Syllabus for

Academic Year  (2024)

Course Description:

This course initiates discussion on some of the key issues of the Indian economy. It provides an overview of the planning process and the macroeconomic challenges and policy management in India with special reference to Karnataka. The course exposes the students to the data on various economic aspects and policies in India and Karnataka as well.

Course Objectives:

The course aims to:

1. Provide an overall understanding of the structural changes of the Indian economy.
2. Introduce theories relevant to understand the concepts of Indian economy.
3. Facilitate students to understand economic issues relevant to economic growth and development of Karnataka.

Structure of Indian Economy - 1950-80: Mahalanobis Model, Planning Commission, Green Revolution, import-substitution, taxation and the black economy, Major changes in the policy stance, State-Market relationship; Policy changes in the 1980s; Was 1990 a structural break? Indian Economy at the threshold of the 21st century; India and the subprime crisis.

Structure of Indian Economy - 1950-80: Mahalanobis Model, Planning Commission, Green Revolution, import-substitution, taxation and the black economy, Major changes in the policy stance, State-Market relationship; Policy changes in the 1980s; Was 1990 a structural break? Indian Economy at the threshold of the 21st century; India and the subprime crisis.

Demographic trends: Population growth and size of population, aspects related to birth rate and death rate, composition and density of population, demographic transition and issues; Education: Literacy rates, enrollment rates; Primary, secondary and higher education; Technical education and skill gaps; Health and malnutrition: Trends, issues and programs

Demographic trends: Population growth and size of population, aspects related to birth rate and death rate, composition and density of population, demographic transition and issues; Education: Literacy rates, enrollment rates; Primary, secondary and higher education; Technical education and skill gaps; Health and malnutrition: Trends, issues and programs

Trends and policies in poverty: Debate on poverty line; Inequality and unemployment trends; Employment generation programs and issues.

Trends and policies in poverty: Debate on poverty line; Inequality and unemployment trends; Employment generation programs and issues.

Changing role of RBI; Banks, NBFCs and Financial Institutions: their role, and regulation; Rural Banking; Financial Inclusion; Capital Markets.

Changing role of RBI; Banks, NBFCs and Financial Institutions: their role, and regulation; Rural Banking; Financial Inclusion; Capital Markets.

Trends and growth pattern of SGDP and human development in Karnataka; Comparison with other Indian states; Problems and prospects of different sectors; State Planning process; Planning objectives and strategies, decentralized planning, intrastate disparities; education, health and housing; evaluation of recent development programs.

Trends and growth pattern of SGDP and human development in Karnataka; Comparison with other Indian states; Problems and prospects of different sectors; State Planning process; Planning objectives and strategies, decentralized planning, intrastate disparities; education, health and housing; evaluation of recent development programs.

Overview of India’s Foreign Trade and Investments; Foreign Trade Policy – pre- and post-1990s; Make in India; India and the WTO; Exchange rate management; Evolution of FDI and FPI policy.

Overview of India’s Foreign Trade and Investments; Foreign Trade Policy – pre- and post-1990s; Make in India; India and the WTO; Exchange rate management; Evolution of FDI and FPI policy.

Iteshamul, H. (2015). A Handbook of Karnataka. Bangalore: Government of Karnataka.

Kapila, U. (2016). Indian Economy – Performance and Policies (17th ed.). New Delhi: Academic Foundation.

Misra, S. K., & Puri, V. K. (2011). Indian economy (34th ed.). Delhi: Himalaya Publishing House.

Balakrishnan, P. (2007). The recovery of India: Economic growth in the Nehru Era. Economic and Political Weekly, 42 (45-46), 52-66.

Baru, R., Acharya, A., Acharya, S., Kumar, A. S., & Nagaraj, K. (2010). Inequities in access to health services in India: caste, class and region. Economic and Political Weekly, 45 (38), 49-58.

Basu, K. (2009). China and India: idiosyncratic paths to high growth. Economic and Political Weekly, 44 (38), 43-56.

Deaton, A., & Drèze, J. (2009). Food and Nutrition in India: Facts and Interpretations. Economic and political weekly, 44 (07), 42-65.

Drèze, J., & Sen, A. (2013). An Uncertain Glory: India and its Contradictions. NJ: Princeton University Press.

Dyson, T. (2013). Population and Development: The Demographic Transition. New York: Zed Books Ltd.

Economic Survey of Karnataka 2016-17. Government of Karnataka.

Himanshu, R., & Sen, A. (2010). Towards New Poverty Lines for India. Economic & Political Weekly, 45 (1), 2-8.

Himanshu. (2011). Employment Trends in India: A Re-examination. Economic and Political Weekly, 46 (37), 43-59.

James, K. S. (2008). Glorifying Malthus: Current debate on demographic dividend in India. Economic and Political Weekly, 43 (25), 63-69.

Kapila, U. (Ed.). (2009). Indian Economy since Independence.  New Delhi: Academic Foundation.

Meti, T. K. (1976). The Economy of Karnataka: An Analysis of Development and Planning. New Delhi: Oxford & IBH Publishing Company.

Mohan, R. (2008). Growth record of the Indian economy, 1950-2008: A story of sustained savings and investment. Economic and Political Weekly, 43 (19), 61-71.

Narayana, M. R. (2004). An Overview of the Karnataka Economy'. Chapter One in Karnataka Development Report, Karnataka: Institute for Social and Economic Change

Shetty, S. L. (2007). India’s Savings Performance since the Advent of Planning. Institutions and Markets in India’s Development: Essays for K. N Raj, New Delhi: Oxford University Press.

Somasekhara, N. (1978). Planning and Development in Karnataka: Targets, Allocations, and Perspectives. Mysore: Geetha Book House.

Vaidyanathan, A., & Krishna, K. L. (Eds.). (2007). Institutions and Markets in India's Development: Essays for KN Raj. Oxford. New Delhi: Oxford University Press.

* Mid Semester Exam ** End Semester Exam

Course Description:

The course provides a strong foundation in the various theories of international economics.  It also enables the understanding of the trade policies and practices adopted in various countries as well as the impact of the same. The course exposes the students to the forms of economic integration in theory and practice.  The module on the structure of the balance of payments and foreign exchange markets gives an in-depth understanding of the same and the issues therein. The course concludes with a detailed discussion on the international monetary system and the economic crises in recent times. 

Course Objectives:

The course aims to:

1. introduce the different theories pertaining to international trade.
2. enhance the understanding of trade policies and practices adopted globally.
3. provide a theoretical and practical understanding of the forms and effects of economic integration. 
4. comprehend the interlinkages between the balance of payment, foreign exchange markets, financial liberalisation and economic crises. 

The Subject Matter of International Economics; Trade Based on Absolute Advantage; Trade Based on Comparative Advantage; Misconceptions about comparative advantage; Comparative advantage in practice.

The Subject Matter of International Economics; Trade Based on Absolute Advantage; Trade Based on Comparative Advantage; Misconceptions about comparative advantage; Comparative advantage in practice.

The Basis for and the Gains from Trade with Increasing Costs; Trade Based on Differences in Tastes; The Equilibrium Relative Commodity Price with Trade; Partial Equilibrium Analysis & General Equilibrium Analysis; Terms of trade.

The Basis for and the Gains from Trade with Increasing Costs; Trade Based on Differences in Tastes; The Equilibrium Relative Commodity Price with Trade; Partial Equilibrium Analysis & General Equilibrium Analysis; Terms of trade.

Heckscher-Ohlin Theory; Factor-Price Equalization, Effect of Trade on Income Distribution; The Leontief Paradox; Empirical relevance of the H-O theory in the current period; Economies of Scale and International Trade; Imperfect Competition and International Trade-Intra industry trade; Technological gap and Product Cycle models.

