UNDERGRADUATE PROGRAM

Turning Passion to Purpose

The Economics Program* aims to expose students to the theoretical, analytical frameworks and policy within the discipline of Economics. This program enables students to rationalize through analytical frameworks, evaluate empirical evidence and develop a critical approach to understanding interactions between theory and policy. Through this program students will examine a range of questions: How businesses compete and manage to survive in a globalized economy? What are the main drivers of the economy and how are policies formulated to promote growth and development with minimum degree of inequality across the country? What is the importance of taxation and government expenditure, and its impact on the growth of the economy? How mathematical models are used to explain economic phenomenon?
[* In addition to B.A. in Economics, a B.A. (Hons) program in Economics is also offered. Minors are not available in the Honours program.]

The Economics Major enables students to excel in the area of economic analysis by contributing to debates and economic commentary, decision making in corporate and/or government environment, and contribute towards research. The courses cover a range of courses in Economics viz. Microeconomics, Macroeconomics, Indian Economy, International Economics, Econometrics, etc. These courses are covered at introductory, intermediate and advanced level. At the introductory level, the focus of the course is on qualitative aspects, while at advanced levels the course focuses on quantitative aspects and applications of the model. The Program goes beyond mere exploration of text and concentrates on development of both Qualitative and Quantitative reasoning capabilities. The Program trains students to generate analysis and critical insights rooted in appropriate methodological approaches, through reflective reading and writing and interpretation of data pertaining to economic activities. These skills are imparted to students through lectures, seminars and presentations.

The Program specific introductory courses in the Major introduce students to concepts in Microeconomics, Macroeconomics and applied fields of Economics. They focus on familiarizing students with the qualitative aspects of theories and rationalize its application to everyday business activities. Intermediate courses focus on understanding the assumptions and criticisms of the theories. They focus on understanding economic thought, working of international trade systems, financial system, etc. The advanced courses in economics focus on applying mathematical tools to economic theories. The courses also encourage students to techniques used in analyzing economic data. Students are also expected to write papers on topics in Economics.

The Economics Minor exposes students to the core theoretical foundations of Economics along with their applications to areas such as International Economics, Public Finance, etc. The Program equips students to generate analysis and critical insights rooted in appropriate methodological approaches, through reflective reading and writing and interpretation of data pertaining to economic activities. These skills are imparted to students through lectures, seminars and presentations. The students pursuing Minor in Economics can choose to follow one of the tracks, quantitative or non-quantitative. Those who choose quantitative track will take quantitative/statistics/mathematics related course; while those who choose non-quantitative track will take other thematic courses.  

The Economics Program prepares students for not only advanced graduate-level work in Economics, but also in Business Management, Law, Environmental Studies, Public Policy, Actuarial Sciences or related social sciences. With its equal emphasis on theory as well as analysis, it will serve as a sound grounding for students interested in pursuing careers in the Civil Services, Financial Service Institutions, Market Research Firms, Data Processing Consulting, Economic Journalism, Research, Intergovernmental Organizations or Non-Governmental Organizations.

PROGRAM AIMS

MAJOR

The Economics Major Program aims to:

  • instil breadth of knowledge by exposing them to a range of disciplines, while encouraging them to progress towards an in-depth understanding of their chosen fields
  • develop an analytical, contextual and interdisciplinary understanding of concepts, theories and associate them with real life situations
  • expose students to multiple worldviews and foster skills in close reading, critical analysis and teamwork
  • develop habits that foster independent thought and a critical approach to content. The Program not only strives to deliver content but also tries to inculcate a spirit of inquiry within the student
  • develop a solid grasp of the concepts, theories, analytical frameworks within the discipline of Economics
  • prepare students for graduate study in any of the sub-disciplines of Economics
  • excel in the area of economic analysis, economic model building, decision making and intensive academic research

MINOR**

The Economics Minor Program aims to:

  • instil breadth of knowledge by exposing them to a range of disciplines, while encouraging them to progress towards an in-depth understanding of their chosen fields
  • develop an analytical, contextual and interdisciplinary understanding of concepts, theories and associate them with real life situations
  • expose students to multiple worldviews and foster skills in close reading, critical analysis and teamwork
  • develop habits that foster independent thought and a critical approach to content. The program not only strives to deliver content but also tries to inculcate a spirit of inquiry within the student
  • develop a solid grasp of the concepts, theories, analytical frameworks within the discipline of Economics
  • prepare students for graduate study in any of the sub-disciplines of Economics

**Minors are not available in the Honours program.

PROGRAM OUTCOMES

MAJOR

On completion of the Major Program the student will:  

  • demonstrate in-depth knowledge and understanding of varied economic concepts and theories and their application
  • demonstrate understanding of various schools of economics and their evolution over time
  • be able to collect data from primary and secondary sources, perform analysis, and generate relevant reports
  • be able to deconstruct economic data and analyze it demonstrating economic research skills, synthesize information and generate original insights
  • think, read and write critically about economic theories and changing economic situations
  • be able to communicate, articulate and reason effectively

MINOR***

On completion of the Minor Program the student will:  

  • demonstrate knowledge and understanding of varied economic concepts and theories and their application
  • explore major schools of economic and their evolution over time
  • be able to undertake data collection from primary and secondary sources and perform analysis and generate relevant reports
  • think, read and write critically about economic theories and changing economic situations
  • be able to communicate, articulate and reason effectively

