Semester-VII (Without Research)

Major Subject
1 ECBOMJ7001 Advanced Microeconomics 04 04 01 30 70 100
2 ECBOMJ7002 Economic Development and Policy in India-I 04 04 01 30 70 100
3 ECBOMJ7101 Monetary Economics 04 04 01 30 70 100
Vocational & Skill Enhancement Course
1 ECBOMJ7102 Introduction to Research Methodology 02 02 01 30 70 100
Elective (Choose anyone of the following)
1 ECBOMJ7003 International Finance 04 04 01 30 70 100
2 ECBOMJ7004 Time Series and Panel Data Analysis 04 04 01 30 70 100
3 ECBOMJ7005 Regional Economics 04 04 01 30 70 100
4 ECBOMJ7006 Behavioural Economics 04 04 01 30 70 100
5 ECBOMJ7007 Islamic Economics 04 04 01 30 70 100
6 ECBOMJ7008 Institutional Economics 04 04 01 30 70 100
Seminar
1 ECBOMJ7S01 Seminar 04 40 60 100
Semester-VIII
Major Subject
1 ECBOMJ8001 Advanced Macroeconomics 04 04 01 30 70 100
2 ECBOMJ8002 Economic Development and Policy in India-II 04 04 01 30 70 100
3 ECBOMJ8101 Demography and Health 04 04 01 30 70 100
Elective (Choose anyone of the following)
1 ECBOMJ8003 Data Analysis 04 04 01 30 70 100
2 ECBOMJ8004 Economics of Insurance 04 04 01 30 70 100
3 ECBOMJ8005 Urban Economics 04 04 01 30 70 100
4 ECBOMJ8006 Fundamentals of Survey Research 04 04 01 30 70 100
5 ECBOMJ8007 Financial Econometrics 04 04 01 30 70 100
Project/Internship/Community Engagement & Services
ECBOMJ8D01 06 40 60 100
AWARD OF BACHELOR OF ARTS (HONS.) (After 4 Years: 176 Credits)
 B.A. (Hons.) (With Research)
Semester-VII
Major Subject
1 ECBOMJ7001 Advanced Microeconomics 04 04 01 30 70 100
2 ECBOMJ7002 Economic Development and Policy in India-I 04 04 01 30 70 100
3 ECBOMJ7103 Monetary Theory and Policy 02 02 01 30 70 100
Elective (Choose anyone of the following)
1 ECBOMJ7003 International Finance 04 04 01 30 70 100
2 ECBOMJ7004 Time Series and Panel Data Analysis 04 04 01 30 70 100
3 ECBOMJ7005 Regional Economics 04 04 01 30 70 100
4 ECBOMJ7006 Behavioural Economics 04 04 01 30 70 100
5 ECBOMJ7007 Islamic Economics 04 04 01 30 70 100
6 ECBOMJ7008 Institutional Economics 04 04 01 30 70 100
Vocational & Skill Enhancement Course
1 ECBOMJ7104 Advanced Research Methods in Economics 04 04 01 30 70 100
Dissertation
1 ECBOMJ7D01 Dissertation 04 40 60 100
Semester-VIII
Major Subject
1 ECBOMJ8001 Advanced Macroeconomics 04 04 01 30 70 100
2 ECBOMJ8002 Economic Development and Policy in India-II 04 04 01 30 70 100
3 ECBOMJ8102 Population Studies 02 02 01 30 70 100
Elective (Choose anyone of the following)
1 ECBOMJ8003 Data Analysis 04 04 01 30 70 100
2 ECBOMJ8004 Economics of Insurance 04 04 01 30 70 100
3 ECBOMJ8005 Urban Economics 04 04 01 30 70 100
4 ECBOMJ8006 Fundamentals of Survey Research 04 04 01 30 70 100
5 ECBOMJ8007 Financial Econometrics 04 04 01 30 70 100
Dissertation
1 ECBOMJ8D02 Dissertation 08 40 60 100
AWARD OF BACHELOR OF ARTS (HONS.) WITH RESEARCH (After 4 Years: 176 Credits)
 Max. Marks: 100
Syllabus for B.A. Economics Sessional: 30
Department of Economics, AMU, Aligarh End Sem. Exam: 70
Semester-I
ECBOMJ1001, Microeconomics-I
Major Credits: 04
(Compulsory)

Course Objectives: This is the first part of the two part course and is designed to expose
students to the basic principles of economics. This course has the objective of equipping the
students in a rigorous and comprehensive manner with the various aspects of consumer
behaviour, production theory, cost analysis and market structure.

