Microeconomics Course Syllabus 2024: Semester Subjects, Electives, Books, Specializations

Introductory Microeconomics

This course is designed to expose students to the basic concepts of microeconomic theory. The focus of the course will be on thinking like an economist and demonstrating how to apply microeconomic concepts to real-world problems. The scope and method of economics; the economic problem: scarcity and choice; the question of what to produce, how to produce, and how to distribute output; economic science; markets and competition; determinants of individual demand/supply; demand/supply schedule and demand/supply curve; market versus individual demand/supply; shifts in the demand/supply curve, demand and supply together;

Mathematical Methods in Economics-I

This is the first of two mandatory courses. This series aims to teach the body of basic mathematics required for undergraduate economic theory study, namely the courses on microeconomic theory, macroeconomic theory, statistics, and econometrics included in this syllabus. In this course, specific economic models are used to demonstrate the process of applying mathematical tools to economic theory in general rather than as the outcome. The contents of the recommended textbook reflect the degree of difficulty at which the subject is to be taught.

Mathematical Methods in Economics-II

This is the second course of a compulsory two-course series. This component will be taught in Semester II after the first part of Semester I. This sequence's objective is to impart the body of fundamental mathematics essential for undergraduate study of economic theory, especially the courses on microeconomic theory, macroeconomic theory, statistics, and econometrics indicated in this syllabus. In addition, specific economic models are utilised in this course to explain how to use mathematical tools in economic theory in general. The suggested textbook's contents indicate the difficulty at which the topic is to be taught.

Statistical Methods for Economics

This is a course on statistical methods for economics. It begins with some fundamental concepts and terminology associated with statistical analysis and inference. Following that, the idea of probability is introduced, followed by probability distributions of discrete and continuous random variables and joint distributions. A discussion of survey data sampling methodologies follows. Next, the course introduces sampling distributions, which connect probability theory with statistical inference. Finally, the semester concludes with statistical inference subjects, including point and interval estimation.

Introductory Econometrics

This course provides an in-depth overview of key econometric ideas and methodology. It covers statistical concepts, including hypothesis testing, estimation, and diagnostic testing for basic and complex regression models. The course also covers the consequences and tests for regression model misspecification. Normal distribution; chi-square, t-, and F-distributions; parameter estimation; estimator features; hypothesis testing: generating statistical hypotheses; distributions of test statistics; hypothesis testing connected to population parameters; Ordinary least squares model estimation; estimator properties; degree of fit; hypothesis testing; scaling and units of measurement; confidence intervals; Forecasting using the Gauss-Markov theorem

Economics of Health and Education

United Nations member nations designated education and health as Millennium Development Goals, indicating their importance in improving well-being. These goals are universal primary education, child mortality, improved mother health, and disease prevention. This course presents a microeconomic framework for analysing individual health and education choices and government action and aspects of unfairness and discrimination in both sectors. It also provides information about Indian health and education.

1

Introductory Econometrics

Applied Econometrics

This course's goal is to provide a foundation in applied econometric analysis and develop skills needed for empirical economics research. The subjects covered are regression model construction and selection, dynamic econometric models, advanced regression analysis methodologies, and panel data models. In addition, this course involves knowledge of econometric software and computer skills since the focus is on technique application.

2

Introductory Macroeconomics

Introductory Macroeconomics

This course is designed to expose students to the fundamental concepts of macroeconomics. The study of the whole economy is known as macroeconomics. This course covers the fundamental concepts involved in calculating and measuring aggregate macroeconomic variables such as savings, investment, GDP, money, inflation, and the balance of payments.

2

Statistical Methods for Economics

Comparative Economic Development

This course covers selected subjects from the nineteenth and early twentieth centuries in a comparative historical framework. The course focuses on a group of countries that followed distinctly different growth trajectories and patterns to achieve their industrial transition. It compares the outcomes of these various trajectories on sectoral change, inter-sectoral relations, labour processes, industrial relations, and the role of the state in facilitating the respective trajectories.

