Programme Outcomes
- Identify the role of supply and demand.
- Identify the necessary conditions for market economies to functions well.
- Discuss the advantages of market system and pricing.
- Understanding of the role of government policy and Federal Reserve for the economy.
- Using of algebraic and statistical method to analyze economic problems.
- Using different growth models for the economic development and growth of a country.
- Identify the benefits and cost of International Relations to trade with other countries.
- Identify the importance of taxes for a development of a country.
- Internalize the cost and benefit of economic activity for the environment.
- Understanding the importance of money and banking system for a country.
- Importance of different of govt. policies started for the benefit of citizen in India.
Course Outcomes
Introductory Microeconomics:
Upon successful completion of the course a student will be able to:
- Understand how households (demand) and businesses (supply) interact in various market structures to determine price and quantity of a good produced.
- Understand the linkages between economic models of demand and household behavior.
- Understand the concept of demand, the downward slope of demand, what are the reasons of its shifting.
- Understand the concept of supply, the upward slope of supply, what are the reasons of its shifting.
- Understand the linkages between the economic models of supply and production costs.
- Understand the importance of marginal cost and marginal revenue for a firm profitability.
- Understand the different types of market, and how its affect price and output in the economy.
- Understand the different characteristics of market and its implications for the firm behavior.
Introductory Macroeconomics:
Upon successful completion of the course a student will be able to:
- Understand the factors determining the gross domestic product.
- Understand how the aggregate demand for goods and services depends on household, business, government and global behavior.
- Understand how the aggregate supply and aggregate demand interact to drive a free market economy.
- Understand the importance of market economy, including govt. policies.
- Understand the concept of national income.
- Understand the concept of closed and open economy of an economy.
- Understand the importance of business cycles.
- How fiscal and monetary policy control inflation and recession in an economy.
- How domestic economy interacts with the rest of the world.
Intermediate Microeconomics:
Upon successful completion of the course a student will be able to:
- How to make decisions by using marginal analysis and opportunity cost.
- How to use supply and demand for determining changes in market equilibrium.
- Understand the meaning of perfect competition in the market, and help us to understand how equilibrium price and output is attained in this type of market.
- How to reach equilibrium prices and output in imperfect competition (e.g. monopoly, monopolistic competition, and oligopoly).
- It will help us to understand the concept of market failure, how to use supply and demand concept to eliminate this types of market failure.
- How to use comparative static analysis, producer and consumer welfare, govt. intervention by using price ceiling and price floor.
- Understand the importance and consequences of general equilibrium and welfare economics (Pareto Optimality).
Intermediate Macroeconoics:
Upon successful completion of the course a student will be able to:
- Understand the importance of using consumption function and investment function to achieve long term growth.
- Understand the importance of classical economist on the nature and causes of the wealth of nations.
- Help us to understand the difference of classical and Keynesian approaches in the context of macroeconomics.
- Importance of how goods market (IS curve) and money market (LM curve) equilibrium can be achieved.
- Importance of effective demand to determine equilibrium in an economy.
- Understand the importance of international trade, international finance, and exchange rate for an economy.
- Understand the concept of multiplier, how different types of multiplier affect investment, employment, foreign trade.
- Effectiveness of monetary and fiscal policies to affect gross domestic product.
Mathematical Economics:
Upon successful completion of the course a student will be able to:
- Understand the connections between diagrammatic models and their mathematical structures using calculus and algebra.
- Understand how to use game theories to solve problems.
- Develop numerical examples to explain variety of theoretical result.
- How to use maxima and minima concept to solve problems like cost minimization, output maximization, and profit maximization for a firm.
Statistical Methods:
Upon successful completion of the course a student will be able to:
- How to use different types data to make problems simple.
- Help us to understand the features of describe distribution data.
- Help us to find single, complementary events, union and collections of events.
- How to calculate mean and variance of random variable.
- Help us to understand the cases where we can use Binomial, Poisson and Normal distribution.
- Help us to understand the importance of standard deviation, correlation and regression in real world.
- Help us to understand how to use point and interval estimation.
Development Economics:
Upon successful completion of the course a student will be able to:
- Identify and analyze the key economic development theories affecting a number of development issues such as trade, economic growth etc.
- Understand the importance of sustainable development for a country.
- Critically examine the linkages between various development theories and its approaches.
- Review the policy implications of different economic development theories.
- Critically understand how the economic development theories affect the macro development policies in a country.
- Determine and apply specialist knowledge and technical skills required to solve problems creatively.
- Understand how the different growth theories help to maximize the growth rate of a country in the global context.
- How the factors like poverty, capital formation, population growth, agriculture affects the development of a country.
International Economics:
Upon successful completion of the course a student will be able to:
- Understand the various reasons for why a country is engaged in international trade.
- How to use models of trade to demonstrate the gains from exchange due to trade with foreign nations.
- Understand how the international factor mobility affects an economy.
- Understand how tariffs and import quotas affect the international trade of a country
- Understand the key role of different international institutions to conduct trade across the world.
- Understanding the different methods and concepts used by a country to keep track of international transactions.
- Understand the role of exchange rate, and how they are determined under short run and long run.
- Understand how the various policies may affect the exchange rate and welfare of a country.
- Understanding how different exchange rate regime works such as gold standard, fixed and floating exchange rate mechanisms.
- Understand the working of different international institutions with regard to rate of exchange and the flow of international assets.
Money and Banking:
Upon successful completion of the course a student will be able to:
- Understand the importance of financial sector to use the scarce resource effectively and efficiently.
- Understand the various determinants of exchange rate.
- Understand the concept of term structure of interest rates.
- Understand how the interest rate affected by changes in monetary policy.
- How interest rates affected by inflation.
- Understand the various concept of yield of return.
- Understand the various ways to hedge risk.
- Understand how the fiscal and monetary policy affects the financial system of a country.
- Understand the various money market and capital market instruments.
- Understand the components of balance of payments, factors affecting currency exchange rates.
Indian Economy:
Upon successful completion of the course a student will be able to:
- Understand the nature economic development since independence.
- Understand the issues of land reforms, and their impact on Indian agriculture.
- Understand the importance of Green Revolution and their impact on the context of Indian agriculture.
- Understand the major issues in Indian industry and their impact on the development of Indian industry.
- Understand the importance of Monetary and Fiscal policies for structural transformation of the Indian Economy.
- Importance of different trade policies, Special economic zone, Foreign investment inflows through FII and FDI.
Public Economics:
Upon successful completion of the course a student will be able to:
- How to apply microeconomic theories to public decision making.
- Understand the importance of direct and indirect tax system for a country.
- Understand the concept of public expenditure, and its importance for the country.
- Understand the importance of public budget for a country.
Indian Political Economy:
Upon successful completion of the course a student will be able to:
- It will help us to understand how it is possible to adopt a policy by politicians when majority of voters are against of the policy.
- Understand the historical and logical implications of different property regimes.
- Understand the changing role of finance in capital accumulation.
- Explain financialisation, financial liberalization, financial crisis.
- Understand the impact of globalization and its impact on welfare state, development, and state autonomy.
- Understand the issues in environment and sustainability.