***Minors are not available in the Honours program.

24 MAJOR COURSES

1. Principles of Economics OR Thinking Like an Economist 9. Microeconomics II 17. Financial Markets and Institutions
2. Quantitative Methods for Economics 10.  Macroeconomics II 18. Econometrics II
3. Introductory Calculus 11. Mathematics for Economics II 19. Development Economics
4. Mathematics for Economics I 12. Economics of Industry, Innovation and Strategy 20. Environmental Economics
5. Microeconomics I 13. Econometrics I

21. Gender Economics

6. Macroeconomics I 14. Public  Economics 22. Behavioural Economics
7. Indian Economy 15. International Economics 23. Quantitative Macro-Finance
8. Labour Economics 16. Banking  and Insurance 24. Applied Health Economics

 

1. Principles of Economics

The objective of the course is to provide a basic introduction to basic concepts and terminologies in micro and macroeconomics. The course will use examples from day-to-day activities.

Thinking Like an Economist

To explain the inner workings of an economist's brain would seem an impossible and thankless task. The stereotypical economist, after all, is more enamored of theory than reality, unable to reach conclusions and boring beyond all words.
This exciting course is taught in a non-technical way and will provide the students with a sound knowledge of the key principles of Economics. Economics is the issue of our times and influences almost every aspect of our lives. By drawing on real-world applications, students will learn to use the tools of economic analysis to offer an insight into every day events, answer simple and highly complex questions on a range of topics and explain the seemingly inexplicable behavior of individuals, firms and governments.

2. Quantitative Methods for Economics

This course is designed to give undergraduate students a brief overall introduction to mathematics and statistics for economics. It will deal with fundamental concepts required to model, analyse and solve problems arising in the Social Sciences. This course assumes that the student undertaking this course has little to no formal introduction to mathematics and statistics at the higher secondary level. Though this course is primarily designed for economics, it is recommended for students planning to learn or revise their quantitative skills.

3. Introductory Calculus

This course introduces students to the rudiments of calculus and prepares them for study in courses which require calculus based techniques. It focusses primarily on applications and covers the basics of limits, continuity, differentiation and integration of one variable. This course is challenging for those who have done calculus in high-school and yet introduces the basics whose mathematical preparation is less advanced.

4. Mathematics for Economics I

Mathematical economics is an approach to economic analysis in which economists make use of mathematical techniques in analysing economic models. Mathematical economics refers to the application of mathematics to the purely theoretical aspects of economic analysis. The objective of this course is to introduce students to important mathematical tools widely used in economic literature and help them develop and solve economic models. This acts as a foundation to other field courses at higher levels in the discipline. The course starts with a review of mathematical fundamentals of functions, algebra and the concept of the derivative of a function and limits. The notions of modelling in economics are also covered in the first phases of the course. From there the course goes on to linear models, vectors and matrices. Then students are introduced to the concepts of finding the maximum or minimum of functions and thereafter to the concept of optimization. In optimization, students will first learn the concept of unconstrained maxima and minima and then the concept of constrained maximization or minimization.

5. Microeconomics I

This course on Microeconomics offers a basic introduction to the working of market systems. It aims to provide student participants some basic theories and models and deals with the consumer behaviour and firms, demand and supply of goods, and services and resources in the economy. This will help them to understand how several complex processes in the world functions. It will give them an insight into how humans and firms take decisions and how their decisions in turn affect each other. A good command over Microeconomics is necessary for critically appraising public policy and other economic functions.

6. Macroeconomics I

This course on Microeconomics offers a basic introduction to the working of market systems. It aims to provide student participants some basic theories and models and deals with the consumer behaviour and firms, demand and supply of goods, and services and resources in the economy. This will help them to understand how several complex processes in the world functions. It will give them an insight into how humans and firms take decisions and how their decisions in turn affect each other. A good command over Microeconomics is necessary for critically appraising public policy and other economic functions.

7. Indian Economy

This course familiarizes students with the evolving trends in the Indian Economy. In particular this course introduces the historical backdrop of the Indian economy and guides the students through the progress India has witnessed over the years starting with agricultural development, industrial growth to the rise of the service sector, opening up of the economy and finally infrastructure and human development.

8. Labour Economics

This course will introduce students to the exciting applied field that is labour economics. The leading idea throughout the course is that economics is an empirical science (not a set of theorems) meant to explain actual behaviour. In addition, the labour market is the playing field for numerous important economic policies and institutions: payroll taxes, minimum wages, collective bargaining, etc. A major task for labour economists is to explain how markets function under these regulations. This course is designed to teach students how to use economic tools and various databases to analyse issues related to labour markets. The course ends with an in-depth analyses of CEO pay trends and trends in the pay gaps.

9. Microeconomics II

This course on Microeconomics continues from ‘Microeconomics I’ and it aims to provide student participants exposure to recent and advanced theories and models of microeconomics. A good command over Microeconomics is necessary for analysing the micro-foundation of the macroeconomic activities and critically appraising public policies and its implications.

10. Macroeconomics II

This course provides in-depth knowledge of some relevant macroeconomic models. The participant will study these core macroeconomic theories in detail. The course aims to improve the understanding the economic behaviour of an economy. The course also provides an analytical approach towards macroeconomic problems.

