The Post Graduate course operates on the Credit Semester System (CSS) of Mahatma Gandhi University and is a two year full-time programme with two semesters in each year. The syllabus of the PG programme entails 16 Core and 4 Elective papers along with a short Dissertation cum Viva and a General Viva-voice.

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PROGRAMME SPECIFIC OUTCOME MA ECONOMICS

1.To give students knowledge in various fields of economics and an in-depth understanding of the theoretical and empirical constructs in the field of Economics.
2.To disseminate awareness and appreciation of the complexity of socioeconomic interdependence and change.
3.Application of economic theories and dilating problem-solving acumen. To teach applications of theories in analyzing current economic problems
4.Preparation for advanced studies leading to M. Phil. and PhD.
5.To equip students with a set of tools of econometrics, which would help them to solve real-world problems.
6.Develop the powers of inquiry, critical analysis, logical thinking, and your ability to apply theoretical knowledge to current issues of policy and practice in economics.
7.Encourage initiative, independent learning, awareness of analytical and theoretical approaches in the field of economics, exposure to recent research and state-of-the-art tools in applied for work in economics.
8.To train students for model building, test economic models using advanced methods and sophisticated economic tools, analysis interpretation and formulation of development policies.
9.To stimulate analytical and critical thinking on the different economic issues.
10.To develop the capabilities of original and independent work, promoting excellence in thought and in action.
11.To give the students a level of knowledge in economics to equip them to get employment in professional occupations or in other Research focused roles.

COURSE OUTCOMES OF COURSES

MA ECONOMICS
I SEMESTER
COURSE 1
Department ECONOMICS
Discipline ECONOMICS
Name of Faculty LIJI LAWRENCE
Programme Name MA ECONOMICS
Level of Study PG
Semester ONE
Course Name Microeconomics –I
Total Hours 90

Course Outcomes

CO 1 To equip the students themselves in a comprehensive manner with the various aspects of the traditional Microeconomic theory as well as the latest developments in this field
CO 2 To understand the applications of theories in analyzing current economic problems and to develop the ability to synthesize knowledge
CO 3 To provide a good understanding and base to the students in applying the concepts and methods of microeconomics in the practical field
CO 4 Helps students to equip with the knowledge and skill in effective decision making under uncertain market situations
CO 5 To acquires skills in allocating scarce resources among alternative uses
CO 6 To understand the emergence of different organizational structures of the firm

COURSE 2

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Dr. SUNIL ABRAHAM THOMAS
Programme Name MA ECONOMICS
Level of Study PG
Semester FIRST
Course Name MACROECONOMICS I
Total Hours 108

Course Outcomes

CO 1 Refreshing and recollecting Classical: Labour Market-Employment and Output-Say’s Law- Interest Rate-Quantity Theory of Money: Neutrality of Money and Classical Dichotomy.
CO 2 Understanding Keynesian Fixed Price Models: Keynesian Cross Model
CO 3 Introducing IS-LM analysis -Three Sector model
CO 4 Understanding Keynesian Flexible Price Model: AD-AS Framework-Policy Implications-Multiplier: T and G-Multiplier, Balanced Budget Multiplier- Built-in-Stabilizers-Ricardian Equivalence.
CO 5 Discussing and Understanding Labour Market: Classical versus Keynes -Keynes Effect and Real Balance Effect
CO 6 Detailing Inflation: Inflationary Gap-Demand-Pull and Cost-Push Inflation-Phillips Curve: Lipsey’s excess-demand model – The Samuelson-Solow modification of the Phillips curve- Tobin’s views on Phillips curve- Strategies to control inflation.
CO 7 Familiarising Neo-Keynesian Analysis (Disequilibrium Models): Walrasian Vs. Keynesian Models. Effective Demand and Notional Demand —Incompatibility of Walras Law and Neoclassical Synthesis of Keynes’s General Theory- Disequilibrium models of Robert Clower- Leijonhufvud’s, Barro-Grossman and Malinvaud.
CO 8 Introducing Monetarism and Discussing the historical development of Monetarism
CO 9 Discussing Demand for money analysis and supply of money analysis.
C10 Discussing Consumption functions and theories of Consumption function
C 11 Introducing Investment function and its theories

