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M. A. / M. Sc. Program in Regulatory Governance
Curriculum and Description of Courses
(To be launched in 2012-13)
Developed by
Centre for Water Policy, Regulation and Governance
School of Habitat Studies,Tata Institute of Social Sciences
in collaboration with
Prayas Pune and External Experts
Mumbai
March 2013
2 Contents
M. A. / M. Sc. Program in Regulatory Governance ... 1
I. About the School of Habitat Studies ... 4
II. Introduction to the Masters Programme in Regulatory Governance... 4
2.1 Rationale for the Programme by TISS ... 5
2.2 Why engage with Regulatory Governance? ... 6
2.3 Scope of the Programme ... 7
2.4 Overall Purpose ... 8
2.5 Specific Objectives ... 8
2.6 Student Intake ... 8
2.7 Career Paths for Students ... 9
2.8 Key Features ... 9
III. Process of Curriculum preparation ... 9
IV. Program Structure ... 9
4.1 Building Blocks of the Program... 9
4.2 Brief Explanation of Different Components and Lists of Courses... 10
4.3 Semester-Wise Distribution of Courses and Credits ... 12
4.4 Brief Description of Individual Courses ... 17
VI. Fees and Deposits in Rupees... 21
VII. Details of Courses ... 22
RG1: Introduction to Public Policies: Concepts, Theory, and Practice ... 22
RG2: Introduction to the Indian Legislative, Legal, and Administrative System ... 25
RG3: History and Perspectives of Regulation ... 27
RG4: Basics of Financial Analysis ... 30
RG5: Research Methods – I ... 32
RG6: Concepts and Theories in Regulatory Governance ... 34
RG7: Economics for Regulation ... 36
RG8: Financial Aspects of Regulation ... 39
RG9: Regulatory Impact Analysis ... 41
RG10: Instruments of Regulation-1 ... 44
RG11: Basic course on Regulatory Skills ... 46
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RG13: Introductory Course on Sectoral Regulation ... 51
RG14: Regulatory Clinic-1 ... 57
RG15: Introduction to Social and Environmental Regulation Rationales ... 59
RG16: Instruments of Regulation-2 ... 61
RG17: Regulatory Functioning: Process, Procedures and Activities ... 64
RG18: Law for Regulation ... 67
RG19: Elective in Sectoral Regulation: Electricity Regulation ... 70
RG 20: Elective Course on Sector Regulation- Micro Finance Sector ... 73
RG21: Elective in Sectoral Regulation: Occupational Health and Safety ... 76
RG22: Elective in Sectoral Regulation: Water Regulation... 79
RG23: Research Design and Proposal for Thesis / Project ... 82
RG24: Regulatory Clinic-2 ... 84
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I. About the School of Habitat Studies
The School of Habitat Studies is a fully integrated, multi-disciplinary school, undertaking research, teaching and extension across a broad range of issues with regard to the ‘habitat’. ‘Habitat’ has been understood in its broadest sense as the built environment of human settlements, along with the social environs in which they are situated as well as the natural environment, including geophysical and biological. The School houses five centers including the Centre for Urban Policy and Governance, Centre for Climate Change and Sustainability Studies, Centre for Water Policy, Regulation and Governance, Jamsetji Tata Centre for Disaster Management and the Centre for Science, Technology & Society. The School also includes the “Facility on Urban Reforms in India’ and the ‘Facility on Regulatory Governance’ is ready to be launched shortly.
II. Introduction to the Masters Programme in Regulatory Governance
The Center for Water Policy, Regulation and Governance (CWPRG) proposes to launch a Masters Programme on Regulatory Governance from the academic year 2013-14. The M.A/M.Sc. in Regulatory Governance (hereafter referred to as the program) is a pioneering initiative of the Tata Institute for Social Sciences and the Prayas Energy Group, to offer the first-of-its-kind master’s program on Regulatory Governance in the country.
Regulation is broadly understood as an effort by the state to address social risk, market failure or equity concerns through rule-based direction of social and individual action.1Regulation or Regulatory Governance is a well-developed discipline, and education programs are conducted by universities around the world, including London School of Economics (UK), Monash University (Australia), University of Pennsylvania and Harvard School of Law (USA), to name a few prominent ones. However, in India,‘regulation’ as an area of study, is a sub-component of the study of administrative law within law schools and public administration institutions. Being a multi-disciplinary field, there is a need for an innovative approach to the study of the evolving regulatory governance in the country, foregrounding the social and environmental dimensions. With this background in mind, the new program seeks to provide a comprehensive understanding of contemporary regulation theory and emerging regulatory practice models, both at the national and international levels, with an innovative component of social and political rationales and critiques, underpinning the entire program.The program equips the students with the understanding of different perspectives, theoretical understanding, and practical skills to effectively engage in and with regulatory activities and processes, taking on board critical social
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5 dimensions such as equity, environment and sustainability concerns. It provides an opportunity to build perspectives and skills within this complex discipline, through active learning from skilled experts and practitioners in the field.
2.1 Rationale for the Programme by TISS
• In keeping with the TISS vision ofcontinually responding to the changing social realities through development and application of knowledge, this new programme attempts to respond to the rapid transformation in governance in recent years, through the introduction of regulatory governance models. Although, no institution in India currently offers such a program on Regulatory Governance, it is likely that such programs will be evolved by law schools, management institutions and those offering public administration as a specialization, in the near future. What would distinguish this program from the other such potential programs will be its interdisciplinary approach and a clear focus on the social dimensions of regulatory governance.
• The Planning Commission Working Group on Business Regulatory Governance in its report examines the issue of building capacities and identifies the need for a “comprehensive programme on capacity building of government, business and stakeholders” in the field of regulatory governance2. The Planning Commission in its consultation paper on Regulation of Infrastructure identifies the need for a separate department of Regulatory Affairs within the Ministry of Personnel and Administrative Reforms3.
• The study on capacity building requirements of regulatory staff (published by Forum of Indian Regulators) points towards the existing capacity-gap and hints at the potential for capacity building through formal training4. Apart from the official regulators, the utilities, companies and other entities that are regulated (i.e., regulatees), consumer groups and civil society organizations will also have to develop regulatory capacities in order to effectively respond and comply with the regulatory requirements.
• Regulation in its dominant neo-liberal form has been narrowly dealing with ‘economic’ regulation. The popular and the more mainstream understanding of Regulation promotes the view that it creates greater space for markets to enter and compete, thus obscuring its critical importance in ensuring equity, greater inclusion in policy and law making, and in protecting rights.
