Revised Syllabus of F.Y.B.A. Economics

Course Structure

Course Description

E-101: Microeconomic Theory I

This course introduces students to the fundamental concepts of microeconomics. It begins with the nature and scope of economics, followed by detailed analysis of consumer behavior, production theory, and market structures. Students will learn about utility analysis, indifference curves, budget constraints, and theory of the firm.

Unit 1: Introduction to Economics

• Definition, scope, and importance of economics
• Microeconomics vs. Macroeconomics
• Positive vs. Normative economics
• Basic economic problems and opportunity cost
• Production possibility frontier

Unit 2: Consumer Behavior

• Cardinal utility analysis
• Ordinal utility analysis
• Indifference curves and budget constraints
• Consumer equilibrium
• Income and substitution effects
• Revealed preference theory

Unit 3: Production Theory

• Production function
• Laws of production: Returns to scale
• Economies and diseconomies of scale
• Production function with one and two variable inputs
• Isoquants and isocost lines

Unit 4: Market Structures

• Perfect competition
• Monopoly
• Monopolistic competition
• Oligopoly
• Price determination under different market structures

E-102: Macroeconomic Theory I

This course provides a comprehensive introduction to macroeconomic concepts, principles, and policies. It covers national income accounting, consumption and investment functions, monetary and fiscal policy, and international macroeconomics.

Unit 1: Introduction to Macroeconomics

• Scope and importance of macroeconomics
• Macroeconomic variables and their measurement
• Circular flow of income
• Classical vs. Keynesian economics

Unit 2: National Income

• Concepts of national income
• Measurement of national income
• Difficulties in measurement
• Uses of national income analysis

Unit 3: Consumption and Investment Functions

• The consumption function
• Propensity to consume and save
• Investment determinants
• Multiplier and accelerator

Unit 4: Money and Banking

• Functions of money
• Money supply and demand
• Commercial banking
• Central banking

Unit 5: International Trade

• Principles of international trade
• Balance of payments
• Exchange rate systems
• Trade policies

E-103: Indian Economy I

This course focuses on the structure, performance, and policy challenges of the Indian economy. It covers the economic history of India, planning and development, major sectors, and contemporary economic issues.

Unit 1: Economic Development in India

• Pre-independence economic structure
• Post-independence planning and development
• Economic reforms and liberalization
• Growth and structural change

Unit 2: Population and Human Resources

• Demographic trends
• Population growth and economic development
• Employment and unemployment
• Human development indicators

Unit 3: Agriculture Sector

• Role and importance of agriculture
• Agricultural productivity and production
• Land reforms and agricultural policies
• Green Revolution and its impact
• Problems and challenges in agriculture

Unit 4: Industry and Services

• Industrial development in India
• Industrial policy and liberalization
• Small-scale industries
• Services sector growth
• Information technology industry

Unit 5: Poverty and Inequality

• Concepts and measurement of poverty
• Causes of poverty in India
• Poverty alleviation programs
• Income and wealth inequality
• Inclusive development initiatives

E-104: Quantitative Methods for Economics

This course equips students with essential quantitative tools and techniques used in economic analysis. It covers statistical methods, mathematical tools, and economic modeling.

Unit 1: Introduction to Statistics

• Meaning and scope of statistics in economics
• Data collection and presentation
• Tabular and graphical representation
• Frequency distributions

Unit 2: Measures of Central Tendency

• Mean, median, and mode
• Properties and applications
• Selection of appropriate measure

Unit 3: Measures of Dispersion

• Range, quartile deviation, mean deviation
• Standard deviation and variance
• Coefficient of variation
• Lorenz curve and Gini coefficient

Unit 4: Correlation and Regression

• Meaning and types of correlation
• Karl Pearson's correlation coefficient
• Rank correlation
• Simple regression analysis

Unit 5: Index Numbers

• Meaning, types, and uses of index numbers
• Methods of construction
• Consumer price index
• Limitations of index numbers

Unit 6: Elementary Mathematics for Economics

• Linear functions and graphs
• Quadratic functions and equations
• Basic calculus: derivatives and applications
• Optimization techniques

E-A1: Environmental Economics

This course introduces students to the relationship between economic activity and the environment. It covers environmental valuation, pollution control policies, sustainable development, and global environmental issues.

