PAPER- I
1. Advanced Micro Economics:
(a) Marshallian and Walrasiam Approaches to Price determination.
(b) Alternative Distribution Theories: Ricardo, Kaldor, Kaleeki
(c) Markets Structure: Monopolistic Competition, Duopoly, Oligopoly.
(d) Modern Welfare Criteria: Pareto Hicks & Scitovsky, Arrow’s Impossibility Theorem, A.K. Sen’s Social Welfare Function.
- Cardinal Utility Theory
- Budget Constraint
- Consumer Preferences
- Utility
- Choice
- Demand
- Duality and Indirect Utility function and Expenditure function
- Revealed Preference
- Slutsky equation
- Buying and Selling
- Intertemporal Choice
- Consumer Surplus
- Uncertainty Part 1
- Uncertainty Part 2
- Introduction to Game Theory and Prisoner’s Dilemma (No Demo)
- Strictly and Weakly Dominated Strategies (No Demo)
- Battle of Sexes and Stag Hunt (No Demo)
- Mixed Strategy Nash Equilibrium 2 X 2 form and 3 X 3 form (No Demo)
- Extensive Form Game and Battle of Sexes Example (No Demo)
- Backward Induction and its Examples (No Demo)
- Producer Theory
- Elasticity of Substitution
- Cobb Douglas Production Function
- CES Production Function
- Translog Production Function
- Returns to Factor and Returns to Scale
- Cost Theory Part 1
- Cost Theory Part 2
- Duality and Cost functions
- Existence of General Equilibrium Prices Part 1
- Existence of General Equilibrium Prices Part 2
- Edgeworth Box, Pareto Efficiency and Competitive Equilibrium (Cobb Douglas)
- Edgeworth Box, Pareto Efficiency and Competitive Equilibrium (Perfect Substitutes and Perfect Complements)
- Perfect Competition Part 1
- Perfect Competition Part 2 (LR Supply Function- Constant Cost Industry)
- Perfect Competition Part 3 (LR Supply Function – Increasing and Decreasing Cost Industry)
- Profit Maximization Part 1 (No Demo)
- Profit Maximization Part 2 (No Demo)
- Monopoly Part 1
- Monopoly Part 2
- Imperfect Competition Part 1 (Bertrand Model)
- Imperfect Competition Part 2 (Cournot Model)
- Imperfect Competition Part 3 (n firm Cournot)
- Imperfect Competition Part 4 (Product Differentiation in Cournot and Bertrand)
- Imperfect Competition Part 5 (Tacit Collusion)
- Imperfect Competition Part 6 (Entry Deterrence)
- Imperfect Competition Part 7 (Stackelberg Model)
- Perfect Competition
- Monopoly
- Market Structure and Market Power
- Technology and Cost functions
- Monopoly and Third Degree Price Discrimination
- Second Degree and First Degree Price Discrimination
- Commodity Bundling Strategy
- Strategic Interaction and Cournot Model
- Bertrand Model and Stackelberg Model
- Entry Deterrence
- Market Structure and Size
- Research and Development
- Planning and Development : Part 1
- Planning and Development : Part 2
- Planning and Development : Part 3
- Public Sector Pricing (Covered under Public Economics)
- Marshallian and Walrasian Stability Analysis -Part 1
- Marshallian and Walrasian Stability Analysis -Part 2
- Marshallian and Walrasian Stability Analysis -Part 3
- Pricing with Incomplete Information (Asymmetric Information) – Part 1
- Pricing with Incomplete Information (Asymmetric Information) – Part 2
- Moral Hazard – Part 1
- Moral Hazard – Part 2
- Marginal Productivity Theory of Distribution under Perfect Competition
- Factor Shares and Adding up Problems and Euler’s Theorem Part 1 (No Demo)
- Factor Shares and Adding up Problems and Euler’s Theorem Part 2 (No Demo)
- Two Welfare Theorems and their Implications
- Marginal Productivity Theory of Distribution under Perfect Competition
- Wage Determination under Monopsony Part 1
- Wage Determination under Monopsony Part 2
- Bilateral Monopoly
- Kaldor’s Theory of Distribution
- Kalecki’s Theory of Distribution
- Ricardo’s Theory of Distribution
- Marx Theory of Distribution
- Pricing under Imperfect Competition -Part 1
- Pricing under Imperfect Competition -Part 2
- Pricing under Imperfect Competition -Part 3
- Arrow-Impossibility Theorem Part 1
- Arrow-Impossibility Theorem Part 2
- Interpersonal Comparison and Aggregation Problem
- Divergence between Social and Private Welfare
- Pareto Optimality
- Social Choice – Sen
- Social Choice – Coase
2. Advanced Macro Economics
Approaches to Employment Income and Interest Rate determination: Classical, Keynes (IS-LM) curve, Neo classical synthesis and New classical, Theories of Interest Rate determination and Interest Rate Structure
