SHIVAJI UNIVERSITY, KOLHAPUR

NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS

FACULTY OF SOCIAL SCIENCES
PAPER NO. II (RECENT TREND IN THE SUBJECT)
ADVANCED THEORIES IN ECONOMICS
TOTAL MARKS: 100 Total Lectures: 60
Introduced from June 2011

PREAMBLE:
Theory has a special importance in any subject in general and Economics in particular. Economics is a
dynamic, rapidly growing and advanced social science having number of branches and approaches of
theoretical analysis. Micro and Macro are two different but important approaches to economic analysis,
which play a very vital role in the development of the economic theory. It is being a rapidly growing
social science, the advancement in the theories in Economics are inevitable and found to the higher
extent possible. Hence the present paper attempts to highlight some of the important advancements of
theories in the economic theory. This paper is useful in updating theoretical knowledge of Economics
necessary for strengthening the theoretical background of the research students which, is useful for
speeding up their research activity in Economics.

UNIT I THEORY OF DEMAND: (Periods 15; Marks: 25)

1.1 Violation of premises of Indifference Curve Theory: Satiation, Lexicographical

orderings
1.2 Slutsky Theorem
1.3 Indirect Utility Functions – Duality Theory- Shephard’s Lemma
1.4 Recent Developments in Theory of Market Demand : Pragmatic Approach to Demand
Analysis, Linear Expenditure Systems

UNIT II THEORY OF PRODUCTION, MARKET STRUCTURES & PRICING:

(Periods 20; Marks: 35)

2.1 Production Function: Forms; Cobb Douglas, Constant Elasticity of

Substitution Production Function, Translog- Derivation of cost functions from
Production functions - Production functions of a Multi Product Firm
2.2 Baumol’s sales maximization hypothesis – Maximum rate of growth and profits
Hypothesis of Marris
2.3 Managerial discretion model of Williamson – Behavioral model
of Cyert and March
2.4 Hall and Hitch report – Full cost pricing principle- Bain’s limit pricing theory –
Recent developments in the theory of Limit pricing
UNIT III PROBLEMS OF STABILISATION POLICY
(Periods 10; Marks: 15)

3.1 Phillips curve analysis

3.2 Rational expectations hypothesis
3.3 Random walk theory- Real business cycle theory
3.4 The Question of Persistence

UNIT IV: MACRO ECONOMICS IN OPEN ECONOMY

(Periods 15; Marks: 25)

4.1 Foreign Trade Multiplier

4.2 Approaches to Balance of Payments Policy; Traditional, Monetarist, Structuralist
4.3 IS-LM analysis
4.4 Mundell-Fleming Model

BASIC READING:
1) American Economic Association (1969), Readings in Welfare Economics, R.D. Irwin
and Co., Homewood.
2) Archibald, G. C. Ed. (1971), Theory of the Firm, Penguin Books, Harmondsworth.
3) Arrow K.J.(1971), Essay in the Theory of Risk Bearing, North- Holland, Arnsterdam.
4) Arrows, K.J. and M.D. Intrilligator, Eds. (1981), Handbook of Mathematical
Economics, Vol. I, North-Holland, Arnsterdam.
5) Backhouse, R. (1985), A History of Modern Economics Analysis, Basil Blackwell,
Oxford.
6) Balck, M.S., D.L. McFadden and S.Y. Wu, Eds. (1974), Essay in Economic Behavior
under Uncertainty, North-Holland, Arnsterdam.
7) Baurnol, W.J.(1982), Economics Theory and Operations analysis, 4e, Prentice Hall of
India, New Delhi.
8) Boland, L (1982), The Foundation of Economic Method, George Allen and Unwin,
London.
9) Borch, K.H. (1968), The Economics of Uncertainty, Princeton University Press,
Princeton.
10) Branson, W.H. (1972), Macroeconomics Theory and Polices, Harper and Row, New
York.
 REFERENCES:
11) Bruce, N. and R. Boadway (1984), Welfare Economics, Basil-Blackwell, Oxford.
12) Chakravarty, S. (1985), Report of the Reserve Bank of India Committee Review the
Monitory? System, Reserve Bank of India, Bombay.
13) Clower, R.W. Ed.(1969) Monterey Theory, Penguin, Harmondsworth.
14) Da Costs, G.C.(1980). Production, Prices and Distribution, Tata Magraw, Tata
Magraw Hill, New Delhi.
15) Davidson, P. (1972), Money and Real World, Macmillan, London.
16) Deaton, A.S. and J. Muellbauer, (1980), Economics and Consumer Behavior,
Cambridge University Press, Cambridge.
17) Debreu, G.(1959), The Theory of Value, Wiley, New York.
18) Dernberg, T.(1985), Economics. 7e, McGraw Hill, Kogakusha, Tokyo.
19) Dimond, P. and M. Norths Child, Eds.(1978), Uncertainty in Economics, Academic
press, New York.
20) Dornbusch, R. and S. Fischer (1987), Macroeconomics, 4e, MaGraw Hill, Kogakusra,
Tokyo.
21) Edgemond, M.R. (1983), Macroeconomics: Theory and Policy, Prentice Hall of
India, New Delhi.
22) Evans, M.K. (1969), Macroeconomics Activity, Harper and row, New York.
23) Ferguson, C.E. (1968), Macroeconomics Theory, Cambridge University Press,
London.
24) Friedman, M. (1953), Essays in Positive Economics, Chicago University Press,
Chicago.
25) Gordon, R.J. (!981), Macroeconomics, 2e, Little Brown and Company Boston.
26) Gravel, H. and R. Rees (1981), Microeconomics, Longman London.
27) Gupta, S.B. (1983), Monitory Economics, S. Chand & Co., Delhi.
28) H. Akhtar and Chudhri, Open Economy Macro Economics for Developing Countries.
29) Hahn, F.H. and F.P.R. Brechling, Eds (1965), The Theory of Interest Rates,
Macrnillan, London.
30) Hall, R.E. and J.B. Taylor (1986), Macroeconomics, WW Norton, New York.
31) Hansen, B. (1970), A Study of General Equilibrium systems, McGraw Hill, New
York.
32) Harris, L. (1985), Monetary Theory, McGraw Hill, New York.
33) Hirscheifer, J. (1978), Investment, Interest and Capital, Prentice Hall, New York.
34) Johnson, H.G. Ed.(1967), Essays in Monetary Economics, Allen & Unwin, London.
35) Jones, H.G. (1976), An introduction to the Modern Theories of Economics Growth,
McGraw Hill, Kogakusha, Tokyo.
36) Junankar, P.N. (1972), Investment : Theories and Evidence, Macmillan, London.
37) Kamersehen, D.R.Ed. (1969), Readings in Microeconomics, John Wiley and Sons,
New York.
38) Kogiku,K C. (1971), Microeconomic Models, Harper & Row, New York.
39) Koutsoyiannis, A (1979) Modern Microeconomics, 2e. Macmillan, London.
40) Laidier david, Money and Macroeconomics.
41) Laidler, D. (1972), Demamd for Money: Theories and Evidence, alliance, Publishers,
New Delhi.
42) Leijonhufvud, A (1963), On Keynes of Keynes, Oxford University Press, Oxford.
43) Malkiel,B.G. (1966), The Term Structure of Interest Rates; Expectations and
Behavior : patterns, Princeton University Press, Princeton.
44) Mcconnel; C.R. and H.C. Gupta (1987), Introduction to Macroeconomics, Tata
McGraw Hill, Delhi.
45) Meiselman, D. (1962), The Term Structure of Interest Rates, Prentice Hall,
Englewood Cliffs.
46) Michaelson, J.B. (1973), The Term Structure of Interest Rates, Intext Educational
Publ, New York.
47) Mishan, E.J. (1969), Welfare Economics : an Assessment, North-Holland.
48) Negishi, T. (1979), Microeconomics Foundation of Keynesian, Macroeconomics
North-Holland, Company, Amsterdam.
49) Pantinkin, D. (1965), Money, Interest and Prices, 2e, Harper and Row, London.
50) Phelps, E.S. Ed.(1970), Microeconomics Foundations of Employment and Inflation
Theory, Macmillian, London.
51) Quirk, J. and Saposnick (1968), Introduction to General Equilibrium and Welfare
Economics, MaGraw Hill, Mew York.
52) Richard T. Froyen, Macro Economics – Theories and Policies.
53) Scarfe, B.L. (1977), Cycles, Growth and Inflation, McGraw Hill, New York.
54) Sen A.K. Ed.(1970), Growth of Economics, Penguin, Harmonds, Wroth.
55) Stein, J.L. (1970), Monitory Growth in Perspective, American Economic Review,
Vol. 60, PP. 85-106.
56) Strgler, G. (1966), The Theory of Prices, 3e,Macmillan Company, New York.
57) Surrey, M.J.C. ed. (1976), Macroeconomics Themes, Oxford University Press,
Oxford.
58) Thirlwall, A.P. (1978), Growth and Development, 2e. Macmillan, London.
59) Tobin, J. (1965), Money and Economics Growth, Econometric, Vol. 33, PP. 671-684.
60) Turnovsky S.J. (1977), Macroeconomic Analysis and Stabilisation Policy, Cambridge
University Press, Cambridge.
61) Varian, H.(1978), Microeconomics analysis, W.W. Norton, New York.
62) Weintraub, E.R. (1974), General Equilibrium Theory, Macmillian, London.
63) Weitraub E.R. (1979), Micro Foundation, Cambridge University Press, Cambridge.
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. III (OPTIONAL PAPER BASED ON SPECIALISATION)
ECONOMICS OF AGRICULTURE AND COOPERATION
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011

