Course Catalog

Course description not available.

Course description not available.

Introduction to Mathematical Finance and Financial Engineering

This course is an introduction to information economics. It introduces students to the economics of contracting in presence of information asymmetries between contracting parties. It has a specific focus on the problems on the problems of adverse selection and moral hazard and what best can be done in the presence of such problems.

Course description not available.

This course introduces the basics of the practice of modern econometric techniques. A detailed discussion of basic ideas in probability and statistics and the linear regression model will be presented. The topics included in the course are: the simple regression model, multiple regression models, classical assumptions about disturbances, hypothesis testing, violation of classical assumptions, multicollinearity, heteroskedasticity, omitted variable bias, functional forms, dummy variables, outliers, goodness of fit and instrumental variables. This course will be intensive in assignments both analytical and data oriented and will also include a project which the students will complete in groups. To complete some assignments and the project the students will also be introduced to STATA, statistical analysis software.

Course description not available.

Industrial Organization

PART I. Introduction. 1. Introdction 2. Markets, Demand and Supply, and the Price System, 3. International Trade PART II. Macroeconomics Basics 1. National Income Accounting 2. Cost of Living PART III. The Real Economy in the Long Run 1. Production and Growth 2. Savings, Investment and Financial system 3. Unemployment PART IV. Money and Prices in the Long Run 1. Monetary Policy 2. Money Growth and Inflation PART V. The Macroeconomics and Open Economies 1. Open Economy Macroeconomics: Basic Concepts 2. A Macroeconomic Theory of the Open Economy PART VI. Shortrun Economic Fluctuations 1. Aggregate Demand and Aggregate Supply 2. Effect of Monetary and Fiscal Policy on Aggregate Demand 3. Short run trade-off between Inflation and Unemployment.

This course introduces the student to the basics of the practice of modern econometric techniques. I will present a detailed discussion of the linear regression model. The topics included in the course are: the simple regression model, multiple regression models, classical assumptions about disturbances, hypothesis testing, violation of classical assumptions, multicollinearity, heteroskedasticity, omitted variable bias, functional forms, dummy variables, outliers, goodness of fit and instrumental variables. The prerequisite for this course is a course in basic statistics (MAT 284 or equivalent). If you are not sure whether you satisfy the prerequisite, please contact me before the classes begin. This course will be intensive in assignments both analytical and data oriented and will also include a project which the students will complete in groups. The project may also involve some primary data collection. To complete some assignments and the project the students will also be introduced to STATA, statistical analysis software. The tutorials/lab sessions are an integral part of the course. Apart from problem solving these sessions will cover additional topics that will not be covered in class (like STATA tutorials) but that will be essential to finishing the class successfully.

Game Theory

This course is intended to provide advanced tools and techniques in the spheres of consumer theory, markets, and general equilibrium. Students will be rigorously taught how consumers maximize their preferences given their budgets to make optimal consumption decisions, which in turn are aggregated to form the industry demand. Again, firms choose technology and employ resources optimally to minimize costs, which give rise to the industry supply function. The industry demand and supply then interact in the context of different market structures (perfect competition, monopoly, oligopoly, etc.) to determine market price and quantity in equilibrium, which give rise to consumer and producer surplus. The government may impose taxes or provide subsidies to alter these surpluses. Finally General Equilibrium analysis is invoked to analyse the behavior of multiple markets at the same time, and how a change in one affects the other.

Time series

Industrial Organization

This is a first undergraduate public economics class that focuses on role of government in the economy. This course is designed to provide a basic understanding of reasons of government in-tervention, the benefits of such policies and the consequent response of the economic agents. The course begins with the scope of government intervention in case of market failure, and then covers various forms of intervention from taxation, redistribution to provision of public goods.

Advanced Microeconomics

Course description not available.

