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Bachelor of Science [BS] Programme in Economics
at IIT Bombay
Department of Humanities and Social Sciences, IIT Bombay
Evolutionary Aspects:
• Process of diversification of academic programmes at IITs
• Lessons gained from the conduct of Core and Elective courses in
Economics for the UG and PG students over several years.
• Sustained and continued discussion sessions about the feasibility
of new programmes
• New programme with the nomenclature of Bachelor of Science in
Economics is being the proposed by the Department of
Humanities & Social Sciences
Department of Humanities and Social Sciences, IIT Bombay
Vision
• Create a unique brand of students who will be
equipped to balance economics, enterprise,
science and technology, and social objectives.
• Produce well-trained professionals with inter,
and multi-disciplinary skills for applied
economic analysis and efficient decision-
making.
Department of Humanities and Social Sciences, IIT Bombay
Rationale for the Programme:
The programme aims to create a unique brand of students who will
be equipped with the temper of ethically strong society while
achieving technological applications and breakthroughs. In this
regard, educationists have emphasized the need for a balance
among economics, ethics and enterprise.
The new programme aims to produce well trained professionals
with inter and multi disciplinary skills for Applied Economic
Analysis.
The programme seeks to impart education to students to become
more efficient analysts/decision making professionals in the area
of business & public policy and development administration.
Industrial houses, banks and government/semi government
agencies and organizations are increasingly demanding graduates
with these kinds of skills and capabilities.
Department of Humanities and Social Sciences, IIT Bombay
Rationale – cont..
• With a strong background in economics, social sciences, mathematics and statistics, science subjects, and exposure to computer science, we expect these students to find excellent placements in a wide range of public and private firms.
• We also feel that starting an undergraduate programme will enhance the department’s profile, and help us in transition to a larger School of Humanities and Social Sciences.
Department of Humanities and Social Sciences, IIT Bombay
Options Considered:• After considering several options and looking around in other leading
academic institutions in India and overseas, we propose a
• 4 year Bachelor of Science [BS] in tune with 4 year B. Tech and B.S
in Chemistry programmes of the institute
Title of the new programme: ECONOMICS
• Emphasis on the economics centric, based on national and global
scenario
Basic reference points:• Economics programmes of IIT Kanpur and IIT Kharagpur
• Select Universities in India
Department of Humanities and Social Sciences, IIT Bombay
Criterion for admission: IIT-JEE
Number of seats: 20
Curriculum:
• Drawn on the basis of Biswas Committee report with
recent modifications as applicable
• Courses and project work with corresponding credit
structures for respective semesters
• The credit structure broadly follows the Senate approved
BS Chemistry programme
Department of Humanities and Social Sciences, IIT Bombay
Features of Courses:
i. Required number of core and elective courses from English, Linguistics,
Philosophy, Psychology, Sanskrit and Sociology disciplines, in order to
reflect the inter-disciplinary ethos of the department
ii. A critical amount of mathematics/statistics and science courses
iii. A select number of electives from multi-disciplinary areas established in the
institute
iv. A comprehensive list of courses [core and electives], based on the following
three perspectives namely, (a). Emerging, (b). International and (c).
Mainstream, in the field of economics have been designed. The set courses
have been identified keeping in mind the key areas of :
• Technology & Industry
• Financial economics & Corporate investment
• Health economics & Labour economics
• Globalization & International economics
• Climate change & Green accounting
• Mathematical Economics & Econometrics
Department of Humanities and Social Sciences, IIT Bombay
Capabilities and strengths:
• Economics has remained a core course of study for all branches ofUG students. Faculty members of the discipline have been giving agood number of electives for B. Tech and M. Tech programmesover the years. It has been contributing to the existing M. Phil.Programme in Planning and Development both in terms of conductof courses and research guidance. It has also contributedsignificantly to the Ph.D programme (nearly thirty five percentageof Ph.D student of the department output has been produced by thefaculty of the discipline, over the years)
• Apart from the inputs from the other disciplines of the department,there are possible academic and research inputs from some of theinter/multi-disciplinary centers of the institute. This aspect is ofadded advantage for the proposed programme.
