MA Economics IGNOU Syllabus

MA Economics IGNOU Syllabus –

Course Code Course Name

MA Economics IGNOU Syllabus

Micro Economic Analysis

Block 1: Consumer Behaviour
Unit 1: Theory of Consumer Behaviour: Basic Themes
Unit 2: Theory of Demand : An Alternative Approaches
Unit 3: Recent Developments of Demand Theory
Block 2: Producer Behaviour
Unit 4: Theory of Production
Unit 5: Theory of Cost
Unit 6: Production Economics

Block 3: Price and Output Determination – I
Unit 7: Perfect Competition
Unit 8: Monopoly
Unit 9: Monopolistic Competition
Block 4: Price and Output Determination-II
Unit 10: Non-Collusive Oligopoly
Unit 11: Collusive Oligopoly
Unit 12: Alternative Theory of Firm-I
Unit 13: Alternative Theory of Firm-II
Block 5: Welfare Economics
Unit 14: Pigovian vs. Paretain Approach
Unit 15: Social Welfare Function
Unit 16: Imperfect Market, Externality and Public Goods
Unit 17: Social Choice and Welfare
Block 6: General Equilibrium
Unit 18: Partial and General Equilibrium Approaches
Unit 19: Production without Consumption
Block 7: Economics of Uncertainty
Unit 20: Choice in Uncertain Situations
Unit 21: Insurance Choice and Risk
Unit 22: Economics of Information
Block 8: Non-Cooperative Game Theory
Unit 23: Modelling Competitive Situations
Unit 24: Solution Concepts of Non-Cooperative Games
Unit 25: Games of Incomplete Information
Unit 26: Repeated Games


MA Economics IGNOU Syllabus

Macro Economic Analysis

Block 1: Traditional Approaches to Macroeconomics
Unit 1: Classical and Keynesian Approaches
Unit 2: Neoclassical Synthesis

Block 2: Economic Growth
Unit 3: The Solow Model
Unit 4: Endogenous Growth Model
Block 3: Rational Expectations
Unit 5: Rational Expectations and Economic Theory
Unit 6: Policy-Making under Uncertainly
Block 4: Inter-temporal Decision-Making
Unit 7: Consumption and Asset Prices
Unit 8: The Ramsey Model
Unit 9: The Overlapping Generations Model
Unit 10: Money and the Role of Monetary Policy
Block 5: Economic Fluctuations
Unit 11: Traditional Theories of Business Cycles
Unit 12: Real Business Cycles
Block 6: Unemployment
Unit 13: Traditional Theories
Unit 14: Search Theory and Unemployment
Unit 15: Nominal and Real Rigidities
Unit 16: New-Keynesian Theories of Unemployment
Block 7: Open-Economy Macro-Modelling
Unit 17: Flexible Exchange-Rate System
Unit 18: Fixed-Exchange Rate System
Unit 19: Sluggish Price Adjustment


MA Economics IGNOU Syllabus

Quantitative Methods for Economic Analysis


Block 1: Introduction to Differential Calculus
Unit 1: Functions, Limit and Continuity
Unit 2: Differential Calculus
Unit 3: Partial Differentiation
Block 2: Extreme Values and Optimisation
Unit 4: Maxima and Minima
Unit 5: Unconstrained Optimisation
Unit 6: Constrained Optimisation
Block 3: Integral Calculus and Economic Dynamics
Unit 7: Integration and Applications of Economic Dynamics
Unit 8: Differences Equations and Economic Dynamics
Block 4: Linear Algebra and Economics Application
Unit 9: Vectors and Matrices
Unit 10: Linear Algebra
Unit 11: Input-Output Analysis
Unit 12: Linear Programming
Block 5: Statistical Methods – I
Unit 13: Descriptive Statistics and Data Presentation
Unit 14: Correlation and Regression
Unit 15: Probability Theory
Unit 16: Probability Distributions
Block 6: Statistical Methods – II
Unit 17: Sampling Theory
Unit 18: Sampling Distribution
Unit 19: Statistical Inference


