A Three - year B.A. (Honours) Course under 1+1+1 Regulations (2009) of University of Calcutta

Course Outcomes - Economics Honours

This is a Three-year Honours Degree Course. There are 8 papers of 100 marks each and each paper has two groups carrying 50 marks each. Students undertaking this course obtain an understanding of the fundamental concepts and their practical applications. The learning outcomes can be identified as comprehension of the following :-

Paper IA Microeconomic Principles
CO1: The basic economic problems and solutions.
CO2: The role of market and the government.
CO3: Understanding the concept of 'welfare economics'.
CO4: Rationale behind market failures.

Paper IB Macroeconomic Principles
CO1: The nature and scope of macroeconomics.
CO2: Determination of aggregate output and income.
CO3: The importance of money and monetary institutions.
CO4: The relations between production and growth.
CO5: Major Macroeconomic issues: inflation, unemployment, consumption, investment- concepts and analysis.

Paper IIA Statistics for Economics
CO1: Classification and presentation of data, computation of central tendency, dispersion, skewness and kurtosis.
CO2: The concept of random variable and probability distributions.
CO3: Analysis of bivariate data, Understanding different measures for population statistics.

Paper IIB Mathematics for Economics
CO1: The concepts of functions and graphs
CO2: Derivatives and it's applications.
CO3: Optimization with equality and inequality constraints.
CO4: Difference and differential equations- Theory and applications.
CO5: Game Theory- concepts of different kinds of games compatible with Microeconomic theory, solving games applying linear algebra and linear programming

Paper IIIA Microeconomics
CO1: The theory of consumers Behaviour.
CO2: Understanding and analysing consumer's behaviour in the light of Marshallian Cardinalistic approach, Indifference curve analysis and the theory of Revealed Preference.
CO3: The Theory of production, Cost, and analysis of producer's behaviour.
CO4: The theory of markets, the Market Morphology- From Perfect Competition to Collusive and Non-Collusive Duopoly.
CO5: The theory of Factor Pricing, Rent and Profit.
CO6: The theory of Welfare.

Paper IIIB Macroeconomics
CO1: Nature of the economy in the short-run and long-run.
CO2: Exchange rate and its relation with foreign trade.
CO3: The theories of consumption and investment.
CO4: The theories on demand for money- Keynesian REM, Tobin's PBA, Tobin and Baumol's Inventory Approach.
CO4: The Solow growth Model.

Paper IVA The Theory and Issues of Development Economics
CO1: The and factors of economic development.
CO2: The process of development
CO3: The Demographic Theory- relation between population growth and development.
CO4: Strategies and nature of development in a labour-surplus economy.
CO5: Inequality and poverty measures
CO6: Relation between environment and development

Paper IVB Indian Economy since Independence
CO1: The features of Indian economy.
CO2: The nature and role of Indian planning.
CO3: Agricultural and industrial development in terms of the policies.
CO4: Trends and patterns of employment and wages.
CO5: The movement of prices in India.

Paper VA International Economics
CO1: The basic tools and rationale of international trade
CO2: The standard trade models- Classical and neo classical.
CO3: Trade policies
CO4: Open economy macroeconomics.
CO5: Balance of Payments.
CO6: The theory of exchange rates.

Paper VIB Public Finance
CO1: Scope and significance of public economics.
CO2: Different forms and functions of government, government budget and policy
CO3: The role and importance of federal finance
CO4: Concept of public goods and public sector
CO5: Classification of taxes, tax structure, distribution and stabilization.

