Economics is the study of how people interact with each other and with the natural environment to produce and reproduce their livelihoods, and how these situations change over time. It is about the various sorts of social dealings that create, coordinate and maintain the structures of our lives, be these markets, states or social norms. A well trained economist develops many sensibilities and capacities to understand and improve the workings of these facets of life. The undergraduate program is designed to help produce economists who are socio-politically engaged, quantitatively adept, historically informed and philosophically grounded.
Azim Premji University is part of a group of international institutions that include the Institute for New Economic Thinking-New York, and Sciences Po-Paris contributing to a project (www.core-econ.org) dedicated to developing an innovative undergraduate Economics curriculum. The CORE project, based at the Oxford Martin School, University of Oxford has produced a new introductory undergraduate textbook that will be provided free globally and used by many leading Universities in the world. Leading Economists from all over the world have contributed to writing the book. Our Faculty Arjun Jayadev is one of the contributors for the CORE-ECON project. Click here to read Arjun’s blog.
Watch videos to learn more about the CORE project: Video I
Prof. Arjun Jayadev
"Students will be introduced to economic issues through a political economy approach that is historically grounded and that puts real world issues and problems in the forefront"
Programme and Credit Structure
Starting from 2019, the Economics Specialisation component will consists of 48 credits. This will consist of 36 credits from within economics and 12 credits that can be obtained from a series of allied courses some of which will be selected in consultation with the degree coordinators.
A) Economics Major - 36 Credits
This will be divided into 7 compulsory courses and 5 elective courses.
Compulsory Economics Courses- 21 credits(Click to expand)
Students have to do the following 7 compulsory Economics courses (of 3 credits)
- Introduction to Economics 1
The Introduction to Economics course is designed as either a first course in economics in conjunction with Introduction to Economics (II), or as a stand-alone introduction for those anticipating study in other fields. It develops an understanding of key economic themes from a social science perspective.
- Introduction to Economics 2
This course is designed as either a first course in economics in conjunction with Introduction to Economics (I), or as a stand-alone introduction for those anticipating study in other fields. This course is designed to engage more extensively with macro and political economy debates.
- Statistics and Programming
This course covers the principal mathematical techniques as used in economic theory and modeling, including an introduction to statistical inference. By the end of the course successful students will have the knowledge and skills to apply common mathematical and statistical techniques to economic issues and data.
- Intermediate Microeconomics
This course seeks to provide an overview of microeconomic theory and extend students' knowledge of the basic principles that will provide the foundation for future work in economics. Topics included are the behavior of individuals, households, firms and the interaction of these agents, and the organization of markets and institutions. Game theory and public goods will also be studied in this course.
- Political Economy
- Intermediate Macroeconomics
This course develops conceptual foundations and analytic methods in macroeconomics. Topics include the analysis of theories of determination of national income, aggregate employment, and the price level; monetary and fiscal policy; Inflation; unemployment; open economy macroeconomics; role of future expectations; and the current economic crisis.
- The Indian Economy
Elective Economics Courses- 15 credits(Click to expand)
Elective courses will be offered in the 4,5 and 6 semester of the program. Electives courses will be provided under three different modalities:
- Courses which introduce students to economic theory and methods. Establishing a framework for understanding economic phenomena. This could include mathematical approaches, and statistical understanding
- Courses which introduce students to different theoretical perspectives within economics
- Courses which provide a context for the theories. These could include history, data, case studies, field work and so on.
Students have to take at least one elective from each of these baskets.
They should complete 5 elective courses (of 3 credits) from the above baskets.
B) Distributed Courses -12 Credits
This will be divided into 2 compulsory and 2 elective courses
Distributed Courses (Compulsory) – 6 credits(Click to expand)
Students are mandated to complete the following two courses (of 3 credits)
- Mathematical Reasoning
- Writing for Economics
Distributed Courses (Electives) – 6 credits(Click to expand)
Students can choose 2 courses (of 3 credits) from the following cross-listed Major courses.
We will encourage students to take courses from the same Major. The courses listed are not final, but indicative.
- Mathematics Courses : Linear Algebra, Real Analysis, Non-Linear Dynamics
- Biology Courses : Introduction to Bio 1 and 2, Molecular Biology, Genetics
- Philosophy Courses : Political Philosophy, Intro to Philosophy, Logic and Reasoning
- History Courses : History of Colonial India, Imperialism
Graduating from the program requires the successful completion of
84 credits spread across Specialisation (48 credits) and Common Curriculum courses (36 credits).
Honours pathway have specific entry criteria and students have to complete additional 12 credits. (Over and above the mandated 84 credits)
This includes credits from classroom courses and working on a honours project. The honours project is designed for students to be able to apply their knowledge in a synthesized piece of work. An honours thesis will involve working closely with a faculty member on a specific topic, developing a research question and writing up a thesis.
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