In Mumbai

Price on request


  • Type


  • Location


  • Duration

    3 Years



Start date

Mumbai (Mahārāshtra)
See map
"A" Road, Churchgate Mumbai , 400020

Start date

On request

Questions & Answers

Add your question

Our advisors and other users will be able to reply to you

Who would you like to address this question to?

Fill in your details to get a reply

We will only publish your name and question


Course programme

Syllabus for T.Y.B.A. - Economics Major
1. Pricing under Imperfect Competition: Monopolistic Competition - Price output decisions under
monopolistic competition - Chamberlin's alternative approach.
Pricing under Oligopoly: Cournot's model of oligopoly - Kinky demand curve hypothesis - Collusive
agreements - Price leadership - Concepts in game theory.
2. Pricing of Factors of Production and Income Distribution: Factor pricing in perfectly competitive
markets - Factor pricing in imperfect competitive markets - Modern Theory of rent - Wage determination
under collective bargaining - Bilateral monopoly - Lonable funds theory of interest - Risks, uncertainty
and profits.
3. General Equilibrium and Social Welfare: Interdependence in the economy - General equilibrium and
its existence - The Pareto Optimality criterion of social welfare - Marginal conditions for a Pareto optimal
resources allocation - Perfect competition and Pareto optimality.
4. Post Keynesian Theories of Consumption: Permanent income hypothesis - Absolute income
hypothesis - Relative income hypothesis - Life cycle Hypothesis.
5. IS-LM Curve Model: Money market equilibrium (the LM curve) - Product market equilibrium (the IS
curve) - Equilibrium in the IS-LM curve model - Factors affecting equilibrium income and the interest rate
(monetary influences and real influences) - Relative effectiveness of monetary and fiscal policy.
6. Phillips Curve Analysis: Relationship between inflation and unemployment in the short-run and in the
7. Public Finance: Allocation of resources - Provision of public goods and merit goods - Voluntary
exchange model.
Theory of incidence of Taxation - Benefit and ability to pay approaches - Trade-off between equity and
Wagner's law of increasing state activities; Wiesman-Peacock hypothesis - Social cost - Benefit
8. International Trade: Theories of international trade Classical and modern - Measurement of gains from
trade and equilibrium terms of trade - Flexible exchange rates - Disequilibrium in balance of payments -
Corrective measures - Concept of currency crisis.
1. Economic Growth and Development: Meaning and distinction of growth and development - Measures
of economic growth and development - Factors affecting economic growth and development -
Characteristics of LDC's.
2. Theories of Economic Growth and Development: Schumpeter's Theory of economic development -
The big push theory - Rostow's stages of growth - The Harrod-Domar growth model.
3. Sectoral View of Development: Relative role of agriculture, industry and services sectors in economic
development with reference to India - The Lewis model - Impact of globalization on agriculture, industry
and services - Technical progress and appropriate technology - Terms of trade between agriculture and
industry - Role and significance of infrastructure in economic development.
4. Human Resource Development: Population growth in the development process - Theory of Human
Capital (Schultz approach) - Human Development Index (HDI) - General Development Index (GDI) and
Physical Quality of Life Index (PQLI) - The contribution of education, health and nutrition to growth and
development - Human resource policies.
5. Macro Economic Policy and Economic Development: Role of monetary and fiscal policies in the
developing economies - Sources of capital formation: Domestic and External - Role of aid vs. trade, FDI,
MNC's, IMF, World Bank (with respect to developing countries).
6. Role of State: Arguments for and against planning - Role and limitations of public sector enterprises -
Changing state policy - Disinvestments policy in India.
7. Environment and Ecology: Environment economy linkage - Environment as a necessity and luxury -
Population environment linkage - Environmental use and environmental disruption as an allocation
problem - Environment as a public good - Market failure for environmental goods.
8. Pollution Control: Prevention, control and abatement of pollution - Choice of policy instruments in
developing countries - Environmental legislation - Indicators of sustainable development.
1. Nature and role of fiscal System: Structure and Functions of the Financial System - Financial system
