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Micro Economics

 Theory of Consumer Behaviour
 Theory of Production and Costs
 Decision making under uncertainty Attitude towards Risk
 Game Theory – Non Cooperative games
 Market Structures, competitive and non-competitive equilibria and their
efficiency properties
 Factor Pricing
 General Equilibrium Analysis
 Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
 Welfare Economics: Fundamental Theorems , Social Welfare Function
 Asymmetric Information: Adverse Selection and Moral Hazard

Macro Economics

 National Income: Concepts and Measurement
 Determination of output and employment: Classical & Keynesian Approach
 Consumption Function
 Investment Function
 Multiplier and Accelerator
 Demand for Money
 Supply of Money
 IS – LM Model Approach
 Inflation and Phillips Curve Analysis
 Business Cycles
 Monetary and Fiscal Policy
 Rational Expectation Hypothesis and its critique

International Economics

 International Trade: Basic concepts and analytical tools
 Theories of International Trade
 International Trade under imperfect competition
 Balance of Payments: Composition, Equilibrium and Disequilibrium
and Adjustment Mechanisms
 Exchange Rate: Concepts and Theories
 Foreign Exchange Market and Arbitrage
 Gains from Trade, Terms of Trade, Trade Multiplier
 Tariff and Non-Tariff barriers to trade; Dumping
 GATT, WTO and Regional Trade Blocks; Trade Policy Issues
 IMF & World Bank