CIAs are composed of three components and carry 50% weightage CIA 1 and 3 are faculty-initiated ones, CIA 2 is the Mid-semester examination. End Semester Exam carries 50% weightage.

Established in 1969, the Department of Economics has progressed into one of the most vibrant centres of learning economics in the country. The Department of Economics at the Central Campus offers four undergraduate Triple Major programmes and two post-graduate programmes. The Department functions under the School of Social Sciences, under the leadership of Dr. Tony Sam George, the Dean and Dr. Joshy K J, the Head of the Department. The Department has nineteen full time, permanent faculty members at the Central Campus who are highly specialised in different areas of the discipline. One of the highlights of the academic programmes is the emphasis on research-based curriculum and experiential learning. To ensure the holistic development of the students and to sustain the academic inventiveness of the faculty the department engages in numerous workshops, seminars, industry interfaces, faculty development programmes and student activities.

Vision- Achieving excellence, broadening horizons, building competencies and developing a sustainable education model through critical thinking, ethical groundedness and commitment to society.

Mission- Preparing students to understand and resolve the multitude of challenges in the economy through relevant research-based education. We aim to educate our students to become successful professionals and socially responsible citizens who contribute positively to the socio-economic well-being.

The MA Applied Economics programme of the Department of Economics in CHRIST (Deemed to be University) aims to form ethically well-grounded students with the ability for incisive reasoning, deep knowledge of economic theory and skill in empirical methodology. One of the highlights of the academic programmes is the emphasis on research-based curriculum and experiential learning. The Programme seeks to strike a sound balance between theory and application along with an interdisciplinary dimension without diminishing the focus on economics. This approach is meant to help students face the dynamic challenges in terms of the market and academics. In line with this approach the programme has a combination of papers related to economic theory, methodology and three streams of specialisations which, on the one hand meet the needs of corporate employment and on the other create the ability of applying economic theory to development problems of the world. More specifically students will be equipped to take up careers in academics, teaching, research, business consulting and analytics, civil society and activist organisations, the public sector, government services and international civil services.

Programme Outcome/Programme Learning Goals/Programme Learning Outcome:

PO2: Identify and critically examine the issues concerning economic, institutional and social structures by problematising and raising reflective questions for academic inquiry.

PO3: Exhibit ability to independently carry out a research project using tools and skills acquired through research methodology, statistics, and econometrics.

PO4: Demonstrate expertise in soft skills that will enable them to communicate effectively and engage with their peers, work spaces and community at large.

PO5: Engage with societal problems through informed and active citizenry by undertaking field assignments and projects.

PO6: Recognise and accept plurality of values and understand how individual choices have ethical and wellbeing implications for oneself and others.

PO7: Work with environmental consciousness and gender sensitive values by critically engaging with theories and policy debates in the areas of environmental and gender concerns.

The curriculum provides a framework through which students learn data analytics skills, expand their knowledge of Business Analytics, and gain a strategic perspective of the industry. The course is designed around the real-world integration of business disciplines.

Big Data Management - Business Fundamentals - Data Collection - Data Visualization - Statistical Analysis - Text Analytics -Consumer Behavior and CRM - Data Mining

Big Data Management - Business Fundamentals - Data Collection - Data Visualization - Statistical Analysis - Text Analytics -Consumer Behavior and CRM - Data Mining

What is Descriptive Analytics? - Descriptive Data Collection: Survey Overview - Descriptive Data Collection: Net Promoter Score and Self-Reports - Descriptive Data Collection: Survey Design - Passive Data Collection - Media Planning - Causal Data Collection and Summary

What is Descriptive Analytics? - Descriptive Data Collection: Survey Overview - Descriptive Data Collection: Net Promoter Score and Self-Reports - Descriptive Data Collection: Survey Design - Passive Data Collection - Media Planning - Causal Data Collection and Summary

The Newsvendor Problem - Comparing Decisions in Uncertain Settings - Simulating Uncertain Outcomes in Excel - Interpreting and Visualizing Simulation Output - Decision Trees - Using Simulation with Decision Trees - Using Optimization Together with Simulation.

The Newsvendor Problem - Comparing Decisions in Uncertain Settings - Simulating Uncertain Outcomes in Excel - Interpreting and Visualizing Simulation Output - Decision Trees - Using Simulation with Decision Trees - Using Optimization Together with Simulation.

Goals for the Course - Course Outline and Overview - People Analytics in Practice - Performance Evaluation: the Challenge of Noisy Data - Chance vs. Skill: the NFL Draft - Finding Persistence: Regression to the Mean - Extrapolating from Small Samples - The Wisdom of Crowds: Signal Independence - Process vs. Outcome - Summary of Performance Evaluation

Goals for the Course - Course Outline and Overview - People Analytics in Practice - Performance Evaluation: the Challenge of Noisy Data - Chance vs. Skill: the NFL Draft - Finding Persistence: Regression to the Mean - Extrapolating from Small Samples - The Wisdom of Crowds: Signal Independence - Process vs. Outcome - Summary of Performance Evaluation

Earnings Management - Overview of Earnings Management - Revenue Recognition Red Flags: Revenue Before Cash Collection - Revenue Recognition Red Flags: Revenue After Cash Collection - Expense Recognition Red Flags: Capitalizing vs. Expensing - Expense Recognition Red Flags: Reserve Accounts and Write-Offs – prediction models

Earnings Management - Overview of Earnings Management - Revenue Recognition Red Flags: Revenue Before Cash Collection - Revenue Recognition Red Flags: Revenue After Cash Collection - Expense Recognition Red Flags: Capitalizing vs. Expensing - Expense Recognition Red Flags: Reserve Accounts and Write-Offs – prediction models

Why is it relevant? The four V’s, Is Big Data= Hadoop?, Big Data and Cloud Computing, Generators of Big Data, Applications of Big Data

Why is it relevant? The four V’s, Is Big Data= Hadoop?, Big Data and Cloud Computing, Generators of Big Data, Applications of Big Data

Course Description:

MEC131 Advanced Microeconomics is an intensive course focusing on advanced topics in microeconomic theory and applications. The course covers the theory of consumer behaviour, theory of firms, game theory, general equilibrium, and welfare economics. Through rigorous theoretical discussions and practical examples, students will develop a deep understanding of microeconomic principles and their real-world implications.

Objectives of the course:

·       To provide students with a strong theoretical foundation in microeconomic principles and theories, enabling them to understand and analyse economic behaviour at the individual, firm, and market levels.

·       To develop students' analytical skills, including the ability to critically evaluate economic concepts, models, and empirical evidence, and to apply them to real-world economic problems.

·       To equip students with problem-solving abilities to analyse complex economic scenarios, formulate solutions, and evaluate the implications of alternative policy choices.

Choice of a representative consumer- Utility function: existence and characteristics; Budget sets; Demand functions; Income and substitution effects; Slutsky’s theorem: Indirect utility functions, Roy's Identity; Hicksian compensated demand functions; Expenditure functions; Substitutes and complements: gross and pure; Revealed preference.

Choice of a representative consumer- Utility function: existence and characteristics; Budget sets; Demand functions; Income and substitution effects; Slutsky’s theorem: Indirect utility functions, Roy's Identity; Hicksian compensated demand functions; Expenditure functions; Substitutes and complements: gross and pure; Revealed preference.

Characterizing perfect competition; Pricing and output under perfectly competitive markets; Monopoly markets: Pricing, discrimination; welfare costs; Monopolistic competition: Characteristics; Long run and short run behaviour; Oligopoly; choosing a strategy; Quantity leadership; price leadership; Simultaneous quantity setting; Collusion: Instability; Dominant firm; compensating variation; Price and output determination under monopsony and bilateral monopoly.

Characterizing perfect competition; Pricing and output under perfectly competitive markets; Monopoly markets: Pricing, discrimination; welfare costs; Monopolistic competition: Characteristics; Long run and short run behaviour; Oligopoly; choosing a strategy; Quantity leadership; price leadership; Simultaneous quantity setting; Collusion: Instability; Dominant firm; compensating variation; Price and output determination under monopsony and bilateral monopoly.

Games with perfect information-Strategic Games, Nash Equilibrium, Cornet and Bertrand Game; Mixed Strategy Equilibrium; Extensive Form Game with Perfect Information- Stackelberg Model of Duopoly, Buying Votes; Strategic Games with Imperfect Information- Bayesian Games, Cournot’s Duopoly with Imperfect Information, Signalling Games

Games with perfect information-Strategic Games, Nash Equilibrium, Cornet and Bertrand Game; Mixed Strategy Equilibrium; Extensive Form Game with Perfect Information- Stackelberg Model of Duopoly, Buying Votes; Strategic Games with Imperfect Information- Bayesian Games, Cournot’s Duopoly with Imperfect Information, Signalling Games

Partial and general equilibrium; Walrasian excess demand and input-output approaches to general equilibrium; General equilibrium theory in consumption and production, General equilibrium under uncertainty

Partial and general equilibrium; Walrasian excess demand and input-output approaches to general equilibrium; General equilibrium theory in consumption and production, General equilibrium under uncertainty

Pigovian welfare economics; Pareto optimal conditions; Value judgment; Social welfare function; Compensation principle; Inability to obtain optimum welfare–Imperfections, market failure, decreasing costs; Uncertainty and non–existent and incomplete markets; Theory of second-best –Arrow’s impossibility theorem, Rawl’s theory of Justice; Equity efficiency trade-off.

Pigovian welfare economics; Pareto optimal conditions; Value judgment; Social welfare function; Compensation principle; Inability to obtain optimum welfare–Imperfections, market failure, decreasing costs; Uncertainty and non–existent and incomplete markets; Theory of second-best –Arrow’s impossibility theorem, Rawl’s theory of Justice; Equity efficiency trade-off.

Koutsoyiannis, A., (1979). Modern Microeconomics. London: MacmillanPress.

(IGT) Martin Osborne, An Introduction to Game Theory, Oxford University Press, 2003 (Unit 3)

Kreps, David M., (1990). A Course in Microeconomic Theory. Princeton: Princeton University Press.

Mas-Colell, A., Whinston, M. D., & Green, J. R. (1995). Microeconomic theory (Vol. 1). New York: Oxford university press.

Varian, Hal R., (2000). Microeconomic Analysis. New York: W.W. Norton & Company.

Varian, Hal R., (2010). Intermediate microeconomics: a modern approach. Vol. 6. New York: W.W. Norton & Company.

CIA 2 (MSE) - 25%

CIA 3 - 10%

ESE - 50%

Attendance - 5%

The course aims to acquaint students with the essential concepts and issues in modern macroeconomics, applicable both in theory and practice across the world. The first unit delves into the concepts of inflation, unemployment and productivity, exploring the interconnectedness between the key variables and provides policy insights to the students. Next unit introduces to the theories of money demand and interest rates, tracing its origin in the classical school, the unit further delves into the discussion on the interest rates and portfolio theories. The third unit focuses on business cycle theories and Post-Keynesian Economics. It helps the students to understand the theoretical foundation of macroeconomics and the contribution of different schools of thought to the further development of macroeconomics. In the fourth unit, a special attention is given to the real-business cycle and New-Keynesian economics. These modules would help students to critically evaluate the consequences of basic macroeconomic policy options under differing economic conditions within a business cycle.

