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Economics at IIT Kanpur

Seeking a New Identity

11 FEBRUARY 2017

Contents Economics at IIT Kanpuro Historyo Motivationo Rationale behind seeking a new identity

Academic Programs & Student Achievements Faculty Resources & Academic Output Future Plans Appendix: Individual Faculty Profile

2CONTENTS

History of the Economics Group at IITK Economics was introduced in IIT Kanpur as a part of undergraduate technicaleducation and has been an integral part of the Dept. of Humanities and SocialSciences (HSS).

The PhD program in Economics was introduced in 1974. A 5 year IntegratedM.Sc. Program was introduced in 2005. This was transformed in 2011 into a 4year B.S. and a 1 year M.S. in Economics.

Several eminent faculties have been a part of the Economics group at IITK. Apartial list includes A.L. Nagar, T.V.S. Ramamohan Rao, B. Rath and R. Potluri.

The average faculty strength has increased on account of Undergraduate andPostgraduate Economics program. The average faculty size increased from 5during 1981—2000 to 7 during 2001—2010. Currently, the strength is 13.

INTRODUCTION 3

Motivation Rigorous modelling and mathematics based education, which forms the coreof Engineering & Science courses also forms the core of modern education inEconomics. Consequently, their interaction can have academic and societalbenefits.

Acknowledging the potential benefits from such an interaction, the Economicprograms was introduced in IITK (2005) to produce a human resource pool withspecialization in Economics and a sound understanding of Engineering andSciences.

We have been successfully running the UG (i.e., BS–MS) program for the last12 years. Moreover, there is a growing demand for Economics courses amongstthe students.

Economics at IITK, although not a department, is listed in IDEAS-REPEC alongwith the most prestigious Economics Departments in the country.

Given the success of Economics at IITK, the next logical step is to form theDepartment of Economic Sciences that will greatly facilitate our academic andadministrative efforts to achieve greater heights.

INTRODUCTION 4

Rationale for a New Identity Contemporary Economics is highly quantitative and interdisciplinary. Aseparate department will help to freely interact with other disciplines.

The BS-MS (Econ) students have opined in separate platforms that adepartmental identity will bolster their applications for exchange programs,internships, and graduate studies abroad.

We intend to launch new programs such as a 2 year interdisciplinary MSprogram and a MS-PhD program. A separate establishment will help to runmultiple programs.

The formation of a new department will increase the visibility of theEconomics program to future students and faculty members. It will also helpwhile seeking external funds, and being an integral part of the internationalEconomics community.

The proposed Department of Economic Sciences will be the first of its kindwithin the IIT system. We can thus be a pioneer in this process.

INTRODUCTION 5

Academic Programs & StudentAchievements BS-MS Programo Course Structureo Student Placementso Higher Studies (Abroad)

PhD Programo Layouto Thesis & Placement

ACADEMIC PROGRAMS & STUDENT ACHIEVEMENTS 6

BS-MS Program at IITK The BS–MS program in Economics at IITK offers a 4 year BS in Economics withan option of doing a 1 year MS in Economics.

There is provision for dual degree in Economics as well as an option for doublemajor. This is quite unique in India.

The current intake is 38 students per year, with some of the top IIT-JEE rankedstudents vying for a place in the program.

Demand for Economics program at IITK has been consistently increasing asindicated by better ranking student opting for Economics program.


BS-MS Program


BS-MS Program at IITK In the first and second semesters, students are taught the fundamentals ofMathematics, Statistics, Sciences and Engineering. Pre-requisites of economicanalysis are taught in the third semester, followed by advanced Economicscourses.

The composition of a total of 419 credits for BS degree is as follows:o Economics (Compulsory): 107 creditso Economics (Elective) : 37 creditso HSS-Level I : 22 creditso HSS-Level II : 27 creditso Institute Core : 124 creditso Open Electives : 63 creditso SO/ESO : 40 credits


BS-MS Program: Course StructureSemester 1 Semester 2 Semester 3 Semester 4 Semester 5

MTH101A (11) MTH102A (11) COM200A (05) ESO / SO-3 (10) ECO301A (09)

PHY102A (11) /PHY103A (11)

PHY103A (11) /PHY102A (11)

ECO201A (09) OE-1 (09/11) ECO341A (12)

PHY101A (03) /CHM101A (03)

CHM101A (03) /PHY101A (03)

ESO/SO-1 (10) ESC201A (14) /HSS-2 (Level-1)(11)

OE-2 (09)

PE101A (03) CHM102A (08) ESO/SO-2 (10) ECO221A (09) HSS-3 (Level-2)(09)

ENG112A/HSS-1(Level-1) (11)

PE102A (03) HSS-2 (Level-1)(11) /ESC201A (14)

ECO261A (09) ESO/S)-4 (10)

LIF101A (06) +TA101A (09) /ESC101A (14)

ESC101A (14) /LIF101A (06) +TA101A (09)

TA202A (06) /TA201A (06)

TA201A (06) /TA202A (06)

ECO397A (02) /UGP-1 (04)