Course Outcomes: The students will be able to:

1. Know the basic concepts of economics.
2. Understand the difference between microeconomics and macroeconomics.
3. Apprehend the behaviour of a consumer in terms of utility maximisation and price
determination under various conditions.
4. Learn about the cost and revenue and their role in determining the producer’s behaviour.
5. Understand various market structures and determination of output and price.

Unit-I: Consumer Behaviour

Microeconomics: Meaning, nature and scope; Methodology of economics; Resource scarcity
and choice to produce; Central problems of economics; Positive analysis versus normative
analysis; Demand and supply function; Law of demand, Elasticity of demand– Price, income
and cross elasticities, and their measurements; Elasticity of supply; Price determination;
Theory of consumer behaviour: Cardinal approach and consumer’s equilibrium, Ordinal
utility analysis- Indifference curve approach; Consumer’s equilibrium; Price, income and
substitution effects (Hicks and Slutsky approaches); Price consumption curve and income
consumption curve; Concepts of normal, inferior and giffen goods.
Unit-II: Production, Cost and Revenue
Production function; Law of variable proportions; Returns to scale; Factor substitution; Ridge
lines; Isoquants and iso-cost lines; Least cost combination of factors; Internal and external
economies and diseconomies; Cost function- Concepts of costs, Short and long run cost
analysis; Relation between expansion path and cost function; Concepts of revenue: Total,
average and marginal revenue and their relationships: Break-even analysis and its uses.
Unit-III: Market Structure-I
Pure and perfect competition; Equilibrium of the firm and industry under perfect competition;
Supply curve under perfect competition; Role of time element in the determination of value;
Imperfect competition- Meaning and features; Equilibrium of the firm under monopoly,
Discriminating monopoly, Equilibrium under price discrimination, Degree of monopoly
power.
Unit-IV: Market Structure-II and Welfare Economics
Monopolistic competition: Characteristics, Short run and long run equilibrium of firm;
Oligopoly: Features, Kinked demand curve hypothesis; Concepts of factor pricing- Marginal
productivity theory of distribution; Welfare economics- Concept and measurement; Pareto
optimality criteria; Concept of social welfare function.

Approved by BOS, Dept. of Economics and Faculty of Social Sciences in its meetings held on 18.05.2022 & 13.06.2022 respectively
References:

1. Gauld, J.P. and Edward P. L : Microeconomic Theory, Richard. Irwin,

Homewood.
2. Gravelle and Rees : Microeconomics; Pearson Education.
3. G.S. Maddala and E. Miller. : Microeconomics. McGraw-Hill International
Editions.
4. Henderson J. and R.E. Quandt. : Microeconomic Theory: A Mathematical
Approach, McGraw Hill, New Delhi
5. Heathfield and Wibe : An Introduction to Cost and Production Functions,
Macmillan, London.
6. Koutsoyiannis, A. : Modern Microeconomics, Macmillan.
7. Lipsey, R.G. and K.A. Chrystal. : Principles of Economics, Oxford University Press,
Oxford.
8. Mansfield, E. : Microeconomics, W.W. Norton and Company,
New York.
9. Ray, N.C. : An Introduction to Microeconomics, Macmillan,
Company of India Ltd Delhi.
10. R S. Pindyck and D.L. Rubinfeld : Microeconomics, Prentice Hall, India.
11. Samuelson, P.A. and W.D. : Economics, Tata McGraw Hill, New Delhi.
Nordhaus
12. Stonier, A.W. and D.C. Hague : A Textbook of Economic Theory, ELBS &
Longman Group, London.
13. Varian, H.R. : Intermediate Microeconomics: A Modern
Approach, East West Press, New Delhi.
 Max. Marks: 100
Syllabus for B.A. Economics Sessional: 30
Department of Economics, AMU, Aligarh End Sem. Exam: 70
Semester-I
ECBOMJ1002, Mathematical Methods-I
Major Credits: 02
(Compulsory)

Course Objectives: The knowledge of mathematics is nowadays almost essential to

understand the subject matter of economics. The students in this direction are expected to
have an elementary knowledge of the concept of functions, equations, graphs, matrices and
determinants. This course has been designed keeping in mind the aforesaid need of the
students. It emphasizes on the application of mathematics in economics.

Course Outcomes: The students will be able to:

1. Know the basic concepts of mathematics used in economics.
2. Understand the relevance of various mathematical methods.
3. Apply the various tools of mathematics in economics.
4. Develop analytical skills among the students.