Development of macroeconomics-Classical dichotomy and monetary neutrality- Classical, Neo-classical and modern theories of inflation- Keynesian and monetarist views on inflation- Inflation in the static model-Wages, prices and productivity-The relation of wages to unemployment- Short run and long run Phillips curve and the policy implications- Modifications in Phillips curve- Natural rate of unemployment-Seigniorage and hyperinflation-disinflation.

Development of macroeconomics-Classical dichotomy and monetary neutrality- Classical, Neo-classical and modern theories of inflation- Keynesian and monetarist views on inflation- Inflation in the static model-Wages, prices and productivity-The relation of wages to unemployment- Short run and long run Phillips curve and the policy implications- Modifications in Phillips curve- Natural rate of unemployment-Seigniorage and hyperinflation-disinflation.

The Classical and Neoclassical views on holding money- Real and monetary theories of the rate of interest: liquidity preference and loanable funds theories of interest- The term structure of interest rates: Pure Expectations, Pure segmentation and Substitutability theories- Portfolio theories of demand for money- Baumol-Tobin approach to transaction demand for money- Tobin’s portfolio optimization approach- Friedman’s quantity theory of money.

The Classical and Neoclassical views on holding money- Real and monetary theories of the rate of interest: liquidity preference and loanable funds theories of interest- The term structure of interest rates: Pure Expectations, Pure segmentation and Substitutability theories- Portfolio theories of demand for money- Baumol-Tobin approach to transaction demand for money- Tobin’s portfolio optimization approach- Friedman’s quantity theory of money.

Measurement, Endogenous theories (Hicks, Goodwin, Kaldor), Exogenous theories - Real Business Cycle Theories - Real Business Cycle School and inter temporal substitution of labour- Real Business Cycle theory- technology shocks- neutrality of money and flexibility of wages and prices- Real Business cycle view on great depression- The modern monetarism, major postulates- Keynesian policy framework- The New Classical macroeconomics- Stagflation trend-The Supply-Side economics- major implications.

Measurement, Endogenous theories (Hicks, Goodwin, Kaldor), Exogenous theories - Real Business Cycle Theories - Real Business Cycle School and inter temporal substitution of labour- Real Business Cycle theory- technology shocks- neutrality of money and flexibility of wages and prices- Real Business cycle view on great depression- The modern monetarism, major postulates- Keynesian policy framework- The New Classical macroeconomics- Stagflation trend-The Supply-Side economics- major implications.

Market for foreign exchange, devaluation and depreciation, real and nominal exchange rate, factors affecting exchange rate, Mundell-Fleming model, fixed versus floating exchange rate, price adjustment, role of fiscal and monetary policies under alternative exchange rate regimes, purchasing power parity concept.

Market for foreign exchange, devaluation and depreciation, real and nominal exchange rate, factors affecting exchange rate, Mundell-Fleming model, fixed versus floating exchange rate, price adjustment, role of fiscal and monetary policies under alternative exchange rate regimes, purchasing power parity concept.

CIA II   : 50 Marks (Mid Semester Examiniation)

CIA III  : 20 Marks

ESE       : 100 Marks

This course aims to provide basic ideas on how to think as a researcher, the various considerations involved in the practice of social research and how these relate to the strategy and design of research.

Ways of knowing and understanding the world and the research process - The nature of knowledge and theory - Philosophy of Social Science Research - Relevance of Social Science Research - Objectivity and Values in Social Sciences.

Ways of knowing and understanding the world and the research process - The nature of knowledge and theory - Philosophy of Social Science Research - Relevance of Social Science Research - Objectivity and Values in Social Sciences.

Theory Construction in Social Science Research - Approaches to Social Science and Managerial Research, Theoretical, Applied and Action Research - Ethical Issues in Research on Human or Social Subjects - Non-sexist approach in Social Sciences.

Theory Construction in Social Science Research - Approaches to Social Science and Managerial Research, Theoretical, Applied and Action Research - Ethical Issues in Research on Human or Social Subjects - Non-sexist approach in Social Sciences.

Review of Literature - Identification of Research Gaps and Research Needs - Identification, selection and formulation of research problem - Formulating Hypotheses/Propositions/Issues, conceptualizing research problem.

Review of Literature - Identification of Research Gaps and Research Needs - Identification, selection and formulation of research problem - Formulating Hypotheses/Propositions/Issues, conceptualizing research problem.

Uni-disciplinary, inter-disciplinary, multi-disciplinary methodologies - Quantitative Research Methods: An Overview - Qualitative Research Methods: An Overview - Historical Method - Case Study Method - Action Research - Monitoring and Evaluation - Triangulation (including/mixing Qualitative and Quantitative) Methods.

Uni-disciplinary, inter-disciplinary, multi-disciplinary methodologies - Quantitative Research Methods: An Overview - Qualitative Research Methods: An Overview - Historical Method - Case Study Method - Action Research - Monitoring and Evaluation - Triangulation (including/mixing Qualitative and Quantitative) Methods.

Secondary Sources of Information: Using and Integrating secondary and primary information - Quantitative Data: Kinds and quality of Data, demography, labour force, agriculture, industry - Quantitative Data: Human resources, education, health, housing, employment, banking, rural data bas - Quantitative Data: Survey Reports, Research Studies, Historical Data Tools - Statistical Systems – International, National and Local: Objectivity, Reliability and Validity of Data - Surveys and Questionnaires: Questionnaire, Schedule Design and Construction, Sample Surveys, Survey Administration - Observation – Structured and unstructured, Recording and Interpretation of Observations, Ethnography -Interviews: Nature of the Interview Process - Structured and Unstructured Interviews, Focus Groups, Group Discussions.

Secondary Sources of Information: Using and Integrating secondary and primary information - Quantitative Data: Kinds and quality of Data, demography, labour force, agriculture, industry - Quantitative Data: Human resources, education, health, housing, employment, banking, rural data bas - Quantitative Data: Survey Reports, Research Studies, Historical Data Tools - Statistical Systems – International, National and Local: Objectivity, Reliability and Validity of Data - Surveys and Questionnaires: Questionnaire, Schedule Design and Construction, Sample Surveys, Survey Administration - Observation – Structured and unstructured, Recording and Interpretation of Observations, Ethnography -Interviews: Nature of the Interview Process - Structured and Unstructured Interviews, Focus Groups, Group Discussions.

Choice of Statistical and Processing Techniques - Interpretative Narrative Methods - Theory of the Testing of Hypotheses - Presentation of Research Findings, Products of Research, Thesis Writing - Factors conducive to research utilization.

Choice of Statistical and Processing Techniques - Interpretative Narrative Methods - Theory of the Testing of Hypotheses - Presentation of Research Findings, Products of Research, Thesis Writing - Factors conducive to research utilization.

The objective of the paper is to make students familiar with theory and application of statistical methods.  This course covers the statistical foundations of data analysis including the statistical theory and its applications in Economics. In particular, this module broadly covers the descriptive statistics, theory of probability, statistical distributions, estimation and hypothesis testing, and non-parametric tests.

 Concept of probability, conditional probability and Bayes theorem, random variables discrete and continuous

Excel-Introduction of data analysis package in Excel, Descriptive statistics, Correlation, Covariance

 Concept of probability, conditional probability and Bayes theorem, random variables discrete and continuous

Excel-Introduction of data analysis package in Excel, Descriptive statistics, Correlation, Covariance

Discrete versus continuous distribution, uniform, binomial, negative binomial, Poisson, geometric and hyper-geometric, normal distribution

Excel-Frequency Distribution and it’s diagrammatic presentation- Construction of frequency distribution – Histogram, Boxplot

Discrete versus continuous distribution, uniform, binomial, negative binomial, Poisson, geometric and hyper-geometric, normal distribution

Excel-Frequency Distribution and it’s diagrammatic presentation- Construction of frequency distribution – Histogram, Boxplot

Simple random sampling: with and without replacement, stratified random sampling, probability and non-probability sampling, sampling distributions: Students-t, Chi-square and F-distribution, determinants of sample size

Excel: Scatter Plots, Cross Tabulation, Pivot Table and Chart

Simple random sampling: with and without replacement, stratified random sampling, probability and non-probability sampling, sampling distributions: Students-t, Chi-square and F-distribution, determinants of sample size

Excel: Scatter Plots, Cross Tabulation, Pivot Table and Chart

Point and interval estimation, properties of good estimators: unbiasedness, consistency, efficiency, different methods of estimation, maximum likelihood and method of moment estimation, properties of maximum likelihood and method of moment estimators, confidence interval for unknown parameters

Point and interval estimation, properties of good estimators: unbiasedness, consistency, efficiency, different methods of estimation, maximum likelihood and method of moment estimation, properties of maximum likelihood and method of moment estimators, confidence interval for unknown parameters

Statistical hypothesis, simple versus composite hypothesis, critical region, types and size of error type-I and type-II error, power of a test, application of hypothesis testing with known and unknown variances, Chi-square test for testing independence of two-classification criteria, test for correlation 

Excel-One-way ANOVA, Two-way ANOVA, F-test Two sample variance, One sample z test, One sample t-test, Paired t-test, Mann-Whitney U test, Kruskal Wallis test, Chi-Square- F test, Correlation Coefficient- Spearman’s Rank correlation.

Statistical hypothesis, simple versus composite hypothesis, critical region, types and size of error type-I and type-II error, power of a test, application of hypothesis testing with known and unknown variances, Chi-square test for testing independence of two-classification criteria, test for correlation 

Excel-One-way ANOVA, Two-way ANOVA, F-test Two sample variance, One sample z test, One sample t-test, Paired t-test, Mann-Whitney U test, Kruskal Wallis test, Chi-Square- F test, Correlation Coefficient- Spearman’s Rank correlation.

1. Anderson, Sweeny & Williams, Statistics for Business and Economics
2. Goon, A. M, Gupta, M. K, and Dasgupta, B. Fundamentals of Statistics (Volume One, Volume two), The World Press Private Ltd
3. Wayne Winston, Microsoft Excel 2016 - Data Analysis and Business Modeling, Prentice Hall India

1. Nabendu Pal & Sahadeb Sarkar, Statistics Concepts and applications
2. Speigal. M.R.(1992), Theory and Problems of Statistics, McGraw Hill, London
3. Monga,G.S.(1972), Mathematics and Statistics for Economists,Vikas Publications, New Delhi.
4. Yamane, Taro (1975), Mathematics for Economists, PHI, New Delhi.
5. Murray S. Speigel, Statistics, Schaum Series
6. Nabendu Pal & Sahadeb Sarkar, Statistics Concepts and applications

Mid Sem Exam - 50 Marks

CIA 3 - 20 Marks

End Sem Exam - 100 Marks

This course delves into the fundamental aspects of population growth, examining theories and determinants such as fertility, migration, and mortality. Students will use advanced analytical techniques, including life tables and cohort component projection methods. Emphasis is placed on understanding population dynamics within developed and less developed contexts, focusing on India's demographic data sources, policy implications, and the interconnections between population, economy, and sustainable development.

