IGNOU BA Economics (BAECH) Syllabus 2023-24

Candidates interested to pursue BA in Economics can refer the article to know about the syllabus of BA Economics. BA economics consists of Elective and Core subjects. Candidates interested to pursue BA in Economics can check detailed syllabus of both elective and core syllabus of BA Economics in IGNOU.

The Indira Gandhi National Open University (IGNOU), which is the world‘s largest University, offers a series of courses. Established by an Act of Parliament in 1985, it is a Central University. The university also offers BA in Economics course. Candidates interested to pursue BA in Economics can refer the article to know about the syllabus of BA Economics. BA economics consists of Elective and Core subjects. Candidates interested to pursue BA in Economics can check detailed syllabus of both elective and core syllabus of BA Economics in IGNOU.

Structure of BA Economics (Honours)

Candidates can check the detailed structure of BA Economics (Honours) in the table below.

Course Name
Introductory Microeconomics	Economics of Health and Education
Mathematical Methods for Economics I	Applied Econometrics
Introductory Macroeconomics	Environmental Economics
Mathematical Methods for Economics II	Financial Economics
Intermediate Microeconomics I	Environmental Studies
Intermediate Macroeconomics I	English Communication
Statistical Methods for Economics	Bhasha Aur Samprashan
Intermediate Microeconomics II	Developing Emotional Competence
Intermediate Macroeconomics II	Data Analysis
Introductory Econometrics	Indian Societies: Images and Realities
Indian Economy I	Governance: Issues and Challenges
Development Economics I	E-Governance
Indian Economy II	Sustainable Development
Development Economics II

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Introductory Microeconomics

The course of ‘Introductory Microeconomics’ is divided into six blocks. Check it out below.

Syllabus

Block 1 Introduction	Block 4 Market Structure
Unit 1 Introduction to Economics and Economy	Unit 9 Perfect Competition: Firm and Industry’s Equilibrium
Unit 2 Demand and Supply Analysis	Unit 10 Monopoly: Price and Output Decisions
Unit 3 Demand and Supply in Practice	Unit 11 Monopolistic Competition: Price and Output Decisions
Block 2 Theory of Consumer Behaviour	Unit 12 Oligopoly: Price and Output Decisions
Unit 4 Consumer Behaviour: Cardinal Approach	Block 5 Factor Market
Unit 5 Consumer Behaviour: Ordinal Approach	Unit 13 Factor Market and Pricing Decisions
Block 3 Production and Costs	Unit 14 Labour Market
Unit 6 Production with One Variable Input	Unit 15 Land Market
Unit 7 Production with Two and More Variable Inputs	Block 6 Welfare, Market Failure and the Role of Government
Unit 8 The Cost of Production	Unit 16 Welfare: Allocative Efficiency under Perfect Competition
	Unit 17 Efficiency of the Market Mechanism: Market Failure and the Role of the State

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Mathematical Methods in Economics-I

This course introduces the learners to basic mathematical concepts, tools and techniques, and also discusses how these techniques are applied to economic analysis. The students also

learn to think about the appropriate mathematical tool to apply to a given economic phenomenon or process or idea. The course discusses sets, relations functions and logic. The

students also learn about coordinate geometry, differential and integral calculus, and single variable optimization. Finally, the students are exposed to basic linear and non-linear

difference equations.

Syllabus

Block 1 Preliminaries	Block 3 Differentiation
Unit 1 Sets and Set Operations	Unit 7 Limits
Unit 2 Relations and Functions	Unit 8 Continuity
Unit 3 Logic	Unit 9 First-Order Derivatives
Block 2 Functions Of One Independent Variable	Unit 10 Higher-Order Derivatives
Unit 4 Elementary Types of Functions	Block 4 Single-Variable Optimisation
Unit 5 Analytical Geometry	Unit 11 Concave and Convex Functions
Unit 6 Sequences and Series	Unit 12 Optimisation Methods
	Block 5 Integration
	Unit 13 Indefinite Integrals
	Unit 14 Definite Integrals

Introductory Macroeconomics

This course introduces the students to the basic concepts of macroeconomics. It discusses the preliminary concepts associated with determination and measurement of macroeconomic

variables such as saving, investment, GDP, money, inflation, and Balance of Payments.