3

Intermediate Microeconomics

Intermediate Microeconomics-I

The course is intended to provide students with a solid basis in microeconomic theory, allowing them to explore the behaviour of individual agents formally. Because students have previously been exposed to quantitative procedures in prior semesters, mathematical tools are employed to assist students in understanding the fundamental concepts. This course analyses consumer and producer behaviour and the behaviour of a competitive organisation.

4

Public Economics

Public Economics

The study of government policy from economic efficiency and equality standpoints is known as public economics. This study aims to look at the nature of government involvement and how it affects allocation, distribution, and stability. This research offers a thorough examination of government revenue and spending. The scope of the issue is extensive, including public benefits, market failures, and externalities. The study is split into two parts: public economic theory and Indian public finances.

5

Indian Economics

Indian Economics-I

This course examines important patterns in economic statistics and policy debates in India since independence, focusing on paradigm changes and turning points identified via the use of suitable analytical frameworks. Because of the rapid changes in India, the reading list will need to be updated on an annual basis.

5

Development Economics

Development Economics-I

This is the first of two economic development articles. The course starts with a look at several development theories and their rationales. It then moves on to aggregate growth models and cross-national comparisons of growth experiences, which may be useful in evaluating these models. Next, inequality measures are developed using the axiomatic framework for measuring inequality, and the link between growth and inequality is investigated. Finally, the course concludes with a discussion of the state's role in economic development and the informational and incentive issues that impact state governance.

6

Indian Economics

Indian Economics-II

This course investigates sector-specific policies and their effects on key Indian economic indicators. It focuses on critical policy concerns and analyses empirical data from India. Due to the country's fast development, the reading list will need to be updated yearly.

6

Development Economics

Development Economics-II

This is the second of two modules on economic development. It starts with fundamental demographic principles and their change over time. Next, impoverished nations' specific enforcement issues are tied to market and contract structure. Next, the governance of communities and organisations is investigated, and the findings are related to long-term development concerns. The course concludes with perspectives on globalisation's impact and greater international reliance on the development process.

Principles of Microeconomics

Principles of Microeconomics

N. Gregory Mankiw

This popular and well-regarded microeconomics textbook is now in its sixth edition. It thoroughly covers all of the fundamentals of microeconomics while being amazingly easy to read for a dense college textbook. It's organised into chapters, Mankiw is a well-known economist, and it's a fantastic place to start for beginners.

Applied Econometrics

Freakonomics: A Rogue Economist Explains the Hidden Side of Everything

Steven Levitt and Stephen J. Dubner

Without the immensely well-known and amusing Freakonomics, no list of microeconomics books would be complete. The book, a collection of articles by Levitt and Dubner, focuses on how economic principles might be used in everyday life. There are chapters on infidelity, drug dealing, the KKK, and even naming children. It was such a tremendous success that it spawned a blog, a radio show, a sequel, and even a film.

Statistical Methods for Economics

Prices and Quantities: Fundamentals of Microeconomics

Rakesh V. Vohra

This book attempts to transform the way microeconomics is taught by starting with the most fundamental concepts that only involve one variable and gradually proceeding to more difficult issues. Because calculus becomes progressively difficult as the book proceeds, the mathematics necessary to appreciate microeconomics is reduced completely. Vohra also employs real-life examples to clarify ideas, making this an excellent addition to any microeconomics resource.

Statistical Methods for Economics

Thinking, Fast and Slow

Daniel Kahneman

Thinking, Fast and Slow is much more than a summary of Kahneman's findings covering decades of very successful economics work. Instead, it's simply a book on how human judgement can't be trusted - and how knowing this may shift your perception of your decision-making processes and impact your life. The book has sold over a million copies and is considered a classic in behavioural economics.

Applied Econometrics

Microeconomics

Paul Krugman and Robin Wells

Like their work on macroeconomics, Krugman and Wells' book on microeconomics is understandable, well-written, and covers all you'll need to know about the topic. It makes every effort to avoid jargon while presenting its topics, and it employs several real-world examples to make them as understandable as possible. This is an excellent book if you want to avoid the dense terminology and jargon of economics and instead study microeconomics, which isn't rocket science after all!

Symbiosis School of Economics

IGNOU Delhi

Jamia Millia Islamia

MSU Baroda

Christ University