Meaning and scope of demography — Components of population growth and their interdependence — Theories of population — Malthus; Optimum theory of population; Theory of demographic transition.

Meaning and scope of demography — Components of population growth and their interdependence — Theories of population — Malthus; Optimum theory of population; Theory of demographic transition.

Determinants –Fertility, Nuptiality, Migration and Mortality — Techniques — Life table —Construction and uses.

Determinants –Fertility, Nuptiality, Migration and Mortality — Techniques — Life table —Construction and uses.

Population trends — Population explosion — Growth, distribution, Pattern and structure in developed and less developed countries — Determinants and   Demographic effects of sex and age structure, economic and social implications — Demographic Dividend — Demographic Models — Projections — Uses and techniques – Cohort Component Projection technique. 

Population trends — Population explosion — Growth, distribution, Pattern and structure in developed and less developed countries — Determinants and   Demographic effects of sex and age structure, economic and social implications — Demographic Dividend — Demographic Models — Projections — Uses and techniques – Cohort Component Projection technique. 

Study of the census in India— History of Census in India — Nature of information — National Family Health Survey (NFHS) and District Level Household Survey(DLHS) — their relative merits and demerits. 

Study of the census in India— History of Census in India — Nature of information — National Family Health Survey (NFHS) and District Level Household Survey(DLHS) — their relative merits and demerits. 

Population policy in India — Population, economy and environment linkages – population and human development issues – Population and Sustainable Development Goals (SDG); urbanization – Population Aging — Skewed sex ratio in India.

Population policy in India — Population, economy and environment linkages – population and human development issues – Population and Sustainable Development Goals (SDG); urbanization – Population Aging — Skewed sex ratio in India.

Mid-Term

CIA 2

Final Exam

The course aims to deepen students' understanding of how economic theory can be applied to policy problems of the agricultural sector; the course is structured based on three stages of Agricultural Production, namely Pre-production, Production and Post Production, so that the students get an overall understanding of the agricultural issues and policy thereof.

Agricultural Economics: meaning, nature and scope; History and Development; Contribution; Basic Theories

Agricultural Economics: meaning, nature and scope; History and Development; Contribution; Basic Theories

Issues related to Land; Water; Energy; Seed; Fertilizers; Nexus issues; Credit; Indebtedness; Subsidies; Insurance, and Capital formation; Research, Education and Extension.

Issues related to Land; Water; Energy; Seed; Fertilizers; Nexus issues; Credit; Indebtedness; Subsidies; Insurance, and Capital formation; Research, Education and Extension.

Meaning of cropping pattern; changes in cropping pattern; crop production and productivity; changes in the labour and wages dynamics in the agricultural sector; livestock economy Non-farm Sector; Role of Technologies

Meaning of cropping pattern; changes in cropping pattern; crop production and productivity; changes in the labour and wages dynamics in the agricultural sector; livestock economy Non-farm Sector; Role of Technologies

Cost of Cultivation and CACP; Pricing; Income; Issues in Marketing and its Channels; Value Addition and Processing.

Cost of Cultivation and CACP; Pricing; Income; Issues in Marketing and its Channels; Value Addition and Processing.

WTO, Negotiations and Agreements; Trade and International Relations; Problems of Agricultural Subsidies; Patents; Agricultural Exports: Quantitative Restrictions (QRs) and Non-Tariff Barriers

WTO, Negotiations and Agreements; Trade and International Relations; Problems of Agricultural Subsidies; Patents; Agricultural Exports: Quantitative Restrictions (QRs) and Non-Tariff Barriers

Sustainable Agriculture; Climate Change and Issues; Organic, Zero Budget, Climate Smart and Precision Farming; Law and Policies, Best Practices in Agriculture from around the World; Hunger and Malnutrition; Food and Nutritional Security.

Sustainable Agriculture; Climate Change and Issues; Organic, Zero Budget, Climate Smart and Precision Farming; Law and Policies, Best Practices in Agriculture from around the World; Hunger and Malnutrition; Food and Nutritional Security.

Introduction to Crop area and Production Statistics; Agricultural Census; Land Use Statistics; Cost of Cultivation; Livestock Census; National Income Statistics; Foreign Trade; Agricultural Development Index; Labour Statistics; Credit Data Base; State Accounts

Introduction to Crop area and Production Statistics; Agricultural Census; Land Use Statistics; Cost of Cultivation; Livestock Census; National Income Statistics; Foreign Trade; Agricultural Development Index; Labour Statistics; Credit Data Base; State Accounts

1. Ashok Gulati (2000), “Indian Agriculture in an Open Economy: Will it Prosper?” in Ahluwalia and Little (eds.), India’s Economic Reforms and Development: Essays for Manmohan Singh, Oxford University Press.

2. Pingali et al (2019) Indian Food Systems towards 2050: Challenges and Opportunities 

CIA 2- 20 marks based on the criteria specified in the course plan

End semester examination-100 marks 

Course Description and Objectives: This elective provides a political-economy foundation to the MA programme ahead. It lays out the broad themes, concepts, perspectives, and ideologies of contemporary economic development, and alongside provides numerical data and qualitative evidence. This elective also paves the way for further interdisciplinary (sociological, historical, and political) reflections on economic development and the current economic condition in India in terms of land, labour, capital, poverty, inequality, and economic sectors. The elective ends with questions of rights, justice, and aspiration.

The Sustainable Development Goals.  State, Market, and Society.  Competing imaginations of development in our time

The Sustainable Development Goals.  State, Market, and Society.  Competing imaginations of development in our time

Classical and Neoclassical.  Industrial capitalism.  Marx.  The post-war welfare state.  Contemporary neoliberalism

Classical and Neoclassical.  Industrial capitalism.  Marx.  The post-war welfare state.  Contemporary neoliberalism

1.     Caste.  Class.  Gender

1.     Caste.  Class.  Gender

The 1991 Reforms.  Contemporary capitalism in India.  The informal economy.  Labour informality.

The 1991 Reforms.  Contemporary capitalism in India.  The informal economy.  Labour informality.

 Land.  Environment.  Agriculture sector.  Industry sector.  Emerging sectors

 Land.  Environment.  Agriculture sector.  Industry sector.  Emerging sectors

Poverty and inequality.  Political economy of human development in India.  

Poverty and inequality.  Political economy of human development in India.  

Rights based approach.  Aspiration.  Justice, human rights, and other institutions

Rights based approach.  Aspiration.  Justice, human rights, and other institutions

Pranab Bardhan  The Political Economy of Development in India

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

Sukhdeo Thorat and Newman, K.S. Blocked by Caste: Economic Discrimination in Modern India

R Nagaraj  From Intermediate Regime to Crony Capitalism

Shashi Ratnakar Singh Political Economy of Land Acquisition and Resource Development in India

Pranab Bardhan  Economic Reforms, Poverty, and Inequality in China and India

Sakiko Fukuda-Parr Human Rights and Human Development

CIA 2: Midsemester Examination - 25%

CIA 3: Test or Assignment - 10%

End Semester Examination - 50%

Attendance - 5%

The objective of the course is to appoint students with open-access software for data analysis. This course covers the usage of Python for data analysis. Students will be appointed with hands-on training on data processing, data visualization, statistics and econometrics analysis, and interpretation.

Introduction to business analytics, Types of Business Analytics solution, Examples, Components of Business Analytics, Business Analytics Process, Types Analytics problems, Supervised learning, Unsupervised learning, Introduction to Python, Python installation, arithmetic functions

Introduction to business analytics, Types of Business Analytics solution, Examples, Components of Business Analytics, Business Analytics Process, Types Analytics problems, Supervised learning, Unsupervised learning, Introduction to Python, Python installation, arithmetic functions

Statistics, analytics, data set, measures of central tendency, Measure of Variation or Spread, graph-pie, bar, histogram, box plot, graph by groups, Missing value replenishment, merging data files, Appending the data files, Transformation or normalization, Random Sampling, data visualization, pair plot.

Statistics, analytics, data set, measures of central tendency, Measure of Variation or Spread, graph-pie, bar, histogram, box plot, graph by groups, Missing value replenishment, merging data files, Appending the data files, Transformation or normalization, Random Sampling, data visualization, pair plot.

Basic concepts of hypothesis testing, one-sample t-test, To Test Two Means are Equal, two-sample t-test, Paired t-test, Normality test-1. Quantile – Quantile (Q- Q) plot, 2. Shapiro – Wilk test, ANOVA, Cross Tabulation, Chi-Square Test, Correlation.

Basic concepts of hypothesis testing, one-sample t-test, To Test Two Means are Equal, two-sample t-test, Paired t-test, Normality test-1. Quantile – Quantile (Q- Q) plot, 2. Shapiro – Wilk test, ANOVA, Cross Tabulation, Chi-Square Test, Correlation.

Simple Linear Regression Illustration, Multiple Linear Regression, Residual Analysis, Regression with dummy variables, Logistic Regression

Simple Linear Regression Illustration, Multiple Linear Regression, Residual Analysis, Regression with dummy variables, Logistic Regression

Introduction to multivariate analysis, Latent variable Models; Linear Single Factor model; General linear factor model; Choice of factors; Rotations; Factor Analysis for Binary Data; Factor analysis for ordered categorical data; methods in cluster analysis; graphical representations; distance matrix; clustering variables; summary.

Introduction to multivariate analysis, Latent variable Models; Linear Single Factor model; General linear factor model; Choice of factors; Rotations; Factor Analysis for Binary Data; Factor analysis for ordered categorical data; methods in cluster analysis; graphical representations; distance matrix; clustering variables; summary.

Introduction to Statistical Learning with Applications in R - James, Witten, Hastie & Tibshirani

Elements of Statistical Learning: Data Mining, Inference & Prediction - Hastie, Tibshirani & Friedman

Statistical Learning from a Regression Perspective - Berk

Pattern Recognition and Machine Learning - Bishop

1.     Knowledge of the famous thinkers and their thoughts that form the basis of current practices and policies.

2.     Understand that knowledge is created by the successive building of ideas on earlier ones.

3.     Understanding of how most of the theoretical concepts in economics and policy today have their roots in ideas born centuries before.

Introductory Indian and Chinese Economic thought – Chanakya on tax administration, Chinese on Civil Administration and Agriculture. Mercantilist thinking: Factors responsible for the growth of Mercantilist thought and major ideas.

Physiocracy – factors responsible for the growth of Physiocracy, major economic ideas with special reference to Quesnay (origin of the circular flow and macroeconomic identity – Economic Table)

Introductory Indian and Chinese Economic thought – Chanakya on tax administration, Chinese on Civil Administration and Agriculture. Mercantilist thinking: Factors responsible for the growth of Mercantilist thought and major ideas.

Physiocracy – factors responsible for the growth of Physiocracy, major economic ideas with special reference to Quesnay (origin of the circular flow and macroeconomic identity – Economic Table)

Classical Thought: Smith on value, division of labour, public finance, institutionalism. Malthus on population and theory of gluts. Ricardo on rent, value, and comparative advantage. Mill – fundamental doctrines, including static state. Frederick List – German criticism of classism.

