Course Structure Overview
The Economics program at Madhav University Sirohi is structured over eight semesters, with a balanced mix of core courses, departmental electives, science electives, and laboratory work. The curriculum is designed to progressively build analytical and practical skills, culminating in a capstone project or final-year thesis that allows students to demonstrate mastery in their chosen area of specialization.
| Semester | Course Code | Full Course Title | Credit Structure (L-T-P-C) | Prerequisites |
|---|---|---|---|---|
| 1 | ECON101 | Introduction to Economics | 3-1-0-4 | None |
| 1 | MATH101 | Calculus for Economics | 3-0-0-3 | None |
| 1 | MATH102 | Linear Algebra and Matrices | 3-0-0-3 | None |
| 1 | ECON102 | Microeconomics I | 3-1-0-4 | ECON101 |
| 1 | ECON103 | Macroeconomics I | 3-1-0-4 | ECON101 |
| 2 | ECON201 | Microeconomics II | 3-1-0-4 | ECON102 |
| 2 | ECON202 | Macroeconomics II | 3-1-0-4 | ECON103 |
| 2 | MATH201 | Probability and Statistics | 3-1-0-4 | MATH102 |
| 2 | ECON203 | Introduction to Econometrics | 3-1-0-4 | MATH201 |
| 3 | ECON301 | Game Theory and Strategic Behavior | 3-1-0-4 | ECON201 |
| 3 | ECON302 | Development Economics | 3-1-0-4 | ECON202 |
| 3 | ECON303 | Behavioral Economics | 3-1-0-4 | ECON201 |
| 3 | ECON304 | Environmental Economics | 3-1-0-4 | ECON202 |
| 4 | ECON401 | Financial Economics | 3-1-0-4 | ECON202 |
| 4 | ECON402 | International Trade and Finance | 3-1-0-4 | ECON202 |
| 4 | ECON403 | Health Economics | 3-1-0-4 | ECON201 |
| 5 | ECON501 | Econometrics Lab | 0-0-3-1 | ECON203 |
| 5 | ECON502 | Data Analytics for Economics | 3-1-0-4 | MATH201 |
| 6 | ECON601 | Policy Evaluation Methods | 3-1-0-4 | ECON203 |
| 6 | ECON602 | Research Methods in Economics | 3-1-0-4 | ECON501 |
| 7 | ECON701 | Advanced Microeconomics | 3-1-0-4 | ECON201 |
| 7 | ECON702 | Advanced Macroeconomics | 3-1-0-4 | ECON202 |
| 8 | ECON801 | Final Year Thesis/Project | 0-0-6-6 | ECON602 |
Detailed Elective Course Descriptions
Departmental electives form a crucial part of the curriculum, allowing students to explore specialized areas within economics based on their interests and career goals.
1. Game Theory and Strategic Behavior
This course introduces students to the principles of game theory and its applications in economics and business strategy. Students will learn how to model strategic interactions between rational agents and analyze outcomes in competitive and cooperative settings. Topics include Nash equilibrium, dominant strategies, repeated games, and signaling.
2. Development Economics
This course explores the economic challenges faced by developing countries, including poverty, inequality, education, health, and infrastructure. Students will examine policies aimed at promoting growth and welfare in low-income economies and analyze case studies from various regions.
3. Behavioral Economics
Behavioral economics bridges psychology and economics to understand how cognitive biases, emotions, and social influences affect decision-making. The course covers concepts such as loss aversion, anchoring, mental accounting, and nudging techniques in public policy.
4. Environmental Economics
This elective focuses on the economic analysis of environmental issues such as pollution control, resource depletion, climate change, and sustainable development. Students will learn how to evaluate environmental policies using cost-benefit analysis and market-based instruments like carbon taxes and cap-and-trade systems.
5. Financial Economics
This course examines financial markets, assets pricing, risk management, and corporate finance. It covers topics such as portfolio theory, capital asset pricing model (CAPM), efficient market hypothesis, derivatives, and financial regulation.
6. International Trade and Finance
This course analyzes international trade patterns, exchange rate dynamics, balance of payments, and global financial systems. Students will study trade theories, tariffs, trade agreements, and the role of institutions like the World Bank and IMF in shaping global economic policies.
7. Health Economics
This course explores the economics of healthcare systems, including health insurance markets, medical innovation, public health policy, and cost-effectiveness analysis. Students will analyze how economic principles apply to health outcomes and resource allocation in healthcare settings.
8. Data Analytics for Economics
This course teaches students how to use modern data analytics tools in economic research and policy analysis. It covers data visualization, statistical modeling, machine learning algorithms, and big data platforms relevant to economics.
9. Policy Evaluation Methods
This elective focuses on empirical methods for evaluating the effectiveness of public policies. Students will learn how to design experiments, conduct regression analysis, and interpret policy impacts using real-world datasets.
10. Research Methods in Economics
This course provides a comprehensive overview of research methodologies used in economics, including theoretical modeling, empirical analysis, literature review, and writing for publication. Students will gain hands-on experience in conducting independent research projects.
Project-Based Learning Philosophy
The Economics program at Madhav University Sirohi emphasizes project-based learning as a core component of the educational experience. This approach ensures that students develop practical skills and apply theoretical knowledge to real-world problems. The program includes both mini-projects and a final-year thesis, with each phase offering distinct benefits.
Mini-Projects
Mini-projects are assigned during the third and fourth semesters to give students early exposure to research methodologies and collaborative work. These projects typically last one semester and involve small teams working under faculty supervision. Students choose topics aligned with their interests or industry trends, ensuring relevance and engagement.
Final-Year Thesis/Capstone Project
The final-year thesis is a significant undertaking that allows students to conduct original research in their chosen specialization. Students select a topic in consultation with faculty mentors, design a research plan, collect data, perform analysis, and present findings in a formal thesis. The project is supervised throughout by an assigned mentor and evaluated based on methodology, depth of analysis, clarity of writing, and presentation skills.
Project Selection Process
The process for selecting projects begins early in the program, with faculty members offering research topics aligned with current economic challenges or policy debates. Students are encouraged to propose their own ideas, subject to approval by mentors. The selection process includes a proposal submission, review by a committee, and final assignment based on student interest and mentor availability.
Evaluation Criteria
Projects are evaluated based on multiple criteria including originality of approach, rigor of methodology, depth of analysis, clarity of presentation, and contribution to existing knowledge. Peer reviews and feedback from mentors are integral components of the evaluation process, ensuring continuous improvement in research quality.