MSS In Economics And Banking (MEB)
Proposed Syllabus
Master of Social Science in Economics & Banking
Department of Economics & Banking
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MSS in Economics & Banking
PROGRAM INFORMATION
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Name of the Program |
MSS in Economics & Banking |
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Department |
Department of Economics & Banking |
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Faculty |
Faculty of Business Studies |
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Total Credit Hours |
50 Credit Hours |
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Duration |
1.5 years (three semesters) for the students |
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having no economics background. |
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1 year (two semesters) for the students who |
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completed Honours in Economics or |
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equivalent |
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Total Cost |
Tk. 65,000 for 1.5 years |
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Tk. 45,000 for 1 year |
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Payable during admission |
Tk. 20,000 |
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Course Structure at a Glance
FIRST SEMESTER
Course Code |
Course Title |
Credits |
ECON- 0001 |
Principles of Economics |
3.00 |
ECON- 0002 |
Fundamentals of Mathematical Economics |
3.00 |
ECON- 0003 |
Statistics for Economists |
3.00 |
ECON- 0004 |
Principles of Econometrics |
3.00 |
ECON- 0005 |
Introduction to Islamic Economics & Banking |
3.00 |
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SECOND SEMESTER |
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Course Code |
Course Title |
Credits |
ECON- 5101 |
Advanced Microeconomics |
3.00 |
ECON- 5102 |
Advanced Macroeconomics |
3.00 |
MATH- 5101 |
Mathematics: Static & Dynamic Optimization |
3.00 |
FIN- 5101 |
Financial Economics in Islam |
3.00 |
ECON- 5103 |
Labor Economics |
3.00 |
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THIRD SEMESTER |
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Course Code |
Course Title |
Credits |
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Compulsory Courses |
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ECON- 5201 |
International Economics |
3.00 |
ECON- 5202 |
Economic Development |
3.00 |
BNKG- 5201 |
Monetary Economics & Banking |
3.00 |
ECOM- 5201 |
Advanced Econometrics |
3.00 |
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Comprehensive |
3.00 |
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Viva |
2.00 |
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Optional Courses ( Any one) |
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ECON- 5203 |
Products Design in Islamic Economic System |
3.00 |
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ECON- 5204 |
Resource and Environmental Economics |
3.00 |
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ECON- 5205 |
Managerial Economics |
3.00 |
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ECON- 5206 |
Thesis ( Thesis holders are exempted from viva) |
5.00 |
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EVALUATION SYSTEM
The course evaluation of the program will be as follows:
30% |
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Class Participation |
20% |
Final Exam |
50% |
The evaluation of Thesis will be as follows: |
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75% |
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Defense/ Presentation |
25% |
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Department of Economics & Banking
Program: MSS
Course Title: Principles of Economics |
Course Code: ECON- 0001 |
A. COURSE OBJECTIVES:
The purpose of this course is to provide students with a basic understanding of the economic theories and analytical tools that can be used in
B.COURSE CONTENTS:
ChapterTopic
Meaning of Economics: Positive vs. Normative Economics. The Economic
Problem: Scarcity, Choice, Allocation of Resources, Distribution of National Products, Production Possibility Frontier, Economic Efficiency, and Nature of Economic Theories- Micro vs. Macro Economics. The Functions of Micro Economic theory. Alternative Economic Systems- Planed Economic System, Market Economic System, Mixed Economic System, and Islamic Economic System.
The Demand Function, Determinants of Demand for a commodity, Demand curve- Movement along the Demand curve versus Shifts in Demand, Market Demand, Supply Function- Determinants of Supply- Movement along the Supply curve versus Shifts in Supply Curve, Market Supply, Market Equilibrium: Determination of Price and Quantity, Shifts in Demand and Supply and Effects on Market Equilibrium. Price Ceiling and Price Floor, Minimum Wage Legislation.
Concept of Elasticity, Elasticity of Demand, Various Concepts of Demand
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and its Uses, Elasticity and Revenue Relationship.
The Concept of Utility: Total Utility, Marginal Utility, Cardinal vs. Ordinal Utility.
a. Cardinal Utility Analysis- Marginal Utility and Law of Diminishing Marginal Utility,
b. Ordinal Utility Analysis: Indifference Curve analysis, The Marginal Rate of Substitution, Properties of Indifference Curve, The Budget Line, Consumer Equilibrium.
Production Function (PF),
Cost Function, Short Run
Concepts of Plant, Firm and Industry. Total Revenue, Average Revenue, Marginal Revenue and Profit Maximization.
Concept of Market, Different Types of Market Structure- Perfect Competition Vs
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Imperfect Competition.
a)Perfect Competition: Definition, Properties, Equilibrium of a Perfect Competitive Firm & Industry both in the
b)Imperfect Competition: Monopoly- Definition, Properties, causes of creating Monopoly, Monopolist’s equilibrium, Price Discrimination.
c)Monopolistic Competition and Concept of Oligopoly.
Macroeconomics, Distinguish from Microeconomics, Macroeconomic Policy: Different Concepts of Macroeconomic Policies- Keynesian Revolution, Monetarism Supply Side Economics, Rational Expectation Theory, Macroeconomic Performance: Key Indicators of Macroeconomics.
Meaning of national income, GDP at Market Price, GNP at Market Price, NNP at Market Price, NNP at Factor Cost, Importance of National Income Accounting, National Income And National Product, Nominal GDP VS Real GDP, National Income at Current and Constant Prices, Measurement of National Income, Numerical Example, Difficulties in the Measurement of National Income, Personal Income And Personal Disposable Income, National Income as a Measure of Welfare and Economic Progress, Circular Flow of National Income: Two, Three, And Four Sector Model And Closed Model, Business Cycle.
Consumption Function: Average and Marginal Propensity to Consume, Significance of Marginal Propensity to Consume, Savings Function, Derivation of Saving function from Consumption, Average and Marginal Propensity to Save, Relationship between APC and APS, Relationship between MPC and MPS. Keynes’ Theory of Consumption, Absolute Income Hypothesis, Relative Income
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Hypothesis, Permanent Income Hypothesis, and Life Cycle Hypothesis of Consumption.
National Income Determination, Keynesian Model, GNP Gap, The Concept of Multiplier – Investment Multiplier and Government Expenditure Multiplier , Diagrammatic Representation of Multiplier, Balanced Budget Multiplier, The Multiplier Process, Derivation of Multiplier, Importance of Multiplier, The multiplier and the MPC and MPS.
