christ (deemed to be university) pune lavasa …...isaac, s., and michael, w.b. (1981). handbook in...

CHRIST (Deemed to be University)Pune Lavasa Campus

www.lavasa.christuniversity.in

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PROGRAMME STRUCTURE

SEMESTER I

SEMESTER II

Course Title Hours / Week Marks Credits

MBE231 Microeconomic theory and

applications-II

4 100 4

MBE232 Macroeconomic theory and policy-II 4 100 4

MBE233 Advanced Mathematical Economics 4 100 4

MBE234 Econometric Methods 4 100 (75+25) 4

ELECTIVES

MBE235 Financial Statement Analysis 4 100 4

MBE236 Data Visualization for Business

Decisions

4 100 4

TOTAL 24 24

Course Title Hours / Week Marks Credits

CORE SUBJECTS

MBE131 Microeconomic theory and

applications-I

4 100 4

MBE132 Macroeconomic theory and policy-I 4 100 4

MBE133 Research Methodology for Applied

Economics

4 100 4

MBE134 Statistics for Economics 4 100 4

ELECTIVES 100

MBE 135 Introduction to Data Mining in R 4 100

MBE 136 Financial Management 4 100

TOTAL 24 24

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SEMESTER III

Course Title Hours /

Week

Marks Credits

MBE331 History of Economic Thought 4 100 4

MBE332 Economics of Growth and Development 4 100 4

MBE333 Behavioral Economics 4 100 4

MBE334 Applied Econometrics 4 100 (50+50) 4

MBE335 Internship 50 2

ELECTIVES-

MBE336 Security Analysis and Portfolio

Management

4

100

4

MBE337 Economics of Banking and Insurance 4 100 4

TOTAL 24 26

SEMESTER IV

Course Title Hours /

Week

Marks Credits

MBE431 Economics of Labour Markets 4 100 4

MBE432 Public Finance and Policy 4 100 4

MBE433 Environment and Resource Economics 4 100 4

MBE434 International Economics 4 100 4

MBE435 Dissertation 100 4

ELECTIVES

MBE436 Predictive Analytics 4 100 4

MBE437 Excel modeling for finance 4 100 4

TOTAL 24 28

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FIRST SEMESTER

MBE131 - MICROECONOMIC THEORY AND APPLICATIONS I

Total Teaching Hours for Semester: 60

Max Marks: 100 Credits: 4

OBJECTIVES: This paper aims at analyzing the Economic behaviour of the firms and markets. It is mainly

concerned with the objective of equipping the students in a comprehensive manner with various aspects of

consumer behavior and demand analysis, Production theory and behavior of cost, equilibrium of firm and

various forms of market.

UNIT 1: METHODOLOGY 5 Hrs .

Construction of theories: Deduction and induction; Empirical verification; Theories and tautologies.

UNIT 2: UTILITY AND DEMAND 15 Hrs .

Consumer preferences; Axioms of preference ordering; Utility function: existence and characteristics;

concavity and quasiconcavity; Budget sets; Demand functions: Zero homogeneity; Income and substitution

effects; Slutzky theorem: Indirect utility functions; Hicksian compensated demand functions; Expenditure

functions; Substitutes and complements: gross and pure; Revealed preference.

UNIT 3: PRODUCTION AND SUPPLY 20 Hrs.

Production functions; Concavity and quasiconcavity; Returns to a factor and to scale; Total, marginal and

average cost function; Long run cost curves: envelopes; Factor demand functions, Conditional factor demands;

Profit maximization; Supply functions, cost minimization – first and second order conditions; Linear

homogeneous production functions and their properties; Cobb-Douglas, CES, VES and Translog production

functions and their properties;Leontief’s production functions, Elasticity of substitution, its derivation for C-

D and CES functions; the impact of tax/subsidy.

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UNIT 4: MARKETS 20 Hrs.

Characterizing perfect competition; Pricing and output under perfect competitive markets; Monopoly markets:

Pricing, discrimination; welfare costs; Monopolistic competition: Characteristics; Long run and short run

behavior; Oligopoly: Cournot’s model; Stackleberg framework: Instability; Dominant firm; Compensating

variation; Price and output determination under monopsony and bilateral monopoly;

READINGS

1. Andreu Mas-Colell, M D Whinston and J R Green (1995), Microeconomic Theory, Oxford University

Press.

2. Henderson, J.M. and R.E. Quandt (2003), Microeconomic Theory: A Mathematical Approach,

McGraw Hill, New Delhi.

3. Kreps, David M. (1990), A Course in Microeconomic Theory, Princeton University Press,

Princeton.

4. Krugman, Paul. and Wells, Robin. (2005), Microeconomics, Worth Publishers.

5. Koutsoyiannis, A. (1979), Modern Microeconomics, (2nd Edition), Macmillan Press, London.

6. Sen, Anindya (2007), Microeconomics: Theory and Applications, Oxford University Press, New Delhi.

7. Varian, H. (2000), Microeconomic Analysis, W.W. Norton, New York.

8. Pindyck, Robert & Rubinfeld, Daniel (2013), Micro Economics, 8th Edition, Pearson Education, USA

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MBE132 - MACROECONOMIC THEORY AND POLICY I



OBJECTIVES: This paper aims at strengthening the knowledge of important macroeconomic variables and

their role in determining the equilibrium level of output and employment and provides insights into the factors

influencing the capital inflows and outflows in an open economy model. It helps the students to understand

the theoretical foundation of macroeconomics and the contribution of different schools of thought to the

further development of macroeconomics. The students will be able to critically evaluate the consequences of

basic macroeconomic policy options under differing economic conditions.

UNIT 1: INCOME AND OUTPUT DETERMINATION 10 Hrs .

The development of macroeconomics- Actual and potential output-GNP identity on the product, income and

disposition side-The government sector and foreign sector-Classical theory of income and employment- The

saving investment balance- The labour market equilibrium- Aggregate demand and supply, money and prices

in classical model- Keynes’ theory of employment- Consumption function, investment demand- Effective

demand- Determination of equilibrium income- Theory of multiplier-Derivation of the expenditure multiplier.

UNIT 2: DEMAND SIDE AND SUPPLY SIDE EQUILIBRIUM 14 Hrs.

Equilibrium income and the interest rate determination in the product market- Equilibrium income and the

interest rate determination in the money market- Derivation of IS and LM curves-Shift in IS and LM curves-

Simultaneous equilibrium- Fiscal and monetary policy effects on demand-Interaction of monetary and fiscal

policies- -Aggregate supply in the short run and long run-Supply side disturbances and reactions-Demand side

disturbances and reactions-Determination of equilibrium income, employment, rate of interest and price level.

UNIT 3: CONSUMPTION, SAVING AND INVESTMENT 10 Hrs.

Theories of aggregate consumption- Absolute income hypothesis- Relative income hypothesis- Life cycle

hypothesis-Permanent income hypothesis- Robert Hall and Random Walk Hypothesis- Non-income factors

affecting consumption-The MPS model-The wealth effect in the static model-The present value criterion for

investment-The marginal efficiency of investment-Investment demand and output growth-The accelerator

principle and stabilization policy-The rental cost of capital and investment-Tobin’s q theory of investment.

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UNIT 4: MONETARY AND FISCAL POLICY 16 Hrs.

The instruments of monetary policy-The mechanism of monetary expansion- money growth targeting and

inflation targeting -The effects of fiscal policy changes-Three ranges of LM curve-The effectiveness of

monetary and fiscal policy: Monetarists and Fiscalists-Tax rate changes and the budget deficit-Fiscal stimulus

and deficit financing- crowding out and crowding in controversy- Quantitative easing policies-

macroeconomic policies in advanced and emerging economies.

UNIT 5: THE EXTERNAL SECTOR EQUILIBRIUM 10 Hrs.

The current account and product market equilibrium-The capital account and balance of payments

equilibrium-Balance of payment adjustment and the LM curve- The Classical approach: The automatic

adjustment method- Balance of payment adjustment by policy measures: Mundell-Fleming model- The

expenditure changing policies- The expenditure switching policy: Devaluation- Monetary approach to Balance

of payment adjustments.

ESSENTIAL READINGS

1. William. H. Branson (2005). Macroeconomic Theory and Policy, Third Edition, All India Traveller

Book Seller Publishers, New Delhi.

2. D.N. Dwivedi. (2005). Macroeconomics: Theory and Policy. 2nd Edition, Tata McGraw Hill Education.

3. Levacic and Rebman. (1982). Macro Economics: An Introduction to Keynesian and Neo-Classical

Controversies. 2nd Edition, Macmillan Publishers.

REFERENCES

1. N. Gregory Mankiw. (2012). Macroeconomics. 8th Edition, Worth Publishers.

2. Dornbusch, Fischer, Startz. (2010). Macroeconomics. 11th Edition, Tata McGraw Hill.

3. Graeme Chamberline& Linda Yueh (2006). Thomson Learning.

4. Burda and Wyplosz (2009). Macroeconomics: A European Text, Fifth Edition, Oxford University

Press, New York.

5. M. Maria John Kennedy (2011). Macroeconomic Theory, PHI Learning Private Limited, New Delhi.

6. H. L. Ahuja. (2012). Macroeconomics: Theory and Policy. 18th Revised Edition, Sultan Chand

Publishers.

7. Brain Snowdown, Howard Vane and Peter Wynarczyk. (1995). A Modern Guide to Macro

Economics: An Introduction to Competing School of Thought, Edward Elgar Publishing.

8. Edward Shapiro. (2011). Macroeconomic Analysis. 5th Edition, Galgotia Publication Ltd.

9. Ackley. G. (1978). Macroeconomics: Theory and Policy, Macmillan, New York.

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MBE133 - RESEARCH METHODOLOGY FOR APPLIED ECONOMICS



OBJECTIVES: Understanding of the importance of research in creating and extending the knowledgebase

of their subject area; Ability to distinguish between the strengths and limitations of different research

approaches regarding their subject/research area; Knowledge of the range of qualitative and quantitative

research methods potentially available to them; The ability to differentiate between the role of practitioners

and the role of researchers; An understanding of and begin to critically reflect upon issues of ethics and role

of the researcher; The skills to work independently, to plan and to carry out a small-scale research project.

UNIT 1: INTRODUCTION TO RESEARCH & RESEARCH METHODS 10 Hrs.

Ways of knowing and understanding the world and the research process - The nature of knowledge and theory

- Philosophy of Social Science Research - Relevance of Social Science Research - Objectivity and Values in

Social Sciences.

UNIT 2: LOGIC OF SCIENTIFIC INVESTIGATION 5 Hrs.

Theory Construction in Social Science Research - Approaches to Social Science and Managerial Research,

Theoretical, Applied and Action Research - Ethical Issues in Research on Human or Social Subjects - Non-

sexist approach in Social Sciences.

UNIT 3: RESEARCH DESIGN 15 Hrs.

Review of Literature - Identification of Research Gaps and Research Needs - Identification, selection and

formulation of research problem - Formulating Hypotheses/Propositions/Issues, conceptualizing research

problem.

UNIT 4: OVERVIEW OF SOCIAL SCIENCE METHODOLOGY 10 Hrs.

Uni-disciplinary, inter-disciplinary, multi-disciplinary methodologies - Quantitative Research Methods: An

Overview - Qualitative Research Methods: An Overview - Historical Method - Case Study Method - Action

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Research - Monitoring and Evaluation - Triangulation (including/mixing Qualitative and Quantitative)

Methods

UNIT 5: INFORMATION NEEDS AND USE IN SOCIAL SCIENCES 10 Hrs.

Secondary Sources of Information: Using and Integrating secondary and primary information - Quantitative

Data: Kinds and quality of Data, demography, labour force, agriculture, industry - Quantitative Data: Human

resources, education, health, housing, employment, banking, rural data bas - Quantitative Data: Survey

Reports, Research Studies, Historical Data Tools - Statistical Systems – International, National and Local:

Objectivity, Reliability and Validity of Data - Surveys and Questionnaires: Questionnaire, Schedule Design

and Construction, Sample Surveys, Survey Administration - Observation – Structured and unstructured,

Recording and Interpretation of Observations, Ethnography -Interviews: Nature of the Interview Process -

Structured and Unstructured Interviews, Focus Groups, Group Discussions

UNIT 6: ANALYSIS OF QUALITATIVE AND QUANTITATIVE DATA 10 Hrs.

Choice of Statistical and Processing Techniques - Interpretative Narrative Methods - Theory of the Testing of

Hypotheses - Presentation of Research Findings, Products of Research, Thesis Writing - Factors conducive to

research utilization

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REFERENCES

1. Bell, J. (1993) Doing your research project: a guide for first-time researchers in Education and Social

Science, Buckingham, UK: The Open University.

2. Borg, W.R., & Gall, M.D. (1983). Educational Research: An Introduction (Fourth ed.). New York:

Longman Inc.

