Department of Economics Lab III: Application of Statistics in

ECO273 0 4 2.0
Session: 2016-17 Economics
It is compulsory for the students to complete all Micro, Macro and Econometrics ECO283 Viva Voce 0 0 1.0
courses in their 140-credits (minimum) Bachelor of Social Science (BSS) in Economics ECO293 Seminar III 0 2 1.0
program. Moreover, 20% of the whole credits must be from minor courses (i.e. a total of Total 15 6 19.0
minimum 28 Credits as in minor come out of required 140 Credits).
N.B.: Course code details: First Digit: Year (As per semester ordinance of SUST); Second Year: Semester II
Second Digit: 0 = Minor course, 1 = Micro, 2 = Macro, 3 = Micro & Macro, 4 = Hours/Week
Course
Applied, 5 = Analytical, 6 = Policy/Factual, 7 = Lab, 8 = Viva, 9 = Seminar; Third Course Title Credits
No. Theory Lab
Digit: 1 – 8 = Sequence of same course.
. ECO222 Macroeconomics II 4 0 4.0
First Year: Semester I Economics of Planning & Project
ECO243 4 0 4.0
Course Hours/Week Analysis
Course Title Credits ECO261 Public Finance 4 0 4.0
No. Theory Lab
ECO111 Microeconomics I 4 0 4.0 CSE202 Introduction to Computing Applications 0 6 3.0
MAT101 Mathematics I 2 0 2.0 Lab IV: Application of Statistical
ECO274 0 2 1.0
ENG 101 English Language 2 0 2.0 Software in Economics
ENG 102 English Language Lab 0 2 1.0 ECO284 Viva Voce 0 0 1.0
Politics and Administration in ECO294 Seminar IV 0 2 1.0
PSS102 3 0 3.0 Total 12 10 18.0
Bangladesh
Lab1: Application of Mathematics in
ECO171 0 4 2.0 Third Year: Semester I
Economics I
ECO181 Viva voce 0 0 1.0 Course Hours/Week
Course Title Credits
ECO191 Seminar I 0 2 1.0 No. Theory Lab
Total 11 8 16.0 ECO331 Theories in Economics of Development 4 0 4.0
ECO352 History of Economic Thought 4 0 4.0
First Year: Semester II ECO344 Econometrics I 4 0 4.0
Course Hours/Week ECO363 International Trade 4 0 4.0
Course Title Credits ECO375 Lab V: Application of Econometrics I 0 4 1.0
No. Theory Lab
ECO121 Macroeconomics I 4 0 4.0 ECO385 Viva voce 0 0 1.0
MAT102 Mathematics II 2 0 2.0 ECO395 Seminar V 0 2 1.0
BAN104 Principles of Accounting 3 0 3.0 Total 15 6 19.0
STA104 Introductory Statistics 3 0 3.0
SOC101c Principles of Sociology 3 0 3.0 Third Year: Semester II
Lab II: Application of Mathematics in Course Hours/Week
ECO172 0 4 2.0 Course Title Credits
Economics II No. Theory Lab
ECO182 Viva Voce 0 0 1.0 ECO364 International Finance 4 0 4.0
ECO192 Seminar II 0 2 1.0 Bangladesh Economy: History & Some
ECO365 4 0 4.0
Total 12 6 19.0 Contemporary Issues
ECO362 Environment and Energy Economics 4 0 4.0
Second Year: Semester I MAT302 Mathematics III 3 0 3.0
Course Hours/Week Lab VI: Application to Mathematics in
Course Title Credits ECO376 0 4 2.0
No. Theory Lab Economics III
ECO212 Microeconomics II 4 0 4.0 ECO386 Viva Voce 0 0 1.0
ECO241 Banking and Financial Institutions 4 0 4.0 ECO396 Seminar VI 0 2 1.0
ECO242 Agricultural Economics 4 0 4.0 Total 15 6 19.0
STA106 Statistics I 3 0 3.0
Fourth Year: Semester I 1. Exploring Subject Matter of Economics: Economics – Definition and Scope;
Course Hours/Week understanding economic principles; economic resources-allocation and distribution
Course Title Credits problems; economic models-circular flow diagram and production possibilities
No. Theory Lab
ECO413 Microeconomics III 4 0 4.0 frontier, concept of opportunity cost.
ECO445 Econometrics II 4 0 4.0 2. The Market Forces – Demand and Supply: (a) Demand and Supply – laws,
Contemporary Issues in Economic determinants, schedules and curves, changes, aggregation; (b) Market equilibrium –
ECO432 4 0 4.0 Equilibrium analysis, Impact of different changes, Market failure, Government
Development
MAT401 Mathematics IV 3 0 3.0 policies; (c) Elasticity – Price elasticity of demand (and supply) and its
ECO477 Lab VII: Application of Econometrics II 0 4 2.0 determinants, income and cross elasticity, elastic and inelastic demand/supply
curves, elasticity and revenue; (d) Welfare – consumer surplus, producer surplus
ECO487 Viva voce 0 0 1.0
and the efficiency of the market.
ECO497 Seminar VII 0 2 1.0
3. Consumer Behavior: (a) Total and marginal utilities, law of diminishing
Total 15 6 19.0
marginal utility, cardinal and ordinal utilities; (b) Consumer optimum in cardinal
approach; (c) Consumer optimum in ordinal approach – Indifference curve analysis,
Fourth Year: Semester II Budget constraint, Consumer equilibrium, Price effect.
Course Hours/Week 4. Production and Cost: (a) Production functions – Total, average & marginal
Course Title Credits
No. Theory Lab production, short run production functions, law of diminishing returns, optimum
ECO423 Macroeconomics III 4 0 4.0 stage of production, long run production functions and returns to scale; (b) Cost
ECO445 Research Methodology 4 0 4.0 functions – Different definitions of costs, total, average and marginal cost functions,
ECO414 Industrial Organization 4 0 4.0 short and long run cost functions; (c) Long run production decision and existence of
ECO478 Lab VIII: Field Work for Research 0 4 2.0 duality;
ECO488 Viva Voce 0 0 1.0 4. Introduction to Market Structure: a. Definitions and characteristics of different
ECO498 Seminar VIII 0 2 2.0 markets, b) Perfect Competition – Assumptions, revenue and cost curves, short run
Total 16 6 17.0 optimum, profit, short run supply curve, shut down, long run optimum, profit and
Grand Total 146 supply curve, market supply. c) Monopoly – Characteristics and sources of
monopoly, production and pricing decisions of monopoly, short run and long run
equilibrium in a monopoly market, (c) Monopolistic competition. (d) Oligopoly.
Major Courses
VIVA-VOCE Recommended Books:
At the end of each semester throughout the degree program every student will be 1. Arleen J. Hoag and John H. Hoag (2006) “Introductory economics”, 4th
required to appear at a viva-voce examination on all the courses taken during the ed.
year. 2. Mankiw, N G (2012): Principles of Economics, Thomson South Western
Publishing, Sixth Edition
Course Course Title Semester Credits 3. Michael Parkin, Melanie Powell and Kent Matthews (2005),
ECO181 VIVA VOCE First Year First 1.0 “Economics”, 6th ed.
ECO182 VIVA VOCE First Year Second 1.0 4. Arnold, R A (2014): Economics, South Western Publishing Company,
ECO283 VIVA VOCE Second Year First 1.0 Eleventh Edition
ECO284 VIVA VOCE Second Year Second 1.0 5. Dominick Salvatore (2007): Microeconomics-Theory and Applications,
Oxford University Press, Fourth Edition.
ECO385 VIVA VOCE Third Year First 1.0
6. Hall, Robert E. and Lieberman, Marc (2007) : Economics, Principles and
ECO386 VIVA VOCE Third Year Second 1.0
Applications, South-Western College Pub, Fourth edition
ECO487 VIVA VOCE Fourth Year First 1.0
7. Browning, E K and M A Zupan (2006): Microeconomics – Theory and
ECO488 VIVA VOCE Fourth Year Second 1.0 Applications, Ninth Edition
8. Hirschleifer J, H David and G Amihai (2005): Price Theory and
ECO111 MICROECONOMICS I Applications: Decisions Markets and Information, Sixth edition
4 Hours/week, 4 Credits Chambridge University Press, UK
9. Koutsoyiannis A (2003): Modern Microeconomics, Palgrave Macmillan,
ECO111 Microeconomics I Second Revised Edition
4 Hours/week, 4 Credits
 10. Stiglitz, J E and C E Walsh (2005): Principles of Microeconomics, W, W
Norton and Co Inc. USA
11. Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn (2012),
Microeconomics, Nineteenth Ed.
ECO171 LAB1: APPLICATION OF MATHEMATICS IN ECONOMICS I
4 Hours/week, 2 Credits
1. Introduction to Excel/Access: Basic operations of Excel/Access
2. Functions in Economics: Functional form and graphical representation (with the
help of Excels) of different types of functions like constant, polynomial, inverse,
exponential and logarithmic functions.
2. Applications of equilibrium in market: Solving numerical problems related to
market equilibrium, using Excel to calculate equilibrium status of variables using
respective equations and draw different curves to show the equilibrium.
3. Applications of calculus (derivatives) in economics: (a) graphical
representation & (b) optimization problems focusing – production, cost, revenue,
profit and demand functions with their total, average and marginal concepts.
Evaluation Criterion: 50% of the GPA will be determined by a written test along
with an oral examination counting for 40%, while the rest 10% depends on class
room performance & attendance.
Recommended Books:
1. Kurt Jechlitschka, Dieter Kirschke and Gerald Schwarz (2007):
Microeconomics Using Excel, Routledge
2. Humberto Barreto (2009): Intermediate Microeconomics with Microsoft Excel,
Cambridge University Press.
3. Mosini, V. (2007) ed.: Equilibrium in Economics, Routledge
4. Chiang, A C and K Wainwrite (2005): Fundamental Methods of Mathematical
Economics, McGraw-Hill, USA, Fourth Edition.
5. Simon, C P and L Blume (2006): Mathematics for Economists, Viva
Books Limited, India
6. Yamane, Taro (1968): Mathematics for Economists – an Elementary
Survey, Prentice Hall India (Reprint, 2007)
7. Frank Werner and Yuri N. Sotskov (2006), Mathematics of Economics
and Business, Routledge
ECO191 SEMINAR I
2 Hours/week, 1 Credits
Reading & Relating: Journal type - Student groups will collect articles, news,
features, etc. in the field of Economics from daily, weekly or monthly newspapers
and will prepare a gist of a particular topic. Each student will be judged based on
reported gist and presentation that should portray his/her depth of reading and level
of understanding.
ECO121 MACROECONOMICS I
4 Hours/week, 4 Credits
1. Introduction to Macroeconomics: Brief History of the Birth of
Macroeconomics; Construction of Macroeconomics using Circular Flow Model—
The Second Basic Model of Economics; Key Macroeconomic Performance
Indicators (growth rate, inflation rate & unemployment rate); Introduction to Key
Macro Schools-Classical, Keynesian & Monetarist; Types &Objectives of
Macroeconomic Policies.
2. National Income Accounting: GNP& GDP; Product, Income & Expenditure
Methods of GDP Measurement& their Shortcomings; NI and Personal disposable
income; Real vs. Nominal GDP; Price Indices—GDP Deflator, CPI & WPI
measurements & distinctions.
3. National Income Determination: Components of aggregate demand and planned
expenditure; Consumption function, Saving & Investment Function, Government &
External Sector functions; Leakages & Injections; Equilibrium Output& Multiplier;
the Paradox of Thrift.
4. Aggregate Demand & Supply Curves and Macroeconomic Equilibrium:
Aggregate Demand Curve-Definition, Shape & Why it is sloping downward;
Aggregate Supply Curve-Definition, Short run vs. Long run Shapes & Why SAS is
sloping upward but LAS is vertical; Macroeconomic Equilibrium using AD-AS;
Business Cycle.
5. Inflation and Unemployment: Definitions & Types of Inflation; Causes of
Inflation: Demand pull and Cost push inflation with AD-AS framework; Benefit
&Costs of Inflation; Unemployment– definitions and Types; Costs & Remedies of
Unemployment.
6. Money: Definition and Functions of money; Motives of money demand;
Components of Money Supply; Commercial banks and their functions; Money
Creation Process of Commercial banks & Money Multiplier.
7. Central Banking & Monetary Policy: Central Bank & its functions; Monetary
Policy-Definitions, Objectives, Types (expansionary vs. contractionary) &
Instruments-open market operation, discount rate and required reserve ratio in
details.
8. Budget and Fiscal Policy: Budget; Types of Taxation; Objectives and
instruments of Fiscal policy; Balanced Budget vs. Automatic Stabilization
Multiplier, Public Debt.
Recommended Books:
1.Andrew B. Abel, Ben S. Bernanke, and Dean Crushore (2009):
Macroeconomics, 9th Edition.
2. Stephen D. Wiliamson (2014): Macroeconomics, Fifth Edition
3. Dirk Kruiger (2010): Intermediate Macroeconomics.
4. Arnold, R A (2014): Economics, South Western Publishing Company, 11th
Edition.
5. Dornbusch, Rudiger et al (2011): Macroeconomics, McGraw-Hill
International, 11th Edition.
6. Mankiw, N G (2012): Principles of Economics, Thomson South Western
Publishing, 6th Edition.