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Government of India, Towards Optimal Regulatory Governance in India, Report of the Working Group on Business Regulatory Framework, 2011 (para 5.9.1, 2011) available at:
planningcommission.nic.in/aboutus/committee/.../wg_brf2103.pdf 3
Government of India, Approach to Regulation of Infrastructure, Planning Commission Paper, 2008, available at:
infrastructure.gov.in/event_Regulation_Law_and_Policy_final.pdf
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Forum of Indian Regulators (FoIR and Deloitte, Study on Assessing Capacity Building Requirements for Regulatory Staff, 2012 available at: www.forumofregulators.gov.in/.../FOIR_Final%20Report_KV_0405
6 • There is a need to develop ‘social’ perspectives to regulation. Similarly, in the current situation there is a shortfall of ‘socially’ sensitive and skilled professionals in the field. These gaps can be effectively filled by TISS by bringing in the social/ rights / pro-people and pro-poor perspectives into an otherwise conventional approach of purely ‘economic’ regulation. It is also critical to incorporate the ‘environmental’ dimension also, as many sectors, especially infrastructural sectors have serious environmental implications and the current stand-alone instruments for ‘environmental protection and conservation’ are not adequate to respond to these needs. For instance, the Environment Protection regulations in the country do not adequately touch upon even the environmental dimensions of renewable energy.
• It is important to note that the field of regulatory governance is rapidly evolving, with several new regulatory authorities being proposed and many already in the pipeline. Regulatory governance has several models across the globe. The models being adopted and experimented within India requires close scrutiny and engagement. Regulatory Governance models that are anti-democratic in nature need to be critiqued and resisted. It is critical that this process of engagement and critique adopt a constructive approach, so as to influence the development of an indigenous model that responds to our socio-political context. To evolve such domestically sound regulatory governance models, the Tata Institute of Social Sciences aspires to provide the necessary thought leadership at this very critical juncture.
2.2 Why engage with Regulatory Governance?
An oft repeated question during the development of the curriculum needs to be addressed and explained here: why study and engage with Regulatory Governance? Is it too nascent a field to be the subject of a postgraduate programme? Does it bring with it ideological biases that support and promote a certain form of governance that may be inappropriate within our social-political context?
We address a few of these critical questions here, so as to share and record our thoughts guiding the development of the program structure and content of courses.
a) Still a nascent field – Regulatory governance in its new form is only a decade old in India. However, the oldest institution, the Reserve Bank of India – typifying an independent regulation model – predates independence. The new models of governance that are emerging are mired in much confusion and chaos, particularly in language, conceptual thought and institutional processes, as they seek to replicate and experiment with regulatory models elsewhere. It is into this anarchy of thought and evolutionary change in the field of regulatory governance that we choose to step in. It is a conscious choice to be a part of this exciting new journey, to not only establish a new academic discourse but to also greatly influence the trajectory of its growth through active participation. The Prayas team, which has been an active practitioner in this field for several years, feels that the time is right for an engagement with discourse of regulatory governance. It is our collective conclusion after much considered thought that this is the right
7 time to influence the discourse on regulatory governance before emerging institutional models are too set to respond to demands for (greater) democratization.
b) Why house this in TISS? Should regulatory governance be housed in TISS or would it find a
better fit within a law school or an institution for public administration. It must be noted here that regulatory governance is a complex discipline requiring competencies in economics, law, finance, policy, engineering, management, and public administration. TISS is primarily a social science institution and established the School of Habitat Studies with the specific aim to undertake research and teaching in a manner that is comprehensively multi and trans disciplinary—straddling physical, engineering and social sciences as well as the disciplines of law, planning, and humanities. This setting would allow for greater integration of the wide range of disciplinesrequired to deal effectively with the issues in the field of regulatory governance. It is also more suited to take forward the agenda of a people centric discourse on regulatory governance. A law school or a management school housing such a programme would carry with them an underlying disciplinary bias rendering the academic course too legalistic or too techno-managerial in content.
c) Why use the neo-liberal language? The predominant language of regulatory governance is
viewed as being neo-liberal taking forward the agenda of a market model of growth. After much deliberation, we recognize the need to adopt the language of the mainstream in order to ensure an active intervention in transforming the regulatory governance spaces. We choose to ‘engage and critique’; not ‘oppose and shun’. This approach is more similar to the critical academic approach that engages, evaluates, and thus attempts to transform. To many, this may seem like an audacious step, but it is an experiment that we choose to undertake. It is adequately safe but also adequately innovative to bring about a transformation.
2.3 Scope of the Programme
The proposed programme provides a good combination of theoretical inputs and practical capacity building, with an emphasis on social and environmental perspectives.
• It provides a basic overview of the history, principles, concepts, theory, policies, institutions, and debates in the field of Regulatory Governance. This background enables students to critically engage with the rapidly transforming developments in the field.
• The course equips the students with the understanding of different perspectives, theoretical understanding, and practical skills to effectively engage in and with regulatory activities and processes, taking on board critical social and environmental dimensions.
• It seeks to provide a comprehensive understanding of contemporary regulation theory and emerging regulatory practice models, both at the national and international levels, with an innovative component of social and political rationales and critiques, underpinning the entire course.
8 • It aims at building skills of students in a range of regulatory tools including the various design and evaluation techniques and provides a clear understanding of processes pertaining to regulatory governance including those involving interventions and advocacy. • It adopts a cross-disciplinary approach with interfaces with and among disciplines of law,
economics, finance, history, engineering, management, politics, and public administration. • It adopts a modular approach, with a built-in Post-GraduateDiploma for professionals who
are able to devote only one year to equip themselves with the theoretical and practical knowledge of regulatory theory, analysis and processes, with an opportunity to complete the masters after some gap.
• The elements of pedagogy adopted are diverse, ranging from (a) foundation courses (b) perspective courses providing exposure to critical debates (c) skill building components (d) exposure to field and (e) practical components.
• The programme will have a strong interface with practitioners and government agencies, learning from their experiences on the field.
• It will also interface with current and future programmes offered by TISS. 2.4 Overall Purpose
The Masters in Regulatory Governance is a multi-disciplinary programme, which aims to develop a cadre of professionals—who aresocially responsible and environmentally-conscious— in the evolving field of regulatory governance. This programme is geared to serve the diverse needs of the field of regulatory governance in India.5
2.5 Specific Objectives
The key objectives of this programme include:
a. It seeks to fill the knowledge and capacity gaps in the field of regulatory governance in the country.
b. It aspires to evolve, engage and influence the academic discourse on regulatory governance.
c. It aims to mould students to be good regulatory practitioners, who are also socially responsible and environmentally conscious.
d. It seeks to indirectly support and provide for the specific needs of the field of regulatory governance through knowledge products, innovative research projects and outreach efforts. 2.6 Student Intake
It is expected that the students from diverse disciplinary backgrounds ranging from economics, engineering, law, public policy, public administration, management, finance, political science, social work, bio-technology, pharmaceuticals, health and agriculture, to list a few.
