Indian Institute of Technology Delhi or popularly known as IIT D, was established to be Centres of Excellence for training, R&D in science, engineering and technology in India. It was established in the year 1961 and was named as College of Engineering that time. It was in 1963 that the Institute was declared as an Institution of National Importance under the “Institutes of Technology (Amendment) Act, 1963” and was accrodingly renamed as Indian Institute of Technology Delhi.
IIT Delhi have been offering courses in different domains like Engineering, Physical Sciences, Management and Humanities & Social Sciences.
About IIT Delhi Economics Department
IIT Delhi offers a 2 year full-time programme in Master of Science in Economics or MSc Economics. The course curriculum focuses on foundations in core economic theory and students can also choose fields of specialization in core economics and emerging fields in the intersection of economics with other social sciences, as well as with computer science and mathematics. During the course, students also get hands-on expertise in data analytics as well. In terms of course structure, the course has a strong research component with two semesters long research project and writing the final dissertation.
There are total 25 seats at IIT Delhi for pursuing MSc Economics Course. However, for the year 2023 academic session they are accepting admission for additional 15 seats. The admission for the 25 seats to IIT Delhi MSc Economics is taken via IIT JAM Economics Entrance Exam and for additional 15 seats it will be done by a separate entrance exam.
IIT Delhi MSc Economics Exam Date
IIT Delhi MSc Economics Test will be conducted on 30th June 2023
IIT Delhi MSc Economics Number of seats
There are 15 seats via this additional mode or separate entrance test.
IIT Delhi MSc Economics Exam Pattern
Multiple choice Questions MCQ Only
IIT Delhi MSc Economics Admit Card
For Admit Card Download - Admit Card
IIT Delhi MSc Economics Duration
IIT Delhi MSc Economics Exam will of 3 Hours or 180 Minutes as per the details shared.
IIT Delhi MSc Economics Timing
IIT Delhi MSc Economics Written Exam timing is 10 am to 1 PM June 30, 2023. Still request you to kindly refer to your Call letter or any other document provided by them.
IIT Delhi MSc Economics Interview
For admission to IIT Delhi MSc Economics Course, there is NO INTERVIEW and the admission process completes with the written examination.
IIT Delhi MSc Economics Sample Paper
You can refer to IIT JAM Economics Past Year Solutions as no sample is provided
IIT Delhi MSc Economics Mock Paper
For Mock Papers, you can refer to the Mock Papers ArthaPoint provided.
IIT Delhi MSc Economics Syllabus
Microeconomics
Consumer theory: Preference, utility and representation theorem, budget constraint, choice, demand (ordinary and compensated), Slutsky equation, revealed preference axioms.
Theory of production and cost: Production technology, isoquants, production function with one and more inputs, returns to scale, short run and long run costs, cost curves in the short run and long run.
General equilibrium and welfare: Equilibrium and efficiency under pure exchange and production, welfare economics, theorems of welfare economics.
Market structure: Perfect competition, monopoly, pricing with market power, price discrimination (first, second and third), monopolistic competition and oligopoly.
Game theory: Strategic form games, iterated elimination of dominated strategies, Nash equilibrium, mixed extension and mixed strategy Nash equilibrium, examples: Cournot, Bertrand duopolies, Prisoner's dilemma.
Public goods and market failure: Externalities, public goods and markets with asymmetric information (adverse selection and moral hazard).
Macroeconomics
Preference National income accounting: Structure, key concepts, measurements, and circular flow of income- for closed and open economy, money, fiscal and foreign sector variables -concepts and measurements.
Behavioural and technological functions: Consumption functions - absolute income hypothesis, life-cycle and permanent income hypothesis, random walk model of consumption, investment functions - Keynesian, money demand and supply functions, production function.
Business cycles and economic models (closed economy): Business cycles-facts and features, the Classical model of the business cycle, the Keynesian model of the business cycle, simple Keynesian cross model of income and employment determination and the multiplier (in a closed economy), IS-LM Model, Hicks' IS-LM synthesis, role of monetary and fiscal policies.
Business cycles and economic models (open economy): Open economy, Mundell-Fleming model, Keynesian flexible price (aggregate demand and aggregate supply) model, role of monetary and fiscal policies.
Inflation and unemployment: Inflation - theories, measurement, causes, and effects, unemployment - types, measurement, causes, and effects.
Growth models: Harrod-Domar, Solow and Neo-classical growth models (AK model, Romer model and Schumpeterian growth model)
Statistics For Economics
Probability theory: Sample space and events, axioms of probability and their properties, conditional probability and Bayes' rule, independent events, random variables and probability distributions, expectation, variance and higher order moments, functions of random variables, properties of commonly used discrete and continuous distributions, density and distribution functions for jointly distributed random variables, mean and variance of jointly distributed random variables, covariance and correlation coefficients.
Mathematical statistics: Random sampling, types of sampling, point and interval estimation, estimation of population parameters using methods of moments and maximum likelihood procedures, properties of estimators, sampling distribution, confidence intervals, central limit theorem, law of large number.
Hypothesis testing: Distributions of test statistics, testing hypotheses related to population parameters, Type I and Type II errors, the power of a test, tests for comparing parameters from two samples.
Correlation and regression: Correlation and types of correlation, the nature of regression analysis, method of Ordinary Least Squares (OLS), CLRM assumptions, properties of OLS, goodness of fit, variance and covariance of OLS estimator.
Mathematics For Economics
Preference Preliminaries and functions: Set theory and number theory, elementary functions: quadratic, polynomial, power, exponential, logarithmic, functions of several variables, graphs and level curves, convex set, concavity and quasiconcavity of function, convexity and quasi-convexity of functions, sequences and series: convergence, algebraic properties and applications, complex numbers and its geometrical representation, De Moivre's theorem and its application.
Differential calculus: Limits, continuity and differentiability, mean value theorems, Taylor's theorem, partial differentiation, gradient, chain rule, second and higher order derivatives: properties and applications, implicit function theorem, and application to comparative statics problems, homogeneous and homothetic functions: characterisations and applications.
Integral calculus: Definite integrals, fundamental theorems, indefinite integrals and applications.
Differential equations, and difference equations: First order difference equations, first order differential equations and applications.
Linear algebra: Matrix representations and elementary operations, systems of linear equations: properties of their solution, linear independence and dependence, rank, determinants, eigenvectors and eigenvalues of square matrices, symmetric matrices and quadratic forms, definiteness and semidefiniteness of quadratic forms.
Optimization: Local and global optima: geometric and calculus-based characterisations, and
applications, multivariate optimization, constrained optimization and method of Lagrange multiplier, second order condition of optima, definiteness and optimality, properties of value function: envelope theorem and applications, linear programming: graphical solution, matrix formulation, duality, economic interpretation.
IIT Delhi MSc Economics Queries or Help
Contact Number : +91 11 2659-1371
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