On completion of the course students would be able to:
1. Understand the fundamentals of microeconomics; identify the basic forces that determine equilibrium in a market economy; understand the framework for learning about consumer behaviour and analysing consumer decisions.
2. Differentiate between perfect and imperfect market structure; understand how profit maximizing firm works and analyse monopoly and government policies towards monopoly.
3. Understand how input market works; and illustrate the marginal productivity theory of distribution.

Upon completion of the course the students would be able to:
1. Provide a clear explanation of the set theory and set operations, functions and their graphical presentation and various concepts related to function.
2. Use appropriate techniques to solve economic problems with calculus.
3. Apply differential equation to analyse dynamic stability of markets.

On completion of the course students would be able to:
1. Understand the fundamentals of microeconomics; identify the basic forces that determine equilibrium in a market economy; understand the framework for learning about consumer behaviour and analysing consumer decisions.
2. Differentiate between perfect and imperfect market structure; understand how profit maximizing firm works and analyse monopoly and government policies towards monopoly.
3. Understand how input market works; and illustrate the marginal productivity theory of distribution.

On completion of the course students would be able to:
1. Define and explain the process of calculating national income, identify its components and demonstrate circular flow of income; illustrate the meaning and functions of money, demonstrate different versions of the quantity theory of money and various approaches to the demand for money; explain the process of credit creation.
2. Illustrate the meaning, types, causes and effects of inflation; explain the concepts of deflation, hyper-inflation and analyse different phases of trade cycle.
3. Understand Say‟s law of market, classical theory of employment; demonstrate the principle of effective demand and income determination and the determination of equilibrium income and interest rate with the help of IS-LM model.

Upon completion of the course the students would be able to:
1. Use difference equation and linear algebra to solve economic problems; understand economic application of differential calculus and perform calculus operations.
2. Perform unconstrained optimization and its economic application in case of discriminating monopoly.
3. Perform constrained optimization using Lagrange characterization and its application to economic problems.

On completion of the course students would be able to:
1. Define and explain the process of calculating national income, identify its components and demonstrate circular flow of income; illustrate the meaning and functions of money, demonstrate different versions of the quantity theory of money and various approaches to the demand for money; explain the process of credit creation.
2. Illustrate the meaning, types, causes and effects of inflation; explain the concepts of deflation, hyper-inflation and analyse different phases of trade cycle.
3. Understand Say‟s law of market, classical theory of employment; demonstrate the principle of effective demand and income determination and the determination of equilibrium income and interest rate with the help of IS-LM model.

On completion of the course students would be able to :
1. Explain the theory of consumer behaviour; utility maximization and expenditure minimization, demonstrate the decomposition of price effect into income and substitution effect and illustrate the revealed preference theory.
2. Understand the theory of producer‟s behaviour; explain isoquant and its properties; demonstrate the law of variable proportions and identify different production functions.
3. Identify different types of cost and illustrate the properties of cost functions; explain the behaviour of short-run and long –run cost curves; illustrate the concept of economics of scale and economies of scope and understand how perfectly competitive market works.

On completion of the course students would be able to :
1. Explain the meaning of consumption function, relationship between APC and MPC, consumption and income, analyse the theories of absolute and relative income hypotheses.
2. Understand the relationship between investment and saving, demonstrate investment multiplier, and understand the meaning of MEC and MEI; analyse the relationship between inflation and unemployment.
3. Understand the macroeconomics of open-economy; analyse macroeconomic models; explain the concept of balance of payments and narrate the factors causing disequilibrium in balance of payments and illustrate various approaches to adjustment of BoPs.

On completion of the course students would be able to :
1. Describe the concept of statistical averages, use and apply central tendency, dispersion, skewness, and kurtosis.
2. Demonstrate the basic concept of probability, theoretical distribution, probability theorems; solve probability problems by applying probability concept; illustrate the concept of random variable and explain the properties of various theoretical distributions.
3. Explain concept of correlation, analyze and interpret covariance and correlation coefficient, illustrate ordinary least squares and use it to estimate regression coefficient.

On completion of the course students would be able to :
1. State the major trends in economic indicators in India in the post-independence period.
2. Compare India‟s development experience with selected high-performing Asian economies.