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This clarity is very critical, as the nature, content, form, and field condition pertaining to the regulatory governance in different countries is vastly diverse.
9 It is expected that the first batch for the academic year 2012-13 will consist of about 20 students. 2.7 Career Paths for Students
This programme is designed to provide students a good mix of training in perspectives, concepts, and theory of regulation, as well as practical component such as regulatory design and practice. It will also impart training in professional skills and methods, especially those pertinent to the field of regulatory governance. In addition, it will provide adequate opportunities for gaining direct understanding of the field through field visits, field exposures, and optional internship. With such an exposure to both the theoretical and practical components, the level of employability of the students is expected to be very high. Students will be employed in institutions and agencies from the burgeoning regulatory domain, ranging from government bodies, independent regulatory institutions, private and public sector bodies, non-governmental organizations and research centers.
2.8 Key Features
The key features of the programme are highlighted below
• Provides a comprehensive understanding of contemporary regulation theory and emerging regulatory practice models;
• Adopts a multi-disciplinary approach and introduces core concepts in economic, legal, accounting, finance and technical aspects, as relevant for regulatory governance;
• Creates opportunities for learning practical tools of regulatory processes from experts in the field;
• Built with the cross-cutting theme of social and environmental perspective
• Most importantly, this programme is geared to serve the needs of the field of regulatory governance in India.
III. Process of Curriculum preparation
In the initial phase, the faculty at TISS collaborated extensively with the Prayas, Pune team to develop the curriculum development. Some external help was also sought in designing the courses. In the next phase, it is proposed that we seek comments from experts on the overall program structure as well as contents of individual courses in the program.
IV. Program Structure
4.1 Building Blocks of the Program
The program comprises of courses that can be categorized into different thematic building blocks. The Theory and Practice courses are the two major pillars that support the entire program structure. These two primary components can be further broken down into different components
10 such as perspective courses, theory courses, skill-based courses, sectoral courses and so on. Categorizing courses into these components is critical to ensure that adequate balance is maintained between the various components or the building blocks. Each of the courses contributes to one or more of these components. Each of the components is envisaged to play a certain role in preparing the students for a career as regulatory-professionals.
The components identified for the program along with the weightage for the same in the form of credits are given in Table 1. For the titles of courses in each of the components, please refer to the Table 3. Also refer Table 4 for the detailed Course List.
4.2 Brief Explanation of Different Components and Lists of Courses
1. Foundation and Perspective Courses
• The courses in this group are expected to provide initial inputs in sociology, political science, economics, and development experience of the country. In doing so, they are also expected to help students develop sensitive and inclusive perspective in understanding society as well as issues before society.
• The courses from this group are expected to help students develop perspectives on key specific themes related to Regulatory Governance that often cut across different disciplines and sub-sectors within the sector.
• The general foundation and perspective courses are common to all the master’s level programs in the institute and taught at the institute level. These are known as FC I, FC II, FC III, and FC IV.
• A set of foundation courses and perspective course that are specific to understanding regulation is also introduced in the first semester.
• The courses will expose students to the conceptual, theoretical, and ideological debates that should inform the thinking, policies, and practice in Regulatory Governance.
2. Concept and Theory Courses
• These courses introduce students to the evolution of regulation and its various forms, a range of concepts, relevant theories, and practices from different disciplines that engage with regulatory governance, such as law, public administration, engineering, economics and finance, policy and governance.
• The theory courses rely heavily on literature from abroad as the development of regulatory governance theory within the country is still nascent.
3. General Research Methods and Design
• The courses on research methods and design will provide focus primarily on the qualitative and quantitative methods of research. The emphasis will be on general research methods which will be applicable for regulatory studies as well.
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4. Analysis, Methods and Skills for Regulation
• A strong component of skill building is considered essential for two specific reasons. First, the students within the programme come with diverse skill sets and require skill building to undertake the tasks of a regulator or regulatee. Second, although there are diverse sectoral conditions, certain common skills and tools are an essential cross-cutting theme across sectors. For instance, the determination of tariff is a tool of regulation that applies across sectors. Tariff determination and tariff analysis is a skill set that students need to acquire in order to be able to engage effectively with regulatory governance.
5. Sectoral Regulation (Electives)
• Gradually building on the foundational blocks of the first semester, an introduction of developments and concerns related to regulatory governance from different sectors are introduced in the second semester. As the master’s program has an in-built two-semester diploma program, it is thought necessary to provide the diploma students with the sectoral inputs before they graduate at the end of the second semester. The introductory sectoral course in the second semester is designed with this in mind. The Masters students however, will build on this initial learning and gain a greater depth in understanding of the sectors in the third and fourth semester. They will obtain a specialization in more than one regulatory sector at the end of two years.
6. Multi Component Courses: Advanced Themes in Regulatory Governance
• This component will provide space for introduction and exposure to advanced and cross-sectoral themes emerging in the field of regulation. The themes could touch-upon the theory, concept or practice components. As such these themes could fall into any of the other components listed here and hence are categorized separately as ‘multi-component courses’.
7. Field Work and Other Practice Work
• This component offers an opportunity to students to gain practice through exposure, experience and independent work. As part of practice, the students will undertake independent research in the fourth semester. There are two outputs expected in the fourth semester. The first is the research dissertation or project. Students interested in academic work will undertake work on dissertation while students interested in solving some concrete regulatory problems will undertake a project. An alternative of self-study will be provided for students who would like to pursue study in specific area beyond the conventional boundaries of research or project. This self-study will be more practice oriented than research. The second output of independent work is a policy assignment. Here the faculty will develop a terms of Reference (ToR) on some policy/ regulatory analysis work and the students will undertake the work as an independent assignment,
12 under the guidance of the faculty. This will provide the students an opportunity to gain experience of undertaking and delivering on assignment-based professional task.
• Apart from the independent work, students will be also be provided opportunity to work on live regulatory issues and processes in the form of ‘regulatory clinic’. The clinic will be run by the faculty as an ongoing activity of participation and intervention in live regulatory issues and processes. Students will be provided an option of participating in the activities of the clinic in various capacities. The first year students will be provided an opportunity to participate in some live regulatory processes, while second-year students will be offered opportunity of substantive contribution in form of analysis and intervention. The activities of the clinic and the opportunities for students will depend of the status of ongoing live regulatory processes, the capabilities of the students and availability of time and other resources with the faculty. Students undertaking activities in the clinic, apart from the credited activities, will be offered certificate of participation along with a remark in their year-end testimonials.
• Students will also undertake summer internship towards the end of the second semester. Internship with professional organizations (government or non-governmental) will provide opportunity to understand the different facets of the regulatory profession. It will also allow students interact and connect with the professional networks in the field of regulation. Internships can be taken-up with regulatory agencies, regulated utilities, NGOs and other bodies associated with regulatory work.
