ETERNAL UNIVERSITY, BARU SAHIB,

HIMACHAL PRADESH
AKAL SCHOOL OF ECONOMICS
COURSE STRUCTURE & SYLLABUS FOR M.A ECONOMICS
The M.Sc. in Economics will be a four semester full time programme. The course will be organised over two
years, each year consisting of two semestersthe odd semester and the even semester. The programme of study
consist of sixteen courses out of which 14 are core coursescompulsory for all studentsand 2 are elective
courses. The students will finalise the topic for their Research Project in consultation with the advisory
committee of the concern department in the beginning of III semester. The Research Project will be of 100
marks; 70 marks for written Research project and 30 marks for viva voice. The viva voice will be conducted by
internal committee constituted by Deptt. The courses will be offered according to the following schedule:
SEMESTER-I
All Compulsory Papers:
ECON- 501 Micro Economic Theory
ECON -502 Macro Economic Theory
MATH -505Quantitative Methods
ECON -503 History of Economic Thoughts
SEMESTER-II
All Compulsory Papers:
ECON -504 Advanced Micro Economic Theory
ECON -510 Research Methods for Economics
ECON -506 Money and Banking
ECON -507 International Economics
SEMESTER-III
There will be three Compulsory Papers:
ECON -508 Indian Economy
ECON - 509Economics of Growth and Development
ECON - 505 Advanced Macro Economic Theory
Any One of the following options for Papers ECON -511
(i) Agricultural Economics
(ii) Industrial Economics
(iii) Basic Econometrics
(iv) Health Economics-I
SEMESTER-IV
There will be two Compulsory Papers and one Compulsory Research report:
ECON -512 Public Finance
ECON -513 Advanced Economics of Growth and Development
Any one of the following options for Papers ECON - 514
Note: Students who opt for Agricultural Economics, Industrial Economics, Basic Econometrics and Health
Economics-I in Semester-III will have to opt for Agricultural Marketing, Labour Economics, Advanced
Econometrics and Health Economics-II respectively in Semester-IV).
(i) Agricultural Marketing
(ii) Labour Economics
(iii) Advanced Econometrics
(iv) Health Economics-II
Edu- 101 Human Value & Professional Ethics
ECON -515 Research Project

Micro- Economic Theory (ECON -501)

UNIT-I
Central Ideas of Economics: The Scarcity Principle, the Cost-Benefit Principle, the Marginal Principle, the
Incentive Principle). The Comparative Advantage Principle, the Invisible Hand, Market Failure and Regulation
Principle).
The Conventional Wisdom Revisited: Behavioural Economics People may always not behave rationally, may
not be consistent over time and may care for fairness apart from efficiency. Three Coordination Tasks in the
Economy: Output Selection, Organizing Production, Distribution etc.
UNIT-II
Methodology of Economics as a Social Science: Need for theories, Alternative Processes of Construction and
Appraisal
of
Positive
Economic
Theories:
Extreme
A-Priorism,
Ultra
Empiricism
andPredictionism.Normative Economics: The Theory of Economic Policy. Analysis of Consumer Choice
under Certainty: Revisiting Consumer Equilibrium through Ordinal Utility Approach and derivation of
Marshallian and Compensated Demand Curves. Revealed Preference Theory and Consistency of Choice.
Empirical Estimation of Demand.
UNIT-III
Analysis of Consumer Choice under Uncertainty: Measurement of Risk. Expected Utility and Preferences
towards Risk. gamble (insure) Risk Return TradeOff. Reducing Risk. Analysis of Consumer Behaviour under
Asymmetric Information :Hidden Actions: Principals, Agents and Moral Hazard. Hidden Characteristics:
Adverse Selection Problem. Market and Government responses to the problems of Moral Hazard and Adverse
Selection. From Individual to Market Demand: 'Bandwagon' and 'Snob' Effects
UNIT-IV
Theory of Production and Costs: and Elasticity of Market Demand. Production, Input choice and cost with
one variable input. Law of Returns to variable proportions and choice of optimum quantity of an Input.
Derivation of Short Run Cost Curves from productivity curves of a variable factor of production. Reserve
Capacity and the shape of short run cost curves. Multiple Input Decisions: The choice of optimal techniques of
production and factor combinations. Factor price changes: Substitution and Output effects. Elasticity of input
substitution. Expansion Path and derivation of Long Run Cost of Production Curves. Economies and
Diseconomies of Scale. Shape of short and long run costs curves. Multi product firms and Dynamic changes in
Costs: Economies of Scope; The Learning Curve analysis.
Selected Readings:
Salvatore Dominick (2003): Microeconomics: Theory and Applications, 4th. Edition, Oxford Univ. Press.
Pindyck, Robert S., Rubinfeld : Micro-Economics, Prentice Hall of India, New Delhi.
Koutsoyiannis, A. (Latest) : Modern Micro Economics, McMillan Press, London.
Briet, W and Hochman, H M (Ed.), Readings in Micro Economics, Dryden Press, Hindsala, illinos
Mankiw Gregory N (1968) Principles of Economics; 3rd Edition, Thomson; 3rd Indian Reprint (2007)
Boumol, William J and Blinder Alan S (2005) Microeconomics; Principles and Policy9th Edition, Thomson, 1st
Indian Edition (2007).
Maddala, G S and Millelr Ellen (1989) Micro Economics: Theory and Applications. Tata McGraw-Hill (Edition
2004)
Hall R Varian (Latest) Intermediate microeconomics 7th. Edition Amazon Publication

Macro-Economic Theory (ECON -502)

UNIT-I
Micro Foundations of Macro Economics: The classical and The Keynesian model of income and employment
determination. Multiplier process and the different concepts of multiplier; Macro-Economic Theories of
Consumption: Keynesian theory; Relative income, Permanent income, and Life cycle income hypotheses
Consumption under Uncertainty Modern approach.
UNIT-II
Macro-Economic Theories of Investment: The Classical, Keynesian, New-Keynesian, Post keynesian and the
financial theory of investment. Lags in investment. Portfolio disequilibrium and the transmission mechanism.
Accelerator Theory and Tobins Q Theory of Investment.
UNIT-III
Demand for Money: Quantity theory of money, Keynesian approach, Baumol and Tobins contribution,
Friedmans restatement of quantity theory of money.
UNIT-IV
Supply of Money: Definition of money and its importance, sources of money supply, inside and outside money,
the neutrality of money Equilibrium in money market. Money multiplier and credit creation by commercial
banks. Derivation, properties and shifts of IS and LM curves and simultaneous equilibrium in money and
product markets. The classical and Keynesian dichotomies and their resolution by Patinkins real balance effect
and through IS-LM model respectively.

