Year II

Number of Credits – 03

Prerequisites – 2101.3

Compulsory/Optional: Compulsory

This module covers an intermediate level course in Microeconomic theory. It concentrates on formalizing and applying the concepts introduced in the Principles of Microeconomics. The module begins with studying theories of the consumer and the producer. Then combine both theories to individual markets, including perfect competition, monopoly and oligopoly. The module will end with an analysis of the efficiency of competitive markets and the cases when the competitive markets may fail.

Recommended Readings

• Koutsoyiannis, A. (2003) Modern Microeconomics, Hong –Kong: English Language Book Society/Macmillan.
• Lipsey, R.G. and Harbury C.D., (1992) First Principles of Economics, U.K.
• Lipsey R.G., (1989) An Introduction to Positive Economics, UK: Oxford University Press/ELBS.
• Varian, H.R., (2000) Intermediate Microeconomics, New Delhi.

Lectures: 30 Hours

Tutorials: 15 Hours

Continous Assesments: 20%

Final Assessment: 80%

No: of Credits: 3

Pre-Requisites: ECON 1201.3

Compulsory/Optional: Compulsory

This course introduces the students to formal modeling of a macro-economy in terms of analytical tools. It discusses various alternative theories of output and employment determination in a closed economy in the short run as well as medium run, and the role of policy in this context. It also introduces the students to various theoretical issues related to an open economy.

Recommended Readings

• Lipsey, R.G., (1982). An introduction to positive Economics, Seventh Edition, Weidenfeld & Nicolson Ltd., London.
• Miller, R.L. and Vanhoose, D., Second Edition, South-Western College Publishing, Ohio

Lecture: 30 Hours

Tutorial :15 Hours

Continuous Assessments: 20%

Final Assessment: 80%

This course investigates the role of the public sector in the economic arena and attempt to explain why government intervention is needed, how it influences the behaviour of the private sector and what the welfare effects of such influences are. Further, survey political economy, which regards actions of the public sector as determined by political processes. Topics covered may include welfare economics, market failures, and political economy

Recommended Readings

• Bahl, Roy W., and Johannes F. Linn, (1992). Urban Public Finance in Developing Countries, Oxford: Oxford University Press.
• Batia, H. L. (1993), Public Finance, 17th Revised Edition.
• Musgrave, R. A., and P. B. Musgrave, (1976). Public Finance in theory and Practice, Second Edition, New York: McGraw-Hill
• Samuelson, P. A., (1954). “The Pure Theory of Public Expenditure”, Review of Economics and Statistics, 36(4) (1954), 387-89, in J. E. Stiglitz, ed., The Collected Scientific Papers of P. A.
• Samuelson, Vol. II, Cambridge: The MIT Press, 1966, pp. 1223-1225

Number of Credits – 03

Prerequisites – ECON 2101.3

Compulsory/Optional: Compulsory

Study of microeconomic theory with an emphasis on utilizing mathematical tools to analyze various economic issues, such as consumer behavior, revealed preferences, intertemporal consumption, consumption and risk, and theory of production and cost. Topics covered also include market structures and behavior, game theory, factor markets, general equilibrium and welfare economics, and impacts of externalities, public goods, and asymmetric information on level of welfare.

Recommended Readings

• Pindyck, R. S., & Rubinfeld, D. L. (2013). Microeconomics: International Edition. Ahuja, H. L. (2009). Advanced economic Theory. New Delhi, S. Chand & Company Ltd.

Lectures: 30 Hours

Tutorials: 15 Hours

Continous Assesments: 20%

Final Assessment: 80%

No: of Credits: 3

Pre-Requisites: ECON 2104.3

Compulsory/Optional: Compulsory

This course helps students develop the understanding that they will need to make informed decisions using data, and to communicate the results effectively. The course is an introduction to the essential concepts, tools and methods of statistics for students in business, economics and similar disciplines, although it may have wider interest. The focus is on concepts, reasoning, interpretation and thinking rather than computation, formulae and theory. Much of the work will require students to write effectively and communicate their ideas with clarity. The course covers two main branches of statistics: descriptive statistics and inferential statistics. Descriptive statistics includes collecting data and summarising and interpreting them through numerical and graphical techniques. Inferential statistics includes selecting and applying the correct statistical technique in order to make estimates or test claims about a population based on a sample.

Recommended Readings

• Agrawal, D.R. (2002). Statistics for Economists, Vrinda Publications Pvt Ltd.
• Hooda R.P. (2013). Statistics for Business and Economics, 5th Edition, Macmillan publication
• Jonson R., and Kuby, P., (2012). Elementary Statistics, 11th Edition, Cengage Learning.
• Kazmier L.J. (2019). Basic Statistics for Business and Economics, 9th Edition, McGrawHill
• Lind D.A., Marchal W.G., and Wathen S.A., (2018). Statistical technique in Business and Economics, 17th Edition, McGraw-Hill.
• Murray R.S., and Larry J.S., (2014). Theory and Problems of Statistics (Schaum’s Outline Series), 5th Edition, McGraw-Hill.

Lecture: 30 Hours

Tutorial :15 Hours

Continuous Assessments: 20%

Final Assessment: 80%