M.A. ECONOMICS (SEMESTER-WISE) - Dr BR Ambedkar University

DR. BHIM RAO AMBEDKAR UNIVERSITY, AGRA .M.A. ECONOMICSSEMESTER WISE - DETAILED SYLLABUSFOURTH SEMESTERPAPER – 402PUBLIC ECONOMICSUNIT 1: Rationale for Public PolicyRole of Government in organized society; Changing perspective — government in a mixed economy:public and private sector, cooperation or competition; Government as an agent for economic planningand development; Government as a tool for operationalizing the planning process; private goods, publicgoods, and merit goods; Market failure — imperfections, decreasing costs, externalities, public goods;Uncertainty and non-existence of futures markets. Allocation of resources — provision of public goods;Voluntary exchange models; Impossibility of decentralized provision of public goods (contributions ofSamuelson and Musgrave); Demand revealing schemes for public goods Liquidity preference; Social goals;Poverty alleviation; Provision of infrastructural facilities, removing distributional inequalities and regionalimbalances.UNIT 2: Public ExpenditureWagner’s law of increasing state activities; Wiesman- Peacock hypothesis; Pure theory of publicexpenditure; Structure and growth of public expenditure; Criteria for public investment; Reforms inexpenditure budgeting; Programme budgeting and zero base budgeting.UNIT 3: TaxationPage 62