The first core course in the graduate programme of MA Economics. The course fundamentally articulates the following outcome.
CO1: Identify appropriate economic models (e.g., models of perfectly competitive markets and various market imperfections) and apply them to analyse and predict the behaviour of individuals and firms interacting in markets.
CO2: Articulate how individuals and society as a whole benefit or are harmed by economic markets.
CO3: Derive the central results about decision-making and optimum choice (under certainty) of the consumers and firms from first principles.
CO4: Determine the profit maximizing price and quantity under perfect and imperfect competition by use of marginal analysis.
CO5: Course Outcome: Understand the assumptions that underline standard microeconomic models of individual behaviour in a world with scarce resources.
CO6: Understand the utility maximization and expenditure minimization problems
Aim: Make the learners able to
- Familiarize both theoretical and empirical aspects of international economics
- Understand the consequences of global interdependence
- Evaluate the international economic problems and issues facing the world economies
- to familiarize students with the concepts and application of cross section, time series and panel data analysis
- to equip students to analyse real life data with the help of econometric tools
- to help students to increase their analytical power substantially along with enhancement of other cognitive skills.