Classical Thought: Smith on value, division of labour, public finance, institutionalism. Malthus on population and theory of gluts. Ricardo on rent, value, and comparative advantage. Mill – fundamental doctrines, including static state. Frederick List – German criticism of classism.

Marx (historical materialism, dialectics, surplus value, capitalist appropriation), post Marxists. Fabian socialists - Robert Owen

Marx (historical materialism, dialectics, surplus value, capitalist appropriation), post Marxists. Fabian socialists - Robert Owen

Marginalist school: Bohm Bawerk and the origins of marginalism. Walras: general equilibrium. Marshall: economic statics and notion of equilibrium. Edgeworth: 2 x 2 model.

Marginalist school: Bohm Bawerk and the origins of marginalism. Walras: general equilibrium. Marshall: economic statics and notion of equilibrium. Edgeworth: 2 x 2 model.

Modern economic thinkers-Keynes - Monetary equation, General Theory, liquidity preference- Schumpeter - creative destruction, business cycles; Market Forms: E F Chamberlain and Joan Robinson; Rawls - justice, Sen - capability approach.

Modern economic thinkers-Keynes - Monetary equation, General Theory, liquidity preference- Schumpeter - creative destruction, business cycles; Market Forms: E F Chamberlain and Joan Robinson; Rawls - justice, Sen - capability approach.

2.  Haney, Lewis H. (1977). History of Economic Thought. New Delhi: Surjeet Publications.

3.  Gide, Charles and Rist, Charles, (2007, Indian Reprint). A History of Economic Doctrines. New Delhi: Surjeet Publications

2.     Roll, Eric. (1940). A History of Economic Thought. Feber and Feber. 

3.     Screpanti, Ernesto &Zamagni, Stefano. (2006). An Outline of the History of Economic Thought. First Indian Edition, Oxford University Press.  

4. Taylor, Overton, H. A. (1960). A History of Economic Thought. McGraw – Hill

CIA 2 (MSE): 25%

CIA 3: 10%

ESE: 50%

Attendance: 5%

Financial economics is the branch of economics concerned with the working of financial markets, such as the stock market and the finances of companies. The course focuses equally on the theoretical framework as well as the practical aspects of the functioning of financial markets. The course is intended to provide an in-depth understanding of the operational issues of the capital and debt market network along with its regulatory framework.

Return and Risk: Historical and Expected; Time Value of Money: Future and Present Value Methods; Newman – Morgenstern Utility Index and Application; Buying and Selling Securities: Oder Size, Time Limit, Types of Orders, Margin Accounts; Financial Markets: Equity Market, Debt Market, Money Market and Derivative Market; Mutual Funds: Open-ended Schemes Versus Closed-ended Schemes; Regulations of Financial Markets in India.

Return and Risk: Historical and Expected; Time Value of Money: Future and Present Value Methods; Newman – Morgenstern Utility Index and Application; Buying and Selling Securities: Oder Size, Time Limit, Types of Orders, Margin Accounts; Financial Markets: Equity Market, Debt Market, Money Market and Derivative Market; Mutual Funds: Open-ended Schemes Versus Closed-ended Schemes; Regulations of Financial Markets in India.

Fama’s Formulation of Efficient Market Model; Security Price and Random Walk; Testing for Market Efficiency: Event Studies, Looking for Pattern, Examining the Performance; Criticisms and Empirics; Introduction to Behavioral Finance.

Fama’s Formulation of Efficient Market Model; Security Price and Random Walk; Testing for Market Efficiency: Event Studies, Looking for Pattern, Examining the Performance; Criticisms and Empirics; Introduction to Behavioral Finance.

Efficient Set Theorem: Feasible Set, Selection of Optimal Portfolio; Concavity of Efficient Set; The Market Model: Random Error Terms, Graphical Representation, Beta, Actual Returns; Diversification; Markowitz’s Portfolio Approach; New Portfolio Theory; Capital Asset Pricing Model; Arbitrage Pricing Theory; Multi-factor Model; Equity Premium Puzzle; Portfolio Revision.

Efficient Set Theorem: Feasible Set, Selection of Optimal Portfolio; Concavity of Efficient Set; The Market Model: Random Error Terms, Graphical Representation, Beta, Actual Returns; Diversification; Markowitz’s Portfolio Approach; New Portfolio Theory; Capital Asset Pricing Model; Arbitrage Pricing Theory; Multi-factor Model; Equity Premium Puzzle; Portfolio Revision.

Bond Attributes; Bond Prices; Bond Pricing Theorems; Bond Yields: Current Yield, Yield to Maturity, Yield to Call, Realized Yield to Maturity; Risks in Bonds; The Yield Curve; Determinants of Yield Spreads; Bond Portfolio Management: The Passive and Active Strategies. 

Bond Attributes; Bond Prices; Bond Pricing Theorems; Bond Yields: Current Yield, Yield to Maturity, Yield to Call, Realized Yield to Maturity; Risks in Bonds; The Yield Curve; Determinants of Yield Spreads; Bond Portfolio Management: The Passive and Active Strategies. 

Types of Equity Shares; Free Float Market Capitalization: Sensex and Nifty; Valuation of Preference Shares; Balance Sheet Valuation: Book Value, Liquidation Value, Tobin’s q; Dividend Discount Model: Single and Multi-Period Valuation Models, Zero Growth Model, Constant Growth Model, Two-Stage Growth Model, H-Model; Free Cash Flow Model; Earnings Multiplier Approach; Earnings-Price Ratio, Expected Return and Growth; Forecasting the Aggregate Stock Market Returns.

Types of Equity Shares; Free Float Market Capitalization: Sensex and Nifty; Valuation of Preference Shares; Balance Sheet Valuation: Book Value, Liquidation Value, Tobin’s q; Dividend Discount Model: Single and Multi-Period Valuation Models, Zero Growth Model, Constant Growth Model, Two-Stage Growth Model, H-Model; Free Cash Flow Model; Earnings Multiplier Approach; Earnings-Price Ratio, Expected Return and Growth; Forecasting the Aggregate Stock Market Returns.

Fundamental Analysis - Top-Down versus Bottom-up Forecasting; Probabilistic Forecasting; Econometric Models; Company Background; Review of Accounts Statements; Ratio Analysis.

Technical Analysis - Dow Theory and its Tenets; Charts: Point and Figure Chart, Line Chart, Candlestick Chart, Bar Chart; Chart Patterns; Trend Analysis; Moving Averages; Limitations of Technical Analysis.  

Fundamental Analysis - Top-Down versus Bottom-up Forecasting; Probabilistic Forecasting; Econometric Models; Company Background; Review of Accounts Statements; Ratio Analysis.

Technical Analysis - Dow Theory and its Tenets; Charts: Point and Figure Chart, Line Chart, Candlestick Chart, Bar Chart; Chart Patterns; Trend Analysis; Moving Averages; Limitations of Technical Analysis.  

Options and Futures; Pricing of Options: Black-Scholes Model and Binomial Option, Pricing Model; Pricing of Futures. 

Options and Futures; Pricing of Options: Black-Scholes Model and Binomial Option, Pricing Model; Pricing of Futures. 

Prasanna Chandra (2017), Investment Analysis and Portfolio Management,  Tata McGraw Hill Education Private Limited, New Delhi, 5th Edition.

William Sharpe, Gordon Alexander and Jeffery Bailey (2003), Investments, Prentice Hall of India, 6th Edition.

1. Burton G. Malkiel, A Random Walk Down Wall Street, W.W. Norton & Company, 2003.
2. David G. Luenberger, Investment Science, Oxford University Press, USA, 1997.
3. Hull, John C., Options, Futures and Other Derivatives, Pearson Education, 6^th edition, 2005.
4. Richard A. Brealey and Stewart C. Myers, Principles of Corporate Finance, McGraw-Hill, 7th edition, 2002.
5. Stephen A. Ross, Randolph W. Westerfield and Bradford D. Jordan, Fundamentals of Corporate Finance. McGraw-Hill, 7^th edition, 2005.
6. Thomas E. Copeland, J. Fred Weston and Kuldeep Shastri, Financial Theory and Corporate Policy, Prentice Hall, 4^th edition, 2003.

The main objectives of the paper are to train the students to grasp the use of mathematical techniques and operations to analyse economic problems and to initiate students into various economic concepts which are amenable to mathematical treatment.

Equilibrium analysis in Economics - Definition of equilibrium - Solution of equilibrium - Single vs. multiple equilibrium - Partial vs. general equilibrium; Change in market equilibrium due to specific and ad-valorem tax and subsidy, computation of dead-weight loss in market equilibrium; Application: single vs. multiple commodity markets; Linear Models and Matrix Algebra - Matrix algebra - Determinants - Inverse -  Cramer’s rule - Quadratic Forms Applications: Input-Output Static Model using matrix algebra- determination of gross output, Simon-Hawkins Condition;Application of Nonlinear systems- Jacobian Determinant and Comparative static analysis-IS-LM Model

Equilibrium analysis in Economics - Definition of equilibrium - Solution of equilibrium - Single vs. multiple equilibrium - Partial vs. general equilibrium; Change in market equilibrium due to specific and ad-valorem tax and subsidy, computation of dead-weight loss in market equilibrium; Application: single vs. multiple commodity markets; Linear Models and Matrix Algebra - Matrix algebra - Determinants - Inverse -  Cramer’s rule - Quadratic Forms Applications: Input-Output Static Model using matrix algebra- determination of gross output, Simon-Hawkins Condition;Application of Nonlinear systems- Jacobian Determinant and Comparative static analysis-IS-LM Model

Areas under curve -Derivation of Marginal Revenue to Total Revenue, Marginal Cost to Total Cost, Investment and Time Path; Definite and indefinite Integration - Application - Consumer Surplus and Producer Surplus

Areas under curve -Derivation of Marginal Revenue to Total Revenue, Marginal Cost to Total Cost, Investment and Time Path; Definite and indefinite Integration - Application - Consumer Surplus and Producer Surplus

Concavity, Convexity, Quasiconcavity, Quasiconvexity Optimization of functions of one variable - Main concepts - First-order conditions - Second-order conditions (sufficient conditions) Applications: Profit maximization (one product) under: - perfect competition - derivation of firm’s supply curve and industry (aggregate) supply curve under perfect competition-identical costs and non-identical costs; monopoly. – Monopolistic – Oligopoly (Collusive and Non-Collusive Oligopoly Models - Joint profit maximization under cartel; Cournot model, Stackelberg model) Optimization of functions of more than one variable - The differential version of optimization conditions - Extreme values of function of two variables and comparative static aspect of optimization Application: Profit maximization (two products) under perfect competition - extreme values of function of n variables. Applications: i) Monopolist selling in segmented markets

Concavity, Convexity, Quasiconcavity, Quasiconvexity Optimization of functions of one variable - Main concepts - First-order conditions - Second-order conditions (sufficient conditions) Applications: Profit maximization (one product) under: - perfect competition - derivation of firm’s supply curve and industry (aggregate) supply curve under perfect competition-identical costs and non-identical costs; monopoly. – Monopolistic – Oligopoly (Collusive and Non-Collusive Oligopoly Models - Joint profit maximization under cartel; Cournot model, Stackelberg model) Optimization of functions of more than one variable - The differential version of optimization conditions - Extreme values of function of two variables and comparative static aspect of optimization Application: Profit maximization (two products) under perfect competition - extreme values of function of n variables. Applications: i) Monopolist selling in segmented markets

Two variables, one constraint-Lagrange-multiplier method-First order conditions-Second order conditions, Hessian Border Condition; Applications: Utility maximization; Production Functions and Its applications

Two variables, one constraint-Lagrange-multiplier method-First order conditions-Second order conditions, Hessian Border Condition; Applications: Utility maximization; Production Functions and Its applications

First-order linear difference equations - Second-order difference equations;Samuelson multiplier-acceleration interaction model; First-order differential equations - Second-order differential equations Application: Cobweb Market Model, Dynamic stability of Market price

First-order linear difference equations - Second-order difference equations;Samuelson multiplier-acceleration interaction model; First-order differential equations - Second-order differential equations Application: Cobweb Market Model, Dynamic stability of Market price

2.       Henderson, J.M and  and Quandt, R.E. : Microeconomic Theory-A Mathematical Approach

2.        Simon, C. and L. Blume (2019), Mathematics for Economists, Viva-Norton, New Delhi

Mid Sem Exam - 50 Marks

CIA 3 -20 Marks

End Sem Exam - 100 Marks

The course is designed to impart the basic knowledge of the tools and methods ineconometrics. This course is expected to improve student’s ability to understand economics through the approaches in econometrics. The course intends to provide a thorough and sound understanding of the essential theoretical base, an introduction to regression modelling and the broad applications of the subject in the study of Economics.

