Economics

The Bachelor of Arts in Economics program focuses on exploring the economic study and analysis, policy framing and implementation issues faced by the Indian economy along with the analysis of other economies in the world. It recognizes the growing demand for trained manpower in industry, government, research and other sectors as well as nurturing future researchers and specialists in economics.

The curriculum is designed in such a way to ignite young minds with innovating ideas and concepts. It focuses on global issues related to economics and business. The curriculum covers topics ranging from expanding markets to the impact of the global financial crisis. The program will develop students’ analytical and problem solving skills along with their writing, reading, speaking and presentation skills. Building upon the foundation laid in the first two years in Economics and quantitative courses, students can choose from a wide variety of Elective courses and specializations in the third year.

• Apply demand and supply analysis to explain how prices and output are determined in different markets
• Know where to find or how to compute and use economic indicators like GDP, exchange rate, unemployment rate, inflation rate, interest rate, CPI, Money Supply, MPR, CRR, Repos, and NCO, Labour statistics etc
• Understand the techniques for managing macroeconomic risks imposed by changing exchange rate, money supply, inflation, interest rate, fiscal policies and international ratings and understand fundamental macroeconomic relationships such as inflation, interest rate and exchange rate.
• Understand the monetary system, the role of the Central Bank in monetary policy formulation and the key instruments of macroeconomic policy and describe their role in the economy
• Understand the fiscal policy mechanism; how to carry out budgetary analysis, the meaning of the budget cycle, budget deficit, budget surplus and government’s tax and revenue behavior. Since Economics deals with large numbers and data, the importance of statistics is deeply ingrained in the course.

Students with a BA Economics degree can pursue their post-graduation in a number of areas either within or outside the country. For instance, students can pursue their higher studies in Actuarial Science, Finance, Indian Economic Services, Law, Economics and its related disciplines, Rural Development and Public Policy, and Management, to say a few, while being eligible to be employed in the following sectors: Public and Private Sector Corporations and Financial Institutions; Banks and Financial Institutions, Civil Service, Education, Journalism, Marketing, United Nations Organization, Union Government Analyst, Freelance Writing, Administration, Management and Leadership positions in Public and Private Institutions; Teachers in schools, Researchers, Journalists, NGO’s and IT personnel.

PROGRAMME’S EDUCATIONAL OBJECTIVES (PEOs):

PEO 1: Graduates will be exposed to the basic knowledge of economic concepts and methods, and develop the ability to appreciate the challenges in field settings.
PEO 2: Graduates will acquire basic skills in major areas of economics.
PEO3: Graduates will promote personal growth and understand the complexities of the economy and society and how the two make each other up. Graduates will master the basic analytical, scientific writing, computational, and communicative competencies, develop respect for social diversity, and increase the social and economic relevance of learning.

PROGRAMME OUTCOMES (POs):

Upon completion of the Programme, the graduates will be able to: 
PO1: Critical Thinking: Make assumptions, validate and appreciate them from different perspectives. 
PO2: Effective Communication: Develop key communication skills, inclusive of electronic modes, to participate in diverse areas. 
PO3: Social Interactions: Invite the views of others for a harmonious coexistence.
PO4: Effective Citizenship: Sympathize with and be sensitive to issues and participate in civic life to show empathy for social concerns.
PO5: Ethics: Recognize and appreciate value systems to make appropriate decisions in diverse situations.
PO6: Environment and Sustainability: Understand environmental issues and work towards sustainable development.
PO7: Self Directed and Lifelong Learning: To engage in lifelong learning by adopting appropriate technology.

PROGRAMME SPECIFIC OUTCOMES (PSOs):

PSO1: An ability to understand economic theories and the functioning of basic microeconomic and macroeconomic frameworks.
PSO2:  Acquaint with basic and applied mathematical, statistical, and econometric tools to study and resolve real economic and research problems.
PSO3: Acquaint with delineating the development policies to measure development within the theoretical and conceptual frameworks of development.