B.A. ECONOMICS Course Full Detail 2024

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B.A. Economics: Understanding the Degree and Career Opportunities

As the global economy continues to change and become increasingly complex, more and more individuals are turning to the discipline of economics to make sense of it all. B.A. Economics is a popular degree program that offers students the opportunity to develop a solid understanding of the concepts of economics and the skills needed to analyze and solve economic problems.

History of Economics

The study of economics can be traced back to ancient civilizations such as Greece, Rome, and China. However, the modern science of economics emerged in the late 18th century with the works of Adam Smith, David Ricardo, and Thomas Malthus. Since then, the subject has continued to evolve and expand, with new ideas and approaches being developed to assist economists better understand and address real-world economic problems.

Core Courses in B.A. Economics

The core courses in B.A. Economics are meant to equip students with a good foundation in the principles and methodology of economics. These courses often contain microeconomics, macroeconomics, econometrics, and development economics.

Microeconomics is the study of how individuals and firms make decisions concerning the distribution of scarce resources. Macroeconomics, on the other hand, is the study of the economy as a whole, including themes such as inflation, unemployment, and economic growth. Econometrics involves the use of statistical methods to examine economic data, while development economics focuses on the economic difficulties affecting developing countries.

Specializations in B.A. Economics

In addition to the standard courses, many B.A. Economics programs provide students the ability to specialize in a particular area of economics. Some common specializations include international economics, financial economics, public economics, and agricultural economics.

International economics focuses on the economic interactions between countries, including commerce, finance, and investment. Financial economics, on the other hand, concentrates on the behavior of financial markets and institutions. Public economics deals with issues relating to government expenditure and taxation, while agricultural economics focuses on the economic issues facing the agricultural business.

Career Opportunities with B.A. Economics

One of the main advantages of earning a degree in economics is the wide range of professional prospects it can lead to. Graduates with a B.A. in Economics can find employment in both the public and commercial sectors, as well as in academia.

Graduates in economics can find employment in the public sector with organizations like the Federal Reserve, the Department of Treasury, and the Bureau of Labor Statistics. They may work for global corporations, financial institutions, and consulting firms in the private sector. A B.A. in Economics can be used as a stepping stone to graduate work in economics for people who want to work in academia.

Pursuing an economics degree has a number of benefits. Graduates in economics have the opportunity to make a good wage, first and foremost. The United States Bureau of Labor Statistics reports that in May 2020, economists made an average yearly salary of $105,020.

A degree in economics has a high potential for compensation and is also very adaptable. The program's students gain analytical and problem-solving abilities that can be used in a variety of industries, such as public policy, consulting, and finance.

Finally, earning a degree in economics can aid students in gaining a thorough awareness of the factors that influence our global environment. Understanding how markets function, how individuals and organizations make decisions, and how government actions can affect economic results all fall under the umbrella of economics.

The Drawbacks of a B.A. in Economics

Even if earning a degree in economics has many benefits, there are a few potential drawbacks to take into account. The demanding curriculum is one of the major obstacles to studying economics. Numerous quantitative and analytical abilities, such as mathematics, statistics, and econometrics, are expected of students.

Another potential downside is that work options for economics graduates can be limited without further schooling. While a B.A. in Economics can open doors to a wide range of occupations, many high-level positions in economics require higher degrees such as a master's or Ph.D.

With a wide range of job prospects available in both the public and commercial sectors, a B.A. in Economics can lead to a highly rewarding and satisfying career. However, students should be prepared for the hard curriculum and restricted employment chances without further study.

B.A. Economics FAQs

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B.A. Economics is a Bachelor Level course in Economics. This course contains areas such as definition, production, market, monopoly, scope, concepts, nature, utility and other minor or major aspects of Economics. After completing the course candidate go for various commerce and banking related jobs. Those who want to join government services after the course Indian Economic Service and Reserve Bank of India are excellent options. Social science that analyzes the distribution, consumption, production and of goods and services.