53/54 Credits 50/51 Credits 51/54 Credits 54/59 Credits 51/53 Credits


BS-MS Program: Course StructureSemester 6 Semester 7 Semester 8 Semester 9 Semester 10

ECO311A (09) ECO321A (09) ECO413A (09) Category A (BS Economics Students)

ECO342A (12) ECO411A (09) DE-4 (09) PG-1 (09) PG-3 (09)

HSS-4 (Level-2)(09)

ECO412A (09) HSS-5 (Level-2)(09)

PG-2 (09) PG-4 (09)

DE-1 (09) DE-3 (09) OE-6 (09) MS Thesis (18) MS Thesis (27)

OE-3 (09) OE-4 (09) OE-7 (09)

UGP-2 / DE-2 (09)(ECO399A)

UGP-3 / DE-5 (09)(ECO498A)

UGP-4 (09)(Extra Credits)

57 Credits 54 Credits 45/54 Credits 36 Credits 45 Credits


BS-MS Program: Course StructureCategory B Students (from Other Departments)

UG Pre-requisites MS Requirements

Odd Semester Even Semester Semester 9 Semester 10

ECO201A (09) /ECO101A (11)

ECO221A (09) PG-1 (09) PG-3 (09)

ECO341A (12) ECO342A (12) PG-2 (09) PG-4 (09)

ECO301A (09) MS Thesis (18) MS Thesis (27)

ECO321A (09)

39 Credits 21 Credits 36 Credits 45 Credits


BS-MS Program: Course StructureCompulsory Courses Elective Courses (Selected)

ECO201A : Microeconomics I ECO424A : Economic Analysis of Law

ECO221A : Macroeconomics I ECO501A : Environmental Economics & Policy

ECO261A : Intro. to Mathematical Economics ECO502A : Applied Game Theory

ECO301A : Microeconomics II ECO506A : Behaviorial & Experimental Economics

ECO341A : Econometrics I ECO522A : Monetary Economics

ECO311A : Development Economics ECO523A : Economic Growth Theory & Practice

ECO342A : Econometrics II ECO535A : Public Economics

ECO321A : Macroeconomics II ECO543A : Bayesian Data Analysis

ECO411A : Industrial Economics ECO544A : Financial Econometrics

ECO412A : International Economics & Finance ECO560A : Health Economics & Policy

ECO413A : Indian Economic Problems & Policy ECO572A : Productivity and Efficiency analysis


BS-MS Student PlacementsCorporate Organizations

Accenture Future First

American Express JP Morgan

Axis Bank Indian Economic Service

Boston Consulting Group McKinsey & Company

Capital One Merill Lynch

Citi Bank Nomura

Credit Suisse PWC US Advisory

Deutsche Bank Reserve Bank of India

Edelweiss Capital Tata Capital

Ernst & Young Walmart Labs

EXL Services World Quant


BS-MS Students for Higher Studies


Name, Batch Program, Admission Year University

Nafisa Lohawala, Y11 PhD, Economics, 2016 University of Michigan, Ann Arbor

Aakriti Mittal, Y12 MS, Financial Engineering, 2016 Columbia University

Akhil Lohia, Y11 MS, Data Science, 2016 Barcelona Graduate School of Economics

Swapnika Reddy, Y9 PhD, Economics, 2015 University of Toronto

Siddhartha Sanghi, Y10 PhD, Economics, 2015 Washington University, St. Louis

Shoan Jain, Y11 MS, Economics, 2015 Yale University

Keshav Goel, Y7 MS, Finance, 2015 MIT Sloan School

Sneha D. Thube, Y10 MS, Economics & Finance, 2015 Barcelona Graduate School of Economics

Prarthana Prabhakar, Y9 MS, Economics, 2015 London School of Economics

Aditya Maheshwari, Y8 MS, Math. & Statistics, 2014 McMaster University

Abhilash Manjhi, Y8 PhD, Economics, 2013 Tilburg University

Agraj Gupta, Y7 PhD, Economics, 2013 University of Washington

PhD Program Layout


Candidate Pool:UGC NET JRF/

Self-sponsored

Admission Test(Summer)

Compulsory Courses (4)(Semester I)

Elective Courses (4)(Semester II)

Comprehensive Exam(Semester III)

State of the Art Seminar(Semester III/IV)

Open Seminar(Year 4/5)

Thesis Submission(Year 4/5)

Thesis Defence(Year 5)

Thesis & PlacementsOur recent PhD graduates have found positions across the country and abroad.