Unit 1: Introduction to Environmental Economics

• Definition and scope
• Environment-economy interactions
• Market failure and environmental problems
• Concepts of externalities

Unit 2: Environmental Valuation

• Methods of environmental valuation
• Cost-benefit analysis
• Contingent valuation method
• Hedonic pricing method

Unit 3: Pollution and Control

• Types of pollution
• Social costs of pollution
• Regulatory instruments
• Market-based approaches

Unit 4: Sustainable Development

• Concept and principles
• Measurement of sustainable development
• Global environmental agreements
• Climate change economics

E-A2: Introduction to Development Economics

This course provides an introduction to the theories and concepts of development economics. It covers major development theories, development indicators, development strategies, and issues affecting developing countries.

Unit 1: Concepts and Indicators of Development

• Definition of development
• Growth vs. development
• Development indicators
• Human development index

Unit 2: Theories of Development

• Classical and neoclassical growth theories
• Structural change models
• Dual-sector models
• Dependency theories
• Endogenous growth theory

Unit 3: Development Strategy

• Agricultural versus industrial development
• Import substitution vs. export promotion
• Role of foreign aid and investment
• Planning and market approaches

Unit 4: Issues in Development

• Poverty and inequality
• Population and development
• Education and health
• Gender and development
• Development and environment

Recommended Textbooks

Microeconomics

• Varian, H. R. (2014). Intermediate Microeconomics: A Modern Approach. W. W. Norton & Company.
• Pindyck, R. S., & Rubinfeld, D. L. (2013). Microeconomics. Pearson Education.
• Koutsoyiannis, A. (2013). Modern Microeconomics. Palgrave Macmillan.

Macroeconomics

• Mankiw, N. G. (2020). Macroeconomics. Worth Publishers.
• Dornbusch, R., Fischer, S., & Startz, R. (2018). Macroeconomics. McGraw-Hill Education.
• Ackley, G. (2015). Macroeconomics: Theory and Policy. Macmillan.

Indian Economy

• Datt, R., & Sundharam, K. P. M. (2022). Indian Economy. McGraw Hill Education.
• Mishra, P., & Puri, V. K. (2020). Indian Economy. Himalaya Publishing House.
• Bhatia, B. L. (2021). Indian Economy. Vikas Publishing House.

Quantitative Methods

• Koutsoyiannis, A. (2019). Mathematics for Economists. Macmillan.
• Chiang, A. C., & Wainwright, K. (2005). Fundamental Methods of Mathematical Economics. McGraw-Hill.
• Gupta, S. C. (2020). Fundamentals of Statistics. Himalaya Publishing House.

Environmental Economics

• Tietenberg, T., & Lewis, L. (2018). Environmental and Natural Resource Economics. Routledge.
• Field, B. C., & Field, M. K. (2019). Environmental Economics: An Introduction. McGraw-Hill Education.
• Kolstad, C. D. (2011). Environmental Economics. Oxford University Press.

Development Economics

• Ray, D. (2020). Development Economics. Princeton University Press.
• Thirlwall, A. P. (2013). Growth and Development. Palgrave Macmillan.
• Deaton, A. (2013). The Great Escape: Health, Wealth, and the Origins of Inequality. Princeton University Press.

Assessment Pattern

Teaching Methodology

The revised syllabus incorporates diverse teaching methods to enhance student learning and engagement:

• Interactive lectures supplemented with multimedia presentations
• Case study discussions and analysis
• Group projects and presentations
• Data analysis workshops using statistical software
• Seminars by industry experts and economists
• Field visits to relevant economic institutions

Learning Outcomes

Upon successful completion of this syllabus, students will be able to:

• Demonstrate an understanding of fundamental economic concepts and theories
• Analyze economic problems using appropriate analytical frameworks
• Interpret economic data and apply quantitative techniques
• Understand the structure and functioning of the Indian economy
• Explain contemporary economic issues and policy debates
• Apply economic principles to real-world situations
• Develop critical thinking skills for economic analysis