Paper VIA Comparative Development Experience
CO1: The Genesis of capitalism
CO2: Industrial Revolution.
CO3: Evolution of new international economic order
CO4: The role of the government

Paper VIB Contemporary Economic Issues: India and West Bengal
CO1: Economic reforms since 1991
CO2: Evaluation of the post- reform performances
CO3: Agriculture, poverty and social security
CO4: The growth and development of West Bengal economy

Paper VIIA Statistics and Basic Econometrics
CO1: Joint probability distribution
CO2: Sampling theory and solution techniques
CO3: Theory of classical statistical inference
CO4: Theories and solutions of basic econometrics and time series data

Paper VIIB Applied Economics (Students choose between Group A and Group B)
Group A: Application of Economics to Managerial Issues
CO1: Nature and scope of managerial economics
CO2: Theories of Demand cost and profit
CO3: Pricing policies and practices.
CO4: Organisational and incentive design
CO5: Methods of capital budgeting
CO6: Cost of capital computation.
CO7: Inventory management and corporate governance

Group B: Mathematical Economics
CO1: Solving the problems on the theory of consumers, comparative statics, intertemporal choice, uncertainty, firms, games.
CO2: Applications of differential and difference equations.

Paper VIIIA Indian Economic History

CO1: Land tenure system, policy of discriminating protection, managing agency system,
de-industrialisation, the theory of Drain under British rule and their impact on Indian economy
CO2: Understand the different aspects of development during British rule like irrigation, railways and currency.

Paper VIIIB Dissertation Term Paper

CO1: To write a research paper within 5000 words based on any topic from the syllabus taught. Students get a good idea about how to explore data, read and analyse scholarly writings, reference material etc. The dissertation is written at the end of the program and offers the students the opportunity to delve more deeply into and synthesise knowledge acquired by them. This also widens the scope for students to showcase their skills and capacity to conduct research and present the results through an original piece of content that will provide value for the academic and scientific community at large. At personal level, students learn how to be methodical, inquisitive, manage relevant data, keep an open mind, edit matter and adhere to the time frame.


Program Outcomes - Economics Honours

PO1 Problem Analysis: Identifying, formulating and analysing complex economic problems to substantiate and conclude by applying the knowledge of statistics

PO2 Synthesis of Mathematics and Economics: Application of mathematics for understanding the different concepts of economics.

PO3 Research Orientation: Understanding research methodology for formulation, interpretation of data and analysis of specific economic problems.

PO4 Usage of Tools: Applying appropriate techniques for economic models with an understanding of the limitations.

PO5 Environment and Sustainability: Understanding the impact of economic dynamics on environment and to determine the need for sustainable development, to evaluate the sustainable performance level of an economy.

PO6 Effective Communication: To communicate effectively with the society at large with better comprehension and to make effective presentations

PO7 Individual and Team work: To function efficiently as an individual and as a team to share and shoulder responsibilities.

PO8 Critical Thinking: To analyse the economic situations critically and provide suggestions, checking the validity and accuracy using effective tools

PO9 Self-directed and Life-long Learning: Recognise the need for and engage in independent and life-long learning

PO10 Project Management and Finance: To demonstrate knowledge and to understand the economic and management principles, mange projects in multidisciplinary environment.


Program Specific Outcomes - Economic Honours

PSO1: Determination of economic variables, analysis of the trends of major variables in Indian and West Bengal economy
PSO2: Analysing the macroeconomic policies for development
PSO3: Application of statistical tools to interpret data and understanding the nature of the economies
PSO4: To draw a relation between international trade, economic development and environmental quality
PSO5: Analysing the challenges and opportunities of social sectors in West Bengal
PSO6: Understanding public economics, analysing the role of the government in an economy
PSO7: Analysing consumer's behaviour, determination of production costs to understand the role of the market
PSO8: Application of mathematics, statistics and advanced econometrics for modelling economic problems.

Economics General (Elective) Subject Course Outcomes

Paper 1A Microeconomics I

Unit 1: From this unit, the students acquire knowledge about the subject matter of economics and the various economic agents, along with the behavior of market, through demand supply interaction.
Unit 2: In this unit, the students get an idea on the concept of demand and elasticity of demand with mathematical foundation. Along with it, it also given idea about the basics of cardinal and ordinal theory of demand determination.
Unit 3: In this unit, the students get an idea about theory of production, production technology and function, concept of revenue and the theory of cost of production.

