FUNDAMENTALS OF ECONOMICS

Course Code : EC5OPT01                                                                           Coordinator : Smiji A.J

Course Credit: 4

Semester : 5

Course Type: Open Course

Department: Economics

Course Objectives:

• This course is designed to make the undergraduate students of other disciplines aware of the basic ideas and concepts in Economics.

Learning Outcomes:

After the completion of the course , students will be able to –

1. Develop the ability to explain core economic terms, concepts, and theories.
2. Discuss recent developments in the field of  Indian Banking System.
3. Understand  international trade and the role of international financial  institutions in world trade.
4. Analyse the basic characteristics of Indian economy .
5. Understand the importance, causes and impact of population growth in India and Kerala.
6. Analyse the impact of LPG in Indian economy.

SYLLABUS

Module 3: Financial System and International Trade

Negotiable and non-negotiable instruments – cheques – drafts – bills of exchange  –  promissory notes-letter of credit – certificate of deposits – commercial papers – banking and non-banking institutions – commercial banks –– Core Banking, Internet Banking, Mobile Banking, ATM/Debit & Credit Cards,IFSC,NEFT,RTGS–NPA in Indian banking sector-  RBI functions – money and capital market – major financial instruments – shares,  debentures    and bonds – Insurance: meaning, nature and types – stock exchange – BSE, NSE  –  stock market indices – SEBI – mutual funds. Terms of trade – balance of trade  –  balance  of  payments – foreign exchange – exchange rate – spot – forward – fixed – floating – IMF, World Bank – WTO.

Module 4: Indian Economic Development

An overview of Planning in India – Planning Commission  –NITI  Aayog-  Finance Commission – Green revolution – changing pattern of  India’s  industrialisation  –  Liberalization – Privatization – Globalization (LPG) – Major features of population  in  India  and Kerala – Kerala model of development.

COURSE OUTLINE

No.    Topics                                                                                 Learning Outcomes                                        Hours

1. Negotiable and non-negotiable instruments ,            1.Understanding the different  types of                3                        cheques , drafts , bills of exchange ,                              banking instruments.                                                                  promissory notes-letter of credit , certificate of         2.Application of banking instruments in                                        deposits ,commercial papers .                                        daily life.

2.    Banking and non-banking institutions ,                        1. Distinguishing between banking and                  6

commercial banks , Core Banking, Internet Banking,         non-banking institutions.

Mobile Banking, ATM/Debit & Credit Cards,                       2.Understanding the recent trends in banking.

IFSC, NEFT,RTGS, NPA in Indian banking sector             3. Discussing the e-services in banking.

3. RBI functions , money and capital market ,                     1. Analysing the role of RBI.                                         6

major financial instruments , shares,  debentures              2. Distinguishing money and capital mkt.

and bonds , Insurance: meaning, nature and types.           3. Understanding the concept insurance and

its importance in daily life.

Internal  I : Presentation of seminar topics by students.

4. stock exchange ,BSE, NSE ,  stock market indices ,         1. Understanding the economic importance             3

SEBI , mutual funds.                                                                     of Stock markets.

2. Discussing the stock market instruments.

5. Terms of trade ,balance of trade,                                        1. Understanding world trade and basic concepts.     6

balance  of  payments , foreign exchange,                           2. Analysing forex market and exchange rates.

exchange rate , spot , forward ,, fixed,  floating,                 3. Discussing the role of international financial

IMF, World Bank ,WTO.                                                              institutions in world trade.

Internal  II: Assignment on current issues in World Trade.

6. An overview of Planning in India ,                                   1. Understanding the basic characteristics of Indian     6

Planning Commission ,NITI  Aayog,                                        economy.

Finance Commission.                                                              2. Analysing the present status of  Planning in India.

7. Green revolution,  changing pattern of                         1. Discussing the concept LPG.                                              8

India’s  industrialisation ,  Liberalization ,                       2. Understanding the impact of LPG on Indian

Privatization , Globalization (LPG).                                        agriculture and industry.

8. Major features of population  in  India                        1. Understanding the concept of population.                      6

and Kerala , Kerala model of development.                     2. Analysing the features of population in India

and Kerala.

Internal III : Group Discussion on Population growth and impact.       

TEACHING  SCHEDULE

Topics                                                                                                                               Hours                Dates

Module 3: Financial System and International Trade

1. Negotiable and non-negotiable instruments ,cheques ,drafts,                      2                        July 15,17                                                bills of exchange
2. promissory notes-letter of credit ,certificate of deposits ,                               2                       July 20,22                                                    commercial papers
3. banking and non-banking institutions – commercial banks                           2                       July 27,29
4. Core Banking, Internet Banking, Mobile Banking                                            1                       Aug 3
5. ATM/Debit & Credit Cards, IFSC, NEFT, RTGS                                               1                       Aug 5, 10
6. NPA in Indian banking sector,  RBI functions                                                   2                      Aug 10, 12
7. Money and capital market , major financial instruments                                1                      Aug  17, 19
8. shares,  debentures  and  bonds, stock exchange – BSE, NSE                        2                      Aug  19,24
9. stock market indices – SEBI – mutual funds.                                                     2                      Aug 26, Sep 7
10. Insurance: meaning, nature and types .                                                               1                      Sep 9
11. Terms of trade – balance of trade  –  balance  of  payments                              3                     Sep 14,15,16
12. Foreign exchange – exchange rate – spot – forward – fixed – floating          2                     Sep  19, 21
13. IMF, World Bank , WTO.                                                                                         3                     Sep 23, 26, 28
    

    Module 4: Indian Economic Development

    1. An overview of Planning in India – Planning Commission                           3                        Sep 30, Oct 5,7                   NITI  Aayog                                                                                                                                                                            2.Finance Commission , Green revolution                                                            3                       Oct 10, 12, 14                 3. changing pattern of  India’s  industrialisation                                                 3                       Oct 17,19,21,                          4.Liberalization – Privatization – Globalization (LPG)                                3                        Oct 24, 26, 27                                         5. Major features of population  in  India  and Kerala               3                        Oct 28, 29,30                                       6.Kerala model of development.                                                       1                        Oct 31

    PEDAGOGY:

    The course will commence with making the students understand the basic economic concepts and helps to study  systematically and methodically the economic network of society  especially the financial system and trade . The tutorials will focus on the understanding and applications of concepts discussed in the lectures.

    EVALUATION STRATEGY:

    The internal evaluation is based on the participant’s attendance, class participation, assignments, seminars and internal assessment and continuous evaluation tests.

    EVALUATION SCHEME:

    Sl.No	Components	Weightage
    1	End term exam	80
    2	Attendance	5
    3	Internal Marks	10
    4	Seminars/Assignments	5

     

    REFERENCES:

    1. R R Paul (2008), Monetary Economics, Kalyani Publishers, Lidhiyana

     

    2. V K Bhalla (2008), Investment Management, Chand & Co., New Delhi.

     

    4. Bo Sodersten & Reed Dominic, International Economics, palgrave mcmillan

     

    5. Samuelson (2009), Economics, Tata McGraw Hill, New

     

    6. Gaurav Datt & Ashwani Mahajan, (recent edition) Datt & Sundharam Indian Economy, S. Chand & Co., New Delhi ( recent edition)
    7. Alwin Prakash, Kerala;’s Economic Development (2004),Sage Publications, New

     

    WEB REFERENCE:

    FACULTY DETAILS:

     

    Website   :   stpauls.ac.in

    Email       :   [email protected]

    Mobile     :  9567479328

     

    ASSIGNMENTS

    Topics for the assignments will be either announced in the online/offline class during course or put in the shared folder.

     

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