• Currently, there are Nine faculty members belonging to economicsdiscipline. Taking into account the emphasis on the newprogramme, special drive is going on to attract some more facultymembers in the discipline.
• There are also prospects of getting necessary inputs from andacademic association with other institutions/ organizations in andaround Mumbai.
Department of Humanities and Social Sciences, IIT Bombay
Detailed List of Courses
Semester Wise
Department of Humanities and Social Sciences, IIT Bombay
First Year Courses
• Common for all new entrants of IIT Bombay
• Keeping in mind the provision for branch change, we propose that the UG Economics students also do the first year courses along with everyone else.
• Courses in Mathematics [MA 105, 106, 108] and CS 101 would be highly useful for the Economics students
• In the Second Semester, the Economics UG students would do HS 101 Economics course [6 credits] as a departmental introductory course.
Department of Humanities and Social Sciences, IIT Bombay
Semester 1 & 2
Semester Number of Courses
Core Elective Credits
1 0 36
2 33
Including HS 101
Total 69
Department of Humanities and Social Sciences, IIT Bombay
Department of Humanities and Social Sciences, IIT Bombay
Adopting the 1st Year Curriculum of BS Chemistry
Department of Humanities and Social Sciences, IIT Bombay
Four year B.S. – Economics 1st Year
Acad Year-Sem Course Name Credits
2017-1 CH 105 Organic & Inorganic Chemistry 4
2017-1 CH 107 Physical Chemistry 4
2017-1 CH 117 Chemistry Lab 3
2017-1 CS 101 Computer Programming and Utilization 6
2017-1 MA 105 Calculus 8
2017-1 ME 119 Engineering Graphics & Drawing 5
2017-1 NOCS01 NCC/NSS/NSO 0
2017-1 PH 107 Quantum Physics and application 6
36
2017-2 BB 101 Biology 6
2017-2 HS 101 Economics 6
2017-2 MA 106 Linear Algebra 4
2017-2 MA 108 Differential Equations 4
2017-2 ME 113 Workshop Practice 4
2017-2 NOCS02 NCC/NSS/NSO 0
2017-2 PH 108 Basics of Electricity & Magnetism 6
2017-2 PH 117 Physics Lab 3
33
For BS in Economics
• In the Second Semester of the First Year of the programme:
• CH 104 Chemistry 2 will be replaced by HS 101 Economics [with 6 credits]
• All others will remain the same, totaling 69 credits
• Students would be allowed branch change at the end of First Year, as is the case in the Institute.
Department of Humanities and Social Sciences, IIT Bombay
Semester Wise
Department of Humanities and Social Sciences, IIT Bombay
Semester Number of Courses
Core Elective Credits
3 7 [including HS 200 & ES 200]
7 0 36
4 5 4 1 30
5 6 5 1 36
6 6 [including a Lab course for 3 credits]
4 + 1 lab 1 33
7 5 [including a Lab course for 3 credits] + Project Stage I
2 + 1 lab 2 33
8 2 + Project Stage II
0 2 24
Semester 3 [36 Credits]
Course No Course Title Credits
HS 2xx Intermediate Microeconomics I
6
HS 2xx Intermediate Macroeconomics I
6
HS 2xx Mathematical Economics 6
HS 2xx Statistics I 6
HS 307 Introduction to Sociology 6
ES 200 and HS 200 Environmental Studies 3 + 3 = 6
Department of Humanities and Social Sciences, IIT Bombay
Semester 4 [30 Credits]
Course No Course Title Credits
HS 2xx Intermediate Microeconomics II
6
HS 2xx Intermediate Macroeconomics II
6
HS 2xx Statistics II 6
HS 2xx Money & Banking 6
HS Elective Group 1 [Ethics related courses from a specified basket] – Annexure I
6
Department of Humanities and Social Sciences, IIT Bombay
Department of Humanities and Social Sciences, IIT Bombay
Annexure 1:
Elective Group I: HSS Elective Courses in this basket for the B.S., Economics students:
