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 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 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.

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.

The primary objective of this course is to provide an introduction to the study of labour markets with particular emphasis on India.

The course aims to introduce the students to broad issues of development, particularly from an Indian or developing country context. The topics covered in the course relate to not only issues of economic development but also other hurdles faced by developing societies, which have deeper historical and political roots. The course will equip the students with a good understanding of the problems of development, and provide them a larger perspective to the economic theories they will learn in other courses.

Current economic problems. Alternative economic systems. An overview of the economy. The market mechanism. National product and income. Consumption, savings and investment. Determination of national income. Aggregate demand and supply. Fiscal policy. The nature of money and monetary policy. Inflation and unemployment. Basic concepts of price theory. Determination of price by supply and demand. Elasticity of demand and supply. Theory of production. Theory of costs. Pricing in competitive and monopoly markets. The gains from international trade. Theory of exchange rates. Balance of payments. Economic growth, and development. Inequality and poverty.