: 1. cutting across readings/sections in the reading list. 06 “Economic History of India” Date of Meeting: 19 April 2010 Chairperson: Professor Ashwini Deshpande Members Present: V. Part A would have three questions of 12 marks each.Shobha Saluja: SPM Krishnakumar S: Sri Venkateshwara College Kartikeya Kohli: RLA (E) Meeta Kumar: Miranda House Shweta Jain: St. .
2 .2 and 1.73-89. Chapter 2 in Bimal Jalan (edited) The Indian Economy: Problems and Prospects (Viking – Penguin Books 1992) Note 1. pp 371-74 and 385-87 B. ECONOMIC HISTORY OF INDIA 1857-1947 Reading List 1. labour force and occupational structure L. Bayly. Tulika 2006. National Income Tirthankar Roy. The new reading list is as follows.97-102 C. Chapter 3 pp. Indian Economy 1858-1914 (A People’s History of India. 1987. Chapter 5. CEHI Chapter 10. Chapter 4: The consolidation and failure of the East India Company's State.1 and 2. Krishnamurty. A. Chapter 1 should be referred to as background reading for students 2. Colonial India: An Overview C. 869-877 Irfan Habib. Bipan Chandra.28. pp. Sumit Guha: ‘Mortality decline in early 20th century India’.II) ed. Pp. Macro Trends A. 2008). Visaria and P. Visaria. The New Cambridge Eco History of India. Vol.804-813.17 Minor changes were made to the reading list.e. Foreign trade and balance of payments KN Chaudhuri. Indian Society and the Making of the British Empire. The Economic History of India 1857-1947 (2nd edition. Population.3 from Irfan Habib. IESHR 1991. 23-34. CEHI Chapter 6. Sections 2. pp. 826-865. Foreign Trade and Balance of Payments pp. i. 106-135. Chapter 2: Colonialism and the Indian Economy pp. By Dharma Kumar (henceforth referred to as CEHI). Occupational Structure. Orient Longman. The Colonial Legacy. Cambridge Economic History of India (Vol. Population. 464-466 and 485518 J.
Chapter 3 pp. 2008). Summary and Conclusions pp. Chapter 10 pp.2 and 3. capital. ‘When Rains Fail: Famine relief and mortality in British India’. Chapter 4.51-74 (Sections 3.1. Vol. Emergence of an Industrial Labour Force in India.) Political Economy of Hunger.2-1984 Jean Dreze. Chapter 3 pp. 2008) Chapter 6 MD Morris. rise of the modern industrial sector during the pre-war and the interwar period.3) Tirthankar Roy. Chapter 11. Money supply and prices Tirthankar Roy. The Economic History of India 1857-1947 (2nd edition. 113-171 Daniel Thorner. Ch. Tulika 2006. labour. The Economic History of India 1857-1947 (2nd edition. 1976 Tirthankar Roy (2nd edition. Railways and Modernization John Hurd. The Economic History of India 1857-1947 (2nd edition. Agriculture (land.97-102 E.198-210 . technology. Savings and Investment Tirthankar Roy.1 and 1. Introduction pp. 2008). growth of entrepreneurship) Rajat Ray (ed.1-13 Ira Klein.13-35 (Sections 1. Agrarian Prospect in India Chapter 1. Journal of Development Studies. pp. pp. Deindustrialization in India in the nineteenth century: Some theoretical implications. CEHI Chapter 8 Railways pp. 2008).18 D.28. Traditional and Modern Industry (The ‘deindustrialization’ hypothesis. commercialization.737-761 4.329-340 3. 3. OUP 1965. Famine Prevention in India in Dreze and Sen (eds.2) Sumit Guha: “Environment and Ethnicity in India”. Indian Economy 1858-1914 (A People’s History of India. WIDER Studies in Development Economics pp. famines and environment) Irfan Habib. IESHR 21. supply of industrial labour.) Entrepreneurship and Industry in India.8 5.1-69 AK Bagchi.
Chapter 2 Background Readings for Teachers: 1. OUP 1992. Chapters 1. Sekhar Bandopadhyay. pp. Tariffs and Empire. 4. “From Plassey to Partition: A history of modern India”. Political Economy of the Raj. OUP 2003. India and the British Empire 1880-1935. 2008. G. IESHR Vol. Orient Blackswan. Ecology and Colonial India: Departures and Beginnings. Balachandran. The Indian Economy. Environment. CEHI Chapter 12. The Indian Economy at Independence (This topic is to be de-emphasized since it gets covered in detail in Paper 07 . (mimeo) should be treated as background to discuss issues relating to forests and environmental policies in British India (a copy of this paper will be made available at the photocopy shop at the Delhi School of Economics campus) 3. The Fiscal System Basudev Chatterjee: Trade.1-31) can be treated as a general background reading for the course. Mahesh Rangarajan. Tomlinson.India’s Economic Development. The Introduction of this book (pp. NO questions should be set from this topic) Pramit Chaudhuri.XII Dharma Kumar. Vikas 1978. 3 and 4 – essential background 2. The Role of Government BR Tomlison. Epilogue 7.19 6. 82-95 . India and the World Economy 1850-1950.
9.4.7 . Development and Structural Change A. Growth and Development experience in different phases of growth defined in terms of policy regimes and goals of development B. The consensus was that the discussion in this unit be broadened to include major changes in the policy environment through the 1980s.India’s Economic Development since 1947. UNIT-2: Growth. Meenakshi Kartikeya Kohli Shailkaj Thakur Shruti Dharni The revised reading list is as follows. Development Planning The Indian Experience. Date of Meeting: 9. India’s Turn. 7. 3. Meenakshi The following were present: 1.Sen(2002). Growth record of Indian Economy: 1950-2008. 11. Adarsh Arora Anjali Khurana Baisakhi Mondal Bhupinder Kaur Bir Singh Divya Misra Dolly Menon J. 2. Mohan R (2008).V. 5. Subrmanium.2010 Convenor: Prof. UNIT-1: Major Features of Indian Economy at Independence 1. 4.5-2. Nagraj. EPW May 10 2. 8.1 Growth and Structural Change 1. India: Development and Participation. R (2008). Arvind Subramanian.V. India’s recent economic growth: a closer Look. Dreze J and A. Chapters 1 and 2 2. A story of sustained savings and investment. J. 6. 10.20 Department of Economics Delhi School of economics Minutes of the Meetings Course No. Sections 2. A (2007) Growth Experience in The Oxford Companion to Economics in India . B. organized by Unit. 9. The experience of growth and development: Planning and the Market 1. Chakraraborty (1987). EPW April 12 3. Chapter 1.
K (2008).3. Dyson. Mongia. 19 September 2009 UNIT-3: Issues in Indian Economic Policy A. Ramaswami. Indian Development experience in International Perspective: Factors. C. July 28 . Health Indicators. chapters 2 and 3 2. EPW. Abhiroop Mukhopadhyay and Indira Rajraraman (2007): Rural Employment 1999-2005: Who Gained Who Lost? EPW. Indrani Gupta. November 24. Dreze. Implementation of Employment Guarantee: A Preliminary Appraisal. Environment Policy in The Oxford Companion to Economics in India 3. B (2007) Public Distribution System in The Oxford Companion to Economics in India 2. IEG Lecture series 2. Food Procurement Policy in The Oxford Companion to Economics in India 3. Summary. J and A Deaton (2009) Food and Nutrition in India. China and India: Idiosyncratic paths to High Growth. India’s Demographic Transition and its Consequences for Development. T (2008). 3 and 4. Glorifying Malthus: Current Debate on Demographic Dividend in India. Sabyasachi Kar and S.2 Growth and Distribution 1. 4. Population and Human Resources Development 1. Somanathan.4 Regional Contrasts 1. Kaushik Basu.21 B. EPW. part 2 of the paper in The Oxford Companion to Economics in India 2. J and A Sen (2002) India: Development and Participation. pages 1-3. Strategy and Policy 1. Feb 14. Sakthivel (2007). James. February17 B. Report of the Expert Group to Review the Methodology For Estimation of Poverty (2009). E. Biodiversity in The Oxford Companion to Economics in India 2. June 21 B. P (2007). Jha S (2007). Arvind Subramanian. Unemployment and Poverty 1. EPW. Human Development and Environment 1. The Oxford Companion to Economics in India B. P. EPW. 2. Growth. Sections 1. Facts and Interpretations. Chakraborty. Dreze. “Reforms and Regional Inequality in India” EPW.
Jomo Kwame Sundaram (2010).22 C. Mihir Rakshit (2008). India (2007) Chapter 7: Removing infrastructure bottlenecks 5. 2. editors. EPW. Industry and Services 1. in The Oxford Companion to Economics in India 3.” Macroeconomic Performance and Policies 20008” Chapter 4 in Shankar Acharya and Rakesh Mohan. M (2007) LandReforms in The Oxford Companion to Economics in India 4. A. OECD Economic Survey. India’s Economy: Performance and Challenges (Oxford University Press). OECD Economic Survey. Eleventh Five Year Plan 2. 27. editors. OECD Economic Survey. Rakesh Mohan (2010). Pulapre Balakrishnan. March 28 3. Agriculture. Vaidyanathan. Ramesh Golait and Pankaj Kumar (2008). India (2007) Chapter 3: Reforming India’s product and service markets. Fiscal and Monetary Policies 1. India (2007) Chapter 1: India’s key challenges to sustaining higher growth 4. Macroeconomic Stabilzation: Trade. (2007) Irrigation. UNIT 4: India’s Development Prospects: Looking Ahead 1. “Lessons from the 2008 World Food Crisis” EPW. Ghatak. Shankar Acharya (2010). India Amidst the Global Crisis. D. “Agricultural Growth in India since 1991” RBI DEAP Study no. March 20. 2. “India’s Financial Sector and Monetary Policy Reforms: Fostering Growth while Containing Risk” Chapter 5 in Shankar Acharya and Rakesh Mohan. India’s Economy: Performance and Challenges (Oxford University Press). .
