Module 3: Introduction to Matrices Types of matrices, operations on matrices, determinants, eigen values and eigen vectors, quadratic forms:

definite and semi-definite forms, economic applications (primal and dual in LPP), elementary differential and difference equations Module 4: Static Optimization First and second order conditions for local interior optima, (Unconstrained local global theorem), concavity and uniqueness, sufficient conditions for unique global optima, constrained optimization with Lagrange multipliers, second order conditions, sufficient conditions for optima with equality constraints, inequality constraints, Kuhn Tucker conditions, Envelope Theorem, duality, calculus of variations and the Euler equation, Elements of dynamic optimization: the Hamiltonian Module 1 Recent trends in important macro-economic variables (Population, GDP, SDP, Tax Revenue, Fiscal Deficits, Money Supply, Credit, Inflation, Exports/Imports, FDI, Employment) - Important ratios Regional variations (where relevant) Sectoral aspects. Module 2 State of Infrastructure Physical Infrastructure Transport (roads, railways, waterways, aviation), Energy, Telecommunication, IT Social Infrastructure Health and Education Technology and R&D Module 3 Recent trends in the state of social aspects of India Economy Human development Index Rural-Urban divide Poverty Index Child labour Informal sector Gender aspects Natural Resources - Environmental aspects. Regional variations. Module 4 Globalization, Economic reforms and Governance - Decentralization State and Local Governments WTO and GATT Federalism

Module 3: The Competitive Firm (partial equilibrium) Excess demand function and existence of equilibria, stability, modeling of expectations, derivation of long run and short run supply curves, classical model of the equilibrium of the firm, optimal size of the firm, criticism of the classical model Module 4: Perfect Competition, Walrasian General Equilibrium in a Pure Exchange Economy Excess demand function and its properties, ttonnement process and the proof of existence of general equilibrium (using Brouwer s fixed point theorem), core and equilibria, the first and the second fundamental theorem of welfare economics, market failures and externalities, second best theorem.

Module 3: Open-Economy Macroeconomics (12 Sessions) Balance of Payments Exchange Rate Regimes Mundell-Fleming Model under Fixed and Flexible Exchange Rates Exchange Rate Overshooting Purchasing Power and Interest Rate Parities Automatic Adjustment Adjustment Policies: External versus Internal Balance Module 4: Micro-foundations of Macroeconomic Relationships (12 Sessions) Consumption Analysis: Permanent Income and Life-Cycle Hypotheses Consumption under Uncertainty Savings in Inter-temporal Models Investment Functions: Neo-Classical and Keynesian Money Demand Money Supply Process: Money Multiplier