MA Economics IGNOU Syllabus

Economics of Growth and Development


Block 1: Economic Growth Models – I
Unit 1: Introduction to Economic Growth
Unit 2: Harrod Domar Growth Model
Unit 3: Neo-classical Growth Models
Block 2: Economic Growth Models – II
Unit 4: Growth and Distribution
Unit 5: Total Factor Productivity and Growth Accounting
Unit 6: Technological Change and Progress
Block 3: Economic Growth Model-III
Unit 7: Models of Optimal Economic Growth
Unit 8: Multi-Sector Models of Growth
Unit 9: Endogenous Growth Models
Unit 10: Stochastic Growth Models
Block 4: Social and Institutional Aspects of Development
Unit 11: Development and Underdevelopment
Unit 12: Measurement and Indicators of Development
Unit 13: Population and Development
Unit 14: Economic Development and Institutions
Unit 15: Market Incompleteness and Informal Institutions in the Rural Economy
Block 5: Theories of Development
Unit 16: Classical Theories of Development
Unit 17: Schumpeter and Capitalistic Development
Unit 18: Theories of Underdevelopment
Block 6: Development Strategies
Unit 19: Allocation of Resources
Unit 20: Cost-Benefit Analysis
Unit 21: Role of Planning
Unit 22: Trade and Development


MA Economics IGNOU Syllabus

Indian Economic Policy


Block 1: Framework on Indian Economy
Unit 1: Economic Policy: An Introduction
Unit 2: Trend and Structure of National Income
Unit 3: Demographic Features and Indicators of Development
Unit 4: Poverty and Inequality: Policy Implications
Unit 5: Employment and Unemployment: Policy Implications

Block 2: Development Strategies in India
Unit 6: Planning in India: Objectives Strategies and Evaluation
Unit 7: Economic Reforms in India
Unit 8: Critique of Economic Reforms
Block 3: Sectoral Performance I
Unit 9: Agriculture : Growth, Productivity Trends and Crop Patterns
Unit 10: Issues and Concerns in Indian Agriculture
Unit 11: Industrial Sector in Pre-reform Period
Unit 12: Industrial Sector in Post-reform Period
Block 4: Sectoral Performance II
Unit 13: Infrastructure
Unit 14: Indian Financial System: Money Market and Monetary Policy
Unit 15: Capital Market in India and Working of SEBI
Block 5: Sectoral Performance III
Unit 16: Foreign Trade and Balance of Payment
Unit 17: India and International Institutions
Unit 18: Multinational Corporations and Foreign Capital
Unit 19: Government Finance : Union and States
Unit 20: Fiscal Federalism in India
Block 6: Governance of the Economy
Unit 21: Implementation of Economic Policies and Parallel Economy
Unit 22: Role of Bureaucracy and Delivery Mechanism in Implementation of Economic Policies
Unit 23: Implementation of Economic Policies: Role of Panchayat and Pressure Groups






MA Economics IGNOU Syllabus

Public Economics

Block 1: Public Economics: Basic Concepts
Unit 1: Welfare Foundations of Economic Policies
Unit 2: Theory of Market Failure
Unit 3: Voting and Local Public Goods
Block 2: Social Choice and Collective Decision Making

Unit 4: Arrow’s Impossibility Theorem: Social Choice and Individual Values
Unit 5: Normative Models: Equity and Justice
Unit 6: Spatial Voting Models
Block 3: Public Policy: Mechanisms Design, Agenda Setting and Information
Unit 7: The Basics of Public Policy
Unit 8: Mechanism Design
Unit 9: International Policy Coordination
Block 4: Economics of Taxation
Unit 10: Commodity Taxes
Unit 11: Direct Taxes
Unit 12: Introduction to Optimal Taxation
Block 5: Public Debt
Unit 13: Theory of Public Debt
Unit 14: Source of Public Debt
Unit 15: Management of Public Debt
Block 6: Fiscal Federalism
Unit 16: Fiscal Federalism and Fiscal Policy
Unit 17: Equity and Efficiency Issues
Unit 18: State and Local Goods


MA Economics IGNOU Syllabus

International Trade and Finance


Block 1: International Trade Theory
Unit 1: Free Trade Theory
Unit 2: Alternative Explanations of Trade
Unit 3: Gains from Free Trade and Welfare
Block 2: Trade Policy
Unit 4: Theories of Protectionism
Unit 5: Role of WTO in Trade Policy

