Course Number          

HS2102

Course Credit                

3-1-0-4

Course Title                  

Fundamentals of Economics

Learning Objectives

To provide students with the capacity to understand and apply some of the methodologies available for applied research in economics and aid them in analysis and decision making.

Course Description    

The course provides basic knowledge of economics and its concepts which is essential for any students including those who wish to shape up career in the field of economics, management, industry etc. Course do offer how some of the microeconomic theories are associated with out day to day life.

Course Outline         

Why Economics, Normative v Positive Economics 1.2 Scarcity of resources and Economics, The Central Economic Problem, Production Possibility Curve (PPC), Consumer Behaviour: Preferences, Utility, Choice, Demand, Budget Constraint, Demand, Determinants of Demand. Supply, Determinants of Supply, Equilibrium, Elasticity. Consumer’s Surplus: Demand for a Discrete Good, Producer’s Surplus. Theory of Production, Theory of Cost Profit Maximization. Markets. Introduction: Alternative Economic Systems, Government and the Markets, Macroeconomic Issues: Measuring the Economy, how India does it? Aggregate Demand and Supply, Price Adjustment Mechanisms Fiscal Policy, Inflation, Unemployment.

Learning Outcome     

·                Undergraduate students would be able to able to understand how an economic theory works at individual level such as at the level of a consumer or a firm etc.

·                Would be able to establish any determining relationships of individual’s economic decision.

·                Develop an intuitive understanding of econometrics that allows the utilisation of the theory and tools effectively and creatively.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS2103

Course Credit                

3-0-0-3

Course Title                  

Multivariate Analysis and Introductory Econometrics

Learning Objectives

This preliminary course aims at explaining the undergraduate students to learn about statistical tools and its applications in economic theories.

Course Description    

This course deals with basic statistical tools and theories which are useful in explaining economic ideas and establish empirical causal relationships amongst different variables pertaining to different economic domains.

Course Outline         

1)     Multivariate Normal Distribution

2)     Inferences about Mean Vector

3)     Comparison of Several Multivariate Means (ANOVA, MANOVA)

4)     Simple Regression Model

5)     Multiple Regression Model

6)     Multivariate Linear Regression Model (Classical linear Regression Model, Multivariate Multiple Regression Model)

7)     Principal Components

8)     Factor Analysis

9)     Canonical Correlation Analysis

10) Discrimination and Classification

11) Clustering, Distance Methods and Ordination

Learning Outcome     

•           Undergraduate students would be able to comprehend how statistical theories works at explaining economic ideas.

•           Students would be able to establish any determining economic relationships with help of statistical tools.

Assessment Method

Quiz (20%), Mid-term examination (30%), End-term examination (50%)

Course Number          

HS2104

Course Credit                

3-0-0-3

Course Title                  

History of Economic Thought

Learning Objectives

·       Work with information: to find, evaluate and use information from various sources, necessary to solve scientific and professional problems (including those on the basis of a systematic approach)

·       Critically evaluate and rethink the accumulated experience (own and others'), to reflect on professional and social activities;

·       Critically evaluate the main trends of modern economics, competently lead a discussion about the arguments in favor of each of them;

·       Based on the description of economic processes and phenomena, one is able to build theoretical models, analyze and meaningfully interpret the results obtained.

Course Description    

The purpose of the course is to give students an overview of the process of development of economic thought from the Antiquity till the second half of the 20th century. Special attention shall be paid to the nature of the problems the economists of all times faced and tried to solve. Understanding of continuity and changes in the problem-solving activity of

economists may contribute to a better grasp of the logic of the evolution of economics as a discipline.

Course Outline         

Introduction, Economic thought of the Middle Ages, Mercantalism, Theories of value and of money, William Petty and the origins of Political Economy, Physiocratic thought, Adam Smith I: Value Theory, Adam Smith II: Growth and Income Distribution, Adam Smith III: Political Economy and Ideology, Malthus and Ricardo I: Population and Scarcity, Malthus and Ricardo II: The Theory of Value and Distribution, Malthus and Ricardo III: Accumulation and Gluts, Karl Marx I: Value Theory, Karl Marx: Accumulation, Growth and Crises, The Marginalist revolution, General economic equilibrium: Lausanne, Walras, Pareto; Partial equilibrium analysis: Alfred Marshall, American institutionalism: Marshall, John Maynard Keynes and the Keynesian revolution, Economic theory after Keynes

Learning Outcome     

·       Upon successful completion of the course students should be able to distinguish between the main schools and trends in the history of economic thought

·       To understand the analytical foundations of the approaches in the economics of the 19^th and 20th centuries.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number

HS2105 / MA2102

Course Credit

(L-T-P-C)                

3-1-0-4

Course Title                  

Probability and Stochastic Processes

Learning Mode           

Lectures and Tutorials

Learning Objectives

This particular course on probability theory and random processes aims at the undergraduate students to learn about basic properties random variables and their properties. It also covers essential theoretical concepts of random processes which are useful in many fields of practical study.

Course Description    

This course is designed to cover basic concepts of probability theory. Particularly properties of random variables like mean, variance, and moment generating functions, quantiles and other important summary of information will be discussed. We also discuss joint distribution of random variables. Probability distributions of transformed random variables will also be discussed. Illustrative discussion on central limit theorems will also be presented. We further discuss basic properties of random processes and also present their classification into different types of processes. We cover both discrete and continuous time Markov chains and study various properties.

Course Content         

Axiomatic construction of the theory of probability, independence, conditional probability, and basic formulae, random variables, probability distributions, functions of random variables; Standard univariate discrete and continuous distributions and their properties, mathematical expectations, moments, moment generating function, characteristic functions; Random vectors, multivariate distributions, marginal and conditional distributions, conditional expectations; Modes of convergence of sequences of random variables, laws of large numbers, central limit theorems. Definition and classification of random processes, discrete-time Markov chains, Poisson process, continuous-time Markov chains, renewal and semi-Markov processes, stationary processes, Gaussian process, Brownian motion, filtrations and martingales, stopping times and optimal stopping.

Learning Outcome     

(1) Students attending this course will become familiar with different probability laws and properties.

(2) This course enables students to get acquaintance with various discrete and continuous probability distributions. Also enable to compute different probabilities for such distributions. Computation of expectations, variance, quantiles and other probabilistic quantities.

(3) Learn to compute joint probability distributions, conditional and marginal probability distributions and related properties.

(4) Become familiar with the concepts of covariance and correlation.

(5) Approximate a distribution using central limit theorem

(6) Distribution of transformed random variables

(7) Basic concepts of random processes.

(8) Poisson processes (9) Markov Chains

Assessment Method

Quiz /Assignment/ MSE / ESE

Course Number          

HS2201

Course Credit                

3-1-0-4

Course Title                  

Growth and Development

Learning Objectives

1.To systematically and comprehensively understand concepts and different aspects of economic development, industrialization, structural change and growth can account for inequality and poverty.

2.To understand how modern theories can be used to undertake institutional transformation and ensure growth of nations.

3.To use economic models to understand how the old and new theories of causal relationships in development economics shape growth and development of nations.

Course Description

As a field of study, Development Economics has both a long history and a rapidly expanding set of social factors that is considered to be within its domain today. The Foundation of Development Economics will provide a long-term perspective to the field, covering topics such as the various concepts of development, the measurement of poverty and inequality, economic growth, structural transformation, industrialisation, institutions and trade. Students will be exposed to classical texts to gain an understanding of how the economic approach to these topics have evolved over time; as well as debates and theories on modern economic approaches to empirical analysis in the study of Development Economics.

Course Outline         

Concept and measurement of development; distinction between Growth and Development, Different Theories of growth, Big Push, Balanced-unbalanced growth, Changing definition of growth from Classical to Sen to multi-dimensional poverty, Coordination and Persistent Poverty and Inequality,

Education; Health and Nutrition, Structural Changes and Inequality)-Kuznet to Piketty, Lewis Todaro, Baumol and Kaldor three laws.

Land and Agriculture in the realm of development,

Globalization and Development Policy,

Property Rights and Investment Incentives,

Informal Economy and Development barriers,

Credit, Inequality in the Divergence of Incomes,

The Role of Institutions in Development,

Political Economy and Corruption,

Social Networks and Social Capital with reference to migration,

Role of Regulation in Development,

Financial Institutions and their role in development.

Learning Outcome     

1.Articulate informed opinions on advanced topics and build convincing argumentation on controversial matters of economic policy.

2.Link different and contradictory theories and identify their strengths and shortcomings describing complex socio-economic phenomena.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS2202

Course Credit                

3-1-0-4

Course Title                  

Microeconomic Theory

Learning Objectives

To provide students with the capacity to understand and apply some of the methodologies available for applied research in economics and aid them in analysis and decision making.

Course Description

The course provides advanced knowledge of Microeconomics which is essential for those who wish to shape up career in the field of economics, management, industry etc. Course do offer how some of the microeconomic theories are associated in taking adequate decisions for the firm, individual supplier, consumer etc.

Course Outline         

1.                Consumer Behaviour: Preferences, Utility, Quasilinear utility, Hicks Slutsky Demand, Marshallian Demand.

2.                Theory of the Firm: Transaction cost theory, Team production, Boundaries of the Firm, Economic theory of outsourcing.

3.                 Markets: Competitive markets, Market Failure, Market imperfection – Monopoly – Non-linear pricing, Price Discrimination, Monopsony, Oligopoly, Duopoly.

4.                Welfare Theories Concept of Social Optimum – Equity-efficiency trade-off. Externalities and Public Goods – Coase Theorem.

5.                Uncertainty: Expected Utilities, Risk Aversion, Mean-variance utility, Ellsberg Paradox.

6.                Introduction to Game Theory a. Non-cooperative games; Normal form – pure vs. mixed strategies; Solution concepts – iterated deletion of dominated strategies, Nash equilibrium. c. Applications: Oligopoly Models.

