IGNOU MA Economics Syllabus 2023 (MEC)

If you are searching for the latest ignou ma economics syllabus 2023 or you can say mec because mec is the short form of master of arts economics. So you are at the right place.

The information given in this post can be used at the time of ignou admission and also at the time of re registration. As re-registration is compulsory for all ignou students who are going to be enter in their next semester or year.

In this post, you will see the ignou ma economics fees structure, eligibility, duration, first and second year mec latest detail syllabus 2023.

IGNOU MA Economics Fees Structure 2023

1. The full programme ignou master of arts economic (mec) fees is Rs 16,800.
2. Fees is to be paid Rs 8,400 per year.

Duration of MEC Programme

1. The Maximum duration of ignou mec programme is 4 years.
2. The Minimum duration is 2 years.
3. You can get admission for this mec course in both July and January admission cycles.

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IGNOU MA Economics Eligibility Criteria

For getting admission in ignou ma economics programme in 2023, you should have a Bachelor’s Degree or a higher degree from a recognized University.

IGNOU MA Economics (MEC) Syllabus 2023

In this section, you will see the ignou ma economics syllabus 2023 (mec) of first and second year.

As you know, in ignou there is a credit system and you have to complete all credits in order to get a degree.

You will see the credits below in front of all the courses in the table.

1. The ignou mec Programme consists a total of 66 Credits divided into 11 Courses, where 9 courses are compulsory and 2 are optional.
2. All the courses covered in the first year are compulsory.
3. In the second year, the first four courses given in the list below (MEC6, MEC7, MEC108, and MEC109) are Compulsory while the rest are optional.

IGNOU MA Economics First Year Syllabus 2023

In Ist year syllabus of ignou economics, all subjects are compulsory.

IGNOU MA Economics 2nd Year Syllabus 2023

Here you see the ignou ma economics second year syllabus or subjects 2023 in which some courses are compulsory and some are optional.

Compulsory Courses

Optional Courses ( Choose 12 Credits Only )

Special Note: You can’t choose MGSE 9 separatly in optional courses. If you want to choose MGSE 9 then you have to choose this course together either with MWG 11 or MEDSE 46 together (means choose either MGSE 9 + MWG 11 or MGSE 9 + MEDSE 46).

IGNOU MA Economics Syllabus 2023 Year Wise in detail

Know, we will see the latest ignou mec first and second year syllabus 2023 in detail.

IGNOU MEC Ist Year Syllabus in detail

MEC 101 : Microeconomic Analysis

Block 1 : Consumer Behaviour
Unit 1 : Theory of Consumer Behavior: Basic Themes
Unit 2 : Theory of Demand
Unit 3 : Theory of Demand : Some Recent Developments

Block 2 : Producer Behaviour
Unit 4 : Theory of Production
Unit 5 : Theory of Cost
Unit 6 : Production Economics

Block 3 : Price and Output Determination
Unit 7 : Perfect Competition
Unit 8 : Monopoly
Unit 9 : Monopolistic Competition
Unit 10 : Oligopoly

Block 4 : General Equilibrium
Unit 11 : General Equilibrium : Pure Exchange Model
Unit 12 : General Equilibrium with Production

Block 5 : Welfare Economics
Unit 13 : Pigovian vs. Paretian Approach
Unit 14 : Social Welfare Function
Unit 15 : Imperfect Market, Externality and Public Goods
Unit 16 : Social Choice and Welfare

Block 6 : Economics of Uncertainty
Unit 17 : Choice in Uncertain Situations
Unit 18 : Insurance Choice and Risk
Unit 19 : Economics of Information

Block 7 : Non-Cooperative Game Theory-I
Unit 20 : Static Games of Complete Information
Unit 21 : Static Games with Complete Information: Applications
Unit 22 : Dynamic Games with Complete Information

Block 8 : Non-Cooperative Game Theory-II
Unit 23 : Static Games of Incomplete Information (with Application to Auction)
Unit 24 : Dynamic Games with Incomplete Information: Perfect Bayesian Equilibrium
Unit 25 : Signaling Games and their Application
Unit 26 : Refinements of Perfect Bayesian Equilibrium

MEC 2 : Macroeconomic Analysis

Block 1 : Traditional Approaches to Macroeconomics
Unit 1 : Classical and Keynesian Approaches
Unit 2 : Neoclassical Synthesis

Block 2 : Economic Growth
Unit 3 : The Solow Model
Unit 4 : Endogenous Growth Model

Block 3 : Rational Expectations
Unit 5 : Rational Expectations and Economic Theory
Unit 6 : Policy-Making under Uncertainty

