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• Course Type: Open course

• Course Category: Self-Financing

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Learning Objectives:

This course is designed to make the undergraduate students of other disciplines aware of the basic ideas and concepts in Economics.

Module 1: Basic Concepts

Economics – micro and macro – deduction and induction – basic economic problemsproduction possibility curve. Utility - total and marginal. Law of Demand – elasticity of demand - price elasticity - types. Law of supply. National income – meaning - components of

national income (12 Hrs)

Module 2: Public Economics

State vs Market - public revenue - public expenditure – tax and non-tax revenue – direct and indirect taxes – goods and service tax in India - budget – types - fiscal deficit - revenue deficit - public debt – trade cycle and its phases - fiscal and monetary policies as tools for combating inflation and deflation. (16 Hrs)

Module 3: Financial System and International Trade

Negotiable and non-negotiable instruments – cheques – drafts - bills of exchange – promissory notes-letter of credit - certificate of deposits – commercial papers - banking and non-banking institutions - commercial banks –– Core Banking, Internet Banking, Mobile

Banking, ATM/Debit & Credit Cards,IFSC,NEFT,RTGS–NPA in Indian banking sector RBI – functions - money and capital market – major financial instruments – shares, debentures and bonds – Insurance: meaning, nature and types - stock exchange – BSE, NSE – stock market indices – SEBI - mutual funds. Terms of trade - balance of trade - balance of payments - foreign exchange - exchange rate – spot – forward – fixed – floating - IMF, World Bank – WTO. (24 Hrs)

 Module 4: Indian Economic Development

An overview of Planning in India - Planning Commission –NITI Aayog- Finance Commission – Green revolution – changing pattern of India’s industrialisation - Liberalization - Privatization - Globalization (LPG) – Major features of population in India  and Kerala - Kerala model of development (20 Hrs)

Readings

1. R R Paul (2008), Monetary Economics, Kalyani Publishers, Lidhiyana

2. V K Bhalla (2008), Investment Management, S. Chand & Co., New Delhi.

4. Bo Sodersten & Reed Dominic, International Economics, palgrave mcmillan

5. Samuelson (2009), Economics, Tata McGraw Hill, New Delhi.

6. Gaurav Datt & Ashwani Mahajan, (recent edition) Datt & Sundharam Indian Economy, S.

Chand & Co., New Delhi ( recent edition)

7. Alwin Prakash, Kerala;’s Economic Development (2004),Sage Publications, New Delhi.

8. Meera Bai M (ed) (2008), Kerala Economy, Serials Publication, New Delhi.