3. Brinberg, D. and McGrath, J.E. (1985) Validity and the research process, Newbury Park, CA: Sage

Publications, Inc.

4. Erickson, F. (1986). Qualitative methods on research on teaching. in M.C. Wittrock (ed.), Handbook

of research on teaching (3rd ed., pp. 119 - 161). New York: MacMillan.

5. Fitz-Gibbon, C. T. and L. L. Morris (1987) How to Analyse Data, NewburyPark: Sage Publications,

Inc.

6. Foddy, W (1993) Constructing Questions for Interviews and Questionnaires: Theory and Practice in

Social Research, Cambridge: CambridgeUniversity Press.

7. Isaac, S., and Michael, W.B. (1981). Handbook in research and evaluation: A collection of principles,

methods, and strategies useful in the planning, design, and evaluation of studies in education and the

behavioral sciences (2nd Ed.). San Diego: EdITS.

8. Yin, R.K. (1994). Case Study Research (Second Edition, Vol. 5). Thousand Oaks, CA: Sage

Publications, Inc.

9. Andreski, S. Social Sciences as Sorcery. New York: St. Martin's Press, 1973.

10. Blalock, H. M. Social Statistics, Rev. 2nded. New York: McGraw-Hill, 1979.

11. Duncan, O. Introduction to Structural Equation Models.

12. Guilford, J. P. and B. Fruchter. Fundamental Statistics in Psychology and Education, 6thed. New York:

McGraw-Hill, 1978.

13. Keppel, G., W. H. Saufley, Jr., and Howard Tokunaga. Introduction to Design and Analysis: A Student's

Handbook, 2nded. New York: W. H. Freman, 1992.

14. Matlack, W. F. Statistics for Public Managers, 1993. Itasca, Il: F. E. Peacock, 1993.

15. Meier, Kenneth J. and J. L. Brudney. Applied Statistics for Public Administration, 3rd ed. Belmont, CA:

1993.

16. Phillips, J. L. Statistical Thinking: A Structural Approach, 2nd ed. San Francisco: W. Hl. Freeman,

1982.

17. Renner, Tari. Statistics Unraveled: A Practical Guide to Using Statistics in Decision-Making.

Washington, DC: InternationalCity Management Association, 1988.

18. Reynolds, H. T. Analysis of Nominal Data, 2nd ed. Beverly Hills, CA: Sage, 1984.

19. Welch, S. and J. Comer. Quantitative Methods for Public Administration: Techniques and Applications,

2nd ed. Chicago, Il: Dorsey Press, 1988.

20. White, Michael J., et al. Managing Public Systems: Analytic Techniques for Public Administration.

Lanham: University Press of America, 1985.

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MBE134 - STATISTICS FOR ECONOMICS



OBJECTIVES: The objective of the paper is to make students familiar with theory and application of

statistical methods. This course covers the statistical foundations of data analysis including the statistical

theory and its applications in Economics. In particular, this UNIT broadly covers the descriptive statistics,

theory of probability, statistical distributions, estimation and hypothesis testing, and non-parametric tests.

UNIT 1: PROBABILITY THEORY 10 Hrs.

Concept of probability, conditional probability and Bayes’ theorem, random variables – discrete and

continuous, density and distribution functions, joint, marginal and conditional distribution, moment generating

function, law of large numbers and Central Limit theorem.

UNIT 2: THEORY OF PROBABILITY DISTRIBUTION 10 Hrs.

Discrete versus continuous distribution, uniform, binomial, negative binomial, Poisson, geometric and hyper-

geometric, normal, log-normal, exponential, gamma and beta distribution, characteristic function and moment

generating function

UNIT 3: METHODS AND SAMPLING DISTRIBUTIONS 10 Hrs.

Simple random sampling: with and without replacement, stratified random sampling, probability and non-

probability sampling, statistic and sample moments, sampling distributions: Student’s-t, Chi square and F-

distribution, determinants of sample size.

UNIT 4: THEORY OF ESTIMATION 10 Hrs.

Point and interval estimation, properties of good estimators: unbiasedness, consistency, efficiency, different

methods of estimation, maximum likelihood and method of moment estimation, properties of maximum

likelihood and method of moment estimators, confidence interval for unknown parameters

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UNIT 5: HYPOTHESIS TESTING 10 Hrs.

Statistical hypothesis, simple versus composite hypothesis, critical region, types and size of error – type-I and

type-II error, power of a test, Neyman-Pearson lemma, trinity of classical tests (Wald test, Lagrange multiplier,

likelihood ratio), application of hypothesis testing with known and unknown variances, Chi-square test for

testing independence of two-classification criteria, test for correlation

UNIT 6: STATISTICAL PACKAGE FOR SOCIAL SCIENCES 10 Hrs.

Overview of SPSS for Windows Step by Step Process, Creating & Editing a Data File, Managing Data,

Correlation, Bivariate Regression, Factor Analysis, Cluster Analysis and Discriminate Analysis, Conjoint

Analysis, Reliability Analysis.

REFERENCES

1. Mood, A. M., R. A. Graybill and R.C. Boes, Introduction to the Theory of

2. Statistics, McGraw-Hill, 1974

3. Hogg, R. and A. Craig, Introduction to Mathematical Statistics, McGraw-Hill,1965

4. Miller, I. and M. Miller, Mathematical Statistics, sixth edition, Prentice Hall International, 1999

5. Goon Gupta and Das Gupta, Fundamentals of Statistics, fifth edition, The World Press, 1986

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ELECTIVES

MBE 135 - INTRODUCTION TO DATA MINING IN R



OBJECTIVES: Data mining techniques have their roots in two fields: machine learning and statistics. With

the former traditionally addressing the issue of acquiring knowledge or skill from supplied training

information and the latter the issue of describing the data as well as identifying and approximating

relationships occurring therein, they both have contributed modelling algorithms. Machine learning and

statistics for providing business insights has proved to be extremely useful. The use of data mining in the

course focuses on modelling oriented approach for representing business problems. This course is expected to

be a precursor for Predictive Analytics course which is offered in the fourth semester. The course is designed

in a manner to encompass analytic processes performed to produce predictive models from available data and

verify whether and to what extent they meet the application’s requirements. The course should help

participants to understand in detail the assumptions and requirements of three major datamining tasks namely

classification, regression and clustering.

UNIT 1: INTRODUCTION TO R 16 Hrs.

Installation of R- Getting Started with R interface- Entering Input-Evaluation- R objects- Numbers- Attributes-

Creating Vectors-Mixing Objects- Explicit Coercion- Matrices- Lists- Missing Values-Data Frames- Names-

Reading and Writing Data into R- Introduction to read.table()- Memory requirements for R objects- Storing

Binary and Textual Data -Subsetting R Objects- Vectorised Operations- Date and Time

UNIT 2: MANAGING DATA FRAMES WITH DPLYR PACKAGE 10 Hrs.

Data Frames- dplyr package- dplyr grammar- Installing dplyr- functions –select-filter-arrange-rename-mutate-

group by.

UNIT 3: CONTROL STRUCTURES, FUNCTIONS AND DEBUGGING 10 Hrs.

If-else- for loops-Nested for loops-while loops- repeat Loops-next break- Functions in R- lapply-sapply-split-

tapply-mapply-Debugging Tools in R-Using Traceback()- Using debug()-Using recover()

UNIT 4: INTRODUCTION TO PREDICTIVE MODELLING AND PROCESS OF PREDICTIVE

MODELLING 10 Hrs.

Understanding Data- Core Components of a Model – Types of Models- Supervised- Unsupervised- Semi

supervised and Reinforcement Learning Models – Parametric and Non Parametric Models- Regression and

Classification Models

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UNIT 5: PREDICTIONS USING LINEAR REGRESSION 14 Hrs.

Introduction to Linear Regression- Assumptions- Estimating a Simple Linear Regression- Multiple Linear

Regression (MLR)- Assessing Linear Models- Residual Analysis- Significance Tests- Performance Metrics

for Linear Regression- Problems with MLR- Multicollinearity- Outliers

ESSENTIAL READING

1. Forte, R. M. (2015). Mastering Predictive Analytics with R. Packt Publishing Ltd.

2. Peng, R. D (2016). R Programming for Data Science. http://leanpub.com/rprogramming

RECOMMENDED READING

1. Wu, J., & Coggeshall, S. (2012). Foundations of Predictive Analytics. Boca Raton: CRC Press, Taylor

& Francis Group LLC.

2. Albright C. S., Winston Wayne L. and Zappe C. J (2009). Decision Making Using Microsoft Excel

(India Edition). Cengage Learning.

3. Evans J. R (2013). Business Analytics Methods, Models and Decisions. Pearson, Upper Saddle River,

New Jersey.

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MBE 136 - FINANCIAL MANAGEMENT



OBJECTIVES: This course aims to make students familiar with the famous thinkers and their thoughts that

form the basis for current practices and policies; to demonstrate that knowledge is created by the successive

building of ideas on earlier ones, and to show how most of the theoretical concepts in economics and policy

today have their roots in ideas born centuries before.

UNIT 1: INTRODUCTION AND PRE-CLASSICAL THOUGHT 12 Hrs.

Introductory Indian and Chinese economic thought - Chanakya on tax administration, Chinese on civil

administration and agriculture.

Mercantilist thinking - factors responsible for the growth of mercantilist thought, major ideas.

Physiocracy - factors responsible for the growth of Physiocracy, major economic ideas, with special reference

to Quesnay (origin of the circular flow and microeconomic identity - economic table)

UNIT 2: CLASSICAL THOUGHTS 12 Hrs.

Classical thought - influence of Hutchinson on Smith’s thinking, Smith’s on value, rent, public finance,

institutionalism; Malthus on population and theory of gluts; Ricardo on rent, value, comparative advantage;

Mill - introduction through senior, fundamental doctrines, including static state; Frederick List - German

criticism of Classicism

UNIT 3: SOCIALIST THOUGHT 12 Hrs.

Marx (historical materialism, dialectics, surplus value, capitalist appropriation), post Marxists. Fabian

socialists - Robert Owen

UNIT 4: NEO-CLASSICAL THOUGHT 12 Hrs.

Marginalist school – Bohm Bawerk - origins of marginalism, Walras (general equilibrium), Marshall

(economic statics and notion equilibrium), Edgeworth (2x2 model).

UNIT 5: MODERN ECONOMIC THINKERS 12 Hrs.

Modern economic thinkers-Keynes - Monetary equation, General Theory, liquidity preference- Schumpeter -

creative destruction, business cycles- Rawls - justice, Sen - capability approach.

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REFERENCES

1. Clarke, J. B. The History of Economic Thought.

2. Haney, Lewis H. (1977). History of Economic Thought. New Delhi: Surjeet Publications.

3. Gide, Charles and Rist, Charles, (2007, Indian Reprint). A History of Economic Doctrines. New Delhi:

Surjeet Publications

4. Heilbroner, Robert L. (1999). The Worldly Philosophers - The Lives, Times, and Idea of the Great

Economic Thinkers. Simon and Shuster.

5. Roll, Eric. (1940). A History of Economic Thought. Feber and Feber.

6. Screpanti, Ernesto &Zamagni, Stefano. (2006). An Outline of the History of Economic Thought. First

Indian Edition, Oxford University Press.

7. Taylor, Overton, H. A. (1960). A History of Economic Thought. McGraw – Hill.

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SECOND SEMESTER

MBE231 - MICROECONOMIC THEORY AND APPLICATIONS II



OBJECTIVE: The main objective of the paper is to introduce both traditional as well as modern ideas and

theoretical concepts in micro economics. It also deals with fundamental understanding of market theory,

theory of factor pricing, theory of general equilibrium and welfare economics. It also includes understanding

the role of institutions by focusing on transaction costs, absolute property rights and relative property rights.

UNIT 1: GAME THEORY 10 Hrs.

Extensive and normal form representation of games– Nash equilibrium (inpure and mixed strategies);

definition and existence – subgame perfectionin dynamic games; Applications: strategic behaviour of firms in

a market–Bertrand, Cournot and Stackleberg models – and entry deterrence.

UNIT 2: DISTRIBUTION 10 Hrs.

Neo-classical approach: Marginal productivity theory - in perfect and imperfect product and factormarkets;

Product exhaustion theorem; Elasticity of technical substitution, technical progress and factorshares; Macro

theories of distribution – Ricardian, Marxian, Kalecki and Kaldor’s.

UNIT 3: GENERAL EQUILIBRIUM 10 Hrs.

Partial and general equilibrium; Walrasian excess demand and input-output approaches to general

Equilibrium; Existence, stability and uniqueness of partial equilibrium and general equilibrium;Relationship

between relative commodity and factor prices (Stopler-Samuelson theorem); Relationshipbetween output-mix

and real factor prices-effect of changes in factors supply in closed economy(Rybczynsky theorem).