Unit-I: Basic Concepts of Functions and Graphs

Sets and set operations; Functions and their properties; Types of functions- Constant,
polynomial, rational, exponential and logarithmic; Graphs and graphs of functions; Economic
applications of graphs; Calculation of simple and compound interest; Present and future value
of annuities; Arithmetic and geometric progression.
Unit-II: Equations
Equations: Different types of equations and their solutions- Linear equation, quadratic
equation- solution by using factorization and quadratic formula.
Unit-III: Matrix Algebra
Matrices: Meaning and types of matrices; Operation of matrices: Addition, subtraction,
multiplication; Determinants: Properties of determinants; Rank of matrix; Trace of matrix;
Minor, cofactor and inverse of a matrix; Solution to a system of simultaneous equations-
Crammer’s rule and matrix inversion method; Eigenvalues and eigenvectors of a matrix.
Unit-IV: Linear Model
Input- output model: Basic concepts and structure of Leontief’s open and static input-output
model; Solution for equilibrium output in a two and three industries model; Closed model.

References:

1. Allen, R.G.D : Mathematical Analysis for Economists, McMillan

Press, London.
2. Archibald, G.C. and Lipsey, R.G : An Introduction to Mathematical Treatment of
Economics, Weidenfeld and Nicolson.
3. Carl P. Simon and Lawrence : Mathematics for Economists, Viva Books Pvt.
Blume Ltd. New Delhi.

Approved by BOS, Dept. of Economics and Faculty of Social Sciences in its meetings held on 18.05.2022 & 13.06.2022 respectively
4. Chiang. A.C. : Fundamental Methods of Mathematical
Economics, McGraw-Hill.
5. Chiang A. C. & Kevin : Fundamental Methods of Mathematical
Wainwright Economics, McGraw-Hill.
6. Dowling, Edward T. : Introduction to Mathematics, Schaum’s Outline,
McGraw-Hill.
7. Harrison, Micheal : Mathematics for Economics and Finance.
Routledge.
8. Henderson, J.and R.E. Quandt. : Microeconomic Theory: A Mathematical
Approach, McGraw Hill, New Delhi.
9. Hoy.,M., J. Livernois, C. : Mathematics for Economics, Prentice Hall, India.
McKenna, R.Rees and T.
Stengos
10. Holden K. and Pearson A.W. : Introductory Mathematics for Economics and
Business, The Macmillan Press Ltd.
11. Jacques I. : Mathematics for Economics and Business,
Prentice Hall.
12. Knut Sydsaeter and Peter J. : Mathematics for Economic Analysis. Pearson
Hammond Educational Asia: Delhi.
13. Yamane, T. : Mathematics for Economists, Prentice Hall of
India, New Delhi.
 Max. Marks: 100
Syllabus for B.A. Economics Sessional: 30
Department of Economics, AMU, Aligarh End Sem. Exam: 70
Semester-I
ECBOMJ1003, Statistical Methods-I
Major Credits: 02
(Compulsory)

Course Objectives: In economics, the theories have been developed or confirmed on the
basis of observed data. So, a study with regard to the statistical tools becomes necessary for
the students in order to have clarity in economic theory. This course tries to impart knowledge
to the students about the basics of statistics and some statistical tools used in the analysis of
data. The paper is an attempt to let the students know about the arrangement and presentation
of data, various measures of central tendency, dispersion, and techniques of simple correlation
and regression.

Course Outcomes: After the completion of course, the students will:

1. Learn the basics of statistics and its uses.
2. Gain knowledge about better arrangement and presentation of data.
3. Become familiar with the concepts of simple statistical tools.
4. Comprehend in analyzing the data pertaining to various economic variables.

Unit-I: Classification, Tabulation and Diagrammatic Presentation of Data

Meaning and functions of statistics; Applications of statistics; Relationship between statistics,
economics and mathematics; Kinds of classification; Advantages of classification; Primary
rules to be followed while classifying; Methods of presentation of data; One and two
dimensional diagrams; Technique of preparing a graph: Histograms, Mixed graphs, Range
graphs.
Unit-II: Measures of Central Tendency and Dispersion
Meaning and objectives of central tendency; Requisites of an ideal average; Arithmetic mean,
Geometric mean and Harmonic mean: Concept and computation for individual, discrete and
continuous series, Merits and limitations; Weighted mean; Median and partition values:
Concept and computation for individual, discrete and continuous series, Merits and
limitations; Mode: Concept and computation in individual, discrete and continuous series,
Merits and limitations; Measures of dispersion: Significance and properties, Absolute and
relative measures of dispersion; Range, Inter quartile range; Mean deviation and standard
deviation; Coefficient of variation; Relation between various measures of dispersion;
Skewness and kurtosis; Symmetrical Vs. asymmetrical distribution.
Unit-III: Skewness and Kurtosis
Difference between dispersion and skewness; Symmetrical distribution; Characteristics of
distribution; Meaning of skewness, Absolute and relative measure of skewness: Karl
Pearson’s and Bowley’s coefficient of skewness; Concept of moments: Moments around
mean and around an arbitrary value; Kurtosis: Meaning, measurement and interpretation of
results.

