Hindi - Himachal Pradesh

2. Full employment and says law, under-employment equilibrium, Keynes theory ofemployment and income determination, critique of Keynesian theory.3. Functions of money, measurement of price level changes, money and real balances,monetary standards, Quantity Theory of Money. The money multiplier. Theories ofdetermination of interest rate. Theories of inflation and methods to control inflation. Goalsand instruments of monetary management in closed and open economies.4. Role of public finance in the developing economies. Fiscal economics: an overview ofallocation, distribution and stabilization functions. Market failure, public goods andexternalities. Principles of taxation, theories and measures of tax incidence, burden ofpublic debt, management of public debt. Pure theory of public expenditure. Types ofbudget deficit.5. International trade: tariffs, forms of protection, the rate of exchange, balance of payments.Aid versus trade controversy. WTO regime: structure, rationale, objectives, strategies,policies and global pattern of MNC’s activities. Critical assessment of the stabilizationprogrammes of the international institutions i.e. IMF, IBRD and the World Bank.International trade and environmental issues.6. Economics growth, development and sustainable economy. Welfare indicators andmeasures of growth. Human development indices, the Basic Needs Approach. Povertydevelopmentand environment nexus. Structural change and economic development. Tradeoff between equity and growth.7. Planning and market mechanism. Relation between state planning and growth, changingroles of market and plans in growth and economic policy. State intervention andprivatization debate. Decentralized planning and peoples participation.PAPER-II1. Indian economy in the post independent era: pattern, trend and factors determiningnational and per capita income in India, absolute and relative poverty in India. Factorsdetermining employment in India. Relation between income-poverty and employment.Poverty eradication and social welfare programmes and their performance. Impact ofeconomic reforms on poverty and employment in the Indian economy.2. Agriculture in India : Agriculture Policy, size of agricultural holdings and efficiency,Green Revolution and technological changes, agricultural prices and terms of trade,agricultural prices and production, land reforms, current problems and issues of Indianagriculture. WTO agreement on agriculture (AOA) and its implications for India.Relationship between agriculture and industry.3. Industry: process, rationale, objectives strategies and policies in the Indian context.Employment implications of industrialization, Appropriate industrial technology for India.Phases of industrial growth and changes in industrial structure in India. Public sectorperformance in India. The concept of joint sector. Foreign collaborations andmultinationals in India. Debate on disinvestment of public sector undertakings. Largeversus small scale industry debate in India. Impact of New Industrial Policy on Indianindustry.4. Money and Banking: the monetary institutions of India, factors determining demand forand supply of money, techniques of money supply regulation under open economy.