BA (Honors) Economics Programme at IILMU, is a full-time, three-year, undergraduate programme aimed at preparing young graduates for higher studies, employability and to nurture their intellectual, personal, interpersonal, and societal skills. We aim to acquaint students with the economic aspects of modern society, to familiarize them with techniques for the analysis of contemporary economic problems, and to develop in them an ability to exercise judgment in evaluating public policy in terms of the economy at large.
This programme is aligned to IILM University’s ethos that gives the students freedom of choice whereby they can pick up disciplines from multiple verticals. This helps them specialize in two areas of their choice (major and minor) adding to their employability quotient. Being part of this programme students will have the benefit of pursuing liberal arts and design courses such as Psychology, Design Fundamentals, Material Manipulation, and much more.
The pedagogy that we follow is a combination of theory and practical sessions that are equally interactive and engaging. The student learns through live business and economy-wide case studies, experiential learning and exposure to various analytical tools like R, SPSS, etc. The goal of our curriculum is to help students develop an understanding of how individuals, organisations and societies make the choices that determine how an economy’s scarce resources are allocated among alternative uses and the consequences of those decisions.
The programme teaches:
- How economists use data and empirical methods to measure economic outcomes and test competing theories.
- What is the role of public policy in addressing economic problems and an ability to evaluate economic policy proposals and debates.
- How to effectively apply the theoretical tools and empirical methods used by economists to analyze real-world phenomena.
- How to pursue independent economic research driven by their interests, and to assist faculty with their research.
Summer Internship is an integral part of the curriculum at IILM. Economics curriculum requires students to pursue internships for 6-8 weeks summer internship / live projects to make the students future prepared and job-ready providing hands-on experience to the students with demands of the professional world in terms of knowledge, skill and attitude to perform effectively. The first internship is with partner NGOs and the second internship is with industries.
The skills learnt from Economic courses opens wide of range of opportunities and fulfilling careers ranging from government and non-profit jobs to business and teaching. In the age of technology, data plays a pivotal role, and analysing the same for decision making makes students of economics a hot cake in the market. Jobs such as operations/data analyst, business analyst, pricing analyst, financial analyst and market research analyst have endless opportunities and growth.
Yet another job for students of economics is the role of an Economist, who study and predict the distribution, production and rationalise outcome for organisations. Students who are more interested in deeper learning may find research and teaching more rewarding. With a PhD in economics, students can become a professor and pass new valuable knowledge down to generations of students. With the understanding of economics, one can even start their own business.
Curriculum at a glance
Apart from the typical mandatory courses like microeconomics, macroeconomics, statistics, and history of economic thought, the students of economics will get a flair to a gamut of application and practical based courses using data analysis techniques such as environmental and resource economics, financial economics, behavioural economics, actuarial economics, etc.
- Introductory Microeconomics
- Introduction to Management
- Introduction to world politics (History)
- Introduction to Excel and Computing
- Critical thinking
- Communication Skill
- Environmental Studies and SDG
- Introductory Macroeconomics
- Mathematical Economics
- Introduction to Psychology
- Politics of society (Sociology)
- Introduction to Art and Culture
- Academic Writing
- Foreign Language – I
- Summer Internship
- Intermediate Microeconomics
- Introductory Econometrics
- Money and Banking
- Minor Course – I
- Minor Course – II
- Foreign Language – II
- Introduction to Public Finance
- Intermediate Macroeconomics
- International Economics
- Research Methods
- Minor Course – III
- Minor Course – IV
- Summer Internship
- Applied Econometrics
- Development Economics
- Elective I
- Elective II
- Elective III
- Minor Course – V
- Elective VI
- Minor Course – VI
Candidate has to be successfully qualified with minimum of 50 percent in the examination of 10+2 or equivalent pattern in Science/Commerce/Arts. However, candidates with the right attitude and willingness to learn will be preferred. The selection will be based on the case solving and interview to assess the basic understanding of Logical Reasoning and Indian Economic Issues.