ECO-HC-4016: INTERMEDIATE MICROECONOMICS - II

Course Description

This course is a sequel to Intermediate Microeconomics I. The emphasis will be on giving conceptual clarity to the student coupled with the use of mathematical tools and reasoning. It covers general equilibrium and welfare, imperfect markets and topics under information economics. Paper Code: 

Unit 1: General Equilibrium, Efficiency and Welfare

a) Exchange Economy, Consumption Allocation and Pareto Optimality; Edgeworth Box and Contract Curve; Equilibrium and Efficiency under Pure Exchange.

b) Pareto Efficiency with production: Concepts of PPF, Social Indifference Curves and Resource Allocation.

c) Perfect Competition, Pareto Efficiency and Market Failure (Externalities and Public Goods), Property Right and Coase Theorem. 

Unit 2: Market Structure and Game Theory

a) Monopoly, Pricing with Market Power; Degree of Monopoly, Price Discrimination-Different Degrees; Multi-plant Monopoly, Peak-Load Pricing.

b) Monopolistic competition; Product Differentiation; Perceived and Proportionate Demand Curves; Price-Output Determination.

c) Oligopoly and Game Theory (Two Person Zero Sum Game, Basic ideas and examples of non zero sum games, Prisoner’s Dilemma), Applications of Game Theory in Oligopolistic Markets (Cournot Equilibrium, Bertrand Equilibrium, Stackleberg Equilibrium). 

Unit 3: Markets with Asymmetric Information 

Information Asymmetry, Adverse Selection, Moral Hazard, Signaling and Screening.

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ECO-HC-4026: INTERMEDIATE MACROECONOMICS - II

Course Description

This course is a sequel to Intermediate Macroeconomics I. In this course, the students are introduced to the long run dynamic issues like growth and technical progress. It also provides the micro-foundations to the various aggregative concepts used in the previous course.

Course Outline

1. Economic Growth

Harrod-Domar model; Solow model; golden rule; technological progress and elements of endogenousgrowth.

2. Microeconomic Foundations

a. Consumption: Keynesian consumption function; Fisher‘s theory of optimal intertemporal choice; life-cycle and permanent income hypotheses; rational expectations and random-walk of consumptionexpenditure.

b. Investment: determinants of business fixed investment; residential investment and inventoryinvestment.

c. Demand formoney.

3. Fiscal and Monetary Policy

Active or passive; monetary policy objectives and targets; rules versus discretion: time consistency; the government budget constraint; government debt and Ricardian equivalence.

4. Schools of Macroeconomic Thoughts

Classicals; Keynesians; New-Classicals and New-Keynesians.

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ECO-HC-4026: INTRODUCTORY ECONOMETRICS

Course Description

This course provides a comprehensive introduction to basic econometric concepts and techniques. It covers statistical concepts of hypothesis testing, estimation and diagnostic testing of simple and multiple regression models. The course also covers the consequences of and tests for misspecification of regressionmodels.

Course Outline

1. Statistical Background

Normal distribution; chi-sq, t- and F-distributions; estimation of parameters; properties of estimators; testing of hypotheses: defining statistical hypotheses;distributions of test statistics; testing hypotheses related to population parameters; Type I and Type II errors; power of a test; tests for comparing parameters from two samples.

2. Simple Linear Regression Model: Two Variable Case

Estimation of model by method of ordinary least squares; properties of estimators; Gauss-Markov theorem; goodness of fit; tests of hypotheses; scaling and units of measurement; confidence intervals; forecasting.

3. Multiple Linear Regression Model

Estimation of parameters; properties of OLS estimators; goodness of fit - R2and adjusted R2; partial regression coefficients; testing hypotheses – individual and joint; functional forms of regression models; qualitative (dummy) independent variables.

4. Violations of Classical Assumptions: Consequences, Detection and Remedies

Multicollinearity; heteroscedasticity; serial correlation.

5. Specification Analysis

Omission of a relevant variable; inclusion of irrelevant variable; tests of specification errors.

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ECO-HG-4016: Principles of Macroeconomics–II

Course Description

This is a sequel to Principles of Macroeconomics–I. It analyses various theories of determination of National Income in greater detail. It also introduces students to concept of inflation, its relationship with unemployment and some basic concepts in an open economy.

Course Outline

1. IS-LM Analysis

Derivations of the IS and LM functions; IS-LM and aggregate demand; shifts in the AD curve.

2. GDP and Price Level in Short Run and Long Run

Aggregate demand and aggregate supply; multiplier Analysis with AD curve and changes in price levels; aggregate supply in the SR and LR.

3. Inflation and Unemployment

Concept of inflation; determinants of inflation; relationship between inflation and unemployment: Phillips Curve in short run and long run.

4. Balance of Payments and Exchange Rate

Balance of payments: current account and capital account; market for foreign exchange; determination of exchange rate.

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ECO-SE-4014: Data Analysis

Course Description:

This course discusses how data can be summarized and analysed for drawing statistical inferences. The students will be introduced to important data sources that are available and will also be trained in the use of statistical softwares like SPSS/PSPP to analyse data.

Course Outline:

1. Data entry in softwares like MS-Excel, SPSS/PSPP

2. Univariate frequency distributions. Measures of central tendency: mean, median and mode; arithmetic, geometric and harmonic mean. Measures of dispersion: range, mean deviation and standard deviation, skewness and kurtosis.

3. Bivariate frequency distribution. Correlation and regression. Rank correlation.

4. Estimation of population parameters from sample data. Unbiased estimators for population mean and variance.

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Post ID: DABP001689