INTRODUCTORY MICROECONOMICS

·        Introduce with the basic problem of the economy and optimal allocation of resources accordingly.

·        Understand basic microeconomic concepts like demand, supply, production, cost, revenue and profit and the theories explaining their determination.

·        Learn how the various economic agents like consumers, firms behave rationally to optimize their goals given the economic resources.

·        Understand market clearing process with the help of demand supply apparatus and the role of the government.

·        Get aware about the increased use of mathematical tools in solving economic problems.

·        Use various mathematical techniques like differentiation, integration, matrix algebra etc. for understanding basic economic theories.

·        Understand constrained and unconstrained optimization problem for local and global optimization in relation with consumption and production.

·        The nature and basic concepts of Macroeconomics.

·        The concept and measurement of different components of national income and its importance as an indicator of economic welfare.

·        The construction and measurement of aggregate macroeconomic variable like savings, investment, GDP, balance of payment, unemployment, money and inflation.

·        The income determination in the closed economy in short run in Classical and Keynesian system, with essential impacts of fiscal and monetary policy variables, IS-LM model, concept of multipliers.

·        The basic concepts of statistical methods like population, sample, primary and secondary data, frequency distribution, diagrammatic representation of data etc.

·        The computation of central tendency, dispersion, skewness and kurtosis, Correlation and Regression Analysis

·        The concept of ANOVA table. The concept and measurement of time series, index numbers and vital statistics.

– I

·        To train in microeconomic theory to formally analyze the behaviour of individual agents.

·        To use mathematical tools for the analysis of the optimizing behavior of different individual units like consumer, firm;

·        To learn about the concept of risk and how to deal with risk and to reduce risk;

·        To analyse the short run and long run behavior of firm and industry under different market structure such as perfect competition and imperfect competition.

– I

·        To introduce various macro-economy models to sue them as analysing tools;

·        To derive aggregate demand and aggregate supply curves;

·        To explain different theories of output and employment determination in a closed economy in short run and medium run;

·        To use policies in this context;

·        To introduce the concept of Inflation, its causes and effects, the inflation- unemployment trade-off,

Different policies regarding inflation;

·        To learn about various theoretical issues related to open economy.

·        Understand concepts of functions and graphs used in economic theories.

·        Learn to determine micro level market adjustments and macro level scenarios in dynamic models with the help of difference and differential equations.

·        Apply knowledge to solve the problems on theory of consumer and firm, intertemporal choice theory, behaviour under uncertainty and comparative statics,

·        Understand interaction between economic agents in static game theoretic framework.

·        Use of linear programming problem and interdependent industry relations.

– II

·        Identify different oligopoly market forms in real life.

·        Learn outcomes of the variable factor markets.

·        Recognise the reasons for market failure.

·        Learn about general equilibrium and welfare and topics under information economics.

– II

·        To introduce  the long run dynamic issues like growth and technical progress;

·        To provide the micro-foundations to the various aggregative conceptswith alternative theories;

·        To discussthe different schools of Macroeconomic thoughts

·        To discuss basic statistical terminologies for statistical analysis and inference;

·        To introduce random variable, probabaility, probability distributions;

·        To discuss joint distributions of random variables;

·        To discussion on sampling techniques used to collect survey data;

·        To introduce some concepts on statistical inference that include point of interval estimation;

·        To practice sums related to all concepts

·        To introduce to basic econometric concepts and techniques. It covers statistical concepts of

·        To discuss the concept of hypothesis testing, estimation;

·        To illustrate the methods of diagnostic testing of simple and multiple regression models.

·        To discuss the covers consequences of and tests for misspecification of regression models.

DEVELOPMENT ECONOMICS

·        Understand and justify the alternative concepts of development.

·        Analyse various demographic concepts and their evolution with the help of different theories and models

·        Discuss different aspects of international trade and know the structure and functions of different international financial and trade organisations.

·        Learn the different measures of poverty and inequality and interpret the linkages between growth and inequality

INDIAN ECONOMY

·        Decipher the structural changes of the Indian economy in the plan period considering the backward nature of the economy

·        Identify the key issues related to Indian agriculture, industry, unemployment and poverty in both pre and post reform periods and their policy relevance.