COURSE 3

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty NINO BABY, ANN GEORGE
Programme Name MA ECONOMICS
Level of Study PG
Semester I
Course Name DEVELOPMENT ECONOMICS
Total Hours 90 hours Shared Paper

Course Outcomes

CO 1 Assess the concepts of economic development, growth, development gap and sustainable development along with its measurements behind environmental issues and problems and policies designed to address them
CO 2 Evaluate different theories of underdevelopment
CO 3 Analytically distinguish different theories of development and growth
CO 4 Distinguish the different approaches to development
CO 5 Assess critical issues in development process

COURSE 4
Department ECONOMICS 
Discipline ECONOMICS
Name of Faculty Dr. ANN GEORGE AND RAJALAKSHMI R
Programme Name MA ECONOMICS
Level of Study PG
Semester FIRST
Course Name INDIAN ECONOMY-1

Total Hours 90; Paper shared with another faculty

Course Outcomes

CO 1 Evaluate the evolution of industrial growth; prospects and issues and the latest developments in industrial sector
CO 2 Comprehend evolution of service sector growth in India- prospects and issues
CO 3 Evaluate the infrastructure and social infrastructure of Indian economy
CO 4 Analyse the evolution of foreign trade in India
CO 5 Evaluate the recent status with regard to trade and assess issues

II SEMESTER
COURSE 1

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty LIJI LAWRENCE
Programme Name MA ECONOMICS
Level of Study PG
Semester TWO
Course Name Microeconomics –II
Total Hours 90

Course Outcomes

CO 1 Helps to gain a sound understanding of advanced microeconomic theory.
CO 2 To equip students to analyze contemporary economics issues and to create new models to explain the behavior of individuals, firms, and markets, and to evaluate economic policies.
CO 3 to acquaint the student with decision making in the context of market interdependence, complexity, uncertainty and informational asymmetry
CO 4 Helps students to equip with the knowledge and skill in effective decision making under uncertain market situations
CO 5 To give insights into developments in the areas of general equilibrium and welfare economics
CO 6 To enable the student to apply microeconomic principles in the areas of industrial organization, exchange, and welfare.

COURSE 2
Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Dr. SUNIL ABRAHAM THOMAS
Programme Name MA ECONOMICS
Level of Study PG
Semester SECOND
Course Name MACROECONOMICS II
Total Hours 108

Course Outcomes

CO 1 Understanding in detail the New Classical Macroeconomics – its features and policy implications for further applications
CO 2 Explaining the Real Business Cycle and its features and implications
CO 3 Detailing Supply side school and its core features and its applications
CO 4 Familiarising, understanding and applying New Keynesian principles
CO 5 Introducing the strands of Post Keynesian Economics and its core features
CO 6 Detailing and understanding the implications of Trade Cycles and its features, types and recent developments
CO 7 Introducing The Great Recession of 2008:

COURSE 3
Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Rajalakshmi R
Programme Name MA ECONOMICS
Level of Study PG
Semester Second
Course Name PUBLIC ECONOMICS
Total Hours 90

Course Outcomes

CO 1 Develop an understanding of the role of Government, market failures and Fiscal policies on stabilization.
CO 2 Briefly study the features of different types of public goods, externalities and Theories.
CO 3 Learn about the Public Choice Theory and voting Mechanisms.
CO 4 Understand and analyze the theories and practice pf taxation and public expenditures.
CO 5 Analyze the major types of budgets. Preparation of the budget, public Debt of the government, theories of debt.
CO 6 Acquaint with the characteristics and nature of the Indian fiscal federalism and the Centre-state financial relations.

