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Undergraduate Programme in Economics

The undergraduate programmes in Economics at Ashoka University are designed to provide students with a sound understanding of the principles of economics. Students will master a set of tools that will enable them to think critically and contribute to debates on a wide array of interesting problems and issues of public policy.

Although the primary focus of study will be on economics, students will be exposed to ideas and techniques from many other disciplines through the Foundation courses in other disciplines such as History, Sociology, Literature, and Politics. Students will also be taught the quantitative techniques in Mathematics and Statistics that have become an integral part of modern economic analysis.

We are confident that students will imbibe the skills necessary to enter a wide range of careers. Some will go on to further studies in Economics. Some others may wish to work as professional economists in the private or the public sector.

The department recommends that students complete mathematics in Classes 11 and 12 to be eligible for any economics-related major or minor. This includes the pure Economics major and Economics-related Interdisciplinary majors, such as Economics and Finance; Economics and Public Policy; Politics, Philosophy, and Economics; and Economics and History. Students meeting this requirement are automatically eligible for all economics-related majors or minors.

For students who have not studied mathematics in Classes 11 and 12 to be eligible for any economics-related major or minor, they need to:

a) Take MAT 1000: Calculus (a 1000-level course) offered by the Mathematics department in their first semester and

b) Secure at least an A- to be eligible

Note, there may be an entry test requirement for MAT 1000 which will be set by the Maths department. Please check the mathematics department website for more details. 

Structure and Curriculum

Ashoka University’s Economics programs are taught by faculty members who hold expertise in Game Theory, Behavioural Economics, Experimental Economics, Macroeconomics, Microeconomics and much more. The faculty combines superb teaching with focused research. 

  • Economics Major Requirements

    The credit requirements for the Economics major are listed below.

    4-year NEP Programs: For students admitted to Ashoka in 2022/23 and beyond:

    • Undergraduate batches admitted in 2022 and later will fall within the 4-year NEP Programs. The details are here. For students admitted before 2022, the three-year UG + ASP structure holds.
    • Here are the descriptions of both compulsory and elective economics courses from recent semesters.

    For students admitted to Ashoka in 2020 and 2021:

    • Foundation Courses: one must take eight (8) foundation courses and one (1) ICT.
    • Compulsory courses in Economics: these include nine (9) courses — Introduction to Economics, Mathematics for Economics, Microeconomic Theory I, Macroeconomic Theory I, Statistics for Economics, Microeconomic Theory II, Macroeconomic Theory II, Econometrics, and Development Economics.
    • Elective courses in Economics: one must take six (6) elective courses in Economics from a set of courses to be offered in the 5th and the 6th semesters.

    For students admitted to Ashoka in 2018-2019:

    • Foundation Courses: one must take eight (8) foundation courses and one (1) ICT.
    • Compulsory courses in Economics: these include nine (9) courses — Introduction to Economics, Mathematics for Economics, Microeconomic Theory I, Macroeconomic Theory I, Statistics for Economics, Microeconomic Theory II, Macroeconomic Theory II, Econometrics, and Development Economics.
    • Elective courses in Economics: one must take six (6) elective courses in Economics from a set of courses to be offered in the 5th and the 6th semesters.

    For students admitted to Ashoka in 2018:

    • Students from this batch need to take 6 FCs.
    • Critical Thinking Seminars: students from this batch must take 1 ICT and 1 CTS.
    • Compulsory courses in Economics: same as current.
    • Elective courses in Economics: same as current.

    For students admitted to Ashoka in 2017:

    • To fulfill requirements for an Economics Major, students from this batch need to take 6 FCs, if they have taken “Indian Civilisations”. If not, they need to take 7 FCs.

     

  • Minor Requirements

    For a student to Minor in Economics, one must have studied mathematics in Classes 11 and 12.

    4-year NEP Programs: For students admitted to Ashoka in 2022/23 and beyond:

    Undergraduate batches admitted in 2022 and later will fall within the 4-year NEP Programs. The details are here. For students admitted before 2022, the three-year UG + ASP structure holds.

    For students admitted to Ashoka in 2017-2021: Students must take the following economics courses:

    1. Introduction to Economics
    2. Maths for Economics
    3. Microeconomic Theory I
    4. Macroeconomic Theory I

    In addition to the above requirement, students completing the minor in Economics must also take either of these two combinations: Statistics and Econometrics OR Microeconomic Theory II and Macroeconomic Theory II.