4.3 Semester-Wise Distribution of Courses and Credits
• Table 1 presents distribution of the credits, both component-wise as well as semester-wise.
• Table 2 presents the summary of overall distribution of credits for each semester • Table 3 provides course-titles under each components in different semester
• Table 4 provides the course list for each semester along with the codes for each course • The main objective achieved in the structure presented in the table is to distribute the
courses evenly across the semester, while retaining sequential order among the different courses that is required by course content and logic of the program.
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Table 1. Semester-wise Breakup of Credits within Components
No. Components/ Building
Blocks Semester I Semester II Semester III Semester IV Total Credits
1 Foundation and Perspective 9 9
2 Concepts and Theory 6 5 4 15
3 General Research Methods 2 2 1 5
4 Analysis, Methods and Skills for Regulation
6 6 12
5 Sectoral Courses 5 6 11
6 Practice/ Field Work 1 1 8 10
7 Multi-component Courses (Advanced Regulatory Themes)
4 4
Total Credits 17 19 18 12 66
Table 2. Semester-wise Break-up of Total Credits
Semester Credits I 17 II 19 III 18 IV 12 Total 66
14 Table 3. Courses in Each of the Components
Component Semester I Semester II Semester III Semester IV
Foundation and Perspective • Foundation Courses - FC 1, 2, 3, 4 (7 CR) • History &Perspectives on Regulatory Governance (RG 3) (2 CR) Concepts and Theory • Introduction to Public Policies: Concepts, Theory, and Practice (RG 1) (2 CR) • Introduction to Indian
Legislative, Legal and Administrative System (RG 2) (2 CR)
• Basics of Financial Analysis (RG 3) (2 CR)
• Concepts and Theories in
Regulatory Governance (RG 6) (2 CR)
• Economics for Regulation (RG 7) (3 CR)
• Introduction to Social and Environmental Regulatory Rationales (RG 15) (2 CR) • Law for Regulation (RG 18) (2
CR) Research Methods • Research Methods-1 (RG 5) (2 CR) • Research Methods-2 (RG 15) (2 CR)
• Research Design and Proposal for Thesis / Project (RG 23) (1 CR) Analysis, Methods and Skills for Regulation
• Regulatory Impact Analysis (RG 9) (2 CR)
• Financial Aspects of Regulation (RG 8) (1 CR)
• Instruments of Regulation-1 (RG 10) (2 CR)
• Basic Course on Regulatory Skills (RG11) (1 CR)
• Instruments of Regulation-2 (RG16) (4 CR)
• Regulatory Functioning: Process, Procedures, and Activities (RG17) (2 CR)
Sectoral
• Introductory Course on Sectoral
Regulation (RG 13) (5 CR)
• Elective course on sectoral regulation 1, 2, 3(RG19-22) (6 Cr) Practice/ Field Work • Regulatory Clinic-1 (RG 14) (1 CR) • Regulatory Clinic-2 (RG 24) (1 CR) • Summer Internship(non-credit) • Project or Dissertation or Self-study (RG26) (6 CR) • Policy Assignment (RG 27) (2 CR) Multi-component • Advanced Themes in Regulatory Governance (RG 25) (4 CR)
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Table 4. Course List
Semester Course Code Course Title Credits
I
Part 1: Foundation Courses
FC 1 Understanding Society, Culture and Identity
2 FC 2 Understanding Developing
Economies
2 FC 3 India’s Development Experience 2 FC 4 Introduction to Research
Methodology
1
Part 2: Introduction to Regulatory Governance
RG 1 Introduction to Public Policies: Concepts, Theory, and Practice
2 RG 2 Indian Legislative, Legal, and
Administrative System
2 RG 3 History and Perspectives on
Regulatory Governance
2
RG 4 Basics of Financial Analysis 2
RG 5 Research Methods – I 2
II
Fundamentals of Regulatory Governance
RG 6 Concepts and Theories in Regulatory Governance
2
RG 7 Economics for Regulation 3
RG 8 Financial Aspects for Regulation 1
RG 9 Regulatory Impact Analysis 2
RG 10 Instruments of Regulation – I 2 RG 11 Basics course on Regulatory
Skills
1
RG 12 Research Methods – II 2
RG 13 Introductory Course on Sectoral Regulation
5
RG 14 Regulatory Clinic-1 1
Summer Vacation
-- Summer Internship (non-credit, non-mandatory)
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Semester Course Code Course Title Credits
III
Advanced Courses on Regulatory Governance
RG 15 Introduction to Social and Environmental Regulatory Rationales
2
RG 16 Instruments of Regulation – II 4 RG 17 Regulatory Functioning: Process,
Procedures, and Activities
2
RG 18 Law for Regulation 2
RG 19 to 22 Elective in Sectoral Regulation I, II, III (courses given in list below)
6 RG 23 Research Design and Proposal for
Thesis / Project
1
RG 24 Regulatory Clinic-2 1
IV RG 25 Advanced Themes in Regulatory Governance
4
Independent Work
RG 26 Project or Dissertation or Self-study
6
RG 27 Policy Assignment 2
TOTAL CREDITS(all semester) 66
List of Elective Courses
Semester Course Code Title of Elective Courses Credits
III RG 19 Elective in Sectoral Regulation: Electricity Regulation
2 RG 20 Elective in Sectoral Regulation:
Micro Finance Sector
2 RG 21 Elective in Sectoral Regulation:
Occupational Health and Safety Regulation
2
RG 22 Elective in Sectoral Regulation: Water Regulation
17 4.4 Brief Description of Individual Courses
This section provides introduction to the objective and contents of the taught courses.
RG 1: Introduction to Public Policies: Concepts, Theory, and Practice (2 credits, semester 1)
The course is aimed at enabling the students to locate the field of regulation within the larger body of concepts associated with public policy and governance. This will act as the introductory course for bringing clarity on conceptual, theoretical, and practical aspects of publicpolicies, governance, and regulation, especially in the Indian context.
The course will comprise of introduction to the concepts of policy, public policy, policy analysis, models and theories of policy making, implementation of pubic policies, governance and good governance, brief introduction to regulation and regulatory governance. It will also provide exposure to the field of policy advocacy.
RG 2: Indian Legislative, Legal and Administrative System(2 credits, semester 1)
This course introduces students to the legislative process, more particularly locating administrative and rule making functions within the broader legal framework. It also introduces students to regulation in the command and control model, juxtaposing it with the emerging forms of regulatory models. It is designed to provide the base for understanding rule making, legal interpretation, legal drafting and advanced courses in law, in the next few semesters.