Preamble
Aim of this paper is to understand the performance of Indian agriculture and cooperative
organisations analytically during planning period.
Unit-I Agriculture in the Indian Economy (10 Periods, 20 Marks)
1.1) Agricultural Growth, strategies, policies, regional disparities, new emerging
trends – precision farming – contract farming and cooperative farming
1.2) Food security , Concept of PDS, Buffer stock of foodgrains- Allocation
1.3) Agriculture and WTO- AOA

Unit-II Agriculture and Infrastructures (10 Periods, 20 Marks)

2.1) Irrigation: Growth, Policies, Watershed Development
2.2) Bio-chemical and Mechanised technologies: Growth, Post Harvest Technology
2.3) Agricultural Finance- Sources of Finance, Growth
2.4) Agricultural Price Policy and Agricultural Marketing

Unit-III Cooperative Organisation and Development (10 Periods, 20 Marks)

3.1) Concepts- recent principals of cooperative leadership in cooperative organisation
3.2) HRD in Cooperative- Professionalization of Cooperative management
3.3) Cooperative Development in India
Unit-IV Cooperatives in Maharashtra (10 Periods, 20 Marks)
4.1) Agricultural credit societies- Micro finance – three tier structure
4.2) Dairy cooperatives – Growth, strategies
4.3) Sugar cooperatives – Growth, strategies
4.4) Urban Cooperative ban
BASIC READING:
1) Govt of India- Ministry of Agriculture and Cooperation- Report of the National commission
on Agriculture
2) Planning Commission GoI, Eleventh Five year plan- Oxford University Press,
New Delhi 2008
3) Khusarao A.M., the economics of land reforms and farm size in India
4) Hanumanta Rao C.H., Technological changes and distribution of gains inIndian Agriculture
5) Bhalla G.S. and Gurumail Singh, Recent Development in Indian agriculture
6) Shrinivastav and Chandrashekhar, Bio- technologies for Agriculture and Aquaculture
7) Kahlon D.S and Tyagi- Agricultural Price Policy inIndia
8) Soni R.N., Leading Issues in Agricvultural Economics
9) Jugale V.B., Theories of Agricultural finance Atlant Publication, New Delhi
10) Jugale V.B., Cooperative Credit in Indian agriculture, Atlant Publication, New Delhi
REFERENCES:
11) Jugale V.B., Sugarcane Pricing, Atlant Publication, New Delhi
12) Rais Ahemad, Cooperative Management and Developemnt, PartI/II, Mittal Publication, New
Delhi
13) Chinchankar P.Y.and Namjoshi M.V., Cooperation and the Dynamica of Change, Somaya
Publication
14) Internatoional Cooperativew Alliance, Cooperative Leadership in South – East Asia
15) Dlaya C.K. and Sabnis R.S ,Cooperatin in Maharashtra, Centre for the Study of Sociaol
Change, Mumbai
16) Mathur B.S.,Cooperation in India Sahitya Bahvan, Agra
17) Govt. of Maharashtra, Second Irrigatio Commission report 2000
18) Diwivedi R.C, Cooperative Identity- Concept and Reality, Paramount Publication,
New Delhi
19) Selvaraja R, Cooperatives in the new Millenium, Vikas Publication,2000
20) Tupe S.D, Sugar Cooperative and Rural Change, Dwaraka Prakashan, Pune
21) Kamath, G.S, India’s Roral Cooperative, Regency Publication, New Delhi,
22) Koli P.P., Womens Urban Cooperative Banks NFUCBCS, New Delhi
23) VMNICOM, Principal and Philosophy of Cooperation
24) Krishnaswamy- Fundamentals of Cooperation,Chand and Company
25) Gokhale Institute of Politics and Economics, Writing and Speeshes Of Prof. D.R.Gadgil
on Cooperation, Orient Longman Publication
 Shivaji University, Kolhapur
New/Revised Syllabus for Course Work
Of M.Phil/Ph.D Programme
Paper-III (Optional)

DEMOGRAPHY AND GENDER STUDIES

TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011

PREAMBLE
The main objective of this paper is to make the students aware of the importance of
population in economic development and the various theories that explain the growth of
population in a country. The paper also enlightens the student on the quantitative and the
qualitative aspects and characteristics of the population through various demographic techniques.
Migration and urbanization are the characteristics of structural change taking place in a society.
In recent times, gender characteristics of the population have acquired importance and these have
also been included in the framework of study. Gender biases in societal practices and
development policies have resulted in persistent gender inequalities. It is increasingly being
realized that mitigating such inequalities and enhancing women's capabilities and entitlements
are crucial to the overall development of the country.

UNIT-I: Size and Growth of Population

(10 Periods, 20Marks)

1. Theories of Population- Pre Malthusian and Malthusian theory

2. Post-Malthusian theories-Optimum Population, Demographic transition,
Threshold hypothesis.
3. Trends in population in the world during the last fifty years, variations in the
growth rates of population in Africa, Asia, Latin America, North America,
Europe, Australia and India.
4. Population policy and programmes in India, Policies for fertility regulation and
family welfare problems.
Unit-II : Sex and Age Structure, Migration and Urbanisation:
(10 Periods, 20Marks)

1.Sex and age structure in developed and less developed countries, determinants of
sex and age structure, Demographic effect of sex and age structure, economic
and social implications of sex and age structure.
2.Gender structure in India, factors affecting sex ratio in India.
3.Kinds of migration, determinants and consequences of migration with reference
to India
4.Growth of urban population, factors affecting urbanization, trends in
urbanization in India

Unit-III: Female work participation and Gender wage differentiation

(10 Periods, 20Marks)

1. Employment of women in various socio- economic activities, factors affecting

the recognition of women productive actively,
2. Demand for women labour and supply of women labour and their determinant
factors,
3. Trends in female work participation rates in urban and rural areas.
4. The concept of wage differentiation, gender skill, efficiency, opportunity, wage
differentiation across region, sectors in various socio-economic activities in
India.

Unit-IV : Economic Development, Labour legislation and Gender

(10 Periods, 20Marks)

1. Impact of economic development on social status of women, Programmes for

improving the status of women.
2. Role of women in collective bargaining, factors affecting participation of
women in union, organization and struggle,
3. Gender bias in legislation relating to property, assets, education, health etc.
4. Women labour policy in India.
BASIC READING:

1. Srinivasan K., Regulation of Reproduction in India, Population

2. Rodgers, G., Population Growth and Poverty in Rural South Asia
3. Agrawal, S. N., Indias’s Population Problems
4. Sryrock, H., Population, Poverty and Employments: Methods and Materials
of Demography
5. David, K., World Urbanisation, vol. II university of California
6. UND, Human Development Report
7. United Nation: The Determinants and Consequences of Population
8. Row B Sheela, Women Consciousness, Maris world, Penguin,
Harmondsworth
9. Boserup: Women’s role in economic development, George Allen and
Urwin London, 1970
10. UNESCO: Women Studies and Social Scientists in Asia, Bangkok
11. Ashok Mitra: Implications of Declining sex ratio in India’s Population,
ICSSR, New Delhi, 1979

REFERENCES:
12. Nanda. R.: Indian Women: From Pardha to Modernality, Vikas, New Delhi,
1976
13. Mujumdar, Vina, : Symbols of Power: Studies on the Political Status of
Women in India, Allied, New Delhi
14. Mitra, Ashok: The Status of Women Literacy and Employment, Allied
Publication, Bombay, 1979
15. Amseden A. H. : (ed) : The Economics of Women and Work, Penguin,
Harmondworth
16. Engles, F., : Women’s Participation in the Economic Activity of Asian
Countries, ILO Document DPW/10
17. Redcliff N. and E. Mingione (ed) : Beyond Employment: Household,
Gender, Subsistence Basil Backwell Oxford UK, 1985
18. Nancy Birdsall and Richarch Sabof: Unfair Advantage: Labour Market
Discrimination in Developing Countries
19. Lioyd, C. B., Andrews, E. S and Gilroy, C. L.,: Women in the Labour
Market, Colomia University Press, New York 1979
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. III (OPTIONAL PAPER BASED ON SPECIALISATION)
ENVIRONMENTAL AND RESOURCE ECONOMICS
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011

Preamble:
The Resource Economics is one of the old themes in Economics. In fact the
beginning of the science was much inclined to the theoretical exploration at the initial
level of the science. Today it is most significant part of the economics, since resources’
dilapidation is growing at the higher level. Besides, the effects of shortage of resources
compel to “limit the growth”. The students of economics must learn the resource
accounting in an environmental perspective. The ecological economics and environmental
economics are simultaneously studied in the paper. It is an important paper of the
economic science to be taught as a part of the higher education curriculum in the
University.

