Department of EconomicsGraduate Course Curriculum
I. Core Courses
- Consumer theory, Producer theory, Choice Under Uncertainty
- General Equilibrium models, Walrasian and Marshallian Stabilty Analysis: Existence, Uniqueness, and Stability
- Bayesian Games, Signaling, Mechanism Design, Decision Theory, Cooperative Game Theory
- Application of Distributed Lag Model in Corporate Investment. Adaptive Expectations and Derivation of Investment Accelerators
- Application of Difference Equation: A Competitive Market Model with Perishable Agricultural Products; and A Market Model with Inventory
- Neoclassical Growth Model Without Money: The Wealth Demand Model
- Open Economy Macroeconomics
- Solow Growth Model, The Solow model with automation, Endogenization of the share of investment in traditional physical capital, Automation and wage inequality, The Ramsey-Cass-Koopmans model, Automation in the Ramsey-Cass-Koopmans model, The Overlapping Generations (OLG) Model, Automation in the OLG Model
- Linear regression model: Multiple regression analysis and violations of assumptions of classical linear regression model, GLS, Seemingly Unrelated Regressions, Simultaneous Equations model
- Limited Dependent and Qualitative Variables: Linear probability model, Probit and logit models, Multinomial logit model, Conditional logit model, Nested logit model, Nested multinomial logit model, Ordered logit and probit models, Poisson regression model, Negative binomial regression model, Tobit model, Two-part or hurdle model
- Time series: Stationarity, ARIMA, VAR, Cointegration, ARCH, GARCH
- Panel data: Fixed effects or LSDV model, Random effects model, Fixed effects vs. Random effects, Dynamic panel data models, Errors in Variables in Panel Data, Unit root test
- Matching: Counterfactuals, propensity score matching, average treatment effect, quantile treatment effect, regression and matching, ordered and continuous treatment
- Instrumental Variables Regression: Instrumental variables and causality, Two-stage least squares, 2SLS inference, IV with heterogeneous potential outcomes
- Difference-in-differences Estimator: Individual fixed effects, difference-in-differences, regression DD
II. Elective Courses
- Economic approaches to environmental problems: theoretical and methodological issues, techniques of environmental analysis-basic theorems, cost-benefit analysis.
- Project appraisal and evaluation, risk assessment.
- Micro foundations of environmental economics: Theory of public goods, externalities and market failure, design of environmental policy, Baumol’s Standards and Charges Approach, Alternative Policy Instruments, Command and Control vs Market Based Instruments, Direct and Indirect Economic Instruments, International Experience.
- Macro aspects in environmental planning: sustainable development, economy and ecology, green/natural resource accounting, Valuation of Natural Resources: Direct and Indirect Methods Environmental impact assessment.
- Natural resource management: Exhaustible, renewable, common property resources, institutions and enforcement economic growth and environment, economic reforms and environment.
- Empirical assessment of the inter-linkages between environmental quality and economic development. Comparative experiences of developed and developing countries. Environmental problems and policies in India. Environmental issues in the Global Context: GHG and Ozone Depletion, International protocols, global trade and Environmental standards and WTO.
- Financial Markets and the Economy, Real Assets versus Financial Assets, the Role of Financial Assets in the Economy, Users of the Financial System, Role of the financial system: An illustration
- Making choices in risky situations: Utility theory given uncertainty, Axioms of choice under uncertainty, Establishing a definition of risk aversion
- Financial Instruments, Types of Financial Instruments, Characteristics of Financial Instruments, Financial Innovation
- Bond Pricing, Term Structure Theories of Interest Rates, Theories of Term Structure: (i) the Expectations Hypothesis (ii) Liquidity Preference (iii) Market Segmentation Theory (iv) Preferred Habitat Theory, Interpreting and measuring the term structure
- Introduction to futures and options, defining options and futures, Understand rights and obligations of the parties involved in various types of options, Familiarity with the basic taxonomy used in options analysis
- Portfolio Opportunities and Choice, the trade-off between expected return and risk, Efficient diversification with many risky assets, the Capital Asset Pricing model in brief, Determinants of the risk premium on the market portfolio, Empirical test of the CAPM
- Financial Intermediation, Defining Financial Intermediation, Different Types of Financial Intermediaries, the Role of Banks in Financial Intermediation
- Problem of Causal Inference and Randomized Experiments: Cause and effects, randomized and non-randomized trials, treatment effect and selection bias
- Regression Fundamentals and Causality: Introduction to regression analysis, ordinary least squares regression, linear regression and conditional expectation, inference and hypothesis testing in regression, regression and causality
- Matching: Counterfactuals, propensity score matching, average treatment effect, quantile treatment effect, regression and matching, ordered and continuous treatment
- Instrumental Variables Regression: Instrumental variables and causality, Two- stage least squares, 2SLS inference, IV with heterogeneous potential outcomes
- Difference-in-differences Estimator: Individual fixed effects, difference-in-differences, regression DD
- Statistical Properties of Financial Returns, Univariate Time Series and it’s Applications in Finance
- Multivariate Time Series Analysis and its Application in Finance
- Cointegration and Error Correction Model and its Application in Finance
- Univariate Volatility Modeling
- ARCH and GARCH Model
- Historical Volatility, Realized Volatility and Implied Volatility
- Markov and Regime Switching Model and its Application in Finance
- Multivariate Volatility and Correlations Model and its application in finance
- Overview of the Empirical methods to address Endogeneity: Ordinary least squares, Limited dependent variables, Instrument variable, Estimation methods for longitudinal data, Control function estimation
- Overview of the Corporation and Corporate Governance: Financing modes and agency conflict, Internal Corporate governance mechanism, External corporate governance mechanism
- Ownership structure corporate governance Issues: Opportunism of controlling shareholders, Type-I and Type-II agency cost, Measurement of Type-I and Type-II agency cost
- Effect of corporate governance and ownership on firm’s performance, firm’s accounting practices, firm policies like taxation, cash holding etc. Merger and Acquisition Executive compensation
- Corporate governance and stakeholder management: firms should optimize the stakeholder or the shareholder’s return, relationship between firm’s financial and firm’s social performance, drivers of firm’s Corporate Social Responsibility and its effect on firm’s policy