Program objectives (Pos)

The B.A. Economics students program objectives are as follows

• Economic graduates will be able to assess situation and identify main economic problems and

demonstrate an ability to offer alternative solution to problems. This will enhance student’s critical thinking skill.

• Graduate of economics will be able to demonstrate their proficiency and skill necessary to attract the potential employers in the field of banking, insurance companies, marketing, taxationand also in the

field of teaching.

Program Specific outcome (PSOs)

On successful completion of the B.A. Economics program, the students are able to

• Have the capability to demonstrate comprehensive knowledge and understanding on the basic concepts and theories that form a part of this programme.
• Expand the capacity to analyse and evaluate the current events from an economic perspective.
• Expand skill in practical application of economic theory.
• Possess an ability to offer alternative solution on policy issues.
• Demonstrate the ability to analyse, interpret and draw valid conclusions from quantitative and qualitative data.
• Communicate effectively on specific economic issues and present complex information in a clear and concise manner.
• Build strong foundation for pursuing continuous learning.

Program objectives (Pos)

The M.A. Economics students program objectives are as follows

To develop an advanced theoretical understanding of consumer behaviour and decision – making.

To develop a theoretical understanding of strategic behaviour of economic agents.

Able to think critically about economic models, evaluating their assumptions and implications.

Use data to describe the relationships among variables in order to analyse economic issues.

Student will communicate economic thought and will be able to analyse in both written and oral context to varied audience.

Program Specific outcome (PSOs)

Keeping the programme objectives in view, the specific learning outcomes of Master in Economics are:

• Understanding the basic assumptions in various economic theories and enhance capabilities of developing ideas on them.
• Prepare and motivate students for research studies in economics especially by developing questionnaire, collecting primary data through field survey.
• M.A. Economics syllabus contains main subject content of State Level and National Level competitive examinations, banking service, railway service examinations and other competitive examinations the

students of Economics can easily crack such examinations and can become successful in getting employment opportunities.

• Motivate students in preparing for various competitive examinations, NET, SET, Indian Economic Service etc., by developing or gaining value additional discipline/ concentration etc.

Course Outcome of M.A. Economics Program

M.A. First Semester

On successful completion of Economics Course, the students are able to

Course Name

Course Outcomes

Micro Economic Analysis -

• Understand the core microeconomics concepts that economics use to understand the process of decision making by an economic agent.
• Would be able to apply mathematical tools and techniques to study behaviour of economic agents.
• Understand the strategic behaviour of economic agents and formulate them in a game theoretical framework.
• Able to compute the outcome of normal form games, mixed strategy and sequential games.

Macro-Economic Analysis - I

• Develop an understanding of the interrelationships among the various macroeconomics variables and the way they impact upon the working of the economy as a whole, thereby determining the course of the economy.
• Gain in depth knowledge of the Keynesian vs monetarist policy formulation as well as the theoretical justifications of such policies, together with the effectiveness of alternative policies with respect to the policy goal.
• Get acquainted with disequilibrium transactions and quasi – equilibrium situation in general disequilibrium macro – models.
• The second half includes the monetary theory expositions by Sir, John Hicks. The course aims to provide an understanding of money and classical and Keynesian definitions and motives for holding money.
• The course prepares students with theoretical base on the evolution of money and deeper insights into the utility of money in different macroeconomic frame work.

Quantitative Methods - I

• Able to calculate mean, median, mode and can apply in research areas.
• Demonstrate skewness and Kurtosis with their applications.
• Find out the correlation coefficient and understand the nature and degree of relationship which can be used for future planning and forecasting.
• Know the meaning of simple linear regression, uses and the difference between correlation and regression.
• Explain the problem of construction of index number
• Identify the time series model and uses in measuring changes in industrial production.

Economics of growth and Development - I

• Understand the basic requirement of economic development and growth.
• Extract the knowledge on planning techniques for economic development.
• Appraise the various planning models and achievements.
• Diagrammatize the various growth models on balance growth and unbalanced growth.
• Identify the best models of growth which can implemented in India.

M.A. Second Semester

Micro Economic Analysis - II

• Gain analytical skills for understanding market structure.
• Analyse the characteristics and pricing methods under monopoly, monopolistic competition, duopoly and oligopoly.
• Demonstrate the theory of wages, rent, interest and profits.
• Analyse the marginal productivity theory of distribution.
• Understand how factor market works. Illustrate basic tools in welfare economics and understand the concept of social welfare functions.

Macro Economic Analysis - II

• Gaining the concept of multiplier and its effects in an economy.
• Accumulate knowledge on operation of accelerator and Multiplier in an economy.
• Demonstrate the general equilibrium model with various sectors.
• Sketch the various theories of trade cycle and its relevance.
• Framing the macroeconomic policies through various theories.

Research Methodology and statistical Inference

• Get basic knowledge of research methodology and sampling techniques.
• Become familiar with various statistical tools like t – test, F -test, Z – test and

analysing the results .

History of Thought

• Understand the nature and scope of economic thought.
• Enlighten the students on the factors give rise to mercantilism and Physiocracy.
• Understand the features of classical school and classical Economists.
• Gain knowledge on the economic contributions of Alfred Marshall, A.C. Pigou and Pareto Thought.
• Understanding the contribution of Marginal School and Historical School to Economic thought.
• Know about the theories of Neo – Classical and Keynesian theory and their uses.
• Analyse the contribution of recent Indian economic thought.

M.A. Third Semester

Public Economics

• Understand the central, state financial relationship.
• Describe the various local financial system.
• Deliver effectively the preparation of budget.
• Identify the role of and implementation of GST in India.
• Understand the needs of public borrowing to meet the financial deficit.

International Economics

• Learn about the classical trade models in money terms, Classical trade models for multiple goods and multiple countries and understand the role of transportation cost in trade.
• Make students familiar with the empirical test of Heckscher Ohlin theory, various alternative trade theories like Human skills Theory, Product Life Cycle Theory, Imitation Lag Hypothesis, inter and Intra – Industry Trade.
• Understand about various instruments of trade policies and about the costs and benefits of imposition of tariff and about the advantages and disadvantages of free trade.

Labour Economics - I

• Demonstrate a sound understanding of the core concepts and tools of labour economics and policy.
• Apply economic principles and reasoning to critical analyse labour market phenomena and contemporary academic literature.
• Develop an understanding of the future role work and job in evolving social and Economic environments.
• Gain knowledge and understanding of labour market and related social issues.
• Critically evaluate government policies affecting work and jobs.

Agricultural Economics

- I

• Learn about the structure and characteristics of the agriculture sector in less developing countries like India.
• Understand the various constraints specific to less developed agriculture.
• Exposure to theories regarding the operation of various institutions within the agricultural sectors of LDCs
• Develop an understanding of the manifold obstacles to agriculture development, and the policies adopted to overcome them, with particular emphasis on the Indian agricultural scenario.

M.A. Fourth Semester

Indian Economic Policy and Issues

• Get basic knowledge on national income accountings, various issues involved in agriculture, industrial, financial, trade sectors, public institutions and finally

human resources development.

Demography

• Gain a sound command over the basic tenets of demography as well as key demographic issues and illustrations in the context of a large and diverse country like India.
• Grasp a clear understanding of the inter – relationship between demography and the process if economic development.
• Comprehend the basic components of population (fertility, Mortality, Migration).
• To study establishes theories of population.
• Explore various aspects of the population policy and to study its impact on socio economic issues.

Labour Economics - II

• Develop a critical understanding regarding history of work and theory of wages.
• Command in depth understanding regarding rural and urban labour.