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UNIT 4: WELFARE ECONOMICS 10 Hrs.

Pigovian welfare economics; Pareto optimal conditions; Value judgement; Social welfare

function;Compensation principle; Inability to obtain optimum welfare–Imperfections, market

failure,decreasing costs; Uncertainty and non–existent and incomplete markets;Theory of second best –

Arrow’s impossibility theorem, Rawl’s theory of Justice; Equity efficiency trade off.

UNIT 5: NEW INSTITUTIONAL ECONOMICS 20 Hrs.

Definition of Transaction Cost and types of transaction costs; General Principles in Modelling Transaction

Costs; Modelling Transaction Costs by modelling transaction activity. Emergence of Property Rights: The

invisible hand and the optimistic theory; contracting for Property Rights: the role of political bargaining and

the Liebcap Thesis. Principles of contractual obligations; economic theories of contract: agency theory, self-

enforcing agreement theory and relational contract theory; types of private ordering and their dynamics.

READINGS

1. Andreu Mas-Colell, M D Whinston and J R Green (1995), Microeconomic Theory, Oxford University

Press.

2. Henderson, J.M. and R.E. Quandt (2003), Microeconomic Theory: A Mathematical Approach,

McGraw Hill, New Delhi.

3. Kreps, David M. (1990), A Course in Microeconomic Theory, Princeton University Press, Princeton.

4. Krugman, Paul. and Wells, Robin. (2005), Microeconomics, Worth Publishers.

5. Koutsoyiannis, A. (1979), Modern Microeconomics, (2nd Edition), Macmillan Press, London.

6. Mukherjee, Anjan (2002), An Introduction to General Equilibrium Analysis, Oxford University Press.

7. Osborne, Martin J. (2009), An Introduction to Game Theory, Oxford University Press.

8. Sen, Anindya (2007), Microeconomics: Theory and Applications, Oxford University Press, New Delhi.

9. Varian, H. (2000), Microeconomic Analysis, W.W. Norton, New York.

10. Pindyck, Robert & Rubinfeld, Daniel (2013), Micro Economics, 8th Edition, Pearson Education, USA

11. Furburton & Richter, ‘Institutions and Economic Theory’, Dryden Press.

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MBE232 - MACROECONOMIC THEORY AND POLICY II



OBJECTIVES: This paper aims at strengthening the knowledge of important macroeconomic variables and

their role in determining the equilibrium level of output and employment and provides insights into factors

influencing the capital inflows and outflows in an open economy model. It helps the students to understand

the theoretical foundation of macroeconomics and the contribution of different schools of thought to the

further development of macroeconomics. The students will be able to critically evaluate the consequences of

basic macroeconomic policy options under differing economic conditions within a business cycle.

UNIT 1: INFLATION, UNEMPLOYMENT AND PRODUCTIVITY 15 Hrs.

Classical dichotomy and monetary neutrality- Classical, Neo-classical and modern theories of inflation-

Keynesian and monetarist views on inflation-Inflation in the static model-Wages, prices and productivity-The

relation of wages to unemployment- Short run and long run Phillips curve and the policy implications-

Modifications in Phillips curve- Natural rate of unemployment-Seigniorage and hyperinflation-disinflation.

UNIT 2: THEORIES OF MONEY DEMAND AND INTEREST RATES 15 Hrs.

The Classical and Neoclassical views on holding money- Real and monetary theories of the rate of interest:

liquidity preference and loanable funds theories of interest- The term structure of interest rates: Pure

Expectations, Pure segmentation and Substitutability theories- Portfolio theories of demand for money-

Baumol-Tobin approach to transaction demand for money- Tobin’s portfolio optimization approach-

Friedman’s quantity theory of money.

UNIT 3: BUSINESS CYCLES, POST KEYNESIAN MACROECONOMICS 15 Hrs

Measurement, Endogenous theories (Hicks, Goodwin, Kaldor), Exogenous theories - Real Business Cycle

Theories - Real Business Cycle School and inter temporal substitution of labour- Real Business Cycle theory-

technology shocks- neutrality of money and flexibility of wages and prices- Real Business cycle view on great

depression- The modern monetarism, major postulates-Keynesian policy framework- The New Classical

macroeconomics- Stagflation trend-The Supply-Side economics- major implications.

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UNIT 4: EXTERNAL SECTOR AND EMERGING ISSUES 15 Hrs.

Rationale and impact of reforms since 1991 on BOP, Problems of India’s international debt export policies,

working and regulations of MNCs in India- The issues and policies towards financial stability- International

reserves, Monetary integration- European Monetary System-Contemporary macroeconomic debates in India

and the world.

ESSENTIAL READINGS

1. William. H. Branson (2005). Macroeconomic Theory and Policy, Third Edition, All India Traveller

Book Seller Publishers, New Delhi.

2. D.N. Dwivedi. (2005). Macroeconomics: Theory and Policy. 2nd Edition, Tata McGraw Hill Education.

3. Levacic and Rebman. (1982). Macro Economics: An Introduction to Keynesian and Neo-Classical

Controversies. 2nd Edition, Macmillan Publishers.

REFERENCES

1. Burda and Wyplosz (2009). Macroeconomics: A European Text, Fifth Edition, Oxford University Press,

New York.

2. Graeme Chamberline& Linda Yueh (2006). Thomson Learning.

3. N. Gregory Mankiw. (2012). Macroeconomics. 8th Edition, Worth Publishers.

4. Dornbusch, Fischer, Startz. (2010). Macroeconomics. 11th Edition, Tata McGraw Hill.

5. M. Maria John Kennedy (2011). Macroeconomic Theory, PHI Learning Private Limited, New Delhi.

6. H. L. Ahuja. (2012). Macroeconomics: Theory and Policy. 18th Revised Edition, Sultan Chand

Publishers.

7. Brain Snowdown, Howard Vane and Peter Wynarczyk. (1995). A Modern Guide to Macro

Economics: An Introduction to Competing School of Thought, Edward Elgar Publishing.

8. Edward Shapiro. (2011). Macroeconomic Analysis. 5th Edition, Galgotia Publication Ltd.

9. Ackley. G. (1978). Macroeconomics: Theory and Policy, Macmillan, New York.

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MBE233 - ADVANCED MATHEMATICAL ECONOMICS



OBJECTIVES: The main objectives of the paper are to train the students to grasp the use of mathematical

techniques and operations to analyse economic problems and to initiate students into various economic

concepts which are amenable to mathematical treatment.

LEARNING OUTCOME

1. Exhibiting a sound understanding of mathematical techniques discussed.

2. Formulating economic problems in mathematical terms.

3. Applying the relevant tools for analyzing economic problems.

UNIT 1: INTRODUCTION TO MATHEMATICAL ECONOMICS -EQUILIBRIUM (OR STATIC)

ANALYSIS 12 Hrs.

Equilibrium analysis in Economics-Definition of equilibrium-Solution of equilibrium- Single vs. multiple

equilibrium-Partial vs. general equilibrium.

Application: single vs. multiple commodity markets

Linear Models and Matrix Algebra -Matrix algebra -Determinants-Inverse-Eigenvalues and Eigen vectors -

Cramer’s rule-Quadratic Forms

Applications: Multiple commodity markets- Heckscher-Ohlin model, IS-LM Model- Mundell-Fleming Model

UNIT 2: INTEGRATION 6 Hrs.

Areas under curve-Definite and indefinite Integration, Application- Consumer Surplus and Producer Surplus

UNIT 3: UNCONSTRAINED OPTIMIZATION 15 Hrs.

Concavity, Convexity, Quasi concavity, Quasi convexity

Optimization of functions of one variable -Main concepts- First order conditions-Second order conditions

(sufficient conditions)

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Applications: Profit maximization (one product) under: - perfect competition - monopoly. – Monopolistic –

Oligopoly (Collusive and Non Collusive Oligopoly Models - Cournot model, stackelberg model)

Optimization of functions of more than one variable- The differential version of optimization conditions-

Extreme values of function of two variables and comparative static aspect of optimization

Application: Profit maximization (two products) under perfect competition- extreme values of function of n

variables. Applications: i)Monopolist selling in segmented markets

UNIT 4: CONSTRAINED OPTIMIZATION PROBLEMS 15 Hrs.

Two variables, one constraint-Lagrange-multiplier method-First order conditions-Second order conditions,

Hessian Border Condition.

Applications: Utility maximization and consumer demand (two goods, one period)-Utility

maximization and consumer demand (one goods, two periods)- perfect access to international capital markets.-

financial autarky -welfare implications

UNIT 5: DIFFERENCE AND DIFFERENTIAL EQUATIONS AND ECONOMIC APPLICATIONS

12 Hrs.

First order linear difference equations- Second order difference equations, First order differential equations-

Second order differential equations, Application: Cobweb Market Model, Dynamic stability of Market price

REFERENCES

1. Simon, C. and L. Blume, Mathematics for Economists, Norton, London, 1994.

2. Edward Dowling (2000), Introduction to Mathematical Economics, McGraw Hill Ltd,NewDelhi.

3. Chiang, Wainwright, Kevin (2005), Fundamental Methods of Economics, McGraw Hill Ltd, NewDelhi.

4. Allen R G D(1974).Mathematical Analysis for Economists, McMillan Press and ELBS, London.

5. Allen R G D (1967). Macroeconomic Theory, McMillan Co., Ltd.,.

6. Chiang A C (1986). Fundamental Methods of Mathematical Economics, McGraw Hill,New York.

7. Koutsoyiannis A. (1979). Modern microeconomics, 2nded, ELBS with McMillan.

8. Monga G S. (1996) Mathematics and Statistics for Economics, Vikas Publishing House Pvt. Ltd., Delhi.

9. Yamane, Taro (1975) Mathematics for Economists, Prentice Hall of India, New Delhi.

10. Mehta-Madnani (2005) Mathematics for Economists, Sultan Chand and Sons, New Delhi.

11. Eugene Diulio, Macroeconomics, Schaum‘s Outlines, McGraw Hill.

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MBE234 - ECONOMETRIC METHODS



OBJECTIVES: The course is designed to impart the learning of principles of econometric methods and tools.

This is expected to improve student’s ability to understand of econometrics in the study of economics. This

course is intends to provide a thorough and sound understanding of the essential theoretical base, an

introduction into the important and useful techniques of modeling and also an understanding of the broad

applications of econometrics.

UNIT 1: REGRESSION ANALYSIS 10 Hrs.

Linear regression model, two variables and multi variables, BLUE property, general and confidence approach

to hypothesis testing, partial effects and elasticity, goodness of fit, model evaluation, matrix approach to linear

regression models

UNIT 2: EXTENSION OF LINEAR REGRESSION MODELS 10 Hrs.

Consequences and detection of multicollinearity, heteroskedasticity, and autocorrelation; and remedial

measures

Lab work (4 hrs)

UNIT 3: DUMMY VARIABLES 10 Hrs.

Regression on qualitative and quantitative variables, dummy variable trap, structural stability of regression

models, Chow test, piecewise linear regression model

Lab work (4 hrs)

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UNIT 4: SIMULTANEOUS EQUATION MODELS 10 Hrs.

Simultaneity bias, structural versus reduced form, identification: rank versus order condition, exact and over

identifications, triangular model, methods of estimation including indirect least squares, two-stage least

squares and three-stage least squares, LIML and FIML

UNIT 5: DISTRIBUTED LAG MODELS 20 Hrs.

Formation of expectations, naïve expectation versus adaptive expectations models, partial adjustment models,

distributed lag models; Koyck’s model, Almon lag, polynomial distributed lag models, end point restriction,

rational expectations models

Lab work (7 Hrs)

REFERENCES

1. Wooldridge, J., Introductory Econometrics: A Modern Approach, South-Western

2. Ramanathan, R., Introductory Econometrics with applications, fifth edition, Thomson Asia Private

Limited, 2002

3. Gujarati, N.D., Basic Econometrics, fourth edition, McGraw Hill, 2003

4. Johnston, J., Econometric Methods, third edition, McGraw Hill

5. Brooks, C., Introductory Econometrics for Finance, first edition, Cambridge University Press, 2003

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ELECTIVES

MBE235 - FINANCIAL STATEMENT ANALYSIS



COURSE DESCRIPTION: Accounting is at the heart of the information age. By studying this course, the

student will learn about the concepts, rules and procedures, and analysis that are useful in everyday activity

connected to finance. This course discusses the basic concepts of accounting, details the preparation of

income statement and balance sheet and financial statement analysis.

It helps in developing the analytical ability of the student by using various Managerial accounting methods

and techniques. In addition, the student gets to learn about the various cost control aspects that would be

required for a manager, in terms of designing, Using and planning control systems to achieve firm’s objectives.