UNIT I: THEORY OF EXTERNALITIES: ( 10 Periods, 20 Marks )

1.1 Externalities as missing markets, Property rights and externalities

1.2 Pareto optimal provision of public goods, Lindahl’s equilibrium
1.3 Common Property resources
1.4 Pure and mixed public goods and environmental resources.

UNIT II: ECONOMICS OF NATURAL RESOURCES:

( 10 Periods, 20 Marks )
2.1 Exhaustible resources: Socially optimal extraction under different
(Competitive, Oligopolistic and monopoly) market structure
2.2 Uncertainty and the rate of resource extraction
2.3 Role of Government and the non-renewable resource taxation
2.4 Renewable resources: Static and dynamic economic models of fisheries,
forestry and mining under different market structures, Exploitation of renewable
resources under endogenous prices.

UNIT III MEASUREMENT OF ENVIRONMENTAL AND RESOURCE

VALUES ( 10 Periods, 20 Marks)

3.1 Use values, option value and non-use values

3.2 Methods based on observed market behaviour: Direct methods: Referenda,
simulated markets and parallel private markets,
 3.3 Indirect methods: Hedonic pricing and household production, potentially
applicable method, generally applicable methods, and selectively applicable
methods
3.4 Methods based on responses to hypothetical markets: Contingent valuation,
Contingent ranking, allocation games and indifference curve mapping.

UNIT IV: INTERNATIONAL ENVIRONMENTAL ISSUES:

( 10 Periods, 20 Marks)

4.1 Links between trade and environment, WTO and using trade measures to
achieve environmental objectives
4.2 Domestic environmental policies, trade and the competitive world economy-
Institutions and instruments to deal with global environmental problems
4.3 Environment and development linkages, Poverty and environment
4.4 Gender issues and environment - Environment and population issues

REFENCES:
1. Costanza, R (eds, 1991), ‘Ecological Economics’ ‘the Science and the
Management of Sustainability, Columbia University press, New York
2. Perrings, C. (1987), Economy and environment I A theoretical essay on the
Interdependence of Economic and Environmental systems, Cambridge University
Press
3. Chopra, Kanchan and S. C, Gulati (1998), Migration and common Property
Resources in the Arid and Semi-arid Zones of India, Forthcoming, Sage
Publications
4. World Bank, (1992), World development Report, 1992
5. Agarwal, Bina (1986), Cold Hearths and Barren Slopes: The Woodfuel Crisis in
the Third World, allied Publishers, Delhi
6. Agarwal, Bina (1997), Environmental Action, Gender Equity and Women’s
partioipation, Development and Change, 28(1), The Hague
7. Gadgil, M. and R. Guha (1995), Ecology and Equity the use and abuse of nature
in contemporary India, Penguin Hooks
8. Down to Earth: monthly periodical CSE, New Delhi.
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. III (OPTIONAL PAPER BASED ON SPECIALISATION)
ECONOMICS OF INDUSTRY & LABOUR
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011

PREAMBLE
Labour is an important factor of production, in absence of which no single productive activity
can be started in the economy, whatever may be the state of technology. Hence it is also
necessary to study welfare of the labour. Therefore the prime objective of the present paper is to
study both labour and its welfare, coupled with labour market in theoretical as well as empirical
perspectives with reference to India exclusively. This paper has theoretical background as well as
empirical analysis especially in the context of India. The study of the paper will enable the
students to equip with theoretical background essential for their research in this area of
specialization.

UNIT I: NDUSTRIAL STRUCTURE: (10 Periods, 20 Marks)

1.1 Nature and Determinants – Indian Industrial Structure and changes in it
1.2 Industrial Policy in India – Problems and Prospects of Industrial Industry
1.3 Theory of Firm and Pricing: Objectives of Firm – Efficient pricing methods and Price
fixation in Indian Industry
1.4 Mispricing and Illicit financial flow

UNIT II GROWTH AND STRUCTURE OF INDIAN CORPORATE SECTOR:

(10 Periods, 20 Marks)
2.1 Industrial finance – Money and Capital markets
2.2 Role of RBI & SEBI
2.3 Impact of Globalisation on Indian Industries
2.4 MNCs and SME (Small and Medium Enterprises) : Role & Impact

UNIT III LABOUR MARKET:

(15 Periods, 25 Marks)
3.1 Constituents – Special features of Indian Labour Market
3.2 Globalisation and Labour market policies
3.3 Wage Determination in theory and practice
3.4 Wage and Inflation Relationship
UNIT IV: INDUSTRIAL DISPUTES:
(5 Periods, 15 Marks)

4.1 Methods of settlements – Collective bargaining

4.2 Changing role of State labour matters
4.3 Important labour legislation in India
4.4 Labour in unorganized sector – Second National Commission on Labour-
Social security & Labour welfare in India

REFERENCES :

