The course will introduce students to selected topics in Economics as decided by the instructor.

Estimation and inference in two variable model; OLS assumption; Extension of the two variable model; OLS assumption : autocorrelation, multicollinearity, and heteroskedasticity, models with limited dependent variables : LPM, log it, and probit; Panel data modelling: fixed effect and random effect models; Time series analysis : introduction to non-stationarity, AR and MA modelling.

This forms the second part of two-part game theory course intended for the masters program at IIT Delhi. After formalization of standard game theory models and some examples in game theory 1, in this course, we introduce concepts of cooperative game theory and advanced topics such as mechanism design and implementation theory. After studying this course the students are expected to be comfortable in reading the journal articles on game theory, mechanism design, and implementation theory and also develop fresh models to close the gaps in the existing literature or ideate problems in these fields.

This course will cover time series econometrics and forecasting with focus on applications in macroeconomics and international finance. It introduces students to time series regression models, its estimation, inference and forecasting. The objective of the course is for students to get hands-on experience with analyzing economic time series data. Accordingly, the emphasis of the course is on empirical applications.

The aims of this course are to:
(i) equip students with understanding of the most important mathematical techniques used in modern economics;
(ii) illustrate the use of these techniques by applying them to various well-known economic models;
(iii) complement the postgraduate microeconomic and macroeconomic theory courses.
 

Micro versus macroeconomics. Theory of consumer behavior and demand. Consumer preferences. Indifference curve. Consumer equilibrium. Demand function. Income and substitution effects. The Slutsky equation. Market demand. Elasticities. Average and marginal revenue. Revealed preference theory of firm. Production functions. Law of variable proportions. Laws of return to scale. Isoquants. Input substitution. Equilibrium of the firm. Expansion path. Cost function. Theory of costs. Short Run and Long run costs. Shape of LAC. Economies and diseconomies of scale. Market equilibrium under perfect competition. Equilibrium under alternative forms of market. Monopoly: pure and discriminating. Monopolistic competition. oligopoly.