IIT Bombay, IIT Delhi, IIT-ISM Dhanbad

IIM Calcutta, IIM Ahmedabad

RBI

NIPFP

Adigrat University, Ethiopia

BITS Pilani, Hyderabad

NIT Rourkela

CUTS International


Faculty Resources & Academic Output Economics Faculty Areas of Expertise Publications ProjectsWorkshops & Conferences Outreach Awards

FACULTY RESOURCES & ACADEMIC OUTPUT 18

Economics FacultyName PhD Designation Yr. of joining

Dr. Surajit Sinha McMaster University, 1987 Professor 1988

Dr. Joydeep Dutta IIT Kharagpur, 1998 Professor 2014

Dr. Praveen Kulshreshtha Cornell University, 1997 Professor 2009

Dr. Somesh K. Mathur Jawaharlal Nehru University, 2005 Professor 2008

Dr. P. Murali Prasad University Of Hyderabad, 1999 Associate Professor 2003

Dr. Sarani Saha Univ. of California Santa Barbara, 2007 Associate Professor 2007

Dr. Vimal Kumar University of California Irvine, 2008 Associate Professor 2009

Dr. Sohini Sahu State Univ. of New York, Albany, 2009 Assistant Professor 2009

Dr. Tanika Chakraborty Washington University, St. Louis, 2009 Assistant Professor 2011

Dr. Md. Arshad Rahman University of California Irvine, 2013 Assistant Professor 2013

Dr. Deep Mukherjee University of Connecticut, 2012 Assistant Professor 2014

Dr. Debayan Pakrashi University of Queensland, 2014 Assistant Professor 2014

Dr. Wasim Ahmad University of Delhi, 2014 Assistant Professor 2015


Economic TheoryGroup

MicroeconomicsP. Kulshreshtha,

S. Saha

Game TheoryV. Kumar, S. Saha

Macroeconomics & MonetaryEco

W. Ahmad, S. Sahu, S. Sinha

EconometricsM.A. Rahman

Mathematical EconomicsJ. Dutta

StatisticsP. Kulshreshtha, M.A. Rahman

Applied Economicsand Policy Group

Industrial EconomicsP. Kulshreshtha, S. Sinha

Env., Energy & Resource EconomicsW. Ahmad, D. Mukherjee, P.M. Prasad, S. Saha

Financial EconomicsW. Ahmad, P. Kulshreshtha

International Economics & FinanceS.K. Mathur

Behavioral & Experimental EconomicsD. Pakrashi

Labor EconomicsT. Chakraborty, D. Pakrashi, S. Saha

Efficiency & Productivity AnalysisP. Kulshreshtha, S.K. Mathur, D. Mukherjee

Law & EconomicsP.M. Prasad

Development EconomicsT. Chakraborty, D. Mukherjee, D. Pakrashi


Output Summary (Last 5 Years)


Selected Publications in Leading Journals1) Frijters, P. and Pakrashi, D. (2017), “Migration and Discrimination in Urban China: A Decomposition

Approach,” The Review of Income and Wealth, forthcoming.

2) Jones, J.B. and Sahu, S. (2017), “Transition Accounting for India in a Multi-sector Dynamic GeneralEquilibrium Model,” Economic Change and Restructuring, forthcoming.

3) Borwein, J.M. and Dutta, J. (2016), “Maximal Monotone Inclusions and Fitzpatrick functions,”Journal of Optimization Theory and Application, 171(3), 757-784.

4) Bhattacharya, S., Saha, S. and Banerjee, S. (2016), “Income Inequality, Club Formation and theQuality of Public Good: A Developing Country Perspective,” Journal of Development Economics,123, 1 – 17.

5) Chakraborty, T. and Bakshi, S.K. (2016), “English Language Premium in a Globalizing Economy:Evidence from a Policy Experiment in India,” Economics of Education Review, 50, 1-16.

6) Rahman, M.A. (2016), "Bayesian Quantile Regression for Ordinal Models," Bayesian Analysis, 11(1),1-24.

7) Mukherjee, D. and Rahman, M.A. (2016), "To Drill or Not to Drill? An Econometric Analysis of USPublic Opinion,“ Energy Policy, 91, 341-351.


Selected Publications in Leading Journals8) Gaurav, A. and Mathur, S.K. (2015), “Determinants of Trade Costs and Trade Growth Accounting

between India and the European Union during 1995–2010,” The World Economy, 39, 1399-1413.

9) Chakraborty, T. (2015), “Trade Liberalization in a Traditional Society: Implications for RelativeFemale Survival,” World Development, 74, 158–170.

10) Lordan, G. and Pakrashi, D. (2015), “Do all activities ‘weigh’ equally? How different physicalactivities differ as predictors of weight,” Risk Analysis, 35, 2069-2086.

11) Sehgal, S., Ahmad, W., Deisting, F. (2015), “An Investigation of Price Discovery and VolatilitySpillovers in India’s foreign exchange markets, Journal of Economic Studies, 42(2), 261-284.

12) Beckmann, M. and Kumar, V. (2011), “Practicing Presidential Leadership: A Model of Presidents'Positive Power in U.S. Lawmaking,” Journal of Theoretical Politics, 23(1), 3-20.

13) Burachik, R., and Dutta, J. (2010), “Inexact Proximal Point Methods for Variational InequalityProblems,” SIAM Journal of Optimization, 20(5), 2653– 2678.

14) Kulshrestha, P. (2007), “An Efficiency and Welfare Classification of Rationing by Waiting in thePresence of Bribery,” Journal of Development Economics, 83(2), 530-548.


Book Publications1) Nagar, R., Prasad, P.M., & Mamidi, P. (Eds.) (2017). Law and Economics:

Breaking New Grounds. Eastern Book Company.