Nandini Datta. Subramanian and J. Harish Dhawan.) Economics Course 08: ECONOMY. Social Scientist Number 11 . RLA (E) 10. * N. Uma. Vijaya Kumar. Williamson. A. “The World Crisis: Reforms to Prevent a Recurrence”. Ramjas College 6. Soumyajit Bhattacharya. November-December 2009. LSR 5.A. pp. Patnaik. Aditya Bhattacharjea Teachers present (as per attendance sheet) 1. Nomita Mathur. * A. Shivaji College 2. and * P. (Hons. STATE AND SOCIETY Date of meeting: 13 April 2010 Chairperson: Prof. Stephens college 7.12. St. . as very few teachers were present. Mamta Datt. Miranda House 8. LSR The following new readings were suggested. Aashita Dawer. and will be considered for students from 2011-12. they are to be included only as starred readings for teachers during the academic year 2010-11. Madhvi Moni. However. “The Question of Alienation in Marx”. 48-71. Kirori Mal College 9. both in EPW March 28 2009. Satyawati College (M) 3.23 Department of Economics Delhi School of economics Minutes of the Meetings Subject: B. Lakshimi Bai College 4. Divya Misra. Patnaik. “The Economic Crisis and Contemporary Capitalism”. Volume 37.
Baran (1957).K. 12. Fran Tonkiss (2006). Heilbroner. Post-Fordism: A Reader. Irfan Habib (1995): "Capitalism in History". Heilbroner (1987). R. 7. ch. and editorial rd comment in 3 edition (1986) pp. Vol. O. W. Hunt (2004). Prentice Hall. pp 144150. Edwards.24 The existing reading by Kiely may be considered for deletion in 2011-12..) A Critique of Economic Theory (Also in Kalecki. 7 and 8. 4.Reich and T. Shilpi Publications). The Dictionary of Marxist Thought. Ash Amin (ed) (1994).K. 2009. Socialism and Democracy. “Political Aspects of Full Employment”. "Capitalism". Lange. Bottomore et al (eds. 2000). “The Recent Crisis in Global Capitalism: Towards a Marxian Understanding”.G. Chapters on Weber and Schumpeter. Capitalism. 4. The reading list is reproduced below: “ Reading list: 1. Macmillan. 9. Allen & Unwin. P. March 28.1 in R. Sharpe (Indian edn. Gurley (1978): "The Materialist Conception of History". Otherwise. Selected Essays on the Dynamics of the Capitalist Economy . Hunt and J. Sep.W. The Theory of Capitalist Development. 5. “The Role of the State”. Inequality (Routledge India 2008 reprint).4 in The Nature and Logic of Capitalism (excluding section 1). Chapter 3. Anwar Shaikh (1983): Entries on "Economic Crises" and "Falling Rate of Profit" in T. M. the reading list and examination pattern remains unchanged from 2009-10. The Political Economy of Growth. 7-10. Contemporary Economic Sociology: Globalisation. nd M. 7/9 (Jul. M. Economic and Political Weekly. Also reprinted as Chapter 2 in Behind the Veil of Economics by R. in The New Palgrave Dictionary of Modern Economics. [starred] 10. Maya Blackwell. Theories of Modern Capitalism.).) . [*The entry on “Class” by Bottomore in this dictionary is starred] 8. 23. 2. in E. J. .Norton. [*Chapter 6 (Class) is to be treated as a starred reading] 13. 11. 15. 6. Kalecki (1943). R. P. 1971 ). Chapters 6. Vamsi Vakulabharanam (2009). 3. George Allen and Unwin (1976 edition). 8 and 10. Schumpeter (1942). The Capitalist System (2 edition). History of Economic Thought. Production. Chapter 4 (Fordism and After). Bottomore (1985). Chapter 1. 1995).E. Schwarz (eds. Social Scientist. 1973). pp. Political Economy. J. No. 6. Cambridge University Press. chapters 2. Blackwell. Sweezy (1942). Heilbroner (1988). Weisskopf (ed. Chapter 2 (Elam) 14. 15-31. *T.L. vol 1. Chapters 1 and 2.2. (Pelican edition.L. OUP (Indian edition. Ch. 5. E.
pp. 20. (pages 101 to 111) [The above mentioned ten pages of reading 20 is to be treated as an essential background to reading 19 for providing an account of the basic contents of Lenin’s theory of Imperialism. However. in Kiely and Marfleet (eds).. Prabhat Patnaik (2006). Ronald Dore 2008. Uneven Development and Global Inequality. Transnational Corporations and the Nation State. 1097–1112. Macmillan). R.Kozul Wright and R. S.] Readings marked with a * are primarily for teachers. 4 4 The Evolving Structure of Capitalism 10-16 5 Capitalism in a Global Context 17-20 “. “Lenin’s Theory of Imperialism Today”. Volume 17. Jomo (ed.) The Long Twentieth Century: The Great Divergence: Hegemony. “Financialization of the Global Economy”. Hymer. 19. and the Third World".25 16.) Economics and the World Order from the 1970s to the 1990s) 18. Industrial and Corporate Change. Global Capital. OUP. Kiely (1998).) International Firms and Modern Imperialism (also in J. "Transnational Companies. James O'Connor (1970). 2 2 Capitalism as an Economic System 5-9 3 The Transition from Feudalism to Capitalism 3. in H. 17. the following is the topic-wise list of readings. in K." in Robert Rhodes.). Number 6.S. "The Multinational Corporation and the Law of Uneven Development". Globalization and the Third World (also in R. Topic Readings 1 Analysing Social Change in Historical Perspective 1. New York: Monthly Review Press. Radice (ed. As a rough guide.ed.Rowthorn (ed. "The Meaning of Economic Imperialism. and their interconnections should be recognized. Imperialism and Underdevelopment. Bhagwati (ed. students should be made aware that several of the readings cut across topics. .
009 : Development Theory and Experience Date of Meeting: April 5. Sushil Tyagi. 3) It would be desirable to have a reading on Microcredit.26 Department of Economics Delhi School of economics Minutes of the Meetings Course No. Teachers of the course should look for suitable readings on these topics over the course of the year and we will take a decision on these next year. we may want to have a reading on how climate change affects the poor. make appropriate changes to the reading list and discuss the structure of the exam. The Mihir Shah reading is to be re-introduced. For this year. we will not bring in additional readings on Microcredit. we could replace the reading on “Project Surya” with one on urban air pollution and CNG to which the students might relate well. 4) In the section on Environment and Development. . 5) On Globalization. Convenor: Rohini Somanathan Purpose: To share experiences from teaching the prescribed readings during the academic year 2009-20010. Suman Mor and Rene Van Grieken. Migration or Climate Change and Poverty. 2) The article on “Rural Credit in 20th Century India: Overview and Historical Perspectives” by Mihir Shah and co-authors worked well and should be reintroduced. p 405-417 (2006) This is available at the photocopy shop at the Delhi School. Environmental Monitoring and Assessment. It can also be downloaded using google scholar. Eric Wauters. The following comments on the reading list were made: 1) It is desirable to introduce a reading based on the Indian experience with migration and social networks in villages of origin. 2010. The following article on air quality and public transport in Delhi is to be used instead of the project Surya reading: Assessment of Air Quality After the Implementation of Compressed Natural Gas as Fuel in Public Transport in Delhi. volume 115. India by Khaiwal Ravindra.
Micromotives and Macrobehavior. number 2. chapter 1 in UP (on defining poverty lines) iii) Amartya Sen. 1996. 1998. Hirschman. Yesterday and Tomorrow “. Journal of Economic Perspectives. 8. “Corruption and Development “. 2007. 3) Abhijit Banerjee. UP. Understanding Poverty (UP). 2000. 2006.1. Development Economics. Roland Benabou and Dilip Mookerjee ed. Economics: A Very Short Introduction. pages 1-29: Characteristics of Development ii) DE. “ The Kuznet's Curve. chapter 4. chapter 8 on poverty measures and correlates (8. iv) Dani Rodrik. chapter 11 in UP . and Others Poor “. (DE) Princeton University Press. iii) Mancur Olson. chapter 1 : “A Dissenter's Confession: The Strategy of Economic Development Revisited “and chapter 3: “Linkages in Economic Development” v) Jean Jacques Laffont. 3 (Communities) and 4 (Markets) (pages 30-89) ii) Thomas C. 14. `` Measuring Poverty''. OUP. Fifty Years of Growth (and lack thereof): An Interpretation . chapter 1.5.3 and appendix for FGT measures) ii) Angus Deaton. Chapter 1 of One Economics. 2007-2008: Country Rankings (Tables 1. Chapters 2 (Trust). Oxford University Press. Calculating the Human Development Index and definitions of statistical terms should both be covered from the back of the report. State and the Market i) AVSI. Many Recipes: Globalization. iv) Thomas Piketty. 15 and 21). (AVSI). 8.” chapter 4 in Development as Freedom. 9. “ Big Bills Left on the Sidewalk: Why Some Nations are Rich. OUP. chapter 2: Some historical explanations for differences in development indicators. Jr.2. iv) Albert O. Institutions and Economic Growth Poverty and Inequality i) DE. 2) Partha Dasgupa. iii) Human Development Report. chapter 6 on inequality measurement. “Poverty as Capability Deprivation. Rival Views of Market Society and Other Essays.27 The amended reading list is as follows: Books 1) Debraj Ray. pages 3-24. 8. Readings by Topic 1) Growth and Development Development and Underdevelopment i) AVSI. Schelling. volume 10.