COURSE 4

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty NINO BABY, ANN GEORGE
Programme Name MA ECONOMICS
Level of Study PG
Semester II
Course Name INDIAN ECONOMY II
Total Hours 90 hours; Shared Paper

Course Outcomes

CO 1 Evaluate demographic changes in India w.r.t. policies, labour market, migration, social securities and employment trends
CO 2 Distinguish various poverty measurement indices and its extent and assess the status of food security and nutrition , inequality and regional imbalances in India
CO 3 Assess the Fiscal situation in India, evolution and latest reforms
CO 4 Evaluate issues facing Indian economy like black money, demonetisation, global economic crisis
CO 5 Analyse the financial sector reforms in India

III SEMESTER
COURSE 1

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty LIJI LAWRENCE
Programme Name MA ECONOMICS
Level of Study PG
Semester THREE
Course Name Econometrics –I
Total Hours 90

Course Outcomes

CO 1 To learn how to estimate a general class of parametric models or semiparametric models
CO 2 To learn how to conduct testing and draw inference, given the data
CO 3 To understand the problems encountered in estimation and inference in the context of the single-equation linear
regression model
CO 4 To acquaint students with econometric techniques that are widely used in empirical work in Economics and other related disciplines
CO 5 To expose students to the art of performing estimation, analyzing and interpretation of the estimated econometric model
CO 6 To help in interpreting computer output for the estimation and testing of econometric relationships

COURSE 2

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Dr. SUNIL ABRAHAM THOMAS
Programme Name MA ECONOMICS
Level of Study PG
Semester THIRD
Course Name HETERODOX ECONOMICS
Total Hours 90 hours

Course Outcomes

CO 1 Assess Heterodox Economics and its core features
CO 2 Apply the Micro–Macro link in Heterodox Economics
CO 3 Evaluate the role of Institutions, Money, Trade and Economic Growth in Heterodox framework.
CO 4 Analytically distinguish alternative views, schools of thought and perspectives on economy
CO 5 Assess various concepts on value, production and distribution according to different heterodox thinkers

COURSE 3

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty NINO BABY
Programme Name MA ECONOMICS
Level of Study PG
Semester III
Course Name ENVIRONMENTAL ECONOMICS
Total Hours 90 hours

Course Outcomes

CO 1 Examines the economics behind environmental issues and problems and policies designed to address them
CO 2 Provides different perspectives on Environment and Development/Growth and the environmental issues
CO 3 Focuses on welfare economics of environmental problems and the preservation policies
CO 4 Provides an overview of economic valuation methods for environmental goods, justifies the allocation of limited resources between competing uses.
CO 5 Familiarizes the concept of Sustainable development, rules, indicators, models and the notion of Eco economy
CO 6 Analyze the various environmental accounting measures and the major global and national institutional governance mechanism

COURSE 4

Department ECONOMICS 
Discipline ECONOMICS
Name of Faculty Dr. ANN GEORGE AND RAJALAKSHMI.R
Programme Name MA ECONOMICS
Level of Study PG
Semester THIRD
Course Name KERALA ECONOMY

Total Hours 90; Paper shared with another faculty

Course Outcomes

CO 1 Giving a general introduction to Kerala economy, growth and development in an evolutionary framework
CO 2 Assess the different sectors of Kerala economy
CO 3 Evaluate the demographic prospects and issues in Kerala economy
CO 4 Assess social issues like poverty, inequality, gender and environment in Kerala
CO 5 Analyse the state of decentralisation in the state

COURSE 5

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Dr. SUNIL ABRAHAM THOMAS
Programme Name MA ECONOMICS
Level of Study PG
Semester THIRD
Course Name International Trade
Total Hours 90

Course Outcomes

CO 1 Refreshing and recollecting and discussing the major theories of International trade and its basic concepts
CO 2 Introducing and Understanding the neo classical theories of International Trade
CO 3 Introducing IS-LM analysis -Three Sector model
CO 4 Understanding the modern theories of International trade

IV SEMESTER
COURSE 1
Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Dr. SUNIL ABRAHAM THOMAS
Programme Name MA ECONOMICS
Level of Study PG
Semester FOURTH
Course Name International Finance
Total Hours 90