The course content includes a broad introduction to the Indian legal system; Indian Constitution; separation of powers and the administrative institutions; delegated legislation; administrative adjudication and administrative tribunals.
RG 3: History and Perspectives on Regulatory Governance (2 credits, semester 1)
This course provides a basic overview of the history, both national and international, in Regulatory Governance. The module will also provide a quick overview of the context within which the regulatory institutions are being established in India. The history and perspectives will provide students the foundation to engage with current debates on regulation.
The course content includes a broad overview of regulatory trends across the world; regulatory literature from UK, USA, Australia, Europe and Latin America; an introduction to regulation through international instruments by the WTO, UN agencies. A number of classes will be devoted to introduction to the various perspectives, including critical perspectives, on Regulatory Governance.
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RG 4 & RG 8: Basics of Financial Analysis and Financial Aspects of Regulation(2 &1 credit
respectively, sem. 1 & 2)
Financial management is one of the core functions of all forms of commercial and non-commercial enterprises and development projects/ programs. Understanding regulation of such enterprises and projects/programs requires basic understanding of various financial concepts and tools. This course is aimed at acquainting the students with the basic concepts, terms, methodologies and analytical tools used in project finance analysis. It will include basics of how to examine the technical aspects of a typical industrial/ infrastructure project having a bearing on its financial aspects, estimation of project cost, different sources / instruments of financing the project, basics of costing and accounting concepts, assessing the financial viability of the project and understanding financial statements like profit & loss account, balance sheet and cash flows. Part 2 of the course will provide deeper insights of costing, accounting, balance sheet analysis.
RG 5 & RG 12: Research Methods – Part I & II (2 credits each, semester 1&2)
These courses are aimed at developing conceptual understanding and a skill-set on research methods and tools applied in social sciences. The courses will comprise of the basics of qualitative and quantitative research and other dimensions of research methodologies.
RG 6: Concepts and Theories in Regulatory Governance (2 credits, semester 2)
This course provides students the concepts and theories that underpin different regulatory governance models. Although much of the theoretical texts are written with a certain social and political context, every attempt will be made to understand these within the Indian context, wherever relevant.
The course content will include understanding Regulation; definition of regulation; principles of regulation; General Theories of Regulation (Public interest theories of Regulation; Private interest theories of Regulation; Institutionalist theories of Regulation) and the issue ofRegulatory Legitimacy and Democracy.
RG 7: Economics for Regulation (3 credits, semester 2)
The course is meant to provide the necessary background of various economic concepts and analysis framework relevant to the field of regulation. The applications of the same will be discussed in courses such as Financial Aspects of Regulation, Instruments of Regulation, Regulatory Impact Assessment and courses on Sectoral Regulation. The course will include basics of macro and microeconomics, public finance and institutional economics.
RG 10 & RG 16: Instruments of Regulation – Part I& 2 (2 & 4 credits respectively, semester 2
19 These courses aims at exposing students to and building skill set of the students in diverse set of instruments of regulation. Instruments of regulation pertain to the tools and techniques employed to achieve the regulatory objectives such as the different incentive and disincentive mechanism. Apart from specific tools, the course will also focus on different approaches to regulation such as self-regulation, co-regulation and meta-regulation, prescriptive regulation, performance-based regulation, hybrid regulation.
The first part of the course will introduce the different typologies of the instruments/tools as elaborated by different authors such as Christopher Hood, Lester Salamon, Kenneth Richards, Van der Doelen, Gunningham and Grabosky, Parker and Braithwaite, McConnell and Enmore, Daintith, Morgan and Yeung, Arie Freiberg. Introductory details of a selected typology (such as the recent work of Arie Freiberg) will also be covered in the first part of the course.
Building on this foundation, the second part will focus on advanced techniques of some selected and relevant tools such as tariff determination and regulation, contract regulation, licensing-certifications and other authorization techniques, standard setting, and informational regulation.
RG 9: Regulatory Impact Analysis (2 credits, semester 2)
This course on Regulatory Impact Analysis or RIA aims at building capabilities of students to design RIA studies and apply the same in the process of regulatory design and assessment. The course will comprise of the various approaches and analytical methods of conducting RIA. The focus will be on application of cost-benefit analysis and other analytical tools (some of these tools will be taught in other courses such as the course on Financial Aspects of Regulation) for designing and assessing regulations. Innovative tools such as multi-criteria analysis, systems analysis, and distributional impact assessment will also be included in the course contents.
RG 11: Basic Course on Regulatory Skills (1 credit, semester 2)
This course seeks to equip students with the basic skills of drafting legal documents essential for regulatory practice and functioning. It also seeks to equip students with advocacy skills. The skill building component will enable students to be effective practitioners in the field of regulatory governance.
The course content will include legal drafting (rules and legal submissions); legal Interpretation; writing opinions and judgments; legal and policy advocacy and intervention skills.
RG 13: Introductory Course on Sectoral Regulation (5 credits, semester 2)
The aim of this course is to give exposure to students of the wide range of application of regulatory theory and practice in different commercial and social sectors. The focus will on coverage of the sectors at the preliminary level rather than the depth of the content in each sector. The tentative list of sectors includes: electricity, environment, hydrocarbons (fossil fuel), labor, land, micro-finance, transport, telecommunications, and water sector. The course will highlight
20 on the perspectives, challenges and experiences of regulation in each of this sector. This introductory course will be followed by in-depth courses in the third semester on regulation in some selected sectors.
RG 15: Introduction to Social and Environmental Regulatory Rationales (2 credits, semester
3)
The course will expose students to the social and environmental aspects of regulatory governance. Although these aspects will be a running thread in all courses, this particular course will focus on application of the social and environmental aspects in specific regulatory setting. The course content will include Social Aspects of Regulation (Equality/ Discrimination; Equity and Access; Labour Rights; Human Rights; Consumer Protection; Quality Management; Bribery/Corruption) and Environmental Aspects of Regulation (environmental sustainability and inter generational equity; ecosystem services; environment impact assessment).
RG 17: Regulatory Functioning: Processes, Procedures and Activities (2 credits, semester 3)
Due processes form an integral part of the regulatory legitimacy. This course is meant to sensitize the students on the importance of different regulatory processes. This process view to regulation will help in understanding the different facets of transparency and public participation in regulation. Apart from the general procedural dimensions the course will also provide concrete examples of regulatory processes such as the tariff determination process and license allocation process. It will also comprise of models of consumers or user participation.
RG 18: Law for Regulation (2 credits, semester 3)
The course introduces students to the laws that have relevance to and impact regulation and regulatory models across sectors. The course will provide the base for understanding components of regulation that are guided by principles of corporate governance and the competition policy in the country. It also equips students with basic knowledge of the contract law critical for regulatory design and functioning. The course content will include evolution and issues in corporate governance in India; corporate social responsibility; emerging issues in competition and its relevance for regulation; Contract Act.
