You are here

BA (Hons.) Economics

PROGRAM INFO

START DATE END DATE DURATION LAST DATE TO APPLY PROGRAMME. & RESIDENTIAL FEE (YEARLY)

01 August 2018

07 August  2021

3 Years

15 July 2018

Rs. 2.50 Lacs + Rs. 2.00 Lacs

Objective 

The BA economics programme aims at developing among students a sound theoretical understanding of the subject along with practical applications. The idea is not to instill interest in any one particular area of research or cater to the requirements of a particular kind of job. Studying economics today opens up several possibilities for the future, and the idea is to guide students select their own trajectory in career advancement.

Eligibility 

60% & 10+2

Credit Structure 

Total number of courses: 25 (3 credits each)

Economics Core: 13

Economics Optional: 6

Colloquium based Research Paper: 2

Other Courses: 4 (Environmental Studies, Introduction to Social Theory, Equity & Fairness, English Language Writing)

Number of Credits: 75

In a semester, students can opt for a maximum of 15 credits.

In the last two semesters, students can opt for more than 6 optional courses (provided the total number of credits in a semester does not exceed 15). For the purpose of calculating final cumulative grade points, scores obtained in the best 6 optional courses will be considered (even though all grades obtained in all courses will be mentioned in the final transcript).

COURSE STRUCTURE

SEMESTER 1

Mathematics 1 (EC 01)

This course is an introductory course on the main tools and techniques of mathematical analysis that are related and applied to economics. The purpose is to provide students with foundational quantitative skills to understand and work with economics. The goal of the course is to provide students with a foundation to apply mathematical knowledge, formally and intuitively, to different economic situations in microeconomics and macroeconomics, both theoretically and empirically.

Influential Ideas in the Evolution of Economics (EC 02)

This new module provides students with an exciting opportunity to participate in the revival of interest in the history of economic thought, which is now occurring in response to the current financial and economic crisis. The module will accordingly relate the study of economic ideas of the past with current debates and discussions on the unfolding events of the present. The module will show how reassessing the ideas of the past provides a unique opportunity to think 'outside the box' and address economic issues which had become unfamiliar within economic theory as it has existed in recent times.
The module will acquaint students with carefully chosen selections from some classic texts of economic thought, which they will be able to cite throughout their student career and beyond.
The module will have strong career relevance, in providing students with the ability to engage in informed discussion with specialists and non-specialists alike on issues currently reviving widespread attention in the media and public debate generally.

Microeconomics 1 (EC 03)

Scarcity and trade-offs, opportunity cost, marginal analysis, positive vs. normative analysis, prices and markets, concept of equilibrium, ceteris paribus, competitive versus noncompetitive markets, real vs nominal price, the production possibilities frontier, specialization and trade, absolute advantage vs comparative advantage, representation of economic data with graphs, slope and elasticity.

Game Theory (EC 04)

This course is a survey of the main ideas and techniques of game-theoretic analysis related to economics. As such, the course emphasizes the identification and analysis of archetypal strategic situations frequently occurring in different economic situations. This course is to familiarize students with elementary concepts of game theory, which revolutionalized the way economic theory is understood in modern times. The goal of the course is to provide students with a foundation to apply game-theoretic analysis, both formally and intuitively, to economic situations, like conflicts, negotiation and bargaining situations.

English language reading & writing skills (ELW 01)

This course aims at boosting the English language capability of students so that the future economists are competent enough to express themselves effectively and correctly in English. Reading comprehension is an important aspect of English language training as English is second language for most students. So, a few literary texts have been prescribed as these not only serve as models of good writing, but also make students of social sciences improve their writing skills based on analysis. In addition to critical thinking, their imaginative faculties are also sought to be developed. The selection of some texts has been done with an eye on the taste of the young generation as also the necessity to imbibe the idiom of the discipline which the students have chosen for study.
Teaching is done through lectures and seminars in the class room. Apart from the verbal texts, visual texts in the form of movies and documentaries are also screened. After watching these, the students are expected to take part in the debate on various issues as also the stylistic elements of the movie. Group discussions and exercises in the class room are other methods of teaching which are often tried in the class with positive results. Students have to submit assignments regularly and on that basis assessment credit is given to them.

SEMESTER 2

Contracts-I

Mathematics 2 (EC 05)

A course in advanced economic theory designed to provide students the fundamental mathematical tools necessary to prepare for graduate work in economics, both micro and macro. Topics include the development of portions of consumer, producer and macro (fiscal and monetary) theory. The material includes comparative static analysis, single and multiple agent unconstraint and constraint optimization problems and dynamic analysis.