Ahluwalia, I.J. (1985), Industrial Growth in India, Oxford University Press, New Delhi.
Barthwal, R.R. (1985), Industrial Economics, Wiley Eastern Ltd., New Delhi.
Cherunilam, F. (1994), Industrial Economics : Indian Perspective (3rd Edition), Himalaya
Publishing House, Mumbai.
Desai, B. (1999), Industrial Economy in India (3rd Edition), Himalaya Publishing House,
Mumbai.
Divine, P.J. and R.M. Jones et. al. (1976), An Introduction to Industrial Economics, George
Allen and Unwin Ltd., London.
Government of India, Economic Survey (Annual).
Hay, D. and D.J. Morris (1979), Industrial Economics : Theory and Evidence, Oxford
University Press, New Delhi.
Kuchhal, S.C. (1980), Industrial Economy of India (5th Edition), Chaitanya Publishing House,
Allahabad.
Reserve Bank of India, Report on Currency and Finance (Annual).
Singh, A. and A.N. Sadhu (1988), Industrial Economics, Himalaya Publishing House, Bombay.
Bains, J.S. (1996), Industrial Organization, Cheltanham, U.K.
Harndeen, J.B. (1975), The Economics of Corporate Economy, Dunellen Publishers, New
York.
Kamien, M.T. and N.L. Schwartz (1982), Market Structure and Innovation, Cambridge
University Press, Cambridge.
Wiles, P.J.D. (1963), Price, Cost and Output, Praeger, New York. Economics 141
Harndeen, J.B. (1975), The Economics of Corporate Economy, Dunellen Publishers, New
York.
Kirkpatrick, C.M., N. Lee and E.I. Nixon (1984), Industrial Structure and Policy in Less
Developed Countries, ELBS/George Allen and Unwin, London. Menon, K.S.V. (1979),
Development of Backward Areas Through Incentives, Asia Publishing
House, Bombay.
Smith, D.M. (1971), Industrial Location : An Economic and Geographic Analysis, John Wiley,
New York. Bagchi, A. and M. Banerjee (Eds.) (1979), Change and Choice in Indian Industry,
Bagchi Publications, Calcutta. Kelkar, V.L. and V.V. Bhanoji Rao (Eds.) (1996), India
Development Policy Imperatives, Tata McGraw Hill, New Delhi.
Bhagwati J. and P. Desai (1972), India: Planning for Industrialization, Oxford University
Press, London.
Brahmananda, P.R. and V.R. Panchamukhi (Eds.) (1987), The Development Process of the
Indian Economy, Himalaya Publishing House, Bombay. Chakravarty, S. (1987), Development
Planning : The Indian Experience, Oxford University Press, New Delhi.
Datta, B. (1992), Indian Planning at the Crossroads, Oxford University Press, New Delhi.
Ghosh, P.K. (1977), Government and Industry, Oxford University Press, New Delhi.
Joshi, V. and I.M.D. Little (1999), India : Macro Economics and Political Economy : 1964-
1991, Oxford University Press, New Delhi.
Datt, G. (1996), Bargaining Power, Wages and Employment: An Analysis of Agricultural
Labour Markets in India, Sage Publications, New Delhi Economics 146
Hajela, P.D. (1998), Labour Restructuring in India: A Critique of the New Economic Policies,
Commonwealth Publishers, New Delhi.
Jhabvala, R. and R.K. Subrahmanya (Eds.) (2000), The Unorganised Sector : Work Security
and Social Protection, Sage Publications, New Delhi.
Lester, R.A. (1964), Economics of Labour, (2nd Edition), Macmillan, New York.
McConnell, C.R. and S.L. Brue (1986), Contemporary Labour Economics, McGraw-Hill, New
York.
Papola, T.S., P.P. Ghosh and A.N. Sharma (Eds.) (1993), Labour, employment and Industrial
Relations in India, B.R. Publishing Corporation, New Delhi.
Rosenberg M.R. (1988), Labour Markets in Low Income Countries in Chenery, H.B. and
T.N. Srinivasan, (Eds.), The Handbook of Development Economics, North-Holland, New
York.
Venkata Ratnam, C.S. (2001), Globalization and Labour-Management Relations: Dynamics
of Change, Sage Publications/Response Books, New Delhi.
McCormick, B. and Smith (Eds.) (1968), The Labour Market, Penguin, Harmondsworth.
Papola, T.S. and Rodgers, G. (Eds.) (1992), Labour Institutions and Economic Development
in India, International Institute for Labour Studies, Geneva.
Rees, A. (1973), Economics of Work and Pay, Harper and Row, New York.
Sen, A.K. (1975), Employment, Technology, and Development, Oxford University Press, New
Delhi.
Solow, R.M. (1990), Labour Market as an Institution, Blackwell, London. Economics 147
Das, N. (1960), Unemployment, Full Employment and India, Asia Publishing House, Bombay.
Deshpande, L.K., P.R. Brahmananda, E.A.G. Robinson, (Eds.) (1983), Employment Policy
in a Developing Economy, Vol. I & II Macmillan, London.
Kannapon, S. (1983), Employment Problems and Urban Labour Markets in Developing
Countries, University of Michigan, Ann Arbor.
Papola, T.S. and Sharma, A.N. (Eds.) (1999), Gender and Employment in India, Vikas
Publishing House, New Delhi.
Sharma. A.N. and A. Kundu (Ed.) (2001), Informal Sector in India : Emerging Perspectives,
Institute for Human Development, New Delhi.
Binswanger H.P. and M.R. Rosenzweig (Eds.) (1984), Contractual Arrangements,
Employment, and Wages in Rural Labor Markets in Asia, Yale University Press, New Haven.
Desphande L.K. and J.C. Sandesara, (Eds.) (1970), Wage Policy and Wages Determination
in India, Bombay University Press, Bombay.
Foster, A.D. and M.R. Rosenberg, (1993), Information Flows and Discrimination in Labour
Markets in Rural Areas in Developing Countries, Annual Conference on Development
Economics, World Bank, Washington D.C.
Hicks J.R. (1932), The Theory of Wages, Clarendon Press, Oxford.
Madan, B.K. (1977), The Real Wages of Industrial Workers in India, Management
Development Institute, New Delhi.
Mazumdar, D. (1989), Micro-economic Issues of Labour Markets in Developing Countries,
EDI Services Paper No. 40, World Bank, Washington D.C.
Breman, J. (1996), Footloose Labour: Working in India’s Informal Economy, Cambridge
University Press, Cambridge.
Memoria, C.B. (1966), Labour Problems and Social Welfare in India, Kitab Mahal, Allahabad.
Punekar, S.D. (1978), Labour Welfare, Trade Unionism and Industrial Relations, Himalaya
Publishing House, Bombay.
Sach, J. (1990), ‘Social Conflict and Populist Policies in Latin America,’ in R. Brunnetta and
C.D. Aringa (Eds.) Labour Relations and Economic Performance, Macmillan, Basing Stoke.
Singh V.B. (Ed.) (1970), Industrial Labour in India, Popular Prakashan, Bombay.
Deshpande, S., G. Standing, and L.K. Deshpande, (1998), Labour Flexibility in a Third World
Metropolis, Commonwealth Publishers, New Delhi.
Hauseman, S. (1991), Industrial Restructuring with Job Security, Harvard University Press,
Cambridge, Mass.
MHRD, GOI (1987), Shram Shakti: Report of the National Commission on Self-employed
Women and Women Workers in the Informal Sector, Ministry of Human Resources
Development, New Delhi.
Misra, L. (2000), Child Labour in India, Oxford University Press, New Delhi.
Riveros, L. (1990), Labour Market Policies and Labour Market Reforms in Socialist Economies,
World Bank, Washington D.C.
Standing G. and V. Tokman (Eds.) (1991), Towards Social Adjustment, ILO, Geneva.
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. III (OPTIONAL PAPER BASED ON SPECIALISATION)
INTERNATIONAL TRADE AND FINANCE
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011

PREAMBLE
The course provides understanding about the broad principles, laws and theories, which tend to
govern the free flow of trade in goods, services and capital at the global level. Besides, preparing
the students about the relevance and limitations of these principles, the contents of the paper
spread over different units, lay stress on the theory and nature of the subject which, in turn, will
greatly help them to examine the impact of the trade policies followed both at the national and
international levels as also their welfare implications at macro level and the distribution of gains
from trade. The study of the paper will train the students about the likely consequences on
income, employment and social standards and possible policy solutions as the world will move
into the 21st century. Thus this paper has theoretical background as well as empirical analysis
especially in the context of India. This study will enable the students to equip with theoretical
background essential for their research in the area of specialization.

UNIT I: INTERNATIONAL TRADE THEORY: (10 Periods, 20 Marks)

1.1 Ricardo, Marshall
1.2 Ohlin, Graham
1.3 Gains from Trade
1.4 Terms of Trade

UNIT II LABOUR MOBILITY AND INTERNATIONAL CAPITAL MOVEMENTS:

(10 Periods, 20 Marks)

2.1 Labour Migration – Brain Drain

2.2 WTO and Labour Laws Emigration Laws
2.3 Foreign Capital Flows from Developed to Developing Nations- Globalisation and
Changing Pattern of Foreign Capital Movements
2.4 Foreign Exchange Markets
UNIT III RECENT TRENDS IN TRADE & TARIFF POLICIES AND
INTERNATIONAL FINANCIAL ARRANGEMENTS:
(15 Periods, 25 Marks)

3.1 Free Trade and Protection

3.2 GATT and WTO Agreements; Regional Trade Agreements: EU, NAFTA, SAARC
3.3 Globalisation and Tariff and Non Tariff Barriers – Tobin Tax
3.4 Exchange Rate Policy; Partial and Full Convertibility of Currency- Role of
International Financial Institutions: IMF, IBRD, ADB

UNIT IV: RECENT TREND IN INDIA’S FOREIGN TRDAE:

(5 Periods, 15 Marks)

4.1 Changing Composition and Direction of India’s Foreign Trade

4.2 Review of India’s Trade Policy since 1991
4.3 FDI and Export Infrastructure Development – Role of SEZs
4.4 Human Capital Development and Export Growth

