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Entrance Exam
 
 
  M.A. Programme |  Doctoral Programme
   
  Syllabus M.A. Credit Course Core Courses
 
Indian Economy
  1. Semester: I
  2. Number of Credits: 2

Preamble:

Indian Economy will be covered through two core courses of two credits each, one each in the first two semesters. It has been found that many economics students are not well informed on issues of the Indian economy. It was thought that apart from integrating applications of theoretical tools to the Indian economy within other core papers and electives, wherever possible, there should be separate treatment of perspectives on and issues relating to the Indian economy. These two courses have hence been formulated with the objective of equipping the students to meaningfully participate in the debates regarding issues and concerns about the Indian economy. The approach adopted is to go from the macro to the sectoral aspects of the economy. The first paper will hence provide a macroeconomic perspective of the economy, whereas the second one will deal with sectoral issues. The scope of the syllabi for the courses will be determined by the specified readings.

Indian Economy Paper I – Macroeconomic Perspectives

  1. Credits: 2
  2. Lectures: 24

1. Growth and Inflation (6 lectures)  National Accounts Statistics for India – GDP deflator and Measures of Inflation – Macro balances of the economy: Savings and Investment in India – Growth rates of national income: Comparisons over time and across countries, Effect of compounding on the standard of living – Sectoral composition of output and growth: Services-led growth – Regional variations in growth

2. Poverty and Human Development (6 lectures)  Measurement of poverty in India and the debate regarding extent of poverty in India – National Sample Surveys – Human development indices in India, including Gender-related Development Index, and regional variations therein – Policies of inclusive growth

3. Balance of Payments and Budgets (6 lectures)  A. Components of Balance of Payments (BOP) – Exchange rate policies in recent years – Capital inflows and Sterilized intervention in the foreign exchange market
B. Components of Recent Budgets

4. Policy Reforms (6 lectures) Fiscal Reforms: State of Fiscal Responsibility Legislations and FRBMA – Goods and Services Tax (GST) – Direct Tax Code (DTC); Centrally-sponsored schemes; Changing Stance of Monetary Policy – Monetary Targeting – Inflation Targeting – Multiple/ Lead Indicator Approach – Systemic Stability

References
1.
Rakesh Mohan, “Growth Record of the Indian Economy 1950-2008: A Story of Substantial Savings and Investment,” Chapter 26 in Uma Kapila (ed), Indian Economy since Independence, New Delhi: Academic Foundation, 2009, pp. 683-712 (Module 1)
2.
Uma Kapila, “Growth and Structural Change since 1950,” Chapter 25 in Uma Kapila (ed), Indian Economy since Independence, New Delhi: Academic Foundation, 2009, pp. 683-712 (Module 1)

3.

James Gordon and Rashmi Banga, "Understanding India’s Services Revolution," IMF Working Paper, No. 171, Washington, DC: IMF, 2004 (Module 1).
4.

4. Angus Deaton and Jean Dreze, “Poverty and Inequality in India: A Re-Examination,” Chapter 18 in Angus Deaton and Valerie Kozel (eds), The Great Indian Poverty Debate, New Delhi: Macmillan, 2005, pp.428-465. (Module 2)

5.
UNDP, Human Development Report 2009, New York: OUP, 2010.
6.
R. Radhakrishna, C.Ravi and B. Sambi Reddy (2010), “Can We Really Measure Poverty and Identify Poor When Poverty Encompasses Multiple Deprivations?” Working Paper, No. WP 02/2010, Hyderabad: Centre for Economics and Social Studies (CESS), 2010 (Module 2).

7.

Shankar Acharya, “Macroeconomic Performance and Policies, 2000-2008,” in Shankar Acharya and Rakesh Mohan (eds), India’s Economy, Performance and Challenges: Essays in Honour of Montek Singh Ahluwalia, New Delhi: OUP, 2010, pp. 39-81 (Module 3).
8.
GOI, Economic Surveys and Budget Papers, Various Recent Years (Module 3).

9.

GOI, Report of the Task Force on Implementation of GST, New Delhi, 2009 (Module 4)
10.
“Persistence of Fiscal Irresponsibility: Looking Deeper into the Provisions of FRBM Act,” Economic and Political Weekly, Vol. 44 (37), Sept 12, 2009 (Module 4).

11.

Rakesh Mohan, “India’s Financial Sector and Monetary Policy Reforms: Fostering Growth while Containing Risk,” in Shankar Acharya and Rakesh Mohan (eds), India’s Economy, Performance and Challenges: Essays in Honour of Montek Singh Ahluwalia, New Delhi: OUP, 2010, pp. 149-179 (Module 4)

12.

RBI, Annual Reports, Various Recent Years (Module 4)

Indian Economy Paper II – Sectoral Issues

Preamble:

The sectoral issues will be dealt with by teachers who are specialized in the respective sectors. Issues considered will be based on two or three readings identified by the teacher and communicated to the students at the beginning of Semester II.

  1. Credits: 2
  2. Lectures: 24

1.      Agriculture (4 lectures)

2.      Industry and Infrastructure (4 lectures)

3.      Services Sector (4 lectures)

4.      Financial Sector (4 lectures)

5.      External Sector: International Trade (4 lectures)

6.      Informal Sector and Labour Markets (4 lectures)

 
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