Syllabus

Block 1: Issues in Macroeconomics and National Income Accounting	Block 4: The Closed Economy in the Short-run
Unit 1 Issues and Concepts	Unit 9 Classical and Keynesian Systems
Unit 2 National Income Accounting	Unit 10 Keynesian Model of Income Determination
Unit 3 Measuring Economic Performance	Unit 11 Fiscal Policy in Keynesian Model
Block 2: Money in a Modern Economy	Block 5: IS-LM Analysis
Unit 4 Definition and Functions of Money	Unit 12 Equilibrium in the Real Sector
Unit 5 Demand for Money	Unit 13 Equilibrium in the Monetary Sector
Unit 6 Monetary Policy	Unit 14 Neoclassical Synthesis
Block 3: Inflation
Unit 7 Inflation: Concept, Types and Measurement
Unit 8 Causes and Effects of Inflation

Mathematical Methods in Economics-II

This course continues from the core course BECC 102 that the students studied in the first semester. The course takes up several topics in mathematical economics. The students learn

about multivariate functions and multivariate differentiation, as well as multivariate optimization. The course also discusses linear algebra — vectors, matrices and determinants,

as their applications in economics. The students are also familiarized with first- and secondorder differential equations.

Syllabus

Block 1 Functions Of Several Variables	Block 3 Linear Algebra
Unit 1 Multivariate Calculus I	Unit 5 Vectors and Vector Spaces:
Unit 2 Multivariate Calculus II	Unit 6 Matrices and Determinants
Block 2 Differential Equations	Unit 7 Linear Economic Models
Unit 3 First-Order Differential Equations	Block 4 Multi Variate Optimisation
Unit 4 Second-Order Differential Equations	Unit 8 Unconstrained Optimisation
	Unit 9 Constrained Optimisation with Equality Constraints

Intermediate Microeconomics-I

Candidates can check the detailed the syllabus of Intermediate Microeconomics-I below.

Syllabus

Block 1 Consumer theory	Block 3 Equilibrium Under Perfect Competition
Unit 1 Preferences and Utility	Unit 7 Profit Maximisation by a Competitive Firm
Unit 2 Consumer’s Equilibrium	Unit 8 Efficiency of a Competitive Market
Unit 3 Consumer’s Surplus
Unit 4 Choice under Uncertainty and Intertemporal Choice
Block 2 Production and Cost
Unit 5 Production Function with One and More Variable Inputs
Unit 6 Cost Function

Intermediate Macroeconomics – I

This course introduces the students to formal modeling of a macro-economy in terms of analytical tools. It discusses various alternative theories of output and employment

determination in a closed economy in the short run as well as medium run, and the role of policy in this context. It also introduces the students to various theoretical issues related to an

open economy.

Syllabus

Block 1: Aggregate Demand and Supply	Block 3: Balance of Payments and Exchange Rates
Unit 1 Aggregate Demand Curve	Unit 7 Financial Markets
Unit 2 Aggregate Supply Curve	Unit 8 Balance of Payments
Unit 3 Equilibrium Output and Prices	Unit 9 Exchange Rate Determination
Block 2: Expectations, Inflation and Unemployment	Block 4: Open Economy Models
Unit 4 Adaptive Expectations	Unit 10 Mundell-Fleming Model
Unit 5 Rational Expectations	Unit 11 Dornbusch’s Overshooting Model
Unit 6 Inflation and Unemployment	Unit 12 Macroeconomic Policy in an Open Economy

Statistical Methods for Economics

This course introduces students to the concepts and techniques of presentation and summarisation of data. It then develops the notion of probability, followed by probability

distributions of discrete and continuous random variables. It introduces students to basics of sampling and statistical inference. In addition, the course provides elementary ideas of index

number, deterministic time series and demography.

Syllabus

Block 1 Descriptive Statistics	Block 3 Probability Theory
Unit 1 Basic Statistical Concepts	Unit 9 Elementary Probability
Unit 2 Tabulation and Graphical Representation of Data	Unit 10 Discrete Probability Distributions
Unit 3 Summarisation of Univariate Data	Unit 11 Continuous Probability Distributions
Unit 4 Moments and Skewness-Kurtosis	Block 4 Sampling and Statistical Inference
Block 2 Summarisation of Bivariate and Multivariate Data	Unit 12 Sampling Procedure
Unit 5 Correlation and Regression	Unit 13 Estimation and Testing of Hypotheses
Unit 6 Index Numbers	Unit 14 Chi-squared Test
Unit 7 Deterministic Time Series and Forecasting
Unit 8 Demography

Intermediate Microeconomics-II

This course on Intermediate microeconomics deals with the Principles of Microeconomics Course, analysis of how the economic theory developed. To pursue this course, candidates are required to have passed Introductory Microeconomics and Intermediate Microeconomics-I courses, and have some working knowledge of calculus (mostly derivatives), basic algebra and graphing skills.