Introduction to Probability Theory (EC 06)

This course is designed to introduce students to various topics in probability and uncertainty that they will encounter in economic theory. This course will introduce students to the classical theory of probability, random variables, probability distributions, and some special distributions. This course will serve as foundation for statistical analysis which includes inference and hypothesis testing, discussed in the following semester. The concepts are illustrated with actual examples from the economics literature. The course begins with the notion of probability; it then develops the notion of random variable, followed by probability distributions of both discrete and continuous random variables. The semester concludes with a discussion of joint distributions. As part of the course exercises are designed to encourage the student to begin thinking about probability and uncertainty within a theoretical economics context.

Macroeconomics 1 (EC 07)

In this first course on macroeconomics, students will study basics of GDP, GDP deflator, and National Income Accounting (the value added and income approach); the circular flow of income; Index Numbers; aggregate demand and supply; output, cycles, inflation, and employment; money and the financial system; open economy macroeconomics and the exchange rates; the effects of fiscal and monetary policy; debt problem in emerging economies; and economic crisis in advanced and emerging economies.

Microeconomics 2 (EC 08)

Why monopolies arise, how monopolies make production and pricing decisions, the welfare cost of monopolies, price discrimination, two-part tariff, pubic policies towards monopolies.

SEMESTER 3

Macroeconomics-2 (EC 09)

The first part of this course provides a discussion on the Keynesian theory of Aggregate Demand, theory of consumption and investment, the investment accelerator models, and the Harrod-Domar Model of Economic Growth. Part-2 of this course discusses the basic Solow growth model of exogenous savings, the Ramsey Growth model of endogenous savings, and a simple two-period Overlapping Generations Model.

Statistical Methods (EC 10)

"Statistics is a method of, investigation that is used when other methods are of no avail; it is often a last resort and a forlorn hope. A statistical analysis, properly conducted, is a delicate dissection of uncertainties, a surgery of suppositions. The surgeon must guard carefully against false incisions with his scalpel. Very often he has to sew up the patient as inoperable. The public knows too little about the statistician as a conscientious and skilled servant of true
science.” [M. J. Moroney, Facts from Figures]
Empirical evidence, often the outcome of some form of data analysis, provides increasingly important inputs to a variety of policy processes addressing economic, public service delivery and other development challenges. Understanding quantitative methods and analysis is thus of growing importance not only for development and policy practitioners but also for policy makers themselves. This introductory course is tailored for public policy MA students and has been designed to enable a basic grasp of statistics and data analysis.
Even among the literate, the fear for mathematics and numbers is quite widespread. One of the aims of this course is to help students overcome this fear and develop the ability to comprehend statistical applications and develop some ease in applying these techniques. This is a beginner's level course in Statistics, and hence your takeaway from this course
would be on basic familiarity with the field.

Indian Economy (EC 11)

The objective of this course is to provide a broad overview of the concept, and structure of the Indian Economy since pre-independence period. This course tries to familiarize students with development trajectory of the Indian economy since pre-independence period. It begins with a brief review of the Indian economy during colonial rule and introduces the roots of Indian underdevelopment and deindustrialization. It then moves into Indian development experience since independence such as the initial planning period of the 1950s and 1060s, policy of import
substitution industrialization, green revolution, various poverty alleviation strategies, changes in economic policies during economic reforms and their consequences on the Indian economy. 

Equity and Fairness (ES 01)

Colloquium I (ECQ 1)

SEMESTER 4

Econometrics-1 (EC 12)

This is a course on Applied Regression Methods. Myriad regression models and techniques have become ubiquitous methods for eliciting useful information and identifying patterns and relationships in Data. Economists of all stripes routinely use such methods in their work. In any regression model we have one dependent variable and some independent/predictor/explanatory variables. Our objective is to find out how much does the changes in the values of the independent/predictor/explanatory variables affect the change in the dependent variable. The Linear Regression Model (LRM) and the estimation technique of Ordinary Least Squares (OLS) constitutes the basic building blocks of regression analysis. To be able to understand, learn and use advanced and complex models of regression a good grasp of LRM and OLS is indispensable.

Environmental Economics (EC 13)

A good reference text is Hal R. Varian Microeconomic Analysis. You should already know, but may wish to review, the sections on general equilibrium and welfare. Weitzman handout.
M.L. Weitzman, note on John Broome's ―Climate change: why economics requires ethics.

Introduction to Social Theory (ES 02)

Colloquium II (ECQ 2)

SEMESTER 5

Environmental Studies (ENV 01)

Optional

SEMESTER 6

Optional