2) Mathur, S.K., Arora, R., & Singh, S. (Eds.). (2017). TheorizingInternational Trade: An Indian Perspective. Palgrave Macmillan.

3) Sengupta, R.N., Gupta, A., & Dutta, J. (Eds.). (2016). Decision Sciences:Theory and Practice. CRC Press.

4) Mathur, S.K., Arora, R., & Singh, S. (Eds.). (2016). Methods &Applications in Trade Policy Research. Athena Academic.


Selected Projects1) D. Pakrashi, “Evaluating and Learnings from India’s Family Planning

Investments,” Bill & Melinda Gates Foundation, 2016–2018. INR 10 Lakhs.

2) D. Pakrashi, “Skill Formation and Self-Employment Generation throughVocational Training,” Indian Council of Social Science Research (ICSSR), 2016–2018. INR 8.5 Lakhs.

3) W. Ahmad, “Financial Integration in the SAARC Region,” ICSSR, 2015–2017, INR40 Lakhs.

4) T. Chakraborty, “Courts, Networks and Start-Ups: Institutions Matter for SmallEnterprise Development in South Asia,” IDRC Canada, 2015–2017, INR 84 Lakhs.

5) D. Mukherjee, “Socio-economic Study for Developmental Needs Assessment inNearby Areas of Various Thermal Power Stations in Uttar Pradesh,” UttarPradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL), 2015–2016. INR 25 Lakhs


Selected Projects6) T. Chakraborty, “A Study on the Interaction Between the Formal and Informal

Institutions and its Effect on Entrepreneurship,” ICSSR, 2014–2015, INR 10Lakhs.

7) S.K. Mathur, “Trade in Climate Smart Goods: Prometeo Project,” Govt. ofEcuador, Jan-May 2012.

8) P. M. Prasad, “Sustainable Flows in River Ganga”, WWF India, 2009–2010, INR8 Lakhs.

9) P. M. Prasad, “Zoning Policy in Indian Mega Cities”, ICSSR, 2008–2010, INR 6.5Lakhs.


Workshops & Conferences1) Q.I.P. course “Statistical Techniques and R Software,” 8th–12th September 2016, co-

organized with Prof. Shalabh (Department of Mathematics & Statistics). (Faculty:M.A. Rahman).

2) Second International Conference on Law and Economics (ICLE) on “Market, Non-market and Network Transactions,” 3rd–4th September, 2016 in association withGujarat National Law University (GNLU), Gandhinagar and IIM Ahmedabad.(Faculty: P.M. Prasad).

3) The first Development Policy Research Network Workshop and RoundtableDiscussion with Policymakers, March 16th–17th , 2016. (Faculty: D. Pakrashi).

4) International Conference on Law and Economics (ICLE), 14th–15th March, 2015 atGujarat National Law University (GNLU), Gandhi Nagar along with IIMAhmadabad. (Faculty: P.M. Prasad).

5) Q.I.P. course “Sustainable Development: Policy & Management,” 30th Nov–6th Dec,2015. (Faculty: T. Chakraborty, D. Mukherjee, S. Saha).


Workshops & Conferences7) Q.I.P. course on “Applied Game Theory,” 20th–24th June, 2014, co-organized with Dr. A.

Jagannatham (Department of Electrical Engineering). (Faculty: Vimal Kumar).

8) Q.I.P. course on “Power Markets and Economics,” for Power System OperationCorporation (POSOCO) officials, 15th–18th May, 2014, co-organized with Professor S.N.Singh (Department of Electrical Engineering). (Faculty: Vimal Kumar).

9) Q.I.P. course on “Frontier Areas in Econometrics and International Trade & Finance,”10th–20th December, 2014. (Faculty: S.K. Mathur).

10) Q.I.P. course on “Power System Economics,” 26th–30th July, 2013 at IIT Kanpur, co-organized with Professor S.N. Singh (Department of Electrical Engineering).(Faculty: Vimal Kumar).

11) Q.I.P. course on “Law & Economics,” 22nd –28th October, 2012. (Faculty: P.M. Prasad).

12) Q.I.P. course on “Law & Economics,” 3rd–9th October, 2011. (Faculty: P.M. Prasad).


Outreach1) Global Initiatives of Academic Networks (GIAN) Course

o P.M. Prasad (and Dr. Hans-Bernd Schäfer, Bucerius Law School Hochschule fürRechtswissenschaft) – Law and Economics for Solving Social, Economic and TechnicalChallenges

2) National Programme on Technology Enhanced Learning Courses (NPTEL): Videoo S.K. Mathur – International Economicso Surajit Sinha – Money & Banking, Macroeconomics

3) NPTEL Courses: Webo Sarani Saha – Game Theory for Economistso Tanika Chakraborty – Public Economics

4) Massive Open Online Courses (MOOC):o Joydeep Dutta – Basic Calculus for Engineers, Scientists and Economistso Joydeep Dutta – Probability and Stochastics for Finance (Part I & II)o Vimal Kumar – Game Theory & Strategy


Awards1) T. Chakraborty: IITK Class of 1984 Faculty Research Fellowship, 2015-18.