- History of Economic Thought : Part 1
- History of Economic Thought : Part 2
- History of Economic Thought : Part 3
- National Income Accounting Part 1
- National Income Accounting Part 2
- National Income Accounting Part 3
- National Income Accounting Part 4
- Green National Income
- Money and Inflation Part 1
- Money and Inflation Part 2
- Money and Inflation Part 3
- Classical Theory of Output and Employment Part 1
- Classical Theory of Output and Employment Part 2
- Classical Theory of Interest Rate Part 1
- The Closed Economy in the Short Run Part 1
- The Closed Economy in the Short Run Part 2
- The Closed Economy in the Short Run Part 3
- Monetary and Fiscal Policy Part 1
- Monetary and Fiscal Policy Part 2
- Monetary and Fiscal Policy Part 3
- Monetary and Fiscal Policy Part 4
- Nominal and Real Interest Rates Part 1
- Nominal and Real Interest Rates Part 2
- The Labour Market Part 1
- The Labour Market Part 2
- AD- AS Model Part 1
- AD- AS Model Part 2
- Theory of Adaptive Expectations
- Theory of Rational Expectations Part 1
- Theory of Rational Expectations Part 2
4. International Economics:
(a) Old and New Theories of International Trade
(i) Comparative Advantage
(ii) Terms of Trade and Offer Curve.
(iii)Product Cycle and Strategic Trade Theories.
(iv)Trade as an engine of growth and theories of under development in an open economy.
(b) Forms of Protection: Tariff and quota.
(c) Balance of Payments Adjustments: Alternative Approaches.
(i) Price versus income, income adjustments under fixed exchange rates,
(ii) Theories of Policy Mix
(iii)Exchange rate adjustments under capital mobility
(iv) Floating Rates and their Implications for Developing Countries: Currency Boards.
(v) Trade Policy and Developing Countries.
(vi) BOP, adjustments and Policy Coordination in open economy macro-model. (vii) Speculative attacks
(viii) Trade Blocks and Monetary Unions. (ix) WTO: TRIMS, TRIPS, Domestic Measures, Different Rounds of WTO talks.
- Theory of Absolute Advantage
- Theory of Comparative Advantage
- Comparative Advantage and Opportunity Costs Part 1
- Comparative Advantage and Opportunity Costs Part 2
- The Standard Theory of International Trade Part 1
- The Standard Theory of International Trade Part 2
- The Standard Theory of International Trade Part 3
- Offer Curves and Terms of Trade Part 1
- Offer Curves and Terms of Trade Part 2
- Factor Intensity and Factor Abundance
- Heckscher Ohlin Theorem
- The Factor Price Equalization Theorem
- The Specific Factors Model
- Leontief Paradox and Factor Intensity Reversal
- Trade Based on Economies of Scale and Product Differentiation
- Intra Industry Trade Model (No Demo)
- Technological Gap Model (No Demo)
- Product Cycle Model (No Demo)
- Factor Growth and Rybczynski Theorem (No Demo)
- Technical Progress and Small Country Case
- Factor Growth, Trade, Welfare : Small Country Case
- Partial Equilibrium Analysis of Tariff : Small Country Case
- General Equilibrium Analysis of Tariff Small Country Case
- General Equilibrium Analysis of Tariff Large Country Case
- Introduction : NER, RER, Nominal and Real Appreciation and Depreciation
- Introduction : BOP Account and UIP condition
- Dd for Domestic Goods and Domestic Dd for Goods
- Marshall Lerner Conditions and Effects of Depreciation
- J Curve
- Equilibrium in Open Economy Money Market
- Fiscal and Monetary Policy in Open Eco and Flexible ER’s
- Fixed ER and Fiscal and Monetary Policy
- Flexible and Fixed ER’s
- Consequences of Overvaluation and Undervaluation
- BOP and External Accounts Must Balance (No Demo)
- Accommodating Transactions (No Demo)
- Mundell Flemming Model Part 1 (Horizontal BP curve) (No Demo)
- Mundell Flemming Model Part 2 (Horizontal BP curve) (No Demo)
- Mundell Flemming Model Part 3 (Different Slopes of BP curve) (No Demo)
5. Growth and Development:
(a) (i) Theories of growth: Harrod’s model,
(ii) Lewis model of development with surplus labour
(iii) Balanced and Unbalanced growth,
(iv) Human Capital and Economic Growth.
(v) Research and Development and Economic Growth
(b) Process of Economic Development of Less developed countries: Myrdal and Kuzments on economic development and structural change: Role of Agriculture in Economic
Development of less developed countries.