chapter 14 v) Mihir Shah. Eric Wauters. Suman Mor and Rene Van Grieken.3). April 14. “American Economic Review. Chapters 4. Oxford.28 Resources Captial and Technical Progress i) DE.5) iv) Robert Bates (2000). chapter 16 in UP iii) DE Ch 10. “ The Global Economy and the Poor.1. chapter 3 (growth models) Labor and Employment Issues i) Population Growth and Economic Development: DE Ch 9 ii) Christopher Udry.S. pages 131-134. 27:1169. “ Trade and Development: Some Basic Issues”. 1993. “Ethnicity and Development in Africa: A Reappraisal “. chapter 11. Chapter 7: Sustainable Economic Development ii) Khaiwal Ravindra. chapter 7 in UP The Trade Policy Debate i) DE. Pranab Bardhan. “ Globalization and Its Challenges . chapter 12 (12. Papers and Proceedings. Rangu Rao and P. 93(2). Sushil Tyagi. chapter 4 in Selected Economic Writings of Sukhamoy Chakravarty. 8 and 9. EPW. volume 115. Land and the Rural Economy i) Overview of Rural Markets DE. Jodha.2 and 10. “. “Common Property Resources and Rural Poor in Dry Regions of India “. the Lewis Model and the Harris-Todaro model (only sections 10. p 405-417 (2006) iii) N. chapter 16 (sections 16.2 and 16. 2007 The Environment and Sustainable Development i)AVSI. iii) Labor Markets: DE.5) iv) Credit Markets: DE. 90(2).2 and 12. Vijay Shankar. . ii) Land Markets: DE. Papers and Proceedings. pp 1-30.3 and excluding 10.3. India'' Environmental Monitoring and Assessment. ``Rural Credit in 20th Century India: Overview and Historical Perspectives''. iv) An Inconvenient Truth directed by Davis Guggenheim (available on DVD). `` Child Labor''. EPW. Stanley Fischer (2003).S. 12.3 on comparative advantage) ii) Sukhamoy Chakravarty. (markets in agriculture). (excluding 13. Globalization and Development i) ii) iii) Paul Krugman (2008) The Return of Depression Economics and the Crisis of 2008. ``Assessment of Air Quality After the Implementation of Compressed Natural Gas as Fuel in Public Transport in Delhi. American Economic Review.
Resource Use Efficiency Fertilizer. Mansi Sachdeva. Water. “COURSE OUTLINE Indian Agriculture and Industry Part 1: AGRICULTURE 1. The Policy Environment Agricultural price policy and subsidies. Ramlal Anand College (E) The following recommendations were made by the committee: (1) The present syllabus and readings will be retained for the next academic year 2010-11 (2) The reading list ought to be ‘unified’. Current Issues in Indian Agriculture (selected topics) Sustainable agriculture growth – concepts and constraints. Prospects for dry-land agriculture. Kartikeya Kohli.e. the public distribution system 3. International trade in agriculture. Kalindi College Dr. Agriculture Exports . Agricultural Performance since Independence Output and productivity growth. (H) Economics Paper: No. Other inputs 4. Shyama Prasad Mukherji College Ms. there should be no bifurcation of the readings into ‘main’ and ‘additional’ (3) Regarding the section on the ‘Competition Commission’. i. a more up-to-date sketch of the status quo ground realities may be used. technology policy. growth and instability 2. Asha Mittal.A. 2010 Convenor: Prof. market infrastructure. crop insurance 5.29 Department of Economics Delhi School of economics Minutes of the Meetings Subject: B. 10 – Indian Agriculture and Industry Date of Meeting: April 8. Sunil Kanwar The following college teachers attended the meeting: Mrs. regional and crop perspectives.
privatization. EPW. Water in Kaushik Basu (ed) The Oxford Companion to Economics in India. A. Anant (2006). Amit Bhaduri (2006). 2. 3i (http://www. Majumdar and Uma Kapila (ed). Food Policy in India: Some Longer Term Issues. employment growth in the industrial sector . vol. DRG. Vaidyanathan (2007). 2. V S Vyas and Surjit Singh (2006). Nov. Additional readings: 10. 4 8. in Amit Bhaduri. Jeromi (2000). Study no. 9. RBI (excluding sections I. Irrigation Achievements and Challenges.6).shtml) 4. Mehta (ed. A.. Modernising Indian Agriculture: Priority Tasks and Critical Policy.D. Public vs.21. Dynamics of the Industrial Sector: growth and sickness 3. Maitreesh Ghatak (2007). A. 5. Mihir Rakshit (2002). 316-320.). pp. Ramesh Chand (2006). Academic Foundation. large industry. A. Competitiveness and changes in policy regimes 2. Money and Finance. Oxford University Press. A Functional Competition Policy for India. Changing Perceptions and Development Policy. Institutional Reforms for Agriculture Growth in N. 6. Indian Agriculture in the New Millennium. chapter 11 in Pradeep S. Employment and Development. Vaidyanathan (2007). Part 1 of Chapter 7: Irrigation and Water Resources in India Infrastructure Report 2007: Rural Infrastructure. Trends in Industrial Regulation and Control Pricing in public and private sectors. Apr-Sept 7. Land Reforms.3inetwork. Academic Foundation 3.org/reports/reports1. in Kaushik Basu (ed) The Oxford Companion to Economics in India. Rao and P. ICRA Bulletin.C. pp. Crop Insurance in India: Scope for Improvement. Agriculture Markets in India: Implications for Competition. private sector. pp. V.3-I. Apoorva Oza (2007). Management of shortages and surpluses Readings 1. Part II: INDUSTRY 1. 553-557. with emphasis on: performance of public sector.M. 328-332. WTO and subsidies in Developed Countries. T.. Issues Relating to the Composition of the Indian Industry Small vs. Irrigation in Kaushik Basu (ed) The Oxford Companion to Economics in India. Productivity and Production Relations: The Case of Indian Agriculture.30 Quantitative Restrictions (QRs) and Non Tariff Barriers. Overview of Industrial Scene in India Trends in growth and productivity.
Academic Foundation. A Functional Competition Policy for India. R. Mehta (ed).141” . 11.31 4. Nagaraj (2003). Aditya Bhattacharjea (2006). Economic Policy Reforms and the Indian Economy. Pulin B. of Chicago Press. A Functional Competition Policy For India. Nagaraj (2003).). Aditya Bhattacharjea. 24. Sept. EPW. K.O. A Critical Review of the Empirical Evidence.). FDI in India in the 1990s. 4. 6.). Academic Foundation. Mehta (ed. Industrial Policy and Performance since 1980. State of Competition in the Indian Manufacturing Industry. EPW. Nov. Working Paper No. Univ. chapter 4 in Pradeep S. SSI Policy in India: A Critical Evaluation in A. 5. Additional readings: 10. S Charkravarthy (2006). Issues of Management Limiting market abuses. Ramaswamy (2006). EPW. Privatization. pp. FDI / FIIs 6.7 7. pp.and Post-Reform Periods.30-Sep. Academic Foundation. Rakesh Mohan (2003). Does Openness Promote Competition? A Case Study of Indian Manufacturing. Krueger (ed. Manoj Pant and Manoranjan Pattanayak (2005). OUP. Policy Issues and Future Prospects Infrastructure. Manish Agarwal (2006). A Functional Competition Policy for India. 3. Financing of Industry Ownership and Efficiency. Mergers and Acquisitions in India: Implications for Competition. 26. in Kaushik Basu (ed) The Oxford Companion to Economics in India. 20. 18-19.V. Anti Trust Law. Labour Market Regulation and Industrial Performance in India. chapter 2 in Pradeep S. Mehta (ed. R. 426-430. Technology 5. in Kaushik Basu (ed) The Oxford Companion to Economics in India. Bishwanath Goldar (2004). Apr. EPW. Nayak. 2. 12. Chapter 12 in Pradeep S. Evolution of Competition Policy and Law in India. CDE. Aug. Equity Markets Readings 1. 8. Indian Manufacturing: Productivity Trends in Pre.
16 – 17. Capital Markets.42.6 – 20. Jadhav ch.2. “TOPIC WISE READING LIST 2009-10 TOPIC I Money in the Financial System Lewis and Mizen. Monetary Economics.Jyotsna. DCAC 5.15 – 16. 20. 1. 16. Jayashree Sahoo There is no change in the readings of Course 11. CVS 8.1. Anurag Malhotra. The reading list for 2009-10 remains valid for the year 2010-11.11 – 19. Mamta Datt 3.Pandit The following members attended: 1. pp.ch. Mrs.Manisha Vats 11. pp. 2 p.32 Department of Economics Delhi School of economics Minutes of the Meetings Course No. 1. SRCC 2. Stephen’s College 6. ch.17. Shruti Dharni.40 – 12. Meera Malhn. N.3 Money and its Functions .A Hon’s Economics.7.16. 1. 23-28 Bhole.5 Fabbozzi et al. The Conceptual Approach Baye and Jansen.L.Functions of Money. Priti Sahni. 21-26. Money and Financial Markets Chairperson: Prof. Money as a Special Asset. St. Ch.Maitreyi College 9. Ashis Taru Deb.1 – 22. 19. 2. Money and Financial Markets of B.9 The Financial System .1 . Rituranjan. 11. 12. B. Financial Instruments and Money Markets. Ch. Mishkin and Eakins. Hindu College 4. 17. Financial Deepening .Financial Markets. 22.12. Anand Mittal. Hansraj College 7.1.SPM College 10. 1.2. How money is established Types of Money.