7. Frederic S. Mishkin (2012), Macroeconomics: Policy and Practice, Pearson
Education, 2nd Edition.
8. Karl E. Case, Ray C. Fair, Sharon M. Oster (2012), Principles of
Macroeconomics, Pearson, 10th Edition.
ECO172 Lab II: APPLICATION OF MATHEMATICS IN ECONOMICS II
4 Hours/week, 2 Credits
1. Applications of Linear Algebra in Economics: (a) Concepts of vectors and
matrices, vector operations-addition, subtraction and multiplication, linear
dependence and independence of vectors; matrix operations-addition, subtraction
and multiplication, unit or identity matrix, scalar matrix, diagonal matrix,
transposition, rank of a matrix, partitioned matrix, determinations, properties of
determinants, inverse matrix, properties of inverse matrices. (b) Solution of
simultaneous equations- Gaussian and Gauss-Jordan elimination method, Cramer's
rule, linear dependence, rank and the solution of homogeneous equations,
characteristic roots and vectors, quadratic form and definite matrices.
2. Applications of Integral Calculus in Economics: Applications of converting
marginal to total functions, investment and capital formation, consumer and
producer surplus.
3. Applications of Concave, Convex, homogeneous and homothetic functions in
Economics: Concavity, convexity, quasi concavity and quasi convexity of
functions, Homogeneous and homothetic functions.
4. Applications of Optimization Problem in Economics: Structure of an
optimization problem, conditions for existence and uniqueness of solutions, for local
and global optimum, for interior and boundary optima, Solutions of constrained and
unconstrained optimization problems, Kuhn-Tucker formulation, Envelope
Theorems-constrained and unconstrained.
5. Introduction to MatLab: Solving Linear Algebra, Simultaneous equation, Limit,
Calculus (differentiation and integration), optimization problem etc.
Evaluation Criterion: 50% of the GPA will be determined by a written test along
with an oral examination counting for 40%, while the rest 10% depends on class
room performance & attendance.
Recommended Books:
1. Chiang, A C and K Wainwrite (2005): Fundamental Methods of Mathematical
Economics, McGraw-Hill, USA, Fourth Edition.
2. Simon, C P and L Blume (2006): Mathematics for Economists, Viva
Books Limited, India
3. Yamane, Taro (1968): Mathematics for Economists – an Elementary
Survey, Prentice Hall India (Reprint, 2007)
4. Favio Canova (): Methods for Applied Macroeconomics Research
5. FrankWerner and Yuri N. Sotskov (2006), Mathematics of Economics and
Business, Routledge
ECO192 SEMINAR II
2 Hours/week, 1.0 credit
Searching, Reading & Relating: Journal type: Student groups will select at least
two particular topics in the field of economics and then use internet for necessary
follow ups. Each student has to produce a brief on at least one topic explicitly
referring respective web addresses and will be interviewed individually to show
his/her strength in understanding different economic relationships.
ECO212 MICROECONOMICS II
4 Hours/week, 4 Credits
1. Theory of Consumer Behavior: (a) Laws of preference, the nature of utility
functions and indifference curves, utility maximization, ordinary and compensated
demand functions, the Slutsky equation – substitutes and complements, Price
consumption curve, Income consumption curve, inferior and Giffen goods, separable
and additive utility function; homogeneous and homothetic utility functions. (b)
Consumer surplus – Definition, change in consumer surplus, quasilinear utility,
compensating and equivalent variation, producer surplus, Benefit-cost analysis,
Gains and losses. (c) Revealed preference – relationship between preference and
revealed preference, weak and strong axioms, integrability, composite commodity
theorem, price indices.
2. Theory of Firm: a) Basic concepts: the production function, isoquant, shape of
production function, b) Optimizing behavior for single and joint production (b)
Cobb - Douglas and CES production functions; elasticity of substitution; Euler’s
theorem and its properties; Isocost line and Producers’ Equilibrium vis-a-vis Cost
Minimization.
3. Theory of Games: Two person constant sum and non-constant sum games, pure
and mixed strategies, cooperative games, dominant strategy, Nash equilibrium,
Prisoner’s dilemma, repeated and sequential games.
4. Factor/Input Markets: Firms demand for variable factor(s), industry demand for
factors, monopsony, and resource supply to the market and factor market
equilibrium, monopolies and cartels in factor supply.
Recommended Books:
1. Varian, H R (2010): Intermediate Microeconomics – A Modern Approach,
W.W. Norton and Company Inc, Eight Edition
2. Walter Nicholson and Christopher Snyder (2010): Intermediate
Microeconomics and Its Application South Western Cengage Learning,
Eleventh Edition
3. Henderson, J M and R E Quandt (1980): Microeconomic Theory: A
mathematical Approach, McGraw-Hill, Third edition
4. Gibbson, R (1992): Game Theory for Applied Economists, Princeton
University Press
5. Owen, Guillermo (2001): Game Theory, Elsevier, Third Edition
6. Hirschleifer J, H David and G Amihai (2005): Price Theory and Applications:
Decisions, Markets and Information, Sixth edition Cambridge University Press
UK
7. Pindyck, R S and D L Rubinfeld (2005): Microeconomics, Prentice-Hall India,
Sixth edition
8. Gravelle, Hugs and Ray, Rees (2004): Microeconomics, Trans - Atlantic
Publication, USA
ECO241 BANKING AND FINANCIAL INSTITUTIONS
4 Hours/week, 4 Credits
1. An overview of the financial system: Financial system; traditional and Islamic,
Function of financial markets, Structure of the financial markets, Function of the
financial intermediaries, Regulation of the financial system.
2. Banking operations: Liquidity and treasury management through OMOs, money
creation through money supply process, multiple deposit creation and channeling
savings into investment, providing loan to business and consumers, corporate
finance consumer loans, credit cards and real estate lending, lease finance and
investment banking, international banking services, off-shore banking, interest rate
determination.
3. Evaluating the performance of Fls: Efficiency, location and size of Financial
Institutions (Fls), Operating cost, efficiency and performance, maximizing the value of the
firm, profitability ratios, ROE, ROA, measuring risk in banking and financial services,
credit ratings, financial ratios and other tools to track bank performance, concepts of risk
management.
5. The Behavior of Interest Rates: Determinant of asset demand, Supply and
demand in the bond market, changes in the equilibrium interest rate, Supply and
Demand in the Market for Money: The Liquidity preference Framework; Bond
Prices and Yield to Maturity, Risk and Term Structure of Interest Rates.
5. Capital Market: Equity instruments-Stocks, Shares and Debentures; Common shares,
Preferred shares, Private equity, Global shares; Primary equity market, IPO, Secondary
equity market-Biding, Placing order, Margin trading, Short selling; Organized exchanges-
DSE, CSE, Over-the-counter (OTC) market; Stock trading regulations and SEC; Bubbles,
Bulls and Bears; Stock Valuation, EPS and Market Indexes; Cash Divided vs. Bonus
Share Policies.
6. Insurance Market: Insurance and its role in Risk Management; Different Classes of
Insurance –General, life and non-life insurance, group insurance; Role of Regulators –
BIDRA; Insurance Contract: Principles and Terms of an insurance contract, Policy
documents, Fixing of Premiums and Different factors considered in calculating premium;
Premium payment, policy lapse and revival; Assignment, Nomination and Surrender of
policy; policy claims.
7. a) Islamic Banking: Islamic banking, conventional and Islamic Banking, Theoretical
Structure: Two-Tier Silent Partnership, Deposits vs. Loans: Trust and Guaranty, six key
Islamic banking principles, origins of asymmetric risk within Islamic banking, Riba in
Quran and Sunnah, reasons for prohibiting of Riba. b) Islamic finance: basic models of
Islamic finance- Mudaraba, Musharaka, Isara, Istisna’a, Salam’s definition, practicalities,
Sharia’a rules, benefits of and problem associated with.
Recommended Books:
1. Rose, P S and S C Hudgins (2005): Bank Management and Financial
Services, McGraw-Hill, USA Sixth Edition.
2. Mishkin, F S (2003): The Economics of Money, Banking and Financial
Markets, The Addison Wesley Economics Series, Seventh Edition,
3. Rose, P S (2003): Money and Capital Markets: The Financial Institution and
Instruments in a Global Market Place, McGraw-Hill/Irwin, Eighth Edition
4. Hull, J C (2005): Options, Futures and Other Derivatives, Prentice-Hall
international Inc. Sixth Edition
5. Kettell, B. (2011). Introduction to Islamic banking and finance (Vol. 1).
John Wiley & Sons.
ECO273 LAB III: APPLICATION OF STATISTICS IN ECONOMICS
2 Hours/week, 1Credits
Introduction to popular statistical packages (SPSS, STATA, EVIEWS, R).
50% of the GPA will be determined by a written test along with an oral examination
counting for 40%, while the rest 10% is reserved for class room performance &
attendance.
Recommended Books:
1. A. Colin Cameron & Pravin K. Trivedi (2005): Microeconometrics –
Methods and Applications, Cambridge University Press.
2. G. Jay Kerns (2010): Introduction to Probability and Statistics Using R,
First Edition, GNU Free Documentation
License”
3. Robert H. Shumway and David S. Stoffer (2006): Time Series Analysis
and Its Applications With R Examples, Second Edition, Springer
4. G. C. Lim and Paul D. McNelis (2008): Computational Macroeconomics
for the Open Economy, The MIT Press, Cambridge, Massachusetts
5. Favio Canova (): Methods for Applied Macroeconomics Research
6. Ray C. Fair (1994): Testing Macroeconometric Models, Harvard
University Press, Cambridge, Massachusetts, London, England
ECO293 SEMINAR III
2 Hours/week, 1.0 credit
Reading & Reviewing Paper on Microeconomics: Student groups will select at
least two particular topics in the field of microeconomics, search references and
prepare a synopsis on at least one topic with a rich reference list. Each group will be
evaluated based on their synopsis presented and their understanding of the subject
matter.
ECO222 MACROECONOMICS II
4 Hours/week, 4 Credits
1. IS-LM Model of Macro Markets Equilibrium: Goods Market and IS Curve-
Definition, Derivation and Determinants; Assets Market And LM Curve-Definition,
Derivation and Determinants; Equilibrium in Goods & Assets Markets; Monetary
Policy Multiplier & Fiscal Policy Multiplier.
2. Aggregate Demand & Supply in Macro Applications: Derivation of Aggregate
Demand Curve from IS-LM Model; Neo-Classical Model and Its Amendments,
Sticky Wages, Derivation of Aggregate Supply Curve from Aggregate Production
Function; Effects of Monetary Expansion, Supply Shocks, Expansions, Crowding
Out& Contracts.
3. Consumption Demand: Keynesian Consumption Theory, Kuznet’s puzzle,
Relative Income, Lfe-cycle and Permanent income hypothesis.
4. Investment Spending: Residential Investment; Inventory Investment; Business
Fixed Investment. Keynesian Discounting Procedures, Simple Acceleration And
Flexible Acceleration Principle.
5. Macro Policies & Open Economy under IS-LM Model: Keynesian vs.
Classical View on the Effectives of Monetary & Fiscal Policies & Policy Mix;
Balance of Payments and Exchange Rates; The Mundell-Fleming Model under IS-
LM Model- Imperfect vs. Perfect Capital Mobility Under Fixed And Flexible
Exchange Rates.
6. Theories of Money Demand: Classical Quantify Theory of Money-Fisherian
Approach, Cambridge Cash Balance Approach, Keynesian Approach, Monetarist
View of Asset Demand; Baumol's Inventory Theoretic Approach, Tobin's Portfolio
Theory.
7. Money Market Equilibrium: The Money Supply Process, Determinants of
Money Supply, Money Demand & Supply Curves; Equilibrium in the Money
Market, Liquidity Trap.
8. Inflation and Unemployment: Classical and Keynesian theory of inflation,
monetarist view of inflation, unemployment inflation-unemployment trade off-
Phillips Curve-Short run vs. Long run.
Recommended Books:
1. Andrew B. Abel, Ben S. Bernanke, and Dean Crushore (2009): Macroeconomics
2. Stephen D. Wiliamson (2014): Macroeconomics, Fifth Edition
3. Branson, W H (1989): Macroeconomic Theory and Policy, Second Edition
4. Dornbusch, Rudiger et al (2011): Macroeconomics, McGraw-Hill International,
Eleventh Edition
5. Froyen, R T: Macroeconomics: Theories and Policies
6. Hall, R E and J B Taylor (1988): Macroeconomics: Theory, Performance &
Policy, Norton, Second Edition
7. Mankiw (2008): Macroeconomics
ECO242 AGRICULTURAL ECONOMICS
4 Hours/week, 4 Credits
1. Structure and Characteristics of Agriculture in LDCs: a. Traditional
Agriculture: Resource Structure and Labor Reward System, Labor Market Dualism,
Access to Information and Technological Choice; b. Access to Non-labor Resources
c) Farming Environment.
2. Role of Agriculture in Economic Development: a. Product Contribution: Food
Contribution, Food Supplies and Inflation, Raw Materials Contribution, Production
Linkages between Agriculture and Other Industries; b. Market Contribution; c.
Factor Contribution: Capital Contribution, Labor Contribution (the turning point in
the growth of the agricultural labor force, transfer of labor from agriculture to
industry and disguised unemployment, Sen’s model); d. Foreign Exchange
Contribution; e. Estimation of the Labor Force Growth.