What is Econometrics? Steps in Econometric Analysis; Specification of Econometric Model and Assumptions; Basic Concepts of Estimation and Desirable Properties of Estimators; Data for Econometric Analysis.

What is Econometrics? Steps in Econometric Analysis; Specification of Econometric Model and Assumptions; Basic Concepts of Estimation and Desirable Properties of Estimators; Data for Econometric Analysis.

Definition of Simple Linear Regression Model (SLRM); Ordinary Least-squares (OLS)Estimation of SLRM; Properties OLS Estimators; Statistical Inference in SLRM; Measuring Goodness of Fit; Analysis of Variance on OLS Regression; Interpretation of Regression Results

Definition of Simple Linear Regression Model (SLRM); Ordinary Least-squares (OLS)Estimation of SLRM; Properties OLS Estimators; Statistical Inference in SLRM; Measuring Goodness of Fit; Analysis of Variance on OLS Regression; Interpretation of Regression Results

 Definition of Multiple Linear Regression, Regression Model; Properties of MultipleRegression Coefficients; Measuring Goodness of Fit; Problems of Inference in MLRM; Interpretation of Regression Coefficients.

 Definition of Multiple Linear Regression, Regression Model; Properties of MultipleRegression Coefficients; Measuring Goodness of Fit; Problems of Inference in MLRM; Interpretation of Regression Coefficients.

Consequences and detection of multicollinearity, Heteroskedasticity, and autocorrelation; remedial measures. Model Specification Error and detection.

Consequences and detection of multicollinearity, Heteroskedasticity, and autocorrelation; remedial measures. Model Specification Error and detection.

Regression on qualitative and quantitative variables, dummy variable trap, ANOVA and ANCOVA Models, structural stability of regression models, Chow test, piecewiselinear regression model; Models with Dummy dependent variable, Linear Probability Model (LPM), limitation of LPM, Logit models.

Regression on qualitative and quantitative variables, dummy variable trap, ANOVA and ANCOVA Models, structural stability of regression models, Chow test, piecewiselinear regression model; Models with Dummy dependent variable, Linear Probability Model (LPM), limitation of LPM, Logit models.

Role of Lagin Economics, The reasons for lag, Estimation of Distributed lag models, The Koyck Approach to Distributed Lag models, Estimation of Autoregressive Models

Role of Lagin Economics, The reasons for lag, Estimation of Distributed lag models, The Koyck Approach to Distributed Lag models, Estimation of Autoregressive Models

1) A Koutsoyiannis (2001), Theory of Econometrics, Palgrave Macmillan, 2nd Edition.

2) Damodar N Gujarati and D C Porter (2009), Basic Econometrics, McGraw Hill Publication, 5th edition.

3) Wooldridge M Jeffrey (2016), Introductory Econometrics: A Modern Approach, Cengage Learning, 6th Edition.

Christopher Dougherty (2011)Introduction to Econometrics. 4th Edition. Oxford

Bhaumik, S.K. (2015) Principles of Econometrics: A Modern Approach Using EViews, Oxford University Press.

Mid Sem Exam - 50 Marks

CIA 3 - 20 Marks

End Sem Exam - 100 Marks

This paper is designed to prepare the students with training in theoretical and practical aspects of Banking and Insurance Science. This paper develops the caliber of the students to understand the banking procedure with its command on money inflow in the market and thereby be more adept in taking up banking sector-related careers. The paper also delves deeply into the working and it intends to equip them to work in life and non-life insurance companies (designing insurance products, valuing financial contracts and investing funds); consultancy (offering advice to occupational pension funds and employee benefit plans); government service (supervising insurance companies and advising on the national insurance)

Contingent Consumption; Utility Functions and Probabilities; Expected Utility Theory in Insurance Market; Risk pooling; risk spreading; risk transfer; Quality Choice – Choosing the Quality; Moral Hazard and Adverse Selection in Banking and Insurance Theories; Signaling - The Sheepskin Effect; Incentives; Asymmetric Information - Monitoring Costs Example: The Grameen Bank; Systems Competition; The Problem of Complements; Relationships among Complementors; Markets with Network Externalities.

Contingent Consumption; Utility Functions and Probabilities; Expected Utility Theory in Insurance Market; Risk pooling; risk spreading; risk transfer; Quality Choice – Choosing the Quality; Moral Hazard and Adverse Selection in Banking and Insurance Theories; Signaling - The Sheepskin Effect; Incentives; Asymmetric Information - Monitoring Costs Example: The Grameen Bank; Systems Competition; The Problem of Complements; Relationships among Complementors; Markets with Network Externalities.

The Monetary Policy of RBI – Bank Nationalisation and Credit Planning; Monetary Targeting; Multiple Indicator Approach and Liquidity Adjustment Facilities (LAFs); Theoretical Basis of Banking Operations; Liabilities of Banks – deposits, non-deposit resources, other liabilities; Banking Assets – Investments, Bank Credit; Concept of Lending and Portfolio Choice and Aspects; Banking Innovations; Risk Management in Banking; Non-Bank Financial Intermediaries (NBFIs) and Statutory Financial Organisation – Small Savings, Provident Funds and Pension Funds; NBFIs and Miscellaneous Financial Organisation – Loan Companies, Investment Companies, Hire-Purchase Finance; Lease Finance; Housing Finance.

The Monetary Policy of RBI – Bank Nationalisation and Credit Planning; Monetary Targeting; Multiple Indicator Approach and Liquidity Adjustment Facilities (LAFs); Theoretical Basis of Banking Operations; Liabilities of Banks – deposits, non-deposit resources, other liabilities; Banking Assets – Investments, Bank Credit; Concept of Lending and Portfolio Choice and Aspects; Banking Innovations; Risk Management in Banking; Non-Bank Financial Intermediaries (NBFIs) and Statutory Financial Organisation – Small Savings, Provident Funds and Pension Funds; NBFIs and Miscellaneous Financial Organisation – Loan Companies, Investment Companies, Hire-Purchase Finance; Lease Finance; Housing Finance.

Types of life insurance Contracts: Term and Cash Insurance; The Level Premium Concept; Life Insurance Products; Types of Term Insurance; Whole Life Insurance; Variation of Whole Life Insurance; Indeterminate Premium Whole Life Insurance; General Classifications of Life Insurance; Computation of Life Insurance Premium; Benefits-Certain and Benefits-Uncertain contracts.

Types of life insurance Contracts: Term and Cash Insurance; The Level Premium Concept; Life Insurance Products; Types of Term Insurance; Whole Life Insurance; Variation of Whole Life Insurance; Indeterminate Premium Whole Life Insurance; General Classifications of Life Insurance; Computation of Life Insurance Premium; Benefits-Certain and Benefits-Uncertain contracts.

Individual Health and Disability Income Insurance; Types of Individual Health Insurance Coverage: Hospital (Surgical Insurance, Major Medical Insurance); Disability Income Insurance; Need for Disability Income Insurance: Short Term Versus Long Term Disability Coverage; Health Insurance for the Elderly; Long Term Care Insurance; Employee Benefits: Group, Life and Health Insurance; Group Insurance: Group Life Insurance Plans, Group Health Insurance Plans, Group Disability - Income Insurance.

Individual Health and Disability Income Insurance; Types of Individual Health Insurance Coverage: Hospital (Surgical Insurance, Major Medical Insurance); Disability Income Insurance; Need for Disability Income Insurance: Short Term Versus Long Term Disability Coverage; Health Insurance for the Elderly; Long Term Care Insurance; Employee Benefits: Group, Life and Health Insurance; Group Insurance: Group Life Insurance Plans, Group Health Insurance Plans, Group Disability - Income Insurance.

Insurance Company Operations: Rate Making, Underwriting, Production, Claim Settlement, Reinsurance; Life Insurance Industry in India; Government Insurance Units; Private Players; Emerging Scenario; Marketing Systems; Distribution Channels: Agents and Brokers; Changes in Distribution System; Government regulation of Insurance; Rationale of Regulation; Function of IRDA, IITDA Regulations; Issues in Insurance Regulation.

Insurance Company Operations: Rate Making, Underwriting, Production, Claim Settlement, Reinsurance; Life Insurance Industry in India; Government Insurance Units; Private Players; Emerging Scenario; Marketing Systems; Distribution Channels: Agents and Brokers; Changes in Distribution System; Government regulation of Insurance; Rationale of Regulation; Function of IRDA, IITDA Regulations; Issues in Insurance Regulation.

CIA II (Mid Semester): Out of 50 Marks

CIA III: Out of 20 Marks

End Semester Examination: Out of 100 Marks

This course intends to provide knowledge to the students on the basic issues such as productivity, efficiency, capacity utilization, and debates involved in the industrial development of India. Industrial Economics is to develop the students’ comprehension of both industry models and their links with practice with a special accent on government policy. The objective is to provide thorough knowledge about the economics of the industry in a cogent and analytical manner, particularly in the Indian context.

Market structure – conduct performance paradigm – Sources of monopoly power-Effects of monopoly on social welfare- Natural monopoly; Price and non-price regulation of natural monopoly-Anti monopoly policy- Price Discriminating Monopoly-Types of price discrimination: general overview- Welfare effects of price discrimination- Market concentration and monopoly power – Causes and measurement – Market concentration and performance – Extent of market concentration in India – Recent trends – The Firm: Emergence and its objectives - Non -profit maximizing models- Case studies on Market concentration and Natural Monopoly

Market structure – conduct performance paradigm – Sources of monopoly power-Effects of monopoly on social welfare- Natural monopoly; Price and non-price regulation of natural monopoly-Anti monopoly policy- Price Discriminating Monopoly-Types of price discrimination: general overview- Welfare effects of price discrimination- Market concentration and monopoly power – Causes and measurement – Market concentration and performance – Extent of market concentration in India – Recent trends – The Firm: Emergence and its objectives - Non -profit maximizing models- Case studies on Market concentration and Natural Monopoly

Mergers and take over: Concepts, motives and consequences- Cross border M & A- Diversification-Vertical Integration: Nature and extent of vertical integration, monopolistic motives for integration – Case studies on M&A.