Meaning of Investment, Types of Investment, Determinants of Investment: Marginal Efficiency of Capital (MEC) and The Rate of Interest, Measurement of MEC, Investment Decision: MEC and PV Criteria, Investment Demand Curve, Mathematical Problems.
Introduction : Concepts of Fiscal and Monetary Policy , Instruments of Fiscal and Monetary Policy, Liquidity Trap and Effectiveness of Monetary policy, Crowding Out and Effectiveness of Fiscal policy , the Composition of Output and the Policy Mix , the Policy Mix in Action .
The Aggregate Demand Curve, Derivation of Aggregate Demand Curve, Shift in Aggregate Demand Curve, the Aggregate Supply Curve and its Different Shapes, Fiscal and Monetary Policy under Alternative Supply Assumptions.
Meaning of Inflation, Types of Inflation:
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Seasonal Unemployment, The Relation of Wage, Changes to Unemployment: The Phillips Curve.
The Balance of payment and Balance of Trade, Balance of Payments on current account, Balance of Payments on capital account, Market equilibrium and the Balance of Trade, The Balance of Payment and Exchange rate.
C. RECOMMENDED BOOKS:
1.Sloman, J., Garratt, D., & Wride, A., (2015). Economics. Ed. 8th, Pearson Education, Delhi, India.
2.Blinder, A., & Baumol, W., (1993). Economics: principles and policy. Ed. 13th, Cengage Learning, Boston, USA.
3.Samuelson, P.A. & Nordhaus, W.D, (2010), Economics, Ed. 19th, Tata McGraw Hill, New Delhi, India.
4.Maurya, M. L., (2002), Modern Microeconomics: Theory and Application, Manglam Publishers, New Delhi, India.
5.Koutsoyiannis, A. (1982). Modern microeconomics. Ed.2nd, Wiley, Netherland.
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Department of Economics & Banking
Program: MSS
Course Title: Fundamentals of Mathematical Economics |
Course Code: |
A. COURSE OBJECTIVES:
The course is designed to equip students with knowledge on different mathematical tools used in economics and business analyses. This course provides knowledge on primary mathematical formulas, rules, analysis, and their application in economics and business.
B.COURSE CONTENTS
1.Real number system
2.Set theory
3.Functions: Definition examples of function. Equation of straight line- gradient of straight line- intercepts. Solution of an equation in one variable. Simultaneous equation in two variables. Logarithmic functions, rule of logarithmic and exponential functions.
4.Function of more than two variables. Production functions,
5.Limits and continuity of functions– fundamental notion of a limit, definition of a limit- a single valued function- continuity of functions- smoothness.
6.Introduction to Matrix Algebra: Solution of Simultaneous Liner equation systems. Applications to Market.
7.National income and
8.Derivatives and their applications in economics: Their meaning and geometric interpretation, techniques of derivation, interpretation of the sign, and magnitude of derivatives. Meaning of partial derivatives, partial derivatives of function of more than more two variables.
9.Production function. Homogeneous function. Homothetic functions, properties of homogeneous functions. Linear Homogeneous production functions- Euler`s theorem. The concept of elasticity.
10.Differential and total derivatives. Techniques of total differentiation. Second order total differentiation. Application in comparatives static analysis.
11.Linear differential equation and difference equation- Elementary applications in Economic dynamics. Higher order differential equations. Maximum and minimum values. Points of inflection. Profit maximization problem.
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12.Constrained maximization and minimization- Economic application
13.Integrals and integration: Meaning of integration. Techniques of integration. Definite integration and indefinite integration. Relation between average and marginal concepts- examples from economics.
14.Linear programming.
15.Higher order differential equations.
C. RECOMMENDED BOOKS:
6.Chiang, A. C. & Wainwright, K., (2005). Fundamental methods of mathematical economics. Ed.
7.Allen, R. G. D., (1938).Mathematical analysis for economists (No. HB74. M3 A38). Macmillan, London.
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Department of Economics & Banking
Program: MSS
Course Title: Statistics for Economists |
Course Code: |
A. COURSE OBJECTIVES:
The course is designed to equip students with knowledge on different statistical tools used in business analysis. This course provides knowledge on primary statistical measurement, analysis, and its application in business. In this regard, this course will provide knowledge on data, frequency distribution, the central tendency, variability of data, correlation, and regression of data and probability. After completing this course, students will be able to analyze data for managerial
B. COURSE CONTENTS:
Chapters |
Topics |
Introduction: Origin, Historical background, Definition, Properties, |
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Limitation and Scope of Statistics, Business Statistics. |
Data: Data, Types of data, Variable, Classification, Tabulation, Frequency |
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distribution, Construction of a frequency distribution, Graphical |
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representation, Charts and Diagrams. |
Measures of central tendency: A.M., G.M., H.M., Median, Mode, Merits, |
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Demerits and Uses, Properties of A.M., Graphically determination of |
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median and mode, Quartiles, Deciles and Percentiles, Best average, |
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Examples regarding Business Application. |
Measures of variation: Definition, Objectives, Different Measures of |
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variability, Absolute and relative measures, Range, Average deviation, |
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Standard deviation, Quartile deviation, |
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measure of variation, Properties of standard deviation, Merits, Demerits |
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and Uses. |
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Skewness and Kurtosis: Definition, Measures of Skewness, |
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Measure of kurtosis, Moment. |
Correlation and Regression: Introduction, Correlation, Co- |
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efficient of correlation, Methods of calculating correlation, Scatter |
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Diagram, Rank correlation, Multiple and Partial correlation, |
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Regression Analysis, Difference between correlation and |
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regression, Estimation using the regression line, Multiple |
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Regression. |
Probability: Introductory ideas, History, Definition of various |
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terms, Elementary Set Theory, Notation, Laws of probability, |
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Probabilities under condition of statistical dependence and |
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independence, Bay’s probability. |
Probability Distribution: Random variable, Probability |
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distribution, Probability function- Probability mass function- |
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(Binomial PMF, Poisson PMF), Poisson approximation of |
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binomial PMF, Probability density function- Normal PDF, Normal |
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approximation of binomial PMF. |
Sampling & Sampling Distribution: Population, Sample, |
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Parameter, Statistic, Advantage of sampling, Non probability |
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sampling- sampling error, Probability sampling- (Simple random |
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sample, Systematic random sample, Stratified random sample, |
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Cluster sample), Sampling distribution of the mean (with & |
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without replacement), Central limit theorem. |
Introduction to Statistical Inference: |
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A. Estimation: Estimation, Estimator – Point & Interval estimator, |
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Estimate, Criteria for a good estimator, Interval estimation. |
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B. Hypothesis Testing: Determination of Sample Size, Steps of |
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Hypothesis Testing, Type I and Type II Error, One tailed & Two |
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tailed Test, Hypothesis Test for Population Proportion. |
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Additional Topics in Statistical Inference: |
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Square Distribution, Test on a Variance, |
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Tests for Independence. |
Time Series Analysis: Introduction to time series, Components of |
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time series, Method of semi average & moving Average, Trend |
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value. |
C. RECOMMENDED BOOKS:
1.Lind, D. A., & Marchal, W. G., (2014). Statistical Techniques in Business & Economics with Global Data Sets.