11. Mathematics for Economics II

This is an advanced level course in mathematical economics. This course will begin by reviewing the basic mathematics for economics concepts. Then it will introduce students to value functions and envelope theorem using different economic applications. The next topic will include introduction to basic integration and dynamic models in economics. It will also introduce students to the concept of inequality constraints. This course will also include review of basic statistical concepts, hypothesis testing and statistical inferences and applications using econometric software, STATA

12. Economics of Industry, Innovation and Strategy

The course introduces the students to current and traditional theories in Industrial Economics. It examines the internal structure of the firm and analyses its behaviour. It analyses the various aspects of strategic interactions between firms and determines the industrial structure and market conduct. It also discusses the role of policy in the context of competition and industrial policies and regulation. This course also uncovers the linkages between theories of economics and strategic management. Some tools and concepts from microeconomics, innovation and industrial organization are examined in the context of real world business scenarios and their relevance to corporate policy making is critically evaluated.

13. Econometrics I

This course aims to introduce the students to the various econometric techniques as applied to cross-section data. The course begins with discussion of techniques under stringent assumptions. These assumptions are later relaxed, and the problems, tests and corresponding remedial measures are discussed. Some knowledge of statistics is assumed.

14. Public Economics

This course introduces students to the theories in Public Finance, and to understand the potential consequences of policies through these theories. The course also discusses the application of these theories to the Indian economy. The topics covered in this course include: Theory of Social Goods and Role of the State, Public Expenditure, Public Revenue and Taxation, and Public Debt and Fiscal Federalism.

15. International Economics

The focus of this course is to discuss models and issues in international trade theory and policy. It covers the main theories of international trade. It also examines issues and models of international trade policy.

16. Banking and Insurance

To be updated

17. Financial Markets and Institutions

The course will try to take a comprehensive view of the financial markets and financial Institutions in India, their functioning, and regulatory systems that are in place to ensure smooth running and management of these markets. It will familiarise the learner with various participants in Financial Markets including Financial Intermediaries and also to some extent various types of financial instruments available for investment, speculation and arbitrage.

18. Econometrics II

This course aims to build upon ‘Econometrics I’ by introducing the students to techniques of analysing time-series and panel data as well as other advanced methods.

19. Developmental Economics

This course will help students understand the underlying theories of development. Apart from learning about the historical progression of growth and development studies this course also encourages creative thinking in terms of analysing the relevance of several of these theories in today's world. The course also introduces empirical research papers to help students get a feel of recent studies that have come out in the field of development economics.

20. Environmental Economics

Economics is often defined as the study of allocation of scarce resources. Environmental Economics then might be somewhat provocatively said to be economics par excellence – the discipline looks primarily at ‘resources’ in the literal sense. A section of environmental thought argues for the conservation of the environment for its inherent intrinsic value, not for its economic uses for humans, which is what the word resource implies. This is an intermediate course in environmental economics and some basic knowledge of microeconomics and mathematics in required.

21. Gender Economics

This course attempts to use economic analysis as a lens to study and explain gender differences in economic outcomes and/or behaviours. It will follow a life-cycle approach. The course will look at society’s general preference for a male child. It will examine gender differences in human capital investments in children and youth and its effects on labour market outcomes such as wages and employment. It will also consider gender based differences in the well-being of elderly. The course will also attempt to discuss the “non-market” outcomes and analyse a number of potential policy responses to the inequalities arising out of gender differences. This course is primarily research based.

22. Behavioural Economics

The objective of the course is to provide a basic introduction to basic concepts in behavioural economics. It is a novel field in Economics which explores cases where traditional economics fails to be replicated in the real world. Learning models in economics are critical to understand the analytical setup of the subject but this course aims to provide some intuition into how real world applications may not sometimes mimic standard textbook models.

23. Quantitative Macro-Finance

This course is intended to provide students with an understanding of the relationship between financial markets and the macro-economy. The first part of the course focuses on theoretically establishes the link between the macro economy and asset prices. This course will study the relationship between financial markets and the macro-economy. Topics include the behaviour of returns of different asset classes over the business cycle, the relationship between returns and inflation, and the implications for expected returns and portfolio choice. The second part of the courses will introduce time series econometric methodologies such as liner time series models (univariate and multivariate), forecasting and volatility models and finally the third part of the course will use these techniques to analyse real life linkages between the macro economy and financial markets

24. Applied Health Economics

This course attempts to use economic analysis as a lens to study and explain gender differences in economic outcomes and/or behaviours. It will follow a life-cycle approach. The course will look at society’s general preference for a male child. It will examine gender differences in human capital investments in children and youth and its effects on labour market outcomes such as wages and employment. It will also consider gender based differences in the well-being of elderly. The course will also attempt to discuss the “non-market” outcomes and analyze a number of potential policy responses to the inequalities arising out of gender differences. This course is primarily research based.

