Ph D admission in I SEM 2016-17
Department of Economics & Finance, BITS, Pilani, Hyderabad Campus
Ph D admission in I SEM 2016-17 : click here for details.
NOTE : This is a tentative list. The Contents (and Sub Areas) may be revised from time to time. Candidates are requested to please check which Sub Areas are available and the detailed Contents at the time of applying to write the Qualifying Exam.
List of Sub Areas proposed to offered by Dept. of Economics & Finance at Hyderabad campus
Macroeconomics
Content A
Systems of national accounts; input-output systems; flow of fund systems; monetary circulation and exchange; basic model of income determination; classical macroeconomic models; obstacles of full employment; Keynes model, derivation of IS-LM functions; three sector model; four sector model; inflation and Phillips curve; real business cycles and new Keynesian economics; monetary policy, fiscal stabilization policy; consumption hypothesis; absolute income hypothesis, permanent income hypothesis, life-cycle income hypothesis, relative income hypothesis, investment models; money supply and money demand.
Content B
Overview of the financial system, interest rate and their role in valuation, fluctuation in interest rate, risk and term structure of interest rate, rational expectation and efficient market hypothesis, central banking and the conduct of monetary policy, money supply and credit creation, monetary transmission mechanisms, fundamentals of financial institutions, banking and management of financial institutions, commercial banking industry, risk management in financial institutions, credit risk, analysis of various financial and economic crisis.
Microeconomics and Industrial Economics
Content A
Consumer behavior; production function and linear programming applications, derivation of cost and supply functions, markets and market structures. Commodity pricing under imperfect market structures, factor pricing, multimarket equilibrium, optimization over time, welfare optimization, game theory applications, industrial organization.
Content B
Methodological and theoretical introduction into the tools, methods and approaches used in industrial economics; the firm and the agency relations within business organizations; concentration, mergers and entry barriers; review of game theoretic concepts; nature of markets; imperfect competition in static and dynamic settings; theoretical and empirical studies of collusion and cartels, monopolistic behaviour, vertical integration and determinants of market structure.; industrial policy and efficiency analysis, including government regulation and natural monopolies reforms with examples and applications. Market structure and strategic interaction; oligopolistic behaviour models; entry costs, market structure and welfare; pricing tactics: discriminatory pricing; non-price competition, product-differentiation and advertising ; marketing tactics: bundling, upgrading and dealership; vertical restraints; research and development; empirical studies on structure-conduct-performance relationship; empirical studies on market performance; competition policy and regulation.
Public Finance and Policy
Content A
Role of Government in modern economy, Theory of Public good and public choice; public goods and externalities, equity in distribution, Public Expenditure and Macro-economy: Determining optimal size of government, financing of public expenditure, debt versus tax financing, impact of public expenditure on the level and composition of output and employment, Government budget and cost benefit analysis, Taxation; Direct and Indirect taxes, efficiency and equity, tax incidence, models of taxation incidence, theory of optimal taxation, recent developments in theory of taxation, evolution of tax structures, tax evasion and avoidance, designing of modern tax system, reforms in direct and indirect taxes, value added tax, fiscal federalism, designing optimal government expenditure policy; Fiscal Policy Issues: Budget deficit and public debt, interdependence of fiscal and monetary policies, theory of inter-governmental transfers, theory and policy of subsidies, theory of fiscal federalism, issues of equity and efficiency, role of planning and finance commission, goods and services tax in India, new direct tax code, role of central and state FRBMs.
Content B
Introduction to of economic analysis; economic tools in valuing outcomes; measuring outcomes in policies and programme; policy making; the market and the public policy, policy framework and regulation, market and government issues, distribution and policy analysis; applications in tax policies, welfare policies, government policies relating to contracting, health, education, labour and employment, energy policy, competition policy, gender, rural-urban development, food security, climate change, infrastructure policy, financial and trade policy, Theoretical and empirical aspects of poverty, inequality and unemployment analysis; Public Policy for Development, Micro finance: Theoretical Aspects and Impact Evaluation, Growth theory models and their empirical applications, Theory of Human Capital and Educational Economics: Their relationship with economic growth.
International Economics
Content A
The international economy; early trade theories; comparative advantage model; neo-classical trade theories; gains from trade; offer curves, terms of trade; Edge-worth box, factor endowments and the Heckscher-Ohlin model; alternative models of trade and intra-industry trade; the imitation-lag hypothesis; product cycle theory; international trade and economic growth; international trade policy; tariff, non-tariff trade barriers, economic integration, international trade and economic development, Basic gravity modeling, New-new trade theories (Firm level trade).