Various Types of Jobs after B.A. Economics

Various Areas for Jobs after B.A. Economics

BACHELOR OF ARTS IN ECONOMICS
- Duration
  
  3 Years
  
  Mode
  
  Year
- Type
  
  Degree
  
  Eligibility
  
  12th
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B.A. ECONOMICS: Subjects of Study (Syllabus)

Paper Code	Subjects of Study
1	Evolution and definition of Economics, Nature & Scope of Economics. Methods of Economics Analysis, Inductive & Deductive Logic, Merit and Demerits.
2	Basic Concepts: Utility Demand, Supply, Commodity and their types, Value and Price, Market, Administered and Non- Administered Prices. Demand Supply equilibrium.
3	Utility: Cardinal (Marshal) and Ordinal Utility Approaches to Demand. Indifference Curve: Consumer equilibrium (Hichs & Slutsky) Price, Income and Substitution effects. Derivation of Demand Curve.
4	Elasticity of Demand, Price, Income and Cross elasticity, Consumer Surplus and its measurement.
5	Production: Factors of Production and their Characteristics; Laws of Production Returns to Factor and Return to Scale, Law of Variable Proportion. Isoquants Nature and their Characteristics, Producers equilibrium.
6	Economies of Scale, Deferent Concepts of Costs Explicit & Implicit, Accounting, Opportunity, Total fixed and Variable Costs, Marginal & Average Costs & its Relationship. Concept of Revenue Total, Marginal & Average Revenue and Break Even Point g.
7	Market: Concept and Classification, Perfect Competition Characteristics, Price and Output Determination for Firm and Industry, Market Equilibrium.
8	Monopoly: Characteristics and Price- Output Determination, Price Discrimination. Monopolistic Competition: Characteristics Price- Output Determination.
9	Factor Pricing: Theory of Marginal Productivity of Distribution. Concept of Adding up Theorem. Theories of Wages and Rent: Classical and Modern.
10	Interest: Concept, Classical and Keynesian Theories of Interest. Profit: Net and Gross. Theories of Profit.
11	Structure of Indian Economy - Primary, Secondary & Tertiary Sectors. Basic features: Natural Resources, Land, Water, Forest and Mineral Resources.
12	Demographic Features (As per Census 2001): Population, Size, Sex, Rural- Urban Classification, Population Distribution, Recent National Population Policy.
13	Agriculture: Nature and Importance. Land Use Pattern. Trends in agriculture Production and Productivity, Cropping Pattern.
14	Land Reforms: Green Revolution, Rural Credit, Agricultural Marketing, Mechanization.
15	Small Scale and Cottage Industries- Meaning, Importance and Problems. Major Industries in India: Iron and Steel, Textile, Sugar, Cement, Automobiles.
16	Infrastructure of Indian Economy: Irrigation, Power, Transport, Communication, Banking and Insurance.
17	Human Infrastructure of Indian Economy- Health, Nutrition, Education, Knowledge and Skills, Housing and Sanitation.
18	Planning in India- Objectives, Types of Planning, Strategy, Achievement & Failures, Analysis of Current Five Year Plan.
19	Basic Features of M.P. Economy- Land, land Utilization Pattern, Natural Resources- Forest, Water & Mineral. Agro-Climatic Zones. Demographic Features of M.P.
20	Agricultural Situation in M.P. Economy: Cropping Pattern, Production and Productivity of Main Corps, Green Revolution, Sources of Credit in Agriculture, Irrigation. Main Courses of backwardness Agriculture in M.P.
21	Macro Variables- Stock and Flow, Circular Flow of income in closed and Open Economy. Concept of National Income- GDP, GNP. Measurement of National Income and Social Accounting in India. National Income and Economic Welfare.
22	Classical Theory of Employment- Says Law of Market, Keynesian Theory of Employment- Aggregate Demand and Supply Functions, Effective Demand.
23	Consumption Function, Factor Affecting Consumption, Average and Marginal propensities to consume, Simple Investment and Govt. Expenditure Multiplier and Leakages of Multiplier.
24	Saving Function & Sources of Saving Mobilization: Investment Function and (MEC) Marginal Efficiency of Capital, Factors Affecting, and Capital Formation. Concept of Accelerator.
25	Theories of Interest- Classical (Abstinence & Waiting) Neo Classical Theory, Keynesian Theory of Liquidity Preference, Liquidity Trap.
26	Public Finance and Public Economics: Meaning, Nature and Scope. Meaning and Nature of Public, Private and Merits Goods, Market and State- Role and Functions. Principle of Maximum Social Advantage.
27	Sources of Revenue- Taxes, Loans, Grants and Aid- Meaning and Types, Canons of Taxation.