2.Anderson, S., Sweeney, D., Williams, T., Camm, J.D., & Cochran, J.J., (2014). Essentials of Statistics for Business and Economics, Ed. 7th. Stamford, USA
3.Gupta, PN, (2005). Comprehensive Business Statistics, Laxmi Publications, New Delhi, India
4.Wonnacott, R.J. & Wonnacott, T.H., (1984). Introductory Statistics for Business and Economics, Ed. 3rd, Wiley, Netherland.
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Department of Economics & Banking
Program: MSS
Course Title: Principles of Econometrics |
Course Code: |
A. COURSE OBJECTIVES:
This course develops students’ ability to understand the preliminary econometrics concepts, and analyzing as well as using theoretical knowledge to reach econometric solutions of the problems. This course also develops students’ ability to use their gathered knowledge for further econometric treatments.
B. COURSE CONTENTS: |
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Chapter |
Topic |
1Review of
2Introduction to Econometrics: What is Econometrics- Deterministic and Stochastic Models- Reasons for including the disturbance term- Estimates and Estimators. Interpreting a regression equation.
3Criteria for Estimators: Computational costs, Least squares, Highest R2 , BLUE properties, Mean square error, Asymptotic properties, Maximum likelihood, Monte Carlo Studies.
4The Classical Linear regression Model: Assumptions, The OLS estimators, derivation of OLS Estimator in a Linear Regression Model, Properties of OLS Estimator. Estimating population parameters of a Regression Model, Tests of population parameters.
5Specification Errors: Consequences of incorporating incorrect set of independent variables.
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7Multicollinearity: Definition –
C. RECOMMENDED BOOKS:
1.Chiang, A.C., (1974), Fundamental Methods of Mathematical Econometrics, Ed. 2nd , McGraw Hill, New Delhi, India
2.Koutsoyiannis, A., (1979). Theory of Econometrics, Harper and Row publishers, Incorporated, New York.
3.Kmenta, J., (1977). Elements of Econometrics, 2nd Ed., MacMillan Company. New York.
4.Wonnacott, R.J. & Wonnacott, T.H., (1984). Introductory Statistics for Business and Economics, Ed. 3rd, Wiley, Netherland.
5.Gujarati, D.N., (1988). Basic Economerics, Ed. 2nd , McGraw Hill, New Delhi, India
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Department of Economics & Banking
Program: MSS
Course Title: Introduction to Islamic Economics and Banking |
Course Code: |
A. COURSE OBJECTIVES:
The aim of this course is to provide a conceptual framework of Islamic economics. This course is designed to enable students to understand how Islam and Islamic worldview permeate all aspects of life including economics. The basic premise of this course is that the study of Islamic economics proceeds from the Islamic worldview, and is developed according to a methodology that is founded upon this worldview.
B.COURSE CONTENTS: |
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Chapters |
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Topics |
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Introduction: Definitions, |
development of |
Islamic |
economic |
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thought, basis of Islamic economics, goals or objectives of Islamic |
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economics, assumptions of |
Islamic economics, main |
sources of |
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knowledge of Islamic economic study, importance of Islamic |
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economics. |
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Comparative Economic System: Laissez – faire economy, market |
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economy, command economy, mixed economy, differences between |
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Islamic economy and capitalist economy. |
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Consumer Behavior in Islam: Some basic concepts – characteristics |
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of consumer in an Islamic economy, differences between capitalist |
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and Islamic consumer's behavior, |
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Objectives of consumption in Islam, Theory of consumer behavior in |
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Islamic economics – model of Monzer Kahf and its differences with |
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conventional theory of consumer behaviour. Derivation of Final |
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Spending Function, Shifts in the Final Spending Function. |
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The theory of production in Islam: Objectives of production , the |
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goals of the firm, differences between firms in an Islamic society and |
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in a |
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profit share in Islam, Islamic perspective on market prices and |
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allocations– objectives, Islamic approach to market prices – Islamic |
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pricing policy- Three policy options, need vs demand, Islamic theory |
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of effective |
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and market mechanism. |
Trade and Commerce in Islam: Basic principles, Barter trade, |
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Monopoly business, Speculative business, International trade and |
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dumping. |
Market structure in Islam: Monopoly market and Islam– |
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characteristics of a monopolist in Islam, |
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a monopoly market in an Islamic perspective, price discrimination and |
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Islam, Covering Loss through price discrimination, Oligopoly market |
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and Islam- definition of oligopoly market and its characteristics, kink |
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demand curve in an oligopoly market and Islamic perspective, Profit |
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maximization and sales maximization, Satisfying behaviour, |
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Advertising in Islam. |
Consumption function in Islam: Concept of consumption in Islam, |
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consumption function in Islam– its nature and scope in an Islamic |
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economy– model of M. A. Mannan, determinants of Islamic |
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consumption function– debates regarding APC and MPC, expected |
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desirable income hypothesis and consumption. |
Islamic banking system: Definition of Riba, different concepts about |
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Riba, characteristics of riba, types of riba, reasons behind prohibition |
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of riba, concept of Islamic banking, emergence of Islamic banking |
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system, features of Islamic banking, objectives of Islamic banking, |
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differences between traditional banking and Islamic banking, sources |
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of funds of Islamic bank, financing systems of Islamic bank. |
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Public finance in Islam – Zakat : Zakat and Islam – what is zakat |
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and why is zakat needed? differences between sachet and capitalist tax |
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system, items of sachet, nasal and the rate of sachet, objectives of |
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sachet – moral, religious and |
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role of state in sachet collection and distribution |
Prices in Islamic State: Introduction, Basis of Islamic theory of |
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prices, Modern prices: Monopoly price, Real rise in price, artificial |
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rise in prices, Rise in Prices of Necessaries of life. |
Insurance and Gambling In Islam: Insurance in Islam, Is insurance |
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Law of inheritance in Islam and its significance. |
C. RECOMMENDED BOOKS:
1.Mannan, M. A., (1984). The making of Islamic economic society: Islamic dimensions in economic analysis. International Association of Islamic Banks.