23 MINOR COURSES

1. Principles of Economics OR Thinking Like an Economist 9. Macroeconomics II 17. Econometrics II
2. Quantitative Methods for Economics 10. Mathematics for Economics II 18. Development Economics
3. Mathematics for Economics I 11. Economics of Industry, Innovation and Strategy 19. Environmental Economics
4. Microeconomics I 12. Econometrics I 20. Gender Economics
5. Macroeconomics I 13. Public  Economics 21. Behavioural Economics
6. Indian Economy 14. International Economics 22. Quantitative Macro-Finance
7. Labour Economics 15. Banking  and Insurance 23. Applied Health Economics
8. Microeconomics II 16. Financial Markets and Institutions  

 

1. Principles of Economics

The objective of the course is to provide a basic introduction to basic concepts and terminologies in micro and macroeconomics. The course will use examples from day-to-day activities.

Thinking Like an Economist

To explain the inner workings of an economist's brain would seem an impossible and thankless task. The stereotypical economist, after all, is more enamored of theory than reality, unable to reach conclusions and boring beyond all words.
This exciting course is taught in a non-technical way and will provide the students with a sound knowledge of the key principles of Economics. Economics is the issue of our times and influences almost every aspect of our lives. By drawing on real-world applications, students will learn to use the tools of economic analysis to offer an insight into every day events, answer simple and highly complex questions on a range of topics and explain the seemingly inexplicable behavior of individuals, firms and governments.

2. Quantitative Methods for Economics

This course is designed to give undergraduate students a brief overall introduction to mathematics and statistics for economics. It will deal with fundamental concepts required to model, analyse and solve problems arising in the Social Sciences. This course assumes that the student undertaking this course has little to no formal introduction to mathematics and statistics at the higher secondary level. Though this course is primarily designed for economics, it is recommended for students planning to learn or revise their quantitative skills.

3. Mathematics for Economics I

Mathematical economics is an approach to economic analysis in which economists make use of mathematical techniques in analysing economic models. Mathematical economics refers to the application of mathematics to the purely theoretical aspects of economic analysis. The objective of this course is to introduce students to important mathematical tools widely used in economic literature and help them develop and solve economic models. This acts as a foundation to other field courses at higher levels in the discipline. The course starts with a review of mathematical fundamentals of functions, algebra and the concept of the derivative of a function and limits. The notions of modelling in economics are also covered in the first phases of the course. From there the course goes on to linear models, vectors and matrices. Then students are introduced to the concepts of finding the maximum or minimum of functions and thereafter to the concept of optimization. In optimization, students will first learn the concept of unconstrained maxima and minima and then the concept of constrained maximization or minimization.

4. Microeconomics I

This course on Microeconomics offers a basic introduction to the working of market systems. It aims to provide student participants some basic theories and models and deals with the consumer behaviour and firms, demand and supply of goods, and services and resources in the economy. This will help them to understand how several complex processes in the world functions. It will give them an insight into how humans and firms take decisions and how their decisions in turn affect each other. A good command over Microeconomics is necessary for critically appraising public policy and other economic functions.

5. Macroeconomics I

This course on Microeconomics offers a basic introduction to the working of market systems. It aims to provide student participants some basic theories and models and deals with the consumer behaviour and firms, demand and supply of goods, and services and resources in the economy. This will help them to understand how several complex processes in the world functions. It will give them an insight into how humans and firms take decisions and how their decisions in turn affect each other. A good command over Microeconomics is necessary for critically appraising public policy and other economic functions.

6. Indian Economy

This course familiarizes students with the evolving trends in the Indian Economy. In particular this course introduces the historical backdrop of the Indian economy and guides the students through the progress India has witnessed over the years starting with agricultural development, industrial growth to the rise of the service sector, opening up of the economy and finally infrastructure and human development.

7. Labour Economics

This course will introduce students to the exciting applied field that is labour economics. The leading idea throughout the course is that economics is an empirical science (not a set of theorems) meant to explain actual behaviour. In addition, the labour market is the playing field for numerous important economic policies and institutions: payroll taxes, minimum wages, collective bargaining, etc. A major task for labour economists is to explain how markets function under these regulations. This course is designed to teach students how to use economic tools and various databases to analyse issues related to labour markets. The course ends with an in-depth analyses of CEO pay trends and trends in the pay gaps.

8. Microeconomics II

This course on Microeconomics continues from ‘Microeconomics I’ and it aims to provide student participants exposure to recent and advanced theories and models of microeconomics. A good command over Microeconomics is necessary for analysing the micro-foundation of the macroeconomic activities and critically appraising public policies and its implications.

9. Macroeconomics II

This course provides in-depth knowledge of some relevant macroeconomic models. The participant will study these core macroeconomic theories in detail. The course aims to improve the understanding the economic behaviour of an economy. The course also provides an analytical approach towards macroeconomic problems.

10. Mathematics for Economics II

This is an advanced level course in mathematical economics. This course will begin by reviewing the basic mathematics for economics concepts. Then it will introduce students to value functions and envelope theorem using different economic applications. The next topic will include introduction to basic integration and dynamic models in economics. It will also introduce students to the concept of inequality constraints. This course will also include review of basic statistical concepts, hypothesis testing and statistical inferences and applications using econometric software, STATA

11. Economics of Industry, Innovation and Strategy

The course introduces the students to current and traditional theories in Industrial Economics. It examines the internal structure of the firm and analyses its behaviour. It analyses the various aspects of strategic interactions between firms and determines the industrial structure and market conduct. It also discusses the role of policy in the context of competition and industrial policies and regulation. This course also uncovers the linkages between theories of economics and strategic management. Some tools and concepts from microeconomics, innovation and industrial organization are examined in the context of real world business scenarios and their relevance to corporate policy making is critically evaluated.