Approved by BOS, Dept. of Economics and Faculty of Social Sciences in its meetings held on 18.05.2022 & 13.06.2022 respectively
Unit-IV: Correlation and Regression
Correlation: Types and degrees of correlation; Calculation of coefficient of correlation- Karl
Pearson and rank correlation; Partial and multiple correlation analysis; Interpretation of r,
probable error and coefficient of determination; Regression analysis- Estimation of regression
line in a bivariate distribution- Least squares method, properties of regression coefficients.

References:

1. Croxton, F.E., D.J. Cowden : Applied General Statistics, Prentice Hall, New
York and S. Klein.
2. Goon, Gupta and Dasgupta : Fundamental of Statistics, Vol. I &II, World
Press.
3. Goon, Gupta and Dasgupta : Basic Statistics, World Press.
4. Gupta, S.C. and V.K. Kapoor : Fundamentals of Applied Statistics Sultan Chand
& Sons.
5. Jay L. Devore : Probability and Statistics for Engineers, Cengage
Learning.
6. John E. Freund : Mathematical Statistics, Prentice Hall.
7. Nagar and Das : Basic statistics, Oxford University Press.
8. N. G. Das : Statistical Method (Part I & II), McGraw Hill
Companies.
9. Richard J. Larsen : An Introduction to Mathematical Statistics and
Applications, and Morris L. Marx Prentice Hall.
10. Spiegal, M.R : Theory and Problems of Statistics, Tata McGraw
Hill.
11. Thomas, R. L. : Using Statistics and Economics. McGraw Hill
Companies.
12. Yule and Kendall : An Introduction to the Theory of Statistics, Nabu
Press.
 Max. Marks: 100
Syllabus for B.A. Economics Sessional: 30
Department of Economics, AMU, Aligarh End Sem. Exam: 70
Semester-I
ECBOMN1004, Price Theory-I
Minor Credits: 04
(Compulsory)

Course Objectives: This is the first part of the two part course, and is designed to expose
students to the basic principles of economics. This course has the objective of equipping the
students in a rigorous and comprehensive manner with the various aspects of consumer
behaviour, production theory, cost analysis and market structure.

Course Outcomes: The students will be able to:

1. Know the basic concepts of economics.
2. Understand the difference between microeconomics and macroeconomics.
3. Apprehend the behaviour of a consumer in terms of utility maximisation and price
determination under various conditions.
4. Learn about the cost and revenue and their role in determining the producer’s behaviour.
5. Understand various market structure and determination of output and price.

Unit-I: Consumer Behaviour

Nature and scope of economics; Methodology of economics; Central problems of economics;
Positive analysis versus normative analysis; Demand and supply function; Law of demand,
Elasticity of demand– Price, income and cross elasticities, and their measurements; Elasticity
of supply; Price determination; Theory of consumer behaviour: Cardinal approach and
consumer’s equilibrium, Ordinal utility analysis- Indifference curve approach; Consumer’s
equilibrium; Price, income and substitution effects (Hicks and Slutsky approaches); Price
consumption curve and income consumption curve; Concepts of normal, inferior and giffen
goods.
Unit-II: Production, Cost and Revenue
Production function; Law of variable proportions; Returns to scale; Factor substitution; Ridge
lines; Isoquants and iso-cost lines; Least cost combination of factors; Internal and external
economies and diseconomies; Cost function- Concepts of costs, Short and long run cost
analysis; Relation between expansion path and cost function; Concepts of revenue: Total,
average and marginal revenue and their relationships.
Unit-III: Market Structure-I
Pure and perfect competition; Equilibrium of the firm and industry under perfect competition;
Supply curve under perfect competition; Imperfect competition- Meaning and features;
Equilibrium of the firm under monopoly, Discriminating monopoly, Equilibrium under price
discrimination, Degree of monopoly power.
Unit-IV: Market Structure-II and Welfare Economics
Monopolistic competition: Characteristics, Short run and long run equilibrium of firm;
Oligopoly: Features, Kinked demand curve hypothesis; Concepts of factor pricing- Marginal
productivity theory of distribution; Welfare economics- Concept and measurement; Concept
of social welfare function.