Mergers and take over: Concepts, motives and consequences- Cross border M & A- Diversification-Vertical Integration: Nature and extent of vertical integration, monopolistic motives for integration – Case studies on M&A.

Sources (internal and external) – Financial Statements – Analysis of financial ratios and their interrelatedness, Problems of financial analysis- General considerations for pricing decisions-Cost plus pricing, Incremental cost pricing, Acceptance pricing, going rate pricing and transfer pricing; Predatory pricing - Public policy towards predatory pricing- Profitability and its determinants

Sources (internal and external) – Financial Statements – Analysis of financial ratios and their interrelatedness, Problems of financial analysis- General considerations for pricing decisions-Cost plus pricing, Incremental cost pricing, Acceptance pricing, going rate pricing and transfer pricing; Predatory pricing - Public policy towards predatory pricing- Profitability and its determinants

Industrial Productivity- norms and measurement;Factors affecting productivity and capacity utilization; Importance of productivity in the competitive environment; Measures required for improving productivity and efficiency- Case studies on Productivity.

Industrial Productivity- norms and measurement;Factors affecting productivity and capacity utilization; Importance of productivity in the competitive environment; Measures required for improving productivity and efficiency- Case studies on Productivity.

The behavioural theory of the firm; Transaction cost theory; the property Right Theory; The Agency Theory and the Resource Based Theory- Factors Influencing Location of Industries. -Theories of Industrial Location, Weber, Sargent Florence; Need for Balanced Regional Development of Industries - Industrial location trends in India.

The behavioural theory of the firm; Transaction cost theory; the property Right Theory; The Agency Theory and the Resource Based Theory- Factors Influencing Location of Industries. -Theories of Industrial Location, Weber, Sargent Florence; Need for Balanced Regional Development of Industries - Industrial location trends in India.

Industrial Imbalance Causes and Measures-Need for Balanced Regional Development of Industries - Industrial location trends in India - Need for govt intervention in industry- Ways of govt regulation-Industrial regulations in India.

Industrial Imbalance Causes and Measures-Need for Balanced Regional Development of Industries - Industrial location trends in India - Need for govt intervention in industry- Ways of govt regulation-Industrial regulations in India.

CIA II (Mid Semester Examination) : 50 Marks

CIA III : 20 Marks

End Semester Examination : 100 Marks

This course aims to provide knowledge of the fundamental differences between genders from the economic, biological, anthropological, psychological and feminist perspectives. It also provides the necessary analytical tools to analyze differences in bargaining positions of men and women within households alongside explaining consequences of marriage and declining fertility rates on women’s education, career choices and wellbeing. The course also examines ways in which gender interacts in the labour market realm in addition to describing the position of women in credit markets and entrepreneurial activities.

Gender differences in Economic outcomes-Debates on Gender differences: Nature vs Nurture debate- Economic perspectives on Gender differences- Critique of the Economic approach- Alternative approaches: Evolutionary, Feminist and Postmodern perspectives- Men and women in economic situations: Differences in Altruism, Risk aversion and Competitiveness- Experimental set-ups using Ultimatum games, Prisoners dilemma and Dictator games- Gender differences in consumption and investment patterns.

Gender differences in Economic outcomes-Debates on Gender differences: Nature vs Nurture debate- Economic perspectives on Gender differences- Critique of the Economic approach- Alternative approaches: Evolutionary, Feminist and Postmodern perspectives- Men and women in economic situations: Differences in Altruism, Risk aversion and Competitiveness- Experimental set-ups using Ultimatum games, Prisoners dilemma and Dictator games- Gender differences in consumption and investment patterns.

Women’s Unpaid work: Theories of unpaid work- Economic, Marxist and Feminist perspectives- Estimation of unpaid work: Methods and challenges- Gender differences in time use patterns: Insights from Time use survey India 2019- Women in Paid work- Occupational Segregation in labour markets- Female labour force participation and its determinants- Gender wage gaps in labour markets in India: Estimation and Empirical results- Gender Discrimination in Labour Markets: The Taste for Discrimination Model- Statistical discrimination Model- The Efficiency Wage theory of Discrimination- Differing Standards for Jobs based on Gender- Credit markets and women's wellbeing: Gendered distribution of wealth and asset ownership- gender discrimination in credit markets-implications on women's entrepreneurship.

Women’s Unpaid work: Theories of unpaid work- Economic, Marxist and Feminist perspectives- Estimation of unpaid work: Methods and challenges- Gender differences in time use patterns: Insights from Time use survey India 2019- Women in Paid work- Occupational Segregation in labour markets- Female labour force participation and its determinants- Gender wage gaps in labour markets in India: Estimation and Empirical results- Gender Discrimination in Labour Markets: The Taste for Discrimination Model- Statistical discrimination Model- The Efficiency Wage theory of Discrimination- Differing Standards for Jobs based on Gender- Credit markets and women's wellbeing: Gendered distribution of wealth and asset ownership- gender discrimination in credit markets-implications on women's entrepreneurship.

Overview of marriage and family structure; The Economics of marriage: Production, specialization and gains to marriage, Supply and demand model of marriage- Forms of marital arrangements and why it exists: Polygyny, Polyandry and Monogamy- Marriage and the earnings of men- Human capital consequences of marriage on women- Divorce and its consequences- Decision making by women: Factors affecting decision making by women, property rights, access to and control over economic resources and assets; Balance of power in households: Unitary models- Nash bargaining model-Non-cooperative bargaining model- Culture and perpetuation of patriarchy- Marxists explanations for emergence of patriarchy.

Overview of marriage and family structure; The Economics of marriage: Production, specialization and gains to marriage, Supply and demand model of marriage- Forms of marital arrangements and why it exists: Polygyny, Polyandry and Monogamy- Marriage and the earnings of men- Human capital consequences of marriage on women- Divorce and its consequences- Decision making by women: Factors affecting decision making by women, property rights, access to and control over economic resources and assets; Balance of power in households: Unitary models- Nash bargaining model-Non-cooperative bargaining model- Culture and perpetuation of patriarchy- Marxists explanations for emergence of patriarchy.

Gendered dimensions of Poverty: Feminisation of poverty from a multi-dimensional approach-Role of microfinance in poverty alleviation and women empowerment- Intersections of Feminism with Environment and Ecology-Globalisation and its impact on women: Migration and vulnerabilities- Trafficking and sex trade- Informal work and labour standards- Feminist Public Finance: Need for Gender Budgeting- Issues with Gender budgeting in Karnataka and India- Income transfers and living wage proposals- Women empowerment: Conceptual debates- Critical evaluation of women empowerment programs in India- Fertility choices and consequences: Fertility choices in developed and developing countries- Economic development and fertility- Female autonomy in fertility choices- Consequences of decline in fertility rates: The problem of “missing women’- Son preference and sex ratios.

Gendered dimensions of Poverty: Feminisation of poverty from a multi-dimensional approach-Role of microfinance in poverty alleviation and women empowerment- Intersections of Feminism with Environment and Ecology-Globalisation and its impact on women: Migration and vulnerabilities- Trafficking and sex trade- Informal work and labour standards- Feminist Public Finance: Need for Gender Budgeting- Issues with Gender budgeting in Karnataka and India- Income transfers and living wage proposals- Women empowerment: Conceptual debates- Critical evaluation of women empowerment programs in India- Fertility choices and consequences: Fertility choices in developed and developing countries- Economic development and fertility- Female autonomy in fertility choices- Consequences of decline in fertility rates: The problem of “missing women’- Son preference and sex ratios.

Kabeer, N. (1994). Reversed realities: Gender hierarchies in development thought. Verso.

Jacobsen, J. P. (2020). Advanced introduction to feminist economics. Edward Elgar Publishing.

Kabeer, N. (1994). Reversed realities: Gender hierarchies in development thought. Verso.

Kabeer, N. (2003). Gender Mainstreaming in Poverty Eradication and the Millennium Development Goals: A handbook for policy-makers and other stakeholders. Commonwealth Secretariat.

Agarwal, B., & Bina, A. (1994). A field of one's own: Gender and land rights in South Asia (No. 58). Cambridge University Press.

Agarwal, B. (2000). Conceptualising environmental collective action: why gender matters. Cambridge journal of economics, 24(3), 283-310.

CIA 2- 50 marks based on the mid-semester examination

CIA 3- 20 marks based on the criteria specified in the course plan

End semester examination-100 marks

The objective of the course is to appoint students with open-access software for data analysis. This course covers the usage of Python for data analysis. Students will be appointed with hands-on training on data processing, data visualization, statistics and econometrics analysis, and interpretation.

Introduction to business analytics, Types of Business Analytics solution, Examples, Components of Business Analytics, Business Analytics Process, Types Analytics problems, Supervised learning, Unsupervised learning, Introduction to Python, Python installation, arithmetic functions

Introduction to business analytics, Types of Business Analytics solution, Examples, Components of Business Analytics, Business Analytics Process, Types Analytics problems, Supervised learning, Unsupervised learning, Introduction to Python, Python installation, arithmetic functions

Statistics, analytics, data set, measures of central tendency, Measure of Variation or Spread, graph-pie, bar, histogram, box plot, graph by groups, Missing value replenishment, merging data files, Appending the data files, Transformation or normalization, Random Sampling, data visualization, pair plot.

Statistics, analytics, data set, measures of central tendency, Measure of Variation or Spread, graph-pie, bar, histogram, box plot, graph by groups, Missing value replenishment, merging data files, Appending the data files, Transformation or normalization, Random Sampling, data visualization, pair plot.

Basic concepts of hypothesis testing, one-sample t-test, To Test Two Means are Equal, two-sample t-test, Paired t-test, Normality test-1. Quantile – Quantile (Q- Q) plot, 2. Shapiro – Wilk test, ANOVA, Cross Tabulation, Chi-Square Test, Correlation.

Basic concepts of hypothesis testing, one-sample t-test, To Test Two Means are Equal, two-sample t-test, Paired t-test, Normality test-1. Quantile – Quantile (Q- Q) plot, 2. Shapiro – Wilk test, ANOVA, Cross Tabulation, Chi-Square Test, Correlation.

Simple Linear Regression Illustration, Multiple Linear Regression, Residual Analysis, Regression with dummy variables, Logistic Regression

Simple Linear Regression Illustration, Multiple Linear Regression, Residual Analysis, Regression with dummy variables, Logistic Regression

Introduction to multivariate analysis, Latent variable Models; Linear Single Factor model; General linear factor model; Choice of factors; Rotations; Factor Analysis for Binary Data; Factor analysis for ordered categorical data; methods in cluster analysis; graphical representations; distance matrix; clustering variables; summary.

