SVU CET- 09: SYLLABUS

TEST No-9, ECONOMICS

SECTION – A:
PAPER -I MICRO ECONOMICS
1. Introduction
Definitions and scope of economics, Micro macro-economics, static’s and dynamics, inductive and deductive
analysis, partial and general equilibrum, Choice as an economic problem.
2. Consumer's Behaviour: Cardinal and ordinal utility approaches, Law of Diminishing marginal utility, Law
Of Equi-marginal utility, Indifference curve: Consumer's equilibrium (Hicks and Slutsky); Giffins goods,
demand analysis, Elasticity of demand-Price, Income and cross elasticities: consumer's surplus; Engel
curve.
3. Theory of Production and Costs: Production function; Isoquant; Factor substituion; Law of variable
proportions, Returns to scale; Economics of scale; Different concepts of costs and their interrelation;
Equilibrium of the firm; Expansion path.
4. Market Structure: Perfect and imperfect markets; Equilibrium of a firm-Perfect competition, Monopoly
and price discrimination, Monopolistic competition, Duopoly (Cournot's model), Oligopoly (kinky demand
curve), controlled and administered prices.
5. Factor Pricing: Marginal Productivity theory of distribution Wages and collective bargaining: Wage
differentials; Rent-Scarcityrent; Differential rent; Quasi rent; Interest-Classical, Neo-classical and Keynesian
theories; Profits - Innovation, risk and uncertainty theories.

Basic Reading List:

1. A.Koutsoyiannis : Modern Microeconomics, Macmillan
2. Stonier, A.W. and D.C.Hague : A text book of Economic Theory, ELBS & Longman Group, London.
3. H.L. Ahuja : Advanced Theory
4. H.S. Agarwal : Principles of Economics
5. Heathfield and Wibe : An introduction to Cost and Production Functions, Macmillan, London.
6. P.N. Chopra : Basic Economics

SECTION – B
PAPER-II: MACRO ECONOMICS

1. National Income and Social Accounts : Meaning, definition and importance of macro economics,
concepts and measurement of national income : Limitations of national income, income as an indicator of
economic welfare, Circular flow of Income, Social accounting.
2. Theories of Output and Employment: Say's Law of Markets and classical theory of employment;
Keynes objection to classical theory, Aggregate demand and Aggregate supply functions; The Principle
of effective demand - Average and Marginal propensity to consume; Factors influencing consumption
spending; the investment multiplier. Theory of investment - Autonomous and induced investment; Marginal
efficiency of capital; Phases of trade cycle.
3. Money: Meaning, function and classification of money; Gresham’s Law; Role of Money in capitalist,
Socialist and mixed economies; Budgets and money supply, money supply in an open economy, control of
money supply.
4. Quantity Theories of Money: Quantity theory of money - Transactions and cash balance approaches;
The Keynesian approach; Definition, types, causes and effects of inflation; Demand pull and cost - push
inflation; measures to control inflation.
5. Banking: Types of commercial banks; Functions of commercial banks; the process of credit, purpose and
limitations; Liabilities and assets of commercial banks; Functions of the Reserve Bank of India; Quantitative
and qualitative methods of credit control.

Basic Reading List :

1. Dillard, D. : The Economics of John Maynard Keynes, Cross by Lockwood and sons, London
2. Vaish, M.C. : Macro Economic Theory
3. Gupta, S.B. : Monetary Economics, S. Chand & Co., Delhi.
4. Mithani, D.M. : Macro Economic Analysis and Policy, Oxford and JBH, New Delhi.
5. Mishra, S.S. : Money Inflation and Economic Growth, Oxford and IBH Publishing Company, New Delhi.
6. Lewis, M.K.& Mizan, P.D.: Monetary Economics, Oxford University Press, New Delhi.

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 SECTION – C
PAPER-III: INDIAN ECONOMY AND ENVIRONMENTAL ECONOMICS

1. Economics of Development: Meaning and definition of economic development, Measures of economic

development - GNP, PQLI and HDI - Factors affecting development; Capital formation and Labor; Growth of
population, poverty and income inequalities in developing economies, Technology and environment,
resource depletion and pollution, concept of sustainable development, Balanced and unbalanced models of
growth, the role of choice of goods and techniques in economic development.
2. Current Structure of the Indian Economy and Economic Planning: Basic features, Natural resources-
Land, Water and Forest resources; Broad demographic features - Population size and growth rates, sex
composition, rural urban migration. Occupational distribution; Population Policy, Infrastructure
development, National Income, Trends, composition and structure in India, Poverty Inequalities and
unemployment - Causes and consequences, Current Five Year Plan - Objectives, allocation and argets;
New economic reforms - Liberalization, Privatization and Globalisation in India.
3. Indian Agriculture: Nature and Importance; Trends in agricultural production and productivity;
Factors determining productivity, New Agricultural strategy and green revolution, Rural Credit, Agricultural
Marketing, Agricultural Price Policy, Agricultural Infrastructure and Food security.
4. Indian Industry and Services: Present structure and growth of Indian Industry since Independence;
Industrial Policy of 1956 and 1991, FEMA, Growth and Problems of small scale industries. Role of Public,
Private and Foreign sector enterprises in India's Industrialization, Disinvestment policy in India. Growing
importance of Social Sector in India.
5. Environment: Environment economy linkage, Environment as a necessity and luxury population
environment Linkage; Environmental use and environmental disruption as an allocation problem; Market
failure for environmental goods; Environment as a public good; The commons problems; Property right
approach to environmental problem; Valuation of environmental damages; Land, water, air and forest,
prevention, control and abatement of pollution.

Basic Reading List:

1.Higgins, B. : Economic Development

2.Meier, G.M. : Leading issues in Economic Development
3.Tadaro, B. : Economic Development
4.Pushpavathi & Josh i: Practical Exercises in Economic Analysis.
5.Datt, R. & Sundaram, K.P.M.: Indian Economy, S. Chand 7 Co., Ltd., New Delhi
6.Dhingra, I.C. : The Indian Economy: Environment and Policy, Sultan Chand & Sons, New Delhi
7.Misra, S.K. and Puri, V.K.: Indian Economy - Its Development Experience, Himalaya Publishing House,
Mumbai.
8.Bhattacharya, R.N. (ED.) 2002: Environmental Economics: An Indian perspective, Perspective, Oxford
University, Press, New Delhi.

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