Heckscher-Ohlin Theory; Factor-Price Equalization, Effect of Trade on Income Distribution; The Leontief Paradox; Empirical relevance of the H-O theory in the current period; Economies of Scale and International Trade; Imperfect Competition and International Trade-Intra industry trade; Technological gap and Product Cycle models.

Partial Equilibrium Analysis of a Tariff; General Equilibrium Analysis of a Tariff in a Small Country; Import Quotas; Other Non-tariff Barriers; Neo- Protectionism

Partial Equilibrium Analysis of a Tariff; General Equilibrium Analysis of a Tariff in a Small Country; Import Quotas; Other Non-tariff Barriers; Neo- Protectionism

Meaning of Economic Integration, Trade-Creating Customs Unions; Trade-Diverting Customs Unions; The Theory of the Second Best and Other Static Welfare Effects of Customs Unions; ASEAN, SAARC; Multilateralism; WTO; New outlook towards a global trading system.

Meaning of Economic Integration, Trade-Creating Customs Unions; Trade-Diverting Customs Unions; The Theory of the Second Best and Other Static Welfare Effects of Customs Unions; ASEAN, SAARC; Multilateralism; WTO; New outlook towards a global trading system.

Balance of Payments: Principles; Disequilibrium in BOP, BOP Crisis in India in 1991 Functions of the Foreign Exchange Markets; Foreign Exchange Rates; Purchasing Power Parity Theory; Stable and Unstable Foreign Exchange Markets. Rupee Convertibility.

Balance of Payments: Principles; Disequilibrium in BOP, BOP Crisis in India in 1991 Functions of the Foreign Exchange Markets; Foreign Exchange Rates; Purchasing Power Parity Theory; Stable and Unstable Foreign Exchange Markets. Rupee Convertibility.

The Evolution of the Bretton Woods System; The IMF; Policy Coordination with Floating Exchange Rates; The Single Currency and Economic Integration; The European Monetary Union.

The Evolution of the Bretton Woods System; The IMF; Policy Coordination with Floating Exchange Rates; The Single Currency and Economic Integration; The European Monetary Union.

Financial liberalisation, capital movements and economic crises. Sustainable trade; Issues in emerging markets, international trade and ethics.

Financial liberalisation, capital movements and economic crises. Sustainable trade; Issues in emerging markets, international trade and ethics.

Salvatore, D. (2016). International Economics: Trade and Finance. (12th ed.). Oxford: John Wiley International Student Edition. 

Bowen, H., Hollander A. &Viaene J. (2012). Applied International Trade Analysis. London: Macmillan Publication. 

Dornbusch, R. (1980). Open Economy Macroeconomics (International Students Edition).  New York: Basic Books. 

 Kapila, U. (2018). Indian Economy: Performance and Policies. (17th ed.). New Delhi: Academic Foundation.

Krugman, P., Obstfeld, M. & Melitz,M. (2012). International Economics: Theory and Policy. (9th  ed.). New Delhi: Pearson Education.

Lobo, R. (2003). Southeast Asian Crisis: An Economic Analysis. New Delhi:  Serials Publication.

Mankiw, G. N. (2012). Principles of Macroeconomics. (6th ed.). New Delhi: Cengage Learning India.

Marrewijk, C.V. (2007). International Economics: Theory, Application and Policy. Oxford: Oxford University Press.

McGee, R. (2016). Ethics in International Trade.

Mihalcea, A. D., & Anghel, l. C. Romanian Capital Market: On the Road Toward an Emergent Market Status. Challenging the Status Quo in Management and Economics, 168.

Reddy, Y.V. (2011). Global Crisis, Recession and Uneven Recovery. Hyderabad: Orient BlackSwan.

Stiglitz, J. (2016). The Euro and its Threat to the Future of Europe. London: Penguin.

Course Description:

The course introduces students to the conceptual and practical operations of the financial markets, institutions and instruments network in Indian context.  The course gives a brief understanding of the topics of financial regulations, equity market, stock evaluation, stock returns and derivative market including hedging and arbitrage

Course Objectives:

To train students to:

1. perceive the significance of finance by understanding the operational issues of capital and money markets.
2. analyse the economic conditions of India, before and after liberalization policies were introduced and how it contributed to several financial sector reforms. 
3. comprehend the role of capital markets, their operations, stock valuations and stock risk-return analysis. 
   

Role of financial intermediation - Financial markets - Money vs. capital markets - Primary vs. secondary markets - Instruments in the money market - Instruments in the capital markets -  Financial institutions; Banking and credit.

Role of financial intermediation - Financial markets - Money vs. capital markets - Primary vs. secondary markets - Instruments in the money market - Instruments in the capital markets -  Financial institutions; Banking and credit.

Money Market regulations – Banking sector reforms – quarterly credit policy of RBI - Capital market regulations of SEBI- Legal issues in security trading - FERA & FEMA - Capital account convertibility; International regulatory framework.

Money Market regulations – Banking sector reforms – quarterly credit policy of RBI - Capital market regulations of SEBI- Legal issues in security trading - FERA & FEMA - Capital account convertibility; International regulatory framework.

IPO and Book building process - Private vs. Public placement – Stock market indexes - Stock quotations – understanding secondary market operations.

IPO and Book building process - Private vs. Public placement – Stock market indexes - Stock quotations – understanding secondary market operations.

Stock evaluation methods -    Fundamental vs. Technical analysis - Factors affecting stock prices - Economic factors - Market related factors - Firm specific factors - Indicators of future stock prices - Efficient Market Hypothesis -    Capital Asset Pricing Model (CAPM).

Stock evaluation methods -    Fundamental vs. Technical analysis - Factors affecting stock prices - Economic factors - Market related factors - Firm specific factors - Indicators of future stock prices - Efficient Market Hypothesis -    Capital Asset Pricing Model (CAPM).

Measures of risk - Risk and return framework and investment decisions - Methods of determining maximum expected loss – Estimating beta of the stock.

Measures of risk - Risk and return framework and investment decisions - Methods of determining maximum expected loss – Estimating beta of the stock.

Financial future market: Markowitz model - Valuation of financial futures - Option market - Speculation with option market – Hedging - Arbitrage and foreign exchange futures market.

Financial future market: Markowitz model - Valuation of financial futures - Option market - Speculation with option market – Hedging - Arbitrage and foreign exchange futures market.

Bharti, P. (2018). Indian Financial System, 5/e. Pearson Education India.

Madura, Jeff. (2015). Financial Institutions and Markets (11th ed.), Cengage Learning, USA.

Bailey, R. E. (2005). The economics of financial markets. Cambridge University Press.

Copeland, T. E., Weston, J. F., & Shastri, K. (2005). Financial theory and corporate policy. (4thed.), Pearson.

Farrell, J. L., & Reinhart, W. J. (1997). Portfolio management: theory and application. McGraw-Hill.

Fisher, E. Donald., & Jordan, J. Roland. (1995). Security Analysis and Portfolio management (6th ed.), Pearson India.

Hearth, D., & Zaima, J. K. (2001). Contemporary investments: security and portfolio analysis. Harcourt College Publ.

Hull, J. C., (2016). Futures, Options and other Derivatives (9thed.), Pearson.

Khan, M. Y. (2013). Indian financial system. Tata McGraw-Hill Education.

L. M. Bhole., & J. Mahakud.(2009). Financial Institutions and Markets (5thed.), McGraw-Hill.

Course Description

Introductory course on the basic principles of agricultural economics. Production economics, principles of supply and demand, resource economics, world food situation, marketing of agricultural products, and agricultural public policy.

Course Objectives

The course aims to help students to:

1. Explain the nature and scope of Agricultural Economics, and its role in economic development;
2. Discuss land tenure systems, along with the reforms in land management;
3. Discuss the evolution of agricultural growth and practices in India in accordance with the five year plans;
4. Analyse the Agricultural Prices and Rural Labor Market;
5. Outline the role of WTO in Indian Agriculture.

