MPhil programme in Applied Economics Provisional Syllabus

Aspects of Indias Economy

Objectives: The aim of this course is to familiarise the students with the distinctive aspects of the post independent growth performance of Indias economy not just at the aggregate but also at the disaggregated levels. Through the lectures the students are introduced to a range of analytical issues and debates concerning the growth performance of the economy. Special emphasis is placed on understanding the database and techniques of data analysis underlying the various issues. List of topics: 1. 2. Historical context to understanding post independent growth performance of Indias economy Post independent growth performance of the economy: Macroeconomic performance in terms of growth in GDP- Savings and Investment- Differences in Growth performance before and after economic liberalization-Effect of global financial crisis on overall growth performance- Regional aspects of growth- Growth performance at the sectoral level- Agriculture-Industry and Services. Database: National Accounts Statistics (CSO), Annual Survey of Industry (CSO), Database on Indias Private Corporate Sector (Prowess) 3. India and the global economy: Extent of integration of Indias economy with rest of the world- Trade in goods, services, capital and people. Database: UN Comtrade, Export-Import Data bank from Ministry of Commerce, Database on Foreign Direct Inv. 4. Technology innovation- Evolution of policies with respect to technological development- Policy outcomes in terms of domestic technological capability building at the aggregate level and in specific sectors- Contribution of technology to economic growth- Globalisation of technology and its implications for domestic technological capability building in India.

October 20, 20123 Database: R&D Statistics from Department of Science and Technology, Patents data from India Patent Office and USPTO 5. Aids to growth: Role of physical infrastructure: Electricity, Roads, Transport and telecommunication- Role of finance: Capital marketMoney and banking. Database: Energy statistics (CSO), Road Transport Year Book (Transport Research Wing), Telecommunications Statistics (TRAI), Handbook of Statistics on Securities Market (SEBI), Statistical Tables Relating to Banks in India (RBI) 6. Issues related to Human Development in India: Trends in poverty and inequality- Policy interventions to reduce it- Education and Health, Employment and unemployment- Migration- internal and external. Database: National Sample Survey Organization (NSSO) Rounds, Census 7. Fiscal issues: Trends in income and expenditure- Fiscal deficit- Growth of subsidies- Growth in external debt- Centre-State Financial issuesFiscal decentralisation Database: Union budget, Indian Public Finance Statistics (Ministry of Finance), State Finances-: Study of budgets (RBI) 8. A selection of current debates: Environment and climate changeWomens empowerment- Decentralisation in governance-Food security including issues related to GMO foods- Impact of changes in international governance rules on Indias domestic economy. Key readings: Books

Balakrishnan, Pulare (2010) Economic Growth in India: History and Prospect, OUP India Basu, Kaushik and Annemie Maertens (2010), The Concise Oxford Companion to Economics in India, Delhi: Oxford University Press. Dreze, Jean and Amarty Sen (2013) An uncertain glory, India and its contradictions. London: Allen Lane. Reddy, Y. V. (2002), Lectures on Economic and Financial Sector Reforms in India, Delhi: Oxford University Press.

October 20, 20123

Journal Articles Basu, Kaushik (2008), The Enigma of Indias Arrival: A Review of Arvind Virmanis Propelling India: From Socialist stagnation to global power, Journal of Economic Literature, 46:(2), , 396406 Kotwal, Ashok, Bharat Ramaswami, and Wilima Wadhwa (2011). Economic Liberalization and Indian Economic Growth: What's the Evidence? Journal of Economic Literature, 49(4): 1152-99.