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M.A. Programme | Doctoral Programme |
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Syllabus M.A. Credit Course Electives
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- Semester: III/IV.
- Number of credits: 4
- Standard Evaluation Method
Preamble
The objective of the course is to bring an understanding of economics of services. The course deals with various microeconomic and macroeconomic aspects of the service economy. The course includes empirical studies on trade in services and macroeconomic dynamics in services sector growth in India. The discussion on sectoral and sub-sectoral services would be in formal-informal sector perspective wherever applicable.
Module I: Introduction to Economics of Services (12 Lectures)
Concept of service- Attributes of service, Main types of services and their classification, service-goods relationship, economic services; Rural-Urban Services-dualism.
Services Economy- Concept and its role in development.
Knowledge Economy- Concept and Characteristics, Innovation and R&D.
Theory of Unbalanced Growth, Fisher-Clark hypothesis, Fuchs model of inter-sectoral shift in employment, Gemmell’s extension of Fuchs’ model, Neo-Industrial Theory of Self-Services.
Module II: Value and Pricing of Services and Measurement of Service Output (12 lectures)
Calculation of the value of a service product, definition of a unit of service, characteristics of non-market services.
Service production and distribution costs, the basic trade-off and derivation of the supply-system cost function, optimal charges for services.
The provision of services in a market economy, Fee- price of service, Subscription Business Model.
Measurement of output and productivity in the services sector; issues and measures.
Module III: Trade in Services (12 lectures)
Characteristics of Trade in Services- Melvin Approach to Trade in Services, Jones and Ruane theory of trade in services; Barriers to trade in services and Methods to measure them; World trade in Services- General Agreement on Trade in Services (GATS); India’s trade policy and Trade in Services.
Module IV: Services Sector in India (12 lectures)
Dynamics of services sector growth in India, Three-sector hypothesis and India, Role of service sector in Indian Economy, Decomposition of Services sector growth in India and its implications. Employment in Services Sector- a gender perspective. Business Services, Telecommunications, Tourism, IT and ITES in India. FDI in services. Public Policy and services- Service Tax in India, Goods and Service Tax. Public Private Partnerships in Services.
References
1. |
Akehurst, G. and Gadrey, J. (1988). The Economics of Services, Routledge (Module I and II) |
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2. |
Chanda, R. (2006). Trade in Services and India: Prospects and Strategies, Wiley India, 2006 (Module III) |
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3. |
Chanda, R. (2002). Globalization of Services: India's Opportunities and Constraints, Oxford University Press, New Delhi, 2002. (Module III) |
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4. |
Jansson, J. O. (2006). The Economics of Services, Development and Policy, Edward Elgar Publishing, (Module I and II) |
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5. |
Economic Census of India (Latest) |
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Additional Readings
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1. |
Baumol, W.J., Blackman, S.A. Batey and Wolff, E.N. (1985). Unbalanced Growth Revisited: Asymptotic Stagnancy and New Evidence. American Economic Review 75:806-17. |
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2. |
Fuchs, V. (1980). Economic Growth and the Rise of Service Employment, Prepared for conference Towards Explaining Economic Growth, Institute of World Economics,
Kiel, Federal Republic of Germany.
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3. |
Glasmeier, A. and Howland, M. (1994). Service-led Rural Development: Definitions, Theories and Empirical Evidence, International Regional Science Review, 16, 197-229. |
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4. |
Gordon, J. and Gupta, P. (2004). Understanding India’s Services Revolution, IMF Working Paper WP/04/171, September |
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5. |
Hindley, B. and Smith, A. (1984). Comparative Advantage and Trade in Services, World-Economy, December, 7(4), 369-89. |
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6. |
Matoo, A., Rathindran, R. and Subramanian, A. (2001). Measuring Services Trade Liberalization and Its impact on Economic Growth: An Illustration. Policy Research Working Papers. No.2655, The World Bank, Washington, D.C. |
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7. |
Melvin, J. R. (1989). Trade in Producer Services: A Heckscher-Ohlin Approach, Journal of Political Economy, 97(5), October, 1180-1196 |
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8. |
Seth, V. K. (2007). Economics of Services, Ane Books India, 2007 |
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9. |
Triplett, J. E. and Bosworth, B. P. ( 2001). Productivity in the Services Sector. In R. M. Stern, ed., Services in the International Economy. Ann Arbor: University of Michigan Press. |
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Core Courses | Electives |
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Contact: Department of Economics, University of Mumbai, Ranade Bhavan, Third Floor, Vidyanagari, Kalina, Mumbai 400 098. |
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Tel Nos. Office (Direct) 91-22-26526942, Office (Board) 91-22-26526388, 91-22-6526091 ext. 332, 335 and 333. Director (Direct) 91-22-26528198 |
© University of Mumbai 2008. All Rights Reserved. |
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