Nature and Scope of Agricultural Economics; Traditional agriculture and its modernisation; Role of agriculture in economic development; Interdependence between agriculture and industry - empirical evidence; Principles of land utilization; Land distribution- structure and trends; Land values and rent; Land tenures and farming systems- Peasant, capitalist, collective, state and co - operative farming; Tenancy and crop sharing- Forms, incidence and effects; Land reform measures and performance; Problems of marginal and small farmers.

Nature and Scope of Agricultural Economics; Traditional agriculture and its modernisation; Role of agriculture in economic development; Interdependence between agriculture and industry - empirical evidence; Principles of land utilization; Land distribution- structure and trends; Land values and rent; Land tenures and farming systems- Peasant, capitalist, collective, state and co - operative farming; Tenancy and crop sharing- Forms, incidence and effects; Land reform measures and performance; Problems of marginal and small farmers.

Agricultural situation during five year plan periods; Role of Public Investment and Capital Formation in Indian Agriculture; Recent trends in agricultural growth in India; Inter regional variations in growth of output and productivity; Cropping pattern shifts; Strategy of agricultural development : Supply of inputs- Irrigation, power, seed and fertilizers and role of technology – Green Revolution; Sustainable agriculture: concepts and constraints, indigenous practices; Bio - technological practices; Organic Farming – Case Study; Role of allied activities in Agriculture: Livestock management-Dairy farming.

Agricultural situation during five year plan periods; Role of Public Investment and Capital Formation in Indian Agriculture; Recent trends in agricultural growth in India; Inter regional variations in growth of output and productivity; Cropping pattern shifts; Strategy of agricultural development : Supply of inputs- Irrigation, power, seed and fertilizers and role of technology – Green Revolution; Sustainable agriculture: concepts and constraints, indigenous practices; Bio - technological practices; Organic Farming – Case Study; Role of allied activities in Agriculture: Livestock management-Dairy farming.

Production function analysis in agriculture – factor combination and resource substitution, cost and supply curves; Size of farm and laws of returns – theoretical and empirical findings.  Characteristics of demand for farm products – Concept and measurement of o wn-price, cross- price and income elasticities of demand and their interrelationship in agricultural sector; Issues relating to specification of supply response function (distributed lags, acreage vs. production response etc.); Quantity and quality components of demand for food; Characteristics of supply of farm products.

Production function analysis in agriculture – factor combination and resource substitution, cost and supply curves; Size of farm and laws of returns – theoretical and empirical findings.  Characteristics of demand for farm products – Concept and measurement of o wn-price, cross- price and income elasticities of demand and their interrelationship in agricultural sector; Issues relating to specification of supply response function (distributed lags, acreage vs. production response etc.); Quantity and quality components of demand for food; Characteristics of supply of farm products.

Marketing and state policy; Agricultural markets and marketing efficiency- marketing functions and costs; Market structure and imperfection; Regulated markets; Marketed and marketable surplus; Need for state intervention: State policy with respect to agricultural marketing, Warehousing, Prices, Taxation and crop insurance; Behaviour of agricultural prices: Cobweb model, Price and income stability, Objectives of agricultural price policy- Instruments and evaluation; Food security in India and public distribution system; Interlocking of factor markets; Mobility of labour and segmentation in labour markets; Agricultural employment- Trends and determinants

Marketing and state policy; Agricultural markets and marketing efficiency- marketing functions and costs; Market structure and imperfection; Regulated markets; Marketed and marketable surplus; Need for state intervention: State policy with respect to agricultural marketing, Warehousing, Prices, Taxation and crop insurance; Behaviour of agricultural prices: Cobweb model, Price and income stability, Objectives of agricultural price policy- Instruments and evaluation; Food security in India and public distribution system; Interlocking of factor markets; Mobility of labour and segmentation in labour markets; Agricultural employment- Trends and determinants

Terms of trade between agricultural and non-agricultural sectors; WTO and Indian agriculture- Advantages and disadvantages in relation to Indian Agriculture; Agricultural Subsidies in India: importance, issues and challenges; patents.

Terms of trade between agricultural and non-agricultural sectors; WTO and Indian agriculture- Advantages and disadvantages in relation to Indian Agriculture; Agricultural Subsidies in India: importance, issues and challenges; patents.

Colman, D., & Young, T. (1989). Principles of Agricultural Economics: Markets and Prices in Less Developed Countries. Cambridge: Cambridge University Press.

Government of India. (2017). State of Indian Agriculture 2015-16. New Delhi. Retrieved from http://eands.dacnet.nic.in/PDF/State_of_Indian_Agriculture,2015-16.pdf

This course provides a comprehensive introduction to some of the advanced econometric concepts and techniques. The course begins with an introduction to lag modelling and covers distributed as well as dynamic models. Then the students will be introduced to the world of Simultaneous Equation Models and deals in depth with the issue of simultaneity and its solutions. The students will then be introduced to the analysis of two major types of data used in econometric analysis viz. time series and panel data. The course also covers different approaches to econometric forecasting. Some of the important testing procedures such as Granger Causality, Unit root tests, Seasonality tests, Structural break test, Cointegration test and Model stability tests will be introduced to the students during this course. The modules will be delivered using econometric software applications such as EViews, Gretl or STATA.

Course Objectives:

The course aims at providing students with:

1. a comprehensive introduction to some of the advanced econometric concepts and techniques.
2. the ability to apply advanced econometric techniques in the investigation of complex economic relationships using time series and panel data.
   
3. the skills to make economic forecasting.
   
4. hands-on training in econometrics packages such as EViews, Gretl or STATA.

Lags in Econometric Models; Distributed Lag Model; Autoregressive Lag Model; Reasons for Lags; Estimation of Distributed-Lag Model, The Koyck Approach to Distributed-Lag Model; Rationalisation of Koyck Model: The Adaptive Expectations Model, Partial Adjustment Model; Estimation of Autoregressive Models; The Method of Instrument Variable; Causality in Economics: The Granger Causality Test.

Lags in Econometric Models; Distributed Lag Model; Autoregressive Lag Model; Reasons for Lags; Estimation of Distributed-Lag Model, The Koyck Approach to Distributed-Lag Model; Rationalisation of Koyck Model: The Adaptive Expectations Model, Partial Adjustment Model; Estimation of Autoregressive Models; The Method of Instrument Variable; Causality in Economics: The Granger Causality Test.

Nature of Simultaneous-Equations Models; Simultaneous Equation Bias; Structural Models; Reduced Form Models; Identification Problem; Rules of Identification; Tests for Simultaneity and Exogeneity; Method of Indirect Least Squares; Method of Two-Stage Least Squares.

Nature of Simultaneous-Equations Models; Simultaneous Equation Bias; Structural Models; Reduced Form Models; Identification Problem; Rules of Identification; Tests for Simultaneity and Exogeneity; Method of Indirect Least Squares; Method of Two-Stage Least Squares.

Introduction to Time Series; Stationary and Non-Stationary Time Series; Spurious Regression; Unit Root Tests: Dickey-Fuller and Augmented Dickey-Fuller Tests; Transforming Nonstationary Time Series; Cointegration: Testing for Cointegration, Error Correction Mechanism.

Introduction to Time Series; Stationary and Non-Stationary Time Series; Spurious Regression; Unit Root Tests: Dickey-Fuller and Augmented Dickey-Fuller Tests; Transforming Nonstationary Time Series; Cointegration: Testing for Cointegration, Error Correction Mechanism.

Approaches to Economic Forecasting; ARIMA Models; The Box-Jenkins Methodology; Vector Autoregression; Forecasting with VAR; Testing Causality using VAR.