Selected Readings:
Ackley, G. (Latest) : Macroeconomics : Theory and Policy, Macmillan, New York.
Rudiger Dornbusch, Stanley Fischer, Richard Startz (2004 or latest edition) Macroeconomics, McGraw Hill
Irwin
Blanchard, O. J. and Fisher, S.( Latest) : Lectures in Macroeconomics, MIT Press, Cambridge.
Branson, W. H. & Litvack, J. M.( Latest): Macro-economics, Harper and Row, New York.
Rangarajan C, Dholakia B.H (2003), Principles of Macroeconomics, Tata Mcgraw-Hill.
Paul Anthony Samuelson, William D. Nordhaus (2004) Macroeconomics, McGraw-Hill
William J. Baumol, Alan S. Blinder (2009) Macroeconomics: Principles and Policy, South-western cengage
learning
Andrew B. A Bell, Bernanke Macroeconomics: Pearson Publication.( Latest Edi.)
Shapiro: Macroeconomics theory, Harcourt College Publications.
Richard T Froyen. Macroeconomics : Theory and Policies (Latest Edi.) Amazon Publication

Quantitative Methods (MATH -505)

UNIT-I
Differentiation and Optimisation : Partial and total derivatives, Homogenous functions, Eulers rule, Finding
the maximum and minimum of a function with two variables : With and without a single equality constraint.
Simple economic applications such as elasticity and nature of commodity, consumers and producers
optimisation problems.
UNIT-II
Integration, Differential Equations, Linear Programming : Indefinite and definite integration of a function
with a single variable, method of substitution. Economic applications. Differential Equations : Variable
separable case, homogenous case, standard linear differential equations, Bernoullis form, exact equations, linear
differential equations with constant coefficients. Linear Programming: Setting up of the problem, various
definitions, solution by graphical method.
UNIT-III
Statistical methods: Measures of central tendency, dispersion, skewness and kurtosis. Index number analysis,
Time Series, Correlation and Regression, Probability: Methods of Trend Measurement: Quadratic, exponential,
modified exponential, gompertz and logistic forms. Measurement of seasonal indices : Simple average, ratio to
moving average, ratio to trend. Multiple and partial correlation involving three variables, multiple regression
with two explanatory variables, regression coefficients, definitions of r, r2, R2. Probability: Classical and
axiomatic definitions, additive and multiplicative rules, random variable and expected values, probability
distributions: Cases of binomial, Poisson, normal.
UNITIV
Sampling and census method: Types of sampling and sampling errors, Statistical Inference and Hypothesis
Testing: Parameters and estimates, sampling distribution of a statistic, standard error, and distribution of sample
mean properties of an ideal estimator, interval estimation, and confidence interval. Basic terminology of
hypothesis testing, large and small sample tests, tests of significance of means, single proportion, difference
between two proportions, simple correlation coefficient, regression coefficient, tests Involving F and X 2
distributions.
Selected Readings:
Chiang, A.C. (Latest): Fundamental Methods of Mathematical Economics, McGraw Hill, 3rd Edition.
Yamane, Taro (1972), Mathematics for Economists, Prentice Hall, N Delhi.
Allen, R.G.D. (Latest) : Mathematical Analysis for Economists, Macmillan.
S.P Gupta: Statistical Methods, Sultan Chand Publication
Freund, J. E. (Latest) : Mathematical Statistics, Prentice Hall India, 5th Edition.
Arora, P. N., Sumeet Arora and S. Arora (Latest) : Comprehensive Statistical Methods, S. Chand & Company
Ltd.
David Anderson J. Dennis Sweeney: Statistics for Business and Economics CenGage Learning.

History of Economic Thoughts (ECON -503)

UNIT I

Mercantilism: Main Principles. Theory of economic development; Views of Keynes, Petty,

Hume and Cantillon on Mercantilism: physiocracy : Natural Order, Agriculture and Product
net, Social classes. Tableau Economique.
UNIT II
The Classical Period: Economic Thought of Adam Smith, David Ricardo, and J. S. Mill
with special reference to their views on value, distribution international trade and economic
development; Malthus theory of population; Says law of market. Ricardo Malthus
controversy on Says law of market.
UNIT III
Socialistic Economic Thought: Socialist critique of classical economic thought with special
references to the views of Saint Simon, Sismondi and Proudhan. The Historical critics of
Classicism, Karl Marx method of Economic analysis. Marx of economic crises.
Transformation Problem.
UNIT IV
The Neo-Classical Period: Similarity and differences between classical and neo-classical
thought; The Marginal Revolution with special reference to the contribution of the Austrian
School, Leon Walras, Jevons. Post Marshalling Development in Economic Theory:
Contribution of Joan Robinson, E. H. Chamberlin; J. M. Keynes and Post Keynesian
developments in economic theory

Selected Readings:
Dasgupta, A.K. (Latest): Epochs of Economic Theory, Oxford University Press, New Delhi.
Brien, D.P.O: The Classical Economists, London, Oxford University Press, Latest.
Eric Roll (Latest): History of Economic Thought, Faber and Faber (Rupa).
Gide, C. and Rist C. (Latest) : A History of Economic Doctrines, George G. Harap & Co.
Blaug, M. (Latest): Economic Theory in Retrospect, Vikas Publishing House,
Schumpter, J.A. (Latest): History of Economic Thought, Oxford University Press.
Tom Bottomore : Dictionary of Marxist Thought, Basic Black Well, 1985

Advanced Micro Economic Theory (ECON -504)

UNIT-I
Analysis of Competitive Markets: Consumers Surplus: Hicks and Marshalls approach; Comparison of
Consumers Surplus estimates for price changes of Superior and Inferior goods. Consumers and Producers
Surplus and Efficiency of Perfect Competition. Welfare Effects of an Excise Tax, Import Tariff, Price controls
(supports) and Production Quotas.
Monopoly: Sources, Measurement and Welfare Costs and benefits of Monopoly Power. Monopoly price
Discrimination. Output and welfare comparisons with single price monopoly. Intertemporal price
discrimination and Peak Load Pricing. Two part tariffs and Tie-in Sales. Public Policy toward Monopolies:
Increasing Competition. Price Regulation. Public ownership of Monopolies.

