Economics (BA/BSC 6th)

Unit-I

Economic Growth and Development- Concept and Measurement. Main Features of an Underdeveloped

Economy.

Determinants of Economic Development. Capital Formation: Its Source, Nurkse’s Thesis of Disguised Unemployment. Lewis Theory of Unlimited Supply of Labour.

Unit-II

Classical Model of Growth; Harrod-Domar Model of economic growth; One Sector Neo-classical Model of Growth. Solow Model of Growth. Dualism: Social and Technological.

Unit-III

Theory of Big Push. Leibenstein’s Critical MinimumEffect Thesis. Strategies of Economic Development: Balanced Vs. Unbalanced Growth. Rostow’s Theory of Stages of Growth. 

Unit-IV

Theory of Planning in Developing Countries:Need, Objectives, Strategies and Problems of Planning. Price Mechanism and Planning. Investment Criteria. Choice of Technique. Emerging Strategies: Export Promotion and Import Substitution Strategy.