MANONMANIAM SUNDARANAR UNIVERSITY

B.A. ECONOMICS DEGREE COURSE UNDER CBCS

(With effect from 2008-2009 onwards)

I Semester
Components Hours Credits
Part I
Tamil / other languages (1 Course)		 6 3
Part II
English (2 Course)		 6 3
Part III
Core Subjects (2 Courses)
Micro Economics – 1
Economic Statistics – 1 		5
5		 4
4
Allied subject – I (1 Course)
Principles and practice of Insurance 		6 5
Environmental Studies (1 Course) 2 2
Total (1 Course) 30 21


II Semesetr
Components Hours Credits
Part I
Tamil / other languages (1 Course)		 6 3
Part II
English (2 Course)		 6 3
Part III
Core Subjects (2 Courses)
Micro Economics – II
Economic Statistics – II 		5
5		 4
4
Allied subject – I (1 Course)
Principles and practice of Insurance 		6 5
Environmental Studies (1 Course) 2 2
Total (1 Course) 30 21

Note:
      Distribution of marks between Theory and internal Assessment 75:25

SYLLABUS
B.A. ECONOMICS (CBCS)
I SEMESTER
CORE SUBJECT I – MICRO ECONOMICS – PAPER I

Objective
      To enable the students to understand the basic concepts of Economics, market structure and distribution theories.

Unit – I : Introduction
      Subject matter of Economics – Main Divisions of Economics – Definitions of Economics – Micro Economics – Importance and Limitations – Distinction between Micro and Macro Economics – Economic Laws – Basic Concepts.

Unit – II: Consumption
      Human wants – Characteristics and Classification of Human wants – Law of Diminishing Marginal Utility – Law of Equi – Marginal Utility – Consumer's Surplus – Law Demand.

Unit – III: Elasticity of Demand and Indifference Curve Analysis
      Elasticity of demand – types – factors determining elasticity of demand – Measurement of Elasticity of demand – Indifference Curve Analysis – Properties of indifference Curves – Marginal Rate of Substitution – Consumer's equilibrium in terms of indifference curves – changes in consumer equilibrium – price effect – Income effect – substitution effect – Uses of IC Analysis.

Unit – IV: Factors of Production
      Meaning of production – Factors of production – Characteristics – Theories of population – Capital formation – Functions of Entrepreneurs – Division of Labour – Merits and Demerits – Large and small Scale production – Merits and demerits.

Unit – V: Production Function
      Production Function – Types of production Functions – Law of Variable Proportions – Law of Diminishing Returns – Law of Increasing Returns – Law of constant Returns – Cost of production – Fixed cost and Variable cost – Average and Marginal cost – Shortrun cost curves – Longrun cost Curves.

CORE SUBJECT II – ECONOMICS STATISTICS PAPER I

Objective
      To enable the students to understand the use of statistical tools in research.

Unit – I
      Horace Secrist's definition of statistics and explanations (only one definition) – Importance of statistics in economics – Organising a statistical survey, executing the survey – collection of data – primary and secondary data – methods of collecting primary data – sources of secondary data – sampling – census and sample method – Methods of sampling.

Unit – II
      Classification of data – Meaning and Objectives of classification – types of classification – discrete and continuous frequency distribution – tabulation and data – parts of tables – rules of tabulation – types of tables.
      Diagrmmatic and graphic presentation of data – Rles for constructing diagrams – graphs of time series data and frequency distribution.

Unit – III
      Averages – Qualities of a good average – types of averages – Arithmetic Mean, Median, Mode, Geometric Mean and Harmonic Mean – Relative Merits and demerits.

Unit – IV
      Measures of Dispersion – Qualities of a good measure of dispersion – Types of dispersion – Range, Quartile deviation – Mean deviation – Standard deviation – aboslute and relatives measures.

Unit – V
      Skewness – Types – Measures of skewness – absolute and relative measures – for types of mom, ents-Kurtosis.

LIST OF REFERENCE BOOKS

MICRO ECONOMICS I & II


1 Principles of Economics - K.P.M. Sundaram
2 Price Theory - K.K. Dewett
3 Advanced Economic Theory - M.L. Ahuja
4 Text Book of Economic Theory - A.A. Stonier & D.C. Hague
5 A Text Book of Modern Economics - Ahuja. H.L.
6 Micro Economics - M.L. Seth


ECONOMIC STATISTICS I & II


Statistical methods : S.P. Gupta, Sultan Chand and sons, New Dehlhi,Fundamentals of Mathematical Statistics, S.C. Gupta and V.K. Kapoor, Sultan and sons, New Delhi.

ALLIED SUBJECT I PRINCIPLES AND PRACTICE OF INSURANCE


Objective
      To enable the students about the need and importance of Insurance.

Unit – I
      Insurance – Definition – Origin and Importance – Principles of Insurance – Insurance contract – Insurable Interest – Reinsurance – Double Insurance – Principle of indemnity and life contract – Insurance and Assurance.