3. Economics of Agricultural Production: a. Physical and Economic
Relationships: factor-product, factor-factor, product-product; b. Technical,
Allocative and Economic Efficiency of Resource Use; c. Farm Size and Factor
Productivity.
4. Land Tenure and Land Reform
5. Agricultural Marketing and Price Policy: Cobweb Model, Perverse Supply
Response in Backward Agriculture, Concept of Agricultural Surplus, Marketing of
Agricultural Products, Structure and Functions of Agricultural Markets, Marketing
Margins and Farm Prices, Role of Government in Marketing Agricultural Products.
6. Food and Agricultural Policy: Nature and Principles of Policy, Analyzing the
Effects of Policy Instruments: Production Subsidy, Input Subsidy and Food Subsidy,
the Effects of Agricultural Policy.
7. Food Security: Basic Concepts of Food Security; Analytical Approaches; Factor
Affecting Food Security; Poverty, Food Security and Vulnerability, Measurment and
Empirical Evidence.
8. Overview of Bangladesh Agriculture: Production, Procurement of Food Grains,
and distribution, cultivation and use of technology usages and agricultural
transformation, Productivity and efficiency.
Recommended Books:
1. SubrataGhatak and Ken Ingersent (1984): Agriculture and Economic
Development (Chap. 1, 2, 4, 6, 7 and 8)
2. David Colman and Trevor Young (1989): Principles of Agricultural
Economics (Chap 2, 4, 8, 12)
3. H. Evan Drummond and John w. Goodwin (2004): Agricultural
Economics ( Chap 12, Appendix 2)
4. Frank Ellis (1988): Peasant Economics Farm Households and Agrarian
Development (Chap 10)
5. Bardhan, P.K. (1980). Size, Productivity and Returns to Scale: An
Analysis of Farm Level Data in Indian Agriculture. Journal of Political
Economy. Vol. 18. pp. 1370-86.
6. Barbier, P. (1984): Inverse relationship between farm size and land
productivity: a product of science and imagination? Economic and
Political Weekly, Vol. XIX, No. 52 and 53.
7. Ritson, C. (1973): A Framework for analyzing the contribution of the
agricultural sector to economic development, Journal of Agricultural
Economics, XXIV (1).
8. Todaro, M. (1969): ‘A model of labor migration and urban development in
less developed countries’, American Economic Review, pp. 138-148
9. Lewis, W.A. (1954): ‘Economic Development with Unlimited Supply of
Labor’, Manchester School.
10. Ahmed, I. (1978): ‘Todaro, M. (1969): ‘Unemployment and
Underemployment in Bangladesh Agriculture’, World Development, 6
(11/12).
11. Debraj Ray (1998): Development Economics, Oxford University Press
(chap 12& 14)
12. Professor Mohan J. Rao (2006): Food SecuirtyMannual
13. Bangladesh Economic Review 2015, Ministry of Finance, Government of
Bangladesh.
ECO243 ECONOMICS OF PLANNING AND PROJECT ANALYSIS
4 Hours/week, 4 Credits
Chapter 1: Introduction to Planning & Project Analysis
Definition and basic concepts of planning and projects, project development life
cycle, analytical principles of development projects, project feasibility study and
related matters; project analysis versus policy analysis; planning machinery in
Bangladesh.
 Chapter 2: Neo-classical Theory of Public Sector Projects
Neo-classical theory of the public sector, economic efficiency, market failure,
government failure and their relationship with project planning.
Chapter 3: Shadow Pricing & Economic Valuation of Project Items
Financial value vs. economic value, shadow pricing, willingness to pay numeraire
and foreign exchange numeraire approaches to economic value determination of
project inputs and outputs; conversion factor and their application.
Chapter 4: Time Value of Money and Project Financial Investment Criteria
Basic concept of discounted versus discounted cash flow, net present value, internal
rate of return, benefit-cost ratio, payback period and accounting rate of return.
Chapter 5: Social Cost Benefit Analysis
Financial versus economic versus social CBA; conducting cost benefit analysis;
strategic approach to cost benefit analysis; environmental consideration of cost
benefit analysis.
Recommended Books:
1.Harberger (2002). Cost Benefit Analysis for Investment Decisions.
2. Giltirger (1982) Economic Analysis of Agricultural Projects.
3. Asian Development Bank (2013). Cost-benefit analysis for development: A
practical guide.
4. Chondra P. (2006). Project: Planning, Analysis, Financing, Implementation
and Review, Chapter1.
5. Arnold C. Harberger, (2002), Cost Benefit Analysis for Investment
Decisions‖, University of California, Los angeles, USA and Glenn P. Jekkins,
Queens University, Canada, 2002.
6. Rashid M. H. (). Development Planning in Bangladesh. Economic Relations
Division (ERD), GOB.
7. Ward W. A, Deren & D’Silva (1991). Economics of project analysis A
practitioner’s guide. World Bank Institute; pp1-21.
8. McConnell (2015), Microeconomics, 20th Edition, pp 270-272.
9. Ward W. A, Deren & D’Silva (1991). Economics of project analysis A
practitioner’s guide. World Bank Institute; pp22-31 & 50-64.
10. Brent R. (2006). Applied cost–benefit analysis; 2nd Edition, Chapter 4:
Shadow prices, pp109-141.
11. Asian Development Bank (1997). Guidelines for Economic Analysis of
Projects.
12. Mian (2011). Project Economics and Decision Analysis, 2nd Edition; vol II.
13. USAID (2010). USAID/India REFORM Project Compendium with
Practitioners’ Guide; vol V.
14. Arnold Glen (2005). Handbook of Corporate Finance; Chapters 1-3, pp1-71.
ECO261 PUBLIC FINANCE
4 Hours/week, 4 Credits
1. Introduction: Role of government in a mixed economy, positive vs. normative
view in economics, need for public finance and private finance, central and local
government finance, public sector in national income accounting.
2. Theory of public goods: Concept of public goods ,pure and impure public goods,
Efficient provision of public goods, publicly provided private goods, optimal
provision of a public goods-partial equilibrium and general equilibrium analysis,
Wicksell and Lindahl’s model, mixed goods, externalities-nature of externalities,
private and public solution to externalities; merit goods.
3. Government expenditure: Structure and growth, causes of public expenditure
growth, Wagner's Law of Increasing State Activity, The Peacock-Wiseman
Hypothesis, incidence and effects of public expenditure-efficiency and distribution,
causes and effects of some indirect government program such as education, health
care, defense social insurance etc. negative income tax, government expenditure in
Bangladesh.
4. Different Kinds and Choice of Taxes: proportional, progressive and regressive
taxation, direct and indirect tax; income tax, excise tax, corporation income tax and
expenditure tax.
5. Incidence and Efficiency of Taxation: Concepts of incidence, partial
equilibrium analysis of incidence, general equilibrium analysis of incidence, effects
of taxation on consumption & savings, on work effort etc. concept of excess burden
of taxation.
6.Government Budgeting: a) Budget: concepts and implications of balanced and
unbalanced budget, budget and development plans, analysis of the recent
Bangladesh budget b) Government Revenue: revenue sources of government,
objectives of taxation, characteristics of a good taxation system, principle of
taxation-benefit principle, ability to pay principle c) Taxation in Bangladesh:
Structure and growth, incidence and effects, tax burden & VAT.
7. Public debt: Reasons for public debt, burden of public debt, shifting of burden to
future generations, repayment, Recardian equivalence theorem, role of public debt.
8. Public Choice: Direct democracy: Unanimity rules, Majority voting rules,
Logrolling, The median voter theorem, Arrow’s impossibility theorem.
Prescribed Text:
1. Harvey, S Rosen (2016):Public Finance, McGraw-Hill International,10th edition
2. Herber, B P(1999): Modern Public Finance, 5th edition
3. Hyman, D N(2010): Public Finance,5th edition
4. Musgrave, R A and Musgrave, P B(1989): Public Finance in theory and
Practice,5th edition
5. Stiglitz, J E (2015): Economics of Public Sector, Norton & Company, 4th edition.
ECO274 LAB IV: APPLICATION OF STATISTICAL SOFTWARES IN
ECONOMICS
2 Hours/week, 1Credits
Application of popular statistical packages (SPSS, STATA, EVIEWS, R) in
economics.
50% of the GPA will be determined by a written test along with an oral examination
counting for 40%, while the rest 10% is reserved for class room performance &
attendance.
Recommended Books:
1. A. Colin Cameron & Pravin K. Trivedi (2005): Microeconometrics –
Methods and Applications, Cambridge University Press.
2. G. Jay Kerns (2010): Introduction to Probability and Statistics Using R,
First Edition, GNU Free Documentation
License”
 3. Robert H. Shumway and David S. Stoffer (2006): Time Series Analysis
and Its Applications With R Examples, Second Edition, Springer
4. G. C. Lim and Paul D. McNelis (2008): Computational Macroeconomics
for the Open Economy, The MIT Press, Cambridge, Massachusetts
5. Favio Canova (): Methods for Applied Macroeconomics Research
6. Ray C. Fair (1994): Testing Macroeconometric Models, Harvard
University Press, Cambridge, Massachusetts, London, England
ECO294 SEMINAR IV
2 Hours/week, 1.0 credit
Reading & Reviewing Paper on Macroeconomics: Student groups will select at
least two particular topics in the field of macroeconomics, search references and
prepare a synopsis on at least one topic with a rich reference list. Each group will be
evaluated based on their synopsis presented and their understanding of the subject
matter.
ECO331 THEORIES IN ECONOMICS OF DEVELOPMENT
4 Hours/week, 4 Credits
1. The Meaning of Development: Interactions Between “New” and “Old” Ideas -
--- Growth and Development in historical context; Development as structural
change; Development as modernization and its critic; Development and
political change; decentralization and participation; Redistribution and basic
needs; Development as human development; sustainable Development; an ethic
of Development.
Idea gaps and object gaps of Economic Development: the rise of price taking
and the fall of ideas; high development theory; technology and development
2. Theories of Development: (a)Schumpeter, Rostow; (b)Theories of Dual
Economy: Lewis, Fei-Ranis, Social Dualism, Technological Dualism and
Financial Dualism, (c)Modernization School: The O-ring theory of economic
Development; Theory of Big Push, Leibenstein’s Critical Minimum Effort,
Rosenstein-Rodan, Hirschman, Myrdal
3. Politics and Society in the Third World: Marxist theory of imperialism:
Marx, Lenin, and G. Kay,
4. Dependency Theory and The World System Analysis: Debate between
development school and underdevelopment school: Baran; Sweezy Frank;
Wallerstien; Emmanuel, Samir Amin; Hamza Alavi.
5. Migration and Development: a) Definition of migration and trafficking:
Immigrant and migratory population (i.e.: refugees, asylums, migrants and
immigrants) Causes of migration, b) Theories on Migration: Neo Classical
Equilibrium theory, Structural historical theory, social network theory, migration
system theory, integrated theory. C) Process of Migration: Mode of remittance,
Consequences of migration, migration and health.
Recommended Books:
1. Basu, Kaushhik (2003): Analytical Development Economics – The Less
Developed Economy Revisited, MIT press USA
2. Meier, G M and J E Stiglitz (2001): Frontiers in Development Economics – The
future perspective, Oxford University Press, UK
3. Meier, G M (1989): Leading Issues in Economic Development, Oxford
University Press, UK, Fifth Edition
4. Misra, S K and V K Puri (2005): Economics of Development and Planning,
Seventh Edition
5. Ray, Debraj (1998): Development Economics, Oxford and Princeton University
Press
6. Thirlwall, A P (2006): Growth and Development – With Special Reference to
Developing Countries, Palgrave Macmillan, Eighth Edition
7. Todaro, M P and S C Smith (2012): Economics of Development in the Third
World, Longman, Eleventh Edition
8. James M. Cypher and James L. Dietz(2009), The process of economic
development, Third Edition
9. Angus Deaton ,(),The Analysis of Household Surveys: A
Microeconometric Approach to Development Policy,
10. John Strauss, Inderjit Singh, Lyn Squire (1986) Agricultural Household
Models: Extensions, Applications, and Policy.
11. Haas, H.D. (2008). Migration and Development: A Theoretical
Perspective.
12. Barbara Ingham (1993), The Meaning of Development: Interactions
Between “New” and “Old” Ideas. World Development, Vol. 21, No. 11,
pp. 1803-1821, 1993
13. Paul Romer (1993). Idea gaps and object gaps of Economic Development.
Journal of Monetary Economics; 32: 543-573
ECO344 ECONOMETRICS I
4 Hours/week, 4 Credits
1. Introduction to Econometrics: Definition and scope of econometrics, economic
and econometric modeling, methodology of econometrics, application of linear
algebra and matrix operations in econometric analysis; the role of computer in
econometric analysis.
2. Linear regression model: Least squares regression: assumptions of the least
squares regression, finite and asymptotic properties of least squares estimator:
Gauss-Markov theorem, normality assumptions, consistency and efficiency of least
squares estimators, goodness of fit and the analysis of variance (ANOVA);
maximum likelihood estimation (MLE), properties of MLEs.
3. Hypothesis tests and model selection: Test of hypothesis: restricted vs. non-
restricted regression, Neyman-Pearson methodology; point and interval estimations;
Two approaches to testing hypothesis: confidence interval approach, test of significance
approach, prediction and forecasting: prediction interval, prediction variance, Chow
test for parameter constancy; measurement error and specification tests, instrumental
variable (IV) estimation; model selection criteria.