Learning Outcome     

·                 Undergraduate students would be able to able to understand how an economic theory works at individual level such as at the level of a consumer or a firm etc.

·                Would be able to establish any determining relationships of individual’s economic decision.

·                 Develop an intuitive understanding of econometrics that allows the utilisation of the theory and tools effectively and creatively.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS2203

Course Credit                

3-1-0-4

Course Title                  

Macroeconomic Theory

Learning Objectives

To provide students with the capacity to understand and apply some of the methodologies available for applied research in economics and aid them in analysis and decision making.

Course Description

The course provides advanced knowledge of Macroeconomics which is indispensable for those who wish to shape up professional career in the field of economics, management, industry etc. Course do offer how some of the macroeconomic theories are associated in taking adequate decisions for the local as well as global economy.

Course Outline         

Economic growth and the neoclassical model: Solow model, Growth accounting and growth empirics,

AK model, Neoclassical growth model in continuous time,

Neoclassical growth model in discrete time,

IS-LM model, Open economy macroeconomics,

Unemployment: Overview and Some Facts, Efficiency Wages, Unemployment Dynamics.

Rational and Adaptive Expectations, Policyevaluation and the Lucas critique,

New Classical Analysis, New Keynsian Approach,

Business cycles: Consumption, Real business cycle models.

Fiscal policy: Government expenditures and fiscal multipliers, Budget deficits and debt sustainability.

Accounting, Income Determination and Exchange Rates

Balance of payment accounts; monetary account;

Determination of national Income, multiplier analysis, the transfer problem, introduction of foreign country and repercussion effect.

Fixed and Flexible Exchange rates: Adjustments, Demand & Supply of foreign exchange.

Learning Outcome     

·                 Undergraduate students would be able to comprehend how a macroeconomic economic theory works in an economy at advanced level.

·                 Would be able to establish relationships of various tools of macroeconomics for solving advanced macroeconomic problems.

·                 Ripen an instinctive understanding of econometrics that permits the utilisation of the theory and tools effectively and creatively in dealing any advanced macroeconomic problems.

Assessment Method

Quizzes, Assignments/lab assignments, Midterm, End Term

Course Number          

HS2204

Course Credit                

3-1-0-4

Course Title                  

Econometrics -I

Course Description

This course discusses the estimation of some common econometric models, the theoretical properties of the estimators, how to make inference and finally apply the models on real-world econometric problems. The estimation methods that will be under focus are Least Squares (LS) and Maximum Likelihood (ML) techniques. The lectures will introduce the theoretical aspects of the econometric models, their estimation and inference. We will complement the lectures by a variety of real-world applications on actual data sets through homework assignments and lab classes. Students are expected to implement the knowledge gained from the class to real-world applications from a complete understanding of the econometric problem.

Learning Objectives

The overall objective of the course is to introduce the students to common econometric models, how to estimate these models and when to employ them for making proper inferences. Ultimately, the material learned during the course should enable the students to make a more informed choice of the econometric models and to better understand, test, and interpret estimation results within the context of a specific problem.

Course Outline         

Classical Linear Regression Model, Assumptions and Violations, Autocorrelation, Heteroscedasticity, Autocorrelation, Multicollinearity, Dummy Variables, GLS and FGLS estimators, Spherical disturbances,

One way and Two way error components, Fixed and Random effects, Hausman tests, Seemingly Unrelated Regression, Simultaneous Equation with error components: system estimation, Dynamic Panels: Arellano Bond estimator, Arellano Bover estimator, GMM estimator, Interaction terms, Unbalanced panels: rotating panels, pseudo panels, Limited Dependent Variables and Panel Data, Non stationary panels.

Learning Outcome     

·       Ability to understand, classify economic data.

·       Ability to analyse data, interpret it and tests for validity of hypothesis.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS3101

Course Credit                

3-1-2-5

Course Title                  

Econometrics - II

Course Description

This course focuses on time series modelling and econometrics application of times series data.

Learning Objectives

Students will be equipped with skills to empirically test and utilize time series data and their application to verify economic theories of different domains. Time series models are also extensively used for financial data analysis.

Course Outline         

Notion of difference and differential equations.

Realizations and Ensembles.

Stationarity and Unit Root Test, DF test and ADF test.

Structural break and PP test of unit root

AR and MA model, Box Jenkins ARIMA model, AIC and SBI criterion of model selection.

VAR model and Impulse Response Function.

Granger Causality, Cointegration and ECM.

Volatility models: ARCH, GARCH and their variants.

Learning Outcome     

Ability to empirically verify economic and financial theories with data.

Time series forecasting is a critical learning outcome of this course.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number

HS3102

Course Credit           

3-1-0-4

Course Title                  

Mathematical Economics

Learning Objectives

The objective of the course is to train student about the modelling of linear programming problems and its dual and various algorithms to solve these problems

Course Description    

Optimization technique, as a basic subject for undergraduate students, provides the initial knowledge of various models of linear programming problems and different algorithms to solve such problems with its applications in various problems arising in economics, science and engineering.

Course Outline

Linear programming: Introduction and Problem formulation, Geo-metrical aspects of LPP, Graphical solutions, Linear programming in standard form, Simplex, Big M and Two-Phase Methods, Revised simplex method, Special cases of LPP.

Static Optimization: Review of Classical Constrained Programming and Nonlinear Programming, Comparative Statics, Envelope Theorem, Saddle Point Theorem, Concave and Convex Programming; Elements of point-set topology and real analysis: Metric Spaces, Continuity, Convergence, Weirstrass Theorem, Fixed-Point theorems;

Dynamic Optimization: Optimal Control Theory and Hamiltonian, Dynamic Programming; Choice under uncertainty: Risk and portfolio analysis; matrix algebra and vector analysis; Differential Equations and Stability Issues: Differential Equations, Stability Theory, Phase Diagrams.

Theory of games: saddle point, linear programming formulation of matrix games, two-person zero-sum games with and without saddle-points, pure and mixed strategies, graphical method of solution of a   game, solution of a   game by simplex method. Computational complexity of the Simplex algorithm, Karmarkar's algorithm for LPP. 

Acquaintance to softwares like TORA and MATLAB.

Learning Outcome     

On successfulcompletion ofthe course,students should be able to:

1. Understand the terminologyand basic conceptsof various kinds of linear programming problems

2. model several linear programming problems and its dual

3.  Develop theunderstandingof about different solution methods to solve linear Programing problem.

4. Apply and differentiate the need and importance of various algorithms to solve linear programing problems

5.  employ programming languages to solve linear programing problems

Assessment Method

Assignments, Quizzes, Mid-semester and End-semester examinations

Course Number          

HS3103

Course Credit                

3-1-0-4

Course Title                  

International Trade and Investment

Learning Objectives

This main objective of this course is to provide a thorough analysis of modern trade theory, trade policy, and its welfare implications. We will analyze trade models in depth in order to discuss the benefits and consequences of international trade and globalization. We will examine factor movements, imperfect markets, and the effect of trade on wages and income distribution. Time permitting, the course might slightly delve into international finance in order to discuss different exchange rate regimes, their effect on monetary/fiscal policy, and economic integration.

Course Outline         

1. Basic Models of Trade

1.1 Ricardian Model: Comparative advantage.

1.2 One factor economy: production possibility frontier, relative demand and relative supply and autarkic terms of trade.

1.2 Trade in Ricardian world: determination of international terms of trade, complete specialiszation, gains from trade.

2. Resources, Comparative Advantage, and Income Distribution Model of two factor economy: Assumptions, Factor prices and commodity prices (Stolper-Samuelson effect)-correspondence, Resources & output, Rybzynski effect.

2.2 Effects of International Trade between two factor economies, Relative prices and the pattern of Trade, Trade and distribution of Income, Factor Price Equalization.

2.3 Empirical studies - Leontief Paradox.

3. The Standard Trade Model

3.1 Production Possibilities and relative supply, relative prices and demand, welfare effects of changes in terms of trade, determining relative prices.

Effects of exchange rate changes on domestic prices and terms of trade, Marshall-Lerner condition, J-curve effect.

3.2 Economic growth: shift of RS curve, growth and production possibility frontier, RS and terms of trade, International effects of growth, International transfers of income: shifting RD curve, Transfer problem, effects of transfer on terms of trade, Tariffs and export subsidies.

4. Trade Policy

4.1 Partial equilibrium analysis: Tariff- cost and benefit, effective rate of protection and intermediate goods, quota, tariff- quota equivalence and non-equivalence, export subsidy, voluntary export restraint.

4.2 Tariff & Import Quotas in presence of monopoly.

6. FDI and its impact on economy

7. Application of Trade maps and WITS data: to show trade relations empirically and validate the standard trade models.

Learning Outcome     

·       Understand, at the level of formal analysis, the major models of international trade and be able to distinguish between them in terms of their assumptions and economic implications

·                 Understand the principle of comparative advantage and its formal expression and interpretation within different theoretical models

·                 Be able to apply partial equilibrium and general equilibrium models in analysing the economic effects of trade.

·                 Be able to critically analyse the main arguments for protection and conversely be able to critically evaluate the relevance and realism of arguments for free trade

·                 Be familiar with the major recent developments in the world trading system, and be able to critically analyse key issues raised both by the current round of WTO negotiations and by the spread of regional trading arrangements

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS3104

Course Credit                

3-0-0-3

Course Title                  

Debates in Indian Economy

Learning Objectives

To provide students with the capacity to understand the key issues related to the Indian economy, the major policy debates in the Indian context.

Course Description    

The course provides basic knowledge of economics and its concepts which is essential for students to understand the Indian economy, how it has been shaped, what are the major watershed moments in the economy and its progress over time.