RG 19: Elective Course on Sectoral Regulation: Electricity Regulation (2 credits, semester 3)
The course aims at building advanced-level understanding of the theory and practice of electricity regulation. The course comprises of the critical analysis of the evolution of electricity regulation in India while examining future possibilities and challenges. The course focuses on tariff setting, power purchase and capacity addition, transmission pricing and planning, consumer service and monitoring performance, role of markets and measures to encourage transparency, accountability and participation.
21
RG 20: Elective Course on Sectoral Regulation: Micro Finance Sector (2 credits, semester 3)
Micro-Finance in general and micro credit in particular, as an instrument, is increasingly being adopted by government as well as non-government organizations working on livelihood issues of urban as well as rural poor. Micro credit is also one of the components of “Financial Inclusion” program launched by Government of India. These instruments and institutions are and will be catering to the financial needs of poor and the financially illiterate sections of society. The Introductory Course in second semester (i.e. RG 13) will provide a bird's eye view of this sector and identify emerging regulatory issues for this sector.
Whereas the Elective Course in semester three will include theoretical underpinnings of the Micro Finance Sector, Evolution of this sector all over the world and in India, Implications of the commercialization of this sector, present efforts to regularize this sector and acquainting with the regulatory models in other countries.
RG 21: Elective Course on Sectoral Regulation: Occupational Health and Safety Regulation
(2 credits, semester 3)
This course provides an overview and challenges to regulation of occupational health and safety for workers. The course explores the ‘command and control’ mode of regulation in the country. The course content will critically examine the regulations that have an impact on OHS from both a labor perspective and an environmental perspective.
RG 22: Electives in Sectoral Regulation: Water Regulation (2 credits, semester 3)
The course aims at building skills in various regulatory approaches and methods in or relevant to the water sector. It comprises of regulatory methods applied for water tariff, allocation, pollution control, water services, and water infrastructure. Special cases of regulation such as groundwater regulation and regulation of public utilities will also be included. Apart from skill sets around the tools and techniques of water regulation, the course will expose students to recent developments related to regulation of water conflicts and water rights.
RG 23: Research Design and Proposal for Thesis / Project (2 credits, semester 3)
This course is aimed as a preparatory course for undertaking independent research in the fourth semester. The course will focus mainly on the design elements of research such as literature review, problem structuring and articulation, formulating research questions, identifying appropriate methodology and logical connections within the various design elements.
22
VII. Details of Courses
Semester I Courses
RG1: Introduction to Public Policies: Concepts, Theory, and Practice
Course Title and Number Introduction to Public Policies: Concepts, Theory, and Practice (RG 16)
Semester I
Course Design Team Subodh Wagle
Course Teacher (s) Subodh Wagle
Total Credits 2
Total Credit Hours 30
Rationale
The program in Regulatory Governance, though interdisciplinary in nature, is focused on the policy and governance aspects. The program attracts students from various disciplines. N order to prepare for a variety of course in the program, in the initial stage, these students need some foundational understanding of different conceptual, theoretical, institutional, and practical dimensions of the public policies and governance. This course is designed with this in mind as the objective.
Objectives of the Course
• To introduce the students to different basic aspects of public policies, such as the underlying concepts, definitions, models of public policy making, models of policy implementation, policy advocacy
• To introduce students to instruments and techniques used for policy implementation • To introduce students to the discourse around the concept of governance
Course Content
1. Basic Concepts related to the field of Public Policy (2 Hrs.)
Introduction to the Basic Concepts such as Power, Authority, Politics, State, Sovereignty, Civil Society
2. Fundamental Aspects of Public Policies (2 Hrs.)
Introduction to different characteristics and aspects of the concept of public policy
3. Models of the Public Policy Making (6 Hrs.)
23 Incrementalism, Mixed Scan, Garbage-Can) as well as models of policy-making
processes (such as Group, Elite, Political System, Process)
4. Governance Dynamics Model: How Policies Work Out in the Field (4 Hrs.)
Introduction to the model of the actual working of policy instruments as well as governance agencies in the field, explaining governance failures
5. Policy Instrumentation and Evaluation (2 hours)
a. Role of instruments in public policy b. Types of policy instruments
6. Policy Analysis and Evaluation (2 hours)
a. Policy analysis tools
b. Role of policy analysis in policy formulation
7. Introduction to Discourse on Governance (4 Hrs.)
a. Mainstream Discourse b. Critiques and Criticisms
8. Policy Advocacy: Concepts and Practice (4 Hrs.)
Introduction to various concepts underlying the practice of policy advocacy as well as introduction to the actual practice of the policy advocacy through a case study
9. Introduction to Regulatory Governance: Concepts and Institutions (4 Hrs.) Brief Introduction to the new instruments of regulatory governance, viz., the
independent regulatory governance, especially to the underlying concepts, structures, and procedures
Method of Teaching Lectures and presentations
Method of Assessment and Weightage
• Class Test (30 %)
• End-Semester Exam (70%)
Essential Readings
1. Basic Concepts related to the field of Public Policy (2 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle (based on the book: Andrew Heywood. Key Concepts in Politics. Macmillan)
2. Fundamental Aspects of Public Policies (2 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle (based on the books by Thomas Dye (page 1-2) and James Anderson (page 1-6)
3. Models of the Public Policy Making (6 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle (based on the books by Thomas Dye (pages 11-27) and James Anderson (pages 912, 18-24)
4. Governance Dynamics Model: How Policies Work Out in the Field (4 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle
5. Policy Instrumentation and Evaluation (2 hours)
24 Sticks & Sermons: Policy Instruments and their Evaluation. Transaction
Publishers:USA – Chapter 1
b. Hood Christopher. 1983. The Tools of Government. The Machmillan Press: UK. – Chapter 1
6. Policy Analysis and Evaluation (2 hours)
a. Dye Thomas. 1981. Understanding public policy. Prentice-Hall – Chapter 15 7. Introduction to Discourse on Governance (4 Hrs.)
a. Gisselquist, Rachel M., 2012, Good Governance as a Concept, and Why This Matters for Development Policy, Working Paper No. 2012/30, UNU-WIDER, World Institute for Development Economics Research
8. Policy Advocacy: Concepts and Practice (4 Hrs.)
a. Presentations and Lecture Notes by Prof. Subodh Wagle
9. Introduction to Regulatory Governance: Concepts and Institutions (4 Hrs.)
a. Presentations and Lecture Notes by Prof. Subodh Wagle
b. Levi-Faur David. 2010. Regulation and Regulatory Governance. Jerusalem Papers in Regulatory Governance Paper Series. Working Paper No. 1
25 RG2: Introduction to the Indian Legislative, Legal, and Administrative System
Course Title and Number Introduction to the Indian Legislative, Legal, and Administrative System (RG 2)
Semester I
Course Developer/s RoopaMadhav
Course Teacher (s) RoopaMadhav
Total Credits 2
Total Credit Hours 30
Rationale
This course introduces students to the legislative process, more particularly locating administrative and rule making functions within the broader legal framework. It also introduces students to regulation in the command and control model, juxtaposing it with the emerging forms of regulatory models. It is designed to provide the base for understanding rule making, legal interpretation, legal drafting and advanced courses in law, in the next few semesters.