7. Baye and Jansen ch. Jadhav ch.2.3.4. Jadhav pp. Oranisation and Structure. Adverse Selection and Moral Hazard The Bond Market.1 . 14 Monetary Aggregates Theories of Money Supply Central Bank Functions and Central Bank Balance sheet A Schaechter.1.11. 577-580 . 12 and 13 Fabbozzi et al. Jadhav ch.1.2. Mishkin and Eakins ch. 2. 5 (pp. 9-14. The Foreign Exchange Market. Jadhav. 517-529. 67-75 Interest Rates in India. V. Report of RBI's Third Working Group on Money Supply (1998). 239-51). 6 (pp. IMF Working paper 01/149. 496-504. 8 (pp. ch. Y. 220-230). Reddy ch.6-2. 9 N. The Yield Curve TOPIC IV Financial Markets Baye and Jansen ch. Recent Developments Derivatives Baye and Jansen ch. 7 TOPIC III Analysis of Interest Rates Baye and Jansen Ch. Call Money Rates.1. ch. Policy Rates. 10. Annexure 2. or. ch. Determination of Interest Rates. T-bill Rates. 185-197). 2. Debt Instruments.33 TOPIC II Money Supply Analysis N. Theories of Term Structure of Interest Rates. Debt Valuation Equity Markets. pp. Repo/Reverse Repo Rates. pp. 7 (pp. 15 The Banking System. 11. ch. RBI Bulletin Supplement June 1998 Jadhav ch. 153-163).
A Schaechter IMF Working paper 01/149 pp. M. K. Financial Stability and Central Banking in India Macmillan Baye. 4th ed. and Conduct of Monetary Policy: The Indian Experience”. AITBS. chapter on Monetary Policy Operations International Capital Markets. 9. chapter 6. Monetary Policy. RBI Bulletin. McGraw-Hill. ch. 9. Jadhav. (2000). UBSPD Salvatore. International Economics. Levi): Chapter 8 in Exchange Rates and International Finance. Tata McGraw Hill... 110-111). Targets and Indicators of Monetary Policy. Jones. Suggested Readings: Bhole.4 (pp. Portfolio Diversification. pp. S. 9. Reddy. Salvatore. W. D. 21 M. N. Y.1. D.2. (2006). and Mizen.2. F. Banking and Financial Markets: An Economics Approach. 24-25. Wiley.in) regularly to keep themselves abreast of the latest developments in the field. Mishkin. Levi. Liberalisation. 20-21. (3rd edn. Monetary Economics. Modigliani..3. Suggested Reading for teachers (for potential inclusion in the reading list next year. Copeland (published by Pearson Education) . Oxford. Rakesh Mohan (2007) RBI Annual report (latest. G. Ch. Foundation of Financial Markets and Institutions Pearson Education Jadhav. M. The International Monetary System Monetary Policy in India's open economy Note: Students are advised to visit the RBI website (www. M. “Capital Account. R. Financial Institutions and Markets.ch. D. 6. in place of M. Lewis. International Finance. J. and Jansen. (8th edn. 3-9. D. 19 Monetary Management in an Open Economy Jadhav. to be released in 2009).3. Baye and Jansen ch. Monetary and Financial Sector Reforms in India. G.4. M. and Eakins. (1996). 18 (excluding pp. M.3 (excluding section 6.). V. 20.rbi. 20. J. and Ferri. F.6. Levi. Goals. S.). 6. (2000).1. ch. July 2007. (4th edn. Money. (5th edn) Financial Markets + Institutions Pearson Education Fabbozzi..34 TOPIC V Monetary Policy Instruments of Monetary Policy. by L. 1129-1153. Monetary Policy Lags TOPIC VI N. 20. 20. P.7.5.. 447-450) Jadhav.1). F. 5. (1996). L. Rakesh Mohan (2007).). F.org.
St.2). Surjeet R. 2. I. Public Finance.2 Tools of Normative Analysis: Pareto Efficiency. Deepa Verma. Anamitra Roy Chowdhury. Nayak The following members were present in the general meeting: 1. Chapter 4. Equity and the Social Welfare Function. Market Failure 1.1 Fiscal Functions: An Overview R. Free Riding 1. Chandan Singha. Dhillon. Surajit Deb.12 – Public Economics Date of Meetings: 20.A.B. Deepti Taneja. Public Finance and Public Choice. Uma. Shashi Bala Garg.K. Mrs. Ashwani Mahajan. Musgrave and P. Upriti Mishra. Pulin B. 3rd Edition. Dr. Dyal Singh College Reading List Part I: PUBLIC ECONOMICS THEORY I. SGGSCC 14. Stiglitz. Stephen’s College 7. PGDAV College 8. Ms. I. Pure and Impure Public Goods. Ms. Rashmi Mittal.35 Department of Economics Delhi School of economics Minutes of the Meetings Course No. IP College 15. Ms. Stiglitz. Chapter 1. Satyawati (M) 5. SGTB Khalsa College 6.Purohit. Chapter 3 (Sections: 3. Economics of the Public Sector.5. RLA College (E) 2. Mr. Pragya Madan.3 Public Goods: Definition. Alka Budhiraja 12. Mridula. V. Models of Efficient Allocation. Hindu College 13. Chapter 3 (pp 33 to 46): For teachers. Dr. Joseph E. Musgrave. Joseph E. Chapter 6 (excluding Appendix).4. John Cullis and Philip Jones (1998).1 to 3. shaheed Bhagat Singh College 11. LSR College 3.2010 Convenor: Prof. Harvey Rosen (2005). 5th edition. Public Finance in Theory & Practice. Shyam Lal College 10. . 2. DCAC 9. 3rd Edition. Economics of the Public Sector. LBC 4.
505—518 and 530—539) Part II: INDIAN PUBLIC FINANCES II. available at www. “Diagrammatic Exposition of a theory of Public Expenditure”.Bhujanga Rao.1 India’s Fiscal System Parthasarathi Shome (2002).3 Public Expenditure: Trends and Issues. Chakraborty and T. M. Chapter 1 II. Harvey Rosen (2005). Chapter 13. R. 249—257). I. 2. Jha (2010). Govinda Rao (2005). India’s Fiscal Matters. 4. Chapter 23.Srivastava. 234—242). 20 (pp. Modern Public Economics 2 nd Edition.A. Property Rights.nic. Mahesh Purohit (2009).K. Musgrave. Indranil Bhattacharyya and Jai Chander: Public Expenditure and Emerging Fiscal Policy Scenario in India. the Economic Basis of Decentralization 1.3 (Pp. pp 35-38. Public Finance. Vol. 37. Dhritidyuti Bose. Journal of Asian Economics. 2. M. Musgrave (1957): Theory of Public Finance. Economics of the Public Sector. September 12. 2/2009 (Available at DSE). Taxes versus Regulation. 2 and 5. Subsidies in India 1. P. Dead Weight Loss and Distortion. “Direct Tax Code: Need for Greater Reflection. chapter 4. 3rd Edition. Chapter 19. Chapter 20 (Pp. R. Optimal Taxation.S. bancaditalia.” Economic and Political Weekly. Value Added Tax: Experiences of India and Other Countries. R.36 3. National Institute of Public Finance and Policy. D. Pp. Joseph E. “Tax System Reform in India: Achievements and Challenges Ahead. Public Finance. 350—356: For Teachers I. Efficiency and Equity Considerations. Issue 6. Vol.5 Taxation: Its Economic Effects. 16. Mahesh Purohit (2007). 73-80) 2. Kavita Rao (2009). pp 993 to 1011. section C (pp. Public Finance in Theory & Practice 5th edition. Ranjit Kumar Pattnaik.in/reports/sereport/sereporf. Chapters 1. Foundation for Public Economics and Poilcy Research (FPEPR). Chapter 15 (pp. Chapters 1. March 2003.6 Fiscal Federalism. Govinda Rao.B. I. 2009. Stiglitz. 3. Budgetary Subsidies in India: Subsidising Social and Economic Services. 1.4 Externalities: The Problem and its Solutions. 550 to 562). Musgrave and P. Chapter 5.525-528) 2. working Paper No.2 Tax System: Structure and Reform 1. II. Conference Proceedings of Banca d Italia workshop on Public Expenditure. Paul Samuelson (1955). Chapter 14 (pp.Rangamannar. Review of Economics and Statistics. Available at Planning Commission website: http://planningcommission.htm .1—23. 3. Tax Incidence. C. Section 23. “A Road Map for GST”. R. the Coase Theorem Harvey Rosen (2005).it.
M. Amrita Dhillon.353-357. There would be 4 lectures and 1 tutorial per week for the Public Economics course.3 and Policy Options). Raja J. in Kaushik Basu and A. . Chelliah (1993): The Meaning and Significance of Fiscal Deficit.4 Budget.S economy to be de-emphasized. in Amresh Bagchi (edt. “The Oxford Companion to Economics in India”. December 2004. Chapter 3: Issues and Approach and Chapter 9: Summary and Recommendations.5 Fiscal Federalism in India 1.37 3. OUP. “Readings in Public Finance”. Report of the 13 th Finance Commission. “Changing Contours of Federal Fiscal Arrangements in India”. II. 2010-15. 3. Amaresh Bagchi (ed).in. Ministry of Finance. Deficits and Public Debt 1. Note on Teaching: 1.nic.nic. 2005. Government Budgeting in India. “Fiscal Federalism”. 2. Sury (1990).).K. Rangarajan and D. 2. Pp. Economic Survey (latest). GOI : Central Government Subsidies in India.2. refer to Govt. Report prepared with NIPFP assistance. pages 147-148.in/TFC/index. Government of India. July2. Srivastava. Govinda Rao (2005). Available at: http://finmin. Available at: http://indiabudget. C. Ministry of Finance. M.M. 3. Chapter1 and 2. Maertens (edt. For latest development trends.). of India. Readings in Public Finance. pp 2919-2924 and 2931-2933 (only sections 1.html Note on Examination Pattern: Part I: Public Economics Theory: (20 Marks): Two questions out of four of 10 marks each. “Fiscal Deficit and Government Debt: Implications for Growth and Stabilization” Economic and Political Weekly. II. 2. Part II: Indian Public Finance: (18 Marks): Two questions out of four of 9 marks each. Chapter 2. 3. All examples and case studies pertaining to the U.