2.Abdul, M. (1993). Islamic Economics: Theory and Practice.
3.Iqbal, M., & Molyneux, P. (2005). Thirty years of Islamic banking: history, performance, and prospects. Palgrave Macmillan, USA
4.Haneef, M. A. (1995). Contemporary Islamic Economic Thought: A Selected Comparative Analysis. Alhoda UK.
5.Askari, H., Iqbal, Z. & Mirakhor, A., (2014). Introduction to Islamic Economics: Theory and Application, Wiley, Netherland.
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Department of Economics & Banking
Program: MSS
Course Title: Advanced Microeconomics |
Course Code: ECON- 5101 |
A. COURSE OBJECTIVES:
This course aims at providing a view of most of the core materials and some of the frontiers of microeconomics in its different dimensions. This course is intended to introduce the students with a rigorous treatment of microeconomic theory.
Prerequisites
The knowledge of undergraduate level microeconomics is necessary. Compare to undergraduate level microeconomics, this course uses more mathematical methods. Therefore, basic knowledge of Calculus, Linear Algebra and Probability Theory are required.
B. COURSE CONTENTS:
ChapterTopic
Chapter
Chapter
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Firm Behavior:
Chapter
Chapter
Chapter
C. RECOMMENDED BOOKS:
1.
2.Varian, H.R., (1992) Microeconomic Analysis, W. E. Norton & Company, Inc: New York.
3Geoffrey A. Jehle and Philip J. Reny (2011) Advanced Microeconomic Theory,
4Henderson, J. M. & Quandt, R. E. (1981) Micro Economic Theory, MC Grew Hill Company: New York.
5Layard, P.R.G., and Walters, A. A., (1978) Micro Economic Theory, MC Grew Hill Company: New York.
6Deaton and Muellbaur (1980) Economics and Consumer Behavior, Cambridge University Press: Cambridge.
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Department of Economics & Banking
Program: MSS
Course Title: Advanced Macroeconomics |
Course Code: ECON- 5102 |
A. COURSE OBJECTIVES:
This course aims at providing a view of most of the core materials and some of the frontiers of macroeconomics in its different dimensions. This course is intended to introduce the students with an in depth treatment of macroeconomic theories and tools.
B. COURSE CONTENTS:
Chapter |
Topic |
Chapter |
Macroeconomics in an open Economy: Mundell- Fleming Model and Some |
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Extensions, Baseline MF Model, Large Country Case, Insulation and MF Model, |
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The Case of Imperfect and No Capital Mobility, J Curve Effect and the MF Model, |
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Wealth Effect and the MF Model, |
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International Policy Coordination. |
Chapter
Chapter
Chapter
Chapter
Chapter
Chapter
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Chapter
Chapter
C. RECOMMENDED BOOKS:
1.Mankiw, N. G., (2010) Macroeconomics, Worth, Ed. 7th , New York, USA
2.Dornbusch and Fishcer (2005), Macroeconomics, Ed. 6th ,
3.Mishkin, F. S. (2007), The Economics of Money Banking and Financial Markets, Prentice Hall PTR,
4.Branson W.H., (1972), Macroeconomic Theory and Policy, Harper & Row, Mishawaka, U.S.A.
5.Paul, H.C. & Ronald, M., (2000), International Money and Finance, Ed. 3rd, Willy,Netherland.
6.Olivier, B., (2007), Macroeconomics, 4th Edition, Pearson Education, New Delhi, India
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Department of Economics & Banking
Program: MSS
Course Title: Mathematics: Static & Dynamic Optimization |
Course Code: MATH- 5101 |
A. COURSE OBJECTIVES:
The fundamental aim of this course is to provide students with knowledge about mathematics: static & dynamic optimization. This is a graduate course which aims to provide a view of mathematical aspects of optimization in basic economic theories. This course helps students understand the concepts of basics of Static & Dynamic Optimization.
B. COURSE CONTENTS:
Chapter |
Topic |
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Complete and Partial Ordering.
Accumulation.
C. RECOMMENDED BOOKS:
1.Akira, T., (1985), Mathematical Economics, Cambridge University Press: Cambridge
2.Chiang, A.C., & Wainwright, K., (2005), Fundamental Methods of Mathematical Economics, Ed. 4th,
3.Allen, R.G.D (2008), Fundamental Methods of Mathematical Economics, London School of Economics, UK
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Department of Economics & Banking
Program: MSS
Course Title: Financial Economics in Islam |
Course Code: FIN- 5101 |
A. COURSE OBJECTIVES:
The purpose of this course is to provide students with an understanding of the financial economic with the specific perspective of Islamic theories that can be used in
B. COURSE CONTENTS: |
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Chap |
Topic |
ter |
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1.Brief Introduction to Conventional Economic System and Financial System: Conventional Economics based on Capitalism, Socialism, Communism and Secularism, Structure of Financial System, Financial Instruments, Financial Institutions and Financial Markets and their Classifications – Principle/Characteristics, Objectives, Functions/ Importance/ Role of a Conventional Financial System and each of the types of Financial Instruments, Financial Institutions and Financial Markets in a Conventional Economy. Outcomes of Conventional Economic and Financial System.
2.Fundamental Prohibited Elements in Islamic Finance: Riba / Interest in Islam, Prohibition of Riba, Gharar and Maysir (Gambling), the Concept, Characteristics and Classification of Riba/ Interest- Interest and Profit – Interest and Rent- Capitalists’ Arguments in Favour of Interest- Social, Moral, Economic, and Political Demerits of Interest- Views of Different Philosophers and Religions Regarding Interest- Islamic Viewpoint on Interest in the Light of the Teachings of the Holy Quran and
3.An Introduction of Islamic Economic System and Financial System: Objectives of an Islamic Economy, The Concept and Structure – Islamic Financial Instruments, Islamic Financial Institutions and Islamic Financial Markets and their Classification and Structures – Principle/ Characteristics, Objectives, Functions/ Importance/ Role of an
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Islamic Financial System and Each of the Types of Islamic Financial Instruments, Islamic Financial Institutions and Islamic Financial Markets in an Islamic Economy- Difference/ Comparison between Islamic Financial System and Conventional Financial System- Requirement of Successful Implementation of Islamic Financial System.