Approaches to Economic Forecasting; ARIMA Models; The Box-Jenkins Methodology; Vector Autoregression; Forecasting with VAR; Testing Causality using VAR.

Introduction to Panel Data; Constant Coefficient Model; Fixed Effect LSDV Model; Fixed Effect WG Model; Random Effects Model, Properties of Estimators.

Introduction to Panel Data; Constant Coefficient Model; Fixed Effect LSDV Model; Fixed Effect WG Model; Random Effects Model, Properties of Estimators.

Gujarati, D. N., Porter, D.C., & Gunasekar, S. (2017). Basic Econometrics (5th ed.). McGraw Hill.

Studenmund, A. H. (2016).  Using Econometrics: A Practical  Guide. (7 th  ed.). New Delhi: Pearson 

Greene, W. H. (2000). Econometric Analysis (4th ed.). Prentice Hall.

Hamilton, J. D. (1994). Time Series Analysis. Princeton University Press.

Koutsoyiannis, A. (1973). Theory of Econometrics, Harper & Row.

Patterson, K. (2000). An Introduction to Applied Econometrics: A Time Series Approach. Palgrave.

Pindyck, R. S., & Rubinfeld, D. L. (1990). Econometric Models and Econometric Forecasts (4th ed.).McGraw-Hill.

Wooldridge, J. M. (2002).  Econometric Analysis of  Cross Section and Panel Data Massachusetts: MIT Press. 

This course should be accessible to anyone with an analytical mind and familiarity with basic concepts of economics. Since several environmental problems are caused by economic activity, for instance, carbon emissions, over-harvesting of renewable resources and air and water pollution as a by-product of industrial activity, this course examines different approaches to adjusting behaviour through economic institutions such as markets and incentives as well as through regulation, etc. It also addresses the economic implications of environmental policies through practical applications of methods for valuation of environmental goods and services and quantification of environmental damages. Conversely, the impact of economic growth on the environment is also addressed under the rubric of sustainable development. Environmental problems and issues from the Indian and international context (especially global warming) are used to illustrate the concepts and methods presented in the course.

Course Objectives:

• To introduce the students to concepts, methods and policy options in managing the environment using tools of economic analysis.
• To enable the students to understand the economic implications of environmental policies and environmental issues
• To understand the concepts of environmental valuation, methods and its applications,
• To provide an understanding of sustainable development measures in tackling the environmental issues.

Introduction to environmental economics; Definition, Nature and Scope; Nexus between environment and economy; Key environmental issues and problems, Material balance principle, Renewable and non-renewable energy sources, Tragedy of commons, common pooled resources, Hotelling’s rule; Pareto optimality and market failure in the presence of externalities.

Introduction to environmental economics; Definition, Nature and Scope; Nexus between environment and economy; Key environmental issues and problems, Material balance principle, Renewable and non-renewable energy sources, Tragedy of commons, common pooled resources, Hotelling’s rule; Pareto optimality and market failure in the presence of externalities.

Overview, Pigouvian taxes and effluent fees, tradable permits; Liability Rules; Pollution Control Boards; Legislative measures of environmental protection in India; Implementation of  environmental policies in India and international experience; Transboundary environmental problems; Economics of climate change.

Overview, Pigouvian taxes and effluent fees, tradable permits; Liability Rules; Pollution Control Boards; Legislative measures of environmental protection in India; Implementation of  environmental policies in India and international experience; Transboundary environmental problems; Economics of climate change.

Concepts of environmental value; Total economic value; Valuation of non-market goods and services-theory and practice; measurement methods; Revealed preference methods – travel cost, hedonic pricing; Stated preference methods – Contingent valuation, choice experiment; Costbenefit analysis of environmental policies and regulations.

Concepts of environmental value; Total economic value; Valuation of non-market goods and services-theory and practice; measurement methods; Revealed preference methods – travel cost, hedonic pricing; Stated preference methods – Contingent valuation, choice experiment; Costbenefit analysis of environmental policies and regulations.

Concepts; Measurement; Rules for sustainable development, Indicators of sustainable development; Perspectives from Indian experience; Ecosystem services and human well-being; Trade-off between environmental protection and economic growth; Environmental Kuznets’ curve.

Concepts; Measurement; Rules for sustainable development, Indicators of sustainable development; Perspectives from Indian experience; Ecosystem services and human well-being; Trade-off between environmental protection and economic growth; Environmental Kuznets’ curve.

 MSE*: Mid-Semester Examination, ESE**: End-Semester Examination

This course exposes students to the theory and analytical understanding of the industrial sector of the economy. This course provides an introduction to the fundamental concepts, nature and scope of industrial economics followed by market concentration analysis.  It also discusses productivity studies with reference to the Indian industries and the impact of government policies on the Indian industries since independence.

Course Objective:

The course aims to help students to:

1. examine industrial models and their links in practice, with a special accent on government policy. 
2. understand various industrial productivity concepts and methods of measurement. 
3. provide insight and exposure to industrial development in India.

Nature and scope of Industrial Economics; Concepts in Industrial Economics; industry, market, market structure, market conduct and Market Power; Organisational Structure of a Firm; Objectives of firms; Theories of the firm: Behavioural theory; The transaction cost theory; Resources based theory of the firm.

Nature and scope of Industrial Economics; Concepts in Industrial Economics; industry, market, market structure, market conduct and Market Power; Organisational Structure of a Firm; Objectives of firms; Theories of the firm: Behavioural theory; The transaction cost theory; Resources based theory of the firm.

An overview of standard forms of market structure: Concept of Workable Competition; Definition of market concentration; Concentration indices; Market power measures; Concentration and market performance; Vertical integration: Types of vertical integration; Incentives to vertical integration; Effects of vertical integration for the economy; Merger: types; Motives for merger and implication for public policies.

An overview of standard forms of market structure: Concept of Workable Competition; Definition of market concentration; Concentration indices; Market power measures; Concentration and market performance; Vertical integration: Types of vertical integration; Incentives to vertical integration; Effects of vertical integration for the economy; Merger: types; Motives for merger and implication for public policies.

Need of finance; Types of finance; sources of finance; Choice of funding; Development Banking: IDBI, IFCI and SFCs; Factors Influencing the Location of Industries; Theories of Industrial Location: Weber, Sargent Florence; Industrial location trends in India.

Need of finance; Types of finance; sources of finance; Choice of funding; Development Banking: IDBI, IFCI and SFCs; Factors Influencing the Location of Industries; Theories of Industrial Location: Weber, Sargent Florence; Industrial location trends in India.

Concept and measurement of productivity; Empirical evidence of productivity in Indian industries; Industrial sickness; Under-utilization of capacity; factors accounting for it and consequences.

Concept and measurement of productivity; Empirical evidence of productivity in Indian industries; Industrial sickness; Under-utilization of capacity; factors accounting for it and consequences.

Industrial structure at the time of Independence; Globalization and its impacts on industries; Recent trends in Industrial growth and diversification; International competitiveness of Indian industry; Privatization and issues relating to disinvestment policy; Need for or government intervention in the industry; Industrial regulations in India.

Industrial structure at the time of Independence; Globalization and its impacts on industries; Recent trends in Industrial growth and diversification; International competitiveness of Indian industry; Privatization and issues relating to disinvestment policy; Need for or government intervention in the industry; Industrial regulations in India.

Cable, J. R. (1994). Current Issues in Industrial Economics. London: Macmillan.

Ferguson, P. R., & Ferguson, G. (1994). Industrial Economics: Issues and Perspectives. New York: NYU Press.

Hay, D. A., & Morris, D. J. (1991). Industrial Economics and Organization: Theory and Evidence. Oxford: Oxford University Press.

Howe, W. S. (1978). Industrial Economics: An Applied Approach. London: Macmillan.