BASIC READING
1) Bhagwati, J. (Ed.) (1981), International Trade, Selected Readings, Cambridge University
Press, Massachusetts.
2) Carbough, R. J. (1999), International Economics, International Thompson Publishing,
New York.
3) Chacholiades, M. (1990), International Trade: Theory and Policy, McGraw Hill,
Kogakusha, Japan.
4) Dana, M.S. (2000), International Economics: Study, Guide and work Book, (5th Edition),
Routledge Publishers, London.
5) Dunn, R. M. and J. H. Mutti (2000), International Economics, Routledge, London.
6) Kenen, P. B. (1994), The International Economy, Cambridge University Press, London.
7) Kindleberger, C. P. (1973), International Economics, R. D. Irwin, Homewood.
8) King, P. G. (1995), International Economics and International Economic Policy : A Reader,
McGraw Hill International, Singapore.
9) Krugman, P. R. and M. Obstfeld (1994), International Economics: Theory and Policy,
Glenview, Foresman.
10) Salvatore, D. (1997), International Economics, Prentice Hall, Upper Saddle River, N. J.
New York. 114
11) Soderstron, Bo (1991), International Economics, The Macmillan Press Ltd., London.
12) Greenway, D. (1983), International Trade Policy, Macmillan Publishers Ltd., London.
13) Agarwal, M. R.(1979), Regional Economic Cooperation in South Asia, S. Chand and Co.,
New Delhi.
REFERENCES:
14) Brahmananda, P. R. (1982), The IMF Loan and India’s Economic Future, Himalaya
Publishing House, Bombay.
15) Kindleberger, C. P. (1996), A History of Financial Crisis: Manias, Panics and Crashes
(3rd Edition), John Wiley and Sons, New York.
16) Francis Cherunilum, International Trade and Export Management, Himalaya Publishing
House, Delhi.
17) Manmohan Singh (1964), India's Export Trends and the Prospects for Selfsustained
Growth, Oxford University press, New Delhi.
18) Mundell, R. (1968), International Economics, The Macmillan Company Ltd., New York.
19) Panchmukhi, V. R. (1978), Trade Policies of India – A Quantitative Analysis, Concept
Publishing Company, New Delhi.
20) Pomfrert, R. (1996), International Trade: An Introduction to Theory and Policy, Basil
Blackwell, Oxford.
21) Soloman, R. (1982), The International Monetary System 1945-1981, Harper and Row
Publishers, New York.
22) Satyanarayan, B. (1986), India’s Trade with Asia and The Far East Countries, B. R.
Pub. Corp., New Delhi.
23) Verma, M. L., (1995), International Trade, Vikas Publishing House Pvt. Ltd., Delhi.
24) Nayyar, D. (1976), India’s Exports and Export Policies in the 1960s , Cambridge
University Press.
25) Joshi V. and I.M.D. Little (1998), India’s EconomicReforms, 1999-2000, Oxford University
Press, New Delhi.
26) Patel, S. J. (1995), Indian Economy Towards the 21st Century, University Press, Ltd., India.
 Shivaji University, Kolhapur
New/Revised Syllabus for Course Work
Of M.Phil / Ph.D Programme
Paper-III (Optional)
ECONOMICS OF MONEY, BANKING AND FINANCIAL INSTITUTIONS
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011
PREAMBLE
This paper analyses the significant role of 'Money 'and financial institutions in
the modern economy. It provides essential and thorough knowledge to the economics
students relating to the theoretical aspects of money. It covers various approaches
towards demand for money, supply of money, and rate of interest, agencies which
creates and supplies money and operates monetary policy. The paper also deals with
financial markets in India. The positive and significant role financial institutions in the
process of growth and development has been very well recognized in the literature and
indeed has become more important during the last two decades of globalization. Since
reforms introduced in financial sector, many new concepts have emerged in this sector.
For the students of economics it is essential to understand and analyse these new
concepts as well as monetary forces and real forces, in shaping and influencing the
monetary and related policies both at the national and international level.
Unit-I Role and Constituents of Supply of Money

(10 Periods, 20Marks)

1. Role of money in classical and Keynesian systems- Classical and Keynesian

theories of income and employment. Liquidity theory of money- Radcliff – Sayers
and Gurley-Shaw thesis, Swedish approach.
2. Money supply- Measurement of Money supply- Traditional method, Chicago
school, Gurley Shaw, Radcliff Committee, Friedman, Chakraborthy committee,
Reddy committee.
3. High power money supply, Money multiplier, Monetary targeting, Factors
influencing money supply.
4. Monetary and Fiscal policy, mix, Stabilisation policy.
Unit-II Theories of Supply and Demand for Money
(10 Periods, 20Marks)

1. Supply of money-Portfolio choice money multiplier model, Pure Loan demand

approach, Mixed portfolio loan demand model, Riefler-Burgess hypothesis.
2. Demand for money-Classical theory, Keynesian theory,
3. Post-Keynesian approaches, Baumol’s Inventory theoretic approach, Tobin’s
portfolio model.
4. Friedman’s restatement of quantity theory, Gurley-Shaw on demand for money.
Unit-III Financial Market in India
(10 Periods, 20Marks)
1. Role and Structure of financial market,
2. Recent Reforms in Financial sector -Economic regulations, Prudential
regulations, Structural regulations, Risk management- Liquidity risk, Credit risk,
Exchange risk.
3. Financial liberalization school approach, Deregulation of interest rate, Interest rate
modeling, Autonomy of Central Banking.
4. NABARD, Cooperative banking, Developmental Financial Institutions and
NBFIs.
Unit-IV International financial system
(10 Periods, 20Marks)

1. Stabilisation and structural approach, Demand and supply conditionalities.

2. Washinton concusses, Neo-Liberalisation approach, Basle norm and standards.
3. Euro, convertability of currency, International capital movement, Regulation of
foreign exchange reserves.
4. IMF and International Liquidity Management.
Basic Reading:
1. Halm, G.N., Monetary Economics

2. Newlyn, W.E., Theory of Money

3. Johnson, H., Essays in Monetary Theory

4. Patinkin Don, Money, Interest and Prices

5. Shaw E. S., Money Income and Monetary Policy

6. Day a. C.L., An Outcome of Monetary Economics

7. Friedman, Essay on Money

8. Harley, L., Monetary Theory

9. Pischke, J.D. Von, Finance at the Frontier, Debt, Capacity and Role of Credit in
Private Economy
10. Bhose, L.M., Financial Institutions and Markets: Structure, Growth and Innovation

REFERENCES
11. Sheth, M.L., Monetary Economics

12. Ghosh, B. & Ghosh Rama, Monetary Economics

13. Einzig P., Monetary Policy: Ends & Means

14. Suraj Gupta, Monetary Theory

15. Froyen, R. T., Macro Economics: Theory and Policies

16. Lys Thomas, Monetary Theory & Monetary Policies

17. Zak, P. J., Currency Crises, Monetary Union and the Content of Monetary Policy

18. Pascal Bridel, Money & General Equilibrium

19. Real Fonzo, Money & Banking

20. Mathews, Economics and Politics of Money

21. Laidler David, Money and Macro Economics, Vol. I, II, III

22. Han, F. H., Breching F. P. R. (ed) Theory of Interest Rates

23. Malkiel, B. G., The Term Structure of Interest Rates: Expectations and Behaviour
Patterns
24. Turnovsky, S. J., Macro Economic Analysis Stabilisation Policy

25. Goodhart, C., Money Information and Uncertainty

26. Gupta, S. B. Monetary Planning in India

27. Davidson, P. International Money and Real World

28. RBI Reports

29. World Bank Repots

30. IMF Reports

 Shivaji University, Kolhapur
New/Revised Syllabus for Course Work
Of M.Phil/Ph.D Programme
Paper-III (Optional)

DEMOGRAPHY AND GENDER STUDIES

TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
To be introduced from June 2011

PREAMBLE
The main objective of this paper is to make the students aware of the importance of
population in economic development and the various theories that explain the growth of
population in a country. The paper also enlightens the student on the quantitative and the
qualitative aspects and characteristics of the population through various demographic techniques.
Migration and urbanization are the characteristics of structural change taking place in a society.
In recent times, gender characteristics of the population have acquired importance and these have
also been included in the framework of study. Gender biases in societal practices and
development policies have resulted in persistent gender inequalities. It is increasingly being
realized that mitigating such inequalities and enhancing women's capabilities and entitlements
are crucial to the overall development of the country.

UNIT-I: Size and Growth of Population

(10 Periods, 20Marks)

1. Theories of Population- Pre Malthusian and Malthusian theory

2. Post-Malthusian theories-Optimum Population, Demographic transition,
Threshold hypothesis.
3. Trends in population in the world during the last fifty years, variations in the
growth rates of population in Africa, Asia, Latin America, North America,
Europe, Australia and India.
4. Population policy and programmes in India, Policies for fertility regulation and
family welfare problems.

Unit-II : Sex and Age Structure, Migration and Urbanisation:

 (10 Periods, 20Marks)

1.Sex and age structure in developed and less developed countries, determinants of
sex and age structure, Demographic effect of sex and age structure, economic
and social implications of sex and age structure.
2.Gender structure in India, factors affecting sex ratio in India.
3.Kinds of migration, determinants and consequences of migration with reference
to India
4.Growth of urban population, factors affecting urbanization, trends in
urbanization in India

Unit-III: Female work participation and Gender wage differentiation

(10 Periods, 20Marks)

1. Employment of women in various socio- economic activities, factors affecting

the recognition of women productive actively,
2. Demand for women labour and supply of women labour and their determinant
factors,
3. Trends in female work participation rates in urban and rural areas.
4. The concept of wage differentiation, gender skill, efficiency, opportunity, wage
differentiation across region, sectors in various socio-economic activities in
India.

