Programme/Courses Offered

Introductory Statistics for Economics

Course Objectives: The course familiarizes students with methods of summarizing and describing important features of data. The course teaches students the basics of probability theory and sets a necessary foundation for Inferential Statistical Theory and the Econometrics courses. The familiarity with probability theory will also be valuable for courses in economic theory.

Course Learning Outcomes: The student would understand the concept of probability, random variables and their distributions and become familiar with some commonly used discrete and continuous distributions of random variables so that they would be able to analyse various real-life data.


Course Objective: This course introduces students to the econometric methods used to conduct empirical analysis in Economics. The course is designed to provide the students with the basic quantitative techniques needed to undertake applied research projects. It also provides the base for more advanced optional courses in econometrics.

Course Learning Outcomes: Students will learn to estimate linear models using ordinary least squares and make inferences about population parameters. They will also understand the biases created through mis-specified models, such as those that occur when variables are omitted.

Applied Econometrics

Course Objective: The course assumes that students have a basic knowledge of statistics, mathematics as well as basic econometric theory. It builds on the compulsory Introductory Econometrics course and teaches students a broad set of commonly used econometric methods. These include estimating models with limited dependent variables and the use of instrumental variables to estimate models with endogenous regressors.

Course Learning Outcomes: Students will learn the theoretical basis for techniques widely used in empirical research and consider their application in a wide range of problems.

Law and Economics

Course Objective: While law is a non-market institution, it impacts market and non-market outcomes. By shaping incentive structure for the private individuals and the government entities, legal rules play important role in functioning of an economy. Indeed, legal rules can have astounding effects on allocation and use of resources. Besides, legal rules greatly affect the distribution of different forms of wealth. This course will illustrate how legal rules are amenable to economic analysis, and how different legal rules can lead to different outcomes in terms of allocative efficiency and distribution.

Course Learning Outcomes: This course will familiarise students with the economic approach towards thinking about the law and public policy. Students will come to recognise the law as an important organising force that influences the actions of private citizens as well as government agencies. Students will also learn how the law can support and, at times conflict with, the functioning of the market and the government, the other two important organising forces of an economy. The course will enhance critical thinking and an inter-disciplinary approach towards the law, economics, and policymaking. Thereby, the course will help to develop an inter-disciplinary approach and enhance the employability of students.

Data Analysis-SEC

Course Objective: This is a skill enhancement course for data analysis. The students will be given hands on training on using statistical and computing software to better visualize and understand data concepts. The course is designed to be delivered through 2 classroom lectures and 4 computer lab classes per week.

Course Learning Outcomes: The course will use data simulations and publicly available data sources to help students learn about data types, their organization and visual representation. They will learn how to compute summary statistics and do some basic statistical inference.

Intermediate Microeconomics I: Behavioural foundations of Market Interactions

Learning Objectives

The Learning Objectives of this course are as follows: • The course is designed to formally analyze the behaviour of individual agents like consumers and producers under certain conditions. • Mathematical tools are used to facilitate understanding of the basic concepts. • This course looks at the consumer's behavior and a competitive firm's choices.

Learning outcomes

The Learning outcomes of this course are as follows: • Students will learn the basic elements of consumption and production theories using various technical frameworks. • This course provides them with the behavioural foundations of market supply and demand.

Money and Banking

Concept, Functions, Measurement, Computation of Money Supply and Theories of Money Supply Determination. Monetary Policy: Targets and instruments, Monetary management in an open economy; Monetary Policy Framework in India: Evolution and current scenario, critical evaluation Digital currency: implications and emerging issues in the Indian economy. Role of Financial Markets and Institutions; problems of asymmetric information adverse selection and moral hazard, financial crisis, Financial markets; Organization, Structure, and Reforms in India

Introductory Mathematical Methods for Economics

The objective of this sequence is to transmit the body of basic mathematics that enables the study of economic theory at the undergraduate level, specifically the courses on microeconomic theory, macroeconomic theory, statistics and econometrics set out in this syllabus. In this course, particular economic models are not the ends, but the means for illustrating the method of applying mathematical techniques to economic theory in general.


The paper deals with the nature of government intervention and its implications for allocation, distribution and stabilization. Inherently, this study involves a formal analysis of government taxation and expenditures. The subject encompasses a host of topics including public goods, market failures and externalities.