UNIT-II
Monopolistic Competition: Characteristics. A firms short and long run equilibrium with differentiated
products and selling costs (advertisement). Group equilibrium, excess capacity under Monopolistic Competition.
Oligopoly: Cournot, Kinked demand Curve, Dominant and low cost firm models of oligopoly. Stackellberg
Model. Collusion and Cartel Model. Game Theory and the Economics of Cooperation : Dominant Strategy and
Nash Equilibrium. The Prisoners Dilemma : Repeated Games: Collusion and Tit-for-Tat Strategy. Strategic
Moves. Public Policy towards Oligopoly. Contestable Markets.
UNIT-III
Pricing of Factors of Production: Demand for a factor of production, Supply of Labor: Trade-off between
Work and Leisure. Factor Market equilibrium with: Competitive Factor and Output markets. Competitive Factor
Market and Monopolized output market. Monopolized Factor Market and Competitive output market.
Monopolized Factor Market and Monopolized output market. Only one buyer of Labor services i.e. Monopsony.
UNIT-IV
Welfare Economics: Pareto-optimality conditions in Production, Consumption and Exchange. Perfect
Competition and Economic Efficiency: First and Second theorem of welfare economics. Compensation Criteria.
Economic Efficiency versus Equity. Social Welfare Function approach, Utilitarian, Rawlsian and BergsonSamuelson social welfare functions and optimization of Social Welfare.
Selected Readings:
Mankiw Gregory N. (Latest) : Principles of Economics; 3rd Edition, Thomson; 3rd Indian . Reprint (2007).
Boumol, William J. and Blinder: Microeconomics: Principles and Policy, 9th Edition,
Salvatore Dominick (Latest) : Microeconomics: Theory and Applications; 4th Edition, Oxford Univ. Press.
.

Pindyck, Robert S., Rubinfel : Micro Economics, Prentice Hall of India, New Delhi.
Boumol, William J and Blinder Alan S (2005) Microeconomics; Principles and Policy9th Edition, Thomson, 1st
Indian Edition (2007).
Maddala, G S and Millelr Ellen (1989) Micro Economics: Theory and Applications. Tata McGraw-Hill (Edition
2004)

Advanced Macro-Economic Theory (ECON -505)

UNIT-1
Demand and Supply of Labour: Classical and Keynesian Views. Keynesian and Classical models of income
and employment determination. Wage-price flexibility and automatic full employment Classical versus
Keynesian approach.
UNIT-2
Growth Models: Neo classical model; Golden rule of accumulation; Optimal growth turnpikes. Theories of
Trade Cycles: Multiplier-Accelerator interaction model; Samuelson ,Kaldor ,Hicksand Goodwins models .
Determination of General Price Level; Classical and Keynesian approaches. Theories of Inflation; Demand
pull and cost-push inflation; short and long-run Phillips curve analysis; The Keynesian, monetarist and rational
expectationists analysis.
UNIT-3
Balance of Payments : Current and Capital accounts, Mundell-Flemming open economy model, Disequilibrium
in balance of payments and its consequences, Balance of payments adjustment policies under fixed and flexible
exchange rates.
UNIT-4
Monetary and Fiscal Policies: Goals of macroeconomic policy & stabilisation. Objectives, conflicts among
objectives, Mundell model, Swan model. Keynesian and monetarist perspectives on monetary, fiscal and income
policies. Stabilisation policies : Rules Vs Discretion: lagged effects of policies and role of expectations.
Crowding out effect and government budget constraint. Recent Developments: Monetarism. New-classical
macroeconomics: Rational expectations and real business cycle theory. New-Keynesian macroeconomics.
Global financial crisis & its impact on Indias economic growth
Selected Readings:
Ackley, G. (1978) : Macroeconomics : Theory and Policy, Macmillan, New York.
Aschheim, J. and Hiech, C. (1969): Macroeconomics: Income and Monetary Theory, Columbus, Ohio, Charles
E. Merrill.
Branson, W. H. & Litvack, J. M.(1976): Macro-economics, Harper and Row, New York.
Brooman, F. S. (1975) (5th edn.): Macro Economics, George Allen and Unwin Ltd.
Shapiro: Macroeconomics theory, Harcourt College Publications.
Rangarajan C, Dholakia B.H (2003), Principles of Macroeconomics, Tata Mcgraw-Hill.
Paul Anthony Samuelson, William D. Nordhaus (2004) Macroeconomics, McGraw-Hill
William J. Baumol, Alan S. Blinder (2009) Macroeconomics: Principles and Policy, South-western cengage
learning

Money and Banking (ECON -506)

UNIT-I
The Definition of Money: Function and types of money, Demand for Money: The Classical Quantity Theory of
Money, The Keynesian Approach, and Friedmans. Money, interest & income. Theory. Supply of Money: Money
creation by the Banking System. High powered money and money multiplier. Measures of Money supply in
India. Role constituents and functions of money and capital market with special reference to India. Unregulated
credit markets.
UNIT-II
Term Structure of Interest Rates: The Expectations Theory, Liquidity Premium Theory, Market Segmented
Theory, Preferred Habitat Theory. Monetary Policy: Targets, goals and the trade-offs among alternate goals,
Lags in operation, Fiscal policy.Transmission mechanism Classical model, Keynesian model and monetarist
model, Rules vs. Discretion.
UNIT-III
Central Banking: Origin and Evolution, Main Functions, Policy Tools, RBI Monetary Policy and Autonomy.
Credit creation & credit control.
Commercial Banking: Functions, Major developments in commercial banking in India since nationalization.
Banking & Financial Sector Reforms. Structure & growth of commercial and co-operative banks. Recent
Monetary reforms. Micro finance.
UNIT-IV
Development Banking: Role, Growth and structure of Development Financial Institutions in India. NonBanking Financial Companies (NBFCs) and regional rural banks. International Financial Institutions: India and
NBARD. International Monetary System: IMF and International Liquidity. IBRD (World Bank), European
Monetary System Features of the Maastricht Treaty and Post Maastricht Treaty Developments.
Selected Readings:
Bofinger Peter : Monetary Policy : Goals, Institutions, Strategy andInstruments, Oxford University Press, 2001.
Dennis Geoggrey, E.J. : Monetary Economics, Longman, 1981.
Nagraj. R Aspects of Indias Economic Growth and Reforms, Academic Foundation, New Delhi.
Dinlio, A. Eugene (Latest Edition) : Theory and Problems of Money and Banking, International Edition,
Schaums Outline Series.
Jitendra Mahakud: Financial institutional and Markets, Tata McGraw Hill.
Jalan, B. (1992) The Indian Economy Problems and Prospects, Viking, New Delhi.