2) D. Pakrashi: Australian Alumni Excellence Award India under Young AchieverCategory, 2015.

3) W. Ahmad: Prof. M.J. Manohar Rao Award (Young Economists Award) by TheIndian Econometric Society (TIES), 2014.

4) V. Kumar: Young Faculty Research Fellowship: P.K. Kelkar (Class of 1982Batch) Fellowship from June 1, 2013 - May 31, 2016.

5) V. Kumar: Founders Award for the Best Paper at the 2010 AmericanPolitical Science Association’s Annual Conference, 2011.

6) S. Sinha, P. Kulshrestha, V. Kumar, S. Sahu, D. Mukherjee, D. Pakrashi: Letterof Appreciation from the Director (IITK) for excellence in teaching.


Future Plans Faculty Hiring Student Intake New Masters Program Funding

FUTURE PLANS 31

Faculty HiringWe intend to hire aggressively and increase our thrust in research. We areproactively looking to hire faculty in core areas and allied fields:o Macroeconomics & Growth Theoryo Econometricso Game Theory & Mechanism Designo Financeo Transportation Economicso Operations Researcho Computational Economics

We intend to create Chair Professorships in the new department, whichcan be used to attract reputed and established faculty/researchers.

Eminent scholars will be invited for short/long term visits. We will alsoinvite relevant faculty members from other departments, to join the newdepartment as adjunct/joint appointments.

FUTURE PLANS 32

Student IntakeWe aim to attract best talents to our program from across the country.

Admission to the (proposed) 2 Yr. Masters in Economic Sciences (MES)program will be routed through the JAM examination. We propose toinclude “Quantitative Methods in Economics” as a paper in the futureJAM examinations.

Currently, PhD student pool is either NET/GATE qualified orsponsored. We plan to expand the candidate pool by including nationaland international examinations such as CAT and GRE, respectively.

Hiring new faculties will lead to an increase in postgraduate courses.This will enable us to strengthen our PhD program and match the beststandards. We believe this will attract better PhD students from acrossthe nation.

FUTURE PLANS 33

New Masters ProgramWe intend to float a new Masters in Economic Sciences (MES)program. 1st Year: Students shall take compulsory courses for a basic training ineconomics and quantitative methods. 2nd Year: Students shall have the option to specialize in one of thepotential areas:o Applied Economicso Data Sciences and Financial Engineeringo Sustainable Development

To offer specialization in the last two areas, we wish to collaboratewith other departments such as Mathematics & Statistics, ComputerScience, Civil Engr., Industrial & Management Engr. and Earth Sciences.

FUTURE PLANS 34

Potential for Collaboration

FUTURE PLANS 35

Economic Sciences

Mathematics & Statistics• Advanced Stat. Methods

Civil Engineering• Environmental Pollution• Transportation

Earth Sciences• Environ. Sustainability• GIS Applications

Industrial Management & Engr.• Financial Risk Modelling• Management Science

Computer Science & Engr.• Adv. Computing Methods• Big Data Analysis

New MES Program

Proposed Coursework for the MES (2-year) Program

Semester 1 Semester 2 Semester 3 Semester 4

Microeconomics-I Microeconomics-II DE-1 DE-3

Macroeconomics-I Econometrics-II DE-2 DE-4

Econometrics-I Industrial Economics OE-1 OE-2

Applied Prob. and Stat. Game Theory Thesis/Project 1 Thesis/Project 2

Mathematical Economics International Trade

Credits : 45-55 Credits : 45-55 Credits: 45 Credits: 45

FUTURE PLANS 36

Funding The new department will seek funds from external sources forvarious academic activities including seminars and conferences.

Some potential funding sources include:o Various Ministries (Ministry of Environment & Forestry and Ministry of Statistics)o ICSSR, IDRC, UNICEF, SANDEE, IDRCo Azim Premji Foundation, Melinda Gates Foundation

The current group Convener has taken steps to create an account toaccept funds from the alumni and professional bodies interested in theestablishment of the new department at IITK.

The economics alumni have been contacted and there is strongsupport for financial assistance once the new department isestablished.

FUTURE PLANS 37

With an increasing emphasis being laid on a technology &knowledge driven economy, IITK has a golden opportunityto be a pioneer in interdisciplinary economic research,teaching, training, and outreach activities.

We have a fairly strong research outfit now. We will try tomake that stronger and be recognized. Research is the keyto the future.

38

Vision Statement

Thank you

39

Appendix:

Individual Faculty ProfileACADEMIC BACKGROUND AND FIVE MOST RECENTPUBLICATIONS

Surajit Sinha (Professor)

Ph.D. Economics (1987), McMaster University M.A. Economics (1982), McMaster University M.A. Economics (1979), University of Calcutta B.Sc. Economics (1977), University of Calcutta

Singhal, P. and Sinha, S. (2014), “Network analysis of an Indian stock market using the minimumspanning tree algorithm,” Journal of Quantitative Economics, 12, 44-59.

Sinha, S. (2010), “Does Inflation Affect Indian Economic Growth?,” Analytique, 6(6), .

