SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

A.Y. 2024-25

Program: B. Sc. Economics Semester : VI

Course/Module : Economic Governance and Policies Module Code: 762EC0E004

Teaching Scheme Evaluation Scheme

Lecture Practical Tutorial Internal Continuous Term End Examinations

(Hours (Hours per (Hours per Credit Assessment (ICA) (TEE)
per week) week) week) (Marks -50) (Marks- 50 )
4 4
Pre-requisite:
 Intermediate microeconomics
 Introductory mathematics and statistics
 Introductory public finance

Course Learning Objectives: (Should be mapped to Program Learning Objectives)

 CLO1: Survey the domain of economic governance. (PLO 1a, 1b, 1c, 1d)
 CLO2: Analyze policy issues in the public and private sector, alternative perspectives and policies.
(PLO 2d, 2e, 2f)
 CLO3: Evaluate various perspectives on policy evaluation, and expose students to a technical
analysis of the issues through project work / data analysis. (PLO 2a, 2b, 2c)

Course Outcomes: After completion of the course, students would be able to :

 CO1. Compare contrasting ideologies regarding the role of the state in an economy (PO2, 3, 5, 8)
 CO2. Analyse the process of public policy formation in addressing local, regional and national
policy issues (PO2, 3, 5, 8)
 CO3. Examine the efficiency of organizational arrangements in private transactions and in the
provision of public services (PO2, 3, 5, 8)

Detailed Syllabus:
Unit Description Course Materials( Name of Book Number Weightage
with chpt. no., journal article of (Marks in
etc.) Hours Term End
required Exam for
each
module)
1 Introduction  KS (2022): Part I (Foundations)
Foundations of public policy  Chp. 5 from Part II for the 12 10
MCPF concept (Lecture
Description:  WB (2016): nos. 1-
To discuss within the chapters: - Chp. 1 (The meaning of policy 12)
- Revision of basics of analysis) – excl. ‘A brief history
(in)efficiency of government of U.S. policy analysis’
intervention in the context of - Chp. 3 (Ethics for policy
typical public finance analysis)
framework (taxes, subsidies,  An introduction to determinants
 SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

A.Y. 2024-25

quotas, correcting of government size - Rowley

externalities & asymmetric Tollison (1994).
information)
- Some typical social welfare For discussion (non-testable): Part
functions & the preference for II (Diagnosing the Indian
government, theories of experience)
government size
2 The policy framework  KS (2022): Part III (The
Policy-making: Background science) 19 28
 Additional readings: (Lecture
Description: a) Within Chp. 9: nos. 13-
Case study/ies to discuss within Banerjee et al (2019). Universal 32)
the chapters: Basic Income in the Developing
 Inequality, discrimination & World
equality of opportunity – b) Within Chp. 11:
current issues  Mishra (2016). The economics
 Public good provision: Issues of the MGNREGS. Livemint
in diverse societies  Introduction to the
 Revision of cost-benefit computation of the Human
analysis. Useful reference: Opportunity index - 1st 15
WB, Chp.6, Pgs. 172-176 slides of World Bank ppt
 Decentralized planning (73rd  Introduction to the Theil index
and 74th constitutional & the decomposition of
amendments) & fiscal inequality into subgroups:
federalism in India – current Using FAO (2006). EasyPol
issues Module 052 - Policy Impacts
 Natural resource management on Inequality Decomposition
of Income Inequality by
Subgroups
 Alesina et al (1999) – model +
how it is empirically measured
[pgs. 1-14 (i.e., 1242-1255) in
detail, remainder only to be
discussed]

Additional reading (non-testable):

a) Bhattacharya (2015). “The
economics of discrimination and a
tailor-made Hollywood script”.
Livemint
b) Bhattacharya (2023). “The
welfare programme economists
loved to hate”. Hindustan Times

c) Within Chp. 12:

Ostrom (1990). Governing the
commons – Chp. 1
 SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

A.Y. 2024-25

d) Within Chp. 13 & Chp. 15:

Various authors (2022). “The
global response: How cities and
provinces around the globe tackled
Covid-19 outbreaks in 2021”. The
Lancet.
- Emphasis on pgs.1-5 (until the
‘Results’ section), after which the
examples to be used to discuss and
compare how Covid policies could
be implemented at the Center vs.
local city levels (any 1-2 cases can
be read well as examples)

Additional readings (non-testable):

i. Oates (1985). “Searching for
Leviathan: An Empirical Study.”
AER
ii. WHO (2021). “Decentralisation
and planning helped Mumbai fight
the second COVID-19 surge”.

