B.Sc. Economics

St. Xavier's College, Kolkata
In Kolkata

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Important information

  • Bachelor
  • Kolkata
  • Duration:
    3 Years

Important information

Where and when

Starts Location
On request
30 Park Street (30 Mother Teresa Sarani), 700016, West Bengal, India
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Course programme

B.Sc. Economics

MICRO ECONOMICS - I (Full marks 75)
Module - 1 Theory of Demand
Unit - 1 Concept of utility - total and marginal utility - law of diminishing marginal utility -law of demand
- relation between law of demand and law of diminishing marginal utility; Elasticity of demand -
own-price, cross-price and income-elasticities of demand - measurement of price-elasticity (Total
outlay and point methods).
Unit - 2 Concept of ordinal utility - definition and characteristics of Indifference Curves - budget line -
consumer's equilibrium - price-, substitution- and income- effects - income-consumption, priceconsumption
and Engel curves (diagrams only).
Module - 2 Theory of Production and Cost
Unit - 1 Production function - Law of variable proportions - AP, MP and TP curves -Properties of
isoquants - returns to scale (basic concept only).
Unit - 2 Cost of production - implicit (opportunity) and explicit costs - long run cost minimization Short
Run Cost : fixed and variable costs - short-run cost curves - long-run average cost curve. -
.Relation between Short Run and Long Run Cost
(Full marks 75)
Module - 1 Theory of Market
Unit - 1 Market of perfect competition - AR, MR and TR for a competitive firm - concept of profit
maximization - short-run equilibrium of the competitive firm - short-run supply curves of the firm
and the industry - long-run equilibrium of the competitive firm.
Unit - 2 Monopoly - AR, MR and TR in monopoly - price and output determination under monopoly -
multi-plant monopoly - concept of price-discrimination and 3rd Degree Price discrimination
(diagram only).
Module - 2 Theory of Distribution
Unit - 1 Marginal productivity theory of distribution - factor price determination - distinction
between money and real wages - collective bargaining- and equilibrium under monopsony
alternative theories of profit.
Unit - 2 Rent - Ricardian theory - modern theory - quasi-rent; interest - money and real interests -
loanable fund and liquidity preference theories of interest.
Module - 3 Indian Economic Issues
Unit - 1
Features an causes of underdevelopment of the Indian Economy.
Unit - 2 Indian planning and economic reforms: Achievement and failures of India\s five year plans
Unit - 3 Agriculture: Causes of low p-productivity; Farm size productivity debate; land reforms: meaning,
importance and evaluation; Green revolution and its effects; Globalisation and Indian Agriculture.
Unit - 4
(a) Industry: Industrial policy resolutions, 1948 and 1956; New industrial policy, 1991; (b) Smallscale
and large-scale industries: problems and solutions.
1. Lipsey and Chrystal: Principles of Economics (Oxford University Press)
2. Mankiw N.G: Principles of Economics (Thomson South-Western)
3. Samuelson and Nordhaus: Economics (McGraw- Hill)
4. Bhagwati and Desai: Planning for Industrialization
5. Bhagwati asnd Chakraborty: Indian Economic Analysis
6. Economic Survey, Different volumes
7. Dutt and Sundaram: Indian Economy, S Chand and Company, Delhi
8. Agarwal: Indian Economy, Vikas Publishing Company, Delhi
Paper-3 MACRO ECONOMICS - I (Full marks 75)
Module - 1 National Income Accounting
Unit - 1 Concept of National Income -Circular flow of income, Distinction between Gross and Net
National Income.
Unit - 2 Different Methods of Measuring National Income
Module - 2 Theory of Income and Employment
Unit - 1 Classical Theory of employment and output-Say's Law of Markets, neutrality of money and
Classical dichotomy
Unit - 2 Simple Keynesian Theory of income determination; Multiplier mechanism in a closed economy,
Paradox of thrift.
Module - 3 Theory of Consumption and Investment
Unit - 1 Keynesian Consumption Function-Relation between Average and Marginal Propensity to
Unit - 2 User cost of capital and investment, acceleration theory of investment.
(Full marks 75)
Module - 1 Money and Banking
Unit - 1 Definition of Money-Functions of Money-Value of Money-Different concepts of Money
(M1, M2, M3 AND M4), Quantity Theory of Money-Fisher's version and Cambridge version.
Unit - 2 Banking-asset liability accounting for central bank and commercial bank, Functions of Central
Bank- Functions of Commercial Banks-Money multiplier theory and credit Creation- Credit
Control Methods.
Module - 2 Theory of Inflation
Unit - 1 Concepts of Inflation, Deflation and Stagflation-Inflationary Gap-Distinction between Demandpull
and Cost-push Inflation, Basic concept of Phillips curve and role of expectation.
Unit - 2 Effects of Inflation, Anti-inflationary policies.
Module - 3 Indian Economic Issues
Unit - 1 National Income of India: Trends, Estimation and Distribution; Structural changes in Indian
Economy through National Income Statistics- Changes in Occupational Patterns- Sectoral
Distribution of Income.
Unit - 2 Money and Banking: Role of Indian Commercial Banks- Credit Control Policy of Reserve Bank of
India-Money market in India; inflation: basic facts, causes and anti-inflationary policies .
Unit -3 Industrial labour, female labour and child labour .
Paper-5 (Full marks 50)
Module - 1 International Economics
Unit - 1 Absolute Advantage theory of Adam Smith.
Comparative Advantage - Sources of Comparative Advantage - gains from trade and
Unit - 2
Unit - 3
The Ricardian Model- A One Factor Economy, Production possibility frontier, Autarkic
equilibrium, Labour Productivity and Comparative Advantage: Determination of international
terms of trade, Gains from Trade.
Commercial policy: tariff and quota; argument for free trade and protectionism.
Module - 2 Development Economics
Unit - 1 Distinction between Economic Growth and Economic Development, Use of per capita income as
an index of economic development and its limitations; Entitlement Approach, Human
Development Paradigm and Human Development index.
Unit - 2
Unit - 3
Unit - 4
Unit - 5
Different aspects of gender inequality and Gender-Related Development Index.
Population and development; vicious circle of poverty, capital formation and development.
Strategies of Development- Low-level equilibrium trap and big push; Balanced Growth and
Unbalanced Growth; choice of technique-basic issues.
International Trade and development and role of international institutions (World Bank, IMF and
WTO) in economic development.
Paper-6 (Full marks 50)
Module - 1 Statistics
Unit - 1 Meaning of statistics, variable and Attribute, primary and secondary Data, population and sample,
complete Enumeration (or census) and Sample Survey Classification, Tabulation.
Unit - 2
Unit - 3
Diagrammatic Representation of frequency distribution: Line, Bar and Pie Diagram, Histogram,
Ogive, Frequency Polygon
Central tendency (mean, median, mode), measures of dispersion (absolute and relative), concept of
1. Nagar and Das: Basic Statistics for Business and Economics.
Module - 2 Public Finance
Unit - 1 Definition of public goods - Difference between private and public goods - Samuelson's theory of
optimal provision of public goods.
Unit - 2
Unit - 3
Canons of taxation, direct and indirect taxation-comparison and role in developing countries,
incidence and shifting of taxation, basic concept of value added tax.
Public debt -internal and external burden of debt, management of public debt, public debt in
underdeveloped countries.

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