Unit – II
      Life Insurance – Definition – Uses of life Insurance – Kinds of Policies – general Principles of life insurance – Premium determination – procedure for effecting Life Insurance – LIC – Functions – Achievements – Problems – Role of life insurance – Qualities of an Agent – Procedure of settlement of a life Insurance Policy.

Unit – III
      General Insurance – Types of General Insurance – Difference between General Insurance and Life Insurance.
      Fire Insurance – Essentials of Contract – Moral and Physucal hazards – Scope of Fire Insurance – Insurable interest – Kinds of Policies, claims and recovery.

Unit – IV
      Motor Insurance – Need for Motor Insurance – Procedure of Motor Insurance – Conditions of Motor Vehicles Policy – Motor insurance claims.
      Accident Insurance – Features of personal Accident Insurance – Procedure of taking policy – Kinds of persona Accidental Policies – Conditions – Features – Claim settlement.

Unit – V
      Marine Insurance – Fundamental Principles of Marine Insurance – Classification of Marine Insurance – Kinds of Marine insurance Policies – Marine Lossess and their adjustments.

References

1 Insurance-Principles and practice - M.N. Misra
2 Principles and Practice of Insurance - Kothari and Bhal
3 Principles and practice of Insurance - G.S. Pauda
4 General Insurance - O. Richard Irwish
5 Insurance - R. Sharma
6 Life Insurance Theory and Practice - L. Mehar Robert
7 Life Insurance - Meclean
8 Life Insurance - D.S. Gupta


II SEMESTER
CORE SUBJECT I – MICRO ECONOMICS – PAPER II


Unit – I
      Revenue concepts – Revenue curves under different market conditions – Time elements – perfect Competition – Features – Price Determination – Equilibrium of firm and industry.

Unit – II
      Monopoly – Types – Features – Price determination – Discriminating Monopoly – Types – Degrees – Price Determination – Monopolistic Competition – Features – Price determination.

Unit – III
      The Marginal Productivity Theory of Distribution – Rent – Ricardian Theory of Rent – Quasi – Rent – Modern Theory of rent.

Unit – IV
      Wages – Money wage – Real wage – Difference in wage – Theories of Wages – Trade union and wages.

Unit – V
      Interest – Net interest – Gross interest – Theories of internet – Liquidity preference theory – Loan - able fund theory – Profit – Net Profit – Gross Profit – Theories of Profit – Risk and un –certainty theories – Dynamic theory of profit.

CORE SUBJECT I – ECONOMIC STATISTICS PAPER II


Unit – I
      Correlation Analysis – Significance of the study – Types of Correlation – various methods of studying correlation – problems.
Rank Correlation – Regression Analysis and Regression line.

Unit – II
      Analysis of time series – Utility of time series analysis – the four components of time series and, easurement of trend and seasonal variations.

Unit – III
      Index Numbers – Classification of index number – difficulties in the construction of index numbers – unweighted and weighted index numbers – Types.

Unit – IV
      Association of attributes – Difference between correlation and association – Consistency of data association and disassociation – Methods of studying – Association.

Unit – V
      Probability Theory – Random experiments and events – Theorems of probability – Addition theorem – Multiplication theorem (Statement only)

ALLIED SUBJECT I – PRINCIPLES OF MANAGEMENT


Objective
      To enable the student to develop skills regarding Management Functions.

Unit – I
      Management – Nature, Scope and Importance of Management – Levels of Management – Difference between Administration and Management – Functions of management – Contributions of Management by Frederick Winslow Taylor, Henry Fayol and Cherter I, Barnard.

Unit – II
      Planing – Characteristics of planning – Planning premises – steps in planning process – types of planning – Advantages of planning – Managerial Decision making – Process and steps involved in Decision Making.

Unit – III
      Organisation – Principles of Organisation – Forms of Organisation – Line, Functional, Line and Staff, Committee.
      Leadership styles and patterns – Positive, Nagative, Autocratic, Democratic, Laizes Faire – Qualities of Leadership.

Unit – IV
      Motivation – Importance – Theories – Maslow's Hierarchy of Needs Theory – Douglas Mc. Gregor's 'X' Theory and 'Y' Theory – Frederick Henryberg's motivation Theory of Needs.

Unit – V
      Communication – Importance and Channels of Communication – Barriers of Communication.
      Controlling – Importance – Steps in control process – Techniques of control. Co-ordination – Need and Importance of co-ordination – Techniques of Co-ordination.

References

1 Principles of Management - Koontz and 'O' donnel
2 Organisational behaviour - Stephens Robins
3 Managing by Communication - Myers
4 Principles of Management - Harold Koontz, Heinz Weihrich, A.Ramachandra Aryasri
5 Principles and Practice of Management - L.M. Prasad