Name of the department                                    :Economics                                                         
Year of establishment                                          :1967(UG) & 2011(PG)
Name of the Program/Courses                            :UG/PG
No. of the Teaching posts sanctioned                 :4
No. of the Teaching posts filled                            :4
Annual/Semester/Choice-Based Credit System : Annual (CBCS)in UG & Semester (CBCS)in PG

Course Structure

There are a total of four core courses (DSC) in economics that students are required to take across the first two years. All the core courses are compulsory. In addition to core courses in economics, a student of BA Economics will choose four Discipline Specific Elective (DSE) Courses of which two will be from Economics and two from the second subject of study. The Discipline Specific Elective (DSE) Courses are offered in the third year and the two DSE courses in Economics will be selected by a student from a set of courses specified. It is recommended that each college should offer at least three Discipline Specific Elective (DSE) Courses in the third year to allow the students some minimal element of choice. SEC courses are offered in the second and third years of study and three such courses have to be selected. The student of BA in Economics will select any two Generic Elective Courses (GEC) from Unrelated Discipline(s)/Subject(s) other than Economics and also other than the second subject of study. Generic Elective Courses (GEC) are interdisciplinary in nature and as such have to be selected from subjects other than both the first (i.e. Economics) and the second subject of study. Due care has to be taken to select those GECs that complement the Core courses of study (both Economics & and the second subject of study). For students from other Discipline(s)/Subject(s) who opt for GEC in Economics, of the two Generic Elective Courses, GEC I is offered without any internal choice and for GEC II students may choose any one out of three courses offered. The students must be provided adequate guidance/counselling while selecting the two GECs.

Types of courses offered by the Department of Economics for BA Economics (Pass Course)

Learning Outcome-Based Approach

The B.A. (Pass Course) Economics programme provides a firm basis for much of the advanced thinking in the Economics discipline. It provides the student with a logical paradigm for modelling and interpreting the behaviour and interactions of households, firms, and government institutions. The programme is consistent with global standards in the Economics discipline. It offers training that is comparable to that of an undergraduate student at the world’s best universities. The curriculum allows students to choose elective courses from a set of courses with contemporary relevance, thereby offering students the flexibility to prepare for careers in academia, law, management, journalism, government, and many other fields.

Graduate Attributes

Upon completion of this programme, a student will have the necessary skills to understand and analyse in a logical manner all major economic phenomena. A student will be able to analyse government policies and regulations and demonstrate their significance. Knowing how an economy functions, and how decisions are made by consumers, producers, and regulators, the student will have the necessary skills to identify, analyse, and solve problems in a logical and efficient way. The programme provides the basic ingredients of economic theory and the opportunity to learn how to process and analyse economic data based on sound statistical principles, in order to arrive at economically meaningful conclusions.

Programme Objectives The programme aims to :

• Train students in basic economic theory;
• Equip students with the mathematical and statistical techniques necessary for a proper understanding of the discipline;
• Discuss real world economic issues and problems facing the country and the world;
• Enable students to understand proper policy responses to economic problems;
• Train students to collect primary data and learn sampling techniques;
• Train students to use statistical and econometric methods to arrive at conclusions about the validity of economic theories;
• Train students to learn the art of economic modelling.

Programme Learning Outcomes Students will :

• Get an understanding of basic economic theory;
• Learn the mathematical and statistical techniques necessary for a proper understanding of the discipline;
• Get an introduction to real world economic issues and problems facing the country and the world;
• Gain an understanding of proper policy responses to economic problems;
• Get trained to collect primary data and learn sampling techniques;
• Learn to use scientific empirical methods to arrive at conclusions about the validity of economic theories;
• Get trained in the art of economic modelling.
• Students will understand and demonstrate core micro-economic terms, concepts, and theories.
• Students will be able to differentiate between positive and normative statements.
• Students will be able to analyze data to solve complex economic problems.
• Students will understand general economic concepts (supply & demand, comparative advantage, opportunity cost, etc
• Students will be able to explain how fiscal and monetary policies can be used to promote equity.
• Students will be able to identify key macroeconomics indicators, and measures of economic change, growth, and development
• Students will be able to identify and explain the key concepts underlying comparative advantage and market failure.
• Students will be able to demonstrate an ability to conceptualize problems analytically.
• Students will be able to identify appropriate tools to make an economic evaluation.
• Students will be able to assess an economic situation in which they find themselves from an ethics perspective, using appropriate analytical tools to arrive at ethically defendable choices.

M.A. Economics (Courses) From 2011 to 2021

First Semester

Course-I Microeconomics
Course-II International Economics
Course-III Elementary Mathematical Economics

Second Semester

Course-IV Macro Economics
Course-V Money and Banking
Course-VI Basic Statistics

Third Semester

Course-VII Economics of Development and Planning
Course-VIII History of Economic Thought
Course-IX Anyone from the following optional courses

• Agricultural Economics
• Regional Economics
• Economics of Population
• Basic Econometrics

Fourth Semester

Course-X Indian Economy
Course-XI Public Finance
Course-XII Anyone from the following optional courses

• Labour Economics
• Industrial Economics
• Environmental Economic

MA Economics (CBCS) 2022-23

Scheme of the Course Division

SCHEME OF COURSES

Four categories of Courses are on offer as follows :

Table 2 : The number & type of courses to be completed in each semester
1. Discipline Specific Core Compulsory Courses (14 Core Courses; {Core})
2. Discipline Specific Elective Courses (2 Elective Courses; {DSE})

Master of Arts in Economics (MA Economics) Programme Outcome

Over the duration of study, students are expected to acquire:

• Economic reasoning to view and analyze the workings of the world by evaluating the cost of an action with the benefits generated.
• Ability to identify and solve of economic problems so as to contribute to the development of the subject through creative analysis and evaluation.
• Critical and creative thinking to analyze everyday problems faced by society, evaluate specific policy proposals, compare arguments with different conclusions to a specific societal issue and assess the role played by assumptions in such arguments.
• Scientific temperament of logical and rational thinking.
• Ethically articulate and apply values and ideals that demonstrate awareness of ongoing socio-economic challenges.
• Analytical tools for the application of appropriate quantitative/qualitative techniques used in economics along with ICT, software etc.
• Resource management to plan usage of resources at different levels.
• Ability of research and development to apply principles of economics to analyze and evaluate issues of relevance.
• Specialization and employability through the development of a deeper understanding, creativity, originality, analytical and critical skills.
• Research temperament through the use of statistical and econometric tools and techniques that help in drawing inferences about various issues of economic importance and thereby contribute to the development of the subject.

Programme Specific Outcome

Upon completion of this Master’s degree programme, the students are expected to attain:

• an understanding of the theoretical and practical dimensions of economics;
• a scientific temperament through provisioning of concurrent input;
• exposure to a wide range of economic specializations and familiarization with different branches of economics.