Revised Syllabus for T.Y.B.A. Economics (June 2015)

University of Mumbai

Overview of Syllabus Changes

The June 2015 revision introduced several significant changes to the T.Y.B.A. Economics program:

• Updated theoretical frameworks to include recent developments in economic theory
• Enhanced quantitative and statistical methods components with practical applications
• Introduction of new elective courses on contemporary economic issues
• Inclusion of case studies and project work for practical exposure
• Greater emphasis on India's economic development and policy challenges
• Improved alignment with postgraduate economics programs
• Incorporation of Information and Communication Technology (ICT) in teaching and learning

Semester V Courses

Core Course 1: Microeconomic Analysis - II

This course builds upon the microeconomic concepts introduced in earlier years and delves deeper into:

• Consumer theory and demand analysis
• Production and cost functions
• Market structures - Perfect competition, Monopoly, Monopolistic competition, Oligopoly
• Price discrimination under monopoly
• Welfare economics and market failure
• Game theory applications in economics
• Input-output analysis

Core Course 2: Macroeconomic Analysis - II

This advanced macroeconomics course covers:

• National income determination
• Consumption, investment and savings functions
• Fiscal policy and its effectiveness
• Monetary policy and transmission mechanisms
• Inflation, unemployment and Philips curve
• Economic growth and development models
• IS-LM framework and its applications
• Open economy macroeconomics and balance of payments

Core Course 3: Econometrics - I

An introduction to econometric methods including:

• Basic concepts and scope of econometrics
• Simple linear regression model
• Multiple regression analysis
• Hypothesis testing and confidence intervals
• Violation of classical assumptions and their remedies
• Functional forms of regression models
• Dummy variables and its applications

Core Course 4: Development Economics - I

This course focuses on:

• Concepts and measures of development
• Characteristics of developing countries
• Growth theories - Classical, Neo-classical, and Endogenous growth models
• Development planning and strategies
• Population and human development
• Education and health in development
• Inequality, poverty, and redistribution
• Environmental aspects of development

Semester VI Courses

Core Course 1: Public Economics

This course covers the theory and practice of public finance:

• Role of government in market economy
• Public goods and externalities
• Public expenditure - theories, growth, and structure
• Taxation principles and objectives
• Direct and indirect taxes in India
• Public debt and its management
• Fiscal federalism and intergovernmental transfers
• Government budgeting

Core Course 2: Economics of Growth and Development in India

An India-focused course examining:

• India's structural transformation since independence
• Agriculture sector - trends and challenges
• Industrial development and policy
• Services sector growth
• Planning and economic reforms
• Foreign trade and investment
• Infrastructure development
• Banking and financial sector reforms

Core Course 3: Econometrics - II

The advanced econometrics course includes:

• Lagged variables and distributed lag models
• Autocorrelation and its consequences
• Heteroscedasticity and its remedies
• Simultaneous equation models
• Identification problem
• Single equation methods - 2SLS and IV
• Introduction to time series analysis
• Forecasting models

Core Course 4: International Economics

This course explores global economic interactions:

• Theories of international trade - classical and modern
• Tariff and non-tariff barriers
• Trade policy and commercial policy
• Regional integration and trade blocs
• Balance of payments
• Foreign exchange markets and exchange rate systems
• International monetary systems
• International financial institutions - IMF, World Bank, WTO

Elective Courses

Students can choose from the following elective courses (typically two electives across both semesters):

• Environmental Economics
• Money and Banking
• Labor Economics
• Agricultural Economics
• Industrial Economics
• Health Economics
• Urban and Regional Economics
• Economics of Infrastructure
• Indian Economic Thought
• Financial Economics

Assessment Pattern

The evaluation system includes both internal assessment and end-semester examinations:

Component	Weightage
Internal Assessment	30%
End-Semester Examination	70%

Internal Assessment Breakdown:

• Class Participation: 5%
• Assignments/Projects: 10%
• Internal Tests: 15%

Reference Materials

The revised syllabus recommends the following types of resources:

• Popularly prescribed textbooks for each course
• Research papers and journal articles
• Government publications, including Five Year Plans, Economic Surveys, and Budget documents
• Reports from national and international organizations (RBI, World Bank, IMF, UNDP, etc.)
• Data sources like NSSO surveys, Census data, and statistical abstracts
• E-learning resources and databases

Project Work Requirements

The revised syllabus emphasizes skill development through practical application:

• Students are required to complete a research project in their final year
• Projects should relate to real economic issues or problems
• Application of econometric techniques for data analysis is encouraged
• Project reports need to include literature review, methodology, data analysis, and conclusions
• Students must present their projects before a panel of examiners

Guidelines for Students

• Regular attendance in lectures and practical sessions is essential
• Students should supplement classroom learning with extensive reading
• Active participation in discussions and seminars is encouraged
• Developing quantitative skills is crucial for complete understanding of economic concepts
• Following economic news and policy developments on a regular basis is recommended
• Utilizing library resources and online databases for research and projects
• Preparing for examinations systematically throughout the semester

Conclusion

The revised T.Y.B.A. Economics syllabus introduced in June 2015 represents a significant update to the economics program at the University of Mumbai. By incorporating contemporary economic theories, advanced quantitative methods, and a strong focus on India's economic development challenges, it aims to provide students with a comprehensive understanding of economics as a discipline. The syllabus not only prepares students for higher studies in economics but also equips them with analytical skills necessary for various career paths in government, research, financial institutions, and the corporate sector. Students are encouraged to engage deeply with the course material and develop critical thinking abilities to fully benefit from this updated curriculum.

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