UNIT 1: FINANCIAL ACCOUNTING 10 Hrs.

Accounting Concepts and Conventions – Recording of Business Transactions – Double Entry System –

Journal – Ledger – Trail Balance – Preparation of Final accounts - Final Accounts of Companies– Banking

Company accounts – Capital and Reserves- Preparation of Final Accounts of Banking Companies- Non

Performing assets – Asset Classification and Provisioning.

UNIT 2: FINANCIAL STATEMENT ANALYSIS 12 Hrs.

Spotting the problem of financial statements – The need for three financial statements to analyze the

performance of an enterprise – The interconnection between profit and loss, balance sheet and cash flow

statements – understanding the quality of earnings through financial statements – Tools of Financial Statement

Analysis -Comparative and Common Size Statement - Trend analysis - Ratio analysis - Funds Flow and Cash

Flow Statements

UNIT 3: COST CONCEPTS AND CLASSIFICATIONS 2 Hrs.

Cost, Cost centers, Cost Unit, Method of costing, Techniques of costing, Classification of cost- fixed and

variable, cost concepts for decision making

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UNIT 4: COSTING & CONTROL OF INVENTORY, LABOUR & OVERHEADS 10 Hrs.

Control of Materials, Inventory systems, Inventory Control Techniques – ABC analysis, EOQ, Re-order point,

Safety Stock, Cost of inventory and costing methods – LIFO, FIFO, HIFO, Average cost, JIT Inventory.

Costing and Control of Labour – Accounting for Labour – Incentive plans – Differential piece rate and

premium bonus plans – Measurement of labour turnover – efficiency rating procedures

Costing and control of overheads – allocation and absorption of overheads

UNIT 5: JOB, BATCH AND PROCESS COSTING METHODS 6 Hrs.

Job costing, Batch costing, Process Costing, WIP (Equivalent Production), Normal & abnormal losses,

Internal process profits, Joints & by-product costing.

UNIT 6: MARGINAL COTING & COST VOLUME PROFIT ANALYSIS 8 Hrs.

Common cost behavior patterns – cost estimation method – Breakeven analysis– contribution margin and what

if analysis – multi product analysis – Assumptions in CVP analysis – Variable costing and Full costing –

benefits of variable costing for internal reporting purpose. Incremental analysis – make or buy decisions –

dropping a product line – qualitative considerations in decision making including ethical dimensions.

UNIT 7: COST ALLOCATION AND ACTIVITY BASED COSTING 4 Hrs.

Process of cost allocation – traditional product costing systems – problems with cost allocation – activity based

costing – Activity based management as a tool to improve efficiency (Self Learning area).

UNIT 8: BUDGETARY PLANNING AND STANDARD COSTING 8 Hrs.

Uses of budgets in planning and control (Self Learning area) – developing the budget – The master budget –

budgeted balance sheet – static and flexible budgets – standard costs and budgets – development of standard

costs – variance analysis – material variance.

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MBE 236 - DATA VISUALISATION FOR BUSINESS DECISIONS



OBJECTIVES: Data is changing everything. As a result, there is an emergence of a new field – Data Science

– that focuses on the processes and systems that enable the extraction of knowledge or insights from data in

various forms, either structured or unstructured. Visual analysis of data, both structured and unstructured, has

emerged as one of the key components of interdisciplinary Data Science study. The course aims at providing

handson expertise to participants on data management and visualisation using Microsoft Excel and Tableu.

The course is designed to approach study of data science in a structured manner, understand the relevance of

data and the usage of tools for data analysis and visual communication of actionable insights to solve business

problems.

UNIT 1: INTRODUCTION TO DATA SCIENCE AND BUSINESS ANALYTICS 4 Hrs.

Data Science overview - Data science components: data visualization, modelling, data prep, communication

and presentation. Business Analytics Fundamentals: descriptive, predictive and prescriptive analytics

UNIT 2: VISUAL ANALYSIS BEST PRACTICES 2 Hrs.

Techniques for making Data Visualization useful and beautiful

UNIT 3: ANALYSIS AND VISUALIZATION IN MICROSOFT EXCEL – ANALYSIS USING PIVOT

TABLES 12 Hrs.

Data preparation – cleaning source data using basic functions, Creating pivot tables, formatting data in pivot

tables, Sorting, Filtering and Grouping data in Pivot tables, Calculated fields in Pivot tables

Working with multiple pivot tables, Pivot table manipulation using Slicers and Timelines.

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UNIT 4: ANALYSIS AND VISUALIZATION IN MICROSOFT EXCEL – VISUALIZATION USING

PIVOT CHARTS 12 Hrs.

Column Chart, Combo Chart, Scatter Plot chart, Heatmap, Stacked area chart & animating chart over time,

Building an interactive dashboard in excel using a combination of techniques learnt

UNIT 5: TABLEAU FUNDAMENTALS, NAVIGATING THE TOOL AND CREATING A

VISUALIZATION 6 Hrs.

Tableau Fundaments – Connecting to data sets, Data section and Worksheets, Marks, Filters, Graphs and

Charts. Analysis and Visualization - connecting to a data set, creating visualization, creating calculated field

and publishing to Tableau Public.

UNIT 6: TABLEAU DATA AGGREGATION, FILTERS AND ANIMATION 6 Hrs.

Working with Time Series, Understanding Aggregation and Granularity, Area Charts, Highlighting and

Filters, Animation.

UNIT 7: TABLEAU INTERACTIVE DASHBOARD 8 Hrs.

Working with Maps and Hierarchies, Data Join, Scatter Plot and Dashboard, Interactive Action Filter, Dual

Axis Charts.

UNIT 8: TABLEAU DATA PREPARATION FOR ANALYSIS 4 Hrs.

Data format for analysis, Data Interpreter, use case reviews and practices

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THIRD SEMESTER

MBE331 - HISTORY OF ECONOMIC THOUGHT



OBJECTIVES: This course aims to make students familiar with the famous thinkers and their thoughts that

form the basis for current practices and policies; to demonstrate that knowledge is created by the successive

building of ideas on earlier ones, and to show how most of the theoretical concepts in economics and policy

today have their roots in ideas born centuries before.

UNIT 1: INTRODUCTION AND PRE-CLASSICAL THOUGHT 12 Hrs.

Introductory Indian and Chinese economic thought - Chanakya on tax administration, Chinese on civil

administration and agriculture.

Mercantilist thinking - factors responsible for the growth of mercantilist thought, major ideas.

Physiocracy - factors responsible for the growth of Physiocracy, major economic ideas, with special reference

to Quesnay (origin of the circular flow and microeconomic identity - economic table)

UNIT 2: CLASSICAL THOUGHTS 12 Hrs.

Classical thought - influence of Hutchinson on Smith’s thinking, Smith’s on value, rent, public finance,

institutionalism; Malthus on population and theory of gluts; Ricardo on rent, value, comparative advantage;

Mill - introduction through senior, fundamental doctrines, including static state; Frederick List - German

criticism of Classicism

UNIT 3: SOCIALIST THOUGHT 12 Hrs.

Marx (historical materialism, dialectics, surplus value, capitalist appropriation), post Marxists. Fabian

socialists - Robert Owen

UNIT 4: NEO-CLASSICAL THOUGHT 12 Hrs.

Marginalist school – Bohm Bawerk - origins of marginalism, Walras (general equilibrium), Marshall

(economic statics and notion equilibrium), Edgeworth (2x2 model).

UNIT 5: MODERN ECONOMIC THINKERS 12 Hrs.

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Modern economic thinkers-Keynes - Monetary equation, General Theory, liquidity preference- Schumpeter -

creative destruction, business cycles- Rawls - justice, Sen - capability approach.

REFERENCES

1. Clarke, J. B. The History of Economic Thought.

2. Haney, Lewis H. (1977). History of Economic Thought. New Delhi: Surjeet Publications.

3. Gide, Charles and Rist, Charles, (2007, Indian Reprint). A History of Economic Doctrines. New Delhi:

Surjeet Publications

4. Heilbroner, Robert L. (1999). The Worldly Philosophers - The Lives, Times, and Idea of the Great

Economic Thinkers. Simon and Shuster.

5. Roll, Eric. (1940). A History of Economic Thought. Feber and Feber.

6. Screpanti, Ernesto &Zamagni, Stefano. (2006). An Outline of the History of Economic Thought. First

Indian Edition, Oxford University Press.

7. Taylor, Overton, H. A. (1960). A History of Economic Thought. McGraw – Hill.

REFERENCES

1. North, Douglas C. (2004). Institutional Change and Economic Performance. Cambridge University

Press.

2. Eggertson, Thrainn. (1999). Economic Behaviour and Institutions. Cambridge University Press.

3. Olson Mancur. (1965). The Logic of Collective Action. Cambridge: Harvard University Press.

4. Shaw, M E. (1971). Group Dynamics: The Psychology of Small Group Behaviour. New York: McGraw

Hill.

5. Frank, Robert H. (1991). Micro Economics and Behaviour. McGraw Hill International Editions.

6. Pindyck, Robert S., Rubinfeld, Daniell L., & Mehta, Prem L. (2009). Microeconomics. (7th Ed.).

Pearson.

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MBE332 - ECONOMICS OF GROWTH AND DEVELOPMENT



OBJECTIVES: The course covers important theories on economic growth which include both old and new

growth theories. The course is intended to impart a practical orientation to understanding the development

issues in developing countries based on theoretical foundations; the course helps to create the skills in

identifying issues of underdevelopment and generate practical solutions to removing them.

UNIT 1: THEORIES OF GROWTH AND DEVELOPMENT 15 Hrs.

Economic Growth Theories: Neoclassical economic theory: Slow-Swan growth model; Ramsey growth

model; Empirics of neoclassical theory: Conditional and unconditional convergence; Endogenous growth

theory: AK model; Romer model with knowledge spillovers and increasing returns to scale; Uzawa-Lucas

model with human capital Endogenous growth theory.

Contemporary Theories of Economic Development: Dualistic development and structuralism – Lewis model;

The balanced-growth Nurske model; Hirschman’s unbalanced growth model with backward and forward

linkages.

New frontiers in Theories of Economic Development: The imperfect information paradigm (Stiglitz); the new

institutional economic paradigm (Williamson); the international dependence models.

UNIT 2: POVERTY, INEQUALITY AND WELL-BEING 10 Hrs.

Concepts of poverty – absolute and relative, temporary and chronic, measurement of poverty; new thinking

on poverty; poverty traps - the theory and evidence; concept of inequality, inequality and income growth –

inverted U hypothesis; concepts of welfare and well-being –Sen’s Capability approach

UNIT 3: FINANCIAL FLOWS TO DEVELOPING COUNTRIES 10 Hrs.

The determinants of private capital flows (FDI, bank lending, bonds and equity); and the institutional and

policy issues arising from their impact on macroeconomic stability and growth; the positive economics of aid

(from whom, to whom and with what effects) and the normative economics of aid (how to allocate and deliver

aid better); the relationships between these two sorts of financial flows

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UNIT 4: RURAL DEVELOPMENT 10Hrs.

Land (tenancy, shareholding, and property rights); Labour (labour markets, shadow wages, wage

determination); Migration (equilibrium models, causes and consequences, risks), Harris and Todaro model;

Credit market – features of rural credit market, alternative credit policies; micro-finance (credit rationing,

household credit, lending to the poor)

UNIT 5: INDUSTRIAL POLICY AND TECHNOLOGICAL UPGRADING 10 Hrs.

Industrialization, economic growth and the industrial policy debate; The experience of the East Asian NICs:

lessons and debates; Transfer of technology and role of multinational companies; Industrialisation and catch-

up in the emerging economies: the BRICS and beyond; Opportunities and constraints for industrial policy in

the 21st century: internal and external dimensions

UNIT 6: EDUCATION AND DEVELOPMENT THROUGH COMMUNITY PARTICIPATION

5 Hrs.

The concept of service/experiential Learning; A study of the causes, consequences and risk associated with

migration for the rural illiterates; A study of the household finances of the rural Bangalore – lending to the

rural poor, rural indebtedness, role of micro-finance.

(2 to 3 days rural stay where the students will understand the dimensions of rural poverty, study the

developmental projects underway in the area, propose strategies to strengthen the ongoing programmes of

development or suggest remedies for the problems)

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REFERENCES

1. Michael Todaro, Economic Development, Addison-Wesley, Reading, New York & London, Seventh

Edition (2000)

2. Debraj Ray, Development Economics, Oxford University Press, New Delhi (1999)

3. Jones, C. I., Introduction to Economic Growth (Second Edition). W.W.Norton

& Company, New York, (2001)

4. Romer, P. M. (1990): “Endogenous Technological Change,” Journal of

Political Economy, 98(5), 71–102

5. Aghion, P. and S. Durlauf, eds. (2005) Handbook of Economic Growth, Vol. 1A. North Holland [AD,

HD75.5 .H35 2005, available at Science Direct].