and economic development - Indicators of financial developments: Financial Interrelations Ratio (FIR),
Finance Ratio (FR), Intermediation Ratio (IR), New Issue Ratio (NIR) - Reforms in financial sector in
India (Narasimham Committee Reports, 1992 and 1998)
2. Financial Institutions: Functions of Reserve Bank of India (RBI) - Monetary Policy of the RBI -
Commercial Banks, Growth and Change in structure since 1991 - Definition and types of Non-Bank
Financial Intermediaries (NBFI's) - Their growth and impact on the India's economic development -
Measures taken to control their operations in India - Mutual Funds and Insurance business in India -
Insurance Regulatory and Development Authority of India.
3. Financial Markets: Role and structure of Money market, Capital market, Debt market and Equity
market - Call Money market, Treasury Bills Market, Commercial Bills market, Commercial Papers market,
Certificate of Deposits market and Discount market.
Government and Industrial Securities Markets - Primary and secondary market for securities - Role and
functions of Bombay Stock Exchange (BSE), National Stock Exchange (NSE) over the Counter Exchange
of India (OTCEI), Securities and Exchange Board of India (SEBI) - Investors protection - Measures taken
- Credit rating agencies in India - Integration of money and capital market.
Markets for derivatives, futures and options and other derivatives - Types, uses and pricing of
4. International Financial Markets: Nature, organisation and participants - Concepts of American
Depository Receipts (ADR's) and Global Depository Receipts (GDR's) - Role and functions of Asian
Development Bank.
PAPER VII (A) Elementary Mathematics and Statistics for Economic Analysis
Section I
Module1: Set Theory, Functions, limits and continuity:
1.1 Set Theory, functions and relations:
Fundamental Set Operations with Venn Diagrams: Union, Intersection,
DeMorgan's Law
Cartesian products of sets and relations
Properties of Binary Relations
Concept of Functions:
Algebraic (with graphical solution): Constant, linear, Quadratic and
Non: Algebraic: Logarithmic and Exponential (only concepts)
Inverse of Function
Application to Economic Theory:
Demand, Supply, Market Equilibrium, Effects of Taxation and Subsidy
On Equilibrium Price
Saving, Investment, Consumption, Income and Government
(Using basic Structural Identities)
1.2 Limits and Continuity:
Limit of a Function: at appoint, over an interval
Limit of Algebraic functions
Limit of Non-Algebraic functions: Logarithmic and Exponential
Continuity and Discontinuity at a point and over an interval
Module 2: Differentiation:
Concept of derivative as a slope of a curve.
Derivatives of Algebraic, Exponential and Logarithmic functions including: Product
Quotient and Chain rule with numerical applications.
Unconstrained Optimization Techniques with economic applications to profit
maximization, cost minimization and related problems.
Partial differentiation of functions:
Total differentiation
Homogenous functions
Euler's theorem
Cobb Douglas Production Function: Returns to Scale
Constrained optimization of the utility and production Functions with numerical
Module 3: Integration
Integration of a function: indefinite functions of algebraic, exponential and logarithmic
Definite Integrals with application
Economic Applications:
Revenue and Cost Functions
Consumer's and Producer's Surplus
Learning Curve
Co-efficient of Income Inequality Pareto's and Gini Co-efficient.
Module 4:Linear Algebra:
Matrices and Determinants:
Types of Matrices
Elementary Operations: Addition, Subtraction, Multiplication and Inverse of a matrix.
Concept of Determinant and its evaluation for (2x2), (3x3) case.
Cramer's Rule
Input-Output Analysis
Structure of a Linear Programming Problem: Objective function, Set of
Constraints and Non- Negative constraints.
Graphical solution
Formulation of the dual of a Linear Programming Problem
Section II
Module 5: Basic Statistical Concepts and Measures of Central Tendency
5.1 Basic Statistical concepts:
The concepts of primary and secondary data, varieties and attributes, population and samples with
numerical illustrations.
Graphical presentation of data: Histograms, Frequency, Polygons and Ogives.
5.2 Measures of Central Tendency:
Computation of arithmetic mean, median, and mode from raw data. Ungrouped and grouped
(tabulated data)
Properties of an ideal average.
5.3 Measures of Dispersion:
Absolute and Relative: Range and Co-efficient of range
Quartile deviation and co-efficient of quartile deviation
Standard deviation and co-efficient of variation
Concept of Skewness and Kurtosis.
Relationship Model:
Meaning and Types of co-relation