Unit 6: Multilateralism and Problems of Developing Countries with WTO
Block 3: Balance of Payments, BoP Adjustments, Exchange Rates
Unit 7: Balance of Payments: Introduction
Unit 8: International Monetary Systems and Exchange Rate Regimes
Unit 9: International Financial Institutions
Unit 10: International Debt and the Role of Financial Insitutions
Block 4: Globalisation, Trade and Developing Countries
Unit 11: Trade and Development
Unit 12: Issues Related to Trade in Primary Commodities
Unit 13: Issues on Trade in Services (GATS)
Unit 14: Trade Negotiations under the WTO: A Historical View
Block 5: Theory of Regional Blocs
Unit 15: Regional Trading Blocs
Unit 16: International Capital Mobility and the Emerging Monetary System
Block 6: International Trade and Payments in India
Unit 17: India’s Trade Policy: Historical Perspective and Recent Developments
Unit 18: India’s Balance of Payments
Unit 19: Trade and Development in India


MA Economics IGNOU Syllabus

Economics of Social Sector and Environment

Block 1: Society and Economic Development: Some Hard Facts
Unit 1: Inequality and Development: Concepts and Measurement
Unit 2: Inequality and Poverty
Unit 3: Natural Resources and Development
Block 2: Society Beyond Market
Unit 4: Market Failure and its Sources
Unit 5: Government Regulation in the Economy
Unit 6: Institutional Economics
Block 3: Sustainable Development and Environment
Unit 7: Green Accounting
Unit 8: Valuation of Environment

Unit 9: Theory of Environmental Policy
Block 4: Natural and Common Property Resources
Unit 10: Natural Resource Management
Unit 11: Common Property Resource Management
Unit 12: Environmental and Natural Resource Problems in India
Block 5: Economics of Education
Unit 13: Education and Economic Development
Unit 14: Demand and Supply considerations of Education
Unit 15: Educational Planning and Economic Growth
Unit 16: Educational Financing
Block 6: Health Economics
Unit 17: Health Dimensions of Development
Unit 18: Determinations of Health Status
Unit 19: Economic Dimensions of Financing of Healthcare


MA Economics IGNOU Syllabus

Research Methods in Economics


Block 1: Research Methodology: Issues and Perspectives
Unit 1: Positivist View on Nature of Science
Unit 2: Post Positivist View on Nature of Science
Unit 3: Models of Scientific Explanation
Unit 4: Debates on Models of Explanation in Economics
Block 2: Methods and Design of Research
Unit 5: Research Methodology: Conceptual Foundations
Unit 6: Data Collection: Census and Survey Methods
Unit 7: Sampling Design

Block 3: Quantitative Methods-I
Unit 8: Correlation and Regression Analysis
Unit 9: Two Variable Regression Models
Unit 10: Multiple Regression Model
Block 4: Quantitative Methods-II
Unit 11: Measures of Inequality
Unit 12: Time Series Analysis
Unit 13: Index Numbers
Block 5: Qualitative Methods
Unit 14: Qualitative Research and Techniques
Unit 15: Qualitative Data: Formatting and Processing
Unit 16: Analysis and Presentation of Qualitative Data
Unit 17: Application of RRA/PRA Approaches: A Case Study of Improved Health
Block 6: Data Base of Indian Economy
Unit 18: Macro-variable Data: National Income, Saving and Investment
Unit 19: Agricultural and Industrial Data
Unit 20: Trade and Finance
Unit 21: Social Sector


MA Economics IGNOU Syllabus

Econometric Methods


Block 1: Basic Econometric Theory
Unit 1: Introduction to Econometric
Unit 2: Estimation of Two-variable Regression Model
Unit 3: Statistical Inference in Simple Regression Models
Unit 4: Multiple Regression Model
Unit 5: Generalised Least Squares
Block 2: Treatment of Violations of Basic Assumptions
Unit 6: Multicollinearity
Unit 7: Auto Correlation
Unit 8: Heteroscedasticity
Unit 9: Errors in Variables
Block 3: Extensions of Regression Models
Unit 10: Dummy Variable Models
Unit 11: Autoregressive and Distributed Lag Models
Unit 12: Discrete Dependent Variable Models