Block 4 : Inter-temporal Decision-Making
Unit 7 : Consumption and Asset Prices
Unit 8 : The Ramsey Model
Unit 9 : The Overlapping Generations Model
Unit 10 : Money and the Role of Monetary Policy

Block 5 : Economic Fluctuations
Unit 11 : Traditional Theories of Business Cycles
Unit 12 : Real Business Cycles

Block 6 : Unemployment
Unit 13 : Traditional Theories
Unit 14 : Search Theory and Unemployment
Unit 15 : Nominal and Real Rigidities
Unit 16 : New-Keynesian Theories of Unemployment

Block 7 : Open-Economy Macro-Modelling
Unit 17 : Flexible Exchange-Rate System
Unit 18 : Fixed-Exchange Rate System
Unit 19 : Sluggish Price Adjustment

MEC 103 : Quantitative Methods

Block 1 : Introduction to Differential Calculus
Unit 1 : Set Theory
Unit 2 : Functions and their Graphical Representation
Unit 3 : Differential Calculus: Functions, Limit and Continuity

Block 2 : Extreme Values and Optimisation
Unit 4 : Maxima and Minima
Unit 5 : Unconstrained Optimisation
Unit 6 : Constrained Optimisation

Block 3 : Integral Calculus and Economic Dynamics
Unit 7 : Integration Techniques
Unit 8 : Integration and Economic Dynamics
Unit 9 : Difference Equations and Applications in Economic Dynamics

Block 4 : Linear Algebra and Economic Applications
Unit 10 : Vector Analysis
Unit 11 : Linear Algebra
Unit 12 : Input-Output Analysis
Unit 13 : Linear Programming

Block 5 : Statistical Methods-I
Unit 14 : Descriptive Statistics
Unit 15 : Correlation and Regression Analysis
Unit 16 : Probability Theory
Unit 17 : Probability Distribution

Block 6 : Statistical Methods-II
Unit 18 : Sampling Theory
Unit 19 : Sampling Distributions
Unit 20 : Statistical Inferences

MEC 4 : Economics of Growth and Development

Block 1 : Economic Growth Models – I
Unit 1 : Introduction to Economic Growth
Unit 2 : Harrod-Domar Growth Model
Unit 3 : Neo-classical Growth Models

Block 2 : Economic Growth Models –II
Unit 4 : Growth and Distribution
Unit 5 : Total Factor Productivity and Growth Accounting
Unit 6 : Technological Change and Progress

Block 3 : Economic Growth Model-III
Unit 7 : Models of Optimal Economic Growth
Unit 8 : Multi-Sector Models of Growth
Unit 9 : Endogenous Growth Models
Unit 10 : Stochastic Growth Models

Block 4 : Social and Institutional Aspects of Development
Unit 11 : Development and Underdevelopment
Unit 12 : Measurement and Indicators of Development
Unit 13 : Population and Development
Unit 14 : Economic Development and Institutions
Unit 15 : Market Incompleteness and Informal Institutions in the Rural Economy

Block 5 : Theories of Development
Unit 16 : Classical Theories of Development
Unit 17 : Schumpeter and Capitalistic Development
Unit 18 : Theories of Underdevelopment

Block 6 : Development Strategies
Unit 19 : Allocation of Resources
Unit 20 : Cost-Benefit Analysis
Unit 21 : Role of Planning
Unit 22 : Trade and Development

MEC 105 : Indian Economic Policy

Block 1 : Indian Economic Development: An Overview
Unit 1 : Growth and Structure of Indian Economy
Unit 2 : Population and Human Resources
Unit 3 : Natural Resources and Environment
Unit 4 : Physical Infrastructure

Block 2 : Development Strategies in India
Unit 5 : State Planning and Markets: Policy Choices
Unit 6 : Economic Reforms in India
Unit 7 : Major Developments in Post Economic Reforms Period

Block 3 : Sectoral Developments
Unit 8 : Issues and Concerns of Indian Agriculture
Unit 9 : Industrial Development in India: An Overview
Unit 10 : Services Sector

Block 4 : Major Issues Confronting Indian Economic Policy
Unit 11 : Poverty, Inequality and Inclusive Growth
Unit 12 : Employment and Unemployment: Policy Implications
Unit 13 : Regional disparity in India

Block 5 : Monetary and Fiscal Policies in India
Unit 14 : Credit and Monetary Policy
Unit 15 : Capital Market and its Regulation
Unit 16 : Public Finance and Fiscal Policy
Unit 17 : Fiscal Federalism in India