·        Comprehend the objectives, success and failures of  India’s five year plans and the recent changes in the emphasis

·        Realize and economically interpret the alterations in the government policies related to financial market, public economics and foreign trade

·        Assess the Classical and Neo-classical theories of trade through the concepts of gains from trade, terms of trade, and absolute and comparative advantage

·        Compare among various trade restriction policies and their welfare implications

·        Relate international trade with factor income and country size with gains from trade

·        Identify the policies for ensuring internal and external balance in a nation

·        The research methodology, the fundamental steps in primary data collection, the analysis of data in terms of charts, diagrams both for primary and secondary data, estimation of descriptive statistics.

·        The Linear Econometric Model with deep understanding of the problems of Multicollinearity, Heteroscedasticity, Auto-correlation and Dummy variables.

·        The econometric software package SPSS or E–VIEWS or STATA.

PUBLIC ECONOMICS

·        The nature and scope of Public Economics illustrating the role of state in a mixed economy.

·        Concept and deep understanding of the theory of public good.

·        Different principles of government taxation and its impact on saving, risk bearing and work effort of economic agents.

·        Different concepts of deficit in government budget and effects of public debt on a society.

·        The importance of education and health in human development.

·        The microeconomic foundations of Health economics, like, uncertainty in health insurance market, market failure and public intervention, inequality aspect etc.

·        The evaluation of different health programs.

·        Different aspects of Economics of Education, like,  Rate of return to education as an investment in human capital, quality of education, theories of different types of discriminations in education sector in India etc.

·        An overview of health and education in India.

·        To impart extended knowledge of different development indices like HDI, hpi, Inequality etc.;

·        To discuss alternative institutional trajectoriesand their relationship with economic performance;

·        To elaborate individual behavior with social environment , individual responses to organizational inefficiency;

·        To discuss the concept of sustainable development in consideration with environment

·        To give the idea on theory of interest and different concepts related to interest like interest rate sensitivity, yield curves, immunization etc.,

·        To discuss the asset returns, portfolio analysis, risk-free assets , capital market ;

·        To explain the contracts , future prices, stock index futures, the principle of arbitrage, and financing in the corporate sector;

·        To develop comprehensive knowledge on the role of finance in the operation of an economy.

DISSERTATION

·        A brief and precise research work.

·        Research analysis on contemporary socio-economic issues by applying research methodology.

·        Data presentation, economic analysis and preparation of dissertation using statistical and simple econometric tools.

·        The concise form of presentation and this concept will be helpful in their future academic and job assignments.

·        Illustrate how microeconomic concepts can be applied to analyze real-life situations.

·        Decipher the optimisation techniques of the consumer and producer and cost pattern of the firms

·        Realise the differences between competitive and imperfectly competitive market structures on the basis of pricing policies, features and assumptions

·        Comprehend  the factor pricing techniques

INTRODUCTORY MACROECONOMICS

·        Grasp the basic foundations of Banking structure and Financial markets by which they can comprehend different banking, fiscal, and monetary events of the economy.

·        Differentiate Gross Domestic Product and Gross National product and compare national income with personal income

·        Determine equilibrium income in a Keynesian two-sector model and equilibrium employment and income  in the Classical Model

·        Realize the causes, types and consequences of inflation in an economy and the relevant anti-inflationary policies.

·        Distinguish between growth and development and gather a fair idea about the growth indicators and HDI

·        Understand and interpret the complementary role and the inter-linkage  of agriculture and industry

·        Assimilate the basic themes and facets of the gender discrimination

·        Comprehend the two way relationship between population growth and economic development.

·        Decipher the sectoral changes in the distribution of national income in the plan period considering the basic features of Indian economy

·        Acknowledge various agricultural, industrial issues and development in the pre and post-reform era

·        Identify and compare the role of commercial banks and central bank (Reserve bank of India) and analyse the paradigm shift in the monetary policy of RBI

·        Understand the debate regarding centre-state financial relationships and gather information about the sources of revenue and expenditure of state and central governments.

·        Assess the volume and direction of Indian foreign trade in the post-reform era

·        Different methods of survey.

·        Process of sampling and data collection/

·        Practical methods of sample handling which will help them in project work.

INDIAN OFFICIAL STATISTICS

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