Unit-IV : Economic Development, Labour legislation and Gender

(10 Periods, 20Marks)

1. Impact of economic development on social status of women, Programmes for

improving the status of women.
2. Role of women in collective bargaining, factors affecting participation of
women in union, organization and struggle,
3. Gender bias in legislation relating to property, assets, education, health etc.
4. Women labour policy in India.

BASIC READING:

1. Srinivasan K., Regulation of Reproduction in India, Population

2. Rodgers, G., Population Growth and Poverty in Rural South Asia
3. Agrawal, S. N., Indias’s Population Problems
4. Sryrock, H., Population, Poverty and Employments: Methods and Materials
of Demography
5. David, K., World Urbanisation, vol. II university of California
6. UND, Human Development Report
7. United Nation: The Determinants and Consequences of Population
8. Row B Sheela, Women Consciousness, Maris world, Penguin,
Harmondsworth
9. Boserup: Women’s role in economic development, George Allen and
Urwin London, 1970
10. UNESCO: Women Studies and Social Scientists in Asia, Bangkok
11. Ashok Mitra: Implications of Declining sex ratio in India’s Population,
ICSSR, New Delhi, 1979

REFERENCES:
12. Nanda. R.: Indian Women: From Pardha to Modernality, Vikas, New Delhi,
1976
13. Mujumdar, Vina, : Symbols of Power: Studies on the Political Status of
Women in India, Allied, New Delhi
14. Mitra, Ashok: The Status of Women Literacy and Employment, Allied
Publication, Bombay, 1979
15. Amseden A. H. : (ed) : The Economics of Women and Work, Penguin,
Harmondworth
16. Engles, F., : Women’s Participation in the Economic Activity of Asian
Countries, ILO Document DPW/10
17. Redcliff N. and E. Mingione (ed) : Beyond Employment: Household,
Gender, Subsistence Basil Backwell Oxford UK, 1985
18. Nancy Birdsall and Richarch Sabof: Unfair Advantage: Labour Market
Discrimination in Developing Countries
19. Lioyd, C. B., Andrews, E. S and Gilroy, C. L.,: Women in the Labour
Market, Colomia University Press, New York 1979
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. III (OPTIONAL PAPER BASED ON SPECIALISATION)
PUBLIC ECONOMICS
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011
PREAMBLE

Role and functions of the Government in an economy have been changing with the
passage of time. The term ‘Public Economics now and 'Public Finance' previously has
traditionally been applied to the package of those policies and operations which involve the
use of tax and expenditure measures while budgetary policy is an important part to understand
the basic problems of use of resources, distribution of income, etc. There are vast
array of fiscal institutions - tax systems, expenditure programmes, budgetary
procedures, stabilization instruments, debt issues, levels of government, etc., which
raise a spectrum of issues arising from the operation of these institutions. This paper
combines a thorough understanding of fiscal institutions with a careful analysis of the
issues which underline budgetary policies in general and Indian experience in
particular. Thus the present paper endeavours to impart both the theoretical as well
empirical knowledge of Public Economics with reference to India exclusively.
UNIT I: PUBLIC CHOICE & PUBLIC POLIC ANALYSIS:
(10 periods; 20 Marks)
1.1 Public Choice and Welfare: Pareto Optimality and market equilibrium,
Compensation Tests, Social welfare function
1.2 Problem of Preference Revelation: Arrow’s theorem, Interest Groups,
Welfare and Empowerment, A.K. Sen and Welfare Economics
1.3 Provision of Public Goods: Samuelson, Tiebout, Tullock, Buchanan,
Wagner models, Theory of Club Goods
1.4 Social Goals of Public Policy: Poverty alleviation, provision of
infrastructure, correction of inequality and regional imbalances
UNIT II: TAXATION AND PUBLIC EXPENDITURE:
(10 periods; 20 Marks)
2.1 Theories of Incidence of Tax: concept and theories of incidence of
taxation
2.2 Theories of Taxation: Benefit principle, Ability to pay theory, Theory of
Optimal taxation, Laffer curve
2.3 Public Expenditure : Wagner, Wiseman-Peacock hypothesis, Pure theory
2.4 Project Evaluation: Project evaluation methods, Social cost benefit
analysis

UNIT III: PUBLIC ENTERPRISES:

(10 periods; 20 Marks)
3.1 Public Enterprises: Changing attitude towards Public enterprises
3.2 Privatisation: Issues, Experience, Problems
 3.3 Pricing of Public Enterprises: Dupit, Hotelling, Second Best pricing,
Administered prices, Peak load pricing, Pricing in Power generation and
Irrigation with reference to India
3.4 Management and Accountability of Public Sector Enterprises:
Problems, Disinvestment policy, NEP and Reforms in Public sector
enterprises
UNIT IV: TRENDS IN INDIAN PUBLIC FINANCE:
(10 periods; 20 Marks)
4.1 Trends in: Revenue, Expenditure, Public Debt of Government of India –
Budgetary, Revenue, Fiscal, Primary deficit -Burden and Management of
Public Debt.- Tax reforms in India Expenditure reforms
4.2 State Finances: Trends in Revenue, Expenditure, Debt and Deficit
4.3 Fiscal Federalism: Vertical and Horizontal Fiscal Imbalance in India – 12th
& 13th Finance Commissions
4.4 73rd and 74th Constitutional amendments and Local bodies
BASIC READING :
• Atkinson, A. B. and J. E. Siglitz (1980), Lectures on Public Economics, Tata
McGraw Hill, New York.
• Auerbach, A. J. and M. Feldstern (Eds.) (1985), Handbook of Public Economics, Vol. I,
North Holland, Amsterdam.
• Buchanan, J. M. (1970), The Public Finances, Richard D. Irwin, Homewood.
• Goode, R. (1986), Government Finance in Developing Countries, Tata McGraw Hill,
New Delhi.
• Houghton, J. M. (1970), The Public Finance: Selected Readings, Penguin, Harmondsworth.
• Jha, R. (1998), Modern Public Economics, Routledge, London.
• Menutt, P. (1996), The Economics of Public Choice, Edward Elgar, U. K.
• Musgrave, R. A. (1959), The Theory of Public Finance, McGraw
Hill,Kogakhusa, Tokyo.
• Musgrave, R. A. and P. B. Musgrave (1976), Public Finance in Theory and
Practice, McGraw Hill, Kogakusha, Tokyo.
• Shoup, C. S. (1970), Public Finance, Aldine, Chicago.
• 11. Shome, P. (Ed.) (1970), Tax Policy: Handbook, Tax Division, Fiscal Affairs
Department, International Monetary Fund, and Washington D. C.
• Cornes, R. and T. Sandler (1986), The Theory of Externalities, Public Goods and Club
Goods, Cambridge University Press, Cambridge.
• Duff, L. (1997), Government and Market, Orient Longman, New Delhi.