Block 6 : External Sector and Trade Policy
Unit 18 : Foreign Trade and Balance of Payment
Unit 19 : Foriegn Capital
Unit 20 : Trade Policy

Block 7 : Sector Specific Policies
Unit 21 : Agricultural Policy
Unit 22 : Industrial Policy
Unit 23 : Policies Relating to Services Sector

Block 8 : Implementation and Monitoring of Economic Policies
Unit 24 : Livelihood Protection and Social Security Measures with Special References to MANREGA
Unit 25 : Political Economy of Indian Development
Unit 26 : Ingredients of Good Governance

IGNOU MEC 2nd year Syllabus in detail

know, we will see the ignou mec second year subjects or syllabus in detail with blocks and their units.

MEC 106 : Public Economics

Block 1 : Public Economics: Basic Concepts
Unit 1 : Welfare Foundations of Economic Policies
Unit 2 : Theory of Market Failure
Unit 3 : Voting and Local Public Goods

Block 2 : Social Choice and Collective Decision Making
Unit 4 : Arrow’s Impossibility Theorem: Social Choice and Individual Values
Unit 5 : Normative Models: Equity and Justice
Unit 6 : Spatial Voting Models

Block 3 : Public Policy: Mechanism Design, Agenda Setting and Information
Unit 7 : The Basics of Public Policy
Unit 8 : Mechanism Design
Unit 9 : International Policy Coordination

Block 4 : Economics of Taxation
Unit 10 : Commodity Taxes
Unit 11 : Direct Taxes
Unit 12 : Introduction to Optimal Taxation

Block 5 : Public Debt
Unit 13 : Theory of Public Debt
Unit 14 : Sources of Public Debt
Unit 15 : Management of Public Debt

Block 6 : Fiscal Federalism
Unit 16 : Fiscal Federalism and Fiscal Policy
Unit 17 : Equity and Efficiency Issues
Unit 18 : State and Local Goods

MEC 7 : International Trade and Finance

Block 1 : International Trade Theory
Unit 1 : Free Trade Theory
Unit 2 : Alternative Explanations of Trade
Unit 3 : Gains from Free Trade and Welfare

Block 2 : Trade Policy
Unit 4 : Theories of Protectionism;
Unit 5 : Role of WTO in Trade Policy
Unit 6 : Multilateralism and Problems of Developing Countries with WTO

Block 3 : Balance of Payments, BoP Adjustments, Exchange Rates
Unit 7 : Balance of Payments: Introduction
Unit 8 : International Monetary Systems and Exchange Rate Regimes
Unit 9 : International Financial Institutions
Unit 10 : International Debt and the Role of Financial Institutions

Block 4 : Globalisation, Trade and Developing Countries
Unit 11 : Trade and Development
Unit 12 : Issues Related to Trade in Primary Commodities
Unit 13 : Issues on Trade in Services (GATS)
Unit 14 : Trade Negotiations under the WTO: A Historical View

Block 5 : Theory of Regional Blocs
Unit 15 : Regional Trading Blocs
Unit 16 : International Capital Mobility and the Emerging Monetary System

Block 6 : International Trade and Payments in India
Unit 17 : India’s Trade Policy: Historical Perspective and Recent Developments
Unit 18 : India’s Balance of Payments
Unit 19 : Trade and Development in India

MEC 108 : Economics of Social Sector and Environment

Block 1 : Society, Environment and Economy
Unit 1 : Society, State and Market
Unit 2 : Economy and Environment
Unit 3 : Society and Environment

Block 2 : Economics of Education
Unit 4 : Demand for Educational Services
Unit 5 : Supply of Educational Services
Unit 6 : Determinants of Educational Services

Block 3 : Economics of Health
Unit 7 : Demand for Health Services
Unit 8 : Supply of Helath Services
Unit 9 : Determinants of Health Services

Block 4 : Economics of Environment
Unit 10 : Demand for Natural and Environmental Resources
Unit 11 : Supply of Environmental and Ecosystem Services
Unit 12 : Determinants of Environmental Resources

Block 5 : Sustainable Development
Unit 13 : PIllars of Sustainable Development
Unit 14 : Green Accounting and Environmental Cost Benefit Analysis
Unit 15 : Common Property Resources Management

Block 6 : Institutions and Policies
Unit 16 : Education Sector
Unit 17 : Health Sector
Unit 18 : Environmental Sector I
Unit 19 : Environmental Sector II