12. Econometrics I

This course aims to introduce the students to the various econometric techniques as applied to cross-section data. The course begins with discussion of techniques under stringent assumptions. These assumptions are later relaxed, and the problems, tests and corresponding remedial measures are discussed. Some knowledge of statistics is assumed.

13. Public Economics

This course introduces students to the theories in Public Finance, and to understand the potential consequences of policies through these theories. The course also discusses the application of these theories to the Indian economy. The topics covered in this course include: Theory of Social Goods and Role of the State, Public Expenditure, Public Revenue and Taxation, and Public Debt and Fiscal Federalism.

14. International Economics

The focus of this course is to discuss models and issues in international trade theory and policy. It covers the main theories of international trade. It also examines issues and models of international trade policy.

15. Banking and Insurance

To be updated

16. Financial Markets and Institutions

The course will try to take a comprehensive view of the financial markets and financial Institutions in India, their functioning, and regulatory systems that are in place to ensure smooth running and management of these markets. It will familiarise the learner with various participants in Financial Markets including Financial Intermediaries and also to some extent various types of financial instruments available for investment, speculation and arbitrage.

17. Econometrics II

This course aims to build upon ‘Econometrics I’ by introducing the students to techniques of analysing time-series and panel data as well as other advanced methods.

18. Developmental Economics

This course will help students understand the underlying theories of development. Apart from learning about the historical progression of growth and development studies this course also encourages creative thinking in terms of analysing the relevance of several of these theories in today's world. The course also introduces empirical research papers to help students get a feel of recent studies that have come out in the field of development economics.

19. Environmental Economics

Economics is often defined as the study of allocation of scarce resources. Environmental Economics then might be somewhat provocatively said to be economics par excellence – the discipline looks primarily at ‘resources’ in the literal sense. A section of environmental thought argues for the conservation of the environment for its inherent intrinsic value, not for its economic uses for humans, which is what the word resource implies. This is an intermediate course in environmental economics and some basic knowledge of microeconomics and mathematics in required.

20. Gender Economics

This course attempts to use economic analysis as a lens to study and explain gender differences in economic outcomes and/or behaviours. It will follow a life-cycle approach. The course will look at society’s general preference for a male child. It will examine gender differences in human capital investments in children and youth and its effects on labour market outcomes such as wages and employment. It will also consider gender based differences in the well-being of elderly. The course will also attempt to discuss the “non-market” outcomes and analyse a number of potential policy responses to the inequalities arising out of gender differences. This course is primarily research based.

21. Behavioural Economics

The objective of the course is to provide a basic introduction to basic concepts in behavioural economics. It is a novel field in Economics which explores cases where traditional economics fails to be replicated in the real world. Learning models in economics are critical to understand the analytical setup of the subject but this course aims to provide some intuition into how real world applications may not sometimes mimic standard textbook models.

22. Quantitative Macro-Finance

This course is intended to provide students with an understanding of the relationship between financial markets and the macro-economy. The first part of the course focuses on theoretically establishes the link between the macro economy and asset prices. This course will study the relationship between financial markets and the macro-economy. Topics include the behaviour of returns of different asset classes over the business cycle, the relationship between returns and inflation, and the implications for expected returns and portfolio choice. The second part of the courses will introduce time series econometric methodologies such as liner time series models (univariate and multivariate), forecasting and volatility models and finally the third part of the course will use these techniques to analyse real life linkages between the macro economy and financial markets

23. Applied Health Economics

This course attempts to use economic analysis as a lens to study and explain gender differences in economic outcomes and/or behaviours. It will follow a life-cycle approach. The course will look at society’s general preference for a male child. It will examine gender differences in human capital investments in children and youth and its effects on labour market outcomes such as wages and employment. It will also consider gender based differences in the well-being of elderly. The course will also attempt to discuss the “non-market” outcomes and analyze a number of potential policy responses to the inequalities arising out of gender differences. This course is primarily research based.

40 ECONOMICS (HONS) COURSES

1. Principles of Economics OR Thinking Like an Economist 15. Mathematics for Economics II 29. Econometrics II
2. Elements of Probability 16. Ordinary Differential Equations 30. Development Economics
3. Introductory Calculus 17. Research Methods 31. Environmental Economics
4. Introduction to Programming 18. Policy Formulation, Implementation and Evaluation 32. Gender Economics
5. Mathematics for Economics I 19. Planning and Policymaking in India 33. Behavioural Economics
6. Microeconomics I 20. Introduction to Geographic Information Systems 34. Quantitative Macro-Finance
7. Macroeconomics I 21. Economics of Industry, Innovation and Strategy 35. Banking and Insurance
8. Indian Economy 22. Econometrics I 36. Applied Health Economics
9. Linear Algebra 23. Public Economics 37. Mathematical Modelling
10. Political Structure and Public Policy 24. International Economics 38. Applied Probability
11. Social Structure, Stratification and Institutions 25. Numerical Methods 39. Advanced Seminar
12. Labour Economics 26. Design and Analysis of Algorithms 40. Honours Thesis
13. Microeconomics II 27. Financial Markets and Institutions  
14. Macroeconomics II 28. Investment Analysis  

 

1. Principles of Economics

The objective of the course is to provide a basic introduction to basic concepts and terminologies in micro and macroeconomics. The course will use examples from day-to-day activities.

