COURSE DESCRIPTION


B.A. Economics or Bachelor of Arts in Economics is an undergraduate Economics course. Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The curriculum comprising the areas such as definition, nature, scope, concepts, utility, production, market, monopoly and other minor or major aspects of Economics. B.A. in Economics is generally three academic years and may be provided on part time basis by certain institutes. The course has semester system based and it is career orienting in nature that provides many jobs for them.


B.A. Economics Eligibility

  • The candidates should complete their 10+2 or its equivalent exam from a recognised Board.
  • In many reputed colleges there is an entrance exam or percentage of 12th class for the admission of students.

B.A. Economics Course Suitability

  • Those who are willing to go for teaching fields at higher degree level i.e. college and university level both in private and government institutions.
  • They should have skills like communication, numeracy, problem-solving, computing, time management and analytical skills.
  • Candidates should also possess a logical and analytical bent of mind, numerical ability, an interest in current social and political activities.
  • They should also have sincerity, commitment and devotion; an interest in problem solving, a high level of patience, with a positive and optimistic attitude.

How is B.A. Economics Course Beneficial?

  • This degree course enables the students to go in various commerce and banking related jobs.
  • One can go for higher degree programs in respective subjects such as M.A. in Economics.
  • The Indian Economic Service and Reserve Bank of India are excellent options open to those who want to join government services after it.
  • They are placed in the Planning Commission, Planning Board, Ministry of Economic Affairs, National Sample Survey and other departments that need specialists in economics.

COURSE ELIGIBILITY


The candidates should complete their 10+2 or its equivalent exam from a recognized Board.
  • B.A. Economics Syllabus

    Syllabus of Economics as prescribed by various Universities and Colleges.

       Sem. I (Paper I) B.A. Part I

    Sr. No.

    Subjects of Study

    Unit I

    Evolution and definition of Economics, Nature & Scope of Economics. Methods of Economics Analysis, Inductive & Deductive Logic, Merit and Demerits.

    Unit II

    Basic Concepts: Utility Demand, Supply, Commodity and their types, Value and Price, Market, Administered and Non- Administered Prices. Demand Supply equilibrium.

    Unit III

    Utility: Cardinal (Marshal) and Ordinal Utility Approaches to Demand. Indifference Curve: Consumer equilibrium (Hichs & Slutsky) Price, Income and Substitution effects. Derivation of Demand Curve.

    Unit IV

    Elasticity of Demand, Price, Income and Cross elasticity, Consumer Surplus and its measurement.

    Unit V

    Production: Factors of Production and their Characteristics; Laws of Production Returns to Factor and Return to Scale, Law of Variable Proportion. Isoquants Nature and their Characteristics, Producers equilibrium.

       Sem. II (Paper I) B.A. Part I

    Unit I

    Economies of Scale, Deferent Concepts of Costs Explicit & Implicit, Accounting, Opportunity, Total fixed and Variable Costs, Marginal & Average Costs & its Relationship. Concept of Revenue Total, Marginal & Average Revenue and Break Even Point g.

    Unit II

    Market: Concept and Classification, Perfect Competition Characteristics, Price and Output Determination for Firm and Industry, Market Equilibrium.

    Unit III

    Monopoly: Characteristics and Price- Output Determination, Price Discrimination. Monopolistic Competition: Characteristics Price- Output Determination.

    Unit IV

    Factor Pricing: Theory of Marginal Productivity of Distribution. Concept of Adding up Theorem. Theories of Wages and Rent: Classical and Modern.

    Unit V

    Interest: Concept, Classical and Keynesian Theories of Interest. Profit: Net and Gross. Theories of Profit.

       Sem. II (Paper I) B.A. Part I

    Unit I

    Structure of Indian Economy - Primary, Secondary & Tertiary Sectors. Basic features: Natural Resources, Land, Water, Forest and Mineral Resources.

