The Economics major offers a rigorous and comprehensive understanding of economic theory, quantitative methods, and real-world policy applications. The curriculum covers core areas such as microeconomics, macroeconomics, public economics, international economics, development economics, industrial economics, money and banking, and financial systems. Strong emphasis is placed on quantitative analysis through business statistics, econometrics, and mathematical methods for economics, enabling students to analyze data and test economic hypotheses. Through case studies, empirical analysis, policy evaluation, and research-oriented learning, students develop analytical reasoning, problem-solving skills, and an informed perspective on contemporary economic issues at national and global levels.
Principles of Microeconomics introduces students to the core ideas that explain how individuals, firms, and markets make decisions under conditions of scarcity. The course examines consumer behavior, production and costs, market structures, and the role of prices in allocating resources. It also explores market failures, efficiency, equity, and the role of government intervention. Through analytical models, real-world examples, and policy discussions, students learn to apply economic reasoning to everyday choices, public policy debates, and contemporary economic issues.
Mathematical Methods for Economics introduces students to the quantitative foundations of economic analysis, equipping them with essential tools to understand and model economic relationships. The course covers functions and graphs, financial mathematics, introductory econometric techniques, calculus, and optimization with emphasis on applying mathematical methods to real-world contexts. Through a gradual and supportive pedagogy, real data applications, and continuous assessment, students develop analytical skills, logical thinking, and the ability to draw meaningful economic inferences from quantitative information.
This course introduces the fundamental principles of macroeconomics and the analytical tools used to understand the behavior of an economy as a whole. It examines major schools of macroeconomic thought, core macroeconomic variables, and the measurement of national income and prices. Students study income determination, consumption and saving behavior, monetary and fiscal policy, and the interaction of goods, money, and financial markets through models such as IS–LM. The course also explores inflation, unemployment, business cycles, expectations, and the financial system of India, linking theory with contemporary policy issues and real-world economic challenges.
Money, Banking and Finance introduces students to the structure and functioning of modern financial systems and their role in economic development, with particular emphasis on the Indian context. The course examines the evolution of money, theories of money supply and demand, central banking, and monetary policy, alongside the structure and regulation of the banking sector. Students explore financial institutions, markets, and instruments, including capital markets, NBFCs, and financial services, while engaging with contemporary issues such as banking reforms, risk management, and the future of central banking.Through case studies, assignments, and discussions, students develop practical insights into financial management, regulation, and investment strategies, equipping them to analyze and engage with real-world financial systems effectively.
The course International Economics introduces students to the principles and theories governing global trade and finance. It covers classical and modern trade theories, including comparative advantage, Heckscher-Ohlin, and intra-industry trade, while examining terms of trade, foreign trade multipliers, and commercial policies such as tariffs, quotas, and dumping. Students explore foreign exchange systems, balance of payments, and exchange rate determination. The course also addresses economic integration, regional trading arrangements, and multilateral trade frameworks like the WTO. Through lectures, real-world examples, group discussions, and project work, students develop analytical skills to understand international economic interactions, trade policies, and their macroeconomic implications.
This course offers a comprehensive introduction to Development Economics, focusing on the theories, models, and real-world challenges of economic growth and development. It examines classical and modern development thought, key growth models, and the role of structural change, institutions, and policy in reducing poverty and inequality. Students explore contributions of major economists, comparative development experiences in Asia, and debates on markets versus state intervention. The course also addresses contemporary issues such as globalization, sustainability, human resource development, and social capital, supported by case studies to link theory with practice.
Development Economics equips students with a comprehensive understanding of how economies grow and develop, with particular emphasis on developing countries. The course examines key facts of development, major theories of underdevelopment, and classical as well as contemporary approaches to economic growth. It critically engages with issues such as poverty, inequality, human and social capital, market failures, and the role of the state, community, and institutions. Special attention is given to human development indices and the transition from MDGs to SDGs, including India’s policy framework. Through discussions, case studies, and applied analysis, students develop the ability to synthesize development trajectories and evaluate policy choices.
Business Statistics equips students with the quantitative tools required to collect, summarize, analyze, and interpret data for informed business decision-making. The course covers descriptive statistics, probability theory, probability distributions, regression analysis, sampling, estimation, and hypothesis testing, with strong emphasis on data presentation through tables, charts, and graphs. Practical application using Microsoft Excel is integrated throughout the course, enabling students to work with real-world datasets and develop hands-on analytical skills. Through lectures, students build statistical reasoning, problem-solving abilities, and confidence in using data to support managerial and policy decisions.
Introductory Econometrics equips students with the tools to analyze economic data and test real-world economic relationships using statistical methods. The course introduces regression analysis, statistical inference, and model specification, enabling students to estimate economic parameters, evaluate hypotheses, and make informed predictions. Through hands-on data analysis, case studies, and software-based problem solving, students develop the ability to interpret econometric results and critically assess empirical research. The course lays a strong quantitative foundation for advanced study in economics, policy analysis, finance, and data-driven decision-making.
Industrial Economics examines how firms, industries, and markets function in the real world. Moving beyond idealised models of perfect competition, the course explores monopolies, oligopolies, pricing strategies, product differentiation, mergers, advertising, innovation, and regulation. Students learn how market structure shapes firm behaviour and how business strategies affect efficiency, competition, and consumer welfare. With a strong emphasis on real industries and contemporary cases, the course bridges economic theory with business practice. It helps students understand how firms make decisions, how industries evolve, and how policy can promote or hinder competition. Particularly valuable for those interested in business, policy, competition law, consulting, and entrepreneurship, the course equips students to analyse industrial dynamics and real-world market challenges with clarity and rigour.
Public Economics examines the role of the state in shaping economic outcomes. It helps students understand why markets sometimes fail and how governments respond through taxation, public spending, regulation, and redistribution. The course engages with questions such as when the government should intervene, how taxes ought to be designed, how budgets reflect social priorities, and what trade-offs exist between equity and efficiency. Blending economic theory with real-world policy debates, the course covers public goods, welfare systems, fiscal policy, rent-seeking, bureaucracy, and corruption, with strong grounding in Indian and global contexts. Students learn to evaluate public policies and grasp the economic logic behind them. Central for those interested in public policy, governance, law, development, and social impact, the course equips students with the analytical tools to assess government interventions and their effects on efficiency, equity, and social welfare.