Introduction to multivariate analysis, Latent variable Models; Linear Single Factor model; General linear factor model; Choice of factors; Rotations; Factor Analysis for Binary Data; Factor analysis for ordered categorical data; methods in cluster analysis; graphical representations; distance matrix; clustering variables; summary.

Introduction to Statistical Learning with Applications in R - James, Witten, Hastie & Tibshirani

Elements of Statistical Learning: Data Mining, Inference & Prediction - Hastie, Tibshirani & Friedman

Statistical Learning from a Regression Perspective - Berk

Pattern Recognition and Machine Learning - Bishop

Course Description:

The course elaborates Indian Economy as a case of a developing economy that has made its transition from one that is under colonial power to one of a relatively closed economy, followed by its opening up to the globalized economy. In this backdrop, the course entails a discussion on the historical trajectory of how Indian Economy evolves over the post-Independence period.  Further, the course entails a discussion on major sectoral problems, including those in the external sector. The course concludes by critically discussing the contemporary developmental challenges in India.

Course Objectives:

 The basic objective of this course is to deepen their understanding of the problems and challenges facing the Indian Economy. The course aims to familiarise the students with the structure and concepts of the Indian Economy with rigorous application of economic theories.

India in a global Economy. Its features and emerging issues of development. Comparison of India with other major economies in the world.

India in a global Economy. Its features and emerging issues of development. Comparison of India with other major economies in the world.

Fiscal and Monetary Policy Approaches, Fiscal Federalism, Tax Reforms, Central Government Finances, Financial Sector Reforms, Money and Capital Market. Current Status of Agriculture Input Pricing , Subsidies and Land Reforms, Industrial Policy and Development after 1991, Public Sector Undertaking (PSUs), Privatization and Disinvestment, Reviving agricultural and economic growth, Sustainable development challenges,

External sector, Balance of payments—trend and composition; currency convertibility and exchange rate movements; Exim policy and WTO related issues; portfolio investment and foreign direct investment

Fiscal and Monetary Policy Approaches, Fiscal Federalism, Tax Reforms, Central Government Finances, Financial Sector Reforms, Money and Capital Market. Current Status of Agriculture Input Pricing , Subsidies and Land Reforms, Industrial Policy and Development after 1991, Public Sector Undertaking (PSUs), Privatization and Disinvestment, Reviving agricultural and economic growth, Sustainable development challenges,

External sector, Balance of payments—trend and composition; currency convertibility and exchange rate movements; Exim policy and WTO related issues; portfolio investment and foreign direct investment

Demographic trends and issues; education; health and malnutrition. Growth and social sector developments, Migration, Poverty, inequality and unemployment. Labour laws and labour markets, and infrastructure needs.

Demographic trends and issues; education; health and malnutrition. Growth and social sector developments, Migration, Poverty, inequality and unemployment. Labour laws and labour markets, and infrastructure needs.

Institutions, Development Concept, State and Market, • Panchayati Raj Institutions – (PRIs) NonGovernment Organizations (NGOs), • Sustainable Development, Fiscal Federalism, Financing of Infrastructure Development, Education Sector

Institutions, Development Concept, State and Market, • Panchayati Raj Institutions – (PRIs) NonGovernment Organizations (NGOs), • Sustainable Development, Fiscal Federalism, Financing of Infrastructure Development, Education Sector

CIA-2: 50 Marks, mid-semester examinations

CIA-3: 20 Marks, group presentations

The goal of the course is to introduce the main issues of development economics. What affects economic growth, inequality, and poverty? Why do some countries achieve high levels of economic development and others do not? What are the policy foundations that lead to these conditions? In this course we will initially approach these questions from a macro perspective and later introduce a microeconomic view of the problems

Course Objective are

a. To provide the students with a thorough knowledge and understanding of the foundations and applications of concepts and approaches in Development Economics

b. To enable students in identifying issues in economic development and to critically reflect on them in an informed manner

Economic growth theories: Slow-Swan growth model and its extension- Romer model with knowledge spill overs and increasing returns to scale; Endogenous growth theory: Models with endogenous technological change- Contemporary Theories of Economic Development: Dualistic development and structuralism – Lewis model- The balanced-growth Nurske model- New frontiers in Theories of Economic Development: The imperfect information paradigm (Stiglitz); The new institutional economic paradigm (Williamson);The international dependence models

Economic growth theories: Slow-Swan growth model and its extension- Romer model with knowledge spill overs and increasing returns to scale; Endogenous growth theory: Models with endogenous technological change- Contemporary Theories of Economic Development: Dualistic development and structuralism – Lewis model- The balanced-growth Nurske model- New frontiers in Theories of Economic Development: The imperfect information paradigm (Stiglitz); The new institutional economic paradigm (Williamson);The international dependence models

The nature of contemporary poverty- Poverty traps - the theory and evidence - credit market failures, risk, social norms and attitudes, and spatial externalities-Measurement of poverty – poverty lines and indices- The Human Development Index- Multidimensional Poverty Index- Dynamics of Inequality and Economic Development, and the contemporary Indian experience

The nature of contemporary poverty- Poverty traps - the theory and evidence - credit market failures, risk, social norms and attitudes, and spatial externalities-Measurement of poverty – poverty lines and indices- The Human Development Index- Multidimensional Poverty Index- Dynamics of Inequality and Economic Development, and the contemporary Indian experience

The determinants of private capital flows (FDI, bank lending, bonds and equity); and the institutional and policy issues arising from their impact on macroeconomic stability and growth; The economics of aid (from whom, to whom and with what effects) and the normative economics of aid (how to allocate and deliver aid better); the relationships between these two sorts of financial flows

The determinants of private capital flows (FDI, bank lending, bonds and equity); and the institutional and policy issues arising from their impact on macroeconomic stability and growth; The economics of aid (from whom, to whom and with what effects) and the normative economics of aid (how to allocate and deliver aid better); the relationships between these two sorts of financial flows

Land (tenancy, shareholding, and property rights); Labour (labour markets, shadow wages, wage determination); Migration (equilibrium models, causes and consequences, risk); Credit and micro-finance (credit rationing, household credit, lending to the poor); Agrarian Distress and Indian Economic Development

Land (tenancy, shareholding, and property rights); Labour (labour markets, shadow wages, wage determination); Migration (equilibrium models, causes and consequences, risk); Credit and micro-finance (credit rationing, household credit, lending to the poor); Agrarian Distress and Indian Economic Development

Industrialization, economic growth and the industrial policy debate- The experience of the East Asian NICs: lessons and debates; Transfer of technology and role of multinational companies; Industrialisation and catch-up in the emerging economies: the BRICS and beyond

Industrialization, economic growth and the industrial policy debate- The experience of the East Asian NICs: lessons and debates; Transfer of technology and role of multinational companies; Industrialisation and catch-up in the emerging economies: the BRICS and beyond

The impact of trade and foreign investment on growth, inequality and poverty; Variation in impact among countries with differing factor endowments and institutions- Policy and non-policy barriers to external economic linkages

The impact of trade and foreign investment on growth, inequality and poverty; Variation in impact among countries with differing factor endowments and institutions- Policy and non-policy barriers to external economic linkages

Some new paradigms of economic development- The Capability Approach- De-Growth- Economic Policy Alternatives

Some new paradigms of economic development- The Capability Approach- De-Growth- Economic Policy Alternatives

2. Daron Acemoglu Introduction to Modern Economic Growth.

3. Amartya Sen Development as Freedom

4.Rajat Acharyya and Saibal Kar International Trade and Economic Development

5.Poon and Rigby International Trade: The Basics

2.     Joseph Stiglitz Making Globalization Work

3.     Kaushik Basu Beyond the Invisible Hand

4.     David Harvey Neoliberalision

5.     Barro, R. J., & Sala-i-Martin, X. I. (2003). Economic growth. MIT press.

6.     Daron Acemoglu Introduction to Modern Economic Growth

7.     Jean Dreze and Amartya Sen An Uncertain Glory

8.     Abhijit Banerjee and Esther Duflo Poor Economics

9.     GoI: Multidimensional Poverty Index

10.  Anirudh Krishna Broken Ladder

11.  Adam Szirmai Socio-Economic Development

12.  Surinder Jodhka The Indian Village

13.  AR Vasavi Shadow Space: Suicides and the Predicament of Rural India

14.  Ha Joon Chang The East Asian Development Experience

15.  Poon and Rigby International Trade: The Basics

16.  Rajat Acharyya and Saibal Kar International Trade and Economic Development

17.  Amartya Sen Development as Freedom

18.  CP Chandrasekhar and Jayati Ghosh The Market that Failed

19.  Ha Joon Chang Reclaiming Development: An Alternative Policy Manual

Mid Exam -50 marks

CIA 2- 20 marks

ESE- 100  Marks

This course aims to introduce the principles and methods of Behavioural Economics. It examines how psychological biases play an important role in economic decision-making. The course compares the standard economic model with the behavioural economics model and shows how the latter can strengthen understanding the real world of individuals, firms and policymakers.

Nature of Behavioral economics -Methodological approach: Theory and evidence -Origins of behavioral economics- Neo-classical and behavioral approaches to studying economics- Relationship with other disciplines- Application: Case studies on Loss aversion, Money Illusion, Altruism.

Nature of Behavioral economics -Methodological approach: Theory and evidence -Origins of behavioral economics- Neo-classical and behavioral approaches to studying economics- Relationship with other disciplines- Application: Case studies on Loss aversion, Money Illusion, Altruism.

Values, Preferences and Choices: The standard model- Axioms, assumptions and definitions- Decision making under risk and uncertainty: Prospect theory- Reference points- Loss Aversion- Shape of utility function- Decision weighting- Heuristics and Biases-Application: Case studies on Endowment Effect and Loss Aversion.

Mental accounting: Nature and components of mental accounting- Framing and editing- Budgeting and fungibility- Choice bracketing and dynamics-Policy implications- Libertarian paternalism and choice architecture- Nudges- Application - Introduction to Neuroeconomics 

Values, Preferences and Choices: The standard model- Axioms, assumptions and definitions- Decision making under risk and uncertainty: Prospect theory- Reference points- Loss Aversion- Shape of utility function- Decision weighting- Heuristics and Biases-Application: Case studies on Endowment Effect and Loss Aversion.

Mental accounting: Nature and components of mental accounting- Framing and editing- Budgeting and fungibility- Choice bracketing and dynamics-Policy implications- Libertarian paternalism and choice architecture- Nudges- Application - Introduction to Neuroeconomics 

The Discounted Utility Model: Origin and features of Discounted Utility Model (DUM)- Methodology- Anomalies in DUM- Alternative Intertemporal Choice Models: Time preference- Time inconsistent preferences- Hyperbolic discounting

The Discounted Utility Model: Origin and features of Discounted Utility Model (DUM)- Methodology- Anomalies in DUM- Alternative Intertemporal Choice Models: Time preference- Time inconsistent preferences- Hyperbolic discounting

Nature of behavioral game theory- Mixed strategies- Bargaining- Iterated games- Signaling- Learning- Application: Case studies on Market entry in Monopoly and Impasses in bargaining and self-serving bias.