Content B
International factor movements; foreign direct investment and multinational corporations; protection; GATT & WTO; the balance of payments accounts; balance of payments equilibrium; economic policy in the open economy, balance of payment accounting, foreign exchange markets and exchange rates, exchange rate determination, open economy macroeconomics; income and price adjustment mechanisms, adjustment policies.
Applied Econometrics and Quantitative Techniques in Economics and Finance
Content A
Specification of simple linear regression model, least square method of estimation, classical assumptions, general and confidence approach to hypothesis testing. Specification of Models; estimation of single equation economic models and related problems; Auto -correlation, multicollinearity and hetroscadasticity, forecasting and verification; estimation methods and problems in simultaneous equation systems.
Content B
Multiple regression analysis; analysis of generalized linear and nonlinear models; instrumental variables; maximum likelihood, generalized method of moments (GMM), and two step estimation methods; simultaneous equation models; time series processes; identification and estimation of time series models; techniques for assessing model fit; forecasting; time series analysis and models of expectations; univariate time series analysis, stationary vs. non-stationary series; ARIMA, GARCH, VAR, cointegration, granger causality, error correction and limited dependent variable models; auto regressive distributed lagged variable models multivariate time series analysis; dynamic models; analysis of panel data, balanced and unbalanced panel data, mixed, fixed and random effect models.
Corporate Finance
Content A
Concepts and techniques of financial management decision; valuation of a firm's stock; investment in assets and required returns; financing and dividend policies, working capital management, management of cash, management of accounts receivable; inventory management, short and intermediate term financing, financial analysis, financial ratio analysis, funds analysis and financial forecasting, operating and financial leverages. Market for corporate control, Incentives and compensation, Corporate governance.
Content B
concepts in valuation - time value of money; NPV, IRR, project feasibility, budgeting, long term investment decisions, long term financing decisions (LT & ST), capital structure, risk analysis; principles of corporate taxation, income tax, capital gains tax, tax laws and provisions.
Investment Analysis and Management
Content A
Introduction to investment and securities; profile of financial assets; new issue market or primary market, initial public offerings (IPO); secondary market; trading and settlement procedures; listing requirements; framework of risk & return; fundamental analysis-economy, industry; company analysis; stock evaluation models; multiple holding period and multiple growth rate; bond analysis and bond management strategies; mutual funds; technical analysis; efficient market theory; portfolio management; Markowitz model; Sharpe’s Single Index model; capital asset pricing model; financial derivatives options & futures. Arbitrage pricing models, Stochastic discount factor methodology, Behavioral finance.
Content B
Value maximization, stakeholder theory, and corporate objective function: value creation – ways and means, business analysis: The techniques of strategy and competitive analysis, value chain analysis for competitive advantages, business valuation – approaches and methods, the dark side of valuation: strategic investment decisions; SEBI Regulations w r t corporate governance; insider trading; fraudulent and unfair trade practices, and substantial acquisitions & takeovers, Management of banks, Financial Services, Insurance companies; Asset Liability management in banks, Capital Adequacy Norms, Basle regulations on risk capital, Actuarial Science.
Financial Economics and Financial Engineering
Content A
Functions and operations of capital market, analysis of consumption-investment decisions of investors, diversification and portfolio selection, valuation theory and equilibrium pricing of risky assets, theory of efficient markets and investment and financing decisions of the firm. Expected utility theory; stochastic dominance; portfolio frontiers; mutual fund separation; asset pricing model; arbitrage pricing theory; Arrow-Debreu theory; dynamic spanning; options; rational expectations; financial signaling.
Content B
Introduction; Review of Markets, Players, and Conventions; Cash Flow Engineering with Forward Contracts; Engineering Simple Interest Rate Derivatives; Swap Engineering; Report Market Strategies; Dynamic Replication Methods and Synthetics; Mechanics of Options; Options Engineering with Applications; Pricing Tools; Applications of Fundamental Theorem of Finance; Fixed Income Engineering; Tools for Volatility Engineering: Volatility Swaps and Volatility Trading; Engineering of Equity Instruments: Pricing and Replication, computational methods such as Monte Carlo Simulation.