1 (Background readings for teachers: Angus Maddison (1991). M (1995) Soviet Economic Development Since 1917. 1. Chs 1 and 10. Economic History of Britain Since 1700.Britain. Yale University Press. Structure & Spread. (2nd ed) Ch.13.O’Brien (1986). 1 and 3) . XV. ‘Do we have a Typology for the Study of European Industrialization in the XIXth Century?’. U. Modern Economic Growth: Rate. Dynamic Forces in Capitalist Development. The reading list for the year 2009-10 remains valid for the year 2010-11. Oxford University Press. II. P.38 Department of Economics Delhi School of economics Course No. Harper & Row (3rd ed) Chs. Comparative Economic Development Convenor: Prof. Chs. 3. Ch.1 2.. A Long-Run Comparative View. Hobsbawm (1968). Floud and McCloskey (ed) (1981). USSR: Paul R Gregory and Robert C.291-333. pp. Germany. Economic Backwardness in Historical Perspective. Chs. Journal of European Economic History.a brief discussion of Kuznets' findings (b) Gerschenkron's hypothesis of Economic Development in Historical Perspective Readings: 1. Britain: 1. 2.Ashwini Deshpande There is no change in the readings of Course 13.J. Weidenfeld & Nicholson. E.A. Gerschenkron (1969). Chs. Universal Book Stall. A. Industry and Empire: An Economic History of Britain since 1750. 1 and 5 (Reading for teachers: Dobb. Japan and USSR. Perspectives on Comparative Economic Development: (a)Features of and trends in Modern Economic Growth -. Cambridge University Press. Soviet Economic Structure and Performance.S. Harvard University Press. An overview of economic development of the countries selected for case studies -. New Delhi. “Reading List: I. to be considered for next year. Stuart (1986).K. 3 and 4. Simon Kuznets (1966).
Knut Borchardt. Harper & Row. Nakamura (1983) Economic Growth in Pre-War Japan. 10.R. (Chs 10. Tr. Japan: T. Changes in the structure of agriculture and economic development . 3. 4 . USSR Dobb. Yale University Press. (1967). Chs. New Delhi. Harcourt Brace & World Inc. The First Industrial Nation. Ch. Easterlin. Chs. 2nd edn. Chs.8. Harper & Row (3rd ed) Ch.5. An Economic History of Britain.3. by Robert A Feldman. Ch. Japan and U. 9.2. Karl Hauser. 1870 to the Present. M (1995) Soviet Economic Development Since 1917 Universal Book Stall. Weidenfeld & Nicholson. Japan T. 2nd edn. 12 Japan: Y Hayami (1975). IV. Stuart (1986).S. The First Industrial Nation. Ch.S.R. 1 and 3. 15 E.S. New Delhi. Yale University Press. USSR: Dobb. 11 and 12 (will be used both for agriculture and industry) Paul R Gregory and Robert C.J. 17001914. 1 and 2 USA Richard A. 5 and 6. Methuen Chs. Ch. Davis and Parker (1972) American Economic Growth: An economist’s History of the United States. 2. M (1995) Soviet Economic Development Since 1917 Universal Book Stall. Methuen Chs. 12. Role and pattern of industrialisation in Britain. Industry and Empire: An Economic History of Britain since 1750. Chs. An Economic History of Britain. 3 & 6. Nakamura (1983) Economic Growth in Pre-War Japan. University of Minnesota Press.39 Germany Gustav Stolper.Britain. 10. Tr. 17001914. (translated by Toni Stolper) The German Economy. 11 and 12 will be used both for agriculture and industry). A Century of Agricultural Growth in Pre-War Japan: Its Relevance to Asian Development. 1 (Overview of Growth) III. Britain: Peter Mathias (1983). 11. 2.S. Soviet Economic Structure and Performance. by Robert A Feldman. Japan and U. Hobsbawm (1968). Britain: Peter Mathias (1983).
Britain: E.40 V.Britain. Princeton University Press. Guinnane (2002) ‘ Delegated Monitors.4 (pp 76-96). Ch. 35-49. pp. 7. 3-35) VII.S.A and Japan Germany Timothy W. Davis and Parker (1972) American Economic Growth: An economist’s History of the United States. The Japanese Employment relations system. Vol. Harper & Row Ch.73-124. Labour markets and labour processes . 11. Lockwood (1966). Large and Small: Germany’s banking System. Harper & Row Chs.7 Peter Mathias (1983). 2nd edn. 9. Weidenfeld & Nicholson.J. 17001914. Ch.W. 1800 –1914’ Journal of Economic Literature. Hobsbawm (1968). 14 . Industry and Empire: An Economic History of Britain since 1750. An Economic History of Britain. XL (March 2002). Easterlin. pp. World of Labour: Further studies in the history of labour. Masahiko Aoki and Hugh Patrick (eds) The Japanese Main Bank System.J. by Robert A Feldman. Karsh and Levine (1965).10 Japan T. Yale University Press. Workers and Employees in Japan. Hobsbawm (1984). pp. The First Industrial Nation. Tr.Britain and Japan Britain: E. Methuen. USA Richard A. Chs. Japan: W. Japan and USA. Nakamura (1983) Economic Growth in Pre-War Japan. Ch. Ch. Economic Development of Japan. USA Richard A. 11 (Background reading for teachers: Ch 16 of Hobsbawm’s “Labouring Men”) Japan Okochi. Easterlin. University of Tokyo.13 VI. Ch. Expanded edition. Foreign trade and economic development -. U. (Background reading for teachers: ibid.6. Davis and Parker (1972) American Economic Growth: An economist’s History of the United States. London Weidenfeld & Nicholson. Financial institutions and economic development in Germany.
Hobsbawm (1968).12” . (Chapters 18. Davis and Parker (1972) American Economic Growth: An economist’s History of the United States. USA: Richard A. 17 Hughes and Cain (1994) American Economic History. Economic Development of Japan. Ch. Universal Book Stall. 7.. 4th Ed. HarperCollins College Publishers.Japan. Lockwood (1966). Role of the State in economic development (regulatory and developmental role) -. Chs.1. Weidenfeld & Nicholson. USA. Ch 14 Britain E. Industry and Empire: An Economic History of Britain since 1750.10. Stuart (1986). Soviet Economic Structure and Performance. W. Stanford University Press. Easterlin. M (1995) Soviet Economic Development Since 1917. Princeton University Press. Chs. New Delhi. USSR Paul R Gregory and Robert C.W. Expanded edition. MITI and the Japanese Miracle: The Growth of Industrial Policy 1925-1975.41 VIII. Harper & Row (3rd ed) Ch. Ch. 7 Dobb. Harper & Row Ch. 21 & 27 from this book should be background readings for teachers) Japan Chalmers Johnson (1982).9.J. Britain and USSR.
Ankit Singh. MLNC 10. Deepika Goel. Kamla Nehru college 16. Ajad Singh. Vandana Tulsyan.) 13. Smruti Ranjan Behera. Nita Singh. Nidhi Chand. RLA(E) 12. St. Poonam Kalra. Gita Golani. IP College 4. Ramjas College 14.42 Department of Economics Delhi School of economics Minutes of the Meetings COURSE 14: INTRODUCTORY ECONOMETRICS Date of Meeting: 9 April 2010 Chairperson: Prof. Surbhi Badhwar. Shailu Singh. SRCC 9. Malhotra. Roopali Goyanka.To review the syllabus and the reading list . Maitreyi College 3. Hansraj College 7. LSR College 5. Archana Jain. Renu Bansal. Stephen’s College 2. Dyal Singh College A meeting of teachers of this course was held with a view to achieve the following aims: . Shyam lal (Eve. Neelam J. DCAC 11.To discuss how students are responding to the course .To examine how teachers are proceeding with the teaching of the course . SPM College 8. Lokendra Kumawat. Pami Dua The following members attended: 1. Shyamlal College (M) 15. Satyawati College (E) 6.
With respect to the exam question paper. It was also felt that project work should be made compulsory in each college and hence some marks should be allocated for it. 6: 28 marks 2. 4. Marks allocation in the final exam question paper would be as in the previous year as follows: Maximum Marks: 38 Topics 1. 5 marks for home examinations and 2 marks for attendance. Dr. Similar to last year. For this purpose. . It was decided that the computer based project should be equivalent to an assignment. and hence the reading list should be updated according to the new edition. it was suggested that topics that are not explained in the chapters of the core text but are merely referred to in the exercises or footnotes accompanying them. an extra lecture. Dua. Gujarati (4th edition) was now available in the market. The internal assessment for this paper is for 12 marks which comprises 5 marks for assignments (where four assignments are to be submitted in an academic year). should not be examined in the final exam. 4.43 The issues discussed at the meeting were as follows: 1. 5. It was noted that a new edition of the core text ‘Elements of Econometrics’ by D. 2: 10 marks Topics 3. 5. 3. this year too the teachers present in the meeting almost unanimously agreed that there was a need to organize some practical classes in the individual colleges using computers to give some insight to the students about the applications related to econometric concepts. apart from the 3-lecture schedule per week was allocated for this paper on the recommendation of the Convenor.