Sinha, S. and co-author (2009), “Determinants of Indian WPI Inflation,” The Indian EconomicJournal, 57(3), 72-92.

Sinha, S. and co-author (2004), “Accelerators and Investment Functions,” The Indian EconomicJournal, 52(1-2), 21-32.

Sinha, S. (1999), “Determinants of Indian WPI Inflation,” IJAE, 8(2), 313-319.

INDIVIDUAL FACULTY PROFILE 41

JoydeepDutta (Professor)

Ph.D. Mathematics (1998), Indian Institute of TechnologyKharagpur

M.Sc. Mathematics (1993), Indian Institute of TechnologyKharagpur

B.Sc. Mathematics (1991), St. Xavier’s College, Kolkata

Charitha, C., Dutta. J. and D. R. Luke (2016), “Lagrange Multipliers, (Exact) Regularization and ErrorBounds for Monotone Variational Inequalities,” Mathematical Programming (Series A),forthcoming.

Dutta, J. (2016), “Convex Functions in Optimization,” in Decision Sciences: Theory and Practice,edited by R.N. Sengupta, A. Gupta and J. Dutta, CRC Press.

Borwein, J.M. and Dutta, J. (2016), “Maximal Monotone Inclusions and Fitzpatrick functions,”Journal of Optimization Theory and Application, 171, 757-784.

Dutta, J. (2015), “Barrier Methods in Nonsmooth Convex Optimization without ConvexRepresentation,” Optimization Letters, 9, 1177-1185.

Charitha, C., Dutta, J. and C. S. Lalitha (2015), “Gap Functions for Vector Variational Inequalities,”Optimization, 64, 1499-1520.


PraveenKulshrestha (Professor)

Ph.D. Economics (1997), Cornell University M.A. Economics (1994), Cornell University M.Stat. (1989), Indian Statistical Institute, Kolkata B.Stat. (1987), Indian Statistical Institute, Kolkata

Kulshrestha, P. (2015), “Ethical Leadership and Contemporary Organizational Ethics: Principles andCases”, Journal of Leadership, Accountability and Ethics, 12(1), 94-97.

Kulshrestha, P. and Nayak, T. K. (2015), “Technical Efficiency of Higher Technical EducationalInstitutions in India,” Archives of Business Research, 3(1), 94-122.

Babu, M. and Kulshrestha, P. (2014), “Productivity Change and Technical Efficiency in IndianMicrofinance Institutions,” Studies in Microeconomics, 2(2), 165-200.

Gangopadhyay, A.K., Kulshrestha, P. and Verma, M. (2013), “Estimation of Regression Coefficientsof a Selected Population,” Journal of Statistical Theory and Practice, 7(3), 505-514.

Rachapalli, S. R. and Kulshrestha, P. (2013), “Evolutionarily Stable Conjectures and Social Optimalityin Oligopolies,” Theoretical Economic Letters, 3, 12-18.


SomeshKumarMathur (Professor)

Ph.D. Economics (2005), Jawaharlal Nehru University M.Phil. Economics (1997), Jawaharlal Nehru University M.A. Economics (1994), Jamia Milia Islamia University B.A. Economics (1990), University of Delhi

Arora, R., Singh, S. and Mathur, S.K. (2016), “Assessment of Proposed India-China Free TradeAgreement: A General Equilibrium Approach,” Journal of Centum Cathedra: The Business andEconomics Research Journal, 8(2), 81-108.

Roy, A. and Mathur, S.K. (2016), “Brexit and India-EU Free Trade Agreement,” Journal of EconomicIntegration, 31, 740-773.

Gaurav, A. and Mathur, S.K. (2015), “Determinants of Trade Costs and Trade Growth Accountingbetween India and the European Union during 1995–2010,” The World Economy, 39, 1399-1413.

Arora, R. and Mathur, S.K.,(2015), “Welfare Implications of India’s Trade Liberalization with Its AsianPartners: A General Equilibrium Analysis,” Trade and Development Review, 8(2), 68-95.

Srivastava, A. and Mathur, S.K. (2013), “Relative Prices, Trade, Technology and Wage Inequality:Evidence from India,” Foreign Trade Review, 48, 359-381.


P.Murali Prasad (Associate Professor)

Ph.D. Economics (1999), University of Hyderabad M.A. Law and Economics (1996), University of Hamburg M.Phil. Economics (1990), S.V. University M.A. Economics (1987), S.V. University B.A. Economics (1985), S.V. University

Prasad, P.M. (2014), “E-flows related livelihood in the Ganga River: A case study of tourism,” in OurNational River Ganga: Lifeline of Millions, edited by Sanghi, R., Springer.

Prasad, P.M. (2007), “Environmental Protection: The Role of Regulatory System in India,” in Ecologyand Human Well-Being, edited by Kumar, P. and Reddy, B. S., Sage Publication.

Prasad, P.M. (2006), “Environmental Protection: The Role of Regulatory System in India,” Economicand Political Weekly, 41(13), 1278-1288.

Prasad, P.M. (2006), “WTO and Its Implication for Sustainable Development: The Role of Engineers,”Directions (Interface between Economics and Technology, IIT Kanpur, 7(4), 86-91.