Martin, S. (1994). Industrial Economics: Economic Analysis and Public Policy. New Jersey: Prentice Hall.

Narayan, B. N. (1997). Industrial Economics: A Special Study for Students of MBA, M. Com., and MA. Bengaluru: Anmol Publications.

Phlips, L. (Ed.). (1998). Applied Industrial Economics. Cambridge: Cambridge    University Press.

Course Description:

One of the requirements for the completion of the BA Economics Honours programmes at CHRIST (Deemed to be University) is to conduct original research work under the guidance of a faculty member and submit it in the form of a research dissertation. Having undergone extensive training in Mathematical Economics, Statistical Methods, Research Methods and Econometrics, this course enables students to demonstrate an understanding of how to apply their theoretical knowledge to practice by investigating and carefully evaluating real-time economic issue(s).

This paper is intended to guide students through the formative work of working towards their dissertation.

Course Objectives:

The course aims to:

1. orient students to new fields of research in economics.
2. inculcate in students the rigour of research work.
3. imbibe in students the spirit of inquiry.
4. train students to do an academic reading of journal articles
5. train the students in the application of different research tools in social science.

The dissertation work is carried out under the guidance of a faculty with scheduled meetings for discussion of the progress of the work and timely interim presentations before a panel of faculty to assess the quality of the work. The final submission of the dissertation in the even semester is followed by a viva voce on the research topic.

The dissertation work is carried out under the guidance of a faculty with scheduled meetings for discussion of the progress of the work and timely interim presentations before a panel of faculty to assess the quality of the work. The final submission of the dissertation in the even semester is followed by a viva voce on the research topic.

Course Description:

This course enables students to apply theoretical knowledge acquired in their first four semesters to practical applications.  Hence, the students are expected to complete a short internship during the summer break after the fourth semester as part of the course curriculum.   Having undergone extensive understanding/training in Economic theories, Mathematical Methods, Statistics, Econometrics and Research Methods, this course enables students to demonstrate an understanding of how to apply theoretical knowledge to practice in different organizations/institutions of their choice.  The minimum duration of the internship is stipulated as four weeks.  It is evaluated based on set criteria out of 50 marks and has a maximum of two (2) credits.

Course Objectives:

The course aims to help students to:

1.    apply theoretical knowledge to practical, real-life problems.

2.    analyse data/information through a scientific method.

3.    apply the acquired skills in practical application(s) and gain industry experience.

The students are expected to identify and communicate to the organization/ institution where they want to pursue their internship, and the same should be communicated to the Department of Economics and approved before the internship commences.  As a requirement, the students must submit a letter confirming their internship from the interning organization/ institution.  After completing the internship, the students should submit a final Internship Report, internship diary, and completion certificate for evaluation at the Department level.  Failing to submit the internship completion certificate will result in the status of the internship as "Incomplete". 

The students are expected to identify and communicate to the organization/ institution where they want to pursue their internship, and the same should be communicated to the Department of Economics and approved before the internship commences.  As a requirement, the students must submit a letter confirming their internship from the interning organization/ institution.  After completing the internship, the students should submit a final Internship Report, internship diary, and completion certificate for evaluation at the Department level.  Failing to submit the internship completion certificate will result in the status of the internship as "Incomplete". 

Course Description :

The primary objective of this course is to familiarize the database management and various discipline specific software packages to the students and help them to analyse the basic statistical methods for data analysis. The theme identified for the fifth and sixth semester is Data management and Technical Knowledge. 

Course Objective :

The course aims to:

• Develop discipline specific skills for professional and personal growth.
• Provide a platform to nurture and hone skills necessary for professional development

Students must choose MOOC courses offered by various online platforms in the specific themes given for the Fifth and sixth semesters. This consists of various discipline software packages, SPSS, Excel, R, Adobe, Python, Tableau, Nvivo etc.

Students must choose MOOC courses offered by various online platforms in the specific themes given for the Fifth and sixth semesters. This consists of various discipline software packages, SPSS, Excel, R, Adobe, Python, Tableau, Nvivo etc.

Course Description:

The paper deals with the nature of government intervention and its implications for allocation, distribution and stabilization. Inherently, this study involves a formal analysis of government taxation, expenditures, deficit and public debt management. This paper combines a thorough understanding of fiscal institutions with a careful analysis of the issues which underline budgetary policies in general and Indian experience in particular.

Course Objectives:

The objectives of the course are to:

1. understand the role and functions of government in an organised society;
2. provide the students with an in-depth understanding of public revenue, public expenditure and public debt management;
3. provide the students with an understanding on budget and fiscal federalism with a practical experience in Indian context.

The nature, scope and significance of public economics - Public vs Private Finance - Principle of Maximum Social advantage: Approaches and Limitations (Dalton and Hicks) - Functions of Government (a). Economic functions- allocation, distribution and stabilization (b) Regulatory functions of the Government and its economic significance.

The nature, scope and significance of public economics - Public vs Private Finance - Principle of Maximum Social advantage: Approaches and Limitations (Dalton and Hicks) - Functions of Government (a). Economic functions- allocation, distribution and stabilization (b) Regulatory functions of the Government and its economic significance.

Concept of public sector- Need for public sector- Concept of public goods- Characteristics of public goods- National vs. local public goods- Merit goods and club goods- Market failure and public Provision- Provision versus production of public goods- Determination of provision of public good- Samuelson’s rule- Externality: concept of social versus private costs and benefits.

Concept of public sector- Need for public sector- Concept of public goods- Characteristics of public goods- National vs. local public goods- Merit goods and club goods- Market failure and public Provision- Provision versus production of public goods- Determination of provision of public good- Samuelson’s rule- Externality: concept of social versus private costs and benefits.

Sources of Public Revenue- Tax revenue and non-tax revenue- Concept of tax- Canons of taxation- Approaches to the principle of Equity in taxation: (a) Ability to Pay principle (b) Benefit Approach- Taxable capacity- Incidence of taxes- Modern theory of incidence- Types of taxation- Laffer curve analysis- GST.

Sources of Public Revenue- Tax revenue and non-tax revenue- Concept of tax- Canons of taxation- Approaches to the principle of Equity in taxation: (a) Ability to Pay principle (b) Benefit Approach- Taxable capacity- Incidence of taxes- Modern theory of incidence- Types of taxation- Laffer curve analysis- GST.

Structure and growth of public expenditure- Pure theories of public expenditure (a) Lindahl’s benefit theory  (b) Pigou’s marginal ability theory (c) Samuelson’s pure theory of public expenditure - General Theories of Public Expenditure: (a)Wagner’s Law of increasing state activities (b) Wiseman-Peacock hypothesis (c) Colin Clark’s critical limit hypothesis- Trends of Public expenditure in India- Subsidies in India- Concepts of public debt- Types of public debt- Burden of public debt- Approaches to the burden of public debt (Pigou, Buchanan and Musgrave)- Redemption of public debt- methods- Growth of India’s public debt- interest payments expenditure.

Structure and growth of public expenditure- Pure theories of public expenditure (a) Lindahl’s benefit theory  (b) Pigou’s marginal ability theory (c) Samuelson’s pure theory of public expenditure - General Theories of Public Expenditure: (a)Wagner’s Law of increasing state activities (b) Wiseman-Peacock hypothesis (c) Colin Clark’s critical limit hypothesis- Trends of Public expenditure in India- Subsidies in India- Concepts of public debt- Types of public debt- Burden of public debt- Approaches to the burden of public debt (Pigou, Buchanan and Musgrave)- Redemption of public debt- methods- Growth of India’s public debt- interest payments expenditure.

Government budget and its structure – Receipts and   expenditure- Concepts of current and capital account- Functional classification of budget- Balanced, surplus, and deficit budgets- Concepts of fiscal imbalances- revenue deficit, effective revenue deficit, fiscal deficit and primary deficit- Budget multipliers- Budget, government policy and its impact- Concept of federalism- Different layers of the government- Principles of federal finance- Inter-governmental transfer and Theory of Grants- Horizontal vs. vertical equity in devolution- Finance Commission.