Course Outline         

i) issues in growth, development, sustainability and factors in developments; (ii) economic development since independence covering major features of Indian economy at independence, planning, market and the state, population and economic development: demographic trends and issues—education, health and malnutrition; (iii) growth and development under different policy regimes: growth and structural change, regional contrast, saving and investment, monetary, fiscal, budgetary developments, policies and fiscal federalism; (iv) assessment of Indian development experience—poverty, inequality, unemployment, labour market and employment: issues of employment and inclusiveness; and (v) comparative picture of Indian economy: international comparisons.

Learning Outcome     

·                Undergraduate students would be able to able to understand how the Indian economy is shaped.

·                Would be able to understand the major issues pertaining to India.

·                Develop an intuitive understanding of the functioning of the economy.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS3201

Course Credit                

3-1-2-5

Course Title                  

Categorical Data Analysis

Learning Objectives

•To introduce students to the wide variety of data which are binary or multichotomous.

• To equip students for big data framework which enables them to handle special format of spatial data.

Course Description    

This course helps students to discover the principles of binary or multichotomous variables. Given widespread use of such data in today’s world of Big Data, the course aims at equipping students with fundamentals of specific types of data.

Course Outline         

Module:1- Introduction to Data and its categorical nature, Tests of independence and association, Contingency tables and its tests and tests for small count. Collapsibility and graph

Module:2- Generalized linear models, Logistic regression model, Probit model and Tobit model for count data, analysis of ordinary variables and statistical inferences

Module:3- Multi-Category Logit model and its analysis and its applications, Discriminant functions and model selection and regularizations.

Learning Outcome     

Students will be equipped with special nature of data and how to analyse such data for statistical inference.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number

HS3202

Course Credit             

3-1-0-4

Course Title                  

Environmental Economics

Learning Objectives

Expose learners to the problems of environment and their economic costs, solutions and policies of amelioration.

Course Description    

The course helps students to understand the environmental impacts of development projects and the problems arising there from. How the social, economic and environmental impacts of such projects are assessed and resulting policies are framed is discussed in this course. It aids the understanding of how such frames, interests and power of various economic actors, as well as political institutions influence feasibility of both the projects and the policies.

Course Content         

Section I:

Introduction to climate change as an international and national issue; Theories of Environmental economics - demand and Supply in environmental goods, Market failure in the context of environment, Externalities.

Section II:

Climate policy cooperation - game theory, prisoner’s dilemma, free-riding;

Economic efficiency, carbon Abatement costs, social cost of carbon, discounting; CC policy process and its elements; Non-State Actors; Getting climate change on the policy agenda;

Section III:

Compensation/Loss & Damage - The economic impacts of climate change; externalities, cost effectiveness, carbon tax, cap-and-trade, induced innovation; Environmental impact and equity - economic incidence, environmental justice, residential sorting; Why climate policies fail?

Regulations: COAP-24, Command and control Vs. Market, Green credit

Learning Outcome     

·                 The student will be able to make informed choices on course of action (s) that would improve governance in climate related issues.

·                 Apply econometric models to arrive at costs and impacts of projects having environmental impact.

·                 Apply economic concepts to develop risk reduction strategies for climate related disasters.

Assessment Method

Assignments, Quizzes, Mid-semester examination and End-semester examination

Course Number

HS3203

Course Credit             

3-3-0-6

Course Title                  

Critical Economic Reading and Seminar

Such a course in line with our NEP, ensures that education has to go beyond the mere transmission of information from professor to student. More than an exercise in memorization or a purely cognitive transaction, education is meant to be a transformational experience that affects the students on all levels—cognitive, certainly, but also emotional and behavioral. The student who has been through this kind of experience will have had old ideas unsettled in the service of developing a fuller understanding of self and the world, and in service of helping that world. Seminars—small classes, typically driven by discussion and critical evaluation of seminal works in the area of Economics in which students often take on teaching roles and responsibilities—offer tremendous opportunities for students and educators to make learning experiential, meaningful, and lasting. But seminars don't run themselves, and this kind of learning doesn't just happen automatically. It comes out of organization, planning, and a thoughtful, responsive harnessing of the energy and interpersonal potential in the room.

The advantages of seminar courses are considerable:

Seminars and the resultant possibility of more student leadership, can engender a greater sense of community and belonging; everybody in the room has the chance to get to know one another better. Conversations can reasonably involve everyone and provoke deeper thoughts leading to better understandings. This mutual knowledge leads to whole-student education, inclusive pedagogy, and Ignatian pedagogy, all of which are rooted in an understanding of everyone in the learning community as distinct, complex individuals with varied backgrounds and perspectives. Meanwhile, focused discussions and other group meaning-making processes allow for a shared sense of purpose.

Such a course is much easier to foster active learning, whether in the form of discussions, activities, and role-reversal learning - having students take turns leading sessions themselves. And the intensity of these interactions ensures that learners can go beyond the transmission of knowledge to higher-order learning like analysis, application, and creation. When an instructor effectively facilitates rich discussion during class, the students are more apt to build upon the existing knowledge frameworks they continue to develop, and achieve better learning outcomes.

Seminars with active student voices give the teacher plenty of evidence of student learning, day in and day out, as well as of the success of the teacher's various pedagogical choices. And a vibrant back-and-forth makes it easy to ask for student input on elements of course design and learning outcomes.

Course Number          

HS3204

Course Credit                

3-1-0-4

Course Title                  

Indian Financial System

Learning Objectives

1.To comprehend notions and different aspects of monetary economics and relevant policy and its deep nexus with real economy and financial market.  

 2. To use economic theories and empirics to understand how monetary policy can be framed under different economic scenario so as to auger real and financial sector growth.

Course Description 

Money, Banking and Financial Institutions course is ever evolving and extremely relevant. This Foundation course will provide a broad overview of money’s role in economy and its relation with financial market. Students will also get exposure to roles of different institutions like central bank and NBFCs etc. in shaping the financial health of an economy in addition to private sector’s contribution.

Course Outline

I. Introduction: Money; Meaning, Functions and Classification; Evolution of money – Gresham’s law – Role of Money in Economy – Monetary Standards; Gold Standard and its abandonment – Cost of holding Money.

II. Inflation, Interest rate and Demand for Money: Meaning, Types and Effects – Theories of Inflation and Control measures; Inflation and Unemployment – Quantity theory of money and Liquidity preference theory; Post Keynesian theories of demand for money – Interest Rates; Determination – Theories of Interest rates – Interest rates structure in India – Appropriate interest rate policy – International interest rates.

III. Banking and Non – Banking Institutions: Institutional structure in India: Commercial, Cooperative banks and Private sector banks – Non – Bank Financial Intermediaries (Development Banks) – Finance Companies – Mutual Funds – Lease finance – Housing Finance – Venture Capital funds – Money Market Mutual Funds – Hedge Funds – Insurance companies – Infrastructure Finance Companies.

IV. Commercial Banks: Evolution of banking; Assets and Liabilities – Credit Creation; Money Multiplier; Deposit multiplier; Credit multiplier– Banker and Customer – Deposit Accounts – Cheques – Loans and Advances– Banking Reforms.

V. Central Banking: Role and Functions; Balance Sheet; Goals and Instruments of Monetary Policy; Effectiveness and Limitations of Monetary Policy with special reference to India – Government Bonds and Securities – Measures of Money Supply.

VI. International Markets and Financial instruments: Money markets - Bond markets - Equity markets - Property markets –Options, futures and other derivatives - Collective investment schemes - Overseas markets. Economic influences on investment markets: interest rates, inflation, exchange rates, demand and supply; International environment: Role of World Bank, IMF, Asian Development Bank and other agencies. Contemporary issues and trends: FII, FDI, Listing in international markets, GDR/IDR.

VII. Crisis of Banking

Learning Outcome     

1. Upon successful completion of this course, students will be able to
understand key theories and concepts of monetary economics and banking theory.

2. Moreover, the students are expected to have a clear understanding of the theory and its relevance to current events and concepts of monetary economics and banking theory.

Assessment Method

Quizzes, Assignments, Midterm, End Term 

Course Number          

HS3205

Course Credit                

3-0-0-3

Course Title                  

Health Economics

Learning Objectives

·                Develop in-depth knowledge of key economic principles and concepts related to the healthcare sector, such as supply and demand, efficiency and equity, and market failures

·                 Explore a nuanced perspective on healthcare financing systems and how they can be utilised in the pursuit of universal health coverage

·                 Gain insight into the complex healthcare labour market, including workforce planning and forecasting, workforce shortages, and the impact of external shocks

·                 Develop an understanding of the pharmaceutical market, including the key steps in the life cycle of a pharmaceutical product, and the economic theory underpinning these steps

·                 Cultivate a balanced view of health and social justice by assessing health inequalities and fairness, deconstructing the social determinants of health, and identify potential policy solutions to rectify inequalities in the system

Course Description    

This course uses economic principles and teaches how they relate to healthcare to explore the challenges facing the industry. Itengages with policy proposals designed to address inequality in the system. Alongside mechanisms such as supply and demand, it gives insight into healthcare financing systems and universal health coverage, and explores the complexities of the healthcare labour market. It develops a balanced view of health and social justice, allowing an assessment of the inequalities and social determinants of health.

Course Outline         

•Overview of Health Economics, Theories in health economics, Market for health service, State and Scope of Health Economics, Equity and efficiency of Health Economics, Difference between health and health care, Population, Health and Development.

• Epidemiology and Morbidity Transition, Mortality and Morbidity, Burden of Diseases, Concepts of DALY and QALY.

• Gender and Health: Women’s Health: A life cycle perspective- Early years, Reproductive years, Old age- Women’s mental health.

• Provision of public health: Political economy of state intervention in health, Preventive and curative care in public health.

• Private provision in health and the globalization- Experience in different

Countries,

• India’s experience in health status- Public expenditure in health

•Demand for health care: Health care as an input of health- Peculiarities of health care demand- Notion of ‘need’- Induced demand Theory.

• Providers of medical care- physicians: Payment Schedules, Group practice.

• Providers of medical care: Hospitals, Pharmaceutical producers- R&D, pricing.