6. Banerjee, A., R. Benabou, and D. Mookherjee (2006) Understanding Poverty. Oxford University

Press. [BBM, HC79.P6 U534 2006]

7. Barro, R. and X. Sala-i-Martin (2004) Economic Growth. Second edition. MIT Press. BSM]

8. Rodrik, D. editor (2003) In Search of Prosperity: Analytic Narratives on Economic Growth. Princeton

University Press. [HD73 .I52 2003]

9. D. Mookherjee and D. Ray (2001) Readings in the Theory of Economic Development. Blackwell

Readings for Contemporary Economics, Blackwell Publishers [HD75 .R423 2001].

10. Hent Diana- Economic theories of Development- An analysis of competing paradigm

11. J. Behrman and T. N. Srinivasan (Eds)- Handbookof Development Economics Elsevier 1995

12. BardhanPranab and Christopher Udry- Development Micro Economics. Oxford University press.

2000. New York

13. Nafziger- Economics of Developing countries. Prentice Hall 1997

14. Gerald Mayer, Leading Issues in Economic Development, Oxford University Press, Oxford (1995).

15. David Colman, Frederick Nixson, Economics of Change in Less Developed Countries, Harvester

Wheatsheaf, London, Third Edition (1994).

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MBE333 - BEHAVIOURAL ECONOMICS



OBJECTIVES: The course aims to explain the principles and methods of behavioral economics while

contrasting them with standard economic models. The course will provide an understanding of the policy

implications of behavioral approaches through case studies.

UNIT 1: INTRODUCTION TO BEHAVIORAL ECONOMICS 10 Hrs.

Nature of Behavioral economics -Methodological approach: Theory and evidence -Origins of behavioral

economics- Neo-classical and behavioral approaches to studying economics- Relationship with other

disciplines- Application: Case studies on Loss aversion, Money Illusion, Altruism.

UNIT 2: FOUNDATIONS OF BEHAVIORAL ECONOMICS 20 Hrs.

Values, Preferences and Choices: The standard model- Axioms, assumptions and definitions-

Decision making under risk and uncertainty: Prospect theory- Reference points- Loss Aversion- Shape of

utility function- Decision weighting- Application: Case studies on Endowment Effect and Loss Aversion.

Mental accounting: Nature and components of mental accounting- Framing and editing- Budgeting and

fungibility- Choice bracketing and dynamics-Policy implications

UNIT 3: INTERTEMPORAL CHOICE 15 Hrs.

The Discounted Utility Model: Origin and features of Discounted Utility Model (DUM)- Methodology-

Anomalies in DUM; Alternative Intertemporal Choice Models: Time preference- Time inconsistent

preferences- Hyperbolic discounting.

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UNIT 4: BEHAVIORAL GAME THEORY 15 Hrs.

Nature of behavioral game theory- Mixed strategies- Bargaining- Iterated games- Signaling- Learning-

Application: Case studies on Market entry in Monopoly and Impasses in bargaining and self-serving bias.

ESSENTIAL READING

1. Nick Wilkinson and Matthias Hales, An Introduction to Behavioral Economics, 2nd Edition, Palgrave

Macmillan 2012.

REFERENCES

1. Edward Cartwright, Behavioral Economics, Routledge 2011

2. Erik Angner, A Course in Behavioral Economics, Palgrave Macmillan 2012.

3. Dan Ariely, “Predictably Irrational: The Hidden Forces that Shape Our Decisions”, Harper Collins

2009,

4. Richard Thaler and Carl Sunstein, “Nudge: Improving Decisions about Health, Wealth and

Happiness”, Penguin UK 2009.

5. Kahneman, Daniel and Amos Tversky. Choices, Values and Frames, New York: Russell, Sage

Foundation; Cambridge, U.K.; New York: Cambridge University Press, 2000.

6. Camerer, Colin, Loewenstein, George, and Rabin, Matthew (eds.), Advances in Behavioral Economics,

Russell Sage Foundation and Princeton University Press, 2003.

7. Colin Camerer, Behavioral game theory: experiments in strategic interaction, Princeton University

Press, 2003.

8. Diamond, P. and H. Vartianen, Behavioral Economics and Its Applications, Princeton University

Press, 2007.

9. David Laibson, The Psychology of Savings and Investment; A series of three talks at the London

School of Economics and Political Science, Nov 19–21, 2007.

10. David Laibson, "Golden Eggs and Hyperbolic Discounting" (1997), Quarterly Journal of Economics.

11. Raj Chetty, Consumption Commitments and Habit Formation, NBER Working Paper 10970, 2014.

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MBE334 - APPLIED ECONOMETRICS



OBJECTIVES: This course covers time series and panel data econometrics with focus on applications in the

field of macroeconomics and international finance. The course covers univariate and multivariate models of

stationary and nonstationary time series in the time domain. The objective of the course to develop a

comprehensive set of tools and techniques for analyzing various forms of univariate and multivariate time

series, and for understanding the current literature in applied time series econometrics.

LEARNING OUTCOME:

1. The students can apply advanced econometric techniques for analyzing current research topics in

applied economics and finance research.

2. To assist students in getting comfortable with applied time series models and panel data models

through EVIEWS and STATA statistical packages to manage and analyze data.

3. To provide students with thorough and sound understanding of the essential theoretical base of

econometric modeling and broad applications of time-series and panel data econometrics

UNIT 1: STATIONARITY UNIVARIATE MODELS (6HR THEORY+6HR PRACTICAL)

12 Hrs.

Stochastic processes- Properties of stochastic process. Time series as a discrete stochastic process–

Stationarity- Characteristics of stochastic component of time series (mean, autocovariation and autocorrelation

functions). Lag operator- Unit root tests - Deterministic and stochastic trend models-Augmented Dickey Fuller

test– Phillips-Perron test-Estimation and testing.

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UNIT 2: NON-STATIONARY MULTIVARIATE MODELS (6HR THEORY+6HR PRACTICAL)

12 Hrs.

Spurious regression- Cointegration- Granger representation theorem -Vector error correction models

(VECMs)- Structural VAR models with cointegration - Testing for cointegration – Engle and Granger (1987)

and Johansen and Juselius (1990) - Estimating the cointegrating rank- Estimating cointegrating vectors-

Granger causality test

UNIT 3: NON-STATIONARY TIME SERIES AND VOLATILITY (5 HR THEORY +5HR

PRACTICAL) 10 Hrs.

Vector Auto Regressive (VAR) models-Impulse Response Function (IRF)-Variance Decomposition Analysis

- Structural Vector Auto Regressive (SVAR) models– Estimation and Diagnostic Checking

UNIT 4: CONDITIONAL VARIANCE MODELS (6HR THEORY+6HR PRACTICAL) 12 Hrs.

Volatility Clustering- Leverage Effects- Modeling Volatility- AutoRegressive Conditional Heteroscedasticity

(ARCH) Model- Generalised AutoRegressive Conditional Heteroscedasticity (GARCH) Model – Extensions

to GARCH-Exponential GARCH and Threshold GARCH models.

UNIT 3: LIMITED DEPENDENT VARIABLE MODELS (5 HR THEORY +5HR PRACTICAL)

10 Hrs.

Introduction to binary variables, limitation of LPM, logistic curve, Probit and Logit models, predicted

probabilities, censored versus truncation, TOBIT model, ordinal models, multinomial models, and nested

models.

UNIT 5: PANEL DATA MODELS (7 HR THEORY +7HR PRACTICAL) 14 Hrs.

Introduction to Panel Data - Types of panels- Balanced and Unbalanced Panel Data-Benefits and drawbacks

of longitudinal data. Basic models-Pooled OLS-Fixed effects-Random effects Model-Estimation and testing-

Fixed vs Random Effects Model -Hausman specification test.

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REFERENCES

1. Kerry Patterson, An Introduction to Applied Econometrics: A Time Series Approach. Palgrave

Macmillan, 2000.

2. Walter Enders, Applied Econometric Time Series. New York: John Wiley & Sons, Inc., 1995.

3. Chris Brooks, Introductory Econometrics to Finance - Cambridge University Press, 2002

4. B. H. Baltagi, Econometric Analysis of Panel Data, 4th ed., John Wiley, New York, 2008.

5. J.D. Hamilton, Time Series Analysis, Princeton, NJ: Princeton University Press, 1994.

6. W. Greene, Econometric Analysis, Macmillan, 1993.

7. R.A. Johnson, and D.W. Wichern, Applied Multivariate Statistical Analysis, Prentice Hall, 1988

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MBE335 - INTERNSHIP

The students MA Applied are expected to complete an internship with an Academic (Research)

institute/NGO/firm during the summer vacation before joining the programme in the third Semester. This

internship provides the students an opportunity to be a part of these productive enterprises in order to

understand the organizational structure and to participate in the work that is being carried out. The students

are expected to expand their theoretical understanding to the practical scenario of production, marketing,

distribution and consumption. The students are supposed to identify the productive enterprise of their choice

and finalize the same in consultation with the Department. The Department will help the students if they need

any assistance in identifying the organisations. The students are encouraged to intern with an organisations as

per their area of interest/specialisation. This internship is evaluated out of 50 marks. Successful completion

of the internship will earn the students 2 credits per semester. The students will be evaluated out of 50 marks

on a continuous basis, the criteria of which are given below. The students are expected to put in a minimum

of 25 days of work with a minimum spread of 4 weeks commencing from April and completing by the end of

May.

EVALUATION CRITERIA

Organisation’s Profile-10 marks

Weekly Reports-10 marks

Final Report- 20 marks

Presentation and viva voce- 20 marks

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ELECTIVES

MBE336 - SECURITY ANALYSIS & PORTFOLIO MANAGEMENT



OBJECTIVES: This course is provided as an elective subject to the students of MA (Applied Economics)

course and is intended to provide deeper insights into the function of markets, its valuation techniques, the

concepts of portfolio management with the techniques of risk diversification. This would help the students to

further their interests in the area of Financial Economics which has emerged as an area for both Academic

Research and also for corporate career prospects.

UNIT 1: BASICS OF RISK AND RETURN INCLUDING ITS MEASURES 7 Hrs.

Measures of Return and Risk: Computing mean historical returns, calculating expected rates of return,

measuring the risk of expected rates of return and the risk measures for historical returns; Determinants of

required rates of return: Risk free rate, risk premium, fundamental risk Vs. systemic risk; Relationship

between Risk and Return: Security Market Line (SML), movements along SML and changes in the slope of

SML.

UNIT 2: EFFICIENT CAPITAL MARKETS 4 Hrs.

Efficient Market Hypothesis: Weak form, Semi strong form and Strong form, its tests and results; Efficient

Markets and Technical analysis; Efficient Markets and Fundamental analysis; Efficient Markets and Portfolio

Management.

UNIT 3: FUNDAMENTAL ANALYSIS 9 Hrs.

Economic factors - monetary variables – interest rates- inflation- exchange rate- fiscal measures- GDP- other

economic factors.Industry Analysis:Why industry analysis, the business cycle and industry analysis -

evaluating the industry life cycle.Company Analysis: Company analysis versus the valuation of stock,

Competition- growth of sales- earnings – dividend policy – restructuring policy – capital gearing- mergers and

acquisition- earning surprise; SWOT analysis - Tenets of Warren Buffet; Analysis of Growth

companies.Market Related Factors:January effect- noise trading- trends; Economics, Industry and Structural

links to Company analysis, Firm’s competitive positioning.

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UNIT 4: TECHNICAL ANALYSIS 5 Hrs.

Underlying assumptions of technical analysis, advantages, challenges; Technical trading rules and indicators.

UNIT 5: SECURITY VALUATION 5 Hrs.

Theory of valuation: stream of expected cash flows, required rate of return, investment decision process-

comparison of estimated values and market prices; Valuation of alternative investments: valuation of bonds,

approaches to valuation of equity; Present value of operating free cash flows, Present value of free cash flows

to equity; Relative valuation techniques: Earnings Multiplier model, Price/Cash flow ratio, Price/Book value,

Price/Sales ratio.

UNIT 6: PORTFOLIO MANAGEMENT 8 Hrs.

Markowitz Portfolio Theory: alternative measures of risk, expected rates of return, variance of returns for

individual investment and for a portfolio, Standard deviation of a portfolio, a three asset portfolio, efficient

frontier; Capital Market Theory: background and assumptions for Capital Market Theory, Risk free asset; The

Market Portfolio, CAPM, SML, relaxing assumptions for CMT; Arbitrage Pricing Theory: empirical test for

APT, Multifactor Models.

UNIT 7: EQUITY PORTFOLIO MANAGEMENT STRATEGIES EVALUATION OF PORTFOLIO

PERFORMANCE 4 Hrs.