7. 2. Ram Lal Anand (Eve.44 6. Webster) should be used as supplement. N. Lokendra Kumawat.) College Dr. . Stephens College. Poonam Kalra. can be deleted from the list since it was not a suitable reading for this course.C. it was recommended last year that the core text for the course on “Statistical Methods for Economics” (A. A sub-committee was formed to identify a substitute for A. The sub-committee also felt that ‘Statistics for Engineering and the Sciences’ by William Mendenhall and Terry Sincich. Ramjas College 8. Christopher Dougherty. St. Some minor changes were made to the reading list in the meeting which are mentioned in the table below. Nidhi Chand. CORE TEXT 1. Introduction to Econometrics. Ms. Surbhi Budhwar. A detailed reading list is also attached. The sub-committee felt that A. Since the coverage of ‘Review of Statistics' in the core text is not adequate. (Pearson Prentice Hall) which was a suggested reading for teachers last year. Gujarati and D. Essentials of Econometrics. 4th Edition. Webster can be replaced by ‘Elements of Econometrics’ by Jan Kmenta. Roopali Goyanka. Maitreyi College Dr. IP College Ms. Shyam Lal (Eve. Deepika Goel. it was reported that this book is not a satisfactory supplement and a substitute needs to be identified. Indian edition. The following members were part of the sub-committee: Ms. In this year’s meeting. OUP. Webster and to see if any other changes were required in the syllabus and the reading list. 9. . D. McGraw Hill International Edition.) College Ms. 3rd edition. Porter. An Indian reprint of the book is available in the market.
5th edition. 3rd edition. Introductory Econometrics with Applications. G. 2002. 2008. Introduction to Econometrics. recommended chapters for ‘Review of Statistics’. Jan Kmenta. (Few pages of this text are included for the students) . 2005. Elements of Econometrics. Reference Books for Teachers Reference books for teachers only are given below: 1. 4. Introductory Econometrics: A Modern Approach. Wiley publication. N. 3. D. Thomson (SOUTH-WESTERN). Basic Econometrics (4th Edition). South Western Publishing. Khosla Publishing House. Maddala. 2009.S and Kajal Lahiri. Gujarati. 2. 4th edition.45 3. Ramu Ramanathan. Indian Reprint. Tata McGraw-Hill Edition. 2004. Wooldridge Jeffrey.
Ch 3 Dougherty: Ch1. READINGS FROM CORE TEXT CHANGES FROM THE YEAR 2009-10 TOPIC 1. Testing of hypotheses Dougherty: Ch on Review (excluding Asymptotic properties & Simulation i. 3. 186-191) Classical Linear Regression Model: Two Variable Case i) 3. Gauss .5 and 6 (pp. Appendix R.Markov Theorem iii) Forecasting Gujarati: Ch 2. 154-159. (b) the bivariate case 2. tests of hypotheses and confidence intervals. pp 29–35) Kmenta: Ch 1. ii) Descriptive Aspects Properties of Least Squares estimates.46 The chapter-wise changes in the syllabus are as follows: TOPIC NO. Discussion on Partial Correlation Coefficients not to be covered 2.6) . Random Variables and Probability distributions iii) Estimation of parameters. 2. Sections from Gujarati have been changed according to the new edition. B. Chapters from Gujarati have been changed according to the new edition. 1. Recommended chapters of Jan Kmenta to replace Allen Webster for Review of Statistics. C. Nature and scope of Econometrics Gujarati: Ch 1 Gujarati: Appendix A. Review of Statistics i) ii) Descriptive statistics: (a) the univariate case.4 & 2.e. 3 .2 from Dougherty is included in the list.Ch2 (excluding 2. D 1.
i) Descriptive Aspects: Least Squares Estimation. Appendix 10A) Dougherty: Ch 3 (only sec 3.7-6. Dougherty can be referred to for dummy variables 3.Markov 4.7) Dougherty: Ch3 (excluding 3. Same as last year . 7. ii) Inclusion of irrelevant variable iii) Tests of Specification Errors Gujarati: Ch 7 (Exclude 7.5. Polynomial regression models are to be covered 1.8 is suggested along with the core text.6. For this Maddala.S and Kajal Lahiri. Partial Correlations ii) The Classical Model: Gauss .6. Proof of Gauss-Markov Theorem for multiple Gujarati: Ch 4 Ch 5.4). R and Adjusted R . Sets of Parameters iv) Forecasting.5) Ch 10 (Excluding 10. Ch 5 regressions not to be covered. Ch 6. 2. Standard Error of Estimate Standard errors of regression coefficients iii) Tests of Hypotheses: Single Parameters.4) Ch 7 (only till pp 236). Ch12 (only pp 354-362) Specification Analysis i) Omission of a relevant variable 6. MWD Test. Ch 6 (excluding 6. TOPIC READINGS FROM CORE TEXT CHANGES FROM THE YEAR 2009-10 Classical Multiple Linear Regression Model. This year it was agreed to include the LM test and Durbin-h test for testing serial correlation. G. Ramsay Test) Dougherty: Ch 6 (till pp 211) 2 2 1. i) Multicollinearity ii) Heteroscedasticity iii) Auto-correlation 9. v) Functional Forms of Regression Models. Theorem. vi) Dummy Variables Gujarati: Ch 8 Ch 9 (Excluding Violations of Classical Assumptions and Remedies 5.47 TOPIC NO.
Gauss .Markov Theorem. v) Functional Forms of Regression Models.e.4 & 2. iii) Forecasting Gujarati: Ch 2. vi) Dummy Variables Gujarati: Ch 4. Violations of Classical Assumptions and Remedies i) ii) iii) Multicollinearity Heteroscadasticity Auto-correlation Gujarati: Ch 8. i) The Classical Model: Gauss . Classical Multiple Linear Regression Model. Ch 2 (excluding 2. Classical Linear Regression Model: Two Variable Case i) ii) Descriptive Aspects Properties of Least Squares estimates. C.6. D Dougherty: Ch on Review (excluding Asymptotic properties & Simulation i. Ch 9 (Excluding 9. Standard Error of Estimate Standard errors of regression coefficients iii) Tests of Hypotheses: Single Parameters. (b) the bivariate case ii) Random Variables and Probability distributions iii) Estimation of parameters. Ch 6 (excluding 6.7) Dougherty: Ch 3 (excluding 3.5). pp. Nature and scope of Econometrics II. Partial Correlations ii) IV.4).Appendix10A) .Markov Theorem . B. tests of hypotheses and confidence intervals.48 The detailed reading list for Course 14 for the year 2010-11 is as follows: I. i) Gujarati: Ch 1 Review of Statistics Descriptive statistics: (a) the univariate case. 3 . 154-159. Ch 5.5 and 6 (pp. Ch 5 V. Sets of Parameters iv) Forecasting. Testing of hypotheses Gujarati: Appendix A. 29–35) Kmenta: Ch 1. Ch 10 (Excluding 10. R2 and Adjusted R2. Ch 3 Dougherty: Ch 1. 186-191) III.6) Descriptive Aspects: Least Squares Estimation.
S and Kajal Lahiri. Ch 6. Ramsay Test) Dougherty: Ch 6 (till p.5. Ch 12 (only pp.8 VI. G. MWD Test. Ch 7 (till p.7-6. 7. 236).49 Dougherty: Ch 3 (only sec 3. 354-362) Maddala.6. Specification Analysis i) Omission of a relevant variable ii) Inclusion of irrelevant variable iii) Tests of Specification Errors Gujarati: Ch 7 (Exclude 7.4). 211) .
MIT Press. OUP India.3. “Readings: 1.3.8 and 10.9). 2 & 3 Oz Shy: Industrial Organization: Theory and Applications.8) & 10 (excluding Sections 10. Main reference for this course will continue to be: Martin J. An Introduction to Game Theory.50 Department of Economics Delhi School of economics Course No. New Delhi.2 Normal form game in mixed strategies Osborne: Chapter 4 Extensive games with perfect information Osborne: Chapter 5.1 and 7. It was also decided that the question paper for the annual examination of this course should have an approximate weightage of various topics as per the following scheme: Normal form games Extensive form games. 6 & 7 Repeated games Osborne: Chapter 14 Games with imperfect information Osborne: Chapter 9 (excluding Sections 9. 2.15-Topics in Microeconomics Convenor:Dr. games with incomplete information and repeated games Applications in Industrial Organization About 12-15 marks About 15-18 marks About 8-10 marks” .: Sections 7. Uday Bhanu Sinha There is no change in the readings of Course -15. Osborne (2004). The final reading list as agreed upon is as follows: Normal form game in pure strategies and Illustrations: Osborne: Chapter 1. The reading list for the year 2009-10 remains valid for the year 2010-11.7 and 9.
6 and 14. (Notice however that Section 17. Partha Sen. Section 5. (ii) The Small Open Economy case in the context of Quantity Rationing (Chapter 5. especially for Ramsey infinite horizon optimal growth model and Diamond two period overlapping generations model (respectively chapter 2 and 3 in Blanchard & Fischer) .A. Section 2. (H) Economics Course 16: Topics in Macroeconomics Chairperson: Prof.2 & 17. For your ready reference last years’ minutes is reproduced below: “(a) It was decided that Heijdra and Van der Ploeg (Foundations of Modern Macroeconomics) is to remain as the main text book for the course.5. (v) The open Economy Ramsey model and the Weil model of overlapping generations framework with infinitely lived dynasties (Chapter 14. (Notice however that Section 7. sections 17.2). (b) It was agreed that the current syllabus was too long. (iv) The models of Trade Union Behaviour (entire Chapter 8). In view of this. sections 14.” .1 (The basic overlapping generations model and dynamic efficiency) remains as part of the syllabus). especially because many of the topics require the knowledge of difference/differential equations and dynamic optimization and these tools have to be taught to the students before the those topics can be covered.51 Department of Economics Delhi School of Economics Subject: B.5.2 of Heijdra-Van der Ploeg).3 (real wage rigidity and efficiency wage theory) remains as part of the syllabus).3). (iii) The Flexible wages and Market Clearing section in the context of the Labour Market Theory (Chapter 7. it was decided the syllabus would be reduced by excluding the following topics from the course: (i) The Hysteresis part in the context of Aggregate Supply and Aggregate Demand (Chapter2. (vi) Applications and Extensions of the basic Diamond-Samuelson Overlapping Generations model ( Chapter 17. but students may be referred to Blanchard and Fischer (Topics in Macroeconomic Theory) for clarification (if needed). DSE There are no changes in the syllabus or readings recommended for the year 2010-11.8 respectively).2). Section 7.
