Name of the Department: Economics
Year of Establishment:
| 1981 | B. A Economics |
| 2007 | M. A. Economics |
About the Department : The Department of Economics is Established in June 1981 at K.P.G Arts Commerce & Science College Igatpuri, is dedicated to understanding and explaining Indian Economic Issues in the context of current world and domestic issues. The department offers a bachelor’s & master degree course for rural and Tribal students. Students study the structure of local, state, national & Global basic economic Issues. To study the concepts of basic, state, National & Global Economic problems, etc. We practice various learning activities such as seminars, group discussions, projects, debate-clubs, study tours, Field Visit etc. to increase the analytical skills among the students. The department prepares the students to practice an effective learning regarding economic issues.
The most notable feature of the work of the department is the close and constant association of students and college teachers in various study activities. Activities of the department show awareness towards study of regional economical realities in order to develop generalizations on the basis of these realities.
Vision of the Department: “To Imparting theoretical and applied knowledge of Economic among Rural & Tribal area Students. And conducting Research on Socio- Economic Problems at local level.’’
Mission Statement of the Department :–
To Prepare students for acquiring applied knowledge of Economics to enhance their employability and entrepreneurship in the Rural & Tribal Area
Goals
1) To provide high quality academic education and training in the field of rural and Tribal economics.
2) To enable the application of economics principles to the design and analysis of economic policy.
3) To produce quality graduates with the analytical expertise that will enable them to function more effectively as economists, policy makers, researchers and educators.
Programs Offered:
| Sr.No. | Name of the Programme | Year of introduction of programme | Duration of introduction of Programme | Intake |
| 1. | B.A. | 1981 | 03 year | 480 |
| 2. | M.A. | 2007 | 02 Year | 60 + 60 |
Program Outcomes, Program Specific Outcomes,
Course specific Outcomes
Department of Economics
| Program outcome : B.A. (Economics) | |
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B.A. Economics |
Ø Critical Thinking: Take informed actions after identifying the assumptions that frame our thinking and actions, checking out the degree to which these assumptions are accurate and valid, and looking at our ideas and decisions (intellectual, organizational, and personal) from different perspectives. |
| Ø Effective Communication: Speak, read, write and listen clearly in person and through electronic media in English and in one Indian language, and make meaning of the world by connecting people, ideas, books, media and technology. | |
| Ø Social Interaction: Elicit views of others, mediate disagreements and help reach conclusions in group settings. | |
| Ø Effective Citizenship: Demonstrate empathetic social concern and equity centered national development, and the ability to act with an informed awareness of issues and participate in civic life through volunteering. | |
| Ø Ethics: Recognize different value systems including your own, understand the moral dimensions of your decisions, and accept responsibility for them. | |
| Ø Environment and Sustainability: Understand the issues of environmental contexts and sustainable development. | |
| Ø Self-directed and Life-long Learning: Acquire the ability to engage in independent and life-long learning in the broadest context socio-technological changes | |
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M.A. Economics |
Ø Ability to apply the concepts of micro economics such as demand, supply, revenue, cost, elasticity, etc |
| Ø Ability to compare and contrast various market structures and understand concept of equilibrium, price determination | |
| Ø At the end of the course, the student should be able to evaluate microeconomic concepts, models and its use in real life situations. | |
| Ø Ability to understand, apply and analyze concepts-public debt, budget, fiscal policy in public economics. | |
| Ø Ability to interpret the theories relating to public economics in real life situations. | |
| Ø Ability to discuss and debate on the public finance and policies w.r.t. India | |
| Ø Ability to understand and interpret the concepts such as Balance of Payments, Exchange Rates, Foreign Exchange transactions, International capital flows, etc. | |
| Ø Ability to critically analyze the effects of deficits, exchange risk, role of foreign capital on the world economy/trade | |
| Ø Ability to discuss and debate on subjects related to international trade and finance w.r.t the Indian Economy | |
| Ø Ability to analyze and evaluate the subject with reference to various aspects of Labour economics. | |
| Ø Ability to develop an understanding of the labour with its intricacies and imperfections and to be able to construct intellectual dialogue on the challenges of labour w.r.t. the Indian Economy. | |
| Program Specific outcome : B.A. ( Economics) | |
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B.A. Economics |
1. Understand the behavior of Maharashtra, India and World economy |
| 2. Analysis macroeconomic policies including fiscal and monetary policies of India since economic reforms. | |
| 3. Determine economic variables including inflation, unemployment, poverty, GDP, Balance of Payments using statistical methods. | |
| 4. Understand the behavior of financial and money markets and perform cost-benefit analysis for making investment decisions. | |
| M.A. Economics | 1. Ability to analyze and demonstrate knowledge of the basic theories/laws in economics- law of demand, law of supply, production function, etc
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| 2. At the end of the course, the student should be able to evaluate microeconomic concepts, models and its use in real life situations.