Determination of Co-relation by: Scatter diagram, Karl Pearson's product moment, Spearman's
Rank correlation (including repeated ranks)
Regression: Concept of Least Squares and Lines of Regression
Co-efficient of correlation from regression parameters.
Module 7: Time Series and Index Numbers
7.1 Time Series:
Components of Time Series: Secular trend, Seasonal component, Cyclical and irregular
Measurement of Trend:
Method of moving averages
Trend forecasting
7.2 Index Numbers:
Simple and Weighted Index Numbers
Average of Price Relatives
Fixed base and Chain base Index Numbers
Laspeyere's, Paasche;s and Fisher's Price Index Numbers
Cost of Living Index Numbers
Problems involved in the construction of Index Numbers Uses of Index Numbers.
Module 8: Probability:
Concept: Experiment, Sample Space, Events, Random Variable, Probability of an Event,
Permutation, Combination and Fundamental Principle.
Mathematical Expectation, Variance
Addition and Multiplication Theorem
Conditional Probability
Binomial and Normal Distribution.
Paper VII (B) Research and Methodology
Section I
Module I: Nature and Scope of Research in Economics.
Meaning of Research -Methodology-Research Process
Research in Social Sciences and physical Sciences
Types of Research: (1) Theoretical and Applied
(2) Qualitative and Quantitative Significance of Economic Research
Problems encountered by researchers in India.
Module 2: Research Design:
Definition and selection of the research problem
Meaning and types of research design
Major steps in preparing a research design.
Evaluation of research design.
Module 3: Primary and Secondary data
Observation method
Interview method
Data collection through schedules and questionnaires
Census and Sample survey- Criterion of Good Sample,
Choice of Sample
Different methods of Sampling Probability and Non-probablity methods
Sampling and non-sampling errors.
Module 4: Presentation and Elementary Analysis of Data
Classification and tabulation
Frequency curves, Histograms, Polygon
Measures of Central Tendency: Mean, Median, Mode:
Dispersion: Standard Deviation, and co-efficient of Variation.
Section II
Module 5: Advance Analysis of Data
Co-relation: Person's and Spearman's
Two Variables Linear Regression Analysis: Principle of Least Square.
Time Series Analysis- Components Estimation of Trend:
Moving Average and Linear Trend
Module 6: Index Number
Index numbers as a comparative tool.
Simple and Composite Price Index Numbers (weighted and unweighted)
Laspeyre's, Paasche's and Fisher's Price Index Numbers.
Cost Of Living Index Numbers
Concept of Wholesale Price Index Numbers
Uses of Index Numbers
Problems involved in the construction of Index Numbers.
Module 7: Testing and Hypothesis
Definition of a hypothesis
Types of Hypotheses
Role of a Hypothesis
Criteria of a good Hypothesis
Null and Alternative Hypothesis, Type 1 and 2 errors
Level of Significance.
Paper VIII (B) History of Economic Thought
Section I
1. Early Period: Mercantilism main characteristics: Thomas Mun- Physiocracy: Natural order,
primacy of agriculture, social classes, Tableau Economique, Taxation.
2. Classical Period:
A Adam Smith-Division of labour-theory of value, capital accumulation, distribution, views on
trade, economic progress: David Ricardo- Value, Theory of rent, distribution, ideas on economic
development and international trade.
B ThomasR.Malthus-Theory of population, theory of gluts: Karl Marx- dynamics of social
change, theory of value, surplus value, profit and crisis of capitalism: Economic ideas of J.B. Say,
J.S.Mill: Historical School-Senior, List.
3. Marginalists:- Jevons to Fisher: The Marginalist revolution: Jevons, Walras Bohm Bawark,
Wicksell and Fisher.
Section II
4 Marginalist: Marshall to Schumpeter: Role of time in price determination, economic
methods, ideas on consumer's surplus, elasticities, prime and supplementary costs,
representative firm, external and internal economies, quasi rent, organization as a factor to
production, nature of profits: Pigou: Welfare economics, Schumpeter: role of entrepreneur
and innovations.
5 Keynesian Ideas: The aggregate economy, Liquidity Preference Theory and Liquidity trap,
Marginal Efficiency of Capital and Marginal Efficiency of Investment, wage rigidities,
underemployment equilibrium, role of fiscal policy: deficit spending and public works,
multiplier principle, cyclical behavior of the economy, uncertainty and role of expectations,
impetus to economic modeling.
6 Indian Economic Thought: Modern Economic Ideas: Naoroji, Ranade, R.C.Dutt and M.N
Roy, Economic ideas of Gandhi: Village, Swadeshi: Place of Machine and labour, Cottage