Passive Vs. Active Management; Index portfolio construction techniques, tracking error, methods of index

portfolio investing; Active equity portfolio management strategies: fundamental strategies and technical

strategies,anomalies and attributes; Treynor portfolio performance measure; Sharpe portfolio performance

measure; Jensen portfolio performance measure; The information ratio performance measure; application of

portfolio performance measures.

UNIT 8: ASSET MANAGEMENT 3 Hrs.

Organization and Management of Asset Management Companies; Characteristics of Hedge Funds, its

strategies and performance.

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ESSENTIAL READINGS

1. Donald E. Fischer and Ronald J. Jordan,Security Analysis and Portfolio Management, Prentice Hall

India, latest edition.

2. Prasanna Chandra, Investment Analysis and Portfolio ManagementTata McGraw Hill, latest edition.

3. Frank K. Reilly and Keith C. Brown, Investment Analysis and Portfolio Management, Cengage

Learning, latest edition.

4. Alex Kane, Alan J Marcus, PitabasMohanty and ZviBodie, Investments, Tata McGraw Hill, latest

edition.

5. William Sharpe, Gordon Alexander and Jeffery Bailey, Investments, Prentice Hall of India, 6th edition,

2003.

REFERENCES

1. David G. Luenberger, Investment Science, Oxford University Press, USA, 1997.

2. Hull, John C., Options, Futures and Other Derivatives, Pearson Education, 6th edition, 2005.

3. Thomas E. Copeland, J. Fred Weston and KuldeepShastri, Financial Theory and Corporate Policy,

Prentice Hall, 4th edition, 2003.

4. Richard A. Brealey and Stewart C. Myers, Principles of Corporate Finance, McGraw-Hill, 7th edition,

2002.

5. Stephen A. Ross, Randolph W. Westerfield and Bradford D. Jordan, Fundamentals of Corporate

Finance. McGraw-Hill, 7th edition, 2005.

6. Burton G. Malkiel, A Random Walk Down Wall Street, W.W. Norton & Company, 2003.

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MBE337 - ECONOMICS OF BANKING AND INSURANCE



OBJECTIVES: This paper is designed to prepare the students with training in theoretical and practical

aspects of Banking and Insurance Science. It also equip them to work in life and non-life insurance companies

(designing insurance products and valuing financial contracts and investing funds); consultancy (offering

advice to occupational pension funds and employee benefit plans); government service (supervising insurance

companies and advising on the national insurance); and also in the stock exchange, industry, commerce and

academia. This paper also develops the caliber of the students to understand the banking procedure with its

command on money inflow in the market.

UNIT 1: RISK, UNCERTAINTY AND ASYMMETRIC INFORMATION IN BANKING AND

INSURANCE MARKETS 8 Hrs.

Contingent Consumption; Utility Functions and Probabilities; Expected Utility Theory in Insurance Market;

Risk pooling; risk spreading; risk transfer; Quality Choice – Choosing the Quality; Moral Hazard and Adverse

Selection in Banking and Insurance Theories; Signaling - The Sheepskin Effect; Incentives; Asymmetric

Information - Monitoring Costs Example: The Grameen Bank; Systems Competition; The Problem of

Complements; Relationships among Complementors; Markets with Network Externalities;

UNIT 2: BANKING THEORIES AND INSTITUTIONS 13 Hrs.

Monetary Policy of RBI – Bank Nationalisation and Credit Planning; Monetary Targeting; Multiple Indicator

Approach and Liquidity Adjustment Facilities (LAFs); Theoretical Basis of Banking Operations; Liabilities

of Banks – deposits, non-deposit resources, other liabilities; Banking Assets – Investments, Bank Credit;

Concept of Lending and Portfolio Choice and Aspects; Banking Innovations; Risk Management in Banking;

Non-Bank Financial Intermediaries (NBFIs) and Statutory Financial Organisation – Small Savings, Provident

Funds and Pension Funds; NBFIs and Miscellaneous Financial Organisation – Loan Companies, Investment

Companies, Hire-Purchase Finance; Lease Finance; Housing Finance;

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UNIT 3: LIFE INSURANCE 8 Hrs.

Types of life insurance Contracts: Term and Cash Insurance; The Level Premium Concept; Life Insurance

Products; Types of Term Insurance; Whole Life Insurance; Variation of Whole Life Insurance; Indeterminate

Premium Whole Life Insurance; General Classifications of Life Insurance; Computation of Life Insurance

Premium; Benefits-Certain and Benefits-Uncertain contracts;

UNIT 4: HEALTH INSURANCE 8 Hrs.

Individual Health and Disability Income Insurance; Types of Individual Health Insurance Coverage: Hospital

(Surgical Insurance, Major Medical Insurance); Disability Income Insurance; Need for Disability Income

Insurance: Short Term Versus Long Term Disability Coverage; Health Insurance for the Elderly; Long Term

Care Insurance; Employee Benefits: Group, Life and Health Insurance; Group Insurance: Group Life

Insurance Plans, Group Health Insurance Plans, Group Disability - Income Insurance;

UNIT 5: INSURANCE COMPANY OPERATIONS 8 Hrs.

Insurance Company Operations: Rate Making, Underwriting, Production, Claim Settlement, Reinsurance;

Life Insurance Industry in India; Government Insurance UNITs; Private Players; Emerging Scenario;

Marketing Systems; Distribution Channels: Agents and Brokers; Changes in Distribution System;

Government regulation of Insurance; Rationale of Regulation; Function of IRDA, IITDA Regulations; Issues

in Insurance Regulation

REFERENCES

1. Ackley, G. (1978), Macroeconomics: Theory and Policy, Macmillan, New York.

2. Besley, T., J. Hall, and I. Preston. 1998. “Private and Public Health Insurance in the United

Kingdom.” European Economic Review 42 (35): 491–97.

3. 1999. “The Demand for Private Health Insurance: Do Waiting Lists Matter?” Journal of Public

Economics 72 (2): 155–81.

4. Bodenheimer, T. 1992. “Private Insurance Reform in the 1990s: Can It Solve the Health Care Crisis?”

International Journal of Health Services 22 (2): 197–215.

5. Carmichael, J., and M. Pomerleano. 2002. The Development and Regulation of Non-Bank Financial

Institutions. Washington, DC: World Bank.

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6. Chakravarty, S.C. (1985), Report of the Committee to Review the Working of the Monetary System,

Reserve Bank of India, Bombay.

7. Colclough, C. 1997. Marketizing Education and Health in Developing Countries: Miracle or Mirage?

Oxford and New York: Clarendon.

8. Cutler, D. M., and J. Gruber. 1995. Does Public Insurance Crowd Out Private Insurance? Cambridge,

MA: National Bureau of Economic Research.

9. 1997. “Medicaid and Private Insurance: Evidence and Implications.” Health Affairs (Millwood) 16

(1): 194–200.

10. Ensor, T. 1995. “Introducing Health Insurance in Vietnam.” Health Policy and Planning 10 (2): 154–

63.

11. 1999. “Developing Health Insurance in Transitional Asia.” Social Science and Medicine 48 (7): 871–

79.

12. Folland, S., M. Stano, and A. C. Goodman. 2004. The Economics of Health and Health Care. Upper

Saddle River, NJ: Pearson/Prentice Hall.

13. Glied, S. A. 2001. “Health Insurance and Market Failure since Arrow.” Journal of Health Politics,

Policy and Law 26 (5): 957–65

14. Grant, K., and R. Grant. 2003. “Health Insurance and the Poor in Low-Income Countries.” World

Hospitals and Health Services 39 (1): 19–22.

15. Hal R. Varian, Intermediate Microeconomics, 5/e, W W Norton and Company.

16. ILO Sub-regional office for South Asia, New Delhi, Extension of Social Protection in India Information

Papers Series, “Yeshasvini Cooperative Farmers Health Scheme: A Typical Example.” February 2007

17. Keynes, J.M. (1936), The General Theory of Employment, Interest and Money, Macmillan, London.

18. L.M. Bhole, Financial Institutions and Markets, 3/e, Tata McGraw Hill.

19. Laidler, D.E.W. (1977), Demand for Money: Theory and Evidence, Dum Don Valley, New York.

20. Manning, W. G., and M. S. Marquis. 1996. “Health Insurance: The Trade-Off between Risk Pooling

and Moral Hazard.” Journal of Health Economics 15 (5): 609–39.

21. McKnight, R. 2002. Essays on the Economics of Health Insurance. Cambridge, MA: Massachusetts

Institute of Technology.

22. Nyman, J. A. 2003. The Theory of Demand for Health Insurance. Stanford: Stanford University Press.

23. Outreville, J. F. 1991. “Use of Computer Technology in the Insurance Sector of Developing

Countries.” Discussion Paper 38, United Nations Conference on Trade and Development, Geneva.

24. 1994. “Life Insurance in Developing Countries: A Cross-Country Analysis.” Discussion Paper 93,

United Nations Conference on Trade and Development, Geneva.

25. 1996. “Reinsurance in Developing Countries: Market Structure and Comparative Advantage.”

Discussion Paper 121, United Nations Conference on Trade and Development, Geneva.

26. 1998. Theory and Practice of Insurance. Dordrecht and Boston: Kluwer Academic Publishers.

27. P.S. Palande, R.S Shah, and M. L. Lunawat, (2003), Insurance in India: Changing Policies and

Emerging Opportunities, Sage Publications.

28. Reddy, Y.V. (2000), A Review of Monetary and Financial Sector Reforms in India – A Central Banker’s

Perspective, UBSPD, New Delhi

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FOURTH SEMESTER

MBE431 - ECONOMICS OF LABOUR MARKETS



OBJECTIVES: Analyze the various factors influencing the demand and supply of labour in an economy in

wage and employment determination; to understand the implications of economic and political institutions in

influencing wages and employment; to understand the present state of industrial relations and social security

in the country.

UNIT 1: INTRODUCTION TO LABOUR ECONOMICS 10 Hrs.

Labour as a unique factor of production; Labour Market outcomes- Changing level and composition of labour

supply and labour demand, structure of earnings, labor management relations and collective bargaining, level

and composition of unemployment; Labour market process- market forces, institutional forces and

sociological forces; Evolution of labour market theory- the Neoclassical school and the Institutional school.

UNIT 2: LABOUR MARKET ANALYSIS 15 Hrs.

Supply of labour: The Theory of Labour Leisure Choice; Hours of work and Non labour income; Substitution

and Income effects of Wage change; Labour force participation rates- Changes in male and female work

participation rates; Household Model of Labor Supply- Life Cycle Allocation of Time, Bargaining Model of

Family Labour Supply; Effects of Social Programs and Income transfers on Labour Supply.

Demand for Labour: The Marginal Productivity Theory of Labour Demand; The Elasticity of demand for

labour - Hicks-Marshall rules of derived demand for labour; Consumer expenditure patterns and labour

demand; Labour demand over business cycles; Labour demand in the long run- Equilibrium level of

employment with isocosts and isoquants; Technological change and labour demand.

P a g e | 46

UNIT 3: WAGE DETERMINATION 15 Hrs.

Wage determination in competitive markets; Wage determination in monopsony market; Minimum wages-

Effect on wage and employment determination in competitive and monopsony markets; Segmentation and

Dual Labour Market Theory; Wage differentials- Education, Training and Earnings Differential- The Theory

of Human Capital, Costs and benefits of college education and On-the-Job training- Occupational Wage

differentials; Theory of Compensating Wage Differentials; Earnings differentials by Gender- Wage and wage

share in post-reform India.

UNIT 4: EMPLOYMENT 10 Hrs.

Measurement of unemployment; Conceptual issues- Causes of unemployment; Job search theories- Stigler

Model, McCall Model- Rigid wages- Efficiency Wages, Labour force participation rates in India,

Unemployment trends in India- Sectoral employment trends in India: Rural-Urban, Organised- Unorganised,

Public-Private.

UNIT 5: TRADE UNIONS AND COLLECTIVE BARGAINING 10 Hrs.

Demand for union services- Costs and benefits of union membership- Supply curve of union membership-

Equilibrium level of union membership- Union-management bargaining process: A model of bargaining

process- Outcomes of bargaining process- Methods of dispute resolution- Dimension of union wage effect -

Measuring the union-nonunion wage differential- Union impact on nonwage outcomes.

P a g e | 47

REFERENCES

1. Kaufman and Hotchkiss, Labour Market Economics, Cengage Learning, 2003.

2. Cahuc, Pierre, and Zilberberg, Labour Economics, Cambridge, Mass. and London: MIT Press, 2004.

3. McConnell, Capbell R., and Stanley. L. Brue, Contemporary Labour Economics, McGraw-Hill Book

Co., 2009.

4. Ashenfelter, Orley, and Richard Layard. (1990), The Handbook of Labor Economics. Vol. 1 and 2.

New York: North-Holland.

