Curriculum Overview
The Economics program at Universal Ai University Maharashtra is meticulously structured to ensure a comprehensive understanding of both classical and contemporary economic principles. The curriculum spans eight semesters, with each semester designed to progressively build upon the previous one, integrating theoretical foundations with practical applications.
| Semester | Course Code | Course Title | Credit (L-T-P-C) | Prerequisites |
|---|---|---|---|---|
| 1 | ECON101 | Principles of Microeconomics | 3-1-0-4 | None |
| 1 | ECON102 | Principles of Macroeconomics | 3-1-0-4 | None |
| 1 | MATH101 | Calculus and Linear Algebra | 4-0-0-4 | None |
| 1 | STAT101 | Introduction to Statistics | 3-1-0-4 | None |
| 1 | ECO101 | Introduction to Economic History | 3-1-0-4 | None |
| 2 | ECON201 | Intermediate Microeconomics | 3-1-0-4 | ECON101 |
| 2 | ECON202 | Intermediate Macroeconomics | 3-1-0-4 | ECON102 |
| 2 | MATH201 | Differential Equations | 3-1-0-4 | MATH101 |
| 2 | STAT201 | Econometrics I | 3-1-0-4 | STAT101 |
| 2 | ECO201 | Public Finance and Taxation | 3-1-0-4 | ECON102 |
| 3 | ECON301 | Advanced Microeconomics | 3-1-0-4 | ECON201 |
| 3 | ECON302 | Advanced Macroeconomics | 3-1-0-4 | ECON202 |
| 3 | MATH301 | Probability and Stochastic Processes | 3-1-0-4 | MATH201 |
| 3 | STAT301 | Econometrics II | 3-1-0-4 | STAT201 |
| 3 | ECO301 | Development Economics | 3-1-0-4 | ECON202 |
| 4 | ECON401 | Behavioral Economics | 3-1-0-4 | ECON301 |
| 4 | ECON402 | Financial Economics | 3-1-0-4 | ECON302 |
| 4 | MATH401 | Numerical Methods in Economics | 3-1-0-4 | MATH301 |
| 4 | STAT401 | Time Series Analysis | 3-1-0-4 | STAT301 |
| 4 | ECO401 | Environmental Economics | 3-1-0-4 | ECON302 |
| 5 | ECON501 | Data Analytics in Economics | 3-1-0-4 | STAT401 |
| 5 | ECON502 | International Trade Theory | 3-1-0-4 | ECON302 |
| 5 | MATH501 | Optimization Techniques | 3-1-0-4 | MATH401 |
| 5 | STAT501 | Advanced Econometrics | 3-1-0-4 | STAT401 |
| 5 | ECO501 | Public Policy Evaluation | 3-1-0-4 | ECON402 |
| 6 | ECON601 | Machine Learning for Economists | 3-1-0-4 | ECON501 |
| 6 | ECON602 | Globalization and Economic Integration | 3-1-0-4 | ECON502 |
| 6 | MATH601 | Computational Economics | 3-1-0-4 | MATH501 |
| 6 | STAT601 | Simulation and Modeling | 3-1-0-4 | STAT501 |
| 6 | ECO601 | Regional Development Policies | 3-1-0-4 | ECON501 |
| 7 | ECON701 | Research Methods in Economics | 3-1-0-4 | ECON601 |
| 7 | ECON702 | Thesis Preparation | 0-0-0-4 | ECON701 |
| 8 | ECON801 | Final Year Thesis | 0-0-0-6 | ECON702 |
Advanced Departmental Electives
The program offers a rich array of advanced departmental electives that allow students to explore specialized areas within economics. These courses are taught by internationally recognized faculty members and are designed to provide in-depth knowledge in emerging fields.
- Machine Learning for Economists: This course introduces students to machine learning algorithms and their applications in economic modeling. Topics include supervised and unsupervised learning, neural networks, and data mining techniques used in finance, marketing, and public policy.
- Data Analytics in Economics: Students learn how to apply advanced statistical methods to large datasets, using tools like Python, R, and SQL. The course emphasizes real-world applications such as predicting market trends, analyzing consumer behavior, and evaluating policy impacts.
- Behavioral Economics: This elective explores the intersection of psychology and economics, examining how cognitive biases and social influences affect decision-making. Students study topics like loss aversion, framing effects, and nudging techniques used in public policy.
- Financial Economics: The course covers asset pricing models, portfolio theory, risk management, and derivatives markets. Students gain hands-on experience with financial instruments and learn how to evaluate investment strategies using modern financial tools.
- Environmental Economics: This course examines the economic aspects of environmental issues such as climate change, pollution control, and natural resource depletion. Students analyze policy solutions and assess the economic costs and benefits of environmental regulations.
- Public Policy Evaluation: Designed to equip students with skills in designing and evaluating public policies, this course uses case studies from government programs and non-profit organizations to illustrate key concepts in policy analysis.
- Globalization and Economic Integration: This course explores the dynamics of international trade, foreign direct investment, and regional economic integration. Students examine the impact of globalization on developing countries and analyze current trade policies.
- International Trade Theory: Students study classical and modern theories of international trade, including comparative advantage, factor endowments, and trade policy. The course also covers topics like trade agreements, tariffs, and the role of multilateral institutions in global commerce.
- Regional Development Policies: This elective focuses on strategies for promoting economic growth in underdeveloped regions. Students analyze successful development initiatives and assess their impact on local economies.
- Thesis Preparation: This course guides students through the process of selecting a research topic, formulating hypotheses, collecting data, and writing a thesis proposal. It includes sessions on academic writing, presentation skills, and ethical considerations in economic research.
Project-Based Learning Structure
The Economics program emphasizes project-based learning to ensure that students develop practical skills and apply theoretical knowledge in real-world contexts. The curriculum includes mandatory mini-projects and a final-year thesis that allow students to explore areas of personal interest while contributing to the field of economics.
Mini-projects are undertaken in the third and fourth years, where students work individually or in small groups on research topics related to their specializations. These projects are supervised by faculty mentors who provide guidance on methodology, data collection, and analysis. Students are encouraged to collaborate with external organizations and conduct fieldwork when possible.
The final-year thesis is a capstone experience that requires students to complete an original research project under the supervision of a faculty advisor. The thesis must demonstrate mastery of economic theory, analytical skills, and the ability to communicate complex ideas effectively. Students present their findings in a seminar format and are evaluated based on the quality of their research, presentation, and critical thinking.
Students select their projects through a structured process that involves identifying areas of interest, reviewing existing literature, and consulting with faculty members. The department provides resources such as databases, software licenses, and access to real-time data sources to support student research efforts.