4.Shariah Contracts for Islamic Financial Instruments: Elements of Shariah Contracts- Form, Subject Matter and Contracting Parties of the Contract, Classification of Shariah Contracts- Exchange based, Charity based, Waiving based, and Partnership based Contracts, Concept of Exchange based Contracts Such as Bay
5.Money Market: Introduction, Money Market Participants, Money Market Instruments, Functions of a Money Market, Differences between Islamic and Conventional money Markets, Trading of Islamic Money Market Instruments.
6.Capital Market: Bond Market, Sukuk Market and Equity Market: Definition of Bond, Treasury Bond, Municipal Bond, Corporate Bond, Definition of Sukuk, Origin of Sukuk, Role of Shariah Framework in Sukuk Structuring, Sukuk Structures: Sale, Lease and Equity Based Sukuk. Issues, Opportunities and Challenges in the Sukuk Market. Definition Equity Market, The Characteristics of Islamic Equity, Shariah Permissibility of Secondary Market Trading, Islamic Equity Market Instruments such as Shares or Stocks, Preference Shares, Stock Index Futures and Short Selling, Shariah Screening of Shares, Sector Screening, Financial Screening, Dividend Purification and Issues in Shariah Stock Screening, Issues, Opportunities and Challenges, Speculation in Equity Markets.
7.Commercial Banking under an Islamic Framework: Concept, Characteristics, Objectives, Functions/ Role/ Importance of Conventional Commercial Banking- Rationale of Islamic Banking: Concept, Characteristics, Objectives, Functions/ Role/ Importance of Islamic Banking, Comparison between Conventional Banking and Islamic Banking, Establishment, Growth and Performance of Islamic Banks in Bangladesh: Genesis of Islamic Bank- Organizational Structure- Objectives, Characteristics, Functions- Modes of Financing- Role and Contribution of Islamic Banks in the Economy of Bangladesh- Poverty Alleviation and Islamic Banks: The Rural Development Schemes- Issues and Problems of Islamic Banking. A critical appraisal of the role of Bangladesh Bank with regard to the promotion of Islamic Banking- Problems and Prospects of Islamization of Banking in Bangladesh.
8.Modes of Financing and Management of Fund by Islamic Bank: Sources of Funds – Savings, Current, Term Deposit and Investment Deposit – Mudarabah General Investment Deposit, Wakalah Restricted and Unrestricted Investment Deposit and Mudarabah Special Investment Deposit, Underlying Contracts for Savings and Current
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Deposit, Quard based Deposit, Mudaraba Deposit (Restricted and Unrestricted).
Uses of Funds- Islamic Retail Financing, Automobile Financing, Personal Financing under Bai Al Inah and Tawarruq, Rahn Personal Financing, Islamic Credit Cards, Corporate Financing- Sale based, Lease based, Working Capital Financing, Islamic Trade Financing Instruments and Practices- Letter of Credit, Trust Receipt, Accepted Bills, Bank Guarantee, Shipping Guarantee, Comparison between Conventional and Islamic Trade Finance.
9.Central Banking and Monetary Management under Islamic Framework: Definition, Characteristics, Objectives, Importance/ Role/ Functions of a Conventional Central Bank- Monetary Policy and Monetary Management by a Central Bank in a Conventional Economy and in an Islamic Economy, Monetary Policy Instruments such as Required Reserve Ratio, Discount or Bank Rate, Open Market Operation and Islamic Monetary Policy Instruments, The case of Control Measures- Goals, Instruments and Operations- Comparative Study.
10.Insurance in Islam: Definition, Characteristics, Objectives and Importance of Conventional Insurance- Criticisms of Conventional Insurance from Islamic View point and Justification for an Islamic Insurance(Takaful)- Concept, Objectives, Characteristics of Islamic Insurance- Historical Development of Takaful, Operational Framework of Takaful, Classification of Takaful Operations, Underlying Contracts in Takaful, Comparison between Conventional Insurance and Islamic Insurance with Special Reference to Life Insurance and Lessons for the Islamization of insurance in Bangladesh, Issues, Opportunities and Challenges - Shariah Issues in Takaful.
C. RECOMMENDED BOOKS:
1.Dusuki, A.W., (2011) Islamic Financial System Principles and Operations, International Shariah Research Academy for Islamic Finance(ISRA), Malaysia
2.Sethi T. T., (1999), Money, Banking and International Trade. New Delhi: Sultan Chand (pp.
3.Kabir, M.H., (2003), Islamic Banking, Islamic Economic Research Bureau
4.Sharif, H.M., (2003), Islami Banking: Ekty Unnatatar Bank Babostha (Islami Banking: A Superior Banking System)
5.Vaish, M. C., (1985), Money, Banking and International Trade, 2nd Edition, New Age International (P) Limited
6.Rose, P.S., (2002), Commercial Bank Management, Ed. 5th,
28
Department of Economics & Banking
Program: MSS
Course Title: Labor Economics |
Course Code: ECON- 5103 |
A. COURSE OBJECTIVES:
This is a graduate course which aims to provide a view of economic analysis of labour market. This course helps students understand the concepts of demand for and supply of labour, labour market equilibrium, unemployment, inflation unemployment
B. COURSE CONTENTS:
Chapter |
Topic |
Chapter |
Introduction To Labor Economics: |
|
Definition of Labour Economics, Nature of Labour Economics, History and |
|
Evolution of Labour Economics. |
Chapter
A. Quantitative Aspect of The Labor Supply: Labor Force, Population, Natural Rate of Population Increase, Net Migration, Labor Participation, Business Cycles and Hidden Unemployment, Family Allocation of Labor, Labor Force Participation By Sex And Age, Hours of Work and The Supply of Effort, Basic Characteristics of Labor Force and Nature of Labor Force Participation in Bangladesh.
B.Qualitative Aspects of the Labor Supply: Human Capital Approach: Education and Training as Investments. On the Training, General Training, Specific Training. Empirical Evidence, Challenge to Human Capital Approach- Dual Labor Market Theory, Internal Labor Markets and Specific Training, Primary and Secondary Labor Markets, Policy Implications of Dual Labor Market Theory. Neomarxian (Radical) Perspective of the Labor Market, Radicals and Public Policy. A Critique of Radical View.