4. Multicollinearity: The nature of multicollinearity, estimation in the presence of
multicollinearity, detection of multicollinearity and its remedial measures.
5. Heteroscedasticity: The nature of heteroscedasticity, consequence of using OLS
in the presence of heteroscedastic disturbances, detection of heteroscedasticity and
its remedial measures, the method of weighted least squares (WLS).
6. Autocorrelation: The nature of the problem of autocorrelation, consequence of
using OLS in the presence of autocorrelated disturbances, detection of
autocorrelation and its remedial measures, the method of generalized last squares
(GLS).
7. Model specification and diagnosis: Specification errors: consequences and
detection, errors of measurement, model selection criteria: R2 criterion, AIC and
BIC, Ramsey’s RESET test.
Recommended Books:
1. R. Carter Hill, William E. Griffiths, and Guay C. Lim (2008): Principles
of Econometrics, John Wiley and Sons, Inc., 3rd Edition
2. Peter B. Kennedy (2003): A Guide to Econometrics, The MIT Press, Fifth
Edition.
3. Johnston J and John DiNardo (1997): Econometric Methods, fourth
edition, .McGraw Hill, New York, USA
4. Maddala, G. S. (2005): Introduction to Econometrics, John Wiley and
Sons, third edition. New York, USA
5. Wooldridge, J. M. (2008): Introductory Econometrics-A Modern
Approach (4th Edition), Thomson South-Western
ECO352 HISTORY OF ECONOMIC THOUGHT
4 Hours/week, 4 Credits
1. Pre-classical Economic Thought: Ancient-oriental, occidental and medieval
economic thought such as Koutilya, Greek philosophers, Mercantilists and the
Physiocrats.
2. The Classical School: Adam Smith - division of labour, theory of wages, profit
and interest, principles of taxation, David Ricardo - theory of rent, taxation and
principle of comparative advantage, Malthus - population doctrine and its criticism,
economic ideas of John Stuart Mill.
3. Socialist Alternatives to Classical Theory: Historical school of Hegel and
Marx's scientific socialism, theory of surplus value, falling rate of profit, destruction
of capitalism, communist manifesto, Schumpeter and capitalism, developments in
Soviet economy, Chinese communism and the ideas of the Fabian society
4. The Marginal Revolution and Neoclassical Foundations: The marginal concept
and notions of optimization as found in Jevons, Menger, Neo-classical foundations
of microeconomics laid down by Marshal. The general equilibrium theories of
Walrus, Pareto and Leontief; Veblen and the development of institutional economics
5. Modern Paradigms: Keynes, General Theory, the Keynesian-Monetarist debate
and resurgence of neoclassical ideas including the supply-side economics, New
Classical and NewKeynesianSchool
Recommended Books:
1. Spiegel, Henry William: The Growth of Economic Thought, Duke University
Press, Durban, North Carolina, latest edition.
2. Roll, Eric: A History of Economic Thought, Prentice-Hall, Third edition.
3. Ekelund, R B and R F Hebert: A History of Economic Theory and Method,
McGraw-Hill, latest edition.
4. Koutilya (1992): Arthashastra, Edited by L N Rangaranjan, Penguin Publishing,
New Delhi, India, Sixth edition
5. Freedman, Robert (ed): Marx on Economics, Pelican Books
6. Giddens, Anthony (1971): Capitalism and Modern Social Theory-An Analysis
of the Writings of Karl Marx, Durkheim and Max Weber;
CambridgeUniversityPress, UK
7. Hausman D M: The Philosophy of Economics: an Anthology, Second Edition
8. Backhaus Jürgen Georg (2012), Handbook of the History of Economic
Thought, Springer.
9. Landreth, Harry & David C. Colander, History of Economic Thought
10. S. K Srivastava(1982): History of Economic Thought, Fourth Edition
11. V. Lokanathan(2001):AHistory of Economic Thought, Eighth Edition
ECO362 ENVIRONMENT AND ENERGY ECONOMICS
4 Hours/week, 4 Credits
1. Property Rights, Externalities and Environmental Problems: Environmental
problems and economic efficiency, property rights and efficient market allocation,
externalities and market failure, efficiency and the role of government.
2. Valuation of Environment: Normative criteria for decision making, Estimating
the benefits and costs of emission reductions, treatment of risk, distribution of
benefits and costs, divergence of social and private discount rates, classification of
valuation methods, environmental pollution costs, mitigation options.
3. Depletable Resource Allocation: Efficient inter-temporal allocations, market
allocations of depletable resources, Environmental costs, transition from depletable
to renewable resources, pricing the natural resources.
4. Economics of Energy Demand and Supply: Evolution of Demand and Supply
Analysis, Energy Demand Forecasting, Energy Demand Management, Economics of
Non-Renewable Resource Supply, Economics of Renewable Energy Supply
5. Energy Markets: Energy Markets and Principles of Energy Pricing, Energy
Security Issues, Investment Issues in the Energy Sector, Energy Poverty.
6. The Economics of Climate Change: Economic Approach to Control the
Greenhouse Effect, Climate Change Agreements, Clean Development Mechanism
References:
1. Tietenberg, T. H., & Lewis, L. (2016). Environmental and natural resource
economics. Routledge.
2. Energy Economics: Concepts, Issues, Markets and Governance by Subhes
C. Bhattacharyya. Publisher: Springer; 1st Edition. Edition (March 7,
2011).
3. International Energy Markets, Carol A. Dahl. Publisher: Pennwell Books
(February 2004)
4. Energy, Economics and the Environment, Third Edition (University
Casebook Series) Fred Bosselman; Joel B.Eisen; Jim Possi; David B.
Spence; Jacqueline Weaver (July 8, 2010)
5. Handbook of Natural Resource and Energy Economics, Edited By A.V.
Kneese, J. Sweeney
6. Economics And The Environment by Eban S. Goodstein, John Wiley &
Sons, Inc., 6th ed (2011)
 7. Environmental & Natural Resource Economics, by Tom Tietenberg,
Lynne Lewis., The Pearson Series in Economics, 9th ed (2012).
8. Ecological Economics : Principles And Applications, by Herman E.
Dalyand Joshua Farley, Island Press(2004)
9. Energy Economics and Financial Markets, Dorsman, André, Simpson,
John L., Westerman, Wim, Springer Berlin Heidelberg (2013).
Additional Reference:
(1) Energy Economics and Financial Markets, Dorsman, André, Simpson, John L.,
Westerman, Wim, Springer Berlin Heidelberg (2013).
Journal Articles:
Articles will be provided by course teacher (mostly from Elsevier, Springer etc)
ECO363 INTERNATIONAL TRADE
4 Hours/week, 4 Credits
A. International Trade Theory
1. Introduction: Causes of international trade, the no trade model, perspective on the
theory of international trade, the importance of international trade, the sectoral structure of
trade, trade history
2. Trade in the Global Economy: the changing pattern of world trade.
3. Trade and Technology: Adam Smith's theory of absolute advantage-Ricardo's
theory of comparative advantage, misconceptions about comparative advantage-
gains and losses from trade in the specific-factors model, derivation of offers curves,
terms of trade, various concepts of the terms and trade, the Prebisch-Singer thesis,
terms of trade and welfare.
4. Trade Resources: The Heckscher-Ohlin model - the gains from trade – Leontief
paradox - movement of labor and capital between countries- do factor prices
equalize internationally?
5. Trade Co-operation and Agreement: Preferential trade areas, trade creation and
trade diversion, free trade areas, customs union, common market and economics
union, static and dynamic effects of economic integration.
B. International Trade Policy
1. The Instruments of Trade Policy: basic tariff analysis- cost and benefits of tariff
– non tariff barriers to trade- import quota-subsidy-dumping-VER- arguments for
and against protection
2. Import Tariffs and Quotas Under Perfect Competition - Import Tariffs and
Quotas Under Imperfect Competition - export subsidies in agriculture and high
technology industries
3. Trade and Growth: balanced versus biased growth, changes in the country's
willingness to trade- effects on the country's terms of trade-immiserizing growth-
technology, trade openness and growth-FDI-outsourcing- offshoring of Goods and
Services
4. International Agreements: WTO-SAFTA-BRIC-trade blocs and trade blocks-
trade policies for developing countries.
References:
1. Robert C Feenstra and Alan M Taylor (2012): International Economics,
Second Edition.
2. Thomas A. Pugel (2007): International Economics, Thirteenth Edition
3. Paul R. Krugman and Maurice Obstfeld (2012):International Economics:
Theory and Policy, Ninth Edition
4. Chacholiades, M (1990): International Economics, McGraw-Hill
Publishing Company, USA
5. Carbaugh R J (2009): International Economics, Thomson South Western
Twelfth edition
6. Robert M. Dunn & John H. Mutti (2004): International Economics, Sixth
Edition
7. Sodersten, Bö and G Reed (1994): International Economics.
8. World Trade Report-Various Issues.
ECO364 INTERNATIONAL FINANCE
4 Hours/Week, 4 Credits
1. The Global Macroeconomy and Introductory Finance Issues: current
patterns, past history, and international institutions- government budget balances-
exchange rate regimes- trade balances - investment Positions, international business
cycles, economic ups and downs.
2. Exchange Rates: The Foreign Exchange Market: the basis of currency trading,
Fixed and floating exchange rate, International arbitrage and interest rate parity,
Exchange Rate Determination: Exchange rates in the short run, the long run:
Purchasing power parity, monetary approach, exchange rate overshooting.
3. National and International Accounting and Balance of Payments: income,
wealth, and the balance of payments (BOP) - the gains from financial globalization-
elasticity and absorption approaches to the BOP-monetary approach to the BOP.
4. Fixed, Floating and Managed Exchange Rate System: international monetary
experience-money demand shock-aggregate demand and supply shock-managed
floating.
5. Speculative Attacks and Balance of Payment Crises: Euro bond markets.
Exchange Rate Crises: how pegs work and how they break- first- and second
generation models of currency crisis, international debt crisis.
6. Topics in International Macroeconomics: Macroeconomic Policy Goals in an
Open Economy, International macroeconomic institutions- The IMF and the World
Bank - The Euro and expansion of EU- economic and monetary union in Europe-
experience to South Asian economic and monetary integration.
Recommended Text
1. Paul R. Krugman and Maurice Obstfeld (2015):International Economics: Theory
and Policy (10th Edition)
2. Feenstra and Taylor():International Economics
3.Thomas A. Pugel (2007): International Economics (Thirteenth Edition)
4. Laurence Copeland(2004): Exchange Rates and International Finance, Financial
Times/ Prentice Hall(4th Edition )
5. Keith Pilbeam (2009): International Finance(Third Edition)
6.Robert C Feenstra and Alan M Taylor (2012): International Economics(Second
Edition)
7. Steiner, Bob (2002), Foreign exchange and money markets, Butterworth-
Heinemann
ECO365 BANGLADESH ECONOMY: HISTORY & SOME
CONTEMPORARY ISSUES
4 Hours/week, 4 Credits
Topic 1: Economic History of Bangladesh: Pre-Mughal Period, Mughal Period,
British Period, Pakistan Period.
Topic 2: Contemporary Issues:
1. Macroeconomic performance of Bangladesh and Development Surprise in
Bangladesh.
2. Agriculture: Growth experience; Green revolution and its impact on production &
employment, land ownership & tenancy structure; Agriculture price & subsidy
policy and Food Security.
3. Industry: Growth experience; performance of the public enterprises; Denationalization
policy, role of small & cottage industry,. Investment and technology policy.
4. Infrastructure: Physical and socioeconomic.
5. Selected Issues, e.g.:
(a) Problems of poverty, inequality and unemployment; Micro credit program; NGO
programs.
(b) Budget analysis
(c) Corruption issues: Corruption; Corruption and Economic Growth; Strategies for
Combating Corruption; Corruption in Bangladesh.
(d) External Sector: Problems, Policy reforms, Performance.
(e) Climate change and Environmental Issues.
(f) Human resource development: plans and policies, women in development,
impact of migration, remittances, child labor.
(g)Energy Sector in Bangladesh
(h)RMG Sector
Recommended Readings:
1. BEA: Bangladesh Journal of Political Economy, Bangladesh Economic
Association (BEA), various issues
2. BIDS: Bangladesh Development Studies, Bangladesh Institute of
Development Studies (BIDS), various issues
3. GOB (1991): Report of the Task Forces on Bangladesh Economy,
Government of the People's Republic of Bangladesh
4. Hossain, Mosharraf (1992): Agriculture in Bangladesh, Problems, Policies
& Prospects, University Press Limited, Dhaka
5. Hossain, Mahbub (1989): Green Revolution in Bangladesh University
Press Limited, Dhaka
6. Jansen E G (1987): Rural Bangladesh: Competition for Scarce Resources,
Oxford University Press
7. Khan, A R (1973): The Economy of Bangladesh, Macmillan
8. Khan, A R and M Hossain (1989): The Strategy of Development in
Bangladesh, Macmillan
9. Rashid, Selim (1995): Bangladesh Economy, University Press Limited,
Dhaka
10. Sobhan, Rehman (1991): Structural Adjustment Policies in the Third
World, University Press Limited, Dhaka
11. Akhtar Hossain, Farida Khan, Tanweer Akram (2006): Economic Analysis
of Contemporary Issues in Bangladesh, UPL
12. Joarder, Mohammad Abdul Munim & Syed Hasanuzzaman (2008):
“Migration Decision from Bangladesh: Temporary versus Permanent”
Asia Europe Journal, 19.1 (2008)
13. Joarder, Mohammad Abdul Munim & Md. Saleh Uddin (2010),
“Estimating the Economic Model of Hundi (an Informal Remittance
Channel) Using Microlevel Data”, Asia Europe Journal
14. Joarder, Hossain, Hakim (2010) “Post MFA Performance of Bangladesh
Apparel Sector,” International Review of Business Research Papers. A. K.