Prasad, P.M. (2004), “Environmental Protection: The Role of Liability System in India,” Economicand Political Weekly, 39(3), 257-269.


Sarani Saha (Associate Professor)

Ph.D. Economics (2007), University of California SantaBarbara

M.A. Economics (2003), University of California SantaBarabara

M.A. Economics (2001), University of Calcutta B.Sc. Economics (1999), St. Xavier’s College, Kolkata

Bhattacharya, S., Saha, S. and Banerjee, S. (2016), “Income Inequality, Club Formation and the Quality ofPublic Good: A Developing Country Perspective,” Journal of Development Economics, 123, 1 – 17.

Irfan, M., Saha, S. and Singh, S. (2016), " Determinants of being acquired in Indian Manufacturing Sector: APanel Data Analysis," Journal of Indian Business Research, 8(4), 246-263.

Chakraborty, T., Mukherjee, A. and Saha, S. (2015), “Court-ship, Kinship and Business: A Study on theInteraction between the Formal and Informal Institutions and its Effect on Entrepreneurship,” IZA Journalof Labor and Development, 4, 1-21.

Saha, S., Roy, P., and Kar, S. (2014), “Public and Private Sector Jobs, Bribes and Consumption Gap in India:Evidence from Micro Data,” The North American Journal of Economics and Finance, 29, 285 - 300.

Saha, S. (2011), “City-Level Analysis of Effect of Political Regimes on Public Good Provision,” Public Choice,147(1), 155 – 171.


Vimal Kumar (Associate Professor)

Ph.D. Economics (2008), University of California Irvine M.Tech. Thermal Fluid Engineering (2003), IIT Bombay B. Tech. Mechanical Engineering (2003), IIT Bombay

Jagannathan, A.K. and Kumar, V. (2016), “Introduction to Game Theory,” in Decision Sciences:Theory and Practice, edited by R.N. Sengupta, A. Gupta and J. Dutta, CRC Press.

Panda, D., Singh, S. N. and Kumar, V. (2014), “Risk Constraint Profit maximization in Multi Electricitymarket”, Proceeding of IEEE Power and Energy Society General Meeting, Washington DC, USA.

Beckmann, M. and Kumar, V. (2011), “Opportunism in Polarization: Presidential Success in U.S.Senate, 1953-2006,” Presidential Studies Quarterly, 41(3), 488-503.

Beckmann, M. and Kumar, V. (2011), “Practicing Presidential Leadership: A Model of Presidents'Positive Power in U.S. Lawmaking,” Journal of Theoretical Politics, 23(1), 3-20.

Skaperdas, S. and Kumar, V. (2009), “On The Economics of Organized Crime," in Criminal Law andEconomics, edited by Garoupa, N., Edward Elgar Publication.


Sohini Sahu (Assistant Professor)

Ph.D. Economics (2009), State University of New York,Albany

M.A. Economics (2002), Delhi School of Economics B.A. Economics (2000), Jadavpur University

Jones, J.B. and Sahu, S. (2016), “Transition Accounting for India in a Multi-sector Dynamic GeneralEquilibrium Model,” Economic Change and Restructuring, 1-41.

Sahu, S. (2016), “Transition Accounting for India in a Multi-sector Dynamic General EquilibriumModel,” Journal of Developing Areas, forthcoming.

Sahu, S. (2015), “Source of Service Sector TFP Growth in India- Evidence from Micro Data,” SouthAsian Journal for Macroeconomics and Finance, 4, 62-90.

Sahu, S. (2014), “Liberalization and service sector performance in India,” The Empirical EconomicsLetters, 13(12).

Mehra, M.K., Sinha, M. and Sahu, S. (2004), “Trade-Related Subsidies- Bridging the North-SouthDivide: An Indian Perspective,” Winnipeg, International Institute for Sustainable Development,Canada.


TanikaChakraborty (Assistant Professor)

Ph.D. Economics (2009), Washington University, St. Louis M.A. Economics (2002), Jawaharlal Nehru University B.Sc. Economics (2000), University of Calcutta

Chakraborty, T. and Bakshi, S.K. (2016), “English Language Premium in a Globalizing Economy:Evidence from a Policy Experiment in India,” Economics of Education Review, 50, 1-16.

Chakraborty, T., Mukherjee, A. and Saha, S. (2015), “Court-ship, Kinship and Business: A Study onthe Interaction between the Formal and Informal Institutions and its Effect on Entrepreneurship,”IZA Journal of Labor and Development, 4, 1-21.

Chakraborty, C. and De, P.K. (2015), “Mother’s autonomy and child’s secondary schoolingenrollment in Mexico,” Review of Economics of the Household, 1-17.

Chakraborty, T. (2015), “Trade Liberalization in a Traditional Society: Implications for RelativeFemale Survival,” World Development, 74, 158–170.

Chakraborty, T., Mirkasimov, B. and Steiner, S. (2015), “Transfer Behaviour in Migrant SendingCommunities,” Journal of Comparative Economics, 43, 690-705.