Chapter
A. Marginal Productivity Theory in Competitive Market: Nature and Uses, Theory of Demand for Labor, Derivation of Demand Schedule, Interpreting Short Run Demand Schedule, Demand for Labor in Long, Market Demand Schedule and Minimum Wage Laws, Role of The Demand for the Final Product, Demand for Labor in Economy as a Whole.
29
B. The Demand for Labor in
Chapter
Chapter
Chapter
Chapter
Chapter
Chapter
A.Introduction to Human Resources.
B.Education: Investment in Human Capital, Rate of Return on Investment in Education. Educational Investment in Developing Countries, Investment in Social Infrastructure, Education and Employment, Education as a Public Policy in Bangladesh.
C.Health and Nutrition: Health as an Investment, Human Capital and Demand for Health, Disease and Labor Productivity, Health Policy for Developing Countries, Nutrition Objectives, Food and Nutrition
30
Planning, Health Policy of Bangladesh Government.
D.Entrepreneurship: Situation in Bangladesh.
E.Migration: Harris Todaro Type Models of Internal Migration, Migration and Metropolitan Growth, Intervening Opportunities and Migration, Cost and Return of Human Migration. Interrelation between Migration and Fertility in Spatial Distribution of Population, Pattern, Cause, and Consequences of Internal Migration in Bangladesh.
Chapter
Chapter
C. RECOMMENDED BOOKS:
1.Ress, A., (1984), The Economics of Work and Pay, Ed. 3rd, AGRIS and FAO
2.Marshall, F.A., King, A.G. & Briggs, V.M., (1980), Labor Economics: Wages, Employment and Trade Unionism.,
3.Hicks, J.R ., (1963), Theory of Wages., Martin's Press, New York, USA
4.Bowen, W.G., & Finegan, A.T. (1969), The Economics of Labor Force Participation, agris.fao.org
5.Cain, G.G., (1966), Married Woman In The Labor Force: An Economic Analysis
6.Gray, S. B., (1993), Human Capital, Ed. 3rd , University of Chicago Press, USA
7.Gordon, D.M., (1973), Theories of Poverty and Unemployment, Lexington, Mass.: Lexington Books
8.Reynolds, L.G., (1951), , The Structure of Labor Markets. Harper,USA
31
Department of Economics & Banking
Program: MSS
Course Title: International Economics |
Course Code: |
A. COURSE OBJECTIVES:
This course aims to provide a view of most of the core materials of international trade and finance. This course is designed to introduce students with advanced concepts of international economics. Modern and advanced trade theories got substantial focus in this course.
B. COURSE CONTENTS:
ChapterTopic
Chapter
A. Patterns of Trade
Ricardian Model
B. International Trade in Intermediate Goods
Intermediate Goods Trade and production Possibilities, Newly Industrialized Countries and Foot Loose Production Process, Foot Loose: Inputs; the Role of Comparative and Absolute Advantage.
C. Imperfect Competition and International Trade
Export Cartels and Commodity Agreements, Monopoly, Monopolistic Competition and International Trade, Effects of Oligopoly
D. Migration and Capital Flows
Chapter
A.Gains from Trade: Single Country vs. World Tariffs and Quotas, Taxes and Subsidies
B.Optimal Policy Intervention in The Presence of Domestics Distortion,
C.Trade from the Regional and International Point of View, Theory and Practices of Uniform vs. Preferential Tariff Reduction.
D.Trade Policies of Developing Countries: Domestic Resources Costs and Effective Rates of Production- Multinational Companies.
E.Multilateral Trade Agreement, Intellectual Property Rights and World Trade organizations- Region and
32
Chapter
Chapter
A. The Balance of International payments: Disequilibrium and Adjustment Mechanism- Exchange Rate, Price Levels and Capital Movement. International Financial Markets; Foreign Exchange Markets, Arbitrage, Vehicle Currencies, Short Term Capital flows, Euro, Dollar and Efficiency of International Capital Markets.
B. Macroeconomic policies in an Open Economy: Choosing Between
C. International Reserves and Liquidity; Demand for Supply of Reserve.
C. RECOMMENDED BOOKS:
1.Johnson. HG (1958), . International trade and Economic Growth, Cambridge Mass, Harvard University press,.
2.Meade, J.E, (1951), The Balance of Payments, Mathematical Supplement, London, Oxford University Press,
3.Richard E. Caves Ronald W. Jones (1981) world Trade and payments: An Introduction, 3rd Ed. Little Brown and Company,.
4.Hockmen Bernard. M. (1995), Trade Laws and institutions, Good Practices and The World Trade Organization, , World Bank Discussion Papers
5.Center for Policy Dialogue (1996),. Growth or Stagnation? A review of
Bangladesh’sDevelopment,universitypressltd.Dhaka,Bangladesh.
6.Franklin R. root (1990), , International Trade and investment , 6th Ed, , south Western Publishing company, Cincinnati, Ohio, USA
7.Ponciano S. intal. Jr. And Gerald C. Nelson, Ed.( 1993), Readings In International Trade Theory, Policy and Development, First Ed.. Winrock International institute of Agricultural Development,1600 Pasig, Manila, The Philippines
8.Dominic Salvatore (1983), International Economics, Macmilian Publishing Co. Inc. New York,
33
Department of Economics & Banking
Program: MSS
Course Title: Development Economics |
Course Code: |
A. COURSE OBJECTIVES:
This course aims to provide various dimensions of economics in analyzing development theory and policy. This course acquaints students with different growth models.
B. COURSE CONTENTS:
ChapterTopic
Chapter
Chapter
|
Harrod- Domar Model. |
|
Chapter |
Land and |
|
|
Extensions, |
|
|
Modifications and Criticisms. Some Case Studies of Dualism: India, Thailand, |
|
|
South Korea, Taiwan, and Bangladesh. |
|
Dependency Theories: Origins and Early Views. Dependency: Transnationalism |
||
|
and World System. Dependency: Criticisms, Revisions and Assessment. Case |
|
|
Study of Dependency: Latin |
|
|
Amin and Paul A. Baron regarding Dependency Theory. |
|
Chapter |
||
|
of Technique and Employment; the Treatment of Technological Progress in |
|
|
International Trade Theory; Mechanism and Impact of Technology Transfer on |
|
|
LDCs: Appropriate Technology Debate. |
|
Chapter
34
Interpretation of New International Economic Order.
Chapter
Chapter
Chapter
C. RECOMMENDED BOOKS:
1.Wilber, C. K., (1988), The Political Economy of Development and Underdevelopment.