• Providers of medical care: Insurance- uncertainty and moral hazard, privateinsurance, Social insurance.

• Indian health market: Utilization and efficiency in Indian health care facilities

Learning Outcome     

Students will be able to:

·                Apply the fundamental knowledge of economics inhealthcare for effective policy decisions.

·                Identify, formulate, and analyse economic aspects in handling public health problems leading to substantiatedconclusions through real-world evidence.

·                Apply contextual health economics domain knowledge to assess societal, health, safety, legal, and cultural issues andthe consequent responsibilities and societal well-being.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS4101

Course Credit                

3-1-0-4

Course Title                  

Game Theory

Learning Objectives

·       This course aims to teach some strategic considerations to help make strategic choices.

·       It aims to predict how other people or organizations behave when they are in strategic settings.

·       It aims to apply these tools to settings from economics and from elsewhere. The course will emphasize examples.

Course Description    

This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signalling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.

Course Outline         

Solution Concepts for Static Games:Complete information: rationalizability, Nash equilibrium, epistemic foundations, Incomplete information: Bayesian Nash equilibrium, interim correlatedrationalizability;

Solution Concepts for Extensive-form Games:Backwards induction, subgame perfection, iterated conditional dominance, Bargaining with complete information

Equilibrium Concepts for Games with Imperfect Information:

Signaling and Forward Induction: Stable equilibrium, the intuitive criterion, iterated weak dominance, epistemicfoundations

Repeated Games:Bargaining

Reputation Formation:Reputation with short-lived opponents, Screening and reputation in bargaining

Games of incomplete information: Auctions, Reputation

Asymmetric information: Adverse selection and moral hazard.

Learning Outcome     

·                 Have knowledge of fundamental concepts of non-cooperative game theory.

·                 Have the ability to apply solution concepts to examples of games, and to state and explain them precisely.

·                The ability to solve unseen games that are variants of known examples

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number

HS4102

Course Credit             

3-1-0-4

Course Title                  

Energy Economics

Learning Objectives

·       Explores key energy economics issues, including pricing mechanisms, macroeconomic impacts of energy price shocks, the importance of energy carriers in developing and developed economies, and energy security.

·       Analyzes policy options for addressing renewable energy development, environmental sustainability, and green growth.

Course Objectives:

This course explores the theoretical and empirical perspectives on individual and industrial demand for energy, energy supply, energy markets, and public policies affecting energy markets. It discusses aspects of the oil, natural gas, electricity, and nuclear power sectors and examines energy tax, price regulation, deregulation, energy efficiency and policies for controlling emission.

Course Content         

Introduction and Background, Review of Price Formation in Competitive Markets, Energy Demand: Short Run and Long Run Price and Income Elasticities, Energy Supply and the Economics of Depletable Resources, World Oil Markets and Energy Security,

Natural Gas Price Regulation, Deregulation and Markets,

Electricity,

Risk Management,

Energy and Climate Change

Internalizing Environmental Externalities with a Focus on CO2 Emissions Cap and Trade Mechanisms

Coal

Nuclear Power

Energy Efficiency Policies

Renewable Energy Policies

Learning Outcome     

Upon successful completion, students will have the knowledge and skills to:

·       Demonstrate an understanding of energy markets and the role of energy in the economy.

·       Identify and apply a knowledge of methods to assess alternative energy projects, technologies, and policies.

·       Examine the economics of energy production and consumption.

Assessment Method

Mid Semester Examination (20%), End Semester examination (40%), Class test & quiz (20%), Project (20%)

Course Number          

HS4103

Course Credit                

3-1-0-4

Course Title                  

Labour Economics

Learning Objectives

·       To discuss recent Labour Market trends.

·       To understand wage theories.

·       To understand Labour Market Segmentation Theories.

·       To analyse the determinants of the various dimensions of labour supply and demand, which interact to determine wages, employment &unemployment.

·       To discuss the role of collective bargaining in the labour market.

·       To analyse the importance of skill upgradation in the wake of decent work and globalization.

·       To develop the understanding of Social Security in the labour market.

Course Description    

The course introduces students to the exciting applied field that is labour economics. The leading idea throughout the course is that economics is an empirical science (not a set of theorems) meant to explain actual behaviour. In addition, the labour market is the playing field for numerous important economic policies and institutions: payroll taxes, minimum wages, collective bargaining, etc. A major task for labour economists is to explain how markets function under these regulations.

Course Outline         

Employment and unemployment, Labour Demand -Marshall’s Rule, Labour Supply, The neoclassical theory of labour supply, Preferences and budget constraint. Extensive and intensive margins. Estimating labour supply elasticity,the competitive labour market,Operation of the labour market under different imperfect market structures, Union behaviour; Investment in human capital and skill formation - Investment in education and training,the signalling debate, Wage dispersion, Segmented labour markets, Women’s participation in the labour force, Discrimination; Labour migration, Child labour, Characteristics of the Indian labour force, Wages and employment in agriculture, Industry and services, Importance of the informal sector, Employment and labour welfare policy, Globalisation and labour market reforms, Wage Inequality, Efficiency Wage theory, Introduction to wage and wage rate data: PLFS, New Labour Codes, Indian Labour market, Gig Economy.

Learning Outcome     

·                 Be able to explain, on the supply side, the factors that affect the decision of an individual to work

·                Be able to explain, on the supply side, the factors that affect the decision of an individual to choose a particular job or a career path

·                 Be able to explain, on the supply side, the factors that affect the decision of an individual to acquire education and on-the-job training to provide effort in a particular job

·                 Assess how governments’ policies could affect the decisions of the individual.

·                Be able to explain, on the demand side, the factors that affect the decision of a firm to hire and fire workers

·                Be able to explain, on the demand side, the factors that affect the decision of a firm to offer jobs with different characteristics (amenities and training for example)

·                Be able to explain, on the demand side, the factors that affect the decision of a firm to discriminate among different workers

·                Explain, on the demand side, the factors that affect the decision of a firm to choose particular compensation policies and to offer different career paths

·                Evaluate how government policies and institutions (such as the unions) affect the decisions of the firm

Assessment Method

Quizzes, Assignments, Mid Term, End Term

Course Number          

HS4104

Course Credit                

3-0-0-3

Course Title                  

Business Law and Economics

Learning Objectives

Students will gain an understanding of the economic and legal aspects of business decisions and of how the law affects businesses and institutions.

Course Description    

The course will teach students to analyse the legal aspects of firms, economies and property. It will also give students an exposure to the economics behind bargaining, contracts and punishment strategy.

Course Outline         

Introduction to Law and Economics: Economic analysis of law and the metric of efficiency; introduction of examples; principles and theories; intellectual history; efficiency and equity.

An Introduction to Law, Legal Institutions and the Legal Process

Civil law and common law, institutions of the court system, the nature of legal dispute, evolution of legal rules, the formation of law, legal terminology. Why sue? Information exchange, settlement bargaining, trial and appeal, empirical assessment of legal process.

An Economic Theory of Property Legal concept of property, bargaining theory, protection of property, public versus private goods, the Coase theorem.

An Economic Theory of Contract: Bargaining theory with contract, an economic theory of contract.

An Economic Theory of Tort Law: Defining tort law, economics and tort liability.

Crime and Punishment: Defining criminal deterrence and effective punishment, explain declining crime and efficient law enforcement and administration.

Learning Outcome     

Students will learn to discover how changes in policies and external factors impact consumer demand, prices, costs, competition, and financial conditions.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS4105

Course Credit                

3-1-0-4

Course Title                  

Advanced Macroeconomics

Learning Objectives

The course will make students familiar with key concepts in modern quantitative macroeconomics and give students a thorough understanding of up-to-date research in a few selected topics. Particular attention will be paid to using economic theory, specifically equilibrium models with heterogeneous agents, to interpret data. The course will be relevant to students wishing to continue to study economics at a postgraduate level, as well as those interested in policy research involving quantitative economic modeling.

Course Description    

This course seeks to develop an understanding of Macroeconomic theory as a systematic way of analysing the behaviour of the macro economy. The course focuses on two key issues of economic policy debate, namely economic growth and monetary policy. The emphasis is on the recent developments in macroeconomic theory with particular reference to current problems.

Course Outline         

1.Tools for Studying Dynamic Economies

Topics include: Dynamic Programming; Numerical Dynamic Programming; Neoclassical Growth and Search, Solow-Swan model and the infinite horizon Cass-Coopmans-Ramsey, overlapping generations Diamond model,

Matching and Unemployment – Efficiency Wage Theory

2. Self Insurance and Incomplete Markets

Topics include: Self Insurance (partial equilibrium), Bewley Models

3. Inequality in the Macroeconomy

Topics include: Measuring risk, endogenously incomplete markets

4. Equilibrium Unemployment Theory

Topics include: Theory and applications to European unemployment and business cycle dynamics

Learning Outcome     

·       Interpret and analyze different models of economic fluctuations

·       Analyze and extend models of long-run economic development

·       Describe models in game theory, especially as they relate to economics

·       Manipulate economic models to incorporate changes in economic policy

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS 4101           HS4106

Course Credit                

3-0-2-4            3-1-0-4

Course Title                  

Financial Analytics

Learning Objectives

1.To understand different notions of time series theories and it application in Finance.

2. To use different time series and statistical techniques to explain behaviour of financial markets and interconnectedness of these markets.

Course Description    

The course mainly deals with fundamental statistical modelling for financial time series techniques. This includes time series pattern recognition at univariate as well as multivariate framework and out of sample forecasting. Interconnected markets can be analysed with respect to volatility spillover etc.

Course Outline         

Module 1: Notion of Ensemble and realization in financial time series. Convergence and parsimony of a financial variable and its transformation for cleansing of data. Distributions and statistical properties of financial variables. Concept of fat tail and irregularities in financial data.