Objectives of the Course
To provide an overview of the Indian Legal System.
To introduce students to the legislative process, more particularly locating administrative and rule making functions within the broader legal framework.
To provide the foundation for understanding the legal aspects of regulation and its gradual evolution in recent years.
Course Content
1. Overview of the Indian Legal System (5 hours)
o Brief historical evolution and outlining the major influences on legal content and legal institutions in the country.
o The Indian Judiciary – an overview.
2. Introduction to the Indian Constitution and the legislative process (6 hours) o Philosophy and key features of the Indian Constitution.
o Fundamental Rights and Directive Principles of State Policy o Decentralisation
3. Federalism, Separation of Powers and Administrative Institutions (4 hours)
(NOTE: Course Contents 1 TO 3 constitute a one credit course jointly offered for MPRG & MPWPG Courses)
4. Understanding delegated legislation (6 hours)
o Rule of Law; Principles of Natural Justice; Doctrine of Bias
26 circulars.
5. Administrative Adjudication and Judicial Review of Regulatory Decisions(4 hours) 6. Regulation in the command and control model (5 hours)
Method of Teaching Primarily lectures, discussions and reading original texts of legislations and court judgements.
Method of Assessment and Weightage
Written Exam (70 %) Assignment (20 %) Class participation (10 %)
Essential Readings
I. Overview of the Indian Legal System
• Kamala Sankaran and Ujjwal Kumar (eds), Towards Legal Literacy: An Introduction to Law in India, OUP, New Delhi,2008 Chapters 2 & 4
• UpendraBaxi, “The Rule of Law in India”, 4 International Journal of Human Rights 6-25 (2007)
II. Introduction to the Indian Constitution and the Legislative Process
• D. D. Basu, An Introduction to the Constitution of India, Prentice Hall, New Delhi, Chapters 3 and 4.
III. Federalism, Separation of Powers and Administrative Institutions
• D. D. Basu, An Introduction to the Constitution of India, Prentice Hall, New Delhi, Chapters 15 and 17.
IV. Understanding delegated legislation
• M.P. Jain, Parliamentary Control of Delegated Legislation, (6thEdn) 2007, Chapters 3 & 4.
• Sathe S.P, Administrative Law, 7th Edition, Butterworths, New Delhi, 2004, Select Chapter 3 and 5.
• Government of India, Second Administrative Reforms Commission, 13th Report, Chapter 6, Creating an Effective Regulatory Framework (April, 2009)
Additional Readings
• Kapur, Devesh and PratapBhanu Mehta, Public Institutions in India: Performance and Design, Oxford University Press, Delhi, 2005.
• Hasan, Z., E. Sridharan, R. Sudarshan (eds.), India’s Living Constitution: Ideas, Practices and Controversies, Permanent Black, 2009.
• Ramesh Aroa&RajniGoel,(2005). Indian Public Administration, VishwaPrakashan, New Delhi.
27 RG3: History and Perspectives of Regulation
Course Title and Number History and Perspectives on Regulation (RG 3)
Semester I
Course Developer/s RoopaMadhav/Prof. Subodh Wagle
Course Teacher (s) RoopaMadhav/Prof. Subodh Wagle
Total Credits 2
Total Credit Hours 30
Rationale
This course provides a basic overview of the history, both national and international, in Regulatory Governance. The module will also provide a quick overview of the context within which the regulatory institutions are being established in India. The history and perspectives course will provide students the foundation to engage with current debates on regulation.
Objectives of the Course
To introduce students to the origins of regulatory governance across the world.
To expose students to the different models of regulatory governance and their historical evolution.
To introduce students to the various perspectives on regulation and the more current debates and critiques on regulation.
To provide an overview of regulatory institutions in India.
Course Content
- Introduction to Regulation (4 hours)
- History of Regulation in different countries – UK, USA, Australia, Europe and Latin America (12 hours)
- Perspectives on Regulatory Governance (8 hours)
- Introduction to Regulatory Institutions in India (6 hours) – Regulation through departments and agencies (Command and Control Model); Statutory Independent Regulatory Agencies; Self-Regulatory Authorities.
Method of Teaching Lectures, discussions, and guest lectures
Method of Assessment and Weightage Written Exam (70 %) Assignment (20 %) Class participation (10 %) Essential Readings I. Introductory Readings
28 • Braithwaite, J., Coglianese, C., & Levi-Faur, D. (2007). Can regulation and
governance make a difference?,Regulation & Governance, 1: 1-7.
• Yeung, K., The Regulatory State, in Balwin, R., Lodge, M and Cave, M (eds) Oxford Handbook of Regulation (2010) Oxford University Press
II. History of Regulation United Kingdom
• Julia Black, Tensions in the Regulatory State, Public law, 2007 (Spring). pp. 58-73.
• Moran, M. (2001). The Rise of the regulatory state in Britain. Parliamentary affairs, 54(1), 19 –
• 34. (downloaded)
• Moran, M. (2003). The British regulatory state: High modernism and hyper-innovation, Oxford: Oxford University Press.
United States of America
• Robert Rabin, Federal Regulation in Historical Perspective, 38 Stan. L. Rev. 1189 (1986) (downloaded)
• McCraw K. Thomas, Regulation in Perspective: Historical Essays, Harvard University Press, Cambridge, 1981.
• McCraw K. Thomas (ed) Prohpets of Regulation: Adams, Brandeis, Landis& Kahn.
Europe
• Majone, Giandomenico. 1997. From the positive to the regulatory state: Causes and consequences of changes in the mode of governance. Journal of Public Policy 17 (2): 139-167.
• Majone, G. (1994) 'The Rise of the Regulatory State in Europe', West European Politics, Vol. 17, No. 3, pp. 77-101
III. Perspectives on Regulatory Governance
• Wilson, J Q (1980) The Politics of Regulation, New York, Basic, Ch 10 'The Politics of Regulation': 357-94
• Hall, P and Taylor, R (1997) 'Political Science and the Three New Institutionalisms' (1997) 44 Political Studies 936-57.
• Koelble, T, 'The New Institutionalism in Political Science and Sociology' [1995] Comparative Politics 231-243.