International Economics (ECON -507)

UNIT-I

Theories of International Trade: Meaning of Interregional &International trade, Theories of

Absolute Advantage, Comparative Advantage and Opportunity Costs. Heckscher Ohlin
Theory of International Trade, Factor price equalization. Empirical testing of Heckscher
Ohlin Theory, Leontiefs paradox. Haberlers Theory of Opportunity Cost & Technology Gap
Theory.
UNIT-II
Terms of Trade : Concepts and measurement of terms of trade. Secular deterioration in the
terms of trade of developing countries. Aid versus trade controversy. International trade as
engine of growth. The effects of the terms of trade on a nations welfare. Theory of Tariff :
Effects of Tariff on Balance of payments, terms of trade, national income and income
distribution. Political economy of Non-Tariff barriers. Concept of infant industry.
UNIT-III
The Balance of Payments and Adjustments : Concepts and components of balance of
payments and balance of trade. Causes of dis-equilibrium in the balance of payments. The
process of adjustment in the balance of payment under Gold Standard, Fixed Exchange Rate
and Flexible Exchange Rates. Monetary approach to the balance of payments. Foreign trade
multiplier.
Optimum currency area- Theory & impact of the developed & developing countries
UNIT-IV
Foreign Exchange Markets : Euro Currency Markets, International Bond Markets.
Contemporary Exchange rate systems. Foreign Exchange Transaction forms. Foreign
Exchange Arbitrage and Market hedging. World Trading SystemWTO. Problem of
international liquidity (IBRD & IMF)
Selected Readings:
Bhagwati, J.N.: International Trade : Selected Readings, McMilan University . Press, Latest.
D.M Mithani: International Economics, Himalaya Publications
Dunn, Jr. Jones, R.W. : Handbook of International Economics, Volumes-I, II and III, Kenen, P.B. Elsevier
Amsterdam, 2003.
Krugman, P.R. and : International EconomicsTheory and Policy, Addison- Obstfeld Maurice Wesley, 2000
(Latest).
Salvatore, Dominick : International Economics, John Wiley & Sons Inc., 2004 (Latest Edi.)
Sodersten, B.O. and : International Economics, McMillan, London, 19949(Latest).
Francis Cherunilam International Economics (LatestEdi.) McGraw Hill

Indian Economy (ECON -508)

9

UNIT-I
Growth and Structural Change in the Indian Economy since 1950: Nature, causes and changes in sectoral
income distribution and occupational structure of the economy. Infrastructure Development Need,
performance and government strategy on infrastructure development with special emphasis on Special
Economic Zones (SEZs). State of the economy in 1990-91. Features and appraisal of Economic Reform
Programme. Indias planned development successes and failure. Constitutional amendments for 3 Tier level of
Goverance.
UNIT-II
Policies for social justice: Nature, extent and policies for Alleviation of poverty, inequality and unemployment.
Economics of education And health. Role of public & private investment in human capital formation.CoOperative movement in India & Japan. Food Security: Threat, indicators & mechanism.
UNIT-III
External Sector: composition and direction of Indias foreign trade and trade policy during pre and post
reforms. Exchange rate policy and convertibility of rupee. Liberalised Exchange Rate Management System.,
FEMA..Foreign Direct Investment Trends and issues. India and the World Trade Organisation. Parallel
economy & its implication. Banking & financial sectors reforms.
UNIT-IV
Agriculture : Pattern of growth of Indian agriculture since 1950. Liberalisation and emerging trends in Indian
Agriculture. Policy regime for agricultural.
Industry : Trends in growth and structure of Indian industry. Industrial Policy Regime: Critique of Regulatory
measures,. Deregulation and liberalization of the private sector. Impact of New Economic Policy on Indian
Industry.
Services & others: Banking and financial sectors reforms. Parallel economy & its implication.
Selected Readings:
Brahmananda, P.R. and Panchmukhi, V. R. (eds.) (1987) : The Development Process of Indian Economy,
Himalya Publishing House, Bombay.
Jalan, B. (1992) : The Indian EconomyProblems and Prospects, Viking, New Delhi.
Kapila, Uma (Ed.) (2007) : Indian Economy Since Independence, Academic Foundation, New Delhi.
Misra & puri (Latest Edi.) Indian Econmy, Himalaya Publication
Dutt.& Sundram: ( Latest Edi.) Indian Econmy, S. Chand Publication
P.K Dhar ( Latest Edi.) Indian Econmy, Kalyani Publication.
S.K Ray ( Latest Edi.) Indian Economy Prentice-Hall India
Further Readings :
Byres, T.J. (Ed.) (1998): The Indian Economy: Major Debate Since Independence, Oxford University Press, And
New Delhi.
Rakesh Mohan: facets of Indian Economy. ( Latest Edi.) Oxford University Press
Chandra Shekhar Prasad .( Latest Edi.) : A performance review 1947-48 to 2010-11 New Century Publications

10

Economics of Growth and Development (ECON -509)

UNIT-I
Understanding Development: economic growth and development: Meaning of economic growth & economic
development. Indicators of economic development. Growth and Change; Goulets three core values of
development; Sen.s Conception of Development; Measurement of economic developments; Income/Output
based measures and their inadequacies; PQLI and HDI as indicators of Development).
UNIT-II
Diverse Structure and Common Characteristics of Developing Nations: Size and income level (The Vicious
Circle of Poverty and Low Level Equilibrium Trap), the big push theory and critical minimum effort thesis.
Meaning of Dualism & its Characteristics Values and Institutions.
UNIT-III
Theories of Development: David Ricardo; Karl Marx; Schumpeter and Rostovs Theory of Stage of Economic
Growth. Model of growth & development- Joan Robinson , Kaldor, Hicks ,Harrod- Domar & Solow Swan
model. Endogenous growth- role of education, research & knowledge.
UNIT-IV
Trade and development: Trade as engine of growth, two gape analysis, Prebisch, Singer and Mydral views;
Gains from trade & LDCs. Dependency theory of development.
Selected readings:
Meier, Gerald M. and James E. Raunch (2003): Leading Issues in Economic Development, Oxford University
Press, New York.
Thirlwall, A. P. (2003): Growth and Development, Seventh Edition, Palgrave Macmillan, New York.
Todaro, Michael P. and Stephen C. Smith (2004) : Economic Development, Pearson Education (Singapore) Pvt.
Ltd., Indian Branch, Delhi.
Misra & Puri: Economics of Growth & Development, Himalaya Publication.
R.K Lekhi :Economics of Growth & Development, Kalyani Publication.
Ray, Debraj (2004): Development Economics, Seventh Impression, Oxford University Press, New Delhi.
Yujiro Hayami Developmental Economics ( Latest Edi.)