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| 3. Ability to recognize, apply and analyze concepts and theories in public economics.
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| 4. Ability to appraise and assess the theory of public economics in real life situations. | |
| 5. Ability to understand the concepts of international economics such as comparative cost, terms of trade, trade policies and trade agreements | |
| 6. Ability to interpret and apply theory relating to understand international trade
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| 7. Ability to discuss and debate the effects of trade policy, trade agreements, exchange rate policies on the world economy/trade
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| 8. Ability to analyze and evaluate the subject with reference to various aspects of agrarian economies.
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| 9. Ability to develop an understanding of agriculture with its intricacies and imperfections and to be able to construct intellectual dialogue on the challenges of agriculture | |
Course Outcomes (U.G.)
| Sr. No. | Class | Course | Course Outcomes | |
| 1 | FY
BA- |
G1- Indian
Economic Environment Sem-I (11151) |
Ø To familiarize the students with the recent developments in the Indian Economy.
Ø To help the students to prepare for varied competitive examinations Ø To provide the students with the background of the Indian Economy with focus. Ability to develop an understanding of the economic environment and the factors affecting economic environment. Ø Ability to develop awareness on the various new developments in the different sectors of an economy – agriculture, industry, services, banking, etc. Ø Ability to compare and contrast Indian Economy with other world economies. |
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| G1- Indian
Economic Environment Sem-II (12151) |
Ø To help the students to prepare for varied competitive examinations
Ø To enable students to understand and comprehend the current business scenario, agricultural scenario and other sectorial growth in the Indian context. To make the student aware of the developments such as MSMEs, Digital Economy, E-Banking, BPO & KPO, etc. Ø Ability to develop an understanding of the economic environment and the factors affecting economic environment. Ø · At the end of the course, the student should be able discuss and debate on the Ø various issues and challenges facing the Indian Economic Environment. |
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| 2 | SY
BA |
G2-Financial System
Sem-III (23153) |
Ø To create the awareness of the student of modern banking system. | |
| Ø Understanding of the opportunities of banking their interaction with rest of the economy essential to realize how monetary force operates through multitude of channels.
Ø To understand fundamentals of modern financial system Ø To understand the recent trends and developments in banking system. |
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| G2-Financial System
Sem-IV (24153) |
Ø To understand the role of the Reserve Bank of India in Indian financial system.
Ø To provide the knowledge of various financial and non-financial institutions. Ø To provide the students the intricacies of Indian financial system for better financial decision making. |
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| S1-Micro Economics
Sem-III (23151)
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Ø To develop an understanding about subject matter of Economics.
Ø To impart knowledge of microeconomics. Ø To clarify micro economic concepts Ø To analyse and interpret charts, graphs and figures Ø To develop an understanding of basic theories of micro economics and their application. |
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| S1-Micro Economics
Sem-IV (24151) |
Ø To understand the behavior of an economic agent namely; a consumer, a producer, a factor owner and the price fluctuations in a market. Price formation in different markets structure and the equilibrium of a firm and industry.
Ø To demonstrate that the theories discussed in class will usually be applied to real-life situations. Ø To help the students to prepare for varied competitive examinations |
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| S2-Macro Economics
Sem-III (23152) |
Ø To understand the economic analysis in terms of theoretical, empirical as well as policy-making issues.
Ø The objective of the course is to familiarize the students the basic concepts of Macroeconomics and applications. Ø To introduce students to the historical background of the emergence of macroeconomics |
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| S2-Macro Economics
Sem-IV (24152) |
Ø To familiarize students with the differences between microeconomics and macroeconomics.
Ø To familiarize students with various concepts of national income Ø To familiarize students with keynesian macroeconomic theoretical framework of consumption and investment functions |
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| 3 | TY
BA |
G3-Indian Economic Development-I
Sem- V (35153) |
Ø This paper is devoted to the theories of economics development, approaches to economic development, social and institutional aspects of development, constraints on development process, macroeconomic policies, role of foreign capital and economic planning in developing countries.