• C. Veljanovski, ‘Economic Approaches to Regulation’ in R. Baldwin, M. Cave, and M. Lodge (eds.), The Oxford Handbook on Regulation (Oxford, 2010) Chapter 2
Additional Readings
• Macey, J (1992) 'Organisational Design and the Political Control of Administrative Agencies' Journal of Law, Economics and Organisation 8: 93-110
29 'Administrative Procedures as Instruments of Political Control' Journal of Law, Economics and Organisation 3: 243-77
• Jordana, Jacint and Levi-Faur, David, (2005) Towards a Latin American Regulatory State? The Diffusion of Autonomous Regulatory Agencies across Countries and Sectors, International Journal of Public Administration, 28. IV. Introduction to Regulatory Institutions in India
• Government of India, Second Administrative Reforms Commission, 13th Report, Chapter 6, Creating an Effective Regulatory Framework (April, 2009)
30 RG4: Basics of Financial Analysis
Course Title and Number
Basics of Financial Analysis (RG-4)
Semester I
Course Development Team
SanjeevChandorkar
Course Teacher (s) SanjeevChandorkar
Total Credits 2
Total Credit Hours 30
Rationale:
India is witnessing large investments in infrastructure, industrial as well as social. For various reasons, the sectors which for decades being financed mainly through budgetary allocations are being opened up for private sector participation. These developments, not only have a bearing on the way in which these sectors are being financed, but are also being reflected in changes in the related policies and emergence of regulatory structures for these sectors. Insights into “Basics of Financial Analysis” are necessary not only for those who may tend to subscribe to the political economic thoughts driving these developments, but even those who intend to oppose them and also for those who endeavor to provide alternative models.
Objectives of the Course
• To equip students with the basic concepts, terms, methodologies, mathematical formulas being used in Financial Analysis.
• To equip the students with the insights of the issues in financial aspects of financing, policy making and regulation for infrastructure as well as social sectors.
• To lay foundations for the students to take up advance course in the related subject in the subsequent semester
Course Contents
Introductory lecture ( 2 Hours)
o Overview of the structure of the Course and significance of “Financial Analysis” Assets ( 4 Hours)
o Technical Aspects, Estimation of Project Cost, Peculiarities of Infrastructure Assets Means of Financing( 6 Hours)
o Capital Structure, Debt Vs Equity, Capital Market Concepts, Issues in FOREX financing
Basic Cost and Accounting Concepts (4 Hours)
o Direct and Indirect Costs, Cost behavior pattern, Basic Accounting Concepts, Introduction to Financial Statements ( 2 Hours)
o Profit & Loss A/c, Balance Sheet and Cash Flow
Operating Cycle & Working Capital Management: ( 2 Hours)
o Fixed Vs Current Assets; Peculiarities of short term finance, Components of Current Assets
Time Value of Money and Cost of Capital (2 Hours)
o Theoretical understanding of the Concept, techniques, Use of Discounting Tables, Basis for IRR / NPV, Viability Gap Funding, Estimating Cost of Capital, Factors
31 affecting cost of capital
Financial Assessment (6 Hours)
o Estimation of Projected Profitability, Appraisal Ratios: Profitability Ratios (DCF and Non DCF) Different aspects of “viability”, Financial Assessment Ratios for
Infrastructure Projects.
Analysis of Financial Statements (2 Hours)
o Balance Sheet, Profit & Loss A/c, Ratio Analysis, Qualitative aspects of Annual Reports
Method of Teaching Lectures, discussions and exercises
Method of Assessment
and Weightage • Class Test -I 50% • Class Test -II 50% Essential Readings
(Relevant Extracts from the individual Chapters)
• Finance for Non-Finance Executives – by Dr Prasanna Chandra – McGraw Hill Publications (Chapters 1,3,4,7 and 10)
• Projects -Planning, Analysis, Selection, Financing, Implementation and Review by DR Prasanna Chandra (Chapters 5,6,7, 9, 18, 19 and 20)
• Financial Statements Analysis and Security Valuation -by Stephan Penman (Chapter 1 and 2) • Financial Accounting -by DhaneshKhatri (Chapters 1,2,3 and 4)
• Fundamentals of Cost Accounting – by Lanen, Anderson and Maher (Chapters 2 and 3)
• Foreign Exchange, International Finance and Risk Management – by A V Rajwade – Published by Academy of Business Studies (Chapters 2 and 3)
32 RG5: Research Methods – I
Course Title and Number Research Methods – I (RG5)
Semester I
Course Teacher (s) Dr. Lalitha Kamath and Ms. Divya Singh
Total Credits 2
Total Credit Hours 30
Objectives of the Course
The main objective of the course is to familiarize students with the most commonly used qualitative research methods. The course will prepare them to utilize these methods in their own research, and to evaluate the qualitative work that others have done.
Course Contents
1. Introduction to course (2 hrs)
2. Designing qualitative studies (4 hrs): How to think about Research Methods,
Sampling, Concepts, Designing qualitative studies, Discussion of how to develop a proposal
Qualitative Techniques for data collection and analysis (12 hrs)
5. Participant/Direct observation, analysis of documents (2 hrs): Principles of
ethnographic field research; participant observer continuum; strategies for entering, watching, listening and recording; exiting the field; maintaining a journal.
6. Interviewing (4 hrs):Interview format and sampling, Types of interviews, selecting
the respondents, the interview guide, setting up interviews, writing notes/maintaining a diary, Ask how not why
7. Focused group discussions (2 hrs)
8. Participatory Research Methods (4 hrs): Transect walk, timeline, oral history
(biographical and historic methods), social and resource mapping, seasonal calendar, institutional venn diagrams
9. The case study method(4 hrs)
10. Analysis and Interpretation (4 hrs): Discussion of analysis techniques: key
moments in time and strategy; Coding; Analytic memos, Identifying categories; going beyond categories- finding what doesn’t fit
11. Grounded theory (2 hrs)
12. Reporting and representing the results of qualitative analysis (2 hrs) Method of Teaching Lectures and classroom discussions
Method of Assessment and Weightage
Course participants will have to write a 20 - 25 page paper describing a field research project that they conduct utilizing qualitative research methods (20%), and a research proposal
33 which they orally present in class (80%)
Essential Readings
• Ackroyd, S & John Hughes (1992), Data Collection in Context, New York: Longman
• Hakim, C (1987), Research Design: Strategies and Choices in the Design of Social Research, London: Allen &Unwin Publisher
• Kumar, R (2009), Research Methodology, Delhi: Dorling Kindersley (India) Pvt. Ltd.
• Newby, T J & P A Ertmer (1997), Practical Research Planning and Design, New Delhi: Prentice Hall of India, Private Limited
• Young, P V (1966), Scientific Social Survey Research, Englewood Cliffs: Prentice Hall Inc.