11

Research Methods for Economics (ECON -510)

UNIT-I
Research: Meaning, characteristics and types (Fundamental vs. Applied). Concept of researchable problem
research prioritization, research process. Hypothesis meaning, characteristics, types and testing. Review of
literature.
UNIT-II
Preparation of Questionnaire and schedule: definition, types, steps in construction of Questionnaire and
schedule, length and content. Sources of data, Methods of data collection- Observation (Meaning, criteria,
process, Importance, advantage and disadvantage).Interview (Meaning, objective, types, techniques, advantage
and disadvantage).
UNIT-III
Sampling Design: Selection of sample & sample size. Level of measurement: Nominal, Ordinal, Interval and
ratio. Data processing analysis and interpretation. Non parametric test advantages and disadvantages.
UNIT-IV
Report writing: Purpose, types of reports and qualities of a good research report. Preparation of research
report.
Writing of articles. Universal procedures for preparation of bibliography

Selected readings:
Gupta, S.P: Statistical methods, Sultan Chand publication.
Arora, P. N., Sumeet Arora and S. Arora (2007) : Comprehensive Statistical Methods, S. Chand & Company
Ltd.
Jai Narain Sharma: Research Methodology, Deep & Deep Publications.
Manas Das Gupta Research Methodology in Economics, Deep & Deep Publications.
Freund, J. E. (Latest) : Mathematical Statistics, Prentice Hall India, 5th Edition.
Arora, P. N., Sumeet Arora and S. Arora (Latest) : Comprehensive Statistical Methods, S. Chand & Company
Ltd.
David Anderson J. Dennis Sweeney: Statistics for Business and Economics CenGage Learning

12

Agricultural Economics (ECON -511) (Option) (i)

UNIT-I
Introduction: Nature and Scope of Agricultural Economics; Specificities of Farm Organisation and Agricultural
Production and Markets; Inter-sector Linkages of Agriculture [Backward and Forward Linkages and Feedback
Effects]. Role & Contribution of Agriculture in Economic Development: Historical Perspective [Experience of
United States, Australia, Japan, India and Brazil]; Declining Role of Agriculture and Dilemmas of Development.
WTO & Indian agriculture.
UNIT-II
Agricultural Transformation : Barriers to Agricultural Growth. Schultz Theory of Transformation of
Traditional Agriculture. Generation of Innovations and Institutional Constraints. Agricultural Transformation :
Indian Experience. Regional disparities in the growth structure of Indian agriculture. Impact of new economic
reforms on Indian agriculture.
UNIT-III
Agricultural Production : Uniqueness of Agricultural Production; Various types of Factor-Product, FactorFactor, and Product- Product Relations; Role of Farm Size and Structure in Equilibrium, Productivity, and
Return to Scale. Production Analysis: Primal Estimate [Cobb-Douglas Culture], Multiproduct Production;
Empirical Analysis of Allocative, Technical and Economic Efficiencies in agriculture.
UNIT-IV
Risk and Uncertainty in Agriculture: Nature and Types of Risks and Uncertainties in Agriculture, Public
Policies and Farm Level Measures to Reduce Risk and Uncertainties. Demand for and Supply of Farm
Products: Characteristics of Demand for Farm Products; Characteristics of Supply of Farm Products, Supply
Response of Farm Products; Role of Price and Non- Price Factors in Inducing Aggregate Supply, Empirical
Supply Response Functions and Evidence.
Selected readings:
Bruce L., Gardener and Gordon C., Rausser (Eds.) : Handbook of Agricultural Economics, Vol.1A, Agricultural
Production, Amersterdam, Elsevier Science B.V. Bruce L., Gardener and Gordon C.,
Rausser (Eds.) : Handbook of Agricultural Economics, Vol.1B, Marketing,
Rausser (Eds.) : Handbook of Agricultural Economics, Vol. 2B, Agricultural and Policy, Amsterdam, Elsevier
R.N Soni: Agricultural Economics, Vishal Publications.
R.K Lekhi & Joginder Singh: Agricultural Economics,Kalyani Publication.
Misra & puri (Latest Edi.) Indian Econmy, Himalaya Publication
Dutt.& Sundram: ( Latest Edi.) Indian Econmy, S. Chand Publication

13

Industrial Economics (ECON -511) (Option) (ii)

UNIT-I
Meaning & Introduction: Nature & scope of industrial Economics. Organization of industry. Changing forms
of industrial organization. Process of industrialization: Rationale, objectives, strategies and polices. Policy goal
of industrialization in India. Major classification of the organized industry: employment size and ownership
structure
UNIT-II
Pattern of industrial growth : changes in industrial structure in India since 1951. Theories of industrial
Location, Factors affecting industrial location. Regional imbalances in industrial development in India and
government policy for balanced regional development of industry. Industrial Finance in India.
UNIT-III
Market structure and R & D. Allocative efficiency in Indian industry. Productivity growth. FDI and acquisition
of technology in India. Economic reforms and industrial growth
UNIT-IV
MRTP and nature of concentration in Indian industry. Liberalisation and privatization in Indian industry.
Mergers and takeovers. Competition policy and consumer protection in India.
Industrial Labour- Problems, policies & reforms in India
Selected readings:
Cohen, K. L. and Cyert R. M. (1976) : Theory of the Firm, Prentice Hall.
Scherer, F. M. and Ross David (1990) : Industrial Market Structure and Economic Performance, Boston
Houghton Miffilin Company.
Hay, D. A. and Morris, D. J. (1991) : Industrial Economics : Theory and Evidence, Oxford University Press.
Shepherd, W. G. (1990) : The Economics of Industrial Organisation (3rd edn.), Prentice Hall Englewood Cliffs,
New Jersey.
Martin Stephen (1989) : Industrial Economics (Economic Analysis and Public Policy).
Bain, J. S. (1968) : Industrial Organizations (2nd edi.), University of California.
Berthwal: Industrial Economics, Wiley Edition Publications.
Martin Stephen (1989): Industrial Economics (Economic Analysis and Public Policy
Devine, P. J. & Others ( Latest) Introduction to Industrial Economics, George Allen and Unwin.