2.Colman, D. & Nixson, F.I., (1986), Economics of Changes in Less Developed Countries., Rowman & Littlefield.
3.Todaro, M.P., (1992), Economics for a Developing World, Ed. 3rd, Pearson Education, NY, USA.
4.Gérard Roland (2014), Development Economics, Ed. 1st, Pearson Education, NY, USA.
5.Michael Todaro, Stephen Smith (2014), Economic Development, Ed. 12th, Pearson Education, NY, USA.
6.BH Higgins (1959), Economic Development: Principles, Problems and Policies., agris.fao.org
35
Department of Economics & Banking
Program: MSS
Course Title: Monetary Economics and Banking |
Course Code: |
A. COURSE OBJECTIVES:
This course is designed to equip students with knowledge on Central Banking and its functions,
monetary policies and monetary management, risk management, etc. This course will provide
knowledge about how to implement polices to determine supply of money for stabilizing inflation and output.
B. COURSE CONTENTS:
Chapters |
Topics |
Introduction to Central Banking: Central bank in the financial system, |
|
|
Evolution, Characteristics, Objectives, Philosophy & Functions of Central |
|
Bank, Relationship between Central Bank & Govt., Central Bank & |
|
Commercial Banks, Modern Central Banking, Autonomy of Central Bank, |
|
Separation between supervisory & Monetary Authorities. |
Supervision of Financial Institutions: Theory, Objectives & Agencies of |
|
|
Bank Regulation, Methods of Bank Regulation, On site & Off Site |
|
(CEMELS Rating), Deposit Insurance & Bank Failures, Risk Management |
|
& Internal Control Mechanism, Basic Guidelines on Bank Supervision, |
|
Supervision of Non Banks& Other Financial Institutions. |
Monetary Policy: Money & its Functions, Demand for & Supply of |
|
|
Money, Multiple Deposit Creation, Determinations of Money Supply, |
|
Monetary Base & Money Multiplier, Conduct of Monetary Policy Tools, |
|
Targets, Goals & Monetary Transmission Mechanism. |
Central Banking & Monetary Management in Bangladesh: Bangladesh |
|
|
Bank |
|
Exchange & Reserve Management: Exchange Rate Policy, |
Fixed & Floating Rate, Relationship with International |
|
|
Monetary Intuitions, Foreign Currency Investment. |
C. RECOMMENDED BOOKS:
1.Smith & Gray (1991), Money , Banking & Financial Intermediation, D.C. Heath
2.Ahmed, A.K.N, (1995) Deregulation & Central Bank Autonomy, University Press Ltd, Dhaka
36
Department of Economics & Banking
Program: MSS
Course Title: Advanced Econometrics |
Course Code: ECOM- 5201 |
A. COURSE OBJECTIVES:
This course develops students’ ability to conduct independent research. The course is designed to be taught together with statistical software so that students face no problem in performing empirical studies.
B. COURSE CONTENTS:
ChapterTopic
37
C. RECOMMENDED BOOKS:
1.HIll, C.R., Griffiths, W.L., & Lim, G.C., (2011), Principles of Econometrics, Willy, New York, USA,
2.Koutsoyiannis, A. (2001), Theory of Econometrics, Ed. 2nd , Palgrave Macmillan Limited
3.Kmenta, J., (1971), Elements of Econometrics, Macmillan
38
Department of Economics & Banking
Program: MSS
Course Title: Comprehensive |
Course Code: |
Guideline: Students have to appear in a Comprehensive examination at the end of third semester. Comprehensive examination includes the courses of Microeconomics, Macroeconomics, Econometrics, and Finance & Banking. The test is aimed at examining students’ knowledge on basic concepts of economics and banking. Econometric tools are of immense need for conducting research in social science and business. Comprehending the need of research, the course Econometrics has also been included in Comprehensive examination.
Marks Distribution |
|
Microeconomics |
25% |
Macroeconomics |
25% |
Finance & Banking |
25% |
Econometrics |
25% |
Total |
100% |
39
Department of Economics & Banking
Program: MSS
Course Title: Products Design in Islamic Economic System |
Course Code: |
A. COURSE OBJECTIVES:
The fundamental aim of this course is to provide students with knowledge about the products formation and their marketing in an Islamic economic framework. Conventional economics does not care about the merit of the products regarding its social cost. There may have products that generate huge profit to the producers but at the same time those products do harm to the individuals and to the society. Present course takes account of the normative aspects of product marketing. Also the course focuses means of investment in an Islamic economic system.
B. COURSE CONTENTS:
Chapters |
Topics |
General Theory of Contract: Definition of Contract, Prerequisites of |
|
|
Contract, Subject Matter of Contract, Types of Shariah Contract, The |
|
Prohibited Elements in Shariah Contract. |
Usury/ Interest (Riba), Ambiguity (Gharar): Riba, Prohibition of |
|
|
Riba, Types of Riba, Gharar and its Prohibition, Gharar and Settlement |
|
Risk, Difference between Gharar and Jalah, Maysir and its Prohibition |
Sale |
|
|
Contract, the Required Condition of Sale Contract, Classification of |
|
Sale Contract, Unlawful Sale Contracts. |
|
Definition of Istisna, Comparison between Bay’ Salam and Bay’- |
|
Istisna. |
Loan |
|
|
Muzabanah Trade. |
Lease Contract and Promise of Reward: Legal Status of Ijarah, |
|
|
Suftajah, Pillars of Ijarah |
Partnership Contract: Legal Foundation of Musharakah, |
|
|
Classification of Shirkah (Partnership), Management of Musharakah, |
|
Distribution of Profit, Guarantee in Musharakah Investment, |
|
Termination of Musharakah |
|
Mudarabah, Restrictedd Mudarabah, Guarantees in Mudarabah |
|
Contract |
Deposit Contract: Definition of |
|
|
40 |
|
Wadiah, Duties and Powers of the Mudarib |
Agency Contract: Wakalah, Consensus of the Ummah, Legal Status of |
|
|
Kafalah, Elements of Kafalah, Conditions of Kafalah |
C. RECOMMENDED BOOKS:
1.Ajijola, A. D., (1989), Introduction to Islamic Law, (New Delhi, International Islamic Publishers)
2.Muhammad, A., (2007), Understanding Islamic Finance (Sussex: John Wiley and Sons)
3.Yousuf, s.m., (2009), An Introduction to the Theoretical Foundations of Islamic Transactions (K. L.:Ilmiah Publishers)
4.