Course Outcomes

CO 1 Refreshing and recollecting and discussing Exchange rate, Exchange market, Exchange rate determination, Theories of exchange rate, important players. Exchange rate determination in India
CO 2 Introducing and Understanding Balance of Payment, its theories and implications and also the Balance of payment crisis, India faced in 1919
CO 3 Introducing and discussing open economy Macro models – Swan diagram- Mundell Fleming model – Impossibility Trinity
CO 4 Understanding the Resource Movements, Currency Crisis and International Financial Institutions

COURSE 2

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty LIJI LAWRENCE
Programme Name MA ECONOMICS
Level of Study PG
Semester FOUR
Course Name Econometrics –II
Total Hours 90

Course Outcomes

CO 1 To get an introduction to time series methods in econometrics covering aspects of the trend behavior, detrending mechanisms, and their properties, unit root theory, cointegrated system approaches, realized volatility and, model selection
CO 2 To equip the students with advanced theory of econometrics and relevant applications of the methods
CO 3 To acquaint the students with advanced techniques in time-series and panel-data analysis as well as implementation of theory through software applications to gear them towards execution of independent research projects
CO 4 To introduce students to basic modelling techniques in the analysis of cross-section, panel and time series economic data; to provide students with sufficient econometric training to read the applied literature in core journals which use these standard techniques

COURSE 3

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty NINO BABY
Programme Name MA ECONOMICS
Level of Study PG
Semester IV
Course Name LABOUR ECONOMICS
Total Hours 90 hours

Course Outcomes

CO 1 Allow students to see the interrelationship of the major forces at work shaping labor market behaviour and exposes them to its theoretical as well as empirical issues
CO 2 Emphasizes the power of microeconomic and macroeconomic reasoning to answer important economic questions
CO 3 Impart knowledge about dimensions of labour supply and analyze various aspects of labor supply behaviour and the impact of welfare on it
CO 4 Comprehend the determinants of demand for labour both in the short run and long run. Identify the impact of various global economic phenomena on labour demand
CO 5 Introduce the determination of wage in different market forms and analyzes how the compensation of workers can be structured to create incentives for greater productivity
CO 6 Analyze the goals, major activities, and overall effects of unions in the context of economic theory and the primary activities of the collective bargaining process
CO 7 Concerned with the causes of unemployment and how various government policies affec the level of unemployment.

COURSE 4

Department ECONOMICS
Discipline ECONOMICS
Name of Faculty Rajalakshmi R
Programme Name MA ECONOMICS
Level of Study PG
Semester Fourth
Course Name INDUSTRIAL ECONOMICS
Total Hours 90

Course Outcomes

CO 1 Develop a basic understanding of the meaning, definitions and scope of the subject matter of Industrial Economics and forms of Organization.
CO 2 Briefly study the features of different types of firm sizes, theories on the growth of the firm.
CO 3 Learn about the market structure, Product Differentiation, entry, exit, location, innovations, Theories.
CO 4 Comprehend the key pricing objectives and methods, SCP Approach.
CO 5 Analyse the major types of Integration, Mergers and Acquisitions in the industrial sector. Investment Decisions, Productivity Project Evaluation Methods.
CO 6 Acquaint with the characteristics and nature of the Indian Industrial Sector, Policies, Issues.

COURSE 5
Department ECONOMICS 
Discipline ECONOMICS
Name of Faculty Dr. ANN GEORGE
Programme Name MA ECONOMICS
Level of Study PG
Semester FOUR
Course Name AGRICULTURAL ECONOMICS

Total Hours 90; Paper shared with another faculty

Course Outcomes

CO 1 Assess agricultural sector in the process of economic development
CO 2 Evaluate the role of the agricultural sector in aggregated (macro) growth and development theories, including the recent endogenous growth theories is reviewed.
CO 3 Analyse relevant concepts and principles of Agricultural Economics.
CO 4 Assessing the problems of the farm management in order to make contributions to the prosperity of villages
CO 5 Evaluate Indian agriculture