28	Principles of Public Expenditure, Principles of Public Debt and Methods of Redaction; Wagener’s Law- Increasing Activities. Effects of Public Expenditure on Production and Distribution.
29	Public Finance in India: Sources of Revenue of Central and State Government, Concept and Types of Budget, Fiscal Deficit, Deficit Financing and Deficit Budget.
30	Constitution and Function of Finance Commission, Recommendation of Latest Finance Commission, Latest Budget of Central and M.P. Government
31	Money- Meaning, Functions and Classification, Stock of Money and its Measures- M1, M2, M3, M4, Quantity Theory of Money- Cash Transaction and Cash Balance Approaches.
32	Inflation, Deflation and Recession- Definition, Causes and Effects on different Segments of population and sectors of the Economy. Types- Demand Pull and Cost Push Inflation. Measure to Control Inflation, Deflation and Recession.
33	Bank- Meaning and Types. Central Bank and its Function with Reference to R.B.I. Credit Control- Qualitative and Quantitative Methods. Objectives and Limitations of Monetary Policy.
34	Functions of Commercial Bank- Meaning and Methods of Credit Creation, Recent Reforms in Banking Sectors and Cheap Money Policy.
35	Money Market and its Instrument, Defects of Money Market in India. Role of Private Banking in India.
36	Development & Economic Growth Economic growth and Development- Meaning, Factor’s of Development and Growth-Economic Capital, Physical and Human, Research and Development & Technology. Basic characteristics of Developing countries.
37	Human Resource and Development Role & Importance of Human Resource Development. Factor’s of HRD, Human Development Index, Concept of stable population and Transition towards it.
38	Theories of Development and Growth. Theories of Development- Classical Schumpeter, Rostow, Gunnar Mrydel, Harshman.
39	Growth Models Growth models- Harrod Domer, Mahalonabis, and Balanced Vs Unbalanced Growth Concepts of Regional Development.
40	Basic Infrastructure as pre-condition of Growth: Power, Transport, Communication Banking and governance.
41	Basic Concepts and Linear Algebra Concept of variable, Parameter, constant and variable functional equations, Identities and inequalities, Meaning and solution of an equation. System of simultaneous linear equation and their solution.
42	Descriptive Statistics Basic concepts, Population, Sample, Parameter, Frequency distribution, Cumulative frequency graphical representation of Data, Techniques of data collection, Sampling vs. Population, Primary and secondary data.
43	Measures of Central Tendencies Measures of central tendencies- Mean, Median, Mode, Geometric Mean and Harmonic Mean, Measures of dispersion: Range, Mean deviation, Standard deviation, Co-efficient of variation, Quartile Deviation.
44	Correlation Karl Prearson’s Co-efficient of Correlation, and Spearman’s Rank Correlation Association of Attributes.
45	Regression analysis, fitting a Bi-variate regression equation, Interpretation of Slope, Co-efficient of regression. Use and Application of Regression.
46	Sectoral Development-Agriculture Role and Importance of Agriculture in Indian Economy. Factors of Agricultural Development, Green Revolution. Poverty and Unemployment in India.
47	Sectoral Development- Industry and Import Export Role and Importance of Industrialization, Organized- Large and Small & Internal Domestic Industries. Import Substitution and export-Let Growth Strategy.
48	Planning vs. Market Dreven Economic Development. Economic Reforms in India, Privatization, Liberalization and Globalization.
49	Environment & Development Environmental implication of Development renewable and non renewable resources. Limits to growth and sustainable development.
50	Environmental Degradation and Development Evaluation of Environmental damages (Land, Water, Air & Forest) & its impact on quality of life and economy.
51	Time Series, Time Series analysis- Concept and components Additive and Multiplicative, Algorithm of Decomposition of Time Series, Methods of moving Averages.
52	Index Numbers- Concept, Laspeyer’s, Paasche’s and Fisher’s Index numbers, Problems in the construction of Index numbers and their limitations.
53	Probabilities: Concept, Rules of Probability (Addition and Multiplication) Conditional Probability, Binomial- Distribution.
54	Concept and Definition of Research Selection of Research Problems, Problems in Research in Social Sciences Types of Research.
55	Hypothesis- Meaning & Types, Research Report Writing, Sources of Primary and Secondary Data, Development of Questionnaire and schedule. Characteristics of Good Questionnaire.