SEMESTER VI CORE COURSE XI QUANTITATIVE ECONOMICS (EC6B11U) Module I Central Tendency and Dispersion - Various central tendency measures - Arithmetic mean – properties – merits and demerits –methods of calculation – weighted, unweighted and combined. Median – definition – merits and demerits – method of calculation – graphic location – Mode – merits and demerits – methods of calculation: significance of dispersion, methods, absolute and relative measures – Range, quartile deviation, mean deviation, standard deviation – Lorenz curve and its economic applications. (30 Hrs.) Module II Correlation and regression analysis: their significance in Economics – Correlation and regression compared – types of correlation – measurement, scatter diagram, Karl Pearson’s correlation coefficient (for raw data only). Rank correlation – regression equations and regression lines – prediction of values based on equations ‘y on x’ and ‘x on y’. (30 Hrs.) Module III Skewness, Kurtosis, Moments: Types of skewness –measurement - Kurtosis – Definition and types (graphic presentation) Moments: central and raw moments (for ungrouped data only). (10 Hrs.) Module IV Differential Calculus: Its significance in Economics. Rules of differentiation – First order and second order derivatives – some practical applications – Maxima and Minima of functions. (10 Hrs.) Module V Probability and Distribution: Concept – Rules of probability (addition and multiplication theorem – statement only) – Different approaches – Important terms related to probability (Random experiments, sample space, events) – Simple problems based on theorems – Probability distribution – binomial and normal – their properties and uses – Estimation of probabilities using standard normal table. (28 Hrs.) SEMESTER VI
Module I - Introduction to the Theory of International Trade International Economics – Meaning and Significance – Pure theory of international trade – Basic concepts – terms of trade – meaning and types - offer curve – community indifference curve – opportunity cost – Absolute advantage – Comparative advantage – the Heckscher – Ohlin theory – Leontief Paradox – gains from trade – static and dynamic gains. 25 hrs Module II - Balance of Payments Meaning and structure of balance of payments – equilibrium and disequilibrium in the balance of payments – measures to correct disequilibrium – monetary and non-monetary measures – Devaluation and Balance of Payments - Marshall-Lerner condition 20 hrs Module III - Foreign Exchange Rate Equilibrium Rate of Exchange – theories of exchange rate determination – mint parity theory – purchasing power parity theory – theory – Fixed and flexible exchange rate - forward rate – spot rate – nominal, real, and effective rate of exchange – foreign exchange risks – hedging and speculation –currency derivatives –future options – currency swaps 25 hrs Module IV - Trade Policy and Financial Systems Commercial policy – free trade vs protection – Tariffs and Quotas - their effects – Bretton Woods System - IMF – IBRD; WTO: WTO and Indian economy 20 hrs SEMESTER VI CHOICE-BASED COURSE XI HUMAN RESOURCE MANAGEMENT (EC6B14.2U) Module I: Importance of Human Resource Management - evolution of HRM - changing environment and work ethics- human resource management departments and their tasks - jobs and careers –professional activities - training and development. (15 Hrs) Module II: Human Resource planning - models for HR planning - determining requirements - forecasting demand for labour- human resource availabilities - gaps - planning for shortages – planning for surplus. (15 Hrs) Module III: Individuals and jobs – employee ability- job analysis -rewards - work motivation - motivational processes – employee participation - prestige and morale-measurement and improvement of morale - Employee performance - elements of performance appraisal - error identification and reduction – job satisfaction - attendance and retention. (22 Hrs) Module IV: Compensation policy - pay and benefits - promotion and transfer of employees - service conditions - protection and safeguards of civil servants - developing a pay structure – job