Government budget and its structure – Receipts and   expenditure- Concepts of current and capital account- Functional classification of budget- Balanced, surplus, and deficit budgets- Concepts of fiscal imbalances- revenue deficit, effective revenue deficit, fiscal deficit and primary deficit- Budget multipliers- Budget, government policy and its impact- Concept of federalism- Different layers of the government- Principles of federal finance- Inter-governmental transfer and Theory of Grants- Horizontal vs. vertical equity in devolution- Finance Commission.

MSE*: Mid-Semester Examination, ESE**: End-Semester Examination

Course Description   

The course is designed to be intellectually stimulating and charts out the economic thought from mercantilism to the contemporary period. This course is meant to evaluate the economic theory, ideas, doctrines and postulates of the various schools of thought proposed and developed by various economists. Economic thought forms the basis of the ideology and policies adopted in different countries

Course Objectives

The course aims to help students to:

• trace the historical beginnings of economic theories, doctrines and postulates of the different schools of thought
• associate the economists and the schools of thought that they belong to.
• understand the reasons for ideological differences in different counties

Why study History of Economic thought; major features of Mercantilism and the Physiocrats thought; Adam Smith and Ricardo : theory of value, distribution and labour; Malthus: the dismal science; J.S Mill: the first synthesis in economics.

Why study History of Economic thought; major features of Mercantilism and the Physiocrats thought; Adam Smith and Ricardo : theory of value, distribution and labour; Malthus: the dismal science; J.S Mill: the first synthesis in economics.

Karl Marx: an inquiry into the law of motion of the capitalist system; the socialist thought; the origin, nature and functioning of capitalism; use value and exchange value.

Karl Marx: an inquiry into the law of motion of the capitalist system; the socialist thought; the origin, nature and functioning of capitalism; use value and exchange value.

 First generation Marginalist: Jevons, Walras and Menger : their major contributions; Second generation marginalist: Edgeworth, Wicksteed and Clark: their major contributions; Alfred Marshall and the neoclassical tradition; the new theory of welfare and consumer behaviour.

 First generation Marginalist: Jevons, Walras and Menger : their major contributions; Second generation marginalist: Edgeworth, Wicksteed and Clark: their major contributions; Alfred Marshall and the neoclassical tradition; the new theory of welfare and consumer behaviour.

Keynes’s critique of the mainstream tradition; Keynesian, neo-Walrasians and monetarists

Keynes’s critique of the mainstream tradition; Keynesian, neo-Walrasians and monetarists

The debate about market failures and Coase’s theorem; The theory of social choice: Arrow’s Impossibility Theorem; Asymmetric information: Akerlof; Economic Theories of Justice: Rawl’s.

The debate about market failures and Coase’s theorem; The theory of social choice: Arrow’s Impossibility Theorem; Asymmetric information: Akerlof; Economic Theories of Justice: Rawl’s.

Active learning on institutional approach, heterodox approach to study economics and the behavioural school of thought in economics.

Active learning on institutional approach, heterodox approach to study economics and the behavioural school of thought in economics.

Kapp, W and Kapp, L., (1960). History of Economic Thought–A Book of Readings (6^th ed.). New York: Barnes Noble Inc.

 Keynes, J.M.(1939). The General Theory of Employment, Interest, and Money. The University of Adelaide Library Electronic Texts Collection.

Mill, J.S. and Bentham, J. (2004) Utilitarianism and other Essays. London: Penguin Classics.

Robbins, L. (2000). A History of Economic Thought: The LSE Lectures” (Eds.) by Steven G. Medema and Warren J. Samuels, Princeton: Princeton University Press

Smith, A. (2003). The Wealth of Nations. New York: Bantam Classic Edition.

Mundell, R. A. (1961). A theory of optimum currency areas. The American economic review, 51(4), 657-665.

Sen, A. K. (2017). Collective choice and social welfare, Expanded edition, London: Penguin.

Greenwald, B. C., & Stiglitz, J. E. (1990). Asymmetric Information and the New Theory of the Firm: Financial Constraints and Risk Behavior (No. w3359). National Bureau of Economic Research.

Krugman, P. (2009). The increasing returns revolution in trade and geography. The American Economic Review, 99(3), 561-571.

Thaler, R. (1985). Mental Accounting and Consumer Choice. Marketing science, 4(3), 199-214.

Course Description

The course will provide a broad overview of the scholarly field known as "law and economics.". This field is an amalgamation of the areas of economics and law, to understand how economic theory can be used to analyse the framework of law. The economic concepts as efficiency and incentives form the crux of the economic analysis of various core areas of law: property, tort, contracts and crime. With the focus on efficiency the course allows to understand the debate put forward by economists that market mechanism is more efficient than courts.

Course Objectives

 The objectives of the course are:

• to create the understanding of the importance of economic analysis of law.
• to introduce basic legal traditions and comprehend the nature of legal dispute.
• to apply basic economic concepts to develop economic conceptualization of law in specific areas 

Meaning of Economic Analysis of Law: Examples, Primacy of efficiency over distribution in analyzing Private Law, Importance of studying Law for Economists and Economics for Lawyers.

Meaning of Economic Analysis of Law: Examples, Primacy of efficiency over distribution in analyzing Private Law, Importance of studying Law for Economists and Economics for Lawyers.

The Legal Traditions: The Civil and Common - evolution, differences; Nature of Legal dispute; Evolution of Legal Rules; The Institutions of the federal and the State Court systems in the United States and Structure of Court System in India.

The Legal Traditions: The Civil and Common - evolution, differences; Nature of Legal dispute; Evolution of Legal Rules; The Institutions of the federal and the State Court systems in the United States and Structure of Court System in India.

The Legal Concept of Property; Bargaining theory; The Origins of Institution of Property: a thought experiment, An Economic theory of Property, Ownership and Protection of Property.

The Legal Concept of Property; Bargaining theory; The Origins of Institution of Property: a thought experiment, An Economic theory of Property, Ownership and Protection of Property.

An Introduction to Contracts : The Bargain Theory of Contract – Economic Theory of Contract – Economics of Contract Law.

An Introduction to Contracts : The Bargain Theory of Contract – Economic Theory of Contract – Economics of Contract Law.

Basics of Law of Tort: Defining Tort Law – Economic Essence of Tort Law ; Traditional theory of Tort Liability – An Economic Theory of Tort Liability; Economics of Damage Remedy : Extending the Economic model.

Basics of Law of Tort: Defining Tort Law – Economic Essence of Tort Law ; Traditional theory of Tort Liability – An Economic Theory of Tort Liability; Economics of Damage Remedy : Extending the Economic model.

The Legal theory of Crime and Punishment– Economic Theory of Crime and Punishment.

The Legal theory of Crime and Punishment– Economic Theory of Crime and Punishment.

The Competition Act 2002 and Recent Amendments and Intellectual Property Rights in India:  Issues, Challenges and Comparison.

The Competition Act 2002 and Recent Amendments and Intellectual Property Rights in India:  Issues, Challenges and Comparison.

The Future of Law and Economics: Essays by Ten Law School Scholars.

The Future of Law and Economics: Essays by Ten Law School Scholars.

Calabresi, G. (2017). Future of Law and Economics. United States:  Yale University Press .

Friedman, D. (2008). Law's order. Princeton, NJ:   Princeton Univ. Press.

Posner, R. (2014). Economic analysis of law. New York: Wolters Kluwer Law & Business.

Mercuro, N., & Medema, S. (2006). Economics and the law. Princeton, NJ: Princeton University Press.