Annexure - 2: Content Descriptions FOUNDATION COURSES in Management
Content - A
Fundamental concepts development of management theory, business forms, (proprietorship etc.); review of managerial functions (planning, organizing, staffing, leading and controlling), fun ctional and strategic areas (Operation/production, Marketing, Finance and Personnel).
Content - B
Business communication basics; issue interpretation, reformulation and summation; interviews, questionnaires and forms; presentation techniques; technology and communication; business correspondence; group communication and meetings; employment communication.
SUB AREAS
Finance & Accounting
Content - A
Basic concepts, double entry accounting, journal, ledger, trial balance, profit & loss account, bal ance sheet, cash flow statement, financial statement analysis, ratio analysis, cost - volume - profit analysis, inventory valuation, inflation accounting, cost accounting and budgetary control systems, financial analysis and forecasting.
Content - B
Role a nd environment of managerial finance, time value of money (NPV, IRR), project feasibility, budgeting, long term investment decisions, long term financing decisions (LT & ST), capital structure, dividend decisions, short term financing decisions, working ca pital management, principles of corporate taxation, income tax, capital gains tax, tax laws and provisions, financial engineering.
Marketing
Content - A
Definition, marketing research and forecasting demand, creating customer value, satisfaction and loyalty, analysing consumer and business markets, market segmentation, brand equity, brand positioning, product and pricing strategies, managing services, managing value networks and channels, integrated marketing communications, international marketing, retail management, behavioral marketing, digital and internet marketing, building ecosystems for business, such as lobbying.
Content - B
An examination of the concepts and practical methodology used in marketing research. An overview of marketing research process, with emphasis on research design; data instrument design; questionnaire formulation; sampling plans; data collecti on methods - interviewing, panels; data analysis and use of computer based information systems for marketing intelligence. Also Time - series & Regression based models of sales forecasting, control and evaluation of marketing function and survey methodology a re covered. Emphasis will be on cases and research projects.
Organizational Behavior & Human Resource Management
Content - A
Evolution and relevance; perception emotions and learning in an organizational set up; attitudes and values, groups and group processes, leadership, power and politics, organizational change, resistance and development, managing conflict. Motivation, Organizational Development, Managing Work Stress, Managing Work-life Balance, Diverse workforce and Cross Cultural Management, Organizational Citizenship Behavior, Employee engagement, Attrition, Personality.
Content - B
Strategic human resource management, manpower planning, job analysis, recruitment and selection, placement, induction, training and development, appraising and managing performance, compensation, employee discipline, workplace safety and health, collective bargaining, industrial relations, human resource accounting and audit. Human Resource Information System, Human Capital Management, Talent Management, Knowledge Management.
Operations Management & Decision Science
Content - A
Product & service design, plant location, aggregate planning, capacity, process, layout, sequencing & scheduling, line balancing, maintenance, quality (control, assurance, management), statistical quality control, queuing theory, project management ( CPM, PERT ) .
Content - B
Grouping data, measures of central tendency and dispersion, probability distribution, sampling and estimation, testing hypotheses, chi - square and analysis of variance, regression and correlation, non - parametric methods, time series and forecasting, index numbers, decision theory, linear programming, transportation and assignment problems, queuing theory, network problems, simulation; application of statistical software (SYSTAT, SPSS, SIMULA8, etc.) and spreadsheets.
Information Technology &Technology Management
Content - A
Introduction to Information Systems; Concepts of management, concepts of information, systems concepts; Information Systems and Organizations; decision making process; database systems; data communications; planning, desi gning, developing and implementing information systems; quality assurance and evaluation of information systems; future developments and their organizational and social implications; decision support system and expert systems.
Content - B
Concept of technology, nature of technological change, economics of technology, corporate technology strategy, analysis for technology strategy, adoption and management of new technology, accounting for technology, appropriate technologies, transfer of technology, influence of government policies on technology, technology, management for sustainable development.
Strategy & Entrepreneurship
Content - A
Mission, vision, strategic intent, hierarchical levels of strategy, PEST analysis, SWOT analysis, industry analysis, organizational analysis, BCG matrix, GE matrix, core competencies, five force theory, value chain, competitive advantage, generic strategies, diversification, strategy implementation and control.
Content - B
Fundamentals of entrepreneurship; elements o f leadership; identifying business opportunities; market study and research; business plans; finance, issues in raising finance; venture capitalist evaluation of business plans, technical aspects for the project, corporate strategies for growth; legal aspect to entrepreneurship, people skills, marketing and branding; creativity and communication.