Astha Ahuja. Hindu College 7.V.Trivedi.A. DCAC 21. Pratap C. Kalindi College 13. Krishna Kumar S. College 16. Bhumika Hingorani. LSR College 3. Surbhi Badhwar. P. Shivaji College 14. Pragya Rathore.V.V. JDM College 9. JMC 24. A few minor adjustments were made in the sections to be included. Mohanty. E. 17. Anshu Chopra. the following decisions were taken in the meeting: Krugman and Obstfeld (KO). Mansi Sachdeva. Chander Kanta Gupta. Rashmi Sharma. Jyoti Chaudhary.) 5.co. C. Stephen’s College 4. RLA (E) 20. SPM College 22. Henna Sikka. Satyawati College (M) 19.D. SRCC After extensive discussions.in . Akhilesh Kr.R College 8. Shyam Lal Evening College 18.. Renu Sinha. which are indicated in the Table on the following page. Dyal Singh college 2. Ms Surbhi Badhwar remains the coordinator of the e-group for discussions during the year among teachers teaching this course. S.S. Ujjayini Roy. Hansraj College 15. 12. 8th edition (Pearson Low Price Edition). Aditya Bhattacharjea (DSE) Teachers attended: 1. K. Yadav. Singh. lalitha. College 11. remains the basic text for the coming year. Neelam Singh. Animesh Naskar.G. Chandra Goswami. N. Shyam Lal College 6. Those who would like to join should send her an email at surbhibadhwar@yahoo. St.52 Department of Economics Delhi School of economics Minutes of the Meetings Course 17: INTERNATIONAL ECONOMICS Date of Meeting: 20 April 2010 Chairperson: Prof.M.C. Madhur sethi. Samir Kr. SRCC 23. Ramjas College 10. Nirmal Ahluwalia. D. Satyawati (Eve. Manjula Singh.
carrying a total of upto 8 marks. 3. International Economics: Theory and Policy. 13. Developing Countries (KO: 8. 17). 22). Each part will have three questions. 21. 10. 4. 5) (ii) New trade theories: Economics of scale and Imperfect Competition International factor movements (KO: Chs. 15). Detailed chapter-wise comments are as follows. There would be one or two numerical questions. Changes to be introduced in 2010 are in italics. Questions can have multiple parts. (iii) International Macroeconomic Policy (KO: Chs. Krugman and Maurice Obstfeld. Roughly one-third marks may be allotted to each of the following three sections: (i) Exchange Rates and Money Market: (KO: Chs. Pearson Education. Controversies. 16. (ii) Output and exchange rate in short run and fixed exchange rate regime (KO: Chs. Part I (20 marks) will have three questions of 10 marks each. Last year’s decision is repeated below: The question paper will be divided into 2 parts (corresponding to Micro and Macro sections). . 8th edition. 19. Core Text: Paul R. Roughly one-third marks may be allotted to each of the following three sections. cutting across more than one topic. 11) Part II (18 marks) will have three questions of 9 marks each. 7) (iii) International Trade Policy: Instruments. 6.53 EXAMINATION PATTERN No changes are to be made. 18. Heckscher-Ohlin Model and Standard Trade Model (KO: Chs. Questions should not be taken directly from those in the textbook. 9. and students will have to attempt any two questions from each part. (i) Ricardian Model. Political Economy. 14.
and should also be given extra credit in the final examination for integrating this material into their answers. which we are not covering in the course. 1. others excluded for examination purposes 10. as well as all case studies. 15. 11 13. 4. 12. 8 9 Included in entirety Appendix to Ch 6 excluded Exclude pages 230-238. 2. 6. 20 3. . are excluded only for direct questions on the final exam. 637-644. 16 17 18 19 21 22 Mathematical Postscripts NB: Descriptive/historical sections indicated above. Students need to read chapters 1. wherever appropriate.students should be encouraged to read these sections for projects Appendix to Ch 9 excluded Included in entirety Included in entirety Appendix to Ch 16 excluded Exclude pages 483-486 (These pages cover section “Gold Standard”) Appendix to Ch 17 excluded Exclude pages 511-514 (Inter-war Years) Exclude pages 522-525 (External Balance Problem of the US) Included in entirety Only up to page 607 included Only pages 628-633. 2 and 12 for their understanding. 648-653 are included Only Postscript to ch. Students should be encouraged to read them for projects for internal assessment. 7. 14. 5.4 (pages 666-669) included. Ch 20 deals with EU integration.54 Chapter(s) Remarks Not included in the course for examination purposes. These pages cover 2 sections o International Trade Negotiations and Trade Policy o The Doha Disappointment -.
5.2010 The following members attended: 1.2. Reading list of 2009-10 should be used. Chapters 1. & Chrystal. 6.55 Department of Economics Delhi School of economics Minutes of the Meetings Concurrent Course: Principles of Economics Date of Meeting: 19. K.: Principles of Economics. 22-24). “TOPICS 1. Exploring the subject matter of economics Why study economics? Scope and Method of Economics. SV College Gita Golani. 3. Topics: As last year.G. DCAC Mohini Aggarwal. Exclude “Economic Data” (pp. The Economic Problem: Scarcity and Choice. 2. Maitreyi College There are no changes in the readings recommended for the year 2010-11. Microeconomics and Macroeconomics. Oxford University Press. . SPM College Priti Sahni. Reading and working with Graphs. R.E. Rajdhani College Rakhi Arora. Rajdhani College Shailaja S. Thakur. 4. Rashmi Sharma.4. 11th Edition. Positive and Normative economics. Basic Text: Lipsey.
5. Elasticity and its applications. How prices allocate resources. Fiscal policy at work – the multiplier effect. Nominal and real GDP. Monopoly. Cover only sections “What is Macroeconomics?”. Firms.103 (The Slutsky Decomposition of Income and Substitution Effects) 4.56 2. Determinants of demand and supply.17. Macroeconomic Concepts and Measurement Concepts of GDP and national income. “Why do we need Macroeconomics?”. p.8.4. Indifference Theory. “Interpreting National Income and Output Measures”. Chapters 7. “Circular Flow of Income”. “GDP.5. Market Structure Perfect competition. Firms. Chapter 5. GNI and GNP”. 3. Chapter 15. Supply and Demand: Markets and Prices Markets and Competition. Controls on Prices. 6. 7.. Exclude Box 5. Chapters 16. Cost and Profits The Production Process. Chapter 6. Costs and Output decisions in the short and the long run. Income and Substitution Effects. but include the section on government intervention on markets.What Determines Demand Marginal Utility Theory. The Simple Keynesian Model Aggregate expenditure and equilibrium output. Chapters 3. Exclude pp57-61. .
2 excluding Economics ‘Economic Data’ pp 22-24. 610-616 only. Cover the following sections: “The Demand for Money”. LC 10: Chs. 5. but include in markets. LC 10: Chs. 10. The Demand for Money. p 119 (Slutsky Decomposition) Decomposition) 4 Firms. Exclude section on Problems of Agriculture. 1.57 8. Cover the following sections: “The Nature of Money”. p. . “The Origins of Money”. International Trade Gains from Trade.4. Monetary Policy. 77-83. 2 Excluding ‘Economic data’ pp 19-21 and ‘measuring marginal values’ pp 28-31) 2 Supply and Demand: Markets LC 11: Chs. Money and Monetary Institutions The nature of money. 1. section on govt intervention in markets. Exclude Prices section on govt intervention pp. Cost and Profits LC 11: Ch. 5 Market Structure LC 11: Chs. Cover pp. 87 – 90. 3. but include LC10: Chs. Chapter 27. “The Ratios Approach to the Creation of Money” (excluding the general case of deposit creation and Figure 27.11 . Exclude Box LC 10: Chs. 9. Exclude 5.4 Exclude and pp 57-61.5. 144-147.9 Exclude section on Isoquants pp. 6. Concordance Between Lipsey & Chrystal 11th Edition and 10th Edition Topic Topic Readings with Lipsey 11e Equivalent Lipsey 10e No 1 Exploring the subject matter of LC 11: Chs.4.7. 3. 8.5. 7. Chapter 20. Terms of Trade. pp. “Monetary Forces and Aggregate Demand” (excluding the “Accelerator Theory of Investment”). 6. 3 What Determines Demand LC 11: Ch. credit creation. Chapter 21.1). 103 (Slutsky Box 7.8 LC 10: Chs.