Thinking Like an Economist

To explain the inner workings of an economist's brain would seem an impossible and thankless task. The stereotypical economist, after all, is more enamored of theory than reality, unable to reach conclusions and boring beyond all words.
This exciting course is taught in a non-technical way and will provide the students with a sound knowledge of the key principles of Economics. Economics is the issue of our times and influences almost every aspect of our lives. By drawing on real-world applications, students will learn to use the tools of economic analysis to offer an insight into every day events, answer simple and highly complex questions on a range of topics and explain the seemingly inexplicable behavior of individuals, firms and governments.

2. Quantitative Methods for Economics

This course is designed to give undergraduate students a brief overall introduction to mathematics and statistics for economics. It will deal with fundamental concepts required to model, analyse and solve problems arising in the Social Sciences. This course assumes that the student undertaking this course has little to no formal introduction to mathematics and statistics at the higher secondary level. Though this course is primarily designed for economics, it is recommended for students planning to learn or revise their quantitative skills.

3. Introductory Calculus

This course introduces students to the rudiments of calculus and prepares them for study in courses which require calculus based techniques. It focusses primarily on applications and covers the basics of limits, continuity, differentiation and integration of one variable. This course is challenging for those who have done calculus in high-school and yet introduces the basics whose mathematical preparation is less advanced.

4. Introduction to Programming

This is a first course in computer programming for those with little or no previous programming experience. It equips the student with basic tools to efficiently solve problems on the computer. Programming places considerable emphasis on algorithms and requires you to specify every step of the solution process. By doing so, it hones your analytical and logical skills and in the end makes you a better problem solver.

5. Mathematics for Economics I

Mathematical economics is an approach to economic analysis in which economists make use of mathematical techniques in analysing economic models. Mathematical economics refers to the application of mathematics to the purely theoretical aspects of economic analysis. The objective of this course is to introduce students to important mathematical tools widely used in economic literature and help them develop and solve economic models. This acts as a foundation to other field courses at higher levels in the discipline. The course starts with a review of mathematical fundamentals of functions, algebra and the concept of the derivative of a function and limits. The notions of modelling in economics are also covered in the first phases of the course. From there the course goes on to linear models, vectors and matrices. Then students are introduced to the concepts of finding the maximum or minimum of functions and thereafter to the concept of optimization. In optimization, students will first learn the concept of unconstrained maxima and minima and then the concept of constrained maximization or minimization.

6. Microeconomics I

This course on Microeconomics offers a basic introduction to the working of market systems. It aims to provide student participants some basic theories and models and deals with the consumer behaviour and firms, demand and supply of goods, and services and resources in the economy. This will help them to understand how several complex processes in the world functions. It will give them an insight into how humans and firms take decisions and how their decisions in turn affect each other. A good command over Microeconomics is necessary for critically appraising public policy and other economic functions.

7. Macroeconomics I

This course on Microeconomics offers a basic introduction to the working of market systems. It aims to provide student participants some basic theories and models and deals with the consumer behaviour and firms, demand and supply of goods, and services and resources in the economy. This will help them to understand how several complex processes in the world functions. It will give them an insight into how humans and firms take decisions and how their decisions in turn affect each other. A good command over Microeconomics is necessary for critically appraising public policy and other economic functions.

8. Indian Economy

This course familiarizes students with the evolving trends in the Indian Economy. In particular this course introduces the historical backdrop of the Indian economy and guides the students through the progress India has witnessed over the years starting with agricultural development, industrial growth to the rise of the service sector, opening up of the economy and finally infrastructure and human development.

9. Linear Algebra

This course emphasizes matrix and vector calculations and applications. It delves deeply into the theory of Matrices and other algebraic constructs such as Vector spaces, Determinants and Linear Transformations with particular emphasis on understanding the underlying theory and develop the analytical skills to prove theorems.

10. Political Structure and Public Policy

This course is an introduction to political structure and political theory as a tradition of discourse and as a way of thinking about politics. This course has been designed to provide students an introduction to the fundamental concepts in political science and how these impact public policy. It begins with an overview of why we study political theory and what are the approaches and forms of political theory. It then proceeds to elaborate in a detailed manner on the key concepts of ‘Liberty’, ‘Equality’, ‘Justice’, ‘Rights’ and ‘State and Sovereignty’. Each concept is explained through the thoughts and writings of noted theorists who have deliberated in length on that particular issue with emphasis given on readings of original writings. The course surveys selected works of political theory and explores some of the recurring themes and questions that political theory addresses. This course helps students to understand relations of political science and public policy.

11. Social Structure, Stratification and Institutions

This course will engage students in the treatment of social stratification from the perspectives of theory, structure, and process and their variations in societal and cultural contexts. The course focuses on structural units and the study of social stratification, social formation and social interaction and processes involving social stratification. The major forms of social stratification and their relation to economic and political institutions will be examined. The course will concentrate mainly on the structure of social inequality; hierarchies and status structures; class formation; social mobility; processes of ‘social selection’ and status attainment; social stratification and sub-cultural variations etc. Social stratification in relation to social integration, conflict and change, with special reference to industry and politics will be probed.