    For students admitted to Ashoka before 2017: Students will have to do Maths for Economics, Intermediate Microeconomics, Intermediate Macroeconomics, Statistics for Economics, Econometrics and choose one other course from the list of courses offered by the Economics faculty. Mathematics for Economics is offered in the Spring Semester (Jan-April). Statistics for Economics, Intermediate Microeconomics and Intermediate Macroeconomics are offered in the Monsoon Semester (Sep-Dec). Statistics is a prerequisite for Econometrics, which is offered in the Spring Semester (Jan-April).

     

     

     

  • Interdisciplinary Majors Requirements

    The Department of Economics currently offers the following interdisciplinary majors:

    Economics and Finance Economics and Public Policy Politics, Philosophy and Economics Economics and History

     

     

  • Concentration Requirements

    For a student to get a Concentration in Economics, one must have studied mathematics in Classes 11 and 12.

    4-year NEP Programs: For students admitted to Ashoka in 2022/23 and beyond:

    Undergraduate batches admitted in 2022 and later will fall within the 4-year NEP Programs. The details are here. For students admitted before 2022, the three-year UG + ASP structure holds.

    For students admitted to Ashoka in 2017-2021: Students must take four (4) courses. These are Introduction to Economics, Maths for Economics, Microeconomic Theory I and Macroeconomic Theory I. Introduction to Economics and Maths for Economics are offered in the Spring Semester (Jan-April). Microeconomic Theory I and Macroeconomic Theory I are offered in the Monsoon Semester (Sep-Dec).

    Please note that some of the courses have prerequisites. Students have to consult the Faculty coordinator in Economics about what course they should choose in Economics.

     

     

  • Sample Curriculum Structure

    Sample Curriculum Structure for Economics Major (For students admitted in 2022 and later)

    4-year Economics major:

    Semester I Semester II Semester III Semester IV Semester V Semester VI Semester VII Semester VIII
    Introduction to Critical Thinking Foundation Course 4 Foundation Course 6 Foundation Course 7 Foundation Course 8 Economics Elective Course 3 Advanced Microeconomics Economics Elective Course 8
    Foundation Course 1 Foundation Course 5 Statistics for Economics Econometrics Development Economics Economics Elective Course 4 Advanced Macroeconomics Economics Elective Course 9
    Foundation Course 2 Introduction To Economics Microeconomics Theory I  Microeconomics Theory II Economics Elective Course 1 Economics Elective Course 5 Advanced Econometrics Economics Elective Course 10
    Foundation Course 3 Math for Economics Macroeconomics Theory I  Macroeconomics Theory II Economics Elective Course 2 Economics Elective Course 6 Economics Elective Course 7 Economics Elective Course 11

     

    3-year Economics major:

    Semester I Semester II Semester III Semester IV Semester V Semester VI
    Introduction to Critical Thinking Foundation Course 4 Foundation Course 6 Foundation Course 7 Foundation Course 8 Economics Elective Course 3
    Foundation Course 1 Foundation Course 5 Statistics for Economics Econometrics Development Economics Economics Elective Course 4
    Foundation Course 2 Introduction To Economics Microeconomics Theory I  Microeconomics Theory II Economics Elective Course 1 Economics Elective Course 5
    Foundation Course 3 Math for Economics Macroeconomics Theory I  Macroeconomics Theory II Economics Elective Course 2 Economics Elective Course 6

     

    Note :

    • Two additional co-curricular courses can be taken, with a maximum of one  per semester
    • Blue colored boxes: Foundation Course or Critical Thinking Seminar
    • Red colored boxes: Economics Compulsory Courses
    • Peach colored boxes: Economics Elective Courses

Admissions

Joining Undergraduate Programmes

Ashoka University’s department of Economics offers a wide array of undergraduate programmes which imbibe the requisite skills in students to pursue careers in private, public and teaching fields. Students can specialize in financial, managerial, international, industrial or other areas of economics.

Frequently Asked Questions

Foundational courses offered by the Economics department are typically not math intensive. They do not require students to have taken Maths at a higher secondary school level.

Yes, math in 11th and 12th is required for any program in Economics.

Maths for Economics is a specialised course that deals specifically with the mathematical concepts required for Economists. While taking this course would ensure that you are up to date with all the math that one might need for an Economics major, one may also choose to take more general calculus/linear algebra courses offered by the Maths department if one feels it might be beneficial.

The department has a flexible course cap policy which can be changed on the basis of the number of registered students, thus ensuring that every interested student is accommodated. Even if the course cap is reached, if there is a student who needs to do a particular course in order to meet their graduation requirements, they will be manually added to the class. We request you to get in touch with the OAA and the HoD in this regard.