Ø To relate and recognize the concept and indicators of Economic Development. Ø To describe and analyze the concept and indicators of Human Development. |
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| G3-Indian Economic Development-I
Sem- V (35153) |
Ø To explain the characteristics of Developing and Developed Countries.
Ø To describe the constraints to the process of Economic Development. |
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| S3 International Economics-I
Sem- V (35151) |
Ø Course provides the students a thorough understanding and deep knowledge about the basic principles that tent to govern the free flow of trading goods and services at the global level.
Ø It trained about the rational of recent challenge in the export import policies of India. |
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| S3 International Economics-II
Sem- VI (36151) |
Ø To relate and recall the concepts of International Economics and
Ø International Trade. Ø To describe and apply the theories of international trade. Ø To explain and comprehend the issues relating to Terms of trade and Balance of Payment. |
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| S4-Public Finance
Sem- V (35152) |
Ø To relate and recognize the Nature and Scope of Public Finance.
Ø To describe and analyse the concept of Public Revenue and its components. Ø To explain types of Public Expenditure and reasons for rising Public Expenditure. Ø To explain the types of Public Debt and its effects. |
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| S4-Public Finance
Sem- VI (36152) |
Ø To explain and assess the components and instruments of Fiscal Policy.
Ø To relate to the concepts of Budget and its components. Ø To describe and analyze the concept of Deficit Financing and its effects. Ø To describe and explain the Centre and State Financial Relationship. |
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Course Outcomes (MA _ Economics)
| Sr. No. | Class | Course | Course Outcomes |
| 1 | MA-
Part- I, Sem.-I |
1.Micro
Economics Analysis-I (12301) |
Ø To provide a thorough understanding of the principles of economics
Ø • To enable students to apply micro economic concepts in various contexts. Ø • To enable understanding the basic theories in microeconomics such as demand theory, production theory, market structures. Ø • To discuss the modern developments in micro economics such as Modern Demand theories. |
| 2.Public Economics-I
(12302) |
Ø To develop an understanding of the changing role of the government and the fiscal functions of the modern governments.
Ø • To discuss and deliberate on the concepts and theories in public economies like public policy, principles of taxation, theories of public expenditure, etc. Ø • To develop an understanding of various policies in public economics like fiscal policy, taxation policy, public debt policy, public expenditure policy etc. |
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| 3.International Trade
(12303) |
Ø • To develop an understanding of the theoretical concept in international trade. • To analyze international economics with reference to terms of trade, trade policy, trade agreements etc.
Ø • To provide knowledge to students regarding recent developments and changes in international banking, international banking agreements etc. Ø • To make the students understand role of international economic organization and global crisis development. |
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| 4.Agricultural Economics
(12304) |
Ø To develop an understanding of agricultural economics in the theoretical as well as practical context.
Ø • To discuss and debate the various issues and challenges faced by agrarian economies w.r.t. production, productivity, efficiency, employment, etc. |
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| 2 |
MA- Part-I, Sem.-II |
1.Micro Economics Analysis-II
(22301) |
Ø • To provide a thorough understanding of the principles of economics
Ø • To enable students to apply micro economic concepts in various contexts. Ø • To enable understanding the basic theories in microeconomics such as demand theory, production theory, market structures. Ø • To discuss the modern developments in micro economics such as Game Theory. |
| 2.Public Economics-II
(22302) |
Ø • To develop an understanding of various policies in public economics like fiscal policy, public debt policy, fiscal finances, etc.
Ø • To help the students to understand the normative policies and compare it with the policies framed and followed by Indian economy. Ø • To impart information to the students about the reforms like taxation reforms in India |
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| 3.International Finance
(22303) |
Ø • To develop an understanding of the theoretical concept in international financeBalance of Payments, exchange rate policies, capital flows, etc.
Ø • To compare and contrast the scenarios on international trade in India vis-à-vis the world economy. Ø • To provide knowledge to students regarding recent developments and changes in international banking, international banking agreements etc. Ø • To make the students understand role of international economic organization and global crisis development. |
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| 4.Labour Economics
(22304) |
Ø To develop an understanding of labour economics in the theoretical as well as practical context.