MohammadArshadRahman (Assistant Professor)

Ph.D. Economics (2013), University of California Irvine M.S. Statistics (2011), University of California Irvine M.A. Economics (2010), University of California Irvine M.A. Economics (2006), Delhi School of Economics B.Sc. Economics (2004), St. Xavier’s College, Kolkata

Mukherjee, D. and Rahman, M.A. (2016), "To Drill or Not to Drill? An Econometric Analysis of USPublic Opinion,", Energy Policy, 91, 341-351.

Rahman, M.A. (2016), "Bayesian Quantile Regression for Ordinal Models," Bayesian Analysis, 11(1),1-24.

Rahman, M.A. (2013), "Quantile Regression using Metaheuristic Algorithms," International Journalof Computational Economics and Econometrics, 3(3/4), 205-233.

Jelaizkov, I. and Rahman, M.A. (2012), "Binary and Ordinal Data Analysis in Economics: Modelingand Estimation," in Mathematical Modeling with Multidisciplinary Applications, edited by X.S.Yang, 123-150. John Wiley & Sons Inc, Hoboken, New Jersey.

Li, P. and Rahman, M.A. (2011), "Bayesian Analysis of Multivariate Sample Selection Models UsingGaussian Copulas," Advances in Econometrics, 27, 269-288.


DeepMukherjee (Assistant Professor)

Ph.D. Agricultural and Resource Economics (2012), University ofConnecticut

M.S. Agricultural and Resource Economics (2009), University ofConnecticut

M.S. Quantitative Economics (2004), Indian Statistical Institute B.A. Economics (2002), Jadavpur University

Tsvetanov, T., L. Qi, D. Mukherjee, F.A. Shah and B. E. Bravo-Ureta (2016), “Climate change and land use inSoutheastern U.S.: Did the “dumb farmer” get it wrong?” Climate Change Economics, 7, 1–35.

Mukherjee, D. and Rahman, M.A. (2016), "To Drill or Not to Drill? An Econometric Analysis of US PublicOpinion,", Energy Policy, 91, 341-351.

Njuki, E., Bravo-Ureta, B.E. and Mukherjee, D. (2016), “The good and the bad: Environmental efficiency inNortheastern U.S. dairy farming.” Agricultural & Resource Economics Review, 45, 22–43.

Mukherjee, D., Cromley, R.G., Shah, F.A. and Bravo-Ureta, B.E. (2015), “Optimal location of centralizedbiodigesters for small dairy farms: A case study from the United States.” International Journal ofSustainable Energy Planning & Management, 8, 3–16.

Mukherjee, D., Bravo-Ureta, B.E. and De Vries, A. (2013), “Dairy productivity and climatic conditions:Econometric evidence from Southeastern United States,” Australian Journal of Agricultural & ResourceEconomics, 57, 123–140.


DebayanPakrashi (Assistant Professor)

Ph.D. Economics (2014), University of Queensland M.A. Economics (2010), University of Calgary M.A. Economics (2008), Jawaharlal Nehru University B.Sc. Economics (2006), University of Calcutta

Frijters, P. and Pakrashi, D. (2017), “Migration and Discrimination in Urban China: A DecompositionApproach,” The Review of Income and Wealth, forthcoming.

Islam, A., Maitra, C, Pakrashi, D. and Smyth, R. (2016), “Microcredit Program Participation andHousehold Food Security in Rural Bangladesh,” Journal of Agricultural Economics, 67, 448-470.

Lordan, G. and Pakrashi, D. (2015), “Do all activities ‘weigh’ equally? How different physicalactivities differ as predictors of weight,” Risk Analysis, 35, 2069-2086.

Lordan, G. and Pakrashi, D. (2014), “Make Time for Physical Activity or You May Spend More TimeSick!,” Social Indicators Research, 119, 1379-1391.

Beaulieu, E. and Pakrashi, D. (2013) "Do WTO members employ less child labour?", Indian Growthand Development Review, 6(1), 148 – 159.


WasimAhmad (Assistant Professor)

Ph.D. Financial Economics (2014), University of Delhi M.A. Economics (2007), University of Hyderabad B.A. Economics (2004), Aligarh Muslim University

Nain, Z, Ahmad, W. and Kamaiah, B. (2016), “Economic growth, energy consumption and CO2 emissions inIndia: a disaggregated causal analysis,” International Journal of Sustainable Energy, forthcoming.

Ahmad, W., Bhanumurthy, N.R. and Sehgal, S. (2015), “Regime dependent dynamics and European stockmarkets: Is asset allocation really possible?” Empirica, 42, 77-107.

Ahmad, W. (2015), “The investigation of destabilization effect in India’s commodity futures market: Analternative viewpoint”, Journal of Financial Economic Policy, 7, 122-139.

Ahmad, W. (2015), “Regime shifts and volatility in BRIICKS stock markets: An asset allocation perspective”,International Journal of Emerging Markets, 10, 383-408.

Ahmad, W., Nain, Z. and Kamaiah (2014), “On the role of the trend and cyclical components in electricityconsumption and India’s economic growth: a cointegration and cofeature approach,” OPEC Energy Review,38, 107-126.


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