REFERENCES :
• Herber, B. P. (1967), Modern Public Finance, Richard D. Irwin, Homewood.
• Lekhi, R. K. ( 1998 ) Public Finance, Kalyani Publishers, Ludhiana
• Spulber, N. (1998), Redefining the State, Cambridge University Press,
Cambridge.
• Buchanan, J. M. (1968), The Demand and Supply of Public Goods,
RandMcNally, Chicago.
• Mueller, D.C. (1979), Public Choices, Cambridge press, Cambridge.
• Spulber, N. (1998), Redefining the State, Cambridge University Press,
Cambridge.
• Stiglitz, J.E. (1986), Economics of Public Sector, Norton, New York.
• Dorfman, R. (Ed.) (1970), Measuring the Benefits of Government Investment,
Brookings intuitions, Washington.
• Duff, L. (1997), Government and Market, Orient Longman, New Delhi.
• Friedman, A. (1986), Welfare Economics and Social Choices Theory, Martins
Nijhoff, Boston.
• Glennester, H. And J. Hills (1998), The State Of Welfare: The Economics and
Social Spending, Oxford University Press, London.
• Mishan, E.J.(1982), Cost Benefit Analysis : An Informal Introduction, Goerge
Allen and Unwin, London.
• Peacock, A. and D.J. Robertson (Eds.) (1963), Public Expenditure: Appraisal and
Control, Oliver and Boyd, Edinburgh.
• Phyrr, P. (1970), Zero Base Budgeting: A Practical Management Tour Tool for
Evaluating Expenses, John Wiley, New York.
• Premhand, A. (1966), Control of Public Expenditure in India, Allied Publisher,
New Delhi.
• Sahni, B.S. (Ed.) (1972), Public Expenditure Analysis: Selected Readings,
Rotherdam University Press.
• Bird, R. and O. Oin ldman (1967), Readings On Taxation Developing Countries,
the John Hopkins University Press, Baltimore.
• Cutt, J.(1969), Taxation and Economic Development in India, Frederick A
Praegar publishers, New York.
• Kaldor, N. (1955), An Expenditure Tax, George Allen and Unwin; London.
• Musgrave, R.A. and C. Shoup (Eds.) (1970), Readings in the Taxation, George
Allen and Unwin, London.
• Barman, K. (1986), Public Debt Management in India, Uppal Publication House,
New Delhi.
• Ferguson, J.M. (Ed.) (1964), Public Debt and Future Generation, North Carolins
University Press, Chapel Hill.
• Sreekantaradhya, B.S. (1972), Public Debt and Economic Development in India,
New Delhi.
• American Economic Association (1955), Readings in Fiscal Policy, George Allen
and Unwin, London.
• Chelliah, Raja J. (1 971), Fiscal Policy in Underdeveloped Countries, George
Allen Unwin, London.
• Government of India (1985), Long Term Fiscal Policy, New Delhi.
• Peacock, A. and G.K. Shaw (1976), The Economic Theory of Fiscal Policy,
George Allen Unwin, London.
• Bhargava, R.N. (1967), The Theory and Working Union Finance in India,
Chaitanya Publishing House, Allahabad.
• Bhargava, P.K. (1982), Centre State Resources Transfers in India, The Academic
Press, Gurgaon.
• Chillah,Raja J. et. al (1981), Trends and Issues in India’s Finances Institute of
Public Finance and Policy, New Delhi.
• Gulati, I.S. (1979), Central State Financial Relations: An Assessment of the Role
of Finances Commission, M.S. University of Baroda.
• Lakdwala, D.T. (1967), Union State Financial Relations, lalwani Publishing
House, Mumbai.
• Musgrave, R.A. (1977), Essays in fiscal Federalism, Greenwood West Port.
• Oates, W.E. (1972), Fiscal Federalism, Harcourt and Johhanwis, New York.
• Reports of Various Finance Commissions.
• Srivastava, D.K. (Ed.) (2000), Fiscal Federalism in India, Har-Anand Publication
Ltd., New Delhi.
• Bhargava, R.N. (1969), Indian Public Finances, B. D. Bharava and Sons,
Chandausi.
• Bhargava, P.K. (1976), Taxation of Agriculture in India, Vora and Co. Bombay.
• Bhargava, P.K. (1984), Some Aspects of Indian Public Finances, Uppal
Publishing House, New Delhi.
• Borkar, V.V. (1971), Income Tax Reform of India, Popular Prakashan, Bombay.
• Chelliah, R.J. (Ed.) (1997), Towards Sustainable Growth, oxford University press,
New Delhi.
• Datt, R. (Ed.) (2001), Second Generation Economic Reforms in India, Deep &
Deep Publications, New Delhi.
• Gandhi, V.P.(1970), Some Aspects of India’s Tax Structure, Vora and Company,
Bombay.
• Government of India (1992), Reports of the Tax Reforms Committee- Interim and
Final (Chairman: Raja J. Chelliah).
• Jain, A.K.(1975), Taxation of Income of India, Macmillan Company of India Ltd.,
New Delhi.
• Jain, I. (1988), Resources Mobilization and Fiscal Policy in India, Deep & Deep
Publications, New Delhi.
• Kumar, A. (1999), The Black Economy in India, Penguin, Harmondswort.
• Mundle, S. (1999), Public Finance Policy: Issues for India, Oxford University
Press, New Delhi.
• Singh, T. (2000), The Corporation Tax in India, Classical Publishing Company,
New Delhi.
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. III (OPTIONAL PAPER BASED ON SPECIALISATION)
REGIONAL ECONOMICS
TOTAL MARKS: 100 Total Lectures: 40
Theory Examination: 80 Marks; Internal Assessment; 20 Marks
(Presentation of Review of Papers in Journals)
Introduced from June 2011

Preamble:
This paper deals with the regional calamities and characters, and the use of them
for the sustainable development of the regional economies. The agro climatic zones and
their development for the human and natural habitats are considered in planning for the
region. The spatial and physical planning is also considered in this paper. It helps to
understand the regional economies in vast country like India. A study of the Maharashtra
is one of its components to understand the paper practicably.
UNIT I: SPATIAL ECONOMICS:
( 10 Periods, 20 Marks)
1.1 Spatial micro economics and location theory, Spatial monopolistic
competition, Hotelling formation and its critique,
1.2 economies and diseconomies of agglomeration.
1.3 Spatial macro economics - Regional social accounting theory, Regional
balance of payment mechanism, interregional business cycle Propagation
mechanism,
1.4 Regional growth theories, Determinants of land use- Techniques for regional
analysis.

UNIT II THEORIES OF REGIONAL ECONOMICS

( 10 Periods, 20 Marks)
2.1 Regional migration theories.
2.2 Leading theories of regional economics, Central place theory and economy’
space, Location quotient, Models of flows of persons, commodities and capital.
2.3 Regional Input analysis, Regional economic base theory,
2.4 Cumulative causation theory, Divergence and convergence theses.

UNIT III THEORY OF REGIONAL DEVELOPMENT:

( 10 Periods, 20 Marks)
3.1 Indicators of regional imbalances, Factors responsible for regional plans,
estimates of regional disparities,
3.2 Regional disparities and development policies in India.
3.3 Inequalities of income alleviation programmes, Inequality of Income,
magnitude, effects, factors responsible, suitable measures in India
3.4 Sen’s poverty Index, Incidence of poverty, Factors responsible for poverty,
Suitable measures for solution, Poverty alleviation programmes in India
 UNIT IV: AGRICULTURAL DEVELOPMENT AND SUSTAINABLE
DEVELOPMENT:
( 10 Periods, 20 Marks)
4.1 Agricultural development and sustainable development, Land use, Cropping
pattern, Agro-climatic regional planning,
4.2 Co-operatives and regional development in Maharashtra, State economic
policy since 1960.
4.3 Western Maharashtra as a region, Structure, environment, industrial growth,
agricultural growth,
4.4 Fact Finding Survey Report, Regional planning,

REFERENCES:
1. lsard, W., Location and Space Economy
2. lsard, W., Methods of Regional Analysis
3. Isard, W & Cumberland J H. Regional Economic Planning
4. Richardson, H. W., Elements of Regional Economics - Regional Growth Theory
5. Bhat1 L. S., Regional Planning in India
6. Shukla, Amabh (ed) Regional Planning and Sustainable Development
7. Misra, R. P. et. aL, Regional Development Planning in India
8. Dandekar, V. M. et. al, Fact Finding Report on Regional Imbalances in
Maharashtra
9. Friendrich, S. Webers Theory of Location of Industry
10. Mayer, J. R., Regional Economics. A Survey, AER. Vol. I & II
11. NCAER, Technol Economic Survey of Maharashtra
12. Alagh Yoginder, Agro-climatic Regional Planning in India
13. UNDP, Human Development Report
14. Shrivastava O. S. Regional Economics
15. Lo Fuchen and Salih K., Growth Pole Strategy & Regional Development Policy
16. Gilbert, A. Gugler, J., Cities, Poverty and Development. Urbanization in the Third
world
17. Mishra G. P., Regional Structure and Development and Growth in India
18. Sengupta P. and Sundasynk G. Economics Regionalisation of India: Problems and
approaches
 SHIVAJI UNIVERSITY, KOLHAPUR
NEW/ REVISED COURSE WORK FOR M Phil / PhD IN ECONOMICS
FACULTY OF SOCIAL SCIENCES
PAPER NO. I (Compulsory Paper)
RESEARCH METHODOLOGY AND APPLICATION OF QUANTITATIVE
TECHNIQUES
TOTAL MARKS: 100 Total Lectures: 60
Introduced from June 2011

PREAMBLE:
The main objective of this paper is to train the researchers about the significance of
research methodology along with the use of quantitative techniques and information
communication technology in view to carry out a high quality of research in Economics.

