Major-Minor Courses (Economics)

The Economics Specialization aims to expose students to the theoretical, analytical frameworks and policy within the discipline of Economics. This specialization enables students to rationalize through analytical frameworks, evaluate empirical evidence and develop a critical approach to understanding interactions between theory and policy. 

Through this specialization students will examine a range of questions: How businesses compete and manage to survive in a globalized economy? What are the main drivers of the economy and how are policies formulated to promote growth and development with minimum degree of inequality across the country? What is the importance of taxation and government expenditure, and its impact on the growth of the economy? How mathematical models are used to explain economic phenomenon?

The Economics Major enables students to excel in the area of economic analysis by contributing to debates and economic commentary, decision making in corporate and/or government environment, and contribute towards research. The courses cover a range of courses in Economics viz. Microeconomics, Macroeconomics, Indian Economy, International Economics, Econometrics, etc. These courses are covered at introductory, intermediate and advanced level. At the introductory level, the focus of the course is on qualitative aspects, while at advanced levels the course focuses on quantitative aspects and applications of the model. The specialization goes beyond mere exploration of text and concentrates on development of both Qualitative and Quantitative reasoning capabilities. The specialization trains students to generate analysis and critical insights rooted in appropriate methodological approaches, through reflective reading and writing and interpretation of data pertaining to economic activities. These skills are imparted to students through lectures, seminars and presentations.

The specialization specific introductory courses in the Major introduce students to concepts in Microeconomics, Macroeconomics and applied fields of Economics. They focus on familiarizing students with the qualitative aspects of theories and rationalize its application to everyday business activities. Intermediate courses focus on understanding the assumptions and criticisms of the theories. They focus on understanding economic thought, working of international trade systems, financial system, etc. The advanced courses in economics focus on applying mathematical tools to economic theories. The courses also encourage students to techniques used in analyzing economic data. Students are also expected to write papers on topics in Economics.

The Economics Minor exposes students to the core theoretical foundations of Economics along with their applications to areas such as International Economics, Public Finance, etc. The specialization equips students to generate analysis and critical insights rooted in appropriate methodological approaches, through reflective reading and writing and interpretation of data pertaining to economic activities. These skills are imparted to students through lectures, seminars and presentations. The students pursuing Minor in Economics can choose to follow one of the tracks, quantitative or non-quantitative. Those who choose quantitative track will take quantitative/statistics/mathematics related course; while those who choose non-quantitative track will take other thematic courses.  

The Economics Specialization prepares students for not only advanced graduate-level work in Economics, but also in Business Management, Law, Environmental Studies, Public Policy, Actuarial Sciences or related social sciences. With its equal emphasis on theory as well as analysis, it will serve as a sound grounding for students interested in pursuing careers in the Civil Services, Financial Service Institutions, Market Research Firms, Data Processing Consulting, Economic Journalism, Research, Intergovernmental Organizations or Non-Governmental Organizations.

The Economics Major aims to:

• Instil breadth of knowledge by exposing them to a range of disciplines, while encouraging them to progress towards an in-depth understanding of their chosen fields
• Develop an analytical, contextual and interdisciplinary understanding of concepts, theories and associate them with real life situations
• Expose students to multiple worldviews and foster skills in close reading, critical analysis and teamwork
• Develop habits that foster independent thought and a critical approach to content. The Specialization not only strives to deliver content but also tries to inculcate a spirit of inquiry within the student
• Develop a solid grasp of the concepts, theories, analytical frameworks within the discipline of Economics
• Prepare students for graduate study in any of the sub-disciplines of Economics
• Excel in the area of economic analysis, economic model building, decision making and intensive academic research

The Economics Minor aims to:

• Instil breadth of knowledge by exposing them to a range of disciplines, while encouraging them to progress towards an in-depth understanding of their chosen fields
• Develop an analytical, contextual and interdisciplinary understanding of concepts, theories and associate them with real life situations
• Expose students to multiple worldviews and foster skills in close reading, critical analysis and teamwork
• Develop habits that foster independent thought and a critical approach to content. The specialization not only strives to deliver content but also tries to inculcate a spirit of inquiry within the student
• Develop a solid grasp of the concepts, theories, analytical frameworks within the discipline of Economics
• Prepare students for graduate study in any of the sub-disciplines of Economics

On completion of the Major the student will:  

• Demonstrate in-depth knowledge and understanding of varied economic concepts and theories and their application
• Demonstrate understanding of various schools of economics and their evolution over time
• Be able to collect data from primary and secondary sources, perform analysis, and generate relevant reports
• Be able to deconstruct economic data and analyze it demonstrating economic research skills, synthesize information and generate original insights
• Think, read and write critically about economic theories and changing economic situations
• Be able to communicate, articulate and reason effectively

On completion of the Minor the student will:  

• Demonstrate knowledge and understanding of varied economic concepts and theories and their application
• Explore major schools of economic and their evolution over time
• Be able to undertake data collection from primary and secondary sources and perform analysis and generate relevant reports
• Think, read and write critically about economic theories and changing economic situations
• Be able to communicate, articulate and reason effectively