14

Basic Econometrics (ECON -511) (Option) (iii)

UNIT-I
Nature & Types of Econometrics, Methodology Followed & Type of Data Used in Econometric Models.
Estimation of the Two Valuable and Multiple Regression Models; BLUE Properties and Testing of Hypothesis.
Dummy Variables and Their Uses as Independent Variables
UNIT-II
Nature, Consequences, Detection & Remedial Measures for the problems of : Multicollinearity;
Hetroscedasticity; Autocorrelation and Specification Bias.
UNIT-III
Distributed Lag and Autoregressive Models Introduction and Nature of Distributed Legacy (DL) & Auto
Regressive (AR) Model. Koyck Approach for Estimation of DL & AR Models Rationalization of Koyck
Approach By adaptive Expectation and Partial Adjustment Hypothesis; Almors Polynomial Approach.Testing
Causality in Economics : Granger and Causality Tests.
UNIT-IV
Estimation of Regression Models using standard statistical/Econometric Packages [SPSS/EView/ Shazame].
Interpretation of Estimates and Hypothesis Testing. Testing for and redressal of Multicollinearity,
Hetroscedasticity, Autocorrelation using Computer Techniques.
Selected readings:
Gujarati Damodar (2002) : Basic Econometrics, McGraw Hill.
{{{

Johnston, J. and Dinardo (1997) : Econometric Methods, 4th Ed., McGraw Hill.

Koutsoyiannis: Econometics, palgrave Foundations

W.Green Econometrics, Pearson Publications
James H Stock: Introduction to Econometrics (Latest Edi.) Amazon Publication
G.S Maddala : Introduction to Econometrics Tata McGraw-Hill ( Latest Edition)

15

Health Economics- I (ECON -511) (Option) (iv)

Unit I
Relevance of Economics in Health and Medical care. Overview of health economics; concepts, definition and
scope of health economics. Difference between health, health care and medical care, Basic concepts used in
health economics, Measures of health status, economic development, health services and health.

Unit-II
Micro - economic tools for health economics: The law of demand, Price elasticity of demand, the law of supply,
equilibrium, the theory of firm behaviour, imperfect competition, specification and measurement of economic
variables and their relationship, health status indicators.

Unit-III
Health care: Indias Potential. Stakeholders of healthcare industry, Measurement of medical care, changes in
health status, demand for medical care, and Indias share of worlds health problems. Determinants of demand
for health care, progress of health care supply in India.

Unit-IV
Public policy on health and health care .Challenges in rural health care, public and private expenditure in health
care, policy reforms in health care sector, steps in building a high class health care facility.
Selected readings:
James W. Henderson, Health Economics and Policy; Thomson-South-Western, (Indian edition by Akash Press,
New Delhi) 2005.
Banerjee, D. (1975), social and Cultural Foundations of Health Service Systems of India, Inquiry, Supplement
to Vol. XII, June.
Banerjee, D. (1982), Poverty, class and Health Culture in India, Vol. I Parchi Prakashan, New Delhi.
Gandhian Institute for rural and Family Planning (1972), studies on Mortality in India, Monograph Series No. 5.
Madan, T. N. 91980), doctors and Society Three Asian Case Studies, Vikas Publishing House, Delhi.
Naik, J. P. 91977), an alternative System of Health Care services in India Some Proposals, ICSSR, Delhi
Feldstein, M. S. (1977), Economic analysis of Health Service Efficiency, North Holland, Amsterdam. Jimenez
E. (1987), Pricing Policy in the Social Sectors, The Johns Hopkins University.
V Renuka Devi, M.Gowhar Jhan: Health Economics Issues and Challenges, Deep & Deep Publication.
Philip Jacobs: (1997) The Economics of Health & medical care, Anaspen publication

Public Finance (ECON -512)

16

UNIT-I
Scope of Public Finance: Meaning & scope of public finance. Private and Public Goods: Role of Government
in economic activity; allocation ,distribution& stabilisation functions . Efficient Provision of Public Goods in a
Partial and General Equilibrium Approach. Role of Budget with Special Reference to the Goal of Distribution.
Performance and programming budgeting. Classification of budgets.
UNIT-II
Meaning And Type Of Taxes: Requirements of a good tax structure. Approaches to taxation : micro analysis of
direct and indirect taxes; individual income tax, corporation income tax, sales tax including value-added tax and
expenditure tax. Incidence analysis in a partial and general equilibrium setting. Excess burden, Effects of
taxation on work efforts, Savings and investment.
UNIT-III
Growth And Structure Of Public Expenditure: Effects on savings, investment & growth. Wagners law and
Peacock-Wiseman Hypothesis. Pattern of public expenditure in India and recent reforms in India.
Fiscal Policy- Neutral & compensatory & functional finance; balanced budget multiplier
UNIT-IV
Deficit Finance. Issues Relating To Public Debt : Debt Burden Analysis and Management of Public Debt;
Recent Policy in India.
Union- state financial relations: Horizontal & vertical imbalances; the finance commission. Fiscal federalismtheory & problem; problem of centre state financial relations in india.
Selected Readings:
Brown, C. V. and Jackson, P. M. (1990) : Public Sector Economics, 4th edition, Basil Blackwell, Oxford.
Musgrave, R. A. & Musgrave, P. B. (Latest edition) : Public Finance in Theory and Practice, International Edi.,
McGraw Hill, 1973.
Houghton, R. W. (ed.) (1970): Public Finance, Harmondsworth Penguin Books.
Peacock, and Straw, G. K. (1970) : The Economic Theory of Fiscal Policy, George Allen & Unwin, London.
S.K Singh: Public Finance Theory & practices. S. Chand Publication
Raghabendra Jha (1999) : Modern Public Economics, Routledge.
Misra & puri (Latest Edi.) Indian Econmy, Himalaya Publication
Dutt.& Sundram: ( Latest Edi.) Indian Econmy, S. Chand Publication

17

Advanced Economics of Growth and Development (ECON -513)

UNIT-I

Economic Growth and Structural Change: Structural Changes in the composition of gross
domestic product, occupational structure, Structure of capital accumulation; and accumulation of
human capital; exploring the relationship between economic development and income distribution
(Kuznets inverted U shaped curve. Development & growth- role of Institutions.
UNIT-II
Agriculture-Industry Interface: Interdependence between agriculture and industry; industrialization
and urbanization (The models of Lewis, Fei and Ranis and Todaro); The Balanced Growth Doctrine
(Review of Rosenstein and Nurkse); The Strategy of Unbalanced Growth (Hirschmans version), and
the reconciliation of the two.
UNIT-III
Developmental aidRole, trends and constraints: Role of Foreign Direct Investment (FDI) and
Multi-national Corporations (MNCs) in the emerging scenario. Market and State : An overview of the
Economic Functions of the Market and State; Efficiency of the Competitive Market, Market Failure,
Government Failure, on the Choice of Economic System.
UNIT-IV
Planning & market Mechanism : State intervention vs. liberalization, and privatization debate. The
core areas of State intervention under liberalization. Process of plan formulation. Investment criteria
for plan projects, cost-benefit analysis. Determination of size, growth rate and priorities in planning.
Use of input-output and linear programming techniques in planning .