Approved by BOS, Dept. of Economics and Faculty of Social Sciences in its meetings held on 18.05.2022 & 13.06.2022 respectively
References:

1. Gauld, J.P. and Edward P. L : Microeconomic Theory, Richard. Irwin,

Homewood.
2. Gravelle and Rees : Microeconomics; Pearson Education.
3. G.S. Maddala and E. Miller. : Microeconomics. McGraw-Hill International
Editions.
4. Henderson J. and R.E. Quandt. : Microeconomic Theory: A Mathematical
Approach, McGraw Hill, New Delhi.
5. Heathfield and Wibe : An Introduction to Cost and Production Functions,
Macmillan, London.
6. Koutsoyiannis, A. : Modern Microeconomics, Macmillan.
7. Lipsey, R.G. and K.A. Chrystal. : Principles of Economics, Oxford University Press,
Oxford.
8. Mansfield, E. : Microeconomics, W.W. Norton and Company,
New York.
9. Ray, N.C. : An Introduction to Microeconomics, Macmillan,
Company of India Ltd Delhi.
10. R S. Pindyck and D.L. Rubinfeld : Microeconomics, Prentice Hall, India.
11. Samuelson, P.A. and W.D. : Economics, Tata McGraw Hill, New Delhi.
Nordhaus
12. Stonier, A.W. and D.C. Hague : A Textbook of Economic Theory, ELBS &
Longman Group, London.
13. Varian, H.R. : Intermediate Microeconomics: A Modern
Approach, East West Press, New Delhi
 Max. Marks: 100
Syllabus for B.A. Economics Sessional: 30
Department of Economics, AMU, Aligarh End Sem. Exam: 70
Semester-I
ECBOMN1005, Indian Economy-I
Minor Credits: 02
(Compulsory)

Course Objectives: This course aims at giving students a reasonable introduction to Indian
economy. Indian economy has undergone many changes since Independence particularly
during post-economic reform period. This transformation is still taking place in every sector
of the economy. However, many of the basic problems of the economy continue to exist. This
includes poverty, inequality, unemployment, infrastructural bottlenecks, demographic issues
etc. In addition to this, it also focuses on the agricultural and industrial development in India.
This course therefore, provides students with a clear understanding of the performance and
problems of Indian economy.

Course Outcomes: The students will be able to:

1. Comprehend the basic characteristics of Indian economy.
2. Know about the various features of Indian agriculture and industry.
3. Understand the issues related with food security, public distribution system and credit
institutions.
4. Examine issues and challenges of the Indian economy.

Unit-I: Structure of Indian Economy

Basic features of Indian economy; Trends in national income and per capita income; Sectoral
contribution and economic transition of India; Demographic transition- Stages, trends and
issues, Demographic dividend.
Unit-II: Poverty, Unemployment and Inequality
Poverty- Concept, incidence and causes; Human poverty index (HPI); Multidimensional
poverty index (MPI); Poverty eradication programmes; Unemployment- Types, estimates and
causes; Unemployment eradication policies and programmes; Inequality- Patterns and causes.
Unit-III: Agricultural Development
Basic features of Indian agriculture; Trends in agricultural production and productivity;
Causes of low productivity; Green revolution and new agricultural strategy; Agricultural
price policy; Food security and public distribution system; Global hunger index (GHI);
Agricultural credit and role of NABARD; Agricultural finance and marketing.
Unit-IV: Industrial Development
Importance of industry in Indian economy; Industrial development during the planning
period; Industrial policy of 1948, 1956 and 1991; Appraisal of new industrial policy;
Industrial sickness- Definition, magnitude, causes and consequences; Micro, small and
medium enterprises: Definition, role, problems and prospects.

Approved by BOS, Dept. of Economics and Faculty of Social Sciences in its meetings held on 18.05.2022 & 13.06.2022 respectively
References:

1. Agarwal A.N. : India Economy: Wishwa Prakashan.

2. Bansil P.C. : Agricultural Problems of India, Vikas Publishing
House Pvt. Ltd.
3. Bhalla, G.S. : Indian Agriculture since Independence, NBT.
New Delhi.
4. Dutt and Mahajan : India Economy, S. Chand & Company Ltd.
5. Government of India : Economic Survey (Latest)
6. Kapila U. : Indian Economy since Independence Academic
Foundation, New Delhi.
7. Misra and Puri : Indian Economy, Himalaya Publishing House.
8. Panagariya, A.: : India: The Emerging Giant. USA: OUP
9. Rakshit, M.: : A Macroeconomics of Post-Reforms India. New
Delhi: OUP.