Nazrul Hussain
15. Bangladesh Economic Review, Ministry of Finance, various issues.
16. State of the Bangladesh Economy, Centre for Policy Dialogue, various
issues.
17. Siddiqui , T., & Farah, M. (2011, December). Facing the Challenges of
Labour Migration from Bangladesh. Policy Brief (4).
18. Mushtaq H. Khan (2007)”Investment and Technology policies” UN
DESA, National Development Strategies Policy Notes.
19. Munim, J.M.A., Hakim, M.M. & Abdullah-Al-Mamun, M.(2010)
“Analysis of energy consumption and indicators of energy use in
Bangladesh” Economic Change and Restructuring 43 (4), 275-302.
ECO375 LAB V: APPLICATION OF ECONOMETRICS I
2 Hours/week, 1 Credits
1. Field work and/or Statistical Analysis
2. Reporting
The course teacher will determine the field work. Students will be required to submit
assignments as required by the course teacher, which will carry out 40% of the total
marks. Students are also required to attend an oral examination carrying 50% of the
total marks and the rest 10% will be reserved for performance in the field or lab.
Recommended Books:
1. A. Colin Cameron & Pravin K. Trivedi (2005): Microeconometrics –
Methods and Applications, Cambridge University Press.
2. G. Jay Kerns (2010): Introduction to Probability and Statistics Using R,
First Edition, GNU Free Documentation
License”
3. Robert H. Shumway and David S. Stoffer (2006): Time Series Analysis
and Its Applications With R Examples, Second Edition, Springer
4. G. C. Lim and Paul D. McNelis (2008): Computational Macroeconomics
for the Open Economy, The MIT Press, Cambridge, Massachusetts
5. Favio Canova (): Methods for Applied Macroeconomics Research
6. Ray C. Fair (1994): Testing Macroeconometric Models, Harvard
University Press, Cambridge, Massachusetts, London, England
ECO395 SEMINAR V
2 Hours/week, 1.0 credit
Reading & Reviewing Paper on Development Economics: Student groups will
select at least two particular topics in any field related to development economics,
search references and prepare a synopsis on at least one topic with a rich reference
list. Each group will be evaluated based on their synopsis presented and their
understanding of the subject matter.
ECO376 LAB VI: APPLICATION OF MATHEMATICS IN ECONOMICS III
2 Hours/week, 1 Credits
Application of dynamic models
The course teacher will determine the field work. Students will be required to submit
assignments as required by the course teacher, which will carry out 40% of the total
marks. Students are also required to attend an oral examination carrying 50% of the
total marks and the rest 10% will be reserved for performance in the field or lab.
ECO396 SEMINAR VI
2 Hours/week, 1.0 credit
Reading & Reviewing Paper on Trade or Agricultural Economics: Student
groups will select at least two particular topics in any field related to trade or
agricultural economics, search references and prepare a synopsis on at least one
topic with a rich reference list. Each group will be evaluated based on their synopsis
presented and their understanding of the subject matter.
ECO413 MICROECONOMICS III
4 Hours/week, 4 Credits
1. Choice under uncertainty: Expected utility functions, risk aversion and
indifference curves, measures of risk, risk spreading, stock market, intertemporal
choice – 2-period and n-period utility maximization, time preference, Fischer
separation theorem, optimal consumption over time, optimal investment over time,
capital market equilibrium.
2. Asymmetric Information and Incomplete Markets: Asymmetric information in
insurance markets – adverse selection and moral hazards; principal-agent theory –
hidden information and hidden action; signaling; incomplete insurance markets;
incomplete stock markets.
3. Theory of Firm: Properties of the production function; properties of the cost
function and the conditional input demand function; duality in production;
Properties in profit function and the input demand function.
4. General Equilibrium: a) Exchange Economy – Pareto efficient allocations;
Walras' Law; the existence of equilibrium; equilibrium and efficiency; implication
of the first welfare theorem; implications of the second welfare theorem. b)
Production – Equilibrium in both consumption and production; production and the
first welfare theorem; production and second welfare theorem; production
possibilities set; Pareto efficiency; profit maximization and consumption.
Recommended Book:
1. Varian, H R ((2010) Intermediate Microeconomics – A Modern Approach,
W.W. Norton and Company Inc, Eight Edition
2. Varian H R (1992): Microeconomic Analysis, W.W Norton and Company,
USA, Third edition
3. Walter Nicholson : Microeconomic Theory Thomson South Western
Publishing
4. Henderson J M and R E Quandt (1980): Microeconomic Theory: A
mathematical Approach, McGraw-Hill, USA Third edition
5. Silberberg E (1990): The Structure of Economics: A Mathematical Analysis,
McGraw-Hill, USA Third edition
6. Baumol W J (1977): Economic Theory and Operations Analysis, Prentice Hall,
Fourth edition
7. Green, H A J (1976): Consumer Theory, Macmillan, London, Revised edition
8. Jehle G A and P J Reny (2006): Advanced Microeconomic Theory, Pearson
Education, Second edition
9. Gravelle H and R Rees (2004) Microeconomics, Trans - Atlantic Publication,
USA
10. Silberberg E (1990): The Structure of Economics: A Mathematical Analysis,
McGraw-Hill, USA Third edition
11. David M. Kreps: Microeconomic Theory, Prentice Hall Publications
ECO414 Industrial Organizations
4 Hours/week, 4 Credits
1. Introduction: approaches to the study of Industrial Organization, Static Versus
Dynamic Models, Theory and Empiricism, Government and Industrial Organization,
The Global Economy and Industrial Organization.
2. Basic Microeconomic Theory of the Firm and Market structure: a) Economic
costs and the optimal size of the firm, b) The theory of perfect competition, c.
Monopoly and aspects of monopoly theory, d. Oligopoly and monopolistic
competition.
3. Further Topics in the Theory of the Firm: a) The Social costs of monopoly, b)
Concentration, c) Entry and Exit, d) the theory of contestable markets and potential
competition.
4. Oligopoly Theory and Collusion: a) Collusion and the Prisoner’s Dilemma, b)
The Cournot Model, c. Bertrand Model, d) Price fixing and Collusion, e) Tacit vs.
explicit collusion, f) Price fixing and the professions, g) Resale Price Maintenance.
5. Product Differentiation and Advertising: a) Theoretical analysis of product
differentiation, b) the optimal amount of variety, c) Advertising and market
structure, d) advertising as a barrier to entry.
6. Technological Change and Research and Development: a) Impact of
oligopoly, b) Game theory and R&D, c) Firm size and R&D, d) Empirical evidence.
7. Market power and the problem of monopolization: a) Limit Pricing, b)
Predatory Pricing, c) Empirical evidence of monopolization, d) Cases: What is
monopolization, e) Cases: Predatory pricing f) Cases: non-pricing strategies to deter
entry.
8. Mergers: a) Horizontal mergers, b) Vertical mergers, c) Conglomerate mergers
and corporate takeovers, d) corporate takeovers and market efficiency
9. Antitrust and regulation: a) Policy toward monopolization, b) Policy toward
direct price fixing agreements, c) Clayton Act, d) Traditional public untility
regulation, e) X-inefficiency, f) The Averch-johnson effect, g) From regulation to
deregulation.
References
1. Don Waldman and Elizabeth Jensen (2013) Industrial Organization: theory and
practice (4th edition).Person.
2. Carlton, D. W., & Perloff, J. M. (2015). Modern industrial organization.
Pearson Higher Ed.
3. J. Tirole (1988).The Theory of Industrial Organization, MIT press.
4. W. Adams and J. Brock (1992). Antitrust Economics on Trial, Princeton
University Press.
ECO432 Contemporary Issues in Economic Development
4 Hours/week, 4 Credits
1. Measuring Poverty: What is poverty? Why and How do we measure it?
Understanding Prosperity and Poverty: Geography, Institutions, and the Reversal of
Fortune; The Global Economy and the Poor; The evolution of thought on poverty
reduction, development and growth
2. Resource (Mis) Allocation and Household Productivity
3. Globalization and Economic Development
4. Economic Growth and its proximate determinants: Growth Accounting
5. Human Capital and Development: is Education the Secret to Development?
6. Foreign Aid: Saving the World v. One Step At a Time
7. Migration and Development
8. Population Projection
9. Washington Consensus and Policy Debate
References
Lindauer, David and Lant Pritchett. 2002.“What's the Big Idea?: The Third
Generation of Policies for Economic Growth”, Economía, 3(1):1-39.
Mohan Munasinghe (1993). Environmental Issues and Economic Decisions in
Developing Countries; World Development, 21(11):1729-l 748
Stavins, Robert N. “The Problem of the Commons: Still Unsettled After 100 Years.”
American Economic Review 101 (2011): 81–108.
Dell, Melissa, Benjamin F. Jones, and Benjamin A. Olken. 2014. What Do We
Learn from the Weather? The New Climate-Economy Literature. Journal of
Economic Literature, 52(3): 740-798.
Arvind Subramanian and Dani Rodrik, “Why Did Financial Globalization
Disappoint?” IMF Staff Papers, Volume 56, Number 1, March 2009, 112-138.
Bils, Mark and P. Klenow (2000). Does Schooling Cause Growth?” American
Economic Review, December 2000, 90(5), pp. 1160-1183.
Easterly, William and Tobias Pfutze,(2008) “Where Does the Money Go? Best and
Worst Practices in Foreign Aid”, Journal of Economic Perspectives.
Douglas S Massey (1988). Economic Development and International Migration in
Comparative Perspective. Population and Development Review, 14(3):383-413
ECO445: ECONOMETRICS II
4 Hours/week, 4 Credits
1. Review of Econometrics I: Classical linear regression model, least square
estimation (LSE); Finite and asymptotic properties of LSE; hypothesis test and
model selection.
2. Non-spherical disturbances: WLS and GLS: Non-spherical disturbance and
generalized linear regression model (GLRM): Properties GLS estimator;
heteroscedastic disturbance: tests for heteroscedasticity, estimation under
heteroscedasticity, efficient estimation with WLS; autocorrelated disturbances, tests
for autocorrelation, estimation under autocorrelation, remedial measures.
4. Distributed Lag model: Finite distributed lag model: impact multiplier and long
run multiplier; infinite distributed lag model: Almon and Kycok model; rational
distributed lag model.
5. Simultaneous equations models: Exogenous and endogenous variables,
erogeneity and causality, simultaneous equation bias; reduced form estimation,
identification problem: necessary and sufficient conditions for identification,
methods of estimation; tests for simultaneity and erogeneity.
6. Dummy variables: Regression on qualitative and quantitative variables
simultaneously, dummy variables for changes in the intercept and slope coefficients,
dummy variables for cross equation constraints, testing for structural stability of
regression model; dummy dependent Variables: LPM, Logit and Probit models.
Recommended Books:
1. Greene, W. H. (2012): Econometric Analysis, 7th edition, Prentice Hall:
Pearson Education Limited
2. Johnston, J. and J. DiNardo (1997): Econometric Methods, 4th edition,
New York: McGraw-Hill.
3. Maddala, G. S. (2005): Introduction to Econometrics, John Wiley and
Sons, third edition. New York, USA
4. Wooldridge, J. M. (2008): Introductory Econometrics-A Modern
Approach (4th Edition), Thomson South-Western
5. Wooldridge, J. (2002): Econometric Analysis of Cross Section and Panel
Data. Cambridge: MIT Press.
ECO477 LAB VII: APPLICATION OF ECONOMETRICS II
2 Hours/week, 2 Credits
1. Basics of Data, Variables, Theory and Empirical works: Understanding Data
and Variables, Relating Theory to Empirical Works
2. Introduction to data analysis, Hypothesis testing, Regression Analysis and
Post Estimation Diagnosis with statistical software: Basics of STATA/
R/EVIEWS like data entry, data inspection (browsing, editing, cleaning etc.), data
organizing (labeling, coding/recoding etc.), tabular analysis etc.
3. Reporting: Interpreting analyzed data
Evaluation Criterion: Students will be required to submit assignments as required
by the course teacher, which will carry out 40% of the total marks. Students are also
required to attend an oral examination carrying 50% of the total marks and the rest
10% depends on performance in the field or lab.
Recommended Books:
1. C. F. Baum (2006): ‘An Introduction to Modern Econometrics using
STATA’, StataCrop LP, USA
2. D. Gujarati (2011): ‘Econometrics by Example’, First Edition, Macmillan
Publishers Limited, UK.
3. G. Jay Kerns (2010): ‘Introduction to Probability and Statistics Using R’,
First Edition, GNU Free Documentation License
4. I G. N. Agung (2011): ‘Cross Section and Experimental Data Analysis
using Eviews’ John Wiley & Sons (Asia) Pte Ltd.