Selected Readings:
Agarwal, A. N. and S. P. Singh (eds.) (1977 ): The Economics of Underdevelopment, Third Impression, Oxford
University Press, New Delhi.
Arrow, Kenneth (1962) : The Economic Implications of Learning by Doing, Review of Economic Studies, June,
pp. 155-173.
Kuznets, S. (1966) : Modern Economic Growth, Rate Structure and Spread, Vakils, Feffer and Simons Private
Limited, Bombay.
Meier, Gerald M. and James E. Rauch (2000): Leading Issues in Economic Development, Oxford University
Press, New York.
Misra and Puri: Economics of Growth & Development, Himalaya Publication.
R.K Lekhi :Economics of Growth & Development, Kalyani Publication.
Ray, Debraj (2004): Development Economics, Seventh Impression, Oxford University Press, New Delhi.

18

Agricultural Marketing (ECON -514) (Option) (i)

UNIT-I
Market structure, conduct and performance analysis: Types of markets. Methods of sale. Market functions and
institutions. Marketing channels for different products.
UNIT-II
Role of information technology and telecommunication in marketing of agricultural commodities: Market
information service, electronic auctions (e-bay), e-Chaupals, Agmarket and Domestic and Export market
Intelligence Cell (DEMIC).Introduction to commodities markets and future trading, basics of commodity futures
and operation mechanism of commodity markets, price discovery and hedging. Role of government in
promoting commodity trading and regulatory measures.
UNIT-III
Agriculture Marketing and Prices :Pricing of agricultural inputs and products. Market integration and its
impact on prices. Systems approach to agricultural marketing .Application of quantitative techniques in
marketing. Price integration between domestic and international markets. Decomposition of time series. Sources
of data.
UNIT-IV
Demand and Supply Side: Estimation of demand for and supply of farm products. Marketed surplus model.
Price policy for inputs and output. Public stocking and price stabilization policies. Buffer stocking and import
policies. Problems in agricultural marketing from demand, supply and institutional side. Methods of determinate
of administered prices (MSP, Procurement prices etc.)

Selected Readings :
S.S.Acharya and N.L.Agarwal: Agricultural marketing in India oxford and IBH Publishing Co., New Delhi.
Government of India (Latest): National Agricultural Policy, Ministry of Agriculture, Government of India, New
Delhi.
A.S.Kahlon and D.S.Tyagi Agricultural price policy in India oxford and IBH Publishing Co., New Delhi.
S.S.Acharya and N.L.Agarwal Agricultural prices-analysis and policy oxford and IBH Publishing Co., New
Delhi.
R.L.Kohls and J.N.Uhl: Marketing of agricultural products Macmillan Publications Co. Inc., New York
Z.Y.Jasdanwalla: Marketing efficiency of Indian agriculture Allied Publishers Pvt. Ltd, Bombay.
M.E.Brunk and L.B.Darrah: Marketing of agricultural products The Ronald Press Co. New York

19

Labour Economics (ECON -514) Option (ii)

UNIT-I
Labour Market: Nature and characteristics of labour markets in developing economics like India. Paradigms of
labour market classical, neo-classical and dualistic; Analysis of demand and supply forces, Demand for labour
relating to choice of technology. Supply of labour in relation to growth of labour force. Labour force
participation
UNIT-II
Employment: Employment and development relationship Importance of full employment in the context of
poverty in the developing countries. Unemployment concept and measures. Causes of unemployment, Issues
relating to employment rationalization, technological change and modernization. Rural unemployment and
educated unemployment. Planning of Human capital.
UNIT-III
Wage Determination: Various classical, neo-classical and bargaining theories of wage determination. Various
concepts of minimum wages and fair living. Problems of implementation of minimum wages. Wage
determination by sectors Urban and Rural, organized and unorganized. Wage and inflation. Productivity and
wage relationship. Profit sharing schemes. Causes of wage differentials in terms of firm, industry, occupation
and region.
UNIT-IV
Industrial Relations and Trade Unions: - Industrialization and emergence of trade unionism. Growth, structure
and pattern of trade unionism. Achievements and failures of trade union movement. Determinants of industrial
disputes. Steps to achieve industrial peace. Methods of settlement of industrial disputes : collective bargaining,
conciliation, arbitration and labour participation in management. Labour policy of the government.
Selected Readings :
Lester, R. A. (1964). Economics of Labour; 2/e Macmillan, New York.
McCormick, B. and Smith Eds. (1969). The Structure of Labour Markets, Harper and Brothers, New York.
Bellante, D. and M. Jackson, (1983). Labour Economics, McGraw-Hill, New York.
Das, N. (1960). Unemployment Full Employment and India, Asia publishing House, Bombay.
Deshpande, L. K. and J. C. Sandersara, eds. (1970). Wage Policy and wage determination in India. Bombay
University Press, Bombay.
Madan, B. K. (1977). The Real Wages of Industrial Labour in India. Management Development Institute, New
Delhi.
Deshpande, L. K. and J. C. Sandersara, eds. (1970). Wage Policy and wage determination in India. Bombay
University Press, Bombay.
Rees, A. (1962). Economics of Trade unions, J. Nisbet and Company, Digswell.
T.N.Bagoliwal: Economics of labour and industrial Realtaions, Satya Bhawan Publication.
Jiwitesh Kumar Singh, Labour problems: Principles, Problems and Practices (Latest Edi.) Amazon Publication.