Wittman, D. (2008). Economic Analysis of the Law.(ed). New York, NY: John Wiley & Sons.

Polinsky, M., & Shavell, S. (2007). Handbook of law and economics. Amsterdam: North Holland.

Landes, W., & Posner, R. (1987). The economic structure of tort law. Cambridge, Massachusetts: Harvard University Press.

Wahl, J. (1998). Overview and economic analysis of property and criminal law. Taylor and Francis.

Rachlinski, J. (2009). Behavioral law and economics. Cheltenham: Elgar.

Posner, R. (1983). Economics of Justice. Cambridge: Harvard University Press 

Course Description

The primary aim of this course is to introduce students to political economy theory and the political economy of India.  The discourse examines the interplay of politics and economics so that students comprehend the impact of political processes on economic development.  Thirdly, the aim is to acquaint students to significant political economy issues namely liberalization and withdrawal of the state from its engagement in development.

Course Objective

The course aims to help students to:

• Interpret the theoretical perspectives of Political Economy and familiarize them with the debates in the Political Economy of India.
• Explain how political ideology influences economic actions, processes and planning at the macro level.
• Discuss ideas such as Autonomy of the State, Dynamics of Dominant Oligarchy, and class hierarchy to examine their impact on Public Mobilization and Capital Management.
• Develop writing and presentation skills to effectively discuss complex ideas.

People and Society; Theory of complementary holism; Justice maxims: Conservative, liberal and radical and their shortcomings.

People and Society; Theory of complementary holism; Justice maxims: Conservative, liberal and radical and their shortcomings.

The function of the Market: Supply and Demand reconsidered - The Fallacy of the Beneficent Invisible Hand and Market Failure. Macroeconomy: Macro Law of Supply and Demand reconsidered – Myth about Inflation and Deficits – Wage Led Growth.

The function of the Market: Supply and Demand reconsidered - The Fallacy of the Beneficent Invisible Hand and Market Failure. Macroeconomy: Macro Law of Supply and Demand reconsidered – Myth about Inflation and Deficits – Wage Led Growth.

Gradualism vs. Radical economic and social change: Caste composition of classes and class divisions within castes; Mixed economy model in India: its evolution as a pattern of mobilisation and the goals of planning.

Gradualism vs. Radical economic and social change: Caste composition of classes and class divisions within castes; Mixed economy model in India: its evolution as a pattern of mobilisation and the goals of planning.

Political economy of liberalisation: The attack on socialist principles of planning and retreat of the state from economic planning; The aims and achievements of privatisation; The interface between public investment and economic growth.

Political economy of liberalisation: The attack on socialist principles of planning and retreat of the state from economic planning; The aims and achievements of privatisation; The interface between public investment and economic growth.

Autonomy of the State; Dynamics of dominant oligarchy and the re-emergence of the dominant propriety classes: A brief examination on their impact on public mobilisation and capital management.

Autonomy of the State; Dynamics of dominant oligarchy and the re-emergence of the dominant propriety classes: A brief examination on their impact on public mobilisation and capital management.

Indian Developers and foreign investors; Making a market 1: Government reforms; Making a market 2: Investor-developer collaborations; The politics of commensuration; Value of companies; Value of land; Value of enterprise; Two different fields of practice; Value projects.


Indian Developers and foreign investors; Making a market 1: Government reforms; Making a market 2: Investor-developer collaborations; The politics of commensuration; Value of companies; Value of land; Value of enterprise; Two different fields of practice; Value projects.


Frankel, F. R. (2005). India’s Political Economy: 1947 – 2004. (2nd ed.). Oxford India Paperbacks: Oxford University Press.

Hahnel, R. (2002). The ABCs of Political Economy: A Modern Approach. Pluto Press.

Jenkins, R. (1999). Democratic Politics and Economic Reform in India. Cambridge University Press.

Searle, L. G. (2014). Conflict and Commensuration: Contested Market Making in India’s Private Real Estate Development Sector. In G. Shatkin (ed.) Contesting the Indian city: global visions and the politics of the local (pp. 65–90). Oxford: John Wiley & Sons, Ltd.

Basu, K. (2005). India’s Emerging Economy: Performance and Prospects in the 1990s and beyond. Oxford India Paperbacks: Oxford University Press.

Kohli, A. (2010). Democracy and Development in India: From Socialism to Pro – Business. Oxford India Paperbacks: Oxford University Press.

Course Description:

 This course is designed to give a systematic introduction to the concept of money and banking and non-banking system in the country. This course aims at imparting overall knowledge about Definition and functions of money, Commercial Banking, Central banking and their functions.  This course exposes students to the theory and functioning of the monetary and financial sectors of the economy.

 Course Objectives:

 This course aims to make students: 

• to know the concept and definitions of money and its application;
• various factors which influence the money supply in the country;
• role and various functions of banking and non-banking financial institutions;
• functions of central bank and new development in banking industry.

Definitions and functions of money; Types of money: legal tender money and bank money, near money; Value of money and index number; construction of index number; WPI, CPI, and PPI; Monetary Base.  

Definitions and functions of money; Types of money: legal tender money and bank money, near money; Value of money and index number; construction of index number; WPI, CPI, and PPI; Monetary Base.  

Determinants of Money Supply, Demand for money- Classical and Keynesian approaches, Patinkin and the Real Balance Effect; Friedman’s Quantity theory of money. Supply of Money- Measures of money supply: M1,M2, M3 and M4; High powered money and money multiplier, CRR, SLR, REPO, Reverse REPO.

Determinants of Money Supply, Demand for money- Classical and Keynesian approaches, Patinkin and the Real Balance Effect; Friedman’s Quantity theory of money. Supply of Money- Measures of money supply: M1,M2, M3 and M4; High powered money and money multiplier, CRR, SLR, REPO, Reverse REPO.

Meaning and types; Functions of commercial banks; the process of credit creation and its limitations; Indian banking system: Changing role and structure; banking sector reforms. Lessons from Global Financial Crisis and Policy Response in India, Role of commercial banks in economic development.

Non- banking financial organizations-Objective, aims, roles and structure, Types and functions of non-banking financial institutions in economic development.

Meaning and types; Functions of commercial banks; the process of credit creation and its limitations; Indian banking system: Changing role and structure; banking sector reforms. Lessons from Global Financial Crisis and Policy Response in India, Role of commercial banks in economic development.

Non- banking financial organizations-Objective, aims, roles and structure, Types and functions of non-banking financial institutions in economic development.

Functions of the Central Bank. Quantitative and qualitative methods of credit control: Bank rate policy, Open market operations, Cash reserve ratio and selective methods. Role and functions of the Reserve Bank of India, Monetary Policy: objectives, Limitations of Monetary Policy with reference to India. Current monetary policy of India.

Functions of the Central Bank. Quantitative and qualitative methods of credit control: Bank rate policy, Open market operations, Cash reserve ratio and selective methods. Role and functions of the Reserve Bank of India, Monetary Policy: objectives, Limitations of Monetary Policy with reference to India. Current monetary policy of India.

Recent Developments in Banking Sector: Bank Mergers and Acquisitions; Demonetization; Non-performing assets, Central Bank Digital Currency (CBDC), Crypto currency, Digital payment systems, and Cashless India.

Recent Developments in Banking Sector: Bank Mergers and Acquisitions; Demonetization; Non-performing assets, Central Bank Digital Currency (CBDC), Crypto currency, Digital payment systems, and Cashless India.

Ball, L. (2011). Money, Banking and Financial Markets. Macmillan. Burton, M., & Brown, B. (2014). Financial System of the Economy: Principles of Money and Banking: Principles of Money and Banking. Routledge.

Durlauf, S.N., and Blume, L. (2010). Monetary Economics. Palgrave McMillan

Hajela, T.N., (2009). Money and Banking, Ane Books Pvt Ltd., New Delhi.