ECO497 SEMINAR VII
2 Hours/week, 1.0 credit
Reading & Reviewing Empirical Paper in Economics: Student groups will select
at least two particular topics in any field of economics and search references with
extensive use of econometric modeling. They have to prepare a synopsis on at least
one topic with a rich reference list. Each group will be evaluated based on their
synopsis presented and their understanding of the subject matter.
ECO 423 MACROECONOMICS III
4 Hours/week, 4 Credits
1. Controversies in Macroeconomics: Classical, Neo-classical and Keynesian
schools.
2. Micro Foundations of Macroeconomics: Micro foundations of incomplete
nominal adjustment; Inter-temporal choice; Aggregation theory;
3. Economic Growth: Sources of economic growth, growth accounting, Solow
model: the set-up of Solow model, steady state, determinants of long-run living
standards, concept of convergence, Golden rule. Endogenous growth theory;
concepts of other growth theories.
4. Rational Expectation Model: Rational expectations and its definitions; The
Muth Model, Monetarist model in rational expectation, Lucas critique, Sargent-
Wallace propositions.
5. Consumption and Investment: Inter-temporal smoothing in consumption
behavior, consumer preferences, income and interest rates, modeling the permanent
income hypothesis and impact of interest rates and time preferences, optimal
consumption path and permanent income hypothesis consumption function; Random
walk behavior of consumption. Investment in the theory of the firm, a simple model
of investment; desired capital stock, changes in desired capital sock, effect of taxes
on desired capital stock, capital and investment, saving-investment diagram and
their shifts.
6. Dynamics of Inflation and Unemployment: Inflation and Phillips curve:
Inflation inertia, deriving Phillips curves, expectation augmented Phillips curve,
Phillips curves under adaptive and rational expectations, Phillips curve and
imperfect labor market equilibrium, equilibrium rate of unemployment, NAIRU.
Disinflation and central bank preferences, costless disinflation and rational
expectations.
Monetary rules and the 3-equation model: 3-equation model; Effect of inflation
shock, temporary demand shock and permanent demand shock; The Monetary Rule
Line and real interest rate, sacrifice ratios and disinflation strategies, cold turkey and
gradualism; Interest rate rule and money supply rule of controlling inflation.
7. Monetary and Fiscal Policy: Monetary policy paradigms, central bank’s utility
function, deriving monetary rule, interest rate rules and lags, deflation trap; rules vs
discretion in monetary policy, credibility of central bank. The automatic stabilizer
and discretionary fiscal policy; Government budget identity, balanced budget
multiplier and sources of finance of government expenditure; Deficit and debt, Debt
dynamics, effect of real interest rates and growth rates on debt, fiscal consolidation,
Ricardian equivalence. Monetizing the debt, seignorage and inflation tax; Prudent
fiscal policy rules
Recommended Books:
1. Carlin, Wendy and Soskice, David (2006). Macroeconomics: Imperfections,
Institutions and Policies. Oxford University Press
2. Blanchard, Olivier (2014). Macroeconomics. Prentice Hall.
3. Abel, A.B and Bernanke, S. B (2010). Macroeconomics. Pearson
4. BBS (2014). National Income Accounts Statistics: Sources and Methods,
Bangladesh Bureau of Statistics.
5. Durlauf and Blume (2010). Macroeconometrics and Time Series Analysis.
Palgrave
6. Hoover, Kevin (2012). Applied Intermediate Macroeconomics, , Cambridge
University Press
ECO445 RESEARCH METHODOLOGY
4 Hours/week, 4 Credits
1. Introduction to Research Methodology: The philosophy of science (i) From the
received view to the views of Popper, The received view, The hypothetico-deductive
model, The symmetry thesis, Popper's falsificationism, The problem of induction,
Statistical inference, (ii) From Popper to the new heterodoxy, Kuhn's paradigms,
Methodology versus history, Scientific research programs, Feyerabend's anarchism.
2. The history of economic methodology: The prehistory of economic
methodology, Mill's essay, Mill's economics in practice, Cairnes's Logical Method,
John Neville Keynes sums up, Robbins's Essay, Modern Austrians.
3. Definitions & Classifications related to Research Methodology: (a) Definition
& Classification of Research, Research Methodology, (b) Goals of Research,
Qualitative and Quantitative Research, (c) Research Methodology and Research
Method; Research Methodology for Economics & Economic Research
Methodology; Process of Research, (d) Creativity in the Research Process, (e)
Research vs. Decision Problems, Research Problem Identification, Researchable
Problem vs. Problematic Situation, Problem Statement, Use of Data, (f) Objectives,
Developing Problem and Objective Statements.
4. Planning the Research: (a) Research Project Proposal, Elements of the Research
Proposal, Evaluation of Project Proposal, (b) Writing – Importance & Guidelines.
5. Literature Review: (a) Purpose of the Literature Review; Literature Search
Process, (b) Writing the Literature Review; Referencing.
6. Methods & Procedures: (a) Basic Concepts and Issues in Research: Theory,
Proposition, Axiom, Theorem, Model, Theoretical Framework, Variable,
Measurement, Research Ethics. (b) Conceptual Framework: Role of the Conceptual
Framework and its Source, Hypotheses and Hypotheses testing, Operational
Suggestions, (c) Designing a Study: Non-Experimental Studies & Experimental
Studies, Internal & External Validity, Experimental Research Design, (d) Sampling
and Sampling Design: Importance of Sampling, Non-Probability Sampling,
Probability Sampling, Other Conventions in Sampling, (e) Survey Designing:
Importance, Survey Objective – Factors for Deciding among Various Survey
Designs, Outlining Core Elements, Choosing the most appropriate Survey Design;
Survey Modules, (f) Questionnaire and its Construction, (g) Data Collection:
Personal Interview and errors, Other Interviewing Methods, Qualitative Data
Collection Techniques.
7. Qualitative research methods overview: (a) Introduction to qualitative research,
(b) Comparing quantitative and qualitative research, (c) Sampling in qualitative
research, Recruitment in qualitative research, (d) Ethical guidelines in qualitative
research.
8. Research in Experimental studies: (a) Experimental studies and threats to their
validity, (b) Survey studies and threats to their validity.
Recommended Books:
1. M. Blaug (1992) The methodology of economics, 2nd ed., Cambridge
University Press, Ch. 1, Ch. 2 h.3.
2. Don Ethridge (2004) “Research Methodology in Applied Economics”, 2nd
edition, Ch. 2, 6,& 8
3. M. Nurul Islam (2011) “An Introduction to Research Methods”, 2nd
edition, Ch. 1.2,4,5,&6
4. Don Ethridge (2004) “Research Methodology in Applied Economics”, 2nd
edition, Ch. 5 &7.
5. Margaret Grosh and Paul Glewwe (2000) edt. “Designing Household
Survey Questionnaires for Developing Countries: Lessons from 15 years
of the Living Standards Measurement Study”, vol. 1, Ch. 1, 2 & 3, The
World Bank.
6. Mack, N.; Woodsong C.; Macqueen, K. M.; Guest, G.; and Namey, E.
(2011) “Qualitative Research Methods: A Data Collector’s Field Guide”:
Module 1.
7. Quantitative research methods in educational planning, Series editor:
Kenneth N. Ross (2005), Module 4, Richard M. Wolf, page 16.
ECO478 Lab VIII: FIELD WORK FOR RESEARCH METHODOLOGY
2 Hours/week, 2.0 credit
Fieldwork for Research Methodology
Research Training based on Research Proposal writing, Surveying, Data
Enumeration, Report Writing, Presentation and Class Critique of Research
Proposals. Each student will be responsible to generate research idea and a
presentation of his or her research proposal to the class in seminar format.
Training:
1. Graded Assignments:
A. Research Proposal: Students will develop a research proposal that shows an
understanding of economic methodology and develops an interesting research
hypothesis and plan of investigation. This proposal will need to be thoroughly
researched and differentiated from current literature.
B. Critical Reviews: Students will critically review each other’s proposals.
C. Students will submit questionnaire on a selected topic by the course supervisor.
2. Survey:
A. Students will collect data under the supervision of the course teacher.
B. Students will enumerate collected data and make a report following directions of
the teacher.
3. Open Lectures: Critical Evaluations of Economic Research.
Members of the faculty will present research papers, proposals and thesis to the class
that they feel are particularly good examples of economic research. These examples
will focus on and critique methodology and uses of theory and empirical methods in
economics. One or more papers will be assigned for each presentation.
Grading will be on the research proposal, questionnaire, survey, data preparation and
reporting. For convenience, students have to work in groups.
Evaluation of project research proposal, questionnaire, survey, data preparation and
reporting will carry out 60% of the total marks. Students are also required to attend
an oral examination carrying 30% of the total marks and the rest 10% depends on
class attendance.
Recommended Books:
1. Daniel Friedman and Alessandra Cassar (2004): Economics Lab – An
intensive course in experimental economics, Routledge, 11 New Fetter
Lane, London EC4P 4EE.
2. A. Colin Cameron & Pravin K. Trivedi (2005): Microeconometrics –
Methods and Applications, Cambridge University Press.
3. G. Jay Kerns (2010): Introduction to Probability and Statistics Using R,
First Edition, GNU Free Documentation
License”
4. Robert H. Shumway and David S. Stoffer (2006): Time Series Analysis
and Its Applications With R Examples, Second Edition, Springer
5. G. C. Lim and Paul D. McNelis (2008): Computational Macroeconomics
for the Open Economy, The MIT Press, Cambridge, Massachusetts
6. Favio Canova (): Methods for Applied Macroeconomics Research
7. Ray C. Fair (1994): Testing Macroeconometric Models, Harvard
University Press, Cambridge, Massachusetts, London, England
ECO498 SEMINAR VIII
2 Hours/week, 2.0 credit
Student Working Paper in Economics: Student groups will be evaluated based on
their research article, their presentation and their understanding of the subject
matter.
 Details Syllabus
Non-Major Courses
(offered by other department)
MAT101c MATHEMATICS I
Theory: 2 Hours/Week, 2.0 Credits
1. Set theory and Theory of numbers: Concepts of Sets & subsets, Cartesian
products, functions and relations, binary operation on the sets N, Q, R as algebraic
system, equivalence relations, equivalent sets, countable & uncountable sets, open
and closed sets, interior and boundary of a set.
2. Calculus: (i) Concept of Limits and Inequalities, limit theorems, (ii) Concept of a
derivative and its geometric interpretation, continuity and differentiability of a
function, rules for computing derivatives, higher order derivatives, (ii) Partial and
total derivatives – concept, economic and geometric interpretations, total
differentials, total derivatives, equality constrained and unconstrained maxima and
minima, applications in economics.
Books Recommended:
1. Kurt Jechlitschka, Dieter Kirschke and Gerald Schwarz (2007):
Microeconomics Using Excel, Routledge
2. Mosini, V. (2007) ed.: Equilibrium in Economics, Routledge
3. Chiang, A C and K Wainwrite (2005): Fundamental Methods of Mathematical
Economics, McGraw-Hill, USA, Fourth Edition.
4. Simon, C P and L Blume (2006): Mathematics for Economists, Viva Books
Limited, India
5. Yamane, Taro (1968): Mathematics for Economists – an Elementary Survey,
Prentice Hall India (Reprint, 2007)
6. Frank Werner and Yuri N. Sotskov (2006), Mathematics of Economics and
Business, Routledge
MAT102c MATHEMATICS II
Theory: 2 Hours/Week, 2.0 Credits.
1. Vector Space: Definition, linear sum, and inner product space.
2. Calculus: Concepts of Integration, Indefinite and Definite Integrals, methods of
integration, applications from a marginal to total functions, investment and capital
formation, consumer and producer surplus.
3. Concave and Convex Function: Concavity, convexity, quasi concavity and quasi
convexity of functions, Homogeneous and homothetic functions.
4. Eigen values and Eigenvectors: Definitions, properties of Eigen values repeated
and complex Eigen values.
Books Recommended:
1. Chiang, A C and K Wainwrite (2005): Fundamental Methods of Mathematical
Economics, McGraw-Hill, USA, Fourth Edition
2. Gravelle, H and R Rees (2004): Microeconomics, Transatlantic Publications,
USA
3. Simon, C P and L Blume (2006): Mathematics for Economists, Viva Books
Limited, India
4. Yamane, Taro (1968): Mathematics for Economists – an Elementary Survey,
Prentice Hall India (Reprint, 2007)
5. Weber, J E (1982): Mathematical Analysis, Business and Economic Applications,
Harper & Row, Fourth Edition
MAT 301c MATHEMATICS III
Theory: 4 Hours/Week, 4.0 Credits
Differential and Difference Equation: (a) First order differential and difference
equations with (i) constant coefficient and constant term, (ii) variable coefficient and
variable term; exact differential equation; non-linear difference and differential
equation of the first order and first degree; economic applications; (b) second order
differential and difference equations with constant co-efficient and constant term;
economic applications. Linear and Non-linear Programming: Linear
programming: primal and dual interpretation of dual; solution of primal and dual
programs; activity analysis; non-linear programming and Kuhn-Tucker conditions.
Input-Output Analysis: Static and dynamic models; Samuelson’ substitution
theorem. Theory of Games: Two person constant sum games; two person non-
constant sum games; pure strategy and mixed strategy; cooperative games; dominant
strategy; Nash equilibrium; Prisoner’s dilemma; repeated games; sequential games;
threat; commitment and credibility; entry deterrence.