Students having completed certain calculus courses from the Math department may be allowed to substitute them for Maths for Economics. Similarly, MAT201: Probability and Statistics and MAT311: Statistical Inference substitutes for Statistics for Economics. However, before taking any of these courses, it is necessary to inform and seek permission from the HoD.

 

Course caps depend on the course type, the Professor offering that course, and the number of interested students taking that particular course. Introductory level courses typically have a higher cap than electives. However, all course caps are flexible.

You will have to request a waiver for Maths for Econ/ Stats for Econ. Once you get a waiver, you will receive credits for the course.

The specific programming language covered will depend on the faculty. There is an emphasis on STATA in the Econometrics course. R may be taught by some professors. A few elective courses introduce you to MATLAB and the software zTRee as well.

For four-year economics major, the core courses (12 in total) are mandatory and 8 of them are required to be completed in the first two years. The 9th core course, Development Economics, is to be taken in the third year while the remaining 3 core courses are to be taken in the fourth year. The electives can be taken in the third or fourth years. The core courses lay a foundation for the study of Economics, while the electives deep-dive into specific areas of research in the field.

Yes, some Economics courses are cross-listed with Environment Studies. Courses offered by other departments may also be cross-listed with Economics in the future. Please refer to the course list shared by your student representatives for more details on the same.

Yes, the ECON department is not processing requests for crosslists with the ENT department.

Applied Econometrics is an elective. This is distinct from the fourth year compulsory Advanced Econometrics course for which there is no equivalent course as of now. Advanced courses will only be offered next year, Monsoon 25 onwards.

No, you will only receive credits for crosslisted courses if you take the course. TAship credits will only be processed for courses originating from the ECON department. Moreover, for TAship credits under the ECON department, you will receive 2 credits for TP, but these will not count towards your major degree requirements.

On the basis of one’s interests and the availability of the course. It is recommended, at an undergraduate level, to have a mix of Micro and Macro based elective courses instead of specialising in one subfield.

Yes. To reiterate, for a 3-year ECOFIN degree, you must take at least 3 FIN electives out of the 6 electives required for your degree. The other 3 can be ECO or FIN. Similarly, for the 3-year ECOPUB degree, at least 3 out of 6 electives have to be PUB electives, the others can be ECO or PUB. For a 4-year ECOFIN degree, you must take at least 4 FIN electives out of the 8 electives required for your degree. The other 4 can be ECO or FIN. Similarly, for the 4-year ECOPUB degree, at least 4 out of 8 electives have to be PUB electives, the others can be ECO or PUB.

The courses for the major and minor are the same, and are taken by the same Professor. There is no difference in the content, only the number of courses.

A minor consists of 6 courses, while a concentration consists of 4 courses. Which one you prefer depends on the depth you’re looking to achieve in any field – it’s a personal preference.

No, a PPE with a specialisation in Economics and a pure Economics degree are fundamentally different and may not receive equal weightage.

Different PPE tracks have different numbers of courses. A PPE major must do a minimum of 4 courses in each of the disciplines i.e. politics, philosophy and economics, and can do a maximum of 8 in any one discipline. From the perspective of the Economics department, students may choose to do 4, 5, 6, 7 or 8 courses in Economics depending upon their interests. Depending on which track you choose, the courses may be more theory-intensive or quantitative.

ISMs were relevant for the ASP. Under NEP, they have been discontinued.

All OAA policies can be found on MyAshoka under information and documents.

Students may and do choose to take a summer or semester abroad in a variety of universities across the world. Given the rigid structure of the program, the courses to be taken abroad will need to be in sync with the ones required by the department. Before planning, it is necessary to get a clearance from the department (UG coordinator and HOD) with the course description and other relevant information of the intended course.

An Economics major can find employment in a wide variety of fields, including but not limited to research, consultancy, NGO work, policy, banking etc.

It is not mandatory for prospective economics majors at Ashoka to take Calculus in their first semester. The department does not have a policy on the course and does not make any formal recommendations. However, if students feel that the course will be beneficial to them outside of the Eco/Fin program at Ashoka, they are welcome to take it. The recommended/required undergraduate courses for a Master’s in Economics differ by university.

This question is relevant only for non-NEP batches. Yes, you can do so by taking the required courses. However, your UG transcript will not change. You will NOT receive a BSc ecofin degree. Your 3-year UG degree (BA econ) will remain the same, you will get a diploma that specifies your major has been updated during your ASP year.

Study at Ashoka

Study at Ashoka