This course aims to introduce the students to formalization of individual decision making and various facets of it under different perspectives- when the individual is a consumer (consumer’s choice, demand, dilemmas etc.) or when she is a producer (profit maximization or cost minimization, characterization of different market structures under various degree of market power). Finally, the course discusses different aspects of decision-making under uncertainty.

This course aims to introduce the students to formalization of individual decision making and various facets of it under different perspectives- when the individual is a consumer (consumer's choice, demand, dilemmas etc.) or when she is a producer (profit maximization or cost minimization, characterization of different market structures under various degree of market power). Finally, the course discusses different aspects of decision-making under uncertainty.

One part of this course aims to introduce the students to the set-up of general equilibrium model especially following Arrow-Debreu framework. Existence, stability and other properties of such equilibria are formally discussed. The other part of the course aims to introduce the students to game theory. Basic model of complete information simultaneous move games is set up and the notion of Nash equilibrium is introduced. Properties of Nash equilibrium are discussed in details, particularly with the help of several examples. Next the concept of sequential games is introduced and examples are used to define the notion of subgame perfect equilibrium in this setting.

This course aims to provide various perspectives on India’s economic development. Development debates on India’s economic transformation from the colonial period will illuminate the discussions. The primary concern will be on contemporary issues, including social inequalities, constraints to agricultural and industrial growth, and the revolution in the services sector. The coursework will emphasize on a set of readings, classroom interactions and debates.

Economic growth. Economic development. Historic growth and contemporary development. Lessons and controversies. Characteristics of developing countries. Obstacles to development. Structural changes in the process of economic development. Relationship between agriculture and industry. Strategies of economic development. Balanced/ Unbalanced growth. International trade and economic development. Population. Planning for economic development. Use of input-output model and linear programming techniques in planning. Indian plan experience. Strategy of Indian planning. Indian plan models.

This course provides a political economy perspective on economic growth and development, drawing both from the Indian and international experiences. It discusses development histories, contemporary economic issues, and also future economic challenges. The topics covered include industrialization, economic planning, international trade, financial crises, poverty, and labour migration.

The primary objective of this course is to provide introduction to Probability and Statistics for quantitative analysis in economics. This course builds upon statistical foundations of econometric methodologies that are useful in empirical research. Students will be introduced to the major quantitative techniques that social scientists use to test models, study economic behaviour, evaluate policies, and relationships between variables. The topics covered in the course include basic probability theory and mathematical statistics, linear regression models and its applications.

The course is aimed at developing an understanding of the basics in Public Economics and Public Finance. Public economics is the study of government policy from the points of view of economic efficiency and equity. The course 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. The course is divided into two sections, one dealing with the theory of public economics and the other with the Indian public finances.