Paper 1B Macroeconomics I
Unit 1: In this unit, the students acquire knowledge on the basic concepts of national income accounting which includes GDP, GNP, NDP, NNP, along with the different methods of its measurement.
Unit 2: In this unit, the students acquire knowledge on the basic idea of money and banking like measures of money supply, quantity theory of money, role of Central and commercial bank along with the credit creation process.
Unit 3: This unit conveys the basic knowledge about consumption expenditure and investment expenditure including that of the Keynesian Consumption Function.
Unit 4: This unit throws light on budget and its basic components, principles of taxation and on the theory of public debt.

Paper 2A- Microeconomics II
Unit 1- Theory of Markets
CO1 In this unit students learn about different forms of market and their functions
Unit 2- Theory of Distribution
CO1 In this unit students learn about the theories of factor price determination such as rent, wage, interest and profit

Paper 2B- Macroeconomics II
Unit 1- Theories of Income and Employment
CO1 In this unit students learn the Classical and Keynesian theories of income and output determination
Unit 2- Prices and Inflation
CO1 In this unit students learn the concept of price indices, concept of inflation, its types, causes and effects
Unit 3- External Sector
CO1 In this unit students learn about internal trade , basis of trade and theories related to cost advantage in trade

Paper 3A Indian Economy I
CO1 Unit 1: This unit throws light on the structure of Indian economy, role of per -capita income and the features and causes of underdevelopment of Indian economy.
CO2 Unit 2: This unit talks about the trends of national income of India along with its estimation and distribution.
CO3 Unit 3: This unit gives an idea about the trends and pattern of population growth like demographic rates, along with the nature of population problems in India and the government policies related to it.
CO4 Unit 4: This unit gives knowledge on the concept of dualism, poverty line and poverty eradication programmes in India.
CO5 Unit 5: The subject matter of this unit includes Indian Planning and planning process, along with the objective, achievements and failures of India's Five Year plans.

Paper 3B Indian Economy II
CO1 Unit 1: This unit throws light on the characteristics of Indian agriculture, land reforms, Green Revolution and its effects and the effects of economic reforms on agriculture.
CO2 Unit 2: This unit gives knowledge on the structure of Indian industry, problems and strategies of industrial development along with industrial policy, labour and finance.
CO3 Unit 3: This unit gives knowledge on financial system in India, role of commercial bank and credit policy of RBI.
CO4 Unit 4: This unit gives an overview on the different concept associated with the central and state budgets, sources of revenue and the role of Finance Commission of India.
CO5 Unit 5: This unit gives an idea about the importance of foreign trade, its trends and direction of trade in post liberalisation period.

Paper 4A- Development Economics 1
CO1 Unit 1- Economic growth and economic development
In this unit students learn about the distinction between economic growth and development, growth indicators and the concept of HDI
CO2 Unit 2- Development planning and its necessity
In this unit students learn balanced vs. unbalanced growth, industry and agriculture and role of technology
CO3 Unit 3- Population and Economic Development
In this unit students study about the two way relation, problems and incentive of saving and investment
CO4 Unit 4- Foreign Investment
In this unit students study the role of foreign investment and international financial institutions in economic growth
CO5 Unit 5- Gender related issues
In this unit students study the concepts of gender inequality

Paper 4B

Group A - International Economics
CO1 Unit 1- Trade
In this unit students learn the concepts of trade and its theories
CO2 Unit 2- Balance of Payments
In this unit students learn about balance of trade and payments and foreign exchange agents

Group B- Statistics
CO1 Unit 1- Classification of Data
In this unit students learn the different types of data and their methods of presentation
CO2 Unit 2- Central Tendency
In this unit student learn the different measures of central tendency and solve related numerical problems
CO3 Unit 3- Dispersion
In this unit student learn the different measures of dispersion and solve related numerical problems