Books Recommended:
1. Chiang, A C and WinWrite K (2005): Fundamental Methods of Mathematical
Economics, Mc Graw-Hill, USA
2. Simon, C P and L Blume (2006): Mathematics for Economics, W. W. Norton and
Company and Viva Books limited
3. Baumol, W J (1977): Economic Theory and Operations Analysis, Prentice-Hall,
USA
4. Varian, H R (2005): Intermediate Microeconomics- A Modern Approach, W. W.
Norton and Company
5. Pindyck, R S and D L Rubinfeld (2005): Microeconomics, Prentice-Hall India
6. Binmore, K (1992): Fun and Games- A Text on Game Theory, Lexington: D. C.
Heath
7. Gibbson, R (1992): Game Theory for Applied Economists, Princeton University
Press
8. Owen, Guillermo (2001): Game Theory, Elsevier
MAT 401c MATHEMATICS IV
Theory: 3 Hours/Week, 3.0 Credits
1. The Calculus of Variations: Salient features of dynamic optimization problems,
The Euler equation, versions of Euler equation in special cases, economic
application, Transversality conditions (general and specialized) for variable end
point problems, concavity/convexity – sufficient conditions, Legendre necessary
condition, infinite planning horizon, optimal investment path, optimal saving
behavior, phase diagram analysis.
2. Optimal Control Theory: The nature of optimal control, the maximum principle,
alternative terminal conditions, economic interpretations of maximum principle,
optimum control with infinite time horizon, neoclassical growth model, current
value Hamiltonian, phase diagram.
ENG101c (COMPULSORY FOR ALL DEPARTMENTS) ENGLISH
COMMUNICATIVE SKILLS1
(Developing Writing and Reading Skills)
Credits: 2.0 (2 periods a week)
Problems with: (a) Main Verbs; (b) Tense; (c) Modals and Modal-related patterns;
(d) Causatives; (e) Conditionals; (f) Subjunctives; (g) Infinitives; (h) Have +
Participle; (i) Auxiliary Verbs; (j) Pronouns, Relative Pronouns, Nouns and
Adjectives, Nouns functioning as Adjectives and other Parts of Speech; (k)
Determiners; (l) Comparatives; (m) Prepositions and prepositional idioms; (n)
Point of View for Syntactical Pattern; (o) Agreement of verbs; (p) Introductory
verbal; Modifiers; (q) Sentences and Clauses; (r) Word Choice—Vocabulary—
Antonym, Synonym, Homonym, Homograph, Homophone; (s) Wh. Questions;
(t) Punctuations: Full stop, comma, colon, semi colon, apostrophe, capital letter,
hyphen, quotation marks, titles etc.; (u) Proofreading
Reading Comprehension
Composition (Argumentative Essay as per IELTS structure)
Recommended Books:
1. Barron’s TOEFL
2. Allen, W. Stannard. Living English Structure
3. Cambridge IELTS series
4. Any other standard grammar book of Instructor’s choice
ENG102c (COMPULSORY FOR ALL DEPARTMENTS) ENGLISH
COMMUNICATIVE SKILLS (LAB)
(Developing Listening and Speaking Skills)
Credit: 1.0 (2 Periods a week)
This course attempts to enhance students’ listening and speaking abilities
through learner-centered diverse skills and techniques in the forms of interactive
sessions like pair works, group works, discussions, etc.
For testing student’s skill in speaking English, four students will be called in at a
time to viva board and interviewers will judge their skill in spoken English
PSS102c POLITICS AND ADMINISTRATION IN BANGLADESH
3 Hours/Week, 3.0 Credits; 4Hours/Week, 4.0 Credits
a) Fundamental concepts: State, Power, Sovereignty, Law, Liberty, Institution,
Nationalism, Constitution, Government and its various forms.
b) Bangladesh: Society and Politics
c) Background of the evolution of Bangladesh: Nationalism, War of Liberation, Nature
of Leadership
1This course is going to be offered to all depts. with the acronyms (codes) of
the specific dept. used.
d) Political Process of Bangladesh: Democratic Practices and Constitutional
Experimentation in Bangladesh (Constitution and its Amendments). Power and
functions of the Organs of Government (Executive, Legislature and Judiciary), Alliance
Politics & Coalition Government, Military Rule & Civilization Process.
e) Constitutional Framework of Bangladesh Public Administration
f) Central Personnel Agencies
i) Ministry of Public Administration (MOPA)
ii) Bangladesh Public Service Commission (BPSC)
g) Structure and Functions of Bangladesh Secretariat and Attached Departments.
h) Bureaucracy in Bangladesh: Characteristics and Functions.
i) Local Government in Bangladesh, Election Commission and its power, Judiciary and
its independence.
Books Recommended
 Agarwal, R.C. (2004) Political Theory. New Delhi: S. Chand and Co.,
 Ball, R Alan. (1977) Modern Politics and Government. London: Macmillan Press.
 Constitution of Peoples’ Republic of Bangladesh.
 De Vos, Ton.(1975) Introduction to Politic. New York:. Winthrop Publishers.
 Gullic, Luther H. and Lyndell, Urwick. (1937) Papers on the Science of
Administration. New York: Institute of Public Administration.
 Garner, J.W. (1910) Introduction to Political Science. New York: American Book
Com.
 Gettle, G Rymond. (1910), Political Science. Boston: Inn and Co.,
 Halim, Abdul. (2006) Constitution, Constitutional law and Politics: Bangladesh
Perspective. Dhaka: CCB Foundation and CCB Book Centre, 61 Islamia
T T
Market.
 Jahan, Rounaq. (1980) Bangladesh Politics: Problems & Issue. Dhaka: University
Press Limited.
 Jahan , Rounaq.(1972) Pakistan: Failure in National Integration. New York:.
Columbia University Press.
 Johari, J.C .(1989). Principles of Modern Political Science. New Delhi: Sterling
Publishers.
 Kapur, A.C. (1990), Principals of Political Science, New Delhi: S. Chand and
Co.,
 Laski, H.J .(1931) A Grammar of Politics. London: Allen & Unwin Ltd.,
 Rodee, Anderson & Christol (ed.). (1967) Introduction to Political Science. New
York: McGraw-Hill.
 Wheare, K.C. (1952) Modern Constitutions. London: Oxford University Press.
 White, L. D. (1926) Introduction to the Study of Public Administration. New York:
The Free Press.
BUS 104c PRINCIPLES OF ACCOUNTING
3 Hours/Week, 3.0 Credits
Course objective: The core objective of the course is to learn the recording process
of economic events and financial statements to ensure that the user can get true and
fair information in right time as they need in making their decisions.
Detail Syllabus
Chapter 1: Accounting in Action: What is accounting? The building block of
accounting; The basic accounting equation; Using the basic accounting equation;
Financial statements. Chapter 2: The Recording Process: The account; Steps in
the recording process; The recording process illustration; The trial balance. Chapter
3: Adjusting the accounts: Timing issues; The basics of adjusting entries; The
adjusted trial balance & financial statements. Chapter 4: Completing the
Accounting Cycle: Using a worksheet; closing the books Summary of the
accounting cycle; The classified income statement balance sheet; Long term
investment; Chapter 5: Accounting for Merchandising Operation: Merchandising
operation; Recording purchases pf merchandise; Recording sales of merchandise;
Completing the according cycle; Forms of financial statement; Determining the cost
of sold under a period system. Chapter 6: Classify inventory; determining inventory
quantities inventory costing; inventory errors; statement presentation and analysis;
Inventory cost flow methods in perpetual inventory system. Estimating inventories.
Chapter 7: Accounting Information System: Basic concepts of accounting
information system. Computerized accounting system; manual accounting system;
Subsidiary ledger; Special journals Chapter 8: Internal Control and Cash: Internal
Control; cash controls; Use of a bank; Reporting cash.
Text book: Accounting Principles by Wegandti Kieso Kimmel
Other recommended books:
1. Charles T.Horngren and W.T. Harrison Jr. , Accounting.
2. Needles and Anderson, Principles of Accounting.
3. Needles Bluevird H. , Financial Accounting.
4. Niswonger and Feses, Accounting Principles.
STA104c INTRODUCTORY STATISTICS
Theory: 3 Hours/Week, 3.0 Credits
Statistics: definition, subject matter, applications of statistical tools in economic
analysis. Statistical data: nature, classification and tabulation, frequency distribution,
various methods of graphical representation. Measures of central tendency and
dispersion: arithmetic mean, geometric mean, harmonic mean, weighted average,
mode, median, quartiles and percentiles, variance and standard deviation, coefficient of
variation, skewness and kurtosis.
Probability: Definition and related concepts, laws of probability, conditional
probability, Bayes theorem.
Random variables: Definition, discrete and continuous random variables, probability
function, distribution function, joint, marginal and conditional probability functions.
Mathematical expectation: Expectations of sum and product, conditional expectation
and conditional variance. Moments and moment generating function, cumulants.
Index numbers: Different types of index numbers, formulae, construction and tests of
index numbers, cost of living index number, uses and importance.
Books Recommended:
1. Mostafa M G, Methods of Statistics
2. Islam M N, An Introduction to Statistics and Probability
3. Roy M K, Fundamentals of Probability and Probability distributions
4. Croxton & Cowdon, Applied General Statistics, Prentice-Hall
5. Mood & Grabill, Introduction to the Theory of Statistics
6. Walpole R W, Introduction to Statistics, Collier-Macmillan
7. Wonnacot & Wonnacot, Introductory Statistics, Wiley
STA106c STATISTICS I
Theory: 3 Hours/Week, 3.0 Credits
Distributions: Detailed study of binomial, Poisson, and normal distribution.
Sampling: population and sample, census and sampling, probability and non-
probability sampling, methods of sampling -simple random sampling, stratified
sampling, systematic sampling, cluster sampling, Estimation of population total,
mean, proportion and their standard errors, determination of sample size, sampling
errors and non-sampling errors.
Correlation and regression analysis: bi-variate frequency distribution, correlation,
rank correlation, partial and multiple correlation, linear and non-linear regression.
Method of least squares, estimation of simple linear regression parameters; theorems
used in correlation and regression analysis, introduction to the notion of goodness of fit.
Time series: analysis of economic time series, estimating trends, seasonal and cyclical
components.
Income and wealth distributions: study of lognormal distributions, Pareto curve,
Lorenz curve. Basic Ideas of analysis of variance.
Books Recommended:
1. Mostafa M G, Methods of Statistics
2. Islam M N, An Introduction to Statistics and Probability
3. Islam M N, An Introduction to Sampling Methods
4. Roy M K, Fundamentals of Probability and Probability distributions
5. Klein L, A Test Book of Econometrics
6. Mirer T, Economic Statistics and Econometrics
7. Gupta and Kapoor, Fundamentals of Applied Statistics
SOC101c PRINCIPLES OF SOCIOLOGY
Theory: 4 Hours/week, 4.0 Credits
What is Sociology? Nature and scope of sociology: Origin and development of
sociology as a separate discipline, relationship between sociology and other social and
natural sciences, problems of objectivity in sociology. Sociological Perspectives:
Sociology and commonsense, Sociological imaginations, Functionalist, conflict and
inter-actionist perspectives in sociology. Doing Sociology: Scientific method and
techniques for sociological investigation. Primary concepts: Society, Community,
Association, Institution, Culture: Components of culture; Norms, values, folkways,
mores, cultural traits and complexes, Cultural unity and diversity. Culture and
Civilization: Material and non-material Culture, Acculturation, Cultural Diffusion.
Types of Society: From early hunting gathering to industrial development and
globalization. Social Process: Socialization: Agents of Socialization, Early
development of infant, Cooperation, Competition and Conflict. Social
Institutions: Family, Marriage and kinship, Property, Religion, Economy and
Political Institutions, Functionalist and Conflict Perspectives of institutions. Social
Structure: Components of Social Structure, Theories of Social Structure.; Social
Inequality and Stratification and class structure; Systems of Stratification,
Functionalist and Conflict Perspectives of Stratification, social mobility. Population
and Environment: Population Growth, Ecological Balance, Ecosystem, threats to
global environment, The Environment: A sociological issue. Social Change:
Change and its factors, Differences with progress, evolution and development,
theories of social change. Social Problems: Nature of social problems, social
disorganization, deviant behavior. Collective Movement: Group, Crowd and Mob.
Selected Texts:
1. R.T. Schaefer and R.P. Lamm, Introducing Sociology
2. M.S. Bassis, R.J. Gelles and Levine, Sociology
3. Ian Robertson, Sociology
4. Anthony Giddens, Sociology
5. Vander Zanden, Sociology: The Core
Books for Reference:
1. Alex Inkels, What is Sociology
2. Pascal Gisbert, Introduction to Sociology
3. E.C. Cuff, W. Sharrock and D.W. Francis, Perspectives in Sociology
4. Micheal P. Robbins, Organizational Behavior
5. T.B. Bottomore, Sociology: A guide to problems and literature
6. J.E. Goldthorpe, Sociology of the Third World
7. J.E. Goldthrope, An Introduction to Sociology
8. Metta Spencer, Foundation of Modern Sociology
9. P.B. Horton and C.L. Hunt, Sociology
10. G. Lenski, J. Lenski and P. Nolan, Human Societies
11. E.W. Steward and J.A. Glynn, Introduction to Sociology
12. F.R. Scarpitti and M.L. Andersen, Social Problems
13. G. T. Miller, Living in the Environment
14. Samuel Koenig, Sociology
15. Nazmul Karim, Samajbighan Samikhan
CSE202c INTRODUCTION TO COMPUTING APPLICATIONS
6 hours/week, 3 credits
Spreadsheet Analysis: Introduction (Spreadsheet & its Applications, Menus &
Toolbars), Working with Spreadsheets (Converting files to different formats,
Importing, Exporting, Spreadsheet addressing, Computing data, Mathematical
operations, Using formulas), Formatting Spreadsheets (Border & shading,
Highlighting values, Visibility, Sorting, Filtering, Validation, Consolidation,
Subtotal), Creating Charts (Selecting charts, Formatting charts, label, scaling etc.),
Using Tools (Error Checking, Spell Checks, Macros), Printing worksheet.