industries, trusteeship. Gadgil: Co-operation as a way of life and strategy of development.
Mahanobis and Wage Goods Models on Economic Developments.
PAPER V111 - International Economic Policy and Practice
Section -1
1. Importance of study of international economics:
Inter-Regional and International Trade; Theories of cost advantage: Absolute Advantage; Comparative
Advantage and Opportunity Cost, Hecksher-Ohlin-Theory of trade - factor abundance: two criteria -
physical criterion and price criterion. Role of Dynamic Factors i.e. Change in tastes, Technology and Factor
Endowments in explaining Emergence of trade; Role of factor accumulation - The Stopler - Samuelson
Theorem - The Rybczynski Theorem, Trade & Growth.
2. Terms of Trade and Policies:
Importance of terms of trade in the theory of trade - Doctrine of reciprocal demand and offer curve analysis -
its importance in changes in terms of trade - Exim policy 2002 - 07, Instruments of Export Promotion
measures (SEZ, 100% EOUs ,Subsidies and Incentives ,Export Promotion Council and Boards), Institutional
Framework for Export Promotion - Exim Bank, ECGS, DGFT -Agriculture and Export Promotion.
3. Balance of payments:
Meaning and components of Balance of Payments, Equilibrium and Disequilibrium in balance of payments -
measures to correct balance of payment disequilibrium - devaluation: expenditure switching policy, effects of
evaluation, Marshall - Learner condition.
Balance of payments of India (Pre and Post 90's) - persistent deficit and recent surplus in balance of
payments, causes and consequences - measures adopted by the government in relation to balance to payment
4. Foreign Exchange Rate:
Concepts: Spot and Forward rates - Foreign Exchange rate determination - flexible exchange rate - (Clean
and dirty float) - interrelationship between exchange rates and interest rates.
Exchange rate system in India: Manages Floating, current and capital account convertibility and their impact
Section -2
5. Regional Economic co-operation:
Forms of economic co-operations - Custom Union, free trade areas and cartels, regionalism - European
Union (EU), North American Free Trade Association (NAFTA) - Associations of South Fast Asian Nations
6. Emerging New International Economic Order:
GATT - Uruguay Round, WTO: WTO Agreements - Dispute Settlement Mechanism - Impact of WTO on
LDCs and India.
7. International Financial Institutions and International Debt Problems:
IMF, World Bank, Asian Development Bank (ADB) - their role with special reference to India.
Global Economics Crisis - South East Asian Crisis and lesson for India, International Debt Problems -
Emerging Global Financial Architecture.
8. Role of Foreign Capital Flow:
Factors determining Foreign Investment - FDI and portfolio investment, foreign investment and Role of
MNCs in India.
PAPER 1X - Financial Economics
1. Introduction:
Meaning and scope of financial economics
Relationship of finance to economic and accounting significance of finance in economic development - Role
and functions of Financial Manager - Organization of finance function - sources of financial information:
newspapers, Journals, and Magazines in the field of finance and banking, financial services, Company and
Supplementary data.
2. Forms of business organization :
Types and objectives of business organizations - Sole Proprietorship - Partnership - Joint Stock
Companies/corporations/private and public limited companies -MNCs, Joint ventures.
3. Sources of finance:
Short and long term finance - Long term finance: Self Financing, Retailed Earning, Equity, Debentures, term
loans from banking and non- banking institutions. Company deposits, Depreciation - Importance, practices
and Determinants of Dividend Policy -Kinds of Dividend Policy.
4. Market for corporate securities:
Meaning of capital market, role of capital market in economic development - Types: Primary New Issue
Market (NIM) and secondary market (stock exchange) - their functions and recent development -RBI/SEBI
as regulating authorities of financial market.
5. Capital Budgeting:
Meaning and significance of capital budgeting - process of capital budgeting - methods of investment
appraisal - pay back period(PBP), Average rate of return (ARR), Net present value & internal rate of return -
risk and uncertainty - risk Vs uncertainty - Types and causes of business risk.
6. Financial Statement:
Balance sheet and profit & loss account. Basic concepts, contents and composition - income statement: basic
concepts, contents and composition.
Ratio Analysis - meaning, significance, types: liquidity, leverage, turnover, profitability and valuation (with
numerical examples)


Price on request