UNIT I: INTRODUCTION TO RESEARCH: (15 Periods, 25 Marks)

1.1 Meaning of Research: Meaning of Research – objectives of Research-

Motivation in Research- Basic principles of Research- Theory, facts and
concepts – Hypothesis
1.2 Types of Research: Descriptive, Analytical, Applied, Fundamental,
Quantitative, Qualitative, Conceptual and Empirical, Experimental and
Exploratory
1.3 Research Design: Defining research problem, meaning, need, features of
good research design, - Variables: dependent and independent

UNIT II: METHODS OF DATA COLLECTION AND SAMPLE DESIGN:

(15 Periods, 25 Marks)
2.1 Methods of Data collection: Primary data sources: Observation, Interview,
Questionnaire, Schedule- Secondary data sources: Books, Journals, Reports,
Websites
2.2 Sample Design: Census and sample survey – Steps in Sample design-
Types of Sampling Techniques - Characteristics of a good sample design
2.3 Frequency Distribution: Simple frequency, Cumulative frequency

UNIT III: DATA PROCESSING AND USE OF QUANTITATIVE TECHNIQUES:

(15 Periods, 25 Marks)
3.1 Processing: Importance of data processing
3.2 Statistics in Research: Measures of Central tendency: Mean, Mode
Median- Measures of Dispersion: Range, Mean Deviation, Standard deviation
- Measures of Relationship: Correlation, Regression.
3.3 Time series and Forecasting Analysis: Components of Time series:
Seasonal, Annual, Cyclical, Secular- Measurement of Trend: Least squares
method- Measurement of Forecasting and Growth
UNIT IV: INTRODUCTION TO COMPUTER AND INFORMATION
COMMUNICATION TECHNOLOGY (ICT) : (15 Periods , 25 Marks )

4.1 Input Devices and Output Devices: Operating system; Windows

4.2 Application Software’s: MS Excel, SPSS
4.3 Information Communication Technology: Internet, LAN, WAN, WWW,
Email, eJournals, eCommerce , eBanking , On line Publications

BASIC READING:
1. Ackott Russell L.: The Design of Social Research, University of Chicago Press,
1961.
2. Allen T. Harell: New Methods in Social Sciences Research Praeger Publishers,
New York, 1978.
3. Ballour Stephen V.A.: Model for Thesis and Research Papers, Hougton, Mifflin,
Boston, New York, 1971.
4. Berdie, Douglas R, and Anderson john F.: Questionnaires Design and Use, The
Scarecrow Press inc. Matucum N.J., 1974.
5. Barenson Conard and Cotton Raymond: Research and Report Writing for
Business and Economics, Random House, New York, 1971.
6. Backstrom C. H. Hutch Cesar G.: Survey Research, John Wiley and Sons, New
York, 1981.
7. Campbell William G.: Form and Styles in Thesis Writing, Houghton Mifflin,
Boston, New York, 1969.
8. Cochran W.G.: Sampling Technique John Wiley and Sons, New York, 1963.
9. Ferber R, and Verdoon P.S.,: Research Methods in economics and Business, The
Macmillan Company, New York.1962.

REFERENCES:
10. Freedom P.: The Principles of Scientific Research, Pergamon Press, New York,
960
11. Ghosh B.N.: Scientific Methods and Social Research Sterling Publishers Pvt. Ltd.
New Delhi, 1982.
12. Glock Charles Y.: Survey Research in the Social Sciences, Russell Sage
Foundation, New York.
13. Goode William J. and Hatt, Paul, methods in Social Research, McGraw Hill, New
York, 1952
14. Good C.V. and Seafers D.E.: Methods of Research Application, Century Crofts
Inc. New York, 1954.
15. Gopal M.H.: An Introduction to Research Procedure in Social Sciences, Asia
Publishing House, Bombay, 1964.
16. Hans Raj: Theory and Practices in Social Research, Surjeet Publication, New
Delhi, 1979.
17. Hillway T.: Introduction to Research, Houghton, Miffilin, Boston, 1969.
18. John Galtang: Theory and Methods of Social Research, George Allen and Unwin
Ltd., London. 1973.
19. Johnson and Ellen: The Research Report: A Guide for Beginner, Ronald Press,
New York, 1951.
20. Madge John: The Tools of social Research, Longman, London, 1963.
21. Moser C.A. and Kalton G.: Survey methods in Social investigation, Heinemann
Education Book Ltd., London, 1971.
22. Odum H.W. and Jocher Katharine: An Introduction to Social Research, Henry
Holt and Company, New York, 1929.
23. Pugh Griffith Thompson: Guide to Research Writing, Houghton, Miffilin, Boston,
New York, 1968.
24. Ramchandran P. : Training in Research methodology in Social Sciences in India,
ICSSR, 1971.
25. Sadhu A.N. and Singh Amerjeet: Research Methodology in Social Sciences,
Himalaya Publishing House, Bombay, 1980.
26. Seboyar G.E.: Manual for Reports and Thesis Writing: F.S. Crofts and Company,
New York, 1929.
27. Tandon B.C.: Research Methodology in Social Sciences, Chaitanya Publishing
House, Allahabad, 1979.
28. Wilkinson T. S. and Bhandarkar P.L.: Methodology and Techniques of Social
Research, Himalaya Publication House, Bombay, 1979.
29. Young Pauline V.: Scientific Social Survey and Research, Prentice Hall, New
York, 1960.
30. N.M. Downie and R.W. Heath: Basic Statistical Methods, Harper and Row, New
York, 1970.
31. Gupta S.C.: Fundamental of Statistics, Himalaya Publishing House, Bombay,
1981.
32. Howard E. Doran: Applied Regression analysis in Economics, Marcel Dekkar
Inc. New York, 1989.
33. Rangaswamy R.: Text Book of Agriculture Statistical, New Age International (P)
Limited Publishers, New Delhi, 2000.
34. Yamane, Taro: Statistic: An Introductory Analysis, Harper and Raw India and
John Weather Hill Inc. Tokyo, 1973.
35. Bowley A.C: Elements of Statistics, P S King and Staples Ltd., London 1937.
36. Cooley, Williams W. and Lohues Paul R.: Multivariate Data Analysis, Jhon
Wiley and Sons, New York, 1971.
37. Croxton F. E.: Cowden D. J. and Kleins : Applied General Statistics, Prentice Hall
of India Pvt. Ltd., New Delhi, 1975.
38. Edward Allen L.: Statistical Methods, Holf Rinechart and Winston, New York,
1967.
39. Ferber R. and Verdoorn P.J.: Research Methods in Economics and Business, The
Macmillan Company, New York, 1962.
40. Fisher R.A.: Statistical Methods for Research Workers, Hafuer Publishing
Company, New York, 1958.
41. Gibbons J.D.: Non Parameters Statistical Inferences, Macgrow Hill, Kogukasha
Ltd. Tokyo, 1971.
42. Johnson, Rodney and Siskin, Bernard R.: Quantitative Techniques for Business
Decisions, Prentice Hall of India Pvt. Ltd., New Delhi, 1977.
43. Kothari C.S.: Quantitative Technique, Vikas Publishing House Pvt. Ltd., New
Delhi, 1984.
44. Runyon, Richard P.: Inferential Statistics, Addition, Wesley Publishing Company,
Philippines, 1971.
45. Frank C. R.: Statistics and Econometrics, Holt, Rinchart and Winston Inc. New
York, 1971.
46. Hul Teh Wel: Econometrics: An Introductory Analysis, University Park Press,
Baltimore,1973.
47. Klein Lawrence R.: An Introductory Econometrics, Prentice Hall Inc., Englewood
Cliffs, N.J. 1962.
48. Draper N.R. and H. Smith, applied Regression Analysis, John Wiley and Sons
Inc., New York, 1967.
49. Koutsoyiaannis: Theory of Econometrics Harper and Row, Publishers,
incorporated, New York, 1973.
50. Rao C.R.: Linear Statistical Inferences and its Applications, John Wiley and Sons,
New York, 1975.
51. Cramer J.S.: Empirical Econometrics, North Holland Publishing Company,
Amsterdam, 1969.
52. R.K. Taxail: PC Software Made Simple, Tata McGraw Hil publishing Co. New
Delhi, 1994.
53. Peter Norton: DOS Guide, Prentice Hall of India Pvt. Limited, New Delhi, 1989.
54. Ashish Parmer: Working with Windows Tata McGraw Hill Publishing Limited,
New Delhi.
55. Combell Mary: LOUUS 123, McGraw Hill, Berkley, USA, 1986.
56. Moseley and Boodey, Mastering Microsoft Office 97, B PB Publication, New
Delhi, 1996.
57. John Walkenbach: Microsoft Excel 2000, IDG Book India (P) Ltd. New Delhi.
58. Marija J. Norusis: SPSS for Windows, Professional Statistics, SPSS, Inc.
Chicago, IIinois, 1992.
59. Ryan Joiner and Ryan: Handbook of Minitab, 1985.
60. John C. Lee Business and Financial Statistics Using Minitab 12 and Microsoft
Excel 97 World Scientific, London, 1997.