Syllabus

Block 1 General Equilibrium	Block 3 Imperfect Competition II
Unit 1 General Equilibrium with Production	Unit 5 Oligopoly
Unit 2 Overall Efficiency and Welfare Economics	Unit 6 Game Theory and its Applications
Block 2 Imperfect Competition I	Block 4 Market Failure
Unit 3 Monopoly	Unit 7 Externalities and Public Goods
Unit 4 Monopolistic Competition	Unit 8 Asymmetric Information

Intermediate Macroeconomics –II

In this course, the students are introduced to issues in the long run such as economic growth and technical progress.

Syllabus

Block 1: Economic Growth	Block 3: Fiscal and Monetary Policy
Unit 1 Harrod-Domar Model	Unit 8 Fiscal Policy
Unit 2 Solow Model	Unit 9 Monetary Policy
Unit 3 Endogenous Growth Models	Block 4: Schools of Macroeconomic Thought
Unit 4 Business Cycle	Unit 10 Evolution of Macroeconomic Thought –I
Block 2: Microeconomic Foundations	Unit 11 Evolution of Macroeconomic Thought –II
Unit 5 Inter-temporal Choice
Unit 6 Investment Function
Unit 7 Demand for Money: Post Keynesian View

Introductory Econometrics

This course provides a comprehensive introduction to basic econometric concepts and techniques.

Syllabus

Block 1: Econometric Theory: Fundamentals	Block 3: Multiple Regression Models
Unit 1 Introduction	Unit 7 Multiple Linear Regression Model: Estimation
Unit 2 Over view of Statistical Concepts	Unit 8 Multiple Linear Regression Model: Inference
Unit 3 Overview of Testing of Hypotheses	Unit 9 Extension of Regression Models
Block 2: Regression Models: Two variables Case	Block 4: Treatment of Violations of Assumptions and Specification
Unit 4 Simple Linear Regression Model: Estimation	Unit 10 Multicollinearity
Unit 5 Simple Linear Regression Model: Inference	Unit 11 Heteroscedasticity
Unit 6 Extension of Two Variable Regression Models	Unit 12 Autocorrelation

Indian Economy-I

The course introduces the students to the basic features of Indian Economy. An international comparative profile of issues like growth and structural changes, trade and balance of payment, and governance and institutions is also provided.

Syllabus

Block 1: Economic Development Since Independence	Block 3: Growth and Distribution
Unit 1 Economy at the Time of Independence	Unit 8 Poverty
Unit 2 Development Paradigms	Unit 9 Inequality
Unit 3 Structural Changes	Unit 10 Employment and Unemployment
Unit 4 Resources and Constraints	Block 4: International Comparisons
Block 2: Population and Human Development	Unit 11 Growth and Structural Changes
Unit 5 Demographic Features	Unit 12 Social and Economic Development
Unit 6 Education Sector	Unit 13 Trade and Balance of Payment
Unit 7 Health and Nutrition	Unit 14 Governance and Institutions

Development Economics-I

This course familiarizes the students with the concepts of economic growth and development. The course also discusses poverty and inequality, and also political institutions, democracy, regulation, as well as government failure.

Syllabus

Block 1: Growth and Development	Block 3 Inequality and Poverty
Unit 1 Concepts, Indicators and Measurement	Unit 8 Inequality
Unit 2 International Comparisons	Unit 9 Poverty
Block 2 Growth Models: Theory and Evidence	Block 4 Political Institutions and the Functioning of the State
Unit 3 Introduction to Growth Models	Unit 10 Institutions and Evolution of Democracy
Unit 4 Harrod-Domar Model	Unit 11 Theories of Regulation
Unit 5 The Solow Model	Unit 12 Government Failure and Corruption
Unit 6 Endogenous Growth Models
Unit 7 Determinants of Growth

Indian Economy-II

Syllabus

Block 1: Macroeconomic Policies	Block 3: Industrial Sector
Unit 1 Monetary Policy	Unit 9 Industrial Growth and Policy
Unit 2 Fiscal Policy	Unit 10 Small Scale Industries
Unit 3 Trade and Investment Policy	Block 4: Services Sector
Unit 4 Labour Laws and Regulations	Unit 11 Features of Services Sector
Block 2: Agricultural Sector Unit 7 Capital Formation and Productivity	Unit 12 Policy Issues for Services Sector
Unit 5 Performance of Agricultural Sector
Unit 6 Agrarian Relations and Market Linkages
Unit 8 Agricultural Policy

Development Economics-II

This course extends the discussion from core course BECC 112 on the economics of economic growth and development.