MEC 109 : Research Methods in Economics

Block 1 : Research Methodology: Issues and Perspectives
Unit 1 : Research Methodology: Conceptual Foundations
Unit 2 : Approaches to Scientific Knowledge: Positivism and Post Positivism
Unit 3 : Models of Scientific Explanation
Unit 4 : Debates on Models of Explanation in Economics
Unit 5 : Foundations of Qualitative Research: Interpretitivism and Critical Theory Paradigm

Block 2 : Research Design and Measurement
Unit 6 : Research Design and Mix Methods Research
Unit 7 : Data Collection & Sampling Design
Unit 8 : Measurement and Scaling Techniques

Block 3 : Quantitative Methods-I
Unit 9 : Two Variable Regression Models
Unit 10 : Multiple Regression Models
Unit 11 : Measures of Inequality
Unit 12 : Construction of composite index number in social sciences

Block 4 : Quantitative Methods-II
Unit 13 : Multivariate Analysis: Factor Analysis
Unit 14 : Canonical Correlation Analysis
Unit 15 : Cluster Analysis
Unit 16 : Correspondence Analysis
Unit 17 : Structural Equation Modelling (SEM)

Block 5 : Qualitative Methods
Unit 18 : Participatory Methods
Unit 19 : Conent Analysis
Unit 20 : Action Research

Block 6 : Data Base of Indian Economy
Unit 21 : Macro-variable Data: National Income, Saving and Investment
Unit 22 : Agricultural and Industrial Data
Unit 23 : Trade and Finance
Unit 24 : Social Sector

MECE 1 : Econometric Methods

Block 1 : Basic Econometric Theory
Unit 1 : Introduction to Econometrics
Unit 2 : Estimation of Two-variable Regression Model
Unit 3 : Statistical Inference in Simple Regression Models
Unit 4 : Multiple Regression Model
Unit 5 : Generalised Least Squares

Block 2 : Treatment of Violations of Basic Assumptions
Unit 6 : Multicollinearity
Unit 7 : Auto Correlation
Unit 8 : Heteroscedasticity
Unit 9 : Errors in Variables

Block 3 : Extensions of Regression Models
Unit 10 : Dummy Variable Models
Unit 11 : Autoregressive and Distributed Lag Models
Unit 12 : Discrete Dependent Variable Models

Block 4 : Simultaneous Equation Models
Unit 13 : Introduction to Simultaneous Equation Models
Unit 14 : Identification Problem
Unit 15 : Estimation of simultaneous Equation Models

Block 5 : Multivariate Analysis
Unit 16 : Introduction to Multivariate Analysis
Unit 17 : Principal Component Analysis
Unit 18 : Factor Analysis

MECE 3 : Actuarial Economics: Theory and Practice

Block 1 : Quantitative Techniques for Risk Analsysis
Unit1 : Applied Probability I
Unit2 : Applied Probability II
Unit 3 : Stochastic Process
Unit 4 : Application to Finance

Block 2 : Actuarial Techniques I
Unit 5 : Valuing Risk Management
Unit 6 : Stochastic Models in Insurance
Unit 7 : Theory of Interest

Block 3 : Actuarial Modelling I
Unit 8 : Life Insurance
Unit 9 : Collective Insurance and Company Operations
Unit 10 : Insurance Pricing

Block 4 : Actuarial Techniques II
Unit 11 : Cash Flow Projections
Unit 12 : Life Contingencies
Unit 13 : Credibility Theory

Block 5 : Actuarial Modelling II
Unit 14 : Reinsurance
Unit 15 : Extreme Value
Unit 16 : Stochastic Control and Insurance

Block 6 : Non-Life Reserving and Accounts
Unit 17 : Reserving Techniques
Unit 18 : Dynamic Financial Analysis

Block 7 : Introduction to Regulation of Insurance
Unit 19 : Forms of Regulation
Unit 20 : Regulation of Insurance in India

MECE 4 : Financial Institutions and Markets

Block 1 : Nature and Role of Financial System
Unit 1 : The Role of Financial Markets in the Economy
Unit 2 : Money and Finance
Unit 3 : Risk and Financial Assets
Unit 4 : Interest Rates and Cash Flows

Block 2 : Financial Markets
Unit 5 : Money Markets
Unit 6 : Capital and Equity Markets
Unit 7 : Derivatives Markets
Unit 8 : Structure of Financial Markets

Block 3 : Financial Institutions
Unit 9 : Financial Intermediaries
Unit 10 : Commercial Banking
Unit 11 : Investment Banking
Unit 12 : Trading and Exchanges

Block 4 : The Financial Sector and Monetary Policy
Unit 13 : Money and the Economy
Unit 14 : Money Creation and Central Banking
Unit 15 : Interest Rate Risk
Unit 16 : Credit Risk and Other Risks