Ø • To discuss and debate the various issues and challenges faced by labour with reference to division of labour, employment, wage determination, etc. Ø • To demonstrate on the various aspects of labour dynamics and labour relations w.r.t. India |
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| 3 |
MA- Part-II, Sem.-III
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1.Macro Economics Analysis-I
(32301) |
Ø Course equips the students to understand systematic facts and latest theoretical development for empirical analysis. |
| 2.Growth &Development-I
(32302) |
Ø This course most important area of the economic exploration in the last 50-60 years. Although relatively recent in origin this subject occupies a significant position in the economic theory and practice. It includes the evaluation of growth models as well as important concept such as poverty, inequality and population dynamics in the context of developing countries. | ||
| 3.Research Methodology
(32303) |
Ø Course intends to make students aware about the changing scenario of the modern banking role, structure, performance and the current problem faced by the banking sector in India and also in the world. | ||
| Ø It also covers the future prospects and role of modern banking sector at the global level. | |||
| 4.Demography
(32305) |
Ø To understand the importance of population in economic development and various theories that explains the growth of population in a country. | ||
| Ø Gender characteristics, migration and urbanization are the essential to understand the dynamics of this change. | |||
| 4 | MA- Part-II, Sem.-IV | 1.Macro Economics Analysis-II
(42301) |
Ø This course assumed such a great significance in recent times that a prior understanding of macroeconomics theoretical structure is considered essential of the proper comprehension of the different issues and policies. |
| 2. Growth & Development-II
(42302) |
Ø India beginning a developing country this subject becomes extremely relevant for current situation. It includes the practical aspects of process of growth and development including the role of agriculture and industry, external trade and resources mobilization and the role of the state and the markets. | ||
| 3.Research Methodology
(42303) |
Ø Course provides extension and application of knowledge in a current specialized field. To get exposed to a few elements of social science research. Elementary knowledge of research methodology consolidated and depend their understanding of various branches of economics. | ||
| 4.Economics of Environment
(42306) |
Ø The course attempts to sensitize the students about the dynamics of changes in the Rural Economy. It includes the study of problems faced by rural population and also includes the critical review of various schemes and projects that benefit the rural population. In this course the students are also made capable to understand the process of rural development and problems of rural development. |
Course Outcomes –Economics (B. Com)
| 1 | F.Y. B. Com
Sem-I |
Business Economics (Micro)
(113) |
Ø To impart knowledge of business economics
Ø To clarify micro economic concepts Ø To analyze and interpret charts and graphs Ø To understand basic theories, concepts of micro economics and their application |
| 2 | F.Y. B. Com
Sem-II |
Business Economics (Micro)
(123) |
Ø To understand the basic concepts of micro economics.
Ø To understand the tools and theories of economics for solving the problem of decision making by consumers and producers. Ø To understand the problem of scarcity and choices. |
| 3 | S.Y. B. Com-Sem-III | Business Economics (Macro)
(233) |
Ø To understand the concept, process and importance of communication.
Ø To acquire and develop good communication skills requisite for business correspondence. Ø To develop awareness regarding new trends in business communication. Ø To provide knowledge of various media of communication. Ø To develop business communication skills through the application and exercises. |
| 4 | S.Y. B. Com- Sem-IV | Business Economics (Macro)
(243) |
Ø To familiarize the students to the basic theories and concepts of Macro Economics and their application.
Ø To understand the theories of money. Ø To understand the phases of trade cycle and policy measures to elongate the trade cycle. Ø To understand various concepts related to public finance. Ø To understand credit creation of banks and money measures of RBI. |
| 5 | T.Y. B. Com
Sem-V |
Indian and Global Economic Development
(353) |
Ø Students will be able to understand present Economic Scenario of Indian Economy as well as World Economy.
Ø Students will understand the working of foreign trade market and foreign exchange market. Ø Students will be able to comprehend trade policies and concepts related to trade policies. Ø Students will be able to use the subject knowledge in their future academic and professional ventures. |
| 6 | T.Y. B. Com
Sem-VI |
Indian and Global Economic Development
(363) |
Ø Students will be able to understand the concept of Human Resource Development.
Ø Students will be able to understand the role of foreign capital in Economic Development. Ø Students will be able to critically evaluate the Indian Foreign Trade Policy. Ø Students will be able to analyzethe role of International Financial Institutions. Ø Students will be able to evaluate the success of Regional Economic Cooperation’s. |