Introduction
What is Economics?
Meaning, scope and importance of statistics in Economics
Collection, Organisation and Presentation of data
Collection of data - sources of data - primary and secondary; how basic data is collected; methods of
collecting data; some important sources of secondary data: Census of India and National Sample
Survey Organisation.
Organisation of Data: Meaning and types of variables; Frequency Distribution.
Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric
forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and
(iii) Arithmetic line graphs (time series graph).
Statistical Tools and Interpretation
(For all the numerical problems and solutions, the appropriate economic interpretation may be
attempted. This means, the students need to solve the problems and provide interpretation for the
results derived.)
Measures of Central Tendency- mean (simple and weighted), median and mode
Measures of Dispersion - absolute dispersion (range, quartile deviation, mean deviation and standard
deviation); relative dispersion (co-efficient of quartile-deviation, co-efficient of mean deviation, coefficient
of variation); Lorenz Curve: Meaning and its application.
Correlation - meaning, scatter diagram; Measures of correlation - Karl Pearson's method (two variables
ungrouped data) Spearman's rank correlation.
Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index and
index of industrial production, uses of index numbers; Inflation and index numbers.
Some Mathematical tools used in Economics: Equation of a line, slope of a line, slope of a curve.
Development Experience (1947-90) and Economic Reforms since 1991
A brief introduction of the state of Indian economy on the eve of independence.
Common goals of Five Year Plans.
Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy,
etc.), industry (industrial licensing, etc.) and foreign trade.
Economic Reforms since 1991:
Need and main features - liberalisation, globalisation and privatisation;
An appraisal of LPG policies
Current challenges facing Indian Economy:
Poverty- absolute and relative; Main programmes for poverty alleviation: A critical assessment;
Rural development: Key issues - credit and marketing - role of cooperatives; agricultural diversification;
alternative farming - organic farming
Human Capital Formation: How people become resource; Role of human capital in economic
development; Growth of Education Sector in India
Employment: Formal and informal, growth and other issues: Problems and policies.
Inflation: Problems and Policies
Infrastructure: Meaning and Types: Case Studies: Energy and Health: Problems and Policies- A critical
assessment;
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and
Environment, including global warming.
Development Experience of India:
A comparison with neighbours
India and Pakistan
India and China
Issues: growth, population, sectoral development and other developmental indicators.
The students may be encouraged to develop projects, which have primary data, secondary data or both. Case studies of a few organisations / outlets may also be encouraged. Under this the students will do one project each from Part A and Part B.
Some of the examples of the projects are as follows