Block 5 : International Financial Markets
Unit 17 : Exchange Rates
Unit 18 : Rise and Fall of Brettonwood Institutions
Unit 19 : Regional Financial Institutions

MWG 11 : Women in the Economy

Block 1 : Conceptualizing Women’s Work
Unit 1 : Defining Work
Unit 2 : Productive and Reproductive Work
Unit 3 : Segmentation
Unit 4 : Estimating Women’s Work

Block 2 : Historiographical Issues and Debates in Women’s Work
Unit 5 : International Debates
Unit 6 : Indian Debates-I
Unit 7 : Indian Debates-II
Unit 8 : Mobilization and Resistance

Block 3 : Participation
Unit 9 : Issues Concerning Participation
Unit 10 : Locations
Unit 11 : Sectors
Unit 12 : Occupation

Block 4 : Migration
Unit 13 : Theories and Typologies of Migration
Unit 14 : Migration, Inequality and Social Change
Unit 15 : Migration and Vulnerabilities to Trafficking
Unit 16 : Migration and Development

Block 5 : Legislation, Social Protection and Policy
Unit 17 : Frameworks and Approaches
Unit 18 : Important Legislation and Landmark Judgments
Unit 19 : Welfare and Social Security Measures
Unit 20 : Women in Planning and Social Policy

Block 6 : Women and Globalization
Unit 21 : Globalization and Economic Change
Unit 22 : New International Division of Labour
Unit 23 : Questions of Feminization and Margination

MGSE 9 : Gender Issues in Work Employment and Productivity

Block 1 : Gender Issues in Work
Unit 1 : Gender Issues in Work
Unit 2 : Valuation of Women’s Work
Unit 3 : Participation of Women in Pre-industrial and Industrial Socieities

Block 2 : Women’s Contribution to National Economy
Unit 4 : Women in Care Economy
Unit 5 : Women in Shadow Employment
Unit 6 : Search Theories
Unit 7 : The Indispensability of Voice Organizing for Social Protection in the Information
Economy
Unit 8 : Towards a ‘Generative’ Model of Social Protection Making the Links to
Development Policy

Block 3 : Gender and Labour Markets
Unit 9 : Labour Market Segmentation
Unit 10 : Gender Differential Impact on Labour Market
Unit 11 : Wage Differentials
Unit 12 : Social Security
Unit 13 : Legal Responses to Work

MEDSE 46 : Development Issues and Perspectives

Block 1 : Development – An Overview
Unit 1 : Development Introduction and Paradigm
Unit 2 : Economic Development
Unit 3 : Human Development
Unit 4 : Political Development

Block 2 : Basic Issues in Development-I
Unit 5 : Population
Unit 6 : Poverty
Unit 7 : Inequality
Unit 8 : Unemployemnt

Block 3 : Basic Issues in Development-II
Unit 9 : Social and Cultural Issues in Development
Unit 10 : Development and Disparties
Unit 11 : Inclusive Development
Unit 12 : Marginalization

Block 4 : Sectoral Issues in Development
Unit 13 : Agriculture
Unit 14 : Industry
Unit 15 : Infrastucture
Unit 16 : Service

Block 5 : Sectoral Issues in Development-II
Unit 21 : Education
Unit 22 : Health
Unit 23 : Gender

MGSE 9 : Gender Issues in Work Employment and Productivity

Block 1 : Gender Issues in Work
Unit 1 : Gender Issues in Work
Unit 2 : Valuation of Women’s Work
Unit 3 : Participation of Women in Pre-industrial and Industrial Socieities.

Block 2 : Women’s Contribution to National Economy
Unit 4 : Women in Care Economy
Unit 5 : Women in Shadow Employment
Unit 6 : Search Theories
Unit 7 : The Indispensability of Voice Organizing for Social Protection in the Information Economy
Unit 8 : Towards a ‘Generative’ Model of Social Protection Making the Links to Development Policy

Block 3 : Gender and Labour Markets
Unit 9 : Labour Market Segmentation
Unit 10 : Gender Differential Impact on Labour Market
Unit 11 : Wage Differentials
Unit 12 : Social Security
Unit 13 : Legal Responses to Work

MECP 101 : PROJECT WORK

IGNOU Mec Syllabus 2023 Pdf

Here, you will get the ignou mec syllabus 2023 pdf of first and second year syllabus in detail.

You can download the syllabus from here

So, this is the ignou ma economics syllabus, if you have any doubt or query then please comment.

Also Read:

• IGNOU MA Political Syllabus
• IGNOU MA History Syllabus