Sections on Institutions (contd) LC 11: Ch 21. pp. GNP’. Sections on ‘The Origins of Money’. K. GNI.17 LC 10: Chs. we need macroeconomics’. (Exclude Accelerator (Exclude Accelerator Theory of Investment) Theory of Investment) International Trade LC 11: Ch 27.58 6 7 8 9 Macroeconomic Concepts and LC 10: Ch. ‘The Ratios Approach to ‘The Origins of Money’. ‘GDP. 27. 15 . on ‘What is ‘Why do we need Macroeconomics’. ‘Interpreting National and ‘Interpreting National Income and Output Income and Output Measures’ Measures’ The Simple Keynesian Model LC 11: Chs. 16. 609-15 only only Readings: LC – Lipsey. GNI. pp 610-16 LC 10: Ch 33. 21. Monetary Forces and Monetary Forces and Aggregate Demand’.1) of deposit creation and Fig. ‘Why do macroeconomics’. ‘The Nature of Money’. LC 10: Ch.E.24 Money and Monetary LC 11: Ch. and Chrystal. (Excluding the general case 20. Creation of Money’ ‘The Ratios Approach to (Excluding the general case Creation of Money’ of deposit creation and Fig. Principles of Economics. Sections on ‘Demand for Money’. 27. Sections on Measurement LC 11: Ch. 10 th or 11 th Edition (OUP)” . Sections on Institutions ‘The Nature of Money’. Aggregate Demand’.G. ‘Demand for Money’. and ‘Circular Flow of Income’. ‘Circular Flow ‘GDP. R. GNP’. 23. 20. Sections ‘What is Macroeconomics’.1) Money and Monetary LC 10: Ch 28. of Income’.
K. R. Taneja Aniruddha Prasad Manjul Singh Shri Ram College of Commerce Shyama Prasad Mukerjee College College of Vocational Studies Sri Venkateshwara College Hansraj College Rajdhani College L. As always. In a nutshell. So. (Hons) Economics. College Dyal Singh College Ramlal Anand College Satyawati College Satyawati College 1. (2) The set of such applications is open-ended and left to the discretion of the instructor. Since there is no prescribed common set of applications. all students need not have studied all applications. Shah Date of meeting: April 23. 1 . A.Department of Economics University of Delhi Minutes of Meeting Subject: B. Anita Mathur Geeta Golani Anu Satyal Suchismita Sinha Ray Divya Gupta Enakshi Sinha Ray Neelam Malhotra Sanjeev Kumar S. 2010 The following teachers from the Colleges attended the meeting. there was discussion regarding the nature of this course. (3) Examinations can include questions related to pure mathematics and economic applications. but the applications-based questions have to be carefully framed. S. This freedom to interpret the needs of the students and ﬁnd better means for teaching the mathematical ideas covered by the syllabus is an essential aspect of creative pedagogy. Course 02: Mathematical Methods for Economics Chairperson: Sudhir A. please see the attached Minutes of the 2005 meeting. three points emerge: (1) This is a mathematics course with economics applications used to illustrate techniques. questions based on economic applications should be framed with great care and be speciﬁed in suﬃcient mathematical detail that even the students who have not studied that particular application can answer the question based purely on their knowledge of the mathematics taught in this course. As a reminder.
and there is substantial latitude for variation of weights in examinations. With respect to the examinations. it is not ﬁxed. may I remind everyone that we are a university. 2 .2. please see the attached Minutes of the 2005 meeting. Adherence to the syllabus and academic prudence are the only constraints on the pattern. not strangled by an ever-tightening straitjacket of black-and-white inclusions and exclusions of course-material and examination questions. Attention is drawn to the following points: (a) The weight distribution of diﬀerent parts of the syllabus is indicative. Our school system has been broken by excessive regimentation and fully routinized and mechanical pedagogy. teaching and examinations should be creative. Our courses. On a personal note. (b) There is no set pattern for the examination. It can vary every year. I hope we want to educate students to be more than mere exam-takers. not a coaching academy.
2005 The following teachers from the Colleges attended the meeting. (Hons) Economics. S. College Dyal Singh College S. C. Asha Kashyap Malabika Pal Rajiv Jha Geeta Golani A. Janki Devi Memorial College D. August 24. A. G. Vijaykumar Surbhi Badhwar A. P. G. C. Lamba Chandan Singh Indu Choudhary Savitri Sidana Pradip Kumar Biswas M. Khalsa College Hansraj College Motilal College Zakir Hussain College Maitreyi College Zakir Hussain College Rajdhani College I. A. G.M. C. Course 02: Mathematical Methods for Economics Chairperson: Sudhir A. S. C. College L.Department of Economics University of Delhi Minutes of Meeting Subject: B. R. Quisar Raja Aruna Saluja Pawan Kumar Raushan Kumar Anindita Roy Saha Shashi Balagarg Sandhya Varshney Harpreet Kaur Shalini Saksena Vandana Narender Thakur Lakhshmibai College Miranda House Shri Ram College of Commerce Shyama Prasad Mukerjee College Ramjas College Shyam Lal College (Eve) Deshbandhu College (Eve) Hindu College Kalindi College Atmaram Sanatandharam College College of Vocational Studies Sri Venkateshwara College S. B. S. Shah Date of meeting: Tuesday. C. D. A. T. Wadhwa Richa Suri Shirin Akhter S. C. 1 . Padmasuresh Jasneet K.
The following decisions are to be noted. Jha Ramlal Anand College (Eve) Shri Ram College of Commerce Report: A Common Minimum Program 1. (a) This is not a “Mathematical Economics” course. the evaluation of “diﬃculty” is best left to the prudence and academic judgement of the examiner within the institutional context of examination-setting. but to transmit the body of basic mathematics that enables the creation of economic theory in general. as speciﬁed below. The intention is not to transmit any particular body of economic theory. However. (c) There is no presumption that examination questions will/can be chosen only from the prescribed textbooks. but on the basis of their appropriateness for illustrating particular aspects of mathematical techniques being taught in this course. (a) Sydsaeter and Hammond is to serve as the reference textbook for notifying excluded material. A pedagogical corollary of this attitude is that economic applications should be chosen as illustrations. rather than the mastering of any particular set of economic applications. There was discussion regarding the prescribed textbooks for the course. not on the basis of their “importance” or “relevance” in economic doctrine. 2. if pedagogical relevance and substantive doctrinal importance coincide in some application. (Of course. There was discussion regarding the nature of this course and the points of departure from the old course. The following clariﬁcations emerged in the discussion. but the means for illustrating the method of applying mathematical techniques to economic theory in general. or their combinations. are applicable and useful. (b) The two prescribed textbooks serve to deﬁne the level of sophistication of material to be transmitted to students and the problems contained therein indicate the level of diﬃculty of questions that may be asked in examinations. particular economic models are not the ends.Harish Dhawan Avinash K. the examiner should ensure that the level of diﬃculty is at par with the diﬃculty of problems in the textbooks. In this course. but a “Mathematical Methods for Economics” course. (d) Instructors should feel free to draw upon any appropriate supplementary sources for problems and material that they feel is handled inadequately or poorly in the prescribed 2 . then covering such a Pareto superior application is recommended. (b) Stress should be placed on learning mathematical theorems and techniques and recognizing classes of applications where particular theorems and techniques.) Classroom instruction should stress the understanding and skill in the application of mathematical theorems and techniques.
The examiner may assume that students are mathematically sophisticated at a level indicated by this course. 3 . (f) Economic applications available in the textbooks and covered in class should not be assumed to be an exhaustive list of potential applications that may be used for framing examination questions. instructors and students are warned that past examinations for the old course should not be seen as being indicative of the nature. (c) Proofs of propositions that are relatively straightforward may be asked in the examinations. questions should not be such as to allow mere regurgitation of theorems proved in the textbook and memorized by the students. Part 2 (25%). Part 3 (25%) and Part 4 (40%). The examiner shall have latitude to make academically prudent changes subject to the above-mentioned weightage guidelines. not leave it implicit. However. (g) There should be no presumption that a particular pattern or style of the examination will be replicated from year to year. scope or style of examinations for this course.g.textbooks. e.. (d) Examiners should avoid questions whose solution involve mere memorization of formulae and computation. 3. but there should be no presumption of economic sophistication or knowledge of economic doctrine beyond what is taught in the Principles course. Ideal questions should test the student’s ability to understand and correctly apply theorems proved in the textbooks rather than merely reproduce their proofs. the weight for Part 4 can vary between 30% and 50%. (b) Final examinations are expected to adhere to the following weights attached to the four main components of the course: Part 1 (10%). The following points were salient. These guidelines are not ironclad and the weight for any particular Part can vary by upto 10%. Such questions should explicitly state the mathematical structure required to derive the answer. (e) Questions may require students to apply techniques learned in this course to applications drawn from economic theory. assuming that students will be aware of the economic model in question and the assumptions underlying it. There was discussion regarding the nature of examinations for this course. However. such questions should be framed with great care. (a) Given the signiﬁcant change of emphasis relative to the old course.
2002. 11 (pages 320-373) Section 13.1 (pages 436-438). 14.) The multiple equality constraints case (pages 672-673) Sections 18. C. (However. 4 .) Sections 14. (Reprint of 1st 1995 ed. Hammond. is excluded from the teaching and examination requirements for this course. McGraw-Hill. 14. K. By implication.7 (pages 208-213) Chapters 10.6 (pages 476-488) Example 15. 18.9 (pages 531-536) Proof of Leibniz’s formula (page 547). Section 6. the statement of Theorem 18. and P. corresponding problems are also eliminated.8. (However.4. the statement is to be done and its use illustrated.) Chiang.5..10 (pages 682-703) Chapters 19. 18. as speciﬁed below in terms of sections from Sydsaeter and Hammond.9.Excluded material from Sydsaeter and Hammond The following material. the formula and its applications are to be done. 21 (pages 704-802) References Sydsaeter. all other material from this textbook should be taught by instructors and prepared for examinations by students. Mathematics for Economic Analysis.3 (pages 662-666). A. Fundamental Methods of Mathematical Economics.3 (pages 429-432) Proof of Theorem 13. 3rd ed. (However. 20. Delhi.27 (pages 524-526) Section 15. Pearson Educational Asia. J.) Continuous version of Jensen’s inequality and applications (pages 625-627) Determinant criterion for quasi-concavity (pages 647-648) Section 18.1 on page 664 is to be done.
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