12. Labour Economics

This course will introduce students to the exciting applied field that is labour economics. The leading idea throughout the course is that economics is an empirical science (not a set of theorems) meant to explain actual behaviour. In addition, the labour market is the playing field for numerous important economic policies and institutions: payroll taxes, minimum wages, collective bargaining, etc. A major task for labour economists is to explain how markets function under these regulations. This course is designed to teach students how to use economic tools and various databases to analyse issues related to labour markets. The course ends with an in-depth analyses of CEO pay trends and trends in the pay gaps.

13. Microeconomics II

This course on Microeconomics continues from ‘Microeconomics I’ and it aims to provide student participants exposure to recent and advanced theories and models of microeconomics. A good command over Microeconomics is necessary for analysing the micro-foundation of the macroeconomic activities and critically appraising public policies and its implications.

14. Macroeconomics II

This course provides in-depth knowledge of some relevant macroeconomic models. The participant will study these core macroeconomic theories in detail. The course aims to improve the understanding the economic behaviour of an economy. The course also provides an analytical approach towards macroeconomic problems.

15. Mathematics for Economics II

This is an advanced level course in mathematical economics. This course will begin by reviewing the basic mathematics for economics concepts. Then it will introduce students to value functions and envelope theorem using different economic applications. The next topic will include introduction to basic integration and dynamic models in economics. It will also introduce students to the concept of inequality constraints. This course will also include review of basic statistical concepts, hypothesis testing and statistical inferences and applications using econometric software, STATA

16. Ordinary Differential Equations

This course aims to introduce students to the basic theory of ordinary differential equations and the modelling of diverse practical phenomena by ordinary differential equations by a variety of examples. Students will learn both quantitative and qualitative methods for solving these equations.

17. Research Methods

This course provides students with an overview of research methodology focusing particularly on the role and process of research in the contemporary public policy context. The role and processes of gathering of evidence both for policy-making and for evaluating the impacts of policy are explored. The course aims to make students aware of the ways in which choices of methodology are closely linked to broader theoretical and conceptual issues and to familiarize them with different research methods. Consideration is given to both quantitative and qualitative approaches to research, although more emphasis is placed on qualitative methods.

18. Policy Formulation, Implementation and Evaluation

This is an introductory course in public policy analysis. It begins with the basics and concisely describes government institutions, identifies principal policy actors, and examines the context in which public policies are made. In this sense, together with internal organizational factors, external factors such as the political, legal, social, and economic environments of public policy making are discussed. The course then provides students with the conceptual frameworks and the analytical models necessary for analyzing the process of public policy making. It discusses the nature of policy analysis and its practice, and illustrates how to employ evaluative criteria in substantive policy areas.
In sum, this course introduces students to the politics of policy making and equips them with the analytic tools necessary to understand how the interests and motivations of policy actors--both within and outside of government--impact an intricate, yet understandable, policy agenda. It exposes students to public policy and policy research and helps them comprehend the processes of policy analysis, program evaluation, and policy recommendation/advocacy.

19. Planning and Policymaking in India

Institutional mechanisms and structures play a critical role in transforming policy rhetoric into policy outcomes. This course introduces the students to the key institutional mechanisms and structures that contribute to realization of policy goals and in turn influence the policies in India. The course will explore Indian political and administrative systems, and discuss the role and contributions of various policy tools and mechanisms employed for Planning and Policy making in India. The varied facets of Indian government and politics are discussed to understand how various political, socio-economic, cultural, infrastructural, technological and global factors determine institutional change and its evolution, and how this has impacted its performance over time. Budgets, Five Year Plans and NITI Aayog are important institutional mechanisms that are central to the implementation of the policy goals. In addition, the structures established through the process of decentralization allow for effective implementation of policies at the local level. In recent times, programmes run in a mission mode have been the channel to translate policies into action. This course will enable the student to critically examine these institutional mechanisms and structures, their characteristics, dynamics and delivery in India.
This course will focus on the different facets of human development: education, health, gender, the family, land relations, risk, informal and formal norms and institutions. While studying each of these topics, it will ask: What determines the decisions of poor households in developing countries? What constraints are they subject to? Is there a scope for policy (by government, international organizations, or NGOs)? What policies have been tried out? Have they been successful?

20. Introduction to Geographic Information Systems

It is said that about 80% of all data has some spatial component. Geographic Information Systems (GIS) is a set of techniques, processes, skills, software and Data, used to view and model the world from a Spatial point of view. This course explores the principles and applications of GIS. It will focus on the fundamentals of the GIS, along with the methods of managing and processing of Spatial data. This course will cover topics such as data models, geographic data input, data manipulation and data storage, spatial analytic and modelling techniques, and error analysis.

21. Economics of Industry, Innovation and Strategy

The course introduces the students to current and traditional theories in Industrial Economics. It examines the internal structure of the firm and analyses its behaviour. It analyses the various aspects of strategic interactions between firms and determines the industrial structure and market conduct. It also discusses the role of policy in the context of competition and industrial policies and regulation. This course also uncovers the linkages between theories of economics and strategic management. Some tools and concepts from microeconomics, innovation and industrial organization are examined in the context of real world business scenarios and their relevance to corporate policy making is critically evaluated.