Overview This course is an introduction to the economics of money, credit, banking, interest rates, financial intermediaries and financial markets. We will study how monetary policy influences interest rates and asset markets, such as the bond market and the stock market. We will analyze financial intermediation and the role of banks in the economic system and study the economic rationale behind banking regulation. We will also review evidence and theory on how monetary policy affects real economic activity, and then study the instruments and goals of monetary policy, focusing on credibility and expectations management for central banks, and the connection with fiscal policy. We will consider and evaluate these topics within Keynesianism and Monetarism and deal with contemporary financial issues in developing countries including a focus on monetary policy in India. Detailed Syllabus Course Outline and Readings: I. Introduction to Money and Banking Chapter 1, The Economics of Money, Banking and Financial Markets Ashima Goyal, ‘History of Monetary Policy in India since Independence’, IGIDR Working Paper, 2011 II. Money, Credit, Commercial Banks and Reserve Bank of India Chapter 4, 10 Monetary Policy in a Globalized economy Chapter 10, The Economics of Money, Banking and Financial Markets Alicia Garcı´a-Herrero, Sergio Gavila´ y and Daniel Santaba´rbaraz ‘China’s Banking Reform: An Assessment of its Evolution and Possible Impact’ CESifo Economic Studies, Vol. 52, 2/2006, 304–363, 2006 Narayan Chandra Pradhan ‘Persistence of Informal Credit in Rural India: Evidence from ‘All-India Debt and Investment Survey and Beyond’, WPS (DEPR): 05 / 2013 RBI Working Paper, April 2013 Snehal Herwadkar and Saurabh Ghosh, ‘What explains credit inequality across Indian states? An empirical analysis’, RBI Occasional Paper Vol. 34, No. 1 & 2: 2013 III. Financial markets and instruments, interest rates and bonds Chapter 4, The Economics of Money, Banking and Financial Markets Kanad Chaudhari, Meenal Raje and Charan Singh, Corporate Bond Markets in India: A study and policy recommendations, IIM Bangalore Working Paper No. 450, February 2014 Stephen Wells and Lotte Schou-Zibell, India’s Bond Market— Developments and Challenges Ahead, Asian Development Bank Working Paper Series on Regional Economic Integration No. 22, December 2008. Y V Reddy ‘Issues and challenges in the development of the debt market in India’, Bank for International Settlements Papers No. 11, 2002 IV. Structure of interest rates, market efficiency Chapter 6, 7 The Economics of Money, Banking and Financial Markets Harendra Kumar Behera Sitikantha Pattanaik and Rajesh Kavediya, ‘Natural Interest Rate: Assessing the Stance of India’s Monetary Policy under Uncertainty’, RBI Working Paper WPS (DEPR): 05/2015, October 2015 V. Monetary policy tools, goals and targets: issues, difficulties and formulation, implementation & globalization Chapter 23, The Economics of Money, Banking and Financial Markets Chapter 13, Monetary Policy in a Globalized economy Reserve Bank of India Monetary Policy Report, September 2015 B L Pandit and Pankaj Vashisht, ‘Monetary Policy and Credit Demand in India and Some EMEs’, ICRIER Working Paper 256, May 2011 Sonali Das, ‘Monetary Policy in India: Transmission to Bank Interest Rates’, IMF Working Paper WP/15/29, June 2015 VI. Gross Domestic Product, Aggregate Demand & Aggregate Supply, fiscal policy & interest rates Chapter 24, The Economics of Money, Banking and Financial Markets Serhan Cevik and Carolina Correa-Caro ‘Growing (Un)equal: Fiscal Policy and Income Inequality in China and BRIC+’ IMF Working Paper WP/15/68, March 2015 VII. Inflation, Rational Expectations Chapter 26, 27, The Economics of Money, Banking and Financial Markets Deepak Mohanty A B Chakraborty Abhiman Das and Joice John, ‘Inflation Threshold in India: An Empirical Investigation’ WPS (DEPR): 18/2011 RBI Working Paper Series, September 2011 VIII. International financial system, financial institutions and financial crises Chapter 20, The Economics of Money, Banking and Financial Markets Amarendra Acharya and Anupam Prakash, ‘International Financial Integration, Capital Flows and Growth of Asian Economies’, RBI Occasional Paper Vol. 34, No. 1 & 2: 2013 Raghuram G. Rajan Has Financial Development Made the World Riskier? NBER Working Paper No. 11728, November 2005 Raghuram Rajan, 2010, Fault Lines: How Hidden Fractures Still Threaten the World Economy, New Jersey: Princeton University Press

Growth And Inequality

This course is an introduction to the theory of international trade and trade policy. The course also introduces the students to forex market and macroeconomic analyses of an open economy. The issues discussed include gains from trade and their distribution; analysis of protectionism; trade barriers; exchange rate determination; and interlinkages of the domestic economy with rest of the world.  

The course is designed to enable students to conduct survey independently. The course will review questionnaire designing and methods of data collection used in surveys and data analysis. Simple techniques like central tendencies, dispersion and regression will be covered under this course. Processes underlying data collection and practical challenges that arise with each mode; coverage error; nonresponse error; interviewer effects and training; timing; and mode effects. This course will particularly focus on electronic mode of data collection.

Undergraduate Research Thesis II

Course description not available.

Course description not available.

Statistics

Energy Economics

Independent Research Project

Readings in Game Theory

Reading Course in Macroeconomics

Prethesis Credits

Macroeconomics I

Game Theory

Microeconomics II

Econometrics II

Econometrics I

Development Economics

Finance I

Mathematical Methods

Optimization

Computational Economics

Development Economics II

Political Economy

Political And Institutional Economics

Theory of Corporate Finance

Advanced Econometrics

Industrial Organization

International Finance

Advanced Microeconomics

Applied Research In Development Economics

Research Course In Financial Economics