    Unit II

    Demographic Features (As per Census 2001): Population, Size, Sex, Rural- Urban Classification, Population Distribution, Recent National Population Policy.

    Unit III

    Agriculture: Nature and Importance. Land Use Pattern. Trends in agriculture Production and Productivity, Cropping Pattern.

    Unit IV

    Land Reforms: Green Revolution, Rural Credit, Agricultural Marketing, Mechanization.

    Unit V

    Small Scale and Cottage Industries- Meaning, Importance and Problems. Major Industries in India: Iron and Steel, Textile, Sugar, Cement, Automobiles.

       Sem. II (Paper II) B.A. Part I

    Unit I

    Infrastructure of Indian Economy: Irrigation, Power, Transport, Communication, Banking and Insurance.

    Unit II

    Human Infrastructure of Indian Economy- Health, Nutrition, Education, Knowledge and Skills, Housing and Sanitation.

    Unit III

    Planning in India- Objectives, Types of Planning, Strategy, Achievement & Failures, Analysis of Current Five Year Plan.

    Unit IV

    Basic Features of M.P. Economy- Land, land Utilization Pattern, Natural Resources- Forest, Water & Mineral. Agro-Climatic Zones. Demographic Features of M.P.

    Unit V

    Agricultural Situation in M.P. Economy: Cropping Pattern, Production and Productivity of Main Corps, Green Revolution, Sources of Credit in Agriculture, Irrigation. Main Courses of backwardness Agriculture in M.P.

       Sem. I (Paper I) B.A. Part II

    Unit I

    Macro Variables- Stock and Flow, Circular Flow of income in closed and Open Economy. Concept of National Income- GDP, GNP. Measurement of National Income and Social Accounting in India. National Income and Economic Welfare.

    Unit II

    Classical Theory of Employment- Says Law of Market, Keynesian Theory of Employment- Aggregate Demand and Supply Functions, Effective Demand.

    Unit III

    Consumption Function, Factor Affecting Consumption, Average and Marginal propensities to consume, Simple Investment and Govt. Expenditure Multiplier and Leakages of Multiplier.

    Unit IV

    Saving Function & Sources of Saving Mobilization: Investment Function and (MEC) Marginal Efficiency of Capital, Factors Affecting, and Capital Formation. Concept of Accelerator.

    Unit V

    Theories of Interest- Classical (Abstinence & Waiting) Neo Classical Theory, Keynesian Theory of Liquidity Preference, Liquidity Trap.

       Sem. II (Paper I) B.A. Part II

    Unit I

    Public Finance and Public Economics: Meaning, Nature and Scope. Meaning and Nature of Public, Private and Merits Goods, Market and State- Role and Functions. Principle of Maximum Social Advantage.

    Unit II

    Sources of Revenue- Taxes, Loans, Grants and Aid- Meaning and Types, Canons of Taxation.

    Unit III

    Principles of Public Expenditure, Principles of Public Debt and Methods of Redaction; Wagener’s Law- Increasing Activities. Effects of Public Expenditure on Production and Distribution.

    Unit IV

    Public Finance in India: Sources of Revenue of Central and State Government, Concept and Types of Budget, Fiscal Deficit, Deficit Financing and Deficit Budget.

    Unit V

    Constitution and Function of Finance Commission, Recommendation of Latest Finance Commission, Latest Budget of Central and M.P. Government.

       Sem. I (Paper II) B.A. Part II

    Unit I

    Money- Meaning, Functions and Classification, Stock of Money and its Measures- M1, M2, M3, M4, Quantity Theory of Money- Cash Transaction and Cash Balance Approaches.

    Unit II

    Inflation, Deflation and Recession- Definition, Causes and Effects on different Segments of population and sectors of the Economy. Types- Demand Pull and Cost Push Inflation. Measure to Control Inflation, Deflation and Recession.

