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Comprehensive Course Structure

Detailed Departmental Elective Courses

Development Economics (ECON-301): This course explores the economic processes behind poverty reduction, social welfare programs, and sustainable development in low-income countries. Students examine case studies from Africa, Asia, and Latin America to understand how policies affect outcomes like education access, healthcare delivery, and infrastructure development.

Financial Economics (ECON-302): Focused on asset pricing models, portfolio theory, and financial market behavior, this course introduces students to risk management techniques and investment strategies. Through practical exercises using financial databases, students learn how to evaluate stock performance, assess credit risk, and design optimal portfolios.

Environmental Economics (ECON-303): Combines economic theory with environmental science to analyze resource scarcity, pollution control, and sustainability initiatives. Students study topics such as carbon pricing, ecosystem services valuation, and green energy transitions using real-world datasets from various countries.

Behavioral Economics (ECON-304): This course investigates how cognitive biases and social influences affect economic decision-making. Students explore concepts like loss aversion, anchoring, and herd behavior through experiments and behavioral models, applying these insights to policy design and consumer behavior analysis.

Public Finance (ECON-305): Examines government revenue systems, expenditure policies, and public sector performance evaluation. Students analyze tax structures, budget processes, and the impact of fiscal policies on economic growth and income distribution across different income groups.

International Trade Theory (ECON-401): Covers comparative advantage, trade blocs, tariffs, and globalization effects. Students engage with current trade disputes, regional agreements, and the role of multilateral organizations in shaping global commerce patterns.

Labor Economics (ECON-402): Studies employment dynamics, wage determination, labor market regulations, and workforce development. Through empirical analysis, students investigate unemployment trends, minimum wage impacts, and skills training effectiveness in different economic contexts.

Economic Policy Analysis (ECON-403): Teaches students how to evaluate the design and implementation of economic policies using data-driven approaches. The course emphasizes cost-benefit analysis, impact assessment frameworks, and stakeholder engagement strategies for policy formulation.

Data Science in Economics (ECON-404): Integrates statistical methods with big data analytics to extract meaningful insights from large datasets. Students learn to use tools like Python, R, and SQL to clean, analyze, and visualize economic data, preparing them for roles in data science and econometrics.

Advanced Econometrics (ECON-501): Builds upon foundational econometrics knowledge by introducing advanced topics such as time series analysis, panel data models, and instrumental variables estimation. Students apply these methods to real-world economic problems using specialized software packages.

Research Methodology in Economics (ECON-502): Provides a structured approach to conducting rigorous economic research. The course covers literature reviews, hypothesis testing, experimental design, and report writing standards required for academic and professional publication.

Capstone Thesis Preparation (ECON-503): Prepares students for independent research by guiding them through topic selection, methodology development, data collection, and thesis structure. Faculty mentors assist in refining research questions and ensuring methodological soundness.

Specialized Elective: Behavioral Finance (ECON-601): Applies behavioral economics principles to financial markets, exploring how investor psychology affects asset prices and market efficiency. Students examine anomalies in financial behavior and develop frameworks for integrating cognitive biases into financial models.

Specialized Elective: Climate Economics (ECON-602): Focuses on the economic implications of climate change and mitigation strategies. Students analyze carbon pricing mechanisms, green investment incentives, and adaptation policies using global datasets and policy reports from international agencies.

Specialized Elective: Economic Policy Evaluation (ECON-603): Teaches students to evaluate the effectiveness of economic interventions using rigorous analytical techniques. Topics include program impact assessment, causal inference methods, and evidence-based policymaking in public and private sectors.

Specialized Elective: Data Visualization and Reporting (ECON-604): Emphasizes visual storytelling through data visualization tools. Students learn to create compelling dashboards, charts, and reports that communicate complex economic findings to diverse audiences including policymakers, investors, and the general public.

Project-Based Learning Philosophy

The Economics program at Lords University Alwar embraces project-based learning as a cornerstone of its educational philosophy. This approach emphasizes active engagement with real-world problems, encouraging students to apply theoretical knowledge in practical contexts.

Mini-projects are integrated throughout the curriculum, beginning in the second year and expanding in scope over time. These projects typically involve data collection, analysis, and presentation of findings on topics such as income inequality, inflation trends, or regional development disparities. Students work in teams under faculty supervision, fostering collaboration and communication skills essential for professional success.

The final-year capstone project is a comprehensive research endeavor that allows students to demonstrate mastery of advanced concepts and methodologies. Projects are selected based on student interests and aligned with current economic challenges, often supported by industry partners or government agencies. Faculty mentors guide students through the entire process, from initial idea generation to final submission.

Students select their capstone topics in consultation with faculty advisors, ensuring alignment with their academic strengths and career aspirations. The evaluation criteria include research quality, analytical depth, clarity of presentation, and adherence to ethical standards. Projects are assessed by both internal faculty panels and external experts from academia or industry, providing a well-rounded perspective on student performance.