Technical progress andproduction function. Cost curves. Determination of price and output under different market structures.Factor pricing under different marketconditions . Generalequilibrium theory .Welfare economics -Pareto optimality andnew welfare economics.Theory of secondbest. Arrow's Impossibility Theorem.

UNIT - II : Macroeocnomics

National income- concepts andmeasurement, social accounting,input- output accounting andgreen accounting .Consumption hypotheses -absolute, relative, life-cycleand permanent incomehypotheses. Marginal efficiencyof capital and investment.Multipliers and accelerator. Theories of demand for money - Classical, Keynesian, Friedman, Baumol andTobin. The components of moneysupply. RBI approachto money supply.High powered moneyand money multiplier.The IS-LM model. The relativeeffectiveness of monetaryand fiscal policies.Classical, Keynesian andPost- Keynesian theoriesof determination ofincome and output.Philips curve. Mundell- Flaming model.New classical approach to macro economics. Theories oftrade cycle.

UNIT - III : Public Economics and International Economics

Distinction betweenprivate and publicgoods, merit andnon-merit goods. Kindsof budget -public budgets, zero-basebudgeting, gender budgetingand budget deficits.Public expenditure -Wagner's law ofexpenditure, Wiseman - Peacockhypothesis. The effectsof public expenditureon economy. Publicrevenue - taxburden, incidence, impactand effects oftaxation. Elasticity andbuoyancy of taxes.VAT and itsimplication in Rajasthan.Problem of doubletaxation. Tax rate and Laffer curve. Public debt - sources, burden,effects and its management. Centre-Statefinancial relations and role of Finance Commission.
Theories ofinternational trade -comparative cost, opportunitycosts and
modern theories.Heckscher - Ohlin theory, Factor PriceEqualization Theorem .Rybczynski theorem .Stolper - Samuelsontheorem. Terms oftrade. Effects ofTariff and Quota.Balance of payments.WTO and itsimplication for developedand under developed countries.

UNIT - IV : Economic Growth and Development

Economic developmentand growth .Measurement of development- per capita income , inequality of income, HumanDevelopment Index, PQLI and otherindicators. Development and growth models- Lewis andRanis - Fei,Harrod- Domar, Solow, Kaldor andMeade. Environment and development trade-off and concept of sustainable development. Optimumuse of exhaustible and inexhaustibleresources. The concept of externalities. Measures for environmentalexternalities - Pigovian taxes andsubsidies. Bargaining solution andcollective action (Coase's Theorem).

UNIT - V : Indian Economy and Quantitative Techniques

Problems of Indianeconomy - poverty, unemployment, regional disparities, inequalitiesin distribution ofincome and wealth.Agricultural development andpolicies. Industrial developmentand policies. Liberalization, Globalization, Privatization and new economic policy and itsimpact. Role of MNCs in India.
Unconstrained andconstrained optimization. Theconcept of LinearProgramming, Game Theoryand Input-Output analysis.Probability - definition,theorems of additionand multiplication, conditionalprobability, Bay's Theorem.Binomial, Poisson and Normal distributions. Concept of sampling. Typesof errors. Hypothesis testing - use ofZ, t, x2 & F tests.