5. Helfgott, Labour Economics, (New York: Random House 1974)

6. Reynolds, Lloyd. Labour Economics and LabourWelfare (1978), New Delhi: Prentice Hall of Inida

Pvt. Ltd.

7. Sepsfore, David and Zafiris Tzannatos. (1990), Current Issues in Labour Economics

8. Hong Kong , Macmilan

9. Singh, V.B and Saran, A.K. (1990), Industrial Labour in India Mumbai: Asia Publishing House

10. Verma, Pramod. Labour Economics and Industrial Relations New Delhi: TataMcGraw Hill Pvt. Ltd.

11. Datt, G. (1966), Bargaining Power, Wages and Employment: An Analysisof Agricultural, Labour:

Marketsin India; Sage Publishers, New Delhi.

12. Hajela, P.D. (1998) ,Labour Restructuring in India : A Critique of the New Economic Policies ,

Commonwealth Publishers, New Delhi.

13. Jhabvala, R.and R.K. Subrahmanya (Eds.) (2000), The Unorganised Sector :Work Security and Social

Protection ; Sage Publications, New Delhi

14. Lester, R.A. (1964) , Economics of Labour (2nd Edition), Macmillan, New York.

15. Papola, T.S., P.P. Ghosh and A.N. Sharma (Eds.) (1993), Labour, Employment and Industrial

Relations in India, B.R. Publishing Corporation, New Delhi.

16. T.N. Srinivasan (Eds.) The Handbook of Development Economics, North-Holland, New York.

17. Venkata Ratnam, C.S. (2001) , Globalization and Labour – Management Relations : Dynamics of

Changes , Sage Publications/Response Books , New Delhi

18. Punekar, Deodhar and Sankaran, Labour Welfare, Trade Unionism and Industrial Relations (1974),

Himalaya Publishing House, New Delhi

19. Tyagi B.P., Labour Economics and Social Welfare (2011), Jai Prakash Nath and Co.

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MBE432 - PUBLIC FINANCE AND POLICY



OBJECTIVES: This paper delivers a balanced presentation of public policy that equips readers with a solid

understanding of economic theory and how it affects policy issues. It thoroughly illustrates the role

government plays in the economy and explains how and why the public sector makes decision on tax issues

as well as includes topics as cost benefit analysis and other issues that involve govt. spending decision.

UNIT 1: ROLE OF GOVERNMENT 10 Hrs.

Role of govt. in organised society; Changing perspective — government in a mixed economy: public and

private sector, cooperation or competition; Government as an agent for economic planning and development;

Government as a tool for operational zing the planning process; private goods, public goods, and merit goods;

Market failure — imperfections, decreasing costs, externalities, public goods; Uncertainty and non-existence

of futures markets; Informational asymmetry- Case study on externalities

UNIT 2: PUBLIC CHOICE AND PUBLIC POLICY 10 Hrs.

Allocation of resources; Private and public mechanism for allocating resources- Problems of preference

revelation and aggregation – Voting systems; Arrow’s Impossibility theorem- Political Equilibrium-

Voluntary exchange model and Samuelson’s impossibility of decentralised provision of public goods ; Tiebout

model

UNIT 3: PUBLIC EXPENDITURE 10 Hrs.

Theories of public expenditure; Wagner’s law of increasing state activities; Peacock Wiseman hypotheses-

Social Cost benefit analysis-Criteria for public investment-Project valuation, Estimation of costs, discount

rate; -Economic reforms and control of public expenditure in India- Case studies on project evaluation

P a g e | 49

UNIT 4: TAXATION 10 Hrs.

Taxes-types; Canons-VAT and GST- Approaches to Equity principle in taxation: Benefit principle; Ability to

Pay Principle - Impact and Incidence of taxation; Modern theory of Incidence- Theory of optimal taxation-

Major trends in tax revenue of the central and state governments in India- Tax Reforms in India – case study

on taxation

UNIT 5: PUBLIC DEBT AND BUDGET 10 Hrs.

Classical and Keynesian approaches to public debt; Analytical concepts of public debt; Modern theory of

public debt; Sources of public debt; Methods of debt redemption; Principles of debt management and

repayment-Growth of India’s Public debt-Zero based budgeting-Programme budgeting.

UNIT 6: FISCAL FEDERALISM 10Hrs.

Principles of federal finance - Assignment of Functions & Devolution of Resources and Grants; Vertical and

Horizontal Imbalance- Methods of Inter-governmental resource transfer-Finance Commission-

Recommendations Finance Commission –Centre state financial relations in India.

ESSENTIAL READINGS

1. Musgrave and Musgrave: Public Finance in Theory and Practice (Fifth Edition).

2. Dr. Tyagi B.P., Public Finance, Jai Prakash Nath Pub. Meerat, (UP)

3. H.L. Bhatia. Public Finance (Fifteenth Revised Edition).

4. Amaresh Bagchi (ed.). Readings in Public Finance. Oxford University Press

5. R. K. Lekhi, Public Finance.

REFERENCES

1. Atkinson, A.B. and J.E. Stiglitz , Lectures on Public Economics, Tata McGraw Hill, New York.

2. Buchanan J.M., The public Finances, Richard D.Irwin, Homewood.

3. Jha.R (1998), Modern Public Economics, Routledge, London.

4. Srivastave.D.K., Fiscal Federalism in India, HarAnanad Publication Ltd., New Delhi

5. Auerbach, A.J. and M. Feldstern (Eds.) Handbook of Public Economics, Vol. I, North Holland,

Amsterdam.

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MBE433 - ENVIRONMENTAL AND RESOURCE ECONOMICS



OBJECTIVES: This course applies theoretical and empirical economic tools to a number of environmental

issues. The broad concepts and principles that will be discussed include material balance, sustainable

development, externalities, public goods, property rights, market failure. Special emphasis is devoted to public

policy instruments at internalizing the externalities. The theories pertaining to the economics of natural

resources, both exhaustible and renewable, are given a thorough treatment. The course will also cover all the

standard methodologies for environmental valuation.

UNIT 1: BASIC CONCEPTS 5 Hrs.

An introduction to Environmental Economics; Economy-Environment interaction; Environmental versus

ecological economics; The Material Balance principle, Entropy law

UNIT 2: ENVIRONMENT VS DEVELOPMENT 5 Hrs.

Sustainable Development; Rules for sustainable development; Ecosystem services and human well-being;

Relation between development and environmental stress; Environmental Kuznet's curve

UNIT 3: ECONOMICS OF EXHAUSTIBLE RESOURCES 10 Hrs.

Hotelling's rule; Solow-Harwick's Rule; Market structure and optimal extraction policy; Uncertainty and the

rate of resource extraction

UNIT 4: ECONOMICS OF RENEWABLE RESOURCES 10 Hrs.

Economic models of forestry and fisheries; Extinction of species; Economics of Biodiversity

P a g e | 51

UNIT 5: THE THEORY OF EXTERNALITY AND PUBLIC GOODS 10 Hrs.

Market Failure and externality; Design and implementation of environmental policies; Pigouvian Solution;

Coase's theorem and its critique; Pigouvian vs. Coasian solution; Property rights; Collective action

UNIT 6: TECHNIQUES OF VALUATION 20 Hrs.

Market and non-market valuation; Physical linkage methods; Abatement cost methods; Behavior linkage

methods; Revealed and stated preference Methods – Hedonic pricing, Travel cost method, contingent

valuation, choice experiment

REFERENCES

1. Rabindra, N. Bhattacharya, “Environmental Economics” (Ed), Oxford University Press, New Delhi.

2001

2. Hanley, N, J.F. Shogren and B. White. Environmental Economics in Theory and Practice.New York:

MacMillan, 1997

3. Bromely, D. W. (Ed.). Handbook of Environmental Economics. Blackwell, 1995

4. Kolstad, Charles, Environmental Economics, OUP, 2000

5. Sankar, U. (Ed.). Environmental Economics (Readers in Economics), OUP, 2000

6. Coase, R. H. "The Problem of Social Cost", in Breit, W. and Hochman, H.M. (eds.) Readings in

microeconomics. Rinehart and Winston Inc., 1968.

7. Dasgupta, P and Heal, G. M. Economic Theory and Exhaustible Resources. Cambridge:

CambridgeUniversity Press, 1979.

8. Field, B. C. Environmental economics: an introduction. New York: McGraw Hill, 1994.

9. Fisher, A. C. "Environment and resource economics", in Oates, W.E. (ed.) New horizons in

environmental economics: selected readings. Cheltenham, U.K.: Edward Elgar, 1995.

10. Hardin, G. "The tragedy of commons", in Markandya, A. and Richardson, J. (eds.) Earthscan reader

in environmental economics. London: Earthscan Publications, 1993.

11. Oates, W. E. Economics of the environment. Cheltenham, U.K.: Edward Elgar, 1992.

12. Perrings, Charles. "Ecological resilience in the sustainability of economic development", in Sylvie, F.,

Pearce, D., and Proops, J. (eds.) new horizons in environmental economics: model of sustainable

development. Cheltenham, U.K.: Edward Elgar, 1996.

13. World Bank. Development and the environment. World Development Report series. Washington, D.

C.: World Bank, 1992.

14. Millennium Ecosystem Assessment Report, Ecosystem Services and Human Well-being: Synthesis.

Island Press, Washington DC, 2005.

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MBE434- INTERNATIONAL ECONOMICS-THEORY AND POLICY



OBJECTIVES: The course is intended to inculcate in students an analytical understanding of structure and

patterns of trade grounded on theoretical ideas; to explore the potential to expand trade and to suggest

possibilities; accustom to the challenges that emerging countries face in the globalized scenario.

PART I INTERNATIONAL TRADE

UNIT 1: CORE TRADE MODELS 5 Hrs.

Ricardian and Neoclassical models of trade

UNIT 2: HECKSCHER-OHLIN THEORY AND EMPIRICS 5 Hrs.

Heckscher-Ohlin and Related Models of trade and Empirical Tests

UNIT 3: TRADE AND WAGES 10 Hrs.

Theoretical Perspectives and Empirical Studies; Increasing Returns, National Conflict, and the Gravity Model

UNIT 4: TRADE POLICIES UNDER ALTERNATIVE ASSUMPTIONS 5 Hrs.

Perfect Competition, Imperfect Competition, and Market Failures

UNIT 5: TRADE AND GROWTH 6 Hrs.

Theoretical Perspectives; International Factor Mobility and Multinational Corporations

P a g e | 53

PART II OPEN MACROECONOMICS

UNIT 6: BALANCE OF PAYMENT AND EXCHANGE RATE 12 Hrs.

The Balance of Payments and National Account; Determinants of Exchange Rates: Purchasing Power Parity;

Sluggish Price and Overshooting Exchange Rate Model; Effect of Interventions in the Foreign Exchange

Market

UNIT 7: EXCHANGE RATE REGIMES, POLICIES AND FINANCIAL CRISIS 12 Hrs.

The Exchange-Rate Regime Choice and a Common Currency Area: Policy Assignment Problems;

International Policy Coordination; Choice of Exchange Rate Regimes; International Debt and Currency Crises

UNIT 8: INTERNATIONAL FINANCIAL ORGANISATIONS 5 Hrs.

The Role of the IMF and Other International Financial Organizations

REFERENCES

1. Robert C. Feenstra, Advanced International Trade: Theory and Evidence, Princeton University Press,

2004, ISBN 0-691-11410-2

2. Edward Leamer, editor, International Economics, Worth Publishers, 2001, ISBN 1-57259-820-4.

3. James R. Markusen, James R. Melvin, William H. Kaempfer, and Keith E. Maskus (MMKM),

4. International Trade: Theory and Evidence, McGraw-Hill, 1995, ISBN 0-07-040447-X.

5. Krugman P., Obstfeld M. (KO) International Economics: Theory and Policy. Ed. 3-5.

6. Sodersten B., Reed G. (SR) International Economics, 3rd ed. Macmillan, 1994.

7. Appleyard D., Field A. (A) International Economics.

8. Vanags A. (UL) International Economics. University of London, Subject Guide, 2001.

9. Ethier W. (E) Modern International economics, 3rd edition. W.W. Norton & Co., 1997.

10. Winters, A. (W) International Economics, 4th edition.

11. Handbook of International Economics (HIE), Vol. 3, Elsevier Science B.V., Amsterdam 1997.

12. Jagdish N. Bhagwati, ed. International Trade: Selected Readings, 2nd edition (Cambridge, MA: MIT

P a g e | 54

Press, 1987).

13. Jagdish N. Bhagwati, Arvind Panagariya, & T. N. Srinivasan, Lectures on International Trade, second

edition (Cambridge, MA: MIT Press, 1998).

14. William R. Cline, Trade and Income Distribution (Washington, DC: Institute for International

Economics, 1997).