    Unit III

    Bank- Meaning and Types. Central Bank and its Function with Reference to R.B.I. Credit Control- Qualitative and Quantitative Methods. Objectives and Limitations of Monetary Policy.

    Unit IV

    Functions of Commercial Bank- Meaning and Methods of Credit Creation, Recent Reforms in Banking Sectors and Cheap Money Policy.

    Unit V

    Money Market and its Instrument, Defects of Money Market in India. Role of Private Banking in India.

       Sem. I (Paper I) B.A. Part III

    Unit I

    Development & Economic Growth Economic growth and Development- Meaning, Factor’s of Development and Growth-Economic Capital, Physical and Human, Research and Development & Technology. Basic characteristics of Developing countries.

    Unit II

    Human Resource and Development Role & Importance of Human Resource Development. Factor’s of HRD, Human Development Index, Concept of stable population and Transition towards it.

    Unit III

    Theories of Development and Growth. Theories of Development- Classical Schumpeter, Rostow, Gunnar Mrydel, Harshman.

    Unit IV

    Growth Models Growth models- Harrod Domer, Mahalonabis, and Balanced Vs Unbalanced Growth Concepts of Regional Development.

    Unit V

    Basic Infrastructure as pre-condition of Growth: Power, Transport, Communication Banking and governance.

       Sem. I (Paper II) B.A. Part III

    Unit I

    Basic Concepts and Linear Algebra Concept of variable, Parameter, constant and variable functional equations, Identities and inequalities, Meaning and solution of an equation. System of simultaneous linear equation and their solution.

    Unit II

    Descriptive Statistics Basic concepts, Population, Sample, Parameter, Frequency distribution, Cumulative frequency graphical representation of Data, Techniques of data collection, Sampling vs. Population, Primary and secondary data.

    Unit III

    Measures of Central Tendencies Measures of central tendencies- Mean, Median, Mode, Geometric Mean and Harmonic Mean, Measures of dispersion: Range, Mean deviation, Standard deviation, Co-efficient of variation, Quartile Deviation.

    Unit IV

    Correlation Karl Prearson’s Co-efficient of Correlation, and Spearman’s Rank Correlation Association of Attributes.

    Unit V

    Regression analysis, fitting a Bi-variate regression equation, Interpretation of Slope, Co-efficient of regression. Use and Application of Regression.

       Sem. II (Paper I) B.A. Part III

    Unit I

    Sectoral Development-Agriculture Role and Importance of Agriculture in Indian Economy. Factors of Agricultural Development, Green Revolution. Poverty and Unemployment in India.

    Unit II

    Sectoral Development- Industry and Import Export Role and Importance of Industrialization, Organized- Large and Small & Internal Domestic Industries. Import Substitution and export-Let Growth Strategy.

    Unit III

    Planning vs. Market Dreven Economic Development. Economic Reforms in India, Privatization, Liberalization and Globalization.

    Unit IV

    Environment & Development Environmental implication of Development renewable and non renewable resources. Limits to growth and sustainable development.

    Unit V

    Environmental Degradation and Development Evaluation of Environmental damages (Land, Water, Air & Forest) & its impact on quality of life and economy.

       Sem. II (Paper II) B.A. Part III

    Unit I

    Time Series, Time Series analysis- Concept and components Additive and Multiplicative, Algorithm of Decomposition of Time Series, Methods of moving Averages.

    Unit II

    Index Numbers- Concept, Laspeyer’s, Paasche’s and Fisher’s Index numbers, Problems in the construction of Index numbers and their limitations.

    Unit III

    Probabilities: Concept, Rules of Probability (Addition and Multiplication) Conditional Probability, Binomial- Distribution.

    Unit IV

    Concept and Definition of Research Selection of Research Problems, Problems in Research in Social Sciences Types of Research.

    Unit V

    Hypothesis- Meaning & Types, Research Report Writing, Sources of Primary and Secondary Data, Development of Questionnaire and schedule. Characteristics of Good Questionnaire.

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