(c) Economic development and International Trade and Investment, Role of Multinationals.
(d) Planning and Economic Development: changing role of Markets and Planning, PrivatePublic Partnership
(e) Welfare indicators and measures of growth – Human Development Indices. The basic needs approach.
(f) Development and Environmental Sustainability – Renewable and Non Renewable Resources, Environmental Degradation, Intergenerational equity development.
- Adam Smith Theory of Growth
- Ricardo’s Theory of Growth
- Malthusian Theory of Growth (No Demo)
- Classical Theory of Growth
- Marxian Theory of Growth Part 1
- Marxian Theory of Growth Part 2
- Marxian Theory of Growth Part 3
- Schumpeterian Theory of Growth
- Marx’s Stages of Growth
- Rostow’s Stages of Growth Part 1
- Rostow’s Stages of Growth Part 2
- Gerschenkron’s Great Spurt Theory
- Nurkse’s and Lewis’s views on Economic Development
- Nurkse’s Theory of Balanced Growth
- Hirschman Theory of Unbalanced Growth
- Lewis Theory of Unlimited Supply of Labour
- Fei Ranis Theory of Economic Development Part 1
- Fei Ranis Theory of Economic Development Part 2
- Leibenstein’s Critical Minimum Effort Thesis
- Rosenstein Rodan Big Push Theory
- Nelson’s Low Level of Equilibrium Trap
- Kaldor Mirrlees Model of Economic Growth
- International Structuralist Models
- Dualism Introduction
- Social, Technological and Financial Dualism
- Economic Development and Economic Growth
- Good Governance and Humane Governance Index
- Growth of GNP Approach vs Basic Needs Approach
- Human Development Index
- Solow Growth Model Part 1
- Solow Growth Model Part 2
- Solow Growth Model Part 3
- Harrod Domar Model
- Sen’s Capability Approach to Development
- Human Development Index
- Physical Quality of Life Index
- Human Poverty Index
- Canons of Taxation
- Theories of Taxation Part 1
- Theories of Taxation Part 2
- Public Goods and their Optimal Provision
- Free Rider Problem and Lindahl’s Pricing
- Lindahl’s Pricing and Majority Voting
- Arrow Impossibility Theorem and Median Voter Theory
- Direct and Indirect Taxes
- Incidence of taxes
- Optimal Taxation Part 1
- Optimal Taxation Part 2
- Theories of Public Expenditure
- Effects of Public Expenditure
- Public Debt Part 1
- Public Debt Part 2
- Cost Benefit Analysis
- Revealed Preference Method
- Stated Preference Method
- Shadow Pricing
- Air Pollution
- Property Rights and Externalities Part 1
- Property Rights and Externalities Part 2
- Investment Decision Criteron for Public Sector Projects And Efficient Allocation of Pollutants
- Cost Effective Policies for Fund Pollutants
- Static and Dynamic Efficient Allocation of Depletable Resources
- Water Pollution
- Timber Harvesting
- Economics of Fisheries
- Economics of Oil and Natural Gas
- Toxic Substances and Pollution
PAPER- II
2. Indian Economy after Independence:
A. The Pre Liberalization Era:
- Contribution of Vakil, Gadgil and V.K.R.V. Rao.
- Agriculture: Land Reforms and land tenure system, Green Revolution and capital formation in agriculture,
- Industry Trends in composition and growth, Role of public and private sector, Small scale and cottage industries.
- National and Per capita income: patterns, trends, aggregate and Sectoral composition and changes theirin.
- Broad factors determining National Income and distribution, Measures of poverty, Trends in poverty and inequality.
B. The Post Liberalization Era:
i. New Economic Reform and Agriculture: Agriculture and WTO, Food processing, Subsidies, Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth.
ii. New Economic Policy and Industry: Strategy of industrialization, Privatization, Disinvestments, Role of foreign direct investment and multinationals.
iii. New Economic Policy and Trade: Intellectual property rights: Implications of TRIPS, TRIMS, GATS and new EXIM policy.
iv.New Exchange Rate Regime: Partial and full convertibility, Capital account convertibility.
v. New Economic Policy and Public Finance: Fiscal Responsibility Act, Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation.
vi. New Economic Policy and Monetary system. Role of RBI under the new regime.
vii. Planning: From central Planning to indicative planning, Relation between planning and markets for growth and decentralized planning: 73rd and 74th Constitutional amendments.
viii. New Economic Policy and Employment: Employment and poverty, Rural wages, Employment Generation, Poverty alleviation schemes, New Rural, Employment Guarantee Scheme.
