An overview of key courses in Economics, focusing on Indian economic development, comparative analysis, and foundational principles.
01. EEC-06: Patterns of Economic Development A Comparative Study
This course delves into a comparative analysis of the development paths undertaken by various nations. It moves beyond a singular focus on one country to understand the broader patterns and determinants of economic progress. Key themes include:
Models of Development: Examination of different theoretical frameworks of economic development, including capitalist, socialist, and mixed economy models.
Comparative Analysis: A study of the development experiences of different countries, such as the market-led growth of Western nations, the state-dominated development of the former Soviet Union, and the unique trajectories of countries in Asia, Africa, and Latin America.
Factors of Development: Analysis of the roles of various factors in the development process, including capital formation, technology, human resources, and institutional quality.
Contemporary Issues: Exploration of modern challenges in a comparative context, such as globalization, inequality, environmental sustainability, and the role of international institutions.
02. EEC-07: Industrial Development in India
This course provides a specialized focus on the evolution of India’s industrial sector since independence. It examines the policies, growth, and structural changes that have characterized India’s journey towards industrialization. Core topics include:
Industrial Policy Resolutions: An in-depth look at the industrial policies of 1948, 1956, and subsequent pronouncements that shaped the early phase of industrialization, emphasizing the public sector’s role.
Economic Reforms and Industrial Growth: Analysis of the post-1991 liberalization policies, including delicensing, privatization, and opening up to foreign investment, and their impact on industrial performance.
Structure and Performance: A review of the growth and productivity trends in Indian industry, including the roles of the public and private sectors, and the development of small-scale industries.
Key Industries: Sector-specific analysis of major Indian industries such as iron and steel, cotton textiles, information technology, and pharmaceuticals.
03. EEC-10: National Income Accounting
This course focuses on the methods and concepts used to measure the economic activity of a nation. It is a fundamental tool for assessing the performance and health of an economy. The curriculum typically covers:
Core Concepts: Detailed definitions of Gross Domestic Product (GDP), Gross National Product (GNP), Net National Product (NNP), personal income, and disposable income.
Methods of Measurement: A thorough understanding of the three primary methods for calculating national income: the product (or value-added) method, the income method, and the expenditure method.
Circular Flow of Income: The conceptual framework of how income and expenditure move through an economy between households and firms.
Importance and Limitations: Discussion on the significance of national income estimates for economic planning and policy, as well as their limitations, such as the exclusion of the informal economy and non-market transactions.
04. EEC-11: Fundamentals of Economics
This introductory course lays the groundwork for understanding the basic principles that govern economic behavior. It is typically divided into two main parts: microeconomics and macroeconomics.
Microeconomics: Focuses on individual economic agents. Key topics include the theory of supply and demand, consumer behavior, production and costs, and different market structures (perfect competition, monopoly, monopolistic competition).
Macroeconomics: Deals with the economy as a whole. It covers concepts like national income determination, inflation, unemployment, monetary and fiscal policies, and the basics of international trade and finance.
05. EEC-12: Indian Economic Development since Independence
This course provides a comprehensive overview of the Indian economy’s performance and challenges since 1947. It traces the nation’s economic journey through different policy regimes.
State of the Economy at Independence: An assessment of the Indian economy inherited from British colonial rule.
The Era of Planning (1951-1991): A detailed study of the objectives and outcomes of the Five-Year Plans, with a focus on agriculture, industry, and poverty alleviation.
Economic Reforms: Analysis of the structural adjustment programs initiated in 1991 and their impact on various sectors of the economy.
Contemporary Issues: Examination of persistent challenges such as poverty, unemployment, inequality, and infrastructural bottlenecks.
06. EEC-13: Elementary Statistical Methods and Survey Techniques
This course equips students with the basic quantitative tools required for economic analysis and research. It focuses on the collection, analysis, and interpretation of economic data.
Descriptive Statistics: Methods for summarizing data, including measures of central tendency (mean, median, mode) and measures of dispersion (range, standard deviation).
Correlation and Regression: Techniques for examining the relationship between economic variables.
Probability and Sampling: Fundamentals of probability theory and different methods of sampling (random, stratified) used in collecting data.
Survey Techniques: Practical guidance on designing questionnaires, conducting surveys, and collecting primary data for economic investigation.
07. EEC-14 / BECE-214: Agricultural Development in India
These courses provide an in-depth analysis of the role and performance of the agricultural sector in the Indian economy. They cover the evolution of agricultural policies and the challenges faced by this critical sector.
Role in the Economy: The contribution of agriculture to national income, employment, and food security.
The Green Revolution: A study of the technological and institutional changes that transformed Indian agriculture in the 1960s and 70s.
Institutional Factors: Analysis of land reforms, the agricultural credit system, and the marketing of agricultural produce.
Contemporary Challenges: Examination of current issues such as farmer distress, declining productivity growth, water scarcity, and the impact of WTO regulations on Indian agriculture.
08. EEC-19: Indian Financial Systems
This course focuses on the structure, functioning, and regulation of India’s financial system. It examines the key institutions and markets that channel savings into investment.
Components of the Financial System: An overview of financial institutions (banks, insurance companies, mutual funds), financial markets (money market, capital market), financial instruments, and financial services.
The Banking Sector: The role of the Reserve Bank of India (RBI) as the central bank, and the structure and performance of commercial banks in India.
Capital Markets: The functioning of the primary and secondary markets for securities, and the role of the Securities and Exchange Board of India (SEBI) as the regulator.
Financial Sector Reforms: A review of the major reforms undertaken since 1991 to make the Indian financial system more efficient and competitive.
09. BECE-002: Indian Economic Development Issues and Perspectives
Similar to EEC-12, this course offers a broad perspective on India’s post-independence economic development, but with a potential emphasis on contemporary issues and differing viewpoints on development strategies.
Development Paradigms in India: A critical look at the Nehruvian model of development, the shift towards market-oriented policies, and alternative development perspectives.
Sectoral Growth: An analysis of the performance of the agricultural, industrial, and service sectors.
Social Development: A focus on progress and challenges in key social indicators related to health, education, and poverty reduction.
Debates on Economic Policy: Discussion on ongoing debates concerning issues like subsidies, privatization, labor reforms, and fiscal policy.
10. BECE-016: Economic Development Comparative Analysis and Contemporary Issues
This course, similar to EEC-06, focuses on a comparative study of economic development but places a stronger emphasis on contemporary global issues and their impact on developing nations.
Theories of Growth and Development: A review of classical, neoclassical, and modern theories of economic growth and development.
Comparative Development Experiences: Analysis of the development paths of different regions, with a focus on drawing policy lessons.
Globalization and Development: An in-depth look at the opportunities and challenges presented by globalization, including trade, finance, and technology transfer.
Contemporary Global Challenges: A focus on pressing modern issues such as climate change, international migration, global health crises, and the Sustainable Development Goals (SDGs).