Nature of behavioral game theory- Mixed strategies- Bargaining- Iterated games- Signaling- Learning- Application: Case studies on Market entry in Monopoly and Impasses in bargaining and self-serving bias.

2. Erik Angner, A Course in Behavioral Economics, Palgrave Macmillan 2012.

3. Dan Ariely, “Predictably Irrational: The Hidden Forces that Shape Our Decisions”, Harper Collins 2009,

4. Richard Thaler and Carl Sunstein, “Nudge: Improving Decisions about Health, Wealth and Happiness”, Penguin UK 2009.

5. Kahneman, Daniel and Amos Tversky. Choices, Values and Frames, New York: Russell, Sage Foundation; Cambridge, U.K.; New York: Cambridge University Press, 2000.

6. Camerer, Colin, Loewenstein, George, and Rabin, Matthew (eds.), Advances in Behavioral Economics, Russell Sage Foundation and Princeton University Press, 2003.

7. Colin Camerer, Behavioral game theory: experiments in strategic interaction, Princeton University Press, 2003.

8. Diamond, P. and H. Vartianen, Behavioral Economics and Its Applications, Princeton University Press, 2007.

9. David Laibson, The Psychology of Savings and Investment;  A series of three talks at the London School of Economics and Political Science, Nov 19–21, 2007.

10. David Laibson, "Golden Eggs and Hyperbolic Discounting" (1997), Quarterly Journal of Economics. 

11. Raj Chetty, Consumption Commitments and Habit Formation, NBER Working Paper 10970, 2014.

This course covers time series and panel data econometrics with focus on applications in the field of macroeconomics, international finance and societal issues. The course covers univariate and multivariate models of stationary and nonstationary time series in the time domain. The objective of the course is to develop a comprehensive set of tools and techniques for analyzing various forms of univariate and multivariate time series, and for understanding the current literature in applied time series econometrics.

Stochastic processes - Properties of stochastic process. Time series as a discrete stochastic process– Stationarity- Characteristics of stochastic component of time series (mean, auto-covariation and autocorrelation functions). Lag operator- Unit root tests - Deterministic and stochastic trend models, Test for stationarity-ACF, PACF, -Augmented Dickey Fuller test – Phillips-Perron Test-Estimation and testing, Forecasting-B-J methodology.

Stochastic processes - Properties of stochastic process. Time series as a discrete stochastic process– Stationarity- Characteristics of stochastic component of time series (mean, auto-covariation and autocorrelation functions). Lag operator- Unit root tests - Deterministic and stochastic trend models, Test for stationarity-ACF, PACF, -Augmented Dickey Fuller test – Phillips-Perron Test-Estimation and testing, Forecasting-B-J methodology.

Dynamic simultaneous equations models- Granger causality test - Vector Auto Regressive (VAR) Models-Impulse Response Function (IRF)-Variance Decomposition Analysis, Forecasting with VAR, - Structural Vector Auto Regressive (SVAR) models– Estimation and Diagnostic Checking.

Dynamic simultaneous equations models- Granger causality test - Vector Auto Regressive (VAR) Models-Impulse Response Function (IRF)-Variance Decomposition Analysis, Forecasting with VAR, - Structural Vector Auto Regressive (SVAR) models– Estimation and Diagnostic Checking.

Spurious regression- Cointegration- Granger representation theorem -Vector error correction models (VECMs)- Structural VAR models with Cointegration - Testing for Cointegration – Engle and Granger (1987) and Johansen and Juselius (1990) - Estimating the Cointegration rank- Estimating Cointegration vectors.

Spurious regression- Cointegration- Granger representation theorem -Vector error correction models (VECMs)- Structural VAR models with Cointegration - Testing for Cointegration – Engle and Granger (1987) and Johansen and Juselius (1990) - Estimating the Cointegration rank- Estimating Cointegration vectors.

Volatility Clustering- Leverage Effects- Modelling Volatility- Autoregressive Conditional Heteroscedasticity (ARCH) Model- Generalised Autoregressive Conditional Heteroscedasticity (GARCH) Model - Extensions to GARCH-Exponential GARCH and Threshold GARCH models.

Volatility Clustering- Leverage Effects- Modelling Volatility- Autoregressive Conditional Heteroscedasticity (ARCH) Model- Generalised Autoregressive Conditional Heteroscedasticity (GARCH) Model - Extensions to GARCH-Exponential GARCH and Threshold GARCH models.

Introduction to Panel Data - Types of panels- Balanced and Unbalanced Panel Data-Benefits and drawbacks of longitudinal data. Basic models, -The Constant Coefficient Model, The Fixed effect model or Least-Squares Dummy Variable (LSDV) Regression Model, The restricted F test, One-Way and Two-Way Fixed Effects Models, Within group and first difference estimators, Random effects Model-Estimation and testing- Fixed vs Random Effects Model -Hausman specification test, Breusch-Pagan test.

Introduction to Panel Data - Types of panels- Balanced and Unbalanced Panel Data-Benefits and drawbacks of longitudinal data. Basic models, -The Constant Coefficient Model, The Fixed effect model or Least-Squares Dummy Variable (LSDV) Regression Model, The restricted F test, One-Way and Two-Way Fixed Effects Models, Within group and first difference estimators, Random effects Model-Estimation and testing- Fixed vs Random Effects Model -Hausman specification test, Breusch-Pagan test.

Damodar N Gujarati and D C Porter , Basic Econometrics, McGraw Hill Publication, 5^thedition.

Bhaumik, S.K. (2015) Principles of Econometrics: A Modern Approach Using EViews, Oxford University Press.

Kerry Patterson, An Introduction to Applied Econometrics: A Time Series Approach. Palgrave Macmillan.

CIA 2 - 50 Marks

CIA 3- 20 Marks

End Sem Exam -100 MArks

This paper is offered as an elective paper in the third semester of MA Applied Economics. It teaches the decision making tools in Quantitative Techniques that are applied in economics and business analysis.

Brief history- stages of development- definitions, features, Methodology of OR, OR tools.

Brief history- stages of development- definitions, features, Methodology of OR, OR tools.

Fundamentals of L P models - Graphic solutions of LP models – feasible solutions- infeasible solutions- unbounded solutions- Maximization and Minimization of Objective Functions - Simplex Method with two and more than two variables, Special cases in the Simplex methods, Duality and sensitivity analysis, Practical problems, Case studies, LPP solutions with Excel Solver.

Fundamentals of L P models - Graphic solutions of LP models – feasible solutions- infeasible solutions- unbounded solutions- Maximization and Minimization of Objective Functions - Simplex Method with two and more than two variables, Special cases in the Simplex methods, Duality and sensitivity analysis, Practical problems, Case studies, LPP solutions with Excel Solver.

TTransportation algorithm- Basic feasible solution of TP- North West Corner Rule- Least Cost method- Vogel’s Approximation Method – Optimality test- Stepping Stone method – Modi method, Special cases in the transportation problems-Degeneracy, unique & multiple optimal, unbalanced transportation problem, case studies.

TTransportation algorithm- Basic feasible solution of TP- North West Corner Rule- Least Cost method- Vogel’s Approximation Method – Optimality test- Stepping Stone method – Modi method, Special cases in the transportation problems-Degeneracy, unique & multiple optimal, unbalanced transportation problem, case studies.

Statement of the problem, Hungarian Assignment - Problems – Optimality tests- problems - Maximization assignment problem, Some special cases.

Statement of the problem, Hungarian Assignment - Problems – Optimality tests- problems - Maximization assignment problem, Some special cases.

Net work models - CPM -  PERT - Determination of Earliest Expected and Latest Allowable Times - Determination of Critical path – PERT Cost- Scheduling of a project- Application of PERT- Critical Path Method- Problems, cases.

Net work models - CPM -  PERT - Determination of Earliest Expected and Latest Allowable Times - Determination of Critical path – PERT Cost- Scheduling of a project- Application of PERT- Critical Path Method- Problems, cases.

Basic Features of inventory decisions- EOQ Models – Problems – how to order – Wen to order - Quantity Discounts- EPQ models – Dynamic Inventory Models – problems - ABC Analysis.

Basic Features of inventory decisions- EOQ Models – Problems – how to order – Wen to order - Quantity Discounts- EPQ models – Dynamic Inventory Models – problems - ABC Analysis.

CIA 2- 50 marks based on the mid-semester examination

CIA 3- 20 marks based on the criteria specified in the course plan

End semester examination-100 mark

The course aims to cover the broad approaches of ethical inquiry as an essential component of critical thinking in Economics. It would also explore and critique the economic welfare models with its emphasis on efficiency based ethics and outcomes. 

Importance of ethics in economics; Outcomes of ethical analysis; Duties, rules and virtues; Economic behaviour: Self-interest and rational behaviour- Adam Smith and self-interest

Importance of ethics in economics; Outcomes of ethical analysis; Duties, rules and virtues; Economic behaviour: Self-interest and rational behaviour- Adam Smith and self-interest

Interpersonal comparisons of utility; Welfare and efficiency; Pareto efficiency and cost benefit analysis; well-being and agency; Achievements, freedoms and rights; Self-interest and welfare economics

Interpersonal comparisons of utility; Welfare and efficiency; Pareto efficiency and cost benefit analysis; well-being and agency; Achievements, freedoms and rights; Self-interest and welfare economics

Moral limits to markets; Well-being, agency and freedom; Economic justice: process and outcomes; Economic justice: equal opportunity; Ethical pluralism in Economics

Moral limits to markets; Well-being, agency and freedom; Economic justice: process and outcomes; Economic justice: equal opportunity; Ethical pluralism in Economics

1.      Jonathan B. Wight. Ethics in Economics: An Introduction to Moral Frameworks, CA: Stanford University Press, 2015

2.      AmartyaSen, On Ethics and Economics, Australia: Blackwell, 1987

CIA I and III- 20 marks each

CIA II Mid semester exams- 50 marks

End-semester exams-100 marks

This course aims at:

Introducing the students to the core concepts of health and education in economics. It also provides theoretical and practical knowledge about the components of human capital in the framework of economic theory. The course also helps the students identify and analyze the potential research areas related to health and education, focusing on the India scenario.

Education in Economic Theory: Developments in the theory of human capital; Human Capital and the Rate of Returns; Cost-Benefit Analysis; Private versus Social Rate of Return; Policy Implications of Rate of Return Approach to Education; The General Earnings Function: Becker and Mincer; Egalitarian Approach; Elite Approach; Valuation of Human Capital; A Critique of the Human Capital Theory: Theory of Signalling, Dual Market Hypothesis, A Social Choice Approach, the Capability Approach.

Education in Economic Theory: Developments in the theory of human capital; Human Capital and the Rate of Returns; Cost-Benefit Analysis; Private versus Social Rate of Return; Policy Implications of Rate of Return Approach to Education; The General Earnings Function: Becker and Mincer; Egalitarian Approach; Elite Approach; Valuation of Human Capital; A Critique of the Human Capital Theory: Theory of Signalling, Dual Market Hypothesis, A Social Choice Approach, the Capability Approach.