Module 2: Statistical analysis of univariate model with Box-Jenkin's approach and prediction of out­ of-sample forecasting of stock prices. Seasonality (additive and multiplicative form) of financial data. Trend (linear and noon-linear) analysis of stock price. Techniques to de-seasonalize and de-trend the data. Analyzing financial cycle and structural change and event analysis.

Module 3: Concept of financial contagion across countries and spillover effect. Multivariate analysis for analyzing contagion. Intervention analysis for multi-country financial index and it implication. Dynamic forecasting of contagion and impulse through intervention analysis and its time series variants. Modelling market integration and error correction mechanism.

Module 4: Modelling volatility and risk of financial indices. Autoregressive Conditional Heteroscedasticity model and its variants like GARCH, EGARCH, TARCH, IGARCH etc. Dynamic and constant conditional correlation GARCH model. Volatility smile and implication of Greek letters in financial market.

Learning Outcome     

Students will be able to:

1. Upon successful completion of this course, students will be able to comprehend key statistical models and time series application in Finance.

2.Further, the course also offers hand-on tools to analyze financial market and forecasting of critical financial variables. Growing demand for expertise in the domain of finance, both professional as well as academics, will be served at preliminary level through this course.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS 4103          HS4107

Course Credit                

3-0-2-4            3-1-0-4

Course Title                  

Behavioural Economics and Finance

Learning Objectives

·                 To learn a new domain of modern economics and finance which challenges traditional theories of decision making of different economic entities.

·                 To equip learners with theories which encapsulates economic rationale alongside ‘irrational’ psychological biases and ‘anomalies’

·                 To analyze operations of markets under varying competitive conditions and make optimal business decisions.

Course Description    

The course will provide a broad understanding of behavioral economics and finance where rational decision making of economic entities will be analyzed from the perspective of heuristic ways, cognitive biases, and psychological kinks.

Course Outline         

Introduction to Behavioural Economics and Finance;

Rational Choice theory and Its Limitations;

Understanding decision science;

Key themes and issues in neuro-economics;

Choice under uncertainty;

Behavioural biases of individuals: cognitive errors and emotional biases;

Psychological biases and Prospect Theory;

Heuristics and Biases: Challenges for Rationality;

Behaviourally modified asset allocation;

Money Illusion, Asset Price, Animal Spirit and Market Anomalies in world of Finance;

Regulation of behavioural factors in analyst forecasting and portfolio construction;

Consumption and Savings Behaviour;

Nudge and Policy Implication.

Learning Outcome     

Upon successful completion of the course one should be able to-

●                Understand how traditional economic and financial theories are revised to address behavioural anomalies.

●                Apply critical behavioral concepts in decision making.

●                Critically discuss and deliberate suitable policies where market failure is plausible.

Assessment Method

Quizzes, Assignments, Midsem and End Semester

Course Number          

HS4109

Course Credit                

3-1-0-4

Course Title                  

Corporate Finance

Learning Objectives

The core objective of the course is to make students aware of corporate finance theories and global practices along with Indian experiences.

Students will comprehend basic notions of Time value of money, risk management and corporate capital structure etc.

Course Description    

1)     Time Value of Money, interest rate, discounting, Spot concepts

2)     Fixed Income Securities, Arbitrage, Bond and Yield curve

3)     Valuation of Stock, capital Gain, DD model,

4)     Risk and the Cost of Capital and CAPM and APT

5)     Corporate Capital Structure

Equity Versus Debt Financing)

 (Modigliani-Miller I: Leverage, Arbitrage, and Firm Value)

 (Modigliani-Miller II: Leverage, Risk, and the Cost of Capital)

 (The Interest Tax Deduction)

 (Valuing the Interest Tax Shield)

(Recapitalizing to Capture the Tax Shield)

(Personal Taxes)

(Optimal Capital Structure with Taxes)

(Default and Bankruptcy in a Perfect Market)

(The Costs of Bankruptcy and Financial Distress)

(Financial Distress Costs and Firm Value)

(Optimal Capital Structure: The Trade-off Theory

6)     Risk Management

(Insurance)

(Commodity Price Risk)

(Exchange Rate Risk)

(Interest Rate Risk)

(Option Basics)

(Option Payoffs at Expiration)

(The Binomial Option Pricing Model)

(The Black-Scholes Option Pricing Model)

Course Outline         

This course presents the foundations of finance with an emphasis on applications vital for corporate managers. We discuss most of the major financial decisions made by corporate managers both within the firm and in their interactions with investors. Essential in most of these decisions is

the process of valuation, which will be emphasized throughout the course. Topics include criteria for making investment decisions, valuation of financial assets and liabilities, relationships between risk and return, capital structure choice, payout policy, the effective use and valuation of derivative

securities (futures, options, and convertible securities), and risk management.

Learning Outcome     

On successful completion of the course, students will be able to:

●          Assess practical importance of differ notions of corporate finance

●          Gauge Risk and mitigate such risk for portfolio’s optimal return as well companies’ profit point of view.

●          Provide solutions to companies’ financial issues

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number

HS4201

Course Credit             

3-1-0-4

Course Title                  

Institutional Economics

Learning Objectives

to form a detailed view about current development of new institutional theory, about main instruments and approaches

to develop competences, which allow to implement the methodology of new institutional economics towards solving practical problems

to develop competencies, which allow implementing the methodology of new institutional economics towards solving practical problems

Course Objectives:

The main objective of this course is to demonstrate how institutions work in various spheres, what happens if they become weak or inefficient. It discusses the institution of property rights and contracts, and analyze modern cases, with evidence of the fact that institutions are vitally important for the prosperity of countries as well as for making the simplest transactions between citizens possible. The Course gives an overview of modern institutional theory, its development and current state, its basic instruments and approaches. Special focus is made on ways to use these instruments and approaches for solving real-life problems.

Course Content         

The New Institutional Economics

Property Rights I: Where it all began; Property Rights on Historical Frontiers; Property Rights on Current Frontiers:

Why Don’t We Get It Right?

Why do firms exist? Insights from the NIE for Business Management and Strategy, Technology,

Transaction Costs,

Transaction Costs and Contracts in Agriculture, Agricultural Contracts and the Growth of the Welfare State,

Norms and Contracts

Economic Organization

Bureaucracy Government and State

Law, Economics, and Organization

Regulation

Empirical Institutional Economics

Learning Outcome     

The course will train the students about the important roles played by the property rights, contracts, transaction costs, and norms for economic growth and market exchanges.

Assessment Method

Mid Semester Examination (20%), End Semester examination (40%), Class test & quiz (20%), Project (20%)

Course Number          

HS4202

Course Credit                

3-1-0-4

Course Title                  

Public Finance and Policy

Learning Objectives

1.A basic understanding of the elements of how government finances it activities and reform agendas that typically succeed versus those that do not, and an analytical framework for interpreting how and why this differs by country.

2. Evidence-based insights about the connection between the quality and the outputs of systems in functional areas such as budgeting, accounting, auditing and procurement.

Course Description

Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming,Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations.

Course Outline         

Introduction to public economics -the nature, scope and significance of public economics, Forms and Functions of Government, Different forms of government – unitary and federal. Tiers of government inthe federal form- Central, State, Local; Functions of Government - Economic functions -allocation, distribution and stabilization; Regulatory functions of the Government and its economic significance, Federal Finance - Federal Finance: Different layers of the government, Inter governmentaltransfer—horizontal vs. vertical equity, Grants—merits and demerits of various types of grants—unconditional vs.conditional grants, tied grants, matching grants; Public Goods and Public Sector -concept of public goods—characteristics of public goods, national vs. localpublic goods, determination of provision of public good, Externality, concept of social versus private costs and benefits, merit goods,club goods., Provision versus production of public goods. Market failure and publicprovision,pricing of public goods—vertical summation; Government Budget and Policy - government budget and its structure – Receipts and expenditure – conceptsof current and capital account, balanced, surplus, and deficit budgets, concept ofbudget deficit vs. fiscal deficit, functional classification of budget,concept ofRevenue Deficit; Tax Structure, Distribution and Stabilization.

Learning Outcome     

1.Articulate informed opinions on advanced topics and build convincing argumentation on controversial matters of economic policy.

2.Link different and contradictory theories and identify their strengths and shortcomings describing complex socio-economic phenomena.

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number          

HS 4205

Course Credit                

3-1-0-4

Course Title                  

Mechanism Design

Learning Objectives

This course is an introduction to mechanism design. This course covers introductory and advanced materials on the theory

of mechanism design. The aim of the course is to build a solid background for economics students in mechanism design as well as introduce selected material on the frontiers.

Even though it is targeted to graduate students who would like to do theoretical work, other

students may benefit as well.

Course Description    

The goal is to equip students with a general purpose tool to analyze strategic behavior in multi-agent interaction. Though primarily a topic of economic flavor, it has significant applications in the decision process of a multi-agent environment like sponsored advertisements, crowdsourcing, social media, internet-based trade, and several settings of social choice and welfare. This course is a backend of such applications and discusses the mathematical details of analyzing and designing strategic interactions.

Course Outline         

Introduction to mechanism design, revelation principle, introduction and proof of Arrow’s impossibility result, introduction to social choice setup

Introduction and proof of Gibbard-Satterthwaite theorem, domain restriction, median voter theorem

Task sharing domain, uniform rule, mechanism design with transfers, examples of quasi-linear preferences, Pareto optimality and Groves payments

Introduction to VCG mechanism, VCG in Combinatorial allocations, applications to Internet advertising, slot allocation and payments in position auctions, pros and cons of VCG mechanism

Affine maximizers, single object allocation, Myerson’s lemma, optimal mechanism design

Single and multi-agent optimal mechanism design, examples of optimal mechanisms, Multiple agent optimal mechanism design.

Learning Outcome     

Students will have

·                 understanding of statistics.

·                 theoretical understanding of estimation.

·                 theoretical understanding of hypothesis testing.

·                 understanding of nonparametric methods.

·                 theoretical understanding of basic Bayesian methods.