Database Applications: Introduction (Database concepts, Tables, Queries, Forms,
Reports), Working with Databases (Creating Tables, Table Design, Indexing,
Entering data, importing data), Creating Queries (SQL statements, Setting
relationship, using wizards), Creating Forms, Creating & printing reports.
Statistical Analysis: Introduction, Operation commands, Data definition,
manipulation commands and procedure commands like LIST, DESCRIPTIVES,
FREQUENCIES, CROSSTABS, T-TEST, ANOVA, REGRESS, etc.
Detailed Syllabus
Minor Courses
(offered by Economics Department)
ECO101i/ ECO201O PRINCIPLES OF MICROECONOMICS
4 Hours/week, 4 Credits
1. Introduction: Definition and scope of economics; microeconomics vs.
macroeconomics; basic concepts of scarcity, choice, opportunity cost and efficiency
with first basic model of PPF; fundamental economic problems and solution
systems; economic method.
2. Market Analysis:
(I) Economic Laws of Market and Partial Equilibrium Analysis: Market
forces—demand and supply and their determinants; laws of demand and supply;
demand and supply curves and their shifting and movements; market equilibrium.
(II) Responsiveness and Welfare of Market Agents: Elasticities of demand and
supply; consumer and producer surplus; market failure; price ceiling and price floor;
3. Theory of Consumers: Concepts of utility; cardinal vs. ordinal utility; cardinal
approach—law of diminishing marginal utility, paradox of value; ordinal
approach—consumer's preference, indifference curve; properties of indifference
curves; budget constraints; consumer's equilibrium.
4. Theories of Firms: (I) Theory of Business Organization: Business firms and
the market; why do firms exist; objectives of firms; types of business firms and their
advantages and disadvantages. (II) Theory of Production: Production function;
short run analysis— total, average and marginal products; stages of production; law
of diminishing marginal returns; long run analysis— iso-quant, law of variable
proportions and returns to scale. (II) Theory of Cost: economic vs. accounting cost,
short run and long run cost concepts with relevant numerical and graphical analysis;
planning curve of firm with economies and diseconomies of scale, iso-cost and
producers’ equilibrium vis-à-vis cost minimization.
5. Theory of Profit: Profit, structure and characteristics of different types of
markets; profit and loss analysis under perfect competition and monopoly, price
discrimination.
Recommended Books:
1. Campbell R. McConnell, Stanley L. Brue, Sean M.
Flynn(2012),Microeconomics, Nineteenth ed.
2. Koutsoyiannis, A (2003): Modern Microeconomics, Palgrave Macmillan,
Second Revised Edition
3. Mankiw, N G (2014): Principles of Microeconomics, Thomson South
Western Publishing, Seventh Edition
4. Parkin, Michael (2013), Microeconomics , Pearson Series in Economics, 11th
Edition.
5. Samuelson, P A and W D Nordhaus (2009): Economics, McGraw-Hill USA,
Nineteenth Edition.
ECO102i/ ECO202O PRINCIPLES OF MACROECONOMICS
4 Hours/week, 4 Credits
1. Introduction to Macroeconomics: Definition of macroeconomics; macroeconomic
performance, objectives and instruments of macroeconomics.
2. Measuring national Product and National income: GNP vs. GDP - concept and
measurement; GDP and GNI; NI and personal disposable income; GDP and
spending; nominal and real GDP; comparing income levels between different
countries.
3. Determination of National Income and Investment: the circular flow; components of
aggregate demand and planned spending; aggregate demand; equilibrium output;
changes in equilibrium output; the multiplier; investment, the paradox of thrift.
4. Money and Banking: definition and functions of money; different types of money;
banking – from goldsmith banking to modern banking; commercial banks and
multiple deposit creation.
5. Central Banking and Monetary System - functions of central bank, money supply,
open market operations, high-powered money and the money stock, money
multiplier.
6. Taxes and government expenditure: principles of taxation; types of taxation, heads
of government expenditure.
7. Budget and Fiscal Policy: government in the circular flow; objectives of fiscal
policy.
8. Inflation and Unemployment: Types and causes of Inflation, expected & unexpected
inflation: cost of inflation: money supply and the price level: velocity and quantity
Equation, types and causes of unemployment, remedial measures, Phillips curves.
9. International Trade: Concepts of absolute and comparative advantage; terms of
trade; economics of protection - concepts on tariff and non-tariff barriers, arguments
for & against protection.
Recommended Books:
1. Arnold, R A (2014): Economics, South Western Publishing Company,
Eleventh Edition
2. Dornbusch, Rudiger et al (2011): Macroeconomics, McGraw-Hill
International, Eleventh Edition
3. Mankiw, G (2012): Principles of Economics, Thomson South Western
Publishing, Sixth Edition
4. Samuelson, P A and W D Nordhaus (2009): Economics, McGraw-Hill
USA, Nineteenth Edition.
5. William J. Baumol, Alan S. Blinder, Macroeconomics (2009),South-
Western Cengage Learning, Eleventh Edition
ECO103/ ECO 103H / ECO 103P/ ECO 103c/ ECO 103a
PRINCIPLES OF ECONOMICS
4Hours/week, 4 Credits
MICRO
1. Introduction: Definition and scope of economics; basic concepts and tools used
in economics; economic problems - scarcity and resources.
2. Demand, Supply, and Market: Concept of demand, supply and equilibrium;
determinants of demand and supply; shifting of demand and supply curves; application
of demand and supply; elasticity of demand and supply.
3. Theory of Consumer Behaviour: Concepts of utility; paradox of value; law of
diminishing marginal utility; indifference curve; budget constraint; consumer’s
equilibrium.
4. Theory of Firm: Production function; law of diminishing return; stages of
production; law of variable proportion; short run and long run production and costs.
5. Market: Structure of markets; characteristics of different types of markets; perfect
competition and monopoly - price and output determination, monopolistic competition.
MACRO
1. Introduction to Macroeconomics: Definition: macroeconomic performance:
measuring national product & national income-GNP, NNP, NI; personal disposable
income; national & real GNP; circular flow of Income, value added approach.
2. Determination of National Income: Components of aggregate demand & planned
spending; aggregate demand; equilibrium output/Income Multiplier model of income
and spending.
3. Money & Banking: Definition & functions of money, components of money supply
and money demand, multiple deposit creation, commercial banks & the money stock;
functions of central bank, open market operations; high-powered money.
4. Inflation and Unemployment: Types and causes of inflation, expected &
unexpected inflation: cost of inflation: money supply & the price level: velocity &
quantity equation, types and causes of unemployment, remedial measures, Phillips
Curve.
Recommended Books:
1. Arnold, R A (2014): Economics, South Western Publishing Company,
Eleventh Edition
2. Browning, E K and M A Zupan (2006): Microeconomics – Theory and
Application, Ninth Edition
3. Koutsoyiannis, A (2003): Modern Microeconomics, Palgrave Macmillan,
Second Revised Edition
4. Mankiw, N G (2012): Principles of Economics, Thomson South Western
Publishing, Sixth Edition
5. Samuelson, P A and W D Nordhaus (2009): Economics, McGraw-Hill USA,
Nineteenth Edition.
6. Stiglitz, J E and C E Walsh (2005): Principles of Microeconomics, W, W
Norton and Co Inc. USA
ECO104L ECONOMIC ELEMENTS IN GEOGRAPHY
3 Hours/Week, 3 Credits
Introduction: Definition and scope of economics; basic concepts and tools used in
economics; economic problems-scarcity and resources. Demand, Supply and
Market: Concepts of demand, supply and equilibrium; determinants of demand and
supply; shifting of demand supply curves; application of demand supply; elasticity
of demand and supply. Taxonomy of markets; Characteristics of different types of
markets, competition and equilibrium under different types of competition. Theories
of rent: David Ricardo, Von Thunen and Sinclair. Theory of consumer’s
behavior: Concepts of utility; paradox of value; law of diminishing marginal
utility; indifference curve, budget constraint; consumer’s equilibrium. Introduction
to macroeconomics: Definition; macroeconomic performance, measuring national
product and national income- GNP, NNP, NI, Personal disposable income, national
and real GNP; circular flow of economics.
Recommended Books: 3. Development and related issues: concept of poverty and poverty measures; poverty,
1. Economics – A. R. Arnold. growth and development; fiscal policy; monetary policy; budget and sources of budget
2. Microeconomics – Theory and Application – E.K. Browning and M.A. financing.
Zupan.
3. Modern Microeconomics – A. Koutsoyiannis. Books Recommended:
4. Economics – P A Samuelson and W D Nordhaus.. 1. Arnold, R A (2014): Economics, South Western Publishing Company,
Eleventh Edition
2. Mankiw, N G (2012): Principles of Economics, Thomson South Western
ECO105f/ ECO 105d/ ECO 105g/ ECO 105A/ ECO 105B/ ECO 105D/ Publishing, Sixth Edition
ECO105g/ ECO 105P PRINCIPLES OF ECONOMICS 3. Samuelson, P A and W D Nordhaus (2009): Economics, McGraw-Hill USA,
3 Hours/Week, 3 Credits Nineteenth Edition.
4. Todaro M P and S C Smith (2012): Economics of Development in the
1. Introduction to Microeconomics: Definition and scope; basic concepts and Third World, Longman, Eleventh Edition
tools—PPF and circular flow model; fundamental economic problems and solution 5. Meier, G M (1989): Leading Issues in Economic Development, Oxford
systems; Concepts of demand, supply and equilibrium; concepts of total and University Press, UK, Fifth Edition
marginal utility; concepts of production, cost and profit, characteristics of different
types of markets. List of Non-Major Courses
2. Introduction to Macroeconomics: Key macroeconomic indicators and their (Offered for other departments)
performance measurement - GNP, GDP, inflation, unemployment; money, functions
of money, function of commercial and central bank, monetary policy; ; fiscal policy Courses Credit Dept. Year/Session Course Title
and structure of govt. budget. ECO105b 03 BNG 1-1 Principles of Economics
3. Development and related issues: Growth and development; concept of poverty ECO 103e 04 PSS 1-1 Principles of Economics
and poverty measures; HDI; key human-socio-economic development indicators of ECO 105f 04 PAD 1-1 Principles of Economics
Bangladesh. ECO 105d 03 ENG 1-2 Principles of Economics
Recommended Books: ECO 105g 04 SCW 1-2 Principles of Economics
1. Arnold, R A (2014): Economics, South Western Publishing Company, Eleventh ECO103h 04 SOC 1-2 Principles of Economics
Edition ECO105A 03 ARC 1-2 Principles of Economics
2. Bangladesh Economic Review relevant issues. ECO105B 03 CEP 1-2 Principles of Economics
3. Mankiw, N G (2012): Principles of Economics, Thomson South Western
ECO103H 04 PME 1-2 Principles of Economics
Publishing, Sixth Edition
ECO101i 04 BUS 1-2 Principles of Microeconomics
4. Parkin, Michael (2015), ―Economics‖, 12th ed.
5. Samuelson, P A and W D Nordhaus (2009): Economics, McGraw-Hill USA, ECO104L 03 GEE 1-2 Economic elements in Geography
Nineteenth Edition. ECO105p 03 FES 2-1 Principles of Economics
6. Todaro M P and S C Smith (2012): Economics of Development in the Third ECO205Q 03 MEE 2-1 Principles of Economics
World, Longman, Eleventh Edition ECO101i 04 BUS 2-1 Principles of Microeconomics
ECO201O 04 STA 2-1 Principles of Microeconomics
ECO301M PRINCIPLES OF ECONOMICS ECO102i 04 BUS 2-1 Principles of Macroeconomics
Theory: 3 Hours/Week, 3.0 Credits ECO103a 03 ANP 2-1 Principles of Economics
1. Introduction to Microeconomics: Definition and scope, basic concepts and ECO105q 03 IPE 2-1 Principles of Economics
tools; economic problems-scarcity and resources; concepts of demand, supply and ECO105D 03 CSE 2-2 Principles of Economics
equilibrium; shifting of demand supply curves; concepts of total and marginal ECO105E 03 EEE 2-2 Principles of Economics
utility; concepts of production, cost and profit; characteristics of different types of ECO202O 04 STA 2-2 Principles of Macroeconomics
markets. ECO301M 03 MAT 3-1 Principles of Economics
2. Introduction to Macroeconomics: Definition; macroeconomic performance;
measuring national product and national income- GNP, GDP, NNP, NI; personal
disposable income; national and real GNP; inflation; money; functions of money;
function of commercial and central bank.