M. Y. Khan, (2011). Indian Financial System, Tata McGraw Hill, 7th edition.

Handa, J. (2009). Monetary Economics. Routledge. Jayadev, M. (2013). Basel III implementation: Issues and challenges for Indian banks. IIMB Management Review, 25(2), 115-130.

Sundharam KPM, Banking: Theory, Law and Practice, Sultan Chand and Sons, New Delhi

R.R. Paul, Money, Banking & International Trade, Kalyani Publications, Ludhiana.

K.C. Sekhar, Banking – Theory and Practice, Vikas Publishing House, New Delhi.

Ball, L. (2011). Money, Banking and Financial Markets. Macmillan.

* Mid Semester Exam ** End Semester Exam

Game theory is a toolkit for analyzing situations in which payoffs depend not only on your actions but also on those of others.  This course introduces you to some of the already heard famous games, like the prisoners' dilemma and bargaining games. In addition to these, the course introduces the students to games with perfect and imperfect information such as auctions and signaling games, and coalitional and repeated games. Game theory models conflict and cooperation between rational decision-making agents. It has applications in a wide variety of areas, including statistical decision theory, artificial intelligence (online learning, multi-agent systems), economics and business (auctions, pricing, bargaining), biology (evolution, signaling behavior, fighting behavior), political science (stability of government, military strategy), and philosophy (ethics, morality and social norms).

Course Objectives:

The objectives of offering this course are to:

• illustrate how people actually behave and how they should be advised to behave in strategic situations;
• experiment with the role of conflicting or shared goals, timing, private information and its manipulation in determining outcomes;
• assess the behavior of agents, like firms in an oligopoly, participants in an auction and designing truth-telling mechanisms. 

Strategic Games, Examples - the Prisoner’s Dilemma, Bach or Stavinsky, Matching Pennies, the Stag Hunt. Nash Equilibrium, experimental evidence of Prisoner’s Dilemma, Best Response Functions, Dominated actions, Equilibrium in a single population - symmetric games and symmetric equilibria. Cournot’s Model of Oligopoly, Bertrand’s Model of Oligopoly, Electoral Competition, The War of Attrition, Auctions, Accident Law.

Strategic Games, Examples - the Prisoner’s Dilemma, Bach or Stavinsky, Matching Pennies, the Stag Hunt. Nash Equilibrium, experimental evidence of Prisoner’s Dilemma, Best Response Functions, Dominated actions, Equilibrium in a single population - symmetric games and symmetric equilibria. Cournot’s Model of Oligopoly, Bertrand’s Model of Oligopoly, Electoral Competition, The War of Attrition, Auctions, Accident Law.

Strategic Games in which players may randomize; mixed strategy Nash equilibrium; pure equilibria when randomization is allowed; equilibrium in a single population; formation of players'’ beliefs. Extensive games with perfect information, strategies and outcomes, Subgame Perfect Equilibrium, and Backward induction. Stackelberg’s model of the duopoly.

Strategic Games in which players may randomize; mixed strategy Nash equilibrium; pure equilibria when randomization is allowed; equilibrium in a single population; formation of players'’ beliefs. Extensive games with perfect information, strategies and outcomes, Subgame Perfect Equilibrium, and Backward induction. Stackelberg’s model of the duopoly.

Allowing for simultaneous move; entry into a monopolized industry; electoral competition with strategic voters; committee decision-making; exit from a declining industry; Allowing for exogenous uncertainty; subgame perfect equilibrium and backward induction; Experimental evidence on the centipede game.  Coalitional Games and the Core - Coalitional games; the Core; ownership and the distribution of wealth; exchanging homogeneous horses; exchanging heterogeneous houses; voting; matching; Matching doctors with hospitals.

Allowing for simultaneous move; entry into a monopolized industry; electoral competition with strategic voters; committee decision-making; exit from a declining industry; Allowing for exogenous uncertainty; subgame perfect equilibrium and backward induction; Experimental evidence on the centipede game.  Coalitional Games and the Core - Coalitional games; the Core; ownership and the distribution of wealth; exchanging homogeneous horses; exchanging heterogeneous houses; voting; matching; Matching doctors with hospitals.

Bayesian Games; Cournot’s duopoly game with imperfect information; providing a public good; Extensive games with imperfect information; Strategies; Beliefs and sequential equilibrium; Signalling games; conspicuous expenditure as a signal of quality; education as a signal of ability; strategic information transmission; agenda control with imperfect information. Repeated Games: The Prisoner’s Dilemma; Finitely repeated Prisoner’s Dilemma; Infinitely repeated Prisoner’s Dilemma; Strategies in an infinitely repeated Prisoner’s Dilemma; Some Nash equilibria of an infinitely repeated Prisoner’s Dilemma; Nash equilibrium payoffs of an infinitely repeated Prisoner’s Dilemma.

Bayesian Games; Cournot’s duopoly game with imperfect information; providing a public good; Extensive games with imperfect information; Strategies; Beliefs and sequential equilibrium; Signalling games; conspicuous expenditure as a signal of quality; education as a signal of ability; strategic information transmission; agenda control with imperfect information. Repeated Games: The Prisoner’s Dilemma; Finitely repeated Prisoner’s Dilemma; Infinitely repeated Prisoner’s Dilemma; Strategies in an infinitely repeated Prisoner’s Dilemma; Some Nash equilibria of an infinitely repeated Prisoner’s Dilemma; Nash equilibrium payoffs of an infinitely repeated Prisoner’s Dilemma.

Osborne, M. J., & Rubinstein, A. (1994). A course in game theory. MIT press.

Binmore, K. (2007). Playing for real: a text on game theory. Oxford university press.

Dixit, A. K., & Skeath, S. (2015). Games of Strategy: Fourth International Student Edition. WW Norton & Company.

Tadelis, S. (2013). Game theory: an introduction. Princeton university press.

Course Description:

One of the requirements for the completion of the BA Economics Honours programmes at CHRIST (Deemed to be University) is to conduct original research work under the guidance of a faculty member and submit it in the form of a research dissertation. Having undergone extensive training in Mathematical Economics, Statistical Methods, Research Methodology and Econometrics, this course enables students to demonstrate an understanding of how to apply their theoretical knowledge to practice by investigating and carefully evaluating real-time economic issue(s).

The dissertation should be a minimum of 10,000 words in length (or approximately 35 pages) formatted following the APA 6th Edition guidelines. The word count includes the title, table of content, text, tables, citations, quotations and footnotes. The certificate pages, acknowledgement page, the abstract (150 - 250 words, with 5 Keywords), the reference list, and the appendices are excluded from the word count.

Course Objectives:

The course aims to:

1. inculcate in students the rigour of research work.
2. imbibe in students the spirit of inquiry.
3. train the students in the collection and analysis of data.
4. train the students in the interpretation of findings.

The students will continue from the formative work they have done in the 5th semester and submit the thesis for evaluation.

The students will continue from the formative work they have done in the 5th semester and submit the thesis for evaluation.

Course Description :

The primary objective of this course is to familiarize the database management and various discipline specific software packages to the students and help them to analyse the basic statistical methods for data analysis. The theme identified for the fifth and sixth semester is Data management and Technical Knowledge.

Course Objective :

The course aims to:

• Develop discipline specific skills for professional and personal growth. 
• Provide a platform to nurture and hone skills necessary for professional development 

Students must choose MOOC courses offered by various online platforms in the specific themes given for the Fifth and sixth semesters. This consists of various discipline software packages, SPSS, Excel, R, Adobe, Python, Tableau, Nvivo etc.

Students must choose MOOC courses offered by various online platforms in the specific themes given for the Fifth and sixth semesters. This consists of various discipline software packages, SPSS, Excel, R, Adobe, Python, Tableau, Nvivo etc.