Assessment Method

Quizzes, Assignments, Midterm, End Term.

Course Number          

HS 4206

Course Credit                

3-1-0-4

Course Title                  

Financial Market and Derivative

Learning Objectives

The major objective of the course is to develop an analytical and critical thinking abilities of students in the dynamic financial world.

Students will comprehend basic notions of risk management and utility of derivatives to mitigate potential risks related to finance activities.

Finally, the course offers students ability to explore and construct arbitrage, trading and hedging strategies.

Course Description    

The course introduces three general classes of derivative instruments: forwards/futures, options, and swaps. Within each class, students will be discussed specific derivative products such as commodity, index and interest rate forwards/futures, equity/index options, currency and interest rate swaps etc. The major arbitrage, trading and hedging techniques are introduced throughout the course for each type of the derivative instrument. Students will also learn derivatives’ pricing and valuation models using conceptual problems and practical assignments.

Course Outline         

Introduction to derivative markets

Vocabulary of the market

Trading of financial assets and some discussion of commodities

Stock, bond, currency markets

Basic aspects of derivatives and defining basis risk

Buying and shorting financial assets

Discounting and the time value of money Annual discounting

Periodic compounding

Continuous compounding

Changing interest rates

Pure discount vs coupon paying bonds

Present Value (PV) and Future Value (FV)

Leverage

Forward and Futures Markets

How time value is reflected in forward markets

Cross-market interest rates and currency forwards

Settlement issues for Forward Markets

How futures markets differ from forwards

Futures on indices

Pain Vanilla Options and Basic Strategies

Payoffs and profits from options, futures, and forwards

Insurance strategies

Spreads, straddles, and related strategies

Simple hedging

Put-Call parity

Style and maturity

Black-Scholes valuation

Basic formula

Volatility, historical and implied

The Greeks

Dynamic delta hedging and extended hedging

Volatility “smirks” and “smiles”

The VIX ‘fear gauge’

Interest rate swaps and related topics (M Ch. 7, 8)

The yield curve and discounting

Valuation of the two sides

The swap rate and the swap rate term structure

An introduction to swap options

Learning Outcome     

·        Discuss the major varieties of derivative instruments (forwards, futures, options, swaps), futures, option and swap markets; Understand the pricing mechanism of different derivatives products;

·       Understand the nature of swap products; distinguish between different types of swaps; Learn about past financial disasters (derivatives related)

·       Determine option prices

·       Be able to construct hedging strategies

·       Apply the mechanics of Futures and Options markets via Stock track portfolio simulation

Assessment Method

Quizzes, Assignments, Midterm, End Term

Course Number

HS 4207

Course Credit             

3-1-0-4

Course Title                  

Wealth Management

Learning Objectives

·       Apply risk and return principles to investment decision making

·       Learn about investment psychology, including the role of risk perception, optimism, and herding behavior in investment decisions.

·       Learn the principles of wealth management and the strategies used to manage and grow wealth.

Course Objectives:

The course provides a comprehensive introduction to the financial planning and wealth management space. Students learn what wealth management entails, the different client segments in the wealth management universe, and the career paths available within financial planning and wealth management. This course will introduce the skills that are needed to succeed as a financial advisor or private banker and will walk the participants through the various planning services provided by wealth managers. Finally, it steps through the traditional and alternative asset classes accessible at the different levels of wealth management.

Course Content         

Introduction to Financial Planning, Investment Planning & Asset

Management

Regulatory Environment & Legal Compliances,

Risk Management & Insurance

Estate and Tax Planning

Cash Management

Behavior Finance

Net Worth and Investible Assets

Wealth and Estate Planning Services

Commodities – G, M, E, O investment

Financial Planning for Life Stages, Diversified Investment Management and Analysis.

Investment Management

Learning Outcome     

The participants will be able to

1. describe the various services that make up wealth management

Outline the various career paths within wealth management

2. Understand how wealth management is segmented by client type

3. Explain the skills needed for success in wealth management

4. Build a simple retirement planning model in Excel

5. Outline the various asset classes available to wealth management clients

Assessment Method

Mid Semester Examination (20%), End Semester examination (40%), Class test & quiz (20%), Project (20%)

Course Credit

L-T-P-W: 3-0-0-3

Course Title

LITERATURE: VOICES AND CULTURES

Learning Mode

Offline

Learning Objectives

This course aims to help the students (a) gain the ability to recognize and conduct a critical analysis of significant cultural themes within the studied works, encompassing topics such as identity, diversity, power dynamics, ideology, and hegemony.; (b) assess how suppressed voices, particularly those of women and marginalized groups, are portrayed and represented in the texts. Through this evaluation, they will grasp the importance of amplifying and giving voice to underrepresented communities, fostering a deeper understanding of their experiences and perspectives.; (c) explore the profound importance of diverse perspectives within the literary works. The students will recognize how multiple viewpoints enrich their understanding of complex themes related to culture, identity, and power dynamics, providing a more comprehensive and nuanced portrayal of the human experience.; (d) to engage with the historical and social contexts pertinent to each literary work, students will gain a deeper understanding of how societal norms and historical events influence the development of themes and character interactions. This exploration will allow them to contextualize the stories within broader historical narratives, fostering a more insightful interpretation of the texts. Through an in-depth exploration of diverse literary works, students will cultivate a heightened sense of empathy and appreciation for various cultures and experiences. They will discern the vital role of literature as a medium for showcasing the intricacies of human diversity and recognize the significance of inclusivity in both literary representation and societal discourse. This scholarly engagement will lead to a more profound comprehension of the complexities of cultural pluralism, encouraging students to embrace a more tolerant and compassionate worldview.

Course Description

Through this engaging and thought-provoking course, students will travel through a multitude of literary masterpieces that intricately weave together cultural themes, ideology, power dynamics, and voices of oppressed women and underdogs in a captivating literary journey. A multitude of cultural narratives will unfold within the course, from the graphic novel Maus to the timeless classic Pride and Prejudice, from the heartbreaking saga of “The Kite Runner” to the inspirational tale of “The Color Purple,” and from the touching memoir “Untouchables” to the evocative Collection of Poetry by Sarojini Naidu and the enriching Japanese manga Your Name by Makoto Shinkai. Students will discover the rich tapestry of human experiences across a wide range of backgrounds and contexts.

Course Outline

   Module 1: Introduction to Culture, Identity & Power

·    Defining culture and its significance in literature

·    Unraveling power dynamics in literary works

·    Examining the concepts of ideology and hegemony

·    Identity – definition, theories, identity theory and social identity theory

   Module II: Empowering Suppressed Voices

·        Amplifying the voices of suppressed women and underdogs

·        Feminist voices and gender roles in literature

·        The voice of the ‘suppressed others’

   Module III: Disruption of Traditional Roles

·  Challenging societal norms and traditional roles

·  Socio-cultural implications of role transformations

Module IV: Cultural Context and Historical Significance

·  Understanding the historical and social contexts of each literary work

·  How cultural settings influence the narrative and themes

·  Cultural representations and their relevance in contemporary contexts

   Selected Readings

Austen, Pride and Prejudice (movie)

Ibsen, A Doll’s House

Alice Walker, The Color Purple

Mulk Raj Anand, Untouchable

Sarojini Naidu, The Palanquin Bearers, The Bangle Seller

Kamala Das, An Introduction

Khaled Hosseini, The Kite Runner

Makoto Shinkai , Your Name

Art Spiegelman, Maus

Amar Chitra Katha

Vijay Tendulkar, Silence! The Court is in Session!

Learning Outcome

1.     Upon completion of the course, students will have gained the ability to recognize and conduct a critical analysis of significant cultural themes within the studied works, including topics such as identity, diversity, power dynamics, ideology, and hegemony.

2.     students will be able to assess how suppressed voices, particularly those of women and marginalized groups, are portrayed and represented in the texts. Through this evaluation, they will develop an understanding of the importance of amplifying and giving voice to underrepresented communities.

3.     By engaging with the historical and social contexts pertinent to each literary work, students will have gained a deeper understanding of how societal norms and historical events influence the development of themes and character interactions. This exploration will enable them to contextualize the stories within broader historical narratives, fostering a more insightful interpretation of the texts.

4.     Through this process, they will foster a deeper understanding of the profound importance of embracing diversity and inclusivity within both literature and society, fostering a more compassionate and open-minded perspective towards the world around them.

Assessment Method

Class test + Quiz = 20%; Mid-semester = 30%; Assignment = 10%;

End semester = 40%

Course Number

HS2107

Course Credit

L – T – P – W: 3-0-0-3

Course Title

Diasporic Literature from South Asia

Learning Mode

In-Person

Learning Objectives

This course introduces students to the well-known literary works of some prominent authors of the South Asian (India, Bangladesh, Sri Lanka, and Pakistan) Diaspora. This course will help to examine the themes of home and exile, history and memory, nostalgia and dislocation, and feature in the literary-cultural structuring of diasporic experiences.

Course Description

Diaspora highlights the numerous migrant communities' inescapable experienced trans-local experiences that go beyond the boundaries of the nation-state. The course will investigate the politics of multiculturalism, questions of nostalgia, complex dynamics of co-ethnic identification, and the inter-generational shifts amongst other issue of diaspora.

