M.Phil Courses

Compulsory Courses
  • EC601: Microeconomics
    • Consumer demand systems and duality
    • Input demand and output supply systems and duality
    • Household production and resource allocation
    • Aggregation issues in microeconomics analysis
    • Empirical modeling for microeconomic analysis
    • Frisch demand system and inter-temporal choice problem
    • Game theory, information and choice
    • Applications of game theory to price setting under alternative market structures
    • Multi-market equilibrium and economic efficiency
    • Market distortions, economic inefficiency and corrective solutions
    • Basis for theory and measurement of social welfare
  • EC613: Advanced Econometrics
    • Structure and assumptions and estimation of Classical Linear Model
    • Estimation of non-linear regression models
    • Structure and assumptions of Generalized Regression Models and Generalized Least Squares method
    • Endogeneity problem, instrumental variables, identification and estimation
    • Goodness of fit and statistical inference: t, F, LR, LM and Wald tests
    • Model Selection: choice of variables and functional form, Hausman test; testing of non-nested models
    • Dummy variables, structural shifts, seasonality, tests of structural shifts and model stability, Splines functions,
    • Heteroscedasticity, autocorrelation, multicollinearity and endogeneity: Structure, causes, consequences, tests/symptoms and estimation/solutions
    • Pooled time series and cross section data: Structure, assumptions and estimation techniques
    • SUR (Seemingly Unrelated Regression) models: Structure, assumptions and estimation
    • Simultaneous equations: Structure, identification and estimation
    • Limited Dependent Variables: Linear and non-linear probability models for bivariate and multivariate models, data censoring and selectivity bias
  • EC605: Macroeconomics
    • Information and expectations in macroeconomic modeling
    • Solution methods for macroeconomic models
    • Empirical macroeconomic modeling and policy analysis
    • Theories and models of economic growth
    • Applied models of economic growth: measurement and estimation issues
  • EC614: Econometric Forecasting
    • Concepts of estimation, forecasting, prediction, simulation and calibration
    • Structure and solution of stochastic difference equations
    • Univariate time series models, estimation and forecasting
    • Multivariate time series models, estimation, forecasting and simulation
    • Tests and estimation of Co-integrating relationships
    • Solution and analysis of DSGE models
Optional Courses
  • EC615: Capital and Growth
    No Content
  • EC620: Optimization Techniques
    Classical, linear and non-linear optimization problems and applications in economics; alternative approaches to dynamic optimization in continuous and discrete times; models with and without perfect foresight; capital accumulation, human resource development optimum growth and dynamic efficiency.
  • EC621: Research Methodology
    Identification of research problems; research design; randomized and correlated groups; field study and survey research; preparing a sample design; preparing questionnaire; choice of empirical techniques; preparation of research reports.
  • EC630: Issues in Development Economics
    Institutions and Development: state, market, and civil institutions; foreign trade and development; models of development economics and growth; research end development and technology; growth, equity, poverty and human development; governance, policies and political issues; development theory in closed and open economies; political economy models and issues.
  • EC631: Globalization and Economic Integration
    Theory of economic integration; institution of economic integration; custom union theory; empirical research on the trade and welfare effects of economic integration; theory of optimum currency areas and the mechanisms of the European monetary system and macroeconomic policy; NAFTA, ASEAN, APEC, SAARC and ECO; regional industrial and social policy; meaning of globalisation; effects of globalisation on developed and developing countries.
  • EC640: Topics in Applied Economics
    Emphasis on the practical applications of econometric theory as developed in other courses; specific problems in the specification, estimation and testing of various microeconomic theories of demand, production, and labour as well as the macroeconomic relations of monetary, inflation, and unemployment theory. Emphasis will be on data analysis, reliability of data, and discrimination between competing models on the basis of empirical tests.
  • EC641: Production Analysis
    Theory of production and production sets; input-output relations and production functions; joint products and production externalities; dual approaches to study of technology; empirical models of production, measurement of productivity growth, flexibility of production processes and technological change; alternative approaches to the measurement of technical and economic efficiency in production.