15. Stephen D. Cohen, Robert A. Blecker, & Peter D. Whitney, Fundamentals of U.S. Foreign Trade Policy:

Economics, Politics, Laws, and Issues, 2nd edition. (Boulder: Westview, 2003).

16. Susan M. Collins, ed., Imports, Exports, and the American Worker (Washington, DC: Brookings

Institution, 1998).

17. Giovanni Dosi, Keith Pavitt, & Luc Soete, The Economics of Technical Change and International

Trade (New York: NYU Press, 1990).

18. Ronald Findlay, Factor Proportions, Trade, and Growth (Cambridge, MA: MIT Press, 1995).

19. Dominique Foray & Christopher Freeman, eds., Technology and the Wealth of Nations: The Dynamics

of Constructed Advantage (London: Pinter, 1993).

20. Ralph E. Gomory& William J. Baumol, Global Trade and Conflicting National Interests(Cambridge,

MA: MIT Press, 2000).

21. Gene M. Grossman, ed., Imperfect Competition and International Trade (Cambridge, MA: MIT Press,

1992).

22. Gene M. Grossman & Elhanan Helpman, Innovation and Growth in the Global Economy(Cambridge,

MA: MIT Press, 1991).

23. Gene M. Grossman & Kenneth Rogoff, eds., Handbook of International Economics, vol. 3,

(Amsterdam: North-Holland, 1995).

24. Ronald W. Jones & Peter B. Kenen, eds., Handbook of International Economics, vol. 1,

25. International Trade (Amsterdam: North-Holland, 1984).

26. Paul R. Krugman, Rethinking International Trade (Cambridge, MA: MIT Press, 1990).

27. Paul R. Krugman, Geography and Trade (Cambridge, MA: MIT Press, 1991).

28. Andrea Maneschi, Comparative Advantage in International Trade: A Historical Perspective (Edward

Elgar, 1998)

29. DaniRodrik, Has Globalization Gone Too Far? (Washington, DC: Institute for International

Economics, 1997).

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MBE435 - DISSERTATION



DESCRIPTION: This paper is a compulsory paper in the fourth semester of post graduate course in Applied

Economics. Through this paper students undertake an original research work based on the area of his/her

interest and academic leaning in the previous semesters. This also becomes a thorough training in the nuances

of analytical and research skills.

OBJECTIVES: To inculcate in students the rigour of research work; To imbibe in students the spirit of

inquiry; To encourage students to do academic reading of journal articles; To be informed about new

developments in the field of economics research.

METHODOLOGY: The dissertation work is carried out under the guidance of a faculty with scheduled

meetings for discussion of the progress of the work and timely interim presentations before a panel of faculty

to assess the quality of the work. The final submission of the dissertation is followed by a viva voce on the

topic of the research.

1. Evaluation at the end of the semester is based on the following categories:

2. Regularity of meeting with guide for discussions 20% weightage

3. Presentation of the synopsis by student 15% weightage

4. Mid-term review by student 15% weightage

5. Final submission of the dissertation and viva voce 50%

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ELECTIVES

MBE436 - PREDICTIVE ANALYTICS



OBJECTIVES: Predictive analytical tools are increasingly used in business decision making. The course will

introduce the participants to business problems where models that involve prediction, classification, clustering

and association can be applied. The course is designed as a hands on exercises using data available in the

public domain. The course requires that the participants are familiar with basic working in R and have

sufficient understanding of basic statistics. At the end of the course participants will be able to classify

predictive models and distinguish which models are suitable for a particular problem. The course will also

emphasize on performance and accuracy problems of predictive models as and when they arise and be able to

fix them.

UNIT 1: INTRODUCTION TO PREDICTIVE MODELLING AND PROCESS OF PREDICTIVE

MODELLING 8 Hrs.

I.A Introduction to Predictive Modelling

Understanding Data- Core Components of a Model – Types of Models- Supervised- Unsupervised- Semi

supervised and Reinforcement Learning Models – Parametric and Non Parametric Models- Regression and

Classification Models

I.B Process of Predictive Modelling

Defining the Model’s Objective- Collecting Data- Picking a Model- Preprocessing Data- Exploratory Data

Analysis- Data Transformations-Missing Data- Outliers- Training and Assessing the Model- Exploring

Alternate models – Model Deployment

UNIT 2: PREDICTIVE MODELS- REGRESSION 16 Hrs.

II.A Linear Regression

Introduction to Linear Regression- Assumptions- Estimating a Simple Linear Regression- Multiple Linear

Regression (MLR)- Assessing Linear Models- Residual Analysis- Significance Tests- Performance Metrics

for Linear Regression- Problems with MLR- Multicollinearity- Outliers

II. B Logistic Regression

Classifying with Linear Models-Introduction to Logistic Regression-Generalized Linear Models-

Assumptions-Interpretation of Coefficients- Maximum Likelihood Estimation- Assessing Logistic Regression

Models- Model Deviance – Test Performance- Introduction to Multinomial Logistic Regression

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UNIT 3: TIME SERIES ANALYSIS 12 Hrs.

Fundamental Concepts of Time Series- White Noise- Fitting White Noise Time Series- Random Walk- Fitting

Random Walk- Stationarity- Stationary Time Series Models- Moving Average Models- Autoregressive

Models- Autoregressive Moving Average Models- Non Stationary Time Series Models- Autoregressive

Integrated Moving Average Models- Autoregressive Conditional Heteroscedasticity Models- Generalized

Autoregressive heteroscedasticity Models.

UNIT 4: CLASSIFICATION AND CLUSTERING METHODS 16 Hrs.

I. Classification

Introduction to classification techniques-Nearest Neighbor Method- K- Nearest Neighbor algorithm-

Discriminant Analysis-Fisher’s Linear Discriminant Function- Decision Trees

II. Clustering

Introduction to Clustering- k-Means Clustering-Expectation Maximization Algorithm- Hierarchical

Clustering Procedures

UNIT 5: ASSOCIATION TECHNIQUES 4 Hrs.

Introduction to Association techniques-Quick Review of Probability- Bayesian Probability Methods-Market

Basket Analysis- Association Rules and Lift

ESSENTIAL READING

1. Forte, R. M. (2015). Mastering Predictive Analytics with R. Packt Publishing Ltd.

RECOMMENDED READING

1. Wu, J., & Coggeshall, S. (2012). Foundations of Predictive Analytics. Boca Raton: CRC Press, Taylor

& Francis Group LLC.

2. Albright C. S., Winston Wayne L. and Zappe C. J (2009). Decision Making Using Microsoft Excel

(India Edition). Cengage Learning.

3. Evans J. R (2013). Business Analytics Methods, Models and Decisions. Pearson, Upper Saddle River,

New Jersey.

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MBE437 - EXCEL MODELING FOR FINANCE



COURSE DESCRIPTION: Excel for Finance is specially designed to impart practical skills in the area of

Finance that are in line with industry best practices. The course enables a student to apply advanced Excel

skills such as Lookups, Data Validation, Sensitivity and Scenario Analysis to financial datasets. This course

also focuses on aggregation and analysis of data using statistical functions, mathematical functions, tables,

logical functions, conditional formatting and effectively presenting the data in the form of dashboards using

charting and graphing techniques. Student pursuing this course will be able to handle large datasets and

effectively analyze and present them in an elegant manner by the end of this course.

COURSE OBJECTIVE

1. Learn basic and intermediate Excel functions and functionalities

2. Learn how to perform advanced searches, lookups, filters and aggregations on financial datasets

3. Understand and learn how to perform scenario and sensitivity analysis in Finance

4. Learn how to aggregate and validate datasets

5. Learn how to build basic applications and dashboards in Excel for Finance

6. Learn how to perform Statistics for Finance in Excel

7. Understand how to use conditional formatting, charting and data validation for financial data sets and

dashboarding

8. Learn how to create financial reports

UNIT 1: BASICS OF EXCEL 2 Hrs.

Introduction to Rows, Columns and Cells, Insertion and deletion of rows and columns, Create, Edit, Copy,

Move and Link worksheets, Absolute and Relative cell references, Data validation, Sorting & Filtering

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UNIT 2: FORMATTING SHEETS 2 Hrs.

Formatting of data, Formatting (Text, Number, Cell styles – Alignment), Borders and fill patterns, Adjusting

column width and row height, Copying format (Paste & Paste special), Conditional Formatting (Highlight

cells, Top/Bottom)

UNIT 3: WORKING WITH CHARTS 2 Hrs.

Creating and formatting charts, Primary & Secondary data points, Building picture charts, Understanding

various types of charts

UNIT 4: INTRODUCTION TO FUNCTIONS 4 Hrs.

Commands and Functions with reference to data manipulation, Logical functions – IF (), SUMIF (), COUNTIF

(), AVERAGEIF (), Mathematical functions – SUM(), SUMPRODUCT(), COUNT(), SQRT(), POWER(),

AVERAGE(), MAX(), MIN(), MEDIAN(), MODE(), STDEV()

Financial functions – PV (), FV (), PMT (), NPV (), IRR ()

UNIT 5: USING LOOKUP & REFERENCE FUNCTIONS, DATA ANALYSIS 2 Hrs.

CHOOSE(), LOOKUP(),VLOOKUP(), HLOOKUP(), MATCH(), Nested Ifs, What-if analysis-Goal Seek

UNIT 6: WORKING WITH REPORTS 2 Hrs.

Creating pivot tables, formatting and customizing pivot tables, swapping rows and columns, grouping fields,

Drill down, Calculations & Reporting, pivot charts

UNIT 7: ADVANCED EXCEL FUNCTIONS ON FINANCIAL DATASETS 6 Hrs.

Data cleaning – Financial Time series - Good financial modeling practices, organizing the historical –

(financial statements), building financial ratios for trend analysis & forecasting, Forecasting the P& L, Balance

sheet forecasting and validating, Forecasting cash flow statement, Sales projections & merging of graphs -

Conditional Sum products and dashboarding - Useful functions - string / statistical / date-time / financial -

Error Handling Functions - Formula Auditing

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UNIT 8: USING EXCEL FOR ADVANCED FUNCTIONALITIES IN FINANCE 4 Hrs.

Solver & Optimization Techniques - Scenario Analysis - Sensitivity Analysis - Goal Seek

Examples from various finance and banking domains on applications of above principles

UNIT 9: DATA VALIDATION TECHNIQUES 4 Hrs.

Using data validation rules to create financial models - Using multi level data validation and linkages in a

financial model - How to effectively use data validation techniques

UNIT 10: IMPORTANT EXCEL TO-KNOWS FOR FINANCIAL MODELING 4 Hrs.

Conditional Formatting - Charting & Graphing Techniques - In-cell charting - Sparklines, Inline Charts, etc -

Security Features - Other Advanced Excel Functionalities

UNIT 11: BASICS OF MACROS 10 Hrs.

Creating Modules - Writing Subroutines - Running a macro code - Option Explicit - Defining and using

Variables - Usefulness of MsgBox and InputBox - Workbook and Worksheet – Objects - Range and Cells

Objects - Using Arrays - Working with Chart Objects - Inserting Comments - Using above concepts to build

simple financial applications

Control Structures for building financial applications: For Loops, For Each Loops, Do – Until Loops, Do –

While Loops, If – then constructs and its variants, Select Case Constructs - Building financial applications

using above concepts

Debugging Techniques: Creating Breakpoints - Stepwise Execution - Debug. Print -Error Handling

UNIT 12: WRITING USER DEFINED FUNCTIONS 6 Hrs.

Writing user-defined Functions (UDF) for building financial pricing libraries - Creating UDF for building

financial LIBRARIES

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UNIT 13: DASHBOARDS 12 Hrs.

Functions And Data Tools For Dashboarding - Named Ranges and Data Analysis using Tables - Pivot Tables,

Pivot Charts-Data Slicers and Timeline - Grouping/Ungrouping in Excel - Data Validation Techniques -

Dependent Lists using Data Validation - Important Functions In Excel with Applications

Lookups & Searches for Dashboards: Lookup, Offset and Match functions - Wild Card Searches, Case

Sensitive Searches - Dynamic Linking using Lookup, Offset and Match Functions - 2-Dimensional and 3-

Dimensional Lookups - Multi-conditional Lookups for Dashboards - Lookup nth occurrence on the list -

Reverse Lookups and Searches

Dashboards for Business Analysis: Advanced Business Functionalities - Custom and Advanced Filters -

Dynamic and Flexible Functions for Dashboards - In-cell charting techniques for Dashboards - Advanced

Conditional Formatting and Visualization techniques for Dashboards - Advanced Charts, Dynamic Charts and

Combination Charts - Heat mapping, Indexing, Slicing for Business Dashboards - Building KPI Dashboards

and Reports - Examples of Application Building from Finance, Marketing and Sales, Project Management,

Human Resources - Case Study and Applied Dashboard Creation – In class Exercise.

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