Course Outline

Module-1: Introduction to the South-Asian Diaspora Studies

Key concepts of South-Asian Diaspora Studies (identity, memory, nostalgia, politics of multiculturalism, the heterogeneity of diasporic groups, especially by gender, class, sexuality, caste, and religion, the role of language and other cultural practices in migrant experiences)

1.     Sangay K. Mishra’s Desi’s Divided: The Political Lives of South Asian Americans (2016)

2.     Nirmal Puwar and Parvati Raghuram’s South Asian Women in the Diaspora (2003)

3.     Vijay Mishra’s The Literature of the Indian Diaspora: Theorising the Diasporic Imaginary (2007)

Module-2: Introducing Writers of the South-Asian Diaspora

1.     Kamila Shamsie’s Salt and Saffron (2000)

2.     Amitav Kumar’s Husband of a Fanatic (2004)

3.     Nikesh Shukla’s Brown Baby: A Memoir of Race, Family and Home (2021)

4.     Shehan Karunatilaka’s The Seven Moons of Maali Almeida (2020)

Module 3: Understanding Diaspora Studies through Cinematic Texts:

1.     The Namesake (2007), directed by Mira Nair and adapted from Jhumpa Lahiri’s debut novel The Namesake

2.     Airlift (2016), directed by Raja Krishnan Menon

3.     Titas Ekti Nodir Nam (A River Called Titas, 1973), directed by Ritwik Ghatak

4.     Bend It Like Beckham (2002), directed by Gurinder Chadha

5.     1947 Earth (2009), directed by Deepa Mehta (film adaptation of Bapsi Sidhwa’s novel Ice Candy Man)

Module 4: Short Fictions from South Asian Diaspora:

1.     Rohinton Mistry’s Tales from Firozsha Baag (1987)

2.     Bharati Mukherjee’s Jasmine (1989)

Module 5: Poems from South Asian Diaspora

1.     Michael Ondaatje’s “Handwriting” (1999)

2.     Vijay Seshadri’s 3 Sections: Poems (2013)

3.     Sujata Bhatt’s Search for My Tongue (1988)

Learning Outcomes

Develop an appreciation of the interplay between these literary texts and their historical, political, and cultural contexts to gain insight into South Asia's intricate, traumatic, and fragmented history.

Assessment Method

Class test & quiz (20%), Assignment (15%), Mid-term examination (25%), End term examination (40%)

Course Number

HS 2108

Course Credit

L-T-P-W: 3-0-0-3

Course Title

Soft Skills

Learning Mode

Offline

Learning Objectives

This course aims to help the students (a) develop their soft skills; (b) enhance oral communication skills by honing public speaking abilities, acquiring strategies to deliver persuasive presentations, and cultivating a polished etiquette; (c) foster team building and leadership skills; (d) strengthen personality and stress management skills; (e) develop adeptness in written communication for business purposes, negotiations and critical and creative thinking.

Course Description

This academic course on soft skills aims to equip students with skills for professional settings. By focusing on essential principles of leadership, stress management, thinking and providing practical experiences, students develop clarity, precision, and confidence in their personalities. Through interactive discussions and exercises, students enhance critical thinking and adaptability in diverse contexts. Upon completion, students will excel in formal presentations,

group discussions, and persuasive writing, enhancing their outlook.

Course Outline

Unit I: Soft Skills: Definition, types and importance of soft skills at workplace. Professionalism and Ethical considerations in Communication at Workplace - Use of Technology in Communication

Unit II: Intercultural Communication - Interpersonal communication – self presentation - self in relationship – perception – processes of perception – conflict resolution – Thinking and Problem Solving - negotiation skills.

Unit III: Team Building and Leadership Skills: Role and Functions of a Leader, Principles of Leadership, Attributes of Leadership, Group Discussion, and Meeting Management. Emotions and Managing emotions – Conflict and power – managing conflict

Unit IV: Public Speaking: Speaking to one and to one thousand, Combating Glossophobia, Professional Presentations; Audience Awareness, Voice and Vocabulary, Silence and Pauses, Signposts. Interviews and its types, Steps before, during and post interview.

Unit V: Personality Development and Stress Management: Theories of Personality development (Freud, Jung, Eysenck, Carl Rogers and Maslow), Reasons and Remedies of Stress. Negotiation Techniques- Positive Thinking

Unit VI: Emotional Intelligence: Definition and Characteristics of Emotional Intelligence, Benefits of Emotional Intelligence – self-awareness, Developing personal authenticity – building an emotionally intelligent team - Measures to improve Emotional Intelligence, De Bono’s Six Thinking Hats. Johari Windows - Lateral and Critical Thinking: Techniques.

Unit 7: Problem Solving

What is a problem?

Identifying a problem – data collection methods and tools – 5 Whys – drill down technique – case and effect diagram

Prioritizing problem – pareto’s principle

Generating solutions – making decisions - Implementing solutions Evaluating solutions

Unit 8: Time Management What is Time Management? Time Management Strategies Stumbling Blocks in Time Management Task Prioritization and Delegation Technology and Time Management

Course Number

HS 2108

Course Credit

L-T-P-W: 3-0-0-3

Course Title

Soft Skills

Learning Mode

Offline

Learning Objectives

This course aims to help the students (a) develop their soft skills; (b) enhance oral communication skills by honing public speaking abilities, acquiring strategies to deliver persuasive presentations, and cultivating a polished etiquette; (c) foster team building and leadership skills; (d) strengthen personality and stress management skills; (e) develop adeptness in written communication for business purposes, negotiations and critical and creative thinking.

Course Description

This academic course on soft skills aims to equip students with skills for professional settings. By focusing on essential principles of leadership, stress management, thinking and providing practical experiences, students develop clarity, precision, and confidence in their personalities. Through interactive discussions and exercises, students enhance critical thinking and adaptability in diverse contexts. Upon completion, students will excel in formal presentations,

group discussions, and persuasive writing, enhancing their outlook.

Course Outline

Unit I: Soft Skills: Definition, types and importance of soft skills at workplace. Professionalism and Ethical considerations in Communication at Workplace - Use of Technology in Communication

Unit II: Intercultural Communication - Interpersonal communication – self presentation - self in relationship – perception – processes of perception – conflict resolution – Thinking and Problem Solving - negotiation skills.

Unit III: Team Building and Leadership Skills: Role and Functions of a Leader, Principles of Leadership, Attributes of Leadership, Group Discussion, and Meeting Management. Emotions and Managing emotions – Conflict and power – managing conflict

Unit IV: Public Speaking: Speaking to one and to one thousand, Combating Glossophobia, Professional Presentations; Audience Awareness, Voice and Vocabulary, Silence and Pauses, Signposts. Interviews and its types, Steps before, during and post interview.

Unit V: Personality Development and Stress Management: Theories of Personality development (Freud, Jung, Eysenck, Carl Rogers and Maslow), Reasons and Remedies of Stress. Negotiation Techniques- Positive Thinking

Unit VI: Emotional Intelligence: Definition and Characteristics of Emotional Intelligence, Benefits of Emotional Intelligence – self-awareness, Developing personal authenticity – building an emotionally intelligent team - Measures to improve Emotional Intelligence, De Bono’s Six Thinking Hats. Johari Windows - Lateral and Critical Thinking: Techniques.

Unit 7: Problem Solving

What is a problem?

Identifying a problem – data collection methods and tools – 5 Whys – drill down technique – case and effect diagram

Prioritizing problem – pareto’s principle

Generating solutions – making decisions - Implementing solutions Evaluating solutions

Unit 8: Time Management What is Time Management? Time Management Strategies Stumbling Blocks in Time Management Task Prioritization and Delegation Technology and Time Management

Course Number

HS2110

Course Credit

L-T-P-W: 3-0-0-3

Course Title

Language, Human Mind and Indian Society

Learning Mode

Offline

Learning Objectives

This course has been designed for the undergraduate B. Tech students to be taught as an elective. A) The purpose of this course is to provide students with an understanding of the critical nature of interrelationship between language, human mind and their interaction as visible in the society. B) The objective of the course is also to acquaint the students about the dynamic nature of language in perception and identity formation. C) Drawing from the theories of linguistics, psychology, cognitive science, ecolinguistics and sociology, the course intends to orient students towards the multidisciplinary approach in the investigation of language as a phenomenon. D) The course aspires to sensitize the students about the bidirectional relationship between language use and socio- cognitive behaviour

and how it impacts human life.

Course Description

The course is divided into five modules where each module leads to another module with a higher level of application as evident in social context. The first module introduces few key concepts about the forms and functions of human language. The second module provides the context of the course, that is, the Indian multilingual setting. The third module is grounded on some fundamental theoretical breakthroughs of human cognition. The fourth module is about situating human language in the socio- political context. The last module provides the dichotomy between the local and the global issues grounded at the interface of human language, the human mind, and the society which the humans inhabit.

Course Outline

Module 1: Introduction

Language: Form and function, design features of language; Language as a rule- governed system, Language constitutive of being human; language behaviour and language- systems; the fiction of homogeneity

Module 2: Language and Mind

Human mind: Language instinct, biological foundations of language, Language acquisition, Human and non-human systems of communication, Construction of knowledge, Basics of psycholinguistics: Language processing, comprehension and production, Bilingualism and cognitive growth; language and logic

Module 3: Perspectives on Indian linguistic contexts

Languages of India: Language families (Genealogical classification of languages), India as a linguistic Area; Language and the knowledge systems; language choices, translanguaging

Module 4: Language in the Socio-political context

Linguistic relativity and linguistic determinism, Identities and language, Language and dialect, Linguistic minorities, Implications for pedagogy (Multilingual approaches to education), Politics of language in India

Learning Outcome

By the end of the course each student is expected to be able to:

1.     Evaluate linguistics theories in light of actual language use by adults and children.

2.     Understand the significance of language in the context of human knowledge system.

3.     Be aware of the idea of identity in local as well as global context and be appreciative of the indigenous culture and knowledge systems.

4.     Demonstrate knowledge and critical thinking about the issues of language and politics and the need to innovatively safeguard the minority and endangered languages.

5.     Be appreciative of the interdisciplinary aspect of human language and be able to identify various socio- economic and political phenomena rooted in language.

Assessment Method

Class test= 10%; Quiz+ Assignment = 15%; Mid-semester = 25%; End semester

= 50%

Course Number

HS2111

Course Credit

3-0-0-3

Course Title

Introductory Sociology

Learning Mode

Off-line

Learning Objectives

1.  Prepare students with necessary knowledge to systematically understand society.

2.  Analyze various social processes based on different perspectives,

theories, and techniques.