  • EC642: Consumer Demand Analysis
    Introduction and historical perspective; optimisation and fundamental demand matrix; duality in consumer theory; non-flexible functional forms: double log model, Leser model, Stones approach, the linear expenditure system, indirect addilog and generalised additive; flexible functional forms: the Rotterdam model, the Almost Ideal Demand System (AIDS), the translog demand system, the Fourier flexible form and Box-Cox flexible form; separability and aggregation issues in consumer, demand analysis; model selection in demand models; revealed preference and non-parametric demand analysis.
  • EC645: Advanced Monetary Economics
    Alternative views about monetary policy (Classical, Keynesian, Monetarist, New Classical); monetary policy in an international framework; money demand and empirical evidence; money in growth models; money in over-lapping generations models; inflationary finance; burden of government debt and government borrowing; current issues in monetary and financial sector reform.
  • EC650: International Economics
    Microeconomic aspects of international economics; theories of international specialization and exchange; trade policy and economic welfare; international factor movement; trade and growth; trade and technical progress; trade policy and welfare economics.
  • EC655: Issues in Public Economics
    Public goods, externality and congestion; distribution and economic welfare; public expenditure evaluation principles; theories of taxation; increasing returns, imperfect competition, externality and growth; public capital, human capital and growth dynamics; resource gaps, capital flows and debt dynamics.
  • EC660: Topics in Labour Economics
    Life-cycle human capital accumulation; models of learning and sorting; patterns of wage growth
    . and mobility decisions; intergenerational transmission of inequalities in human capital; link between specialized human capital, coordination costs and extent of the market; rates of return to education and income inequality; wage structure and income distribution; allocation of time within households; empirical aspects of female labour supply.
  • EC662: Issues in Human Resource Development
    Role of human resources in economic development; investment in education, rates of return to education and distribution of earnings; health, nutrition and productivity of human resources; mobility and migration of human resources; women and human resource development; financing of human resource development; strategies of human development; human development indexes.
  • EC663: Population Dynamics
    Population theories; population growth and economic development; fertility: trends, determinants and female labour market behaviour; mortality and issues of population ageing; demographic profile of the population and population dynamics; population growth and the environment; spatial distribution of population, internal migration and urbanisation; population policies and the health sector.
  • EC665: Agricultural and Resource Development
    Economic policies and programs for regional specialisation an diversification; issues of irrigation and water management; arid zone farming issues; agricultural labour force and mechanisation; taxation and credit in agricultural sector; integration of farm enterprises; agricultural marketing; resource policy criteria non-renewable and renewable resource policy; land markets and land use issues; comparative analysis of water resource projects; foreign trade and agriculture.
  • EC669: Issues in Energy Economics
    Optimal energy resource management; theory of depleting energy resources; risks in energy markets; energy supply and internalising externalities; cost-benefit analysis and investment decision making; issues on natural monopolies in the energy sector; regulation of monopolies in the energy sector; alternate sources and backstop technologies.
  • EC671: Issues in Regional Economics
    Survey of regional economic analysis; impact of distance on classical economic markets and theory of the firm; industrial and residential location analysis; regional delineation; factor mobility; gravity models; regional economic growth and its measurement; urban and regional economic planning; c03t-benefit analysis and economic base analysis.
  • EC675: Economics of Business and Finance
    EC675: Economics of Business and Finance
    Role and functioning of business firms; mechanism of economic control of business, government regulations and behavior of business firms; financial analysis and planning; financial leverage; financing in imperfect markets
  • EC677: Financial Economics
    EC677: Financial Economics
    Asset pricing theory in continuous time; optimal portfolio and consumption decisions of investors including dynamic programming and martingale approaches; the pricing of contingent claims; and the equilibrium asset pricing models (CAPM, ICAPM) and the APT
  • EC686: Issues in Health Economics
    EC686: Issues in Health Economics
    Information asymmetry, moral hazard, adverse selection and principal-agent problem in health care market; issues in health insurance markets and public versus private health insurance; benefits-cost analysis of prevention and cure; human capital and economic growth
  • EC691: Topics in Islamic Economics
    EC691: Issues in Islamic Economics
    Islamic economics in historical perspective; Islamic economics and its difference with neo-classical economics; recent developments in Islamic economics and their applications; Islamic concept of ownership and its limitations; Islamic principles for consumption, production, investment, commerce and trade; institution of zakat and its social and economic implications; usury and interest free banking; equity and justice in an Islamic system
  • EC699: M.Phil. Dissertation