Syllabus

Block 1: Demography and Development	Block 3: Individuals, Communities and Collective Outcomes
Unit 1 Demographic Concepts	Unit 6 Individual Behaviour in Social Environments
Unit 2 Demographic Transitions and Process of Development	Unit 7 Governance in Organisations and Communities
Block 2: Land, Labour and Credit Markets	Unit 8 Environment and Sustainable Development
Unit 3 Land	Block 4 Globalisation and Development
Unit 4 Labour	Unit 9 Globalisation in Historical Perspective
Unit 5 Credit	Unit 10 The Economics of Globalisation

Discipline Specific Electives

Economics of Health and Education

Syllabus

Block 1 Introduction	Block 4 Health Sector in India
Unit 1 Health and Education for Human Capital	Unit 8 Status of Health and Medical Care in India
Unit 2 Role of Health in Human Development	Unit 9 Health Policy in India
Block 2 Foundations of Health Economics	Block 5 Economics of Education
Unit 3 Demand for Healthcare Services	Unit 10 Human Capital
Unit 4 Supply of Healthcare Services	Unit 11 Demand and Supply Considerations of Education
Unit 5 Measurement of Health Benefits	Block 6 Education Sector in India
Block 3 Health Policy	Unit 12 Status of Educational Outcomes
Unit 6 Market Failure and the Role of the Government	Unit 13 Government Policy and Financing of Education in India
Unit 7 Public Health Services

Applied Econometrics

The aim of this course is to provide a foundation in applied econometric analysis and develop skills required for empirical research in economics.

Syllabus

Block 1: Empirical Issues in Econometric Research	Block 3: Panel Data Models
Unit 1 Stages in Empirical Research	Unit 8 Introduction to Panel Data
Unit 2 Specification Issues	Unit 9 Estimation of Panel Data Models
Unit 3 Model Selection Criteria	Block 4 Introduction to Econometric Software Packages
Block 2: Advanced Topics in Regression Analysis	Unit 10 Introduction to GRETL
Unit 4 Distributed-lag Models	Unit 11 Introduction to E-Views
Unit 5 Auto-regressive Models	Unit 12 Introduction to STATA
Unit 6 Simultaneous Equation Models - I
Unit 7 Simultaneous Equation Models - II

Environmental Economics

This elective course deals with the themes of market failure and property rights in the context of environment.

Syllabus

Block 1: Introduction	Block 4: International Environmental Problems
Unit 1 Economy and Environment	Unit 8 Transboundary Environmental Problems
Unit 2 Review of Microeconomics and Welfare Economics	Unit 9 Trade and Environment
Block 2: Theory of Externalities	Block 5: Valuation of Environment
Unit 3 Market Failure	Unit 10 Economic Value of Environmental Services
Unit 4 Property Rights and Coase Theorem	Unit 11 Non-market Valuation of Environmental Services
Block 3: Environmental Policy	Unit 12 Green Accounting
Unit 5 Command and Control Policy Approach	Block 6: Sustainable Development
Unit 6 Market Based Instruments	Unit 13 Sustainable Development
Unit 7 Implementation of Environmental Policy	Unit 14 Growth and Environment

Financial Economics

This Discipline Specific Elective Course introduces the students to financial instruments, institutions and markets.

Syllabus

Block 1 Financial Instruments Markets and Institutions	Block 4 Single-Period Random Cash Flows
Unit 1 Financial Markets	Unit 8 Risk and Uncertainty
Unit 2 Financial Institutions	Unit 9 Random Assets
Unit 3 Financial Instruments	Unit 10 Portfolio Mean and Variance Analysis
Block 2 Elementary Statistics and Spreadsheets	Block 5 Asset Pricing
Unit 4 Elementary Statistics	Unit 11 Markowitz Model
Unit 5 Elementary Spreadsheets	Unit 12 Capital Asset Pricing Model
Block 3 Deterministic Cash Flow Streams	Block 6 Pricing of Futures Options and Other Derivatives
Unit 6 Basic Theory of Interest	Unit 13 Forwards and Futures
Unit 7 Fixed Income Securities	Unit 14 Options Swaps and Other Derivatives
	Block 7 Corporate Finance and Policy
	Unit 15 Patterns of Corporate Financing
	Unit 16 Corporate Policy

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