Course Title: Economics & Public Policy
Course Code:
Credit Units: 04
Level:
PG
L T
S
SW/
FW
3 1
-
-
P
-
TOTAL
CREDIT
UNITS
4
Course Objectives: This paper intends to study Economics in its larger systematic environment, to
identify key interacting factors in its apparatus and actors, and to develop understanding of measures
that strengthen its functional utility of Economics. It intends an easy comparison of a unified and
justified and systematic treatment of Costs, revenue and profit. It also covers the impact of Market
Failures and Remedies and Public Choice and Political Economy.
Pre-requisites: Open to all academic and professional disciplines.
Course Contents/Syllabus:
Weightage (%)
Module I: Micro Economics
Descriptors/Topics
 Consumer Behavior, Utility and Equilibrium
 Production: Costs, revenue and profit maximization
 Demand, Supply, Perfect Competition and Welfare.
Module II : Efficiency, Perfect Competition and Market
Descriptors/Topics
 Pareto Condition and effects of Government Intervention
 Market Failure , causes and consequences :Externality, Monopoly, Public
Goods, Information failure
 Objectives of Public Policy : Efficiency, Equity, Poverty reduction and others
Module III : Market Failures and Remedies
Descriptors/Topics
 Private Sector Remedies: franchise auctioning, property rights, anti-trust laws
etc.
 Public Sector Remedies: regulation, fiscal measures, and others.
Module IV : Public Choice and Political Economy
Descriptors/Topics
 Voting and related issues
 Government failure : regulatory capture, rent seeking, collective action
 Cases in Public Policy
25
25
25
25
Student Learning Outcomes: On successful completion of the course, the student will be able to:
 Understand of Consumer Behavior, Utility and Equilibrium and Costs, revenue and profit
 Understand how economics functions and help maintaining consistency in the Public Policy field.
 Understand the roles of Market Failures and Remedies in both private and public sector.
 Develop an understanding of roles of economics in the planning process public policy.
Pedagogy for Course Delivery: Course is designed to be taught through the lecture mode. However,
during group discussions and seminar presentations on various themes related to the course may be
organized. Class room interaction will be an integral part of the learning experience.
Assessment/ Examination Scheme:
Lab/ Practical/
Theory L/T (%)
Studio (%)
100
Total
NA
100
Theory Assessment (L&T):
End Term
Examination
Continuous Assessment/Internal Assessment
Components (Drop down)
CT
HA
PPT
ATT
Weightage (%)
15
05
05
05
70%
Text & References:
 Atkinson, A.B. and J.E. Siglitz (1980): Lectures on Public Economics, Tata McGraw Hill, New York.
 Auerbach, A.J. and M. Feldstern (eds.) (1985): Handbook of Public Economics. Vol.1, North
Holland, Amsterdam.
 Barman, K. (1986), Public Debt Management in India, Uppal Publishing House, New Delhi.
 Barman, K. (1986), Public Debt Management in India, Uppal Publishing House, New Delhi.
 Bhargava, P.K. (1984): Some Aspects of Indian Public Finances, Uppal Publishing House, New
Delhi
 Bhargava, P.K. (1991), India's Fiscal Crisis. Ashish Publishing House, New Delhi. 7 Bhatia, H.L.
(2000): Public Finance, Vikas Publishing House Pvt. Ltd. Delhi.
 Chellaih, Raja J.(eds,)(1997), Towards Sustainable Growth, Oxford University Press, New Delhi.
 Datt, R. (Ed.)( 2001), Second Generation Economic Reforms in India, Deep & Deep Publications,
New Delhi.