22. Econometrics I

This course aims to introduce the students to the various econometric techniques as applied to cross-section data. The course begins with discussion of techniques under stringent assumptions. These assumptions are later relaxed, and the problems, tests and corresponding remedial measures are discussed. Some knowledge of statistics is assumed.

23. Public Economics

This course introduces students to the theories in Public Finance, and to understand the potential consequences of policies through these theories. The course also discusses the application of these theories to the Indian economy. The topics covered in this course include: Theory of Social Goods and Role of the State, Public Expenditure, Public Revenue and Taxation, and Public Debt and Fiscal Federalism.

24. International Economics

The focus of this course is to discuss models and issues in international trade theory and policy. It covers the main theories of international trade. It also examines issues and models of international trade policy.

25. Numerical Methods

This course gives an introduction to the basic techniques for solving problems in science and engineering using numerical methods. It provides students with an understanding of the concepts and knowledge of the theory and practical application of numerical methods.

26. Design and Analysis of Algorithms

This course will introduce students to the common data structures and their applications. It introduces the concepts and techniques of structuring and operating on Abstract Data Types in problem solving. It will equip them with a range of approaches and established algorithms for solving common classes of problems. Common sorting and searching algorithms will be discussed, and the complexity and comparisons among these various techniques will be studied. The course takes a practical approach, focusing on coded examples and applications.

27. Financial Markets and Institutions

Financial Markets and Institutions course is expected to provide a comprehensive view of the financial markets and financial Institutions in India, their functioning, and regulatory systems that are in place to ensure smooth running and management of these markets. This course is expected to familiarize the learner with various participants in Financial Markets including Financial Intermediaries and also to some extent various types of financial instruments available for investment, speculation and arbitrage.

28. Investment Analysis

To be updated

29. Econometrics II

This course aims to build upon ‘Econometrics I’ by introducing the students to techniques of analysing time-series and panel data as well as other advanced methods.

30. Developmental Economics

This course will help students understand the underlying theories of development. Apart from learning about the historical progression of growth and development studies this course also encourages creative thinking in terms of analysing the relevance of several of these theories in today's world. The course also introduces empirical research papers to help students get a feel of recent studies that have come out in the field of development economics.

31. Environmental Economics

Economics is often defined as the study of allocation of scarce resources. Environmental Economics then might be somewhat provocatively said to be economics par excellence – the discipline looks primarily at ‘resources’ in the literal sense. A section of environmental thought argues for the conservation of the environment for its inherent intrinsic value, not for its economic uses for humans, which is what the word resource implies. This is an intermediate course in environmental economics and some basic knowledge of microeconomics and mathematics in required.

32. Gender Economics

This course attempts to use economic analysis as a lens to study and explain gender differences in economic outcomes and/or behaviours. It will follow a life-cycle approach. The course will look at society’s general preference for a male child. It will examine gender differences in human capital investments in children and youth and its effects on labour market outcomes such as wages and employment. It will also consider gender based differences in the well-being of elderly. The course will also attempt to discuss the “non-market” outcomes and analyse a number of potential policy responses to the inequalities arising out of gender differences. This course is primarily research based.

33. Behavioural Economics

The objective of the course is to provide a basic introduction to basic concepts in behavioural economics. It is a novel field in Economics which explores cases where traditional economics fails to be replicated in the real world. Learning models in economics are critical to understand the analytical setup of the subject but this course aims to provide some intuition into how real world applications may not sometimes mimic standard textbook models.

34. Quantitative Macro-Finance

This course is intended to provide students with an understanding of the relationship between financial markets and the macro-economy. The first part of the course focuses on theoretically establishes the link between the macro economy and asset prices. This course will study the relationship between financial markets and the macro-economy. Topics include the behaviour of returns of different asset classes over the business cycle, the relationship between returns and inflation, and the implications for expected returns and portfolio choice. The second part of the courses will introduce time series econometric methodologies such as liner time series models (univariate and multivariate), forecasting and volatility models and finally the third part of the course will use these techniques to analyse real life linkages between the macro economy and financial markets

35. Banking and Insurance

To be updated

36. Applied Health Economics

This course attempts to use economic analysis as a lens to study and explain gender differences in economic outcomes and/or behaviours. It will follow a life-cycle approach. The course will look at society’s general preference for a male child. It will examine gender differences in human capital investments in children and youth and its effects on labour market outcomes such as wages and employment. It will also consider gender based differences in the well-being of elderly. The course will also attempt to discuss the “non-market” outcomes and analyze a number of potential policy responses to the inequalities arising out of gender differences. This course is primarily research based.

37. Mathematical Modelling

This course equips the student with some of the methods and techniques of modelling continuous systems. It builds on knowledge gained through previous courses on Calculus and introduces new techniques for analysing and solving problems that arise in the application of mathematics in various disciplines.

38. Applied Probability

This course introduces probabilistic distributions and stochastic processes. It builds on knowledge acquired from elementary courses in probability and equips them to understand and apply advanced concepts to relatively more complex problems arising in diverse fields where uncertainty is a decisive factor.

39. Advanced Seminar

To be updated

40. Honours Thesis

To be updated