Here I have recorded primarily the entire Uma Kapila’s big version. I would urge all students to buy the book. This is one of the most revered book in Indian Economics. We will be adding more readings from EPW and other sources. One other good book is, “Oxford Companion to Indian Economics” edited by Kaushik Basu. Also, note that following recordings are in no way a substitute of the book, you have to read the book, chapter by chapter and also listen to the recordings, to get the greater understanding of the reading.
- Indian Economy at Independence – Introduction : Uma Kapila
- Economic Legacies of Colonial Rule in India (Part 1) : Tirthankar Roy
- Economic Legacies of Colonial Rule in India (Part 2) : Tirthankar Roy
- Planning, Market and the State : Uma Kapila
- Mahalanobis Model Part 1
- Mahalanobis Model Part 2
- Vakil Brahmanand Wage goods Model
- XII Five Year Plan-Some issues : Manmohan Singh
- Growth and Structural Change since 1950 (Part 1) : Uma Kapila
- Growth and Structural Change since 1950 (Part 2) : Uma Kapila
- Growth and Structural Change since 1950 (Part 3) : Uma Kapila
- Recovery of Indian Economy during Nehru Era Part 1 : P Balakrishnan
- Recovery of Indian Economy during Nehru Era Part 2 : P Balakrishnan
- Macroeconomic Overview : The Growth Story (Part 1) : Manoj Panda
- Macroeconomic Overview : The Growth Story (Part 2) : Manoj Panda
- Growth experience of Indian economy : Arvind Subramanian
- Story of sustained increase in savings and investment during 1950-2008 : Rakesh Mohan (Part 1)
- Story of sustained increase in savings and investment during 1950-2008 : Rakesh Mohan (Part 2)
- Growth and Investment – The Interlinks : C.Rangarajan
- Myths about Indian Reforms : Bhagwati and Panagariya
- Demographic Constraint : Uma Kapila (Part 1)
- Demographic Constraint : Uma Kapila (Part 2)
- India’s Demographic Transition and its consequences for Development : Tim Dyson
- Debate on Demographic dividend in India : KS James
- Integrating Growth and Development Part 1
- Integrating Growth and Development Part 2
- India in Comparative Perspective (Part 1)
- India in Comparative Perspective (Part 2)
- Poverty, Inequality and Unemployment (Part 1) : Uma Kapila
- Poverty, Inequality and Unemployment (Part 2) : Uma Kapila
- Poverty, Inequality and Unemployment (Part 3) : Uma Kapila
- Poverty, Inequality and Unemployment (Part 4) : Uma Kapila
- Poverty, Inequality and Unemployment (Part 5) : Uma Kapila
- Counting the Poor : Measurement and Other Issues (Part 1) : Rangarajan and Mahendra Dev
- Counting the Poor : Measurement and Other Issues (Part 2) : Rangarajan and Mahendra Dev
- Labour and Employment in Fast Growing India (Part 1) : Papola and Sharma
- Labour and Employment in Fast Growing India (Part 2) : Papola and Sharma
- Labour and Employment in Fast Growing India (Part 3) : Papola and Sharma
- Inequities in Access to Health Services in India Part 1
- Inequities in Access to Health Services in India Part 2
- Inequities in Access to Health Services in India Part 3
- Inequities in Access to Health Services in India Part 4
- India’s Education Policy (Part 1)
- India’s Education Policy (Part 2)
- India’s Education Policy (Part 3)
- Indian Agriculture Issues, Policies and Reforms (Part 1) : Uma Kapila
- Indian Agriculture Issues, Policies and Reforms (Part 2) : Uma Kapila
- Indian Agriculture Issues, Policies and Reforms (Part 3) : Uma Kapila
- Agricultural Development in India (Part 1) : S Mahendra Dev
- Agricultural Development in India (Part 2) : S Mahendra Dev
- The Context and Conundrums of Contemporary Agriculture
- Agricultural Price Policy, Farm Profitability and Food Security : Dev and Rao
- National Food Security Act : Ashok Gulati and Shweta Saini
- Industrial Development and Policies since Independence (Part1) : Uma Kapila
- Industrial Development and Policies since Independence (Part2) : Uma Kapila
- Industrial Performance 1991 – 2008 : R Nagraj
- Industrial Development and Policies in India since Independence : KL Krishna
- Public Sector Performance Since 1950 : A Fresh Look : R Nagraj
- On Strategies of Disinvestment and Privatization : Vijay Kelkar
- Of Omissions and Commissions : India’s Competition Laws : Aditya Bhattacharjea
- Small Scale Industrialization under Globalization : M.H. Balasubramanya
- The Employment Problem in India and the problem of Missing Middle : Mazumdar and Sarkar
- Services in India’s Growth Process : Uma Kapila
- Infrastructure and Economic Development : Uma Kapila
- India’s External Sector : Uma Kapila