20

Advanced Econometrics (ECON -514) Option (iii)

UNIT-I
Discrete & Limited Depended Variable Models: Types, mis-specification and choice of Binary Dependent
Models. Description and Estimation of Linear Probability, Logit, Probit and Tobit Models.
UNIT-II
Simultaneous Equation Models (SEM) : Nature of SEMs, Simultaneous Equation Bias, Identification
Problem. Derivation of Rank and Order Conditions, Testing Identification of Economic Models. Estimation of
SEMS : ILS, 2SLS, 3SLS, LVR or LIML Methods.
UNIT-III
Time Series Analysis: Univariates Time Series Model : Rationale, Stationarity, Properties of AR, MA and
ARMA processes. Testing Stationarity, Estimation and Forecasting using MA, ARMA and ARIMA models.
Nonstationary (Co-integration) regression, Multiple Equation Models : Vector Autoresression (VAR) Models,
(Introduction, Formulation and Estimation), Vector Error Correction Models [VECM], Simultaneous Structural
Equation Models.
UNIT-IV
Panel Data Models: Introduction : Advantages and issues involved in utilizing panel data. Simple Panel data
Models: Fixed effects Models, LSDV approach, Dynamic Panel Data Models: Random Effects
modelsFormulation & Estimate by GLS & GMN. Fixed Effects models GMM and MLE estimation.
Variable-Coefficient Models: Random-Coefficient Models, Formulation, Estimation & Testing for Coefficient
Variation.
Selected Readings :
S. Hsiao Cheng : Analysis of Panel Data, 2nd Ed., Cambridge, Cambridge University.
Gujarati Damodar : Basic Econometrics, 4th Ed., New York, McGraw.
Johnston and Dinarido : Econometrics, 4th Ed., New York, McGraw.
Greame William : Econometric Analysis, 5th Ed., Prentice Hall.
Baltagi, B.H. : Econometrics, 2nd Ed., New York, Springler.
Koutsoyiannis: Econometics. Palgrave Foundations Publication
W.Green Econometics, Pearson publication.
James H Stock: Introduction to Econometrics (Latest Edi.) Amazon Publication
G.S Maddala : Introduction to Econometrics Tata McGraw-Hill ( Latest Edition)

21

Health Economics- II (ECON -514) Option (iv)

UNIT-I
Economic evaluation of health care in India, cost analysis, cost minimization analysis, cost effectiveness
analysis, cost utility analysis, cost-benefit analysis. National Health policy, comparative study of government
and private health care services to the society.
UNIT-II
Health insurance; economic benefits of health insurance. Prognosis and prospects, factors determining demand
for health insurance, existing health insurance schemes, constraints and challenges ahead, role of the state
governments.
UNIT-III
Health financing mechanism; a review of per capita private and public expenditure on health services over time.
An analysis of the sources of (public, quasi public and private) finance for health. Criteria for evaluating health
financing mechanism (efficiency and equity)
UNIT-IV
Managing risk in health care; various types of risk (clinical operating risk, event risk, pricing risk, financial risk
etc.) designing a risk management strategy, preparing a hospital project
Selected readings:
James W. Henderson, Health Economics and Policy; Thomson-South-Western, (Indian edition by Akash Press,
New Delhi) 2005.
Banerjee, D. (1975), social and Cultural Foundations of Health Service Systems of India, Inquiry, Supplement
to Vol. XII, June.
Madan, T. N. 91980), doctors and Society Three Asian Case Studies, Vikas Publishing House, Delhi.
Naik, J. P. 91977), an alternative System of Health Care services in India Some Proposals, ICSSR, Delhi
Feldstein, M. S. (1977), Economic analysis of Health Service Efficiency, North Holland, Amsterdam. Jimenez
E. (1987), Pricing Policy in the Social Sectors, The Johns Hopkins University.
V Renuka Devi, M.Gowhar Jhan: Health Economics Issues and Challenges, Deep & Deep Publication.
Philip Jacobs: (1997) The Economics of Health & medical care, An aspen publication

22

Eternal University, Baru Sahib

Human Values & Professional Ethics
1. Subject Code: Edu-101

Course Title: Universal human values in higher education

and Professional ethics

2. Contact Hours: L: 1

T: 1

3. Examination Duration (Hrs.): Theory: 2

4. Relative Weightage: IAE 30
5. Credits:

ETE 40

Tutorial: 1
PRE 30
6. Semester: First

7. Pre-requisites: Nil
8. Objective:
9. Details of Course:
S. No. Particulars
No. of lectures
1
Understanding the need, basic guidelines, content and process of 6
value education, self-exploration, continuous happiness and
prosperity, fulfillment of basic aspirations of human being
2
Understanding the human being as co-existence of Self (I) and 8
body, understanding myself, sanyama and svasthya,
understanding values in human relationships, from family order
to World family order, understanding the incorrectness and
mutual fulfilment understanding existence as co-existence,
3
Basis for universal human values and ethical human conduct, 6
basis for holistic alternative towards universal human order
4
Professional ethics, issues in professional ethics, inherent 6
contradictions and dilemmas and their resolutions
5
The holistic criteria for evaluation, case studies of typical holistic 6
technologies, management models and production systems,
strategy for transition from the present state to universal human
order: at the level of individual, at the level of society.
10. Practical
S. No. Particulars
1
Self-Introduction, goals of life, Differentiation between right and wrong,
Observations and analysis of achievements and shortcomings in life
2
Root cause and way out of various techno-genic maladies such as energy and
natural resource depletion, environmental pollution, global warming, ozone
depletion, deforestation, soil degradation etc.
3
Root cause and way out of various threats to human happiness and peace such as
nuclear proliferation, terrorism, criminalization of politics, large scale corruption,
suicidal attempts, generation gaps, depression, scams, and breakdown of relations.
4
Natural Acceptance in relationship-feeling of respect and disrespect, Desires
related to Self (I) or Body, nurturing, protection and right utilization of body, plants
and herbs around the campus and their use in curing diseases
5
Group discussions in classrooms about any two problems of society, respecting and
disrespecting the related ones, Writing a story, poem, essay, skit, narration,
dialogue to educate a child,

23

11. Suggested Books/Readings:

S. No.
Authors/ Name of Books/Publisher
1
R R Gaur, R Sangal, G P Bagaria 2009, A foundation course in Human Values and
professional ethics. Excel Books Private Limited New Delhi.
2
R R Gaur, R Sangal, G P Bagaria 2009, Teachers Manual: A foundation course in
Human Values and professional ethics. Excel Books Private Limited New Delhi.
3
A N Tripathy, 2003, Human Values, New Age International Publishers
4
B P Banerjee, 2005, Foundations of Ethics and Management, Excel Books.

24