Block 4: Simultaneous Equation Models
Unit 13: Introduction to Simultaneous Equation Models
Unit 14: Identification Problem
Unit 15: Estimation of simultaneous Equation Models
Block 5: Multivariate Analysis
Unit 16: Introduction to Multivariate Analysis
Unit 17: Principal Component Analysis
Unit 18: Factor Analysis

MECE-003 Actuarial Economics: Theory and Practice


Block 1: Quantitative Techniques for Risk Analysis
Unit 1: Applied Probability I
Unit 2: Applied Probability II
Unit 3: Stochastic Process
Unit 4: Application to Finance
Block 2: Actuarial Techniques I
Unit 5: Valuing Risk Management
Unit 6: Stochastic Models in Insurance
Unit 7: Theory of Interest
Block 3: Actuarial Modelling I
Unit 8: Life Insurance
Unit 9: Collective Insurance and Company Operations
Unit 10: Insurance Pricing
Block 4: Actuarial Techniques II
Unit 11: Cash Flow Projections
Unit 12: Life Contingencies
Unit 13: Credibility Theory
Block 5: Actuarial Modelling II
Unit 14: Reinsurance
Unit 15: Extreme Value
Unit 16: Stochastic Control and Insurance
Block 6: Non-Life Reserving and Accounts
Unit 17: Reserving Techniques
Unit 18: Dynamic Financial Analysis
Block 7: Introduction to Regulation of Insurance
Unit 19: Forms of Regulation

Unit 20: Regulation of Insurance in India

MECE-004 Financial Institutions and Markets


Block 1: Nature and Role of Financial System
Unit 1: The Role of Financial Markets in the Economy
Unit 2: Money and Finance
Unit 3: Risk and Financial Assets
Unit 4: Interest Rates and Cash Flows
Block 2: Financial Markets
Unit 5: Money Markets
Unit 6: Capital and Equity Markets
Unit 7: Derivatives Markets
Unit 8: Structure of Financial Markets
Block 3: Financial Institutions
Unit 9: Financial Intermediaries
Unit 10: Commercial Banking
Unit 11: Investment Banking
Unit 12: Trading and Exchanges
Block 4: The Financial Sector and Monetary Policy
Unit 13: Money and the Economy
Unit 14: Money Creation and Central Banking
Unit 15: Interest Rate Risk
Unit 16: Credit Risk and Other Risks
Block 5: International Financial Markets
Unit 17: Exchange Rates
Unit 18: Rise and Fall of Bretton wood Institutions
Unit 19: Regional Financial Institutions

MEC-105 MA Economics IGNOU Syllabus Indian Economy Policy

Project Work – MECP-001 – MA Economics IGNOU Syllabus

In the MA (Economics) programme the student has a choice between MEC-009: Research Methods in
Economics and MECP-001: Project Work. While evaluation for MEC-009 is on the basis of assignments
and TEE that for MECP-001 is based on submission of a Project Report and viva voce examination on
the project report submitted. There is no assignment for MECP-001. The student is expected to conduct an in-depth study on a topic and reveal his/her analytical and presentation skills. Therefore, the topic for project report should be precise. Project Report should be of  about 8000-10000 words (about 50-60 pages), typed double space. a Project Guide is dispatched to students along with study material to help them in preparing the Project Report.
The Study Centre provides a supervisor (one of the Academic Counselors for this Course) at the Study Centre for preparation of the Project Report. The student is expected to develop a Project Proposal in consultation with the supervisor allotted to him/her by the Study Centre. The Project Proposal duly endorsed by the supervisor is submitted to the Faculty of Economics, School of Social Sciences,
IGNOU, New Delhi for approval. Project Report submitted without a supervisor or without the approval of the proposal by the Faculty of Economics at IGNOU headquarters will not be accepted for evaluation by SR&E Division.
Before writing the Project Report, the Project Proposal should be sent for approval to ‘The Programme Coordinator, MA (Economics) Programme, Block F, School of social Sciences, IGNOU Campus, Maidan Garhi, New Delhi 110 068’. A proforma for submission of Project Proposal is included in the Project Guide. When the Project Report is complete, it should be sent to the Registrar SR&E Division, IGNOU, Maidan Garhi, New Delhi -68 for evaluation purpose, Completed project report should NOT be sent to the Programme Coordinator/Faculty of Economics.

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