ECONOMICS-II

Course outline
Faculty: Prof. G. Ramachandrudu
SCOPE OF THE COURSE
This course is about Development Economics and Indias development experience since
independence. Impact of Globalisation on social, economic and legal systems is
examined.
It introduces different perspectives of development and Planning strategies and
approaches to development.
It critiques dominant perspectives of planning for development of agricultural, industrial
and service sectors. It examines development policy perspectives, which may be more
localized and therefore suited to indigenous communities. The role of different
institutions like the State, market, voluntary agencies and people's organizations in
handling issues like population increase, foreign debt, Environment, unemployment,
poverty and inequality are also analyzed.
Unit

Unit: I Economic Growth and Development

No.of classes

1.1
1.2
1.3
1.4
1.5

Economic Systems
Economic Growth and Economic Development
Characteristics of More Developed and Less Developed countries
Theories of Population Growth and Demographic Dividend
Classical and Neo- classical Theories of Economic Growth
Unit: II Indian Economic Problems

2
2
2
4
4

2.1
2.2
2.3
2.4
2.5

Problems of Indian Agriculture and agriculture policy

Industrial policies and problems of Industrial sector
Growth of Service sector
Land Reforms and Landing Ceiling Laws
Labor Policy and Social Security Legislations

3
3
3
2
2

3.1
3.2
3.3
3.4
3.5

Unit: III Economic Planning

Changing role Planning Commission and NDC
Objectives and Importance of Economic Planning
Strategies of Economic Planning and Review of Progress
Poverty and Unemployment
Role of the State in a Planned Economy
Unit: IV Economic Policies and External Sector

2
2
2
4
3

4.1
4.2
4.3
4.4

New Economic Policies, LPG Policies and Make in India policy

Foreign Direct Investment (FDI)
Foreign Debt Burden
Foreign Trade Policy

2
4
3
2

4.5

Environment and Pollution Control Policy

Unit-V Economic Analysis of Law

5.1
5.2
5.3
5.4
5.5

Introduction to Economic analysis of Law

Economic offences and Laws relating to them
Banking and Non-Banking Financial Institutions and their regulation
Costs and Benefits of Legal Administration
Economic dimensions of Damages and Compensation

2
3
3
2
2

TEXT BOOKS
1. Rudra Datta and K.P.M.SundaramIndian Economy, S Chand& Sons
2. Planning CommissionTwelfth Five Year Plan
3. Debraj RayDevelopment Economics, Princeton University
4. S.K.Mishra and V.K.PuriIndian Economy,2012, Himalaya
5. Meenakshi Dev SharmaIndian Economy for Law Students, Central Law Agency
6. R.C.AgarwalEconomics of Development and Planning
7. K.C. Gopalkrishnan-Legal Economics: International Dimensions of Economics and Law
8. NCERTIndian Economic Development
9. Government of IndiaEconomic Survey, 2014
10. Brahmananda, P.R. and Panchmukhi, V.R. (Eds) (2001), Development Experience in the
Indian Economy: Inter State Perspectives, Bookwell, Delhi.
11. Kalpana SatijaText Book on Economics for Lawstudents;2009,Universal law
Publishing Co., Delhi
12. P.G.Babu, A.V.Raja, Hans-Bernard Schafer, T.S.Somashekar and Thomas Eger
(2010)Economic Analysis of Law in India: Theory and Practice,
Oxford University Press