3.  Contextualize everyday experiences through lens of social theories.

Course Description

This course aims to prepare engineering undergraduate students with the necessary knowledge base to understand society through the basic subject matter of the academic discipline of Sociology. Essential concepts, vital perspectives, necessary theories, tools and techniques, and their like will be studied in this course. Link of this understanding will be connected with detailed analysis of the Indian society with the help of the work of prominent social thinkers and the personal everyday experiences of the learners. We will moor our learning through participation with different communities of practice around the campus.

Course Outline

Introduction: Sociological Imagination; Subject matter of Sociology.

Theoretical Practice: Durkheim (Foundations of the Science of Society), Weber (Economy and Society), Marx (Political Economy), Foucault (Practices and Knowledge), Butler (Gender Performativity), & Burawoy (Public Sociology).

Methodology and Methods: Qualitative, Quantitative, and Mixed.

Indian Society: Caste, Class, and Tribe; Women and Children; Health and Education; Culture and Values; Science, Technology and Society; Media and Migration; Diaspora; Bihar- a case study.

Eminent Indian Sociologists and their contributions: M N Srinivas, Irawati Karve, Yogendra Singh, Andre Betellie, Hetukar Jha, and their like.

Learning Outcome

1.  Examine the evolution and change of different social systems.

2.  Learn the methodologies and methods to comprehend social practices and processes.

3.  Holistic understanding of the Indian society by being engaged in communities of practices.

Assessment Method

Quizzes, Assignments, Fieldwork, Midterm, End Term

Course Number

HS2112

Course Credit

3-0-0-3

Course Title

Introduction to Demography

Learning Mode

Off-line

Learning Objectives

1.  Understand the demographic profile of communities and society through processes of population change.

2.  Analyse factors that influence population structure and composition of communities at micro level and countries at macro level.

3.  Address challenges of population change through concerns of climate change and environmental degradation.

Course Description

The aim of this course is to introduce students to the study of people addressing the changing composition and distribution of population. The course will provide a holistic comprehension of the fundamentals of population change through the processes of fertility, mortality, and migration, emphasising on the importance of age and gender. It will allow the students to understand the impacts these factors have on individual lives and the changing structure of human society. The course will also look into the impact of population on policy formulations for sustainable development and address some of the future challenges of population.

Course Outline

1.     Concepts in Demography: Definition of demography; sources of data for study of demography

2.     Dynamics of Population Change: Basic theories of fertility, mortality, and migration; social factors influencing population change, with special reference to India.

3.     Population Distribution: Density of population, population growth, global scenario of population; determinants of population distribution based on examples from India.

4.     Population Composition: Importance of age and gender in population; demographic dividend; aging population; influence of population composition on overall development of a country.

5.     Population Policies: Elements of population policies; population policies in India.

6.     Future Challenges of Population: Population and sustainable development; population and climate change; population and environmental degradation; debates on dilemma and contradiction of decreasing birth rate and stable total marital fertility rate.

Learning Outcome

1.  Comprehend the importance of demography and population studies for holistic understanding of any community and society.

2.  Sensitised towards problems created due to population change- both over-population and under-population.

3.  Relate emerging challenges of development, such as, climate change and environmental degradation with population dynamics.

Course

Number

HS2113

Course Credit

3-0-0-3

Course Title

Fundamentals of Management

Learning Mode

Classroom Lecture and discussion

Learning Objectives

1.        To familiarize students with the basic management concepts and applications.

2.        To inculcate in students the ability to apply the multifunctional approach to organizational objectives and appreciate the significance and applications of various managerial functions.

Course Description

In today’s competitive and demanding workplace, individuals can’t succeed on their technical skills alone. To become an accomplished professional one needs to have good people skills and the ability to manage people regardless of whether their job title has the word ‘manager’ in it. The course aims at providing fundamental knowledge and exposure to the concepts, theories and practices in the field of management.

The course will be taught using cases, management simulations, experiential exercises, and discussions to practical exposure and make the learning more meaningful for the students.

Prerequisite: NIL

Course  Outline

Unit 1: Management Science, Theory and Practice: Definition, Nature, scope and significance of Management, Systems approach to Management, Management functions, Managerial roles, Management skills, Management process, Evolution of Management: Early management, Classical approaches: Scientific management and General administrative theory, Behavioral approach, Quantitative approach, contemporary approaches, Management and society, Managing in a global environment, Modern management challenges

Unit 2: Planning and Decision Making: Planning concept, significance, process and tools, Goals and plans, Management by objectives, Decision making: forms, process, approaches: bounded rationality, evidence-based management, and techniques, Strategic planning: Strategies, Tactics, and competitive dynamics

Unit 3: Organizing and staffing: Fundamentals of organizing, Organizational design and structure, Responsibility, authority and delegation, Managing human resources, Organization change and development

Unit 4: Leading: Influencing and communication, Understanding and managing individual behavior, Effective Leadership, Motivation, Creating and managing teams

Unit 5: Controlling: Controlling concept, significance, process, and techniques, information systems, production and control: operations management, operations control, total quality management, contemporary

issues in control

Learning Outcome

On successful completion of the course, the students will be able to

1.        Define manage and describe managerial roles and functions

2.        Appreciate the importance of studying management

3.        Describe the factors reshaping and redefining management

Assessment Method

Mid Semester Examination (20%), End Semester examination (30%), Class test

& quiz (10%), Project, Case discussions and Simulations (40%)

Course Code

HS2115

Course Credit                

3-0-0-3

Course Title                  

Introductory Microeconomics

Learning Mode           

Offline

Learning Objectives

• To provide students with the capacity to understand and apply some of the methodologies available for applied research in economics and aid them in analysis and decision making.

Course Description    

The course provides basic knowledge of Microeconomics which is essential for any students including those who wish to shape up career in the field of economics, management, industry etc. Course do offer how some of the microeconomic theories are associated with out day to day life.

Learning Outcome     

·       Undergraduate students would be able to able to understand how an economic theory works at individual level such as at the level of a consumer or a firm etc.

·       Would be able to establish any determining relationships of individual’s economic decision.

·       Develop an intuitive understanding of econometrics that allows the utilisation of the theory and tools effectively and creatively.

Assessment Method

Quizzes, Assignments/lab assignments, Midterm, End Term

Course Outline         

1.     Why Economics , How Microeconomics is important and different ,  Normative v Positive Economics 

 1.2  Scarcity of resources and Economics, The Central Economic Problem, Production Possibility Curve (PPC)

1.3 Consumer Behaviour: From Marshall’s Utility approach to Revealed Preferences, Hicks and Slutsky compensation and Marshallian Demand, 

Demand and Supply, Elasticity of Demand and Elasticity of Supply, Efficiency and Equity, Determinants of Demand and Supply: Utility and Demand, Cardinal & Ordinal Approach (Indifference Curve). 

 2. Theory of Production, Theory of Cost - different cost curves and its interpretation, Return to scale, concept of average and marginal cost and product. 

3. Markets for Goods and Services: Price Determination in  Perfect  Competition, Monopoly, Monopolistic Competition and Oligopoly

4.Factor markets, Income distribution

Course Number          

HS2116

Course Credit                

3-0-0-3

Course Title                  

International Trade and Investment (International Economics as per Senate MoM)

Learning Objectives

This main objective of this course is to provide a thorough analysis of modern trade theory, trade policy, and its welfare implications. We will analyze trade models in depth in order to discuss the benefits and consequences of international trade and globalization. We will examine factor movements, imperfect markets, and the effect of trade on wages and income distribution. Time permitting, the course might slightly delve into international finance in order to discuss different exchange rate regimes, their effect on monetary/fiscal policy, and economic integration.

Course Outline         

1. Basic Models of Trade

1.1 Ricardian Model: Comparative advantage.

1.2 One factor economy: production possibility frontier, relative demand and relative supply and autarkic terms of trade.

1.2 Trade in Ricardian world: determination of international terms of trade, complete specialiszation, gains from trade.

2. Resources, Comparative Advantage, and Income Distribution Model of two factor economy: Assumptions, Factor prices and commodity prices (Stolper-Samuelson effect)-correspondence, Resources & output, Rybzynski effect.

2.2 Effects of International Trade between two factor economies, Relative prices and the pattern of Trade, Trade and distribution of Income, Factor Price Equalization.

2.3 Empirical studies - Leontief Paradox.

3. The Standard Trade Model

3.1 Production Possibilities and relative supply, relative prices and demand, welfare effects of changes in terms of trade, determining relative prices.

Effects of exchange rate changes on domestic prices and terms of trade, Marshall-Lerner condition, J-curve effect.

3.2 Economic growth: shift of RS curve, growth and production possibility frontier, RS and terms of trade, International effects of growth, International transfers of income: shifting RD curve, Transfer problem, effects of transfer on terms of trade, Tariffs and export subsidies.

4. Trade Policy

4.1 Partial equilibrium analysis: Tariff- cost and benefit, effective rate of protection and intermediate goods, quota, tariff- quota equivalence and non-equivalence, export subsidy, voluntary export restraint.

4.2 Tariff & Import Quotas in presence of monopoly.

6. FDI and its impact on economy

7. Application of Trade maps and WITS data: to show trade relations empirically and validate the standard trade models.

Learning Outcome     

·       Understand, at the level of formal analysis, the major models of international trade and be able to distinguish between them in terms of their assumptions and economic implications

·                 Understand the principle of comparative advantage and its formal expression and interpretation within different theoretical models

·                 Be able to apply partial equilibrium and general equilibrium models in analysing the economic effects of trade.

·                 Be able to critically analyse the main arguments for protection and conversely be able to critically evaluate the relevance and realism of arguments for free trade

·                 Be familiar with the major recent developments in the world trading system, and be able to critically analyse key issues raised both by the current round of WTO negotiations and by the spread of regional trading arrangements

Assessment Method

Quizzes, Assignments, Midterm, End Term