What is Economics? Meaning, scope and importance of statistics in Economics

Collection of data - sources of data - primary and secondary; how basic data is collected, with concepts of Sampling; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.

classify the data for further statistical analysis- distinguish between quantitative and qualitative classification, prepare a frequency distribution table, know the technique of forming classes, be familiar with the method of tally marking, differentiate between univariate and bivariate frequency distributions.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).


Measures of Central Tendency- Merits of Arithmetic mean, Demerits of Arithmetic mean, Merits of Median, Demerits of median, Merits of mode, Demerits of mode, Relation among mean, median and mode, Graphic representation of mode.

Measures of Dispersion - absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of range, co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning, construction and its application.

Correlation - meaning, scatter diagram; Measures of correlation - Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation.

Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Low level of economic development under the colonial rule- agricultural sector, industrial sector, foreign trade, demographic condition, occupational structure, infrastructure.

Indian economy 1950-1990- the goals of five year plans, agriculture, industry and trade, trade policy: import substitution.

Liberalisation, privatisation and globalisation : an appraisal, background, liberalisation, privatisation, globalisation, indian economy during reforms: an assessment.

Poverty- who are the poor?, how are poor people identified?, the number of poor in india, what causes poverty?, policies and programmes towards poverty alleviation, poverty alleviation programmes —a critical assessment.

Human capital formation in india- what is human capital?, sources of human capital, human capital and human development, state of human capital formation in india, education sector in india, future prospects.

Rural development- what is rural development?, credit and marketing in rural areas, agricultural market system, diversification into productive activities, sustainable development and organic farming.

Employment: growth, informalisation and other issues- workers and employment, participation of people in employment, self-employed and hired workers, employment in firms, factories and offices, growth and changing structure of employment, informalisation of indian workforce, unemployment, government and employment generation.

Infrastructure, what is infrastructure?, relevance of infrastructure, the state of infrastructure in india, energy, health.

Environment and sustainable development, environment — definition and functions, state of india’s environment, sustainable development, strategies for sustainable development.

Inflation: Demand Pull Inflation, Cost push inflation, Causes of Inflation, Ef fect of Inflation, Macro ­ On Economy, Policy measures to control inflation Monetary measures, Fiscal Measures, Physical or non monetary measures

Comparative development experiences of india and its neighbours- developmental path — a snapshot view, demographic indicators, gross domestic product and sectors, indicators of human development, development strategies — an appraisal.



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