41
Department of Economics & Banking
Program: MSS
Course Title: Resource and Environmental Economics |
Course Code: |
A. COURSE OBJECTIVES:
The fundamental aim of this course is to provide students with knowledge about resource economics that is related to the environment. Students will be able to understand how the environmental resources are saving the lives of the people and follow the strategies to keep the ecological balance.
B. COURSE CONTENTS:
Chapters |
Topics |
Resource Economics: Introduction- A Resource Taxonomy, |
|
|
Efficiency, |
|
Transition to a Renewable Substitutions; Exploration and |
|
Technological Progress, Market allocations- Appropriate Property |
|
Rights Structures |
Resource Economics: Resources: Energy, Water, Agriculture, Forests |
|
|
and Wildlife. Economic Perspective of the Environment as an Asset, |
|
Valuing the Asset. |
Introduction to Ecology and Ecosystem: Property Rights and |
|
|
Environment, Efficient Property Rights Structure, Scarcity Rent, |
|
Externalities as a Source of Market Failure, Improperly Designed |
|
Property Rights Systems- Common Property Resources- Public Goods, |
|
Imperfect Market Structures, Divergence of Social and Private |
|
Discount Rates, Government Failure- The pursuit of Efficient – Private |
|
Resolution Through Negotiation- Courts. Property Rules and Liability |
|
Rules Legislative and Executive Regulation an Efficient Role for the |
|
Government. |
Valuing the Environment: Introduction, Benefit Cost Analysis- |
|
|
Decision Rules- Measuring Benefits, Use Values, Nonuse values, |
|
Appropriate to Cost Estimation, Treatment of Risk, Choosing the |
|
Discount Rate, Critical Appraisal Cost, Effectiveness Analysis, and |
|
Impact Analysis. |
Coping with Environmental Pollution: Pollutant Introduction, |
|
|
Pollutant Taxonomy, Defining the Efficient allocation of Pollution, |
|
Fund Pollutants, Market allocation of Pollution, Efficient Policy |
|
Responses, and Cost- Effective Policies for Emission Reduction, A |
|
Cost effective Allocation, Policies Emission, Standards, Emission |
|
42 |
Charges, Transferable Emission Permits, Other Policy Dimensions.
C. RECOMMENDED BOOKS:
1.Tietenberg, T., (1994), Environmental Economics and Policy, Harper Collins College Publishers
2.Tietenberg, T., (1992), Environmental and Natural Resource Economics, Harper Collins College Publishers
3.Markandya, A.; Richardson, J., (1992), The Earthscan Reading in Environmental Economics,, , London, UK
4.Johan M.C. & Clark, C.W., (1987), Natural Resources Economics: Note and Problems, Cambridge University Press, Cambridge, UK.
5.Anthony, F.C., (1981), Resource and Environmental Economics, Cambridge University Press, Cambridge, UK.
6.Michael A.T., (1986), Depletion effects and nonrenewable and Resourcesupply” Land Economics
7.Anders, Gerhard W.Phillip Granmm, S. Charles Maurice and Chases W.W. Smithson (1980), The Economics of Mineral Extraction New York, Prager Publishers, NY, USA.
43
Department of Economics & Banking
Program: MSS
Course Title: Managerial Economics |
Course Code: |
A. COURSE OBJECTIVES:
In today’s dynamic economic environment, effective managerial decision
making requires timely and efficient use of information. The purpose of this course is to provide students with a basic understanding of the economic theory and analytical tools that can be used in
B. COURSE CONTENTS: |
|
Chapter |
Topic |
Effect on market equilibrium price and quantity due to change in income or imposition of tax on seller.
44
Elasticity: Definition, Types- Price, Income and Cross elasticity of demand, Price |
||
|
Elasticity and Decision |
|
|
revenue |
and elasticity, Mathematical Problems, Income Elasticity and Decision |
|
Making, Mathematical Problems, Cross Elasticity and Decision Making, |
|
|
Mathematical Problems. |
|
Regression Analysis: Demand Estimation: Statistical Relations and Regression |
||
|
Analysis, Measuring Economic |
|
|
and |
|
|
equation, Estimation of multivariate |
|
|
function, |
Forecasting, The Business Cycle, Time Series |
|
measurement of linear trend equation and growth rate and making prediction. |
|
|
studying |
|
|
analysis, |
Assumptions of the model , Input coefficient, Input coefficient matrix, Final |
|
demand vs. intermediate demand, finding optimal output levels and total primary |
|
|
input requirements by inverse rule and Cramer’s rule |
|
Production and Cost: Theory of |
||
|
||
|
diminishing marginal returns, optimal employment of a factor of production – |
|
|
theoretical, graphical and mathematical presentation. Optimal employment of a set of |
|
|
factors- theoretical, graphical and mathematical presentation. |
|
|
Cost and Profit Analysis- Concepts of TC, FC, VC, AFC, AVC, AC, MC, |
|
|
Incremental Costs and Sunk Costs. Relation between AC and MC. Finding AC |
|
|
Minimizing, AVC Minimizing, MC Minimizing Output Levels |
|
Market Structure: Categories and characteristics market, Perfect Competition- |
||
|
definition, characteristics, finding equilibrium price and quantity, mathematical |
|
|
presentation of |
|
|
Market- definition, characteristics, finding equilibrium price and quantity, |
|
|
mathematical presentation, Monopolistic |
|
|
finding equilibrium price and quantity, mathematical presentation, Oligopolies- |
|
|
definition, characteristics, finding equilibrium price and quantity, mathematical |
|
|
presentation. |
|
Regulating the Market Economy: Economies of Scale, Taxes and Subsidies, Costs |
||
|
of Regulation |
|
Project Decisions: Decision Making under Uncertainty: Risk Analysis |
45
C. RECOMMENDED BOOKS:
1.Petersen, H.C. & Lewis, W.C., (1994), Managerial Economics, Ed. 3rd, Macmillan Publishing Company, USA.
2.Hirschey, M., (2003), Managerial Economics, Ed. 10th,
3.Chiang, A. C., (1984),Fundamental Methods of Mathematical Economics, Ed. 3rd,
46
ECON
The students will be required to write a Master thesis related to economics and banking. The thesis may be an empirical or descriptive work in nature but it must meet the requirement of a scientific paper which is publishable in a reputed journal. Students will be required to defend their research findings before an academic audience.
== 0 ==
47