3 Public policy processes &  KS (2022): Part V (The public

capacity building policy process): Chps. 29-31 13 15
Process & capacity building  Stuckey and White (1993). (Lecture
 Introduction to corporate When and when not to nos. 33-
governance & regulation: vertically integrate. The 46)
- Large firms vs. the market, & McKinsey Quarterly
agency issues in large firms  Fan (2004). Review of
- LODRs (Listing obligations & Literature & Empirical
disclosure requirements) Research on Corporate
 State & civil society Governance. MAS Staff Paper
- Concepts are testable,
country-specific cases are
not to be memorized
 Deloitte (2015). Governance
101: All you need to know on
corporate governance
practices in India.

Additional reading (non-testable):

The Economist (2021). Volunteers
are filling the gaps in India’s fight
against Covid-19
 SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

A.Y. 2024-25

4 Policy applications & regulation i. WB (2016): Chp. 10 (Life,

- Health policy, tackling health, and health care) 6 7
corruption, e-governance, – Focus on market failures in (Lecture
stabilization policies healthcare & value of life nos. 47-
- ESG (Economic, Social and concepts with numerical 52)
Governance) criteria, compliance exercises – VSL, QALY etc.
cases ii. Baranski and Ollenburger
(2020). How to Improve the
Social Benefits of Agricultural
Research. Issues in Science
and Technology, Vol. XXXVI,
No. 3, Spring 2020. Available
at: https://issues.org/how-to-
improve-the-social-benefits-of-
agricultural-research/
iii. Mondaq (2022). India:
Introduction to Environmental,
Social, and Governance (ESG)
Disclosures in India with an
Overview of the Global
Standards on ESG.
Guest lecture 2
Presentations / Case discussion 5
Conclusion and Revision 1
Text Books:
1. Vijay Kelkar and Ajay Shah (2022). In Service of the Republic: The Art and Science of Economic
Policy (Revised and Updated). Penguin Books (KS)
2. William K. Bellinger (2016). The Economic Analysis of Public Policy (Second edition). Routledge
(WB)
3. Specified academic papers and lecture references

Reference Books:
1. Church, Jeffrey and Roger Ware (2000). Industrial Organization: A Strategic Approach. USA:
McGraw-Hill
2. Jayati Sarkar, Subrata Sarkar (2012). Corporate Governance in India. New Delhi: SAGE
Publications
3. Abhijit V. Banerjee & Esther Duflo (2019). Good Economics for Hard times. New York:
PublicAffairs
4. Michael Hill (2005). The Public Policy process (4th edition). Harlow: Pearson Education Limited
5. Abhijit Banerjee, Gita Gopinath, Raghuram Rajan, Mihir S. Sharma (eds.) (2019). What the economy
needs now. New Delhi: Juggernaut Books
6. Charles P. Oman (ed.) (2004). Corporate Governance in Development: The Experiences of Brazil,
Chile, India, and South Africa. Center for International Private Enterprise, OECD
7. Arun Shourie (2004). Governance and the Sclerosis that has Set in. Rupa
8. North D., Acemoglu D., Fukuyama F., Rodrik D (2008). Governance, Growth, and Development
Decision-making. The World Bank
 SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

A.Y. 2024-25

9. David Levi-Faur (ed.) (2012). The Oxford Handbook of Governance. Oxford: OUP
10. The World Bank (2017). World Development Report 2017: Governance and the Law. Washington,
DC
11. Jennifer Bussell (2012). Corruption and reform in India: Public services in a Digital Age. New
York: Cambridge University Press
12. Journals, scholarly articles
13. A Coursera course titled ““The Art and Science of Economic Policy” offered by Indian Institute for
Human Settlements (IIHS).

Pedagogy used: Lectures; discussions; multimedia resources where applicable

Any other information :

Details of Internal Continuous Assessment (ICA) (Mapped with Course outcomes)

Components Marks Course Outcomes(COs) for

evaluation components
Internal Continuous Assessment (ICA) 50
- Mid Term Test (Test 1) 20 CO1, CO2, CO3
- Case study 10 CO3
- Project work 20 CO2
Term End Exam(TEE) 50 CO1, CO2, CO3

Mode of End Term Exam :

1. Only Written

Term End Exam Paper Pattern:

Answer any 5 out of 6 questions (10 marks each, all sub-questions are compulsory)

Midterm Exam Paper Pattern:

Answer 4 questions (5 marks each, all questions are compulsory)

_________ ____________
Signature Signature
(Prepared by Concerned Faculty/HOD) (Approved by Dean)