Doctor of Philosophy in Arts (Economics)

Semester

I
Advances in Microeconomics
Ph.D./ECO: 11

Advances in Macroeconomics
Ph.D./ECO: 12

Research Methodology in Empirical Economics
Ph.D./ECO: 13

II
Optional Paper I
Optional Paper II

Semester I

(This will run simultaneously with M.Phil. course work)

Paper I : Advances in Micro Economic Theory (50 marks)
Paper II : Advances in Macro Economics (50 marks)
Paper III: Research Methodology in Empirical Economics (50marks)

Ph.D./ECO: 11 Advances in Microeconomic Theory

The one-semester course will have two parts. In the first part, advances in methodology and technique in any one core field from a menu will be taught. The second part of the course will cover applications of such methodology and technique in any one/two relevant sub-fields. These applications will be primarily based on frontier research papers in the chosen sub-field, and may be partly taught and partly self studied. Presentations of research papers self-studied by the students may be encouraged.

Part I: Advances in Methods and Techniques in Microeconomic Theory

Any one core field will be offered from the following menu:

a. Games and Information
b. General Equilibrium Theory
c. Social Choice Theory

Part II: Applications of Advances in Methods and Techniques in Sub-fields

Frontier research papers on any one/two sub-fields from the following menu may be offered:

a. Applications of Games and Behaviour:
i) Contract theory
ii) Auctions
iii) Bargaining
iv) Mechanism design
v) Cooperative games

b. Applications of General Equilibrium Theory
i) Incomplete Markets
ii) International Trade

c. Applications of Social Choice Theory
i) Normative basis of development, poverty and inequality indices
ii) Implementation Theory
iii) Law and Economics

Relevant sub-fields, in addition to the above-mentioned ones, may be chosen by the course instructor before the course commences in a particular academic session.

A proposed marks division and assessment method

• Part II (the applications of methods and techniques in relevant sub-field) should be at least 50% and at most 70% of the course (and of the total marks of 50) as the instructor(s) may decide.
• At least one internal assessment should be held on topics covered in Part I and Part II of the course.
• Internal assessment in the form of presentations of research papers self-studied by the students (on applications) may be encouraged.
• Qualifying or end-semester examination may be based only on Part II of the course.

Suggested Readings for Core Fields:

1. D. Fudenberg and J. Tirole. Game Theory, Cambridge, Mass.: MIT Press, 1991.
2. M.J. Osborne and A. Rubinstein. A Course in Game Theory, Cambridge, Mass.:MIT Press, 1994.
3. A. Mas-Collel, M.D. Whinston and J. R. Green. Microeconomic Theory, New York: Oxford University Press, 1995.
4. A. Sen. Individual Choice and Social Welfare, San Fransisco: Holden Day, 1970.

The course instructor(s) will provide an exhaustive list of suggested readings for the subfields offered by him/her in a particular academic session at the beginning of the course.

Ph.D./ECO:12 Advances in Macroeconomics

In the course, ‘Advances in Macroeconomics’, designed for the Ph.D-M.Phil programme of the Economics Department of Jadavpur University, any one of the following topics will be taught. The topic chosen will be divided into two parts. In the first part, some of the recent seminal contributions in the area will be taught. In the second part, some papers containing extensions and applications of the frameworks developed in the papers taught will be given to the students and they will have to study these papers themselves.Their understanding will be assessed by the teachers concerned the way they think best.

The major areas and the subareas suggested are merely indicative. The teachers are at liberty to use their own discretion and teach an area of their own choice, which may not be in the list specified below.

1. Development Macroeconomics

Inter-linkage between the Real and Financial Sectors
International capital mobility and economic crisis
Issues in fiscal and monetary policies
Unemployment, inequality and poverty

2. Modern Theories of Growth and Distribution

Advances in the theories of endogenous growth
Growth, inequality and poverty traps
Keynesian theories of growth and distribution

3. Theories of Economic Fluctuations

New Keynesian Theories, Quantitative Business Cycles, Financial Accelerator
Theories of Real Business Cycles
Theories of Equilibrium Unemployment

4. International Macroeconomics

Theories of exchange rate and balance of payments
Economics of currency crises and contagion
New Economic Geography

Ph.D./ECO:13 Research Methodology in Empirical Economics

This Course will be divided into two groups.

Group A: Methodology for primary data collection and designing of questionnaire

Group B: Data Analysis

Group C : Quantitative Models : This group will mainly be computer based laboratory teaching. Any two Quantitative Model/Technique from the following list will be offered:

• Advanced Time series Analysis
• Panel Data Analysis
• Stochastic Frontier Model
• Computable General Equilibrium Model
• Data Envelopment Analysis
• Design of Experiments

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