Faculty members in the HSS Department have designed and been teaching various courses in related
to Ethics for both the UG and PG students of the Institute. Some of these already approved and
taught courses are likely to be offered as elective courses in Elective Group 1 basket for the B.S.,
Economics students. They are:
HS 414 Justice, Ethics, and Community
HS 448 Professional Ethics
HS 632 Making Choices: Ethical Dimensions in the Scientific Endaevor
HS 640 Civil Society: Its Foundations and Future
HS 702 Law, Governance, Rights and Development
Semester 5 [36 Credits]
Course No Course Title Credits
HS 3xx International Economics I 6
HS 3xx Development Economics I 6
HS 3xx Public Finance 6
HS 411 Indian Economy 6
HS 303 Introduction to Psychology 6
HS Elective Group II [HSS Courses taught by other than economics faculty members]
6
Department of Humanities and Social Sciences, IIT Bombay
Semester 6 [33 Credits]
Course No Course Title Credits
HS 3xx; HS3xx [Lab course] Econometrics I and Lab I 6 + 3 = 9
HS 3xx International Economics II 6
HS 3xx Development Economics II 6
HS 3xx Economics Elective I 6
HS Elective Group II [HSS Courses taught by other than Economics faculty members]
6
Department of Humanities and Social Sciences, IIT Bombay
Semester 7 [33 Credits]
Course No Course Title Credits
HS 4xx ; HS 4xx [Lab course]
Econometrics II + Lab II 6 + 3 = 9
HS 402 Game Theory & Economic Analysis
6
Institute Elective I 6
HS 4xx Elective Group III –Economics related courses] – Annexure II
6
HS 4xx Project Stage I 6
Department of Humanities and Social Sciences, IIT Bombay
Semester 8 [24 Credits]
Course No Course Title Credits
HS 4xx Elective Group III –Economics related courses] – Annexure II
6
Institute Elective II 6
HS 4xx Project Stage II 12
Department of Humanities and Social Sciences, IIT Bombay
Department of Humanities and Social Sciences, IIT Bombay
Annexure II:
Elective Courses for the B.S., Economics students:
Faculty members in the Economics group of the Department have
designed and been teaching various courses in Economics for both the
UG and PG students of the Institute. Some of these already approved
and taught courses are likely to be offered as elective courses for the
B.S., Economics students. They are:
HS 417 Economics of Life
HS 416 Energy Economics
HS 419 Economic Reforms in India
HS 426 Theory and Policy of Managerial Finance
HS 439 Health Economics
HS 440 Industrial Economics
HS 457 Managerial Economics
HS 487 Planning and Economic Policies in India
Supervised Learning Course [one course per student]
In addition, some more courses are likely to be designed and offered in
the Electives basket.
Two new course proposals, titled (i) Economics and Ethics and (ii)
Philosophy of Economics are included in the new courses for approval.
Total Credit Structure
Semester Credits
1 36
2 33
3 36
4 30
5 36
6 33
7 33
8 24
Total 261
Department of Humanities and Social Sciences, IIT Bombay
Annexure 3Semester wise Course Schedule
Department of Humanities and Social Sciences, IIT Bombay
Semester
No.
No of courses No of courses
in Economics
No of courses
from HSS
[other than
Economics]
No of
courses
from
other
Depts.
No of Core
Courses
No of
Elective
Courses
Lab Total
Credit
1 6 0 0 6 6 0 1 36
2 5 1 0 4 5 0 2 33
3 7 [ES+HS 200] 4 2 1 7 0 0 36
4 5 3 2 0 4 1 0 30
5 6 5 1 0 5 1 0 36
6 5 4 1 0 4 1 1 33
7 4 + Project I 3 0 1 2 2 [1 IE] 1 33
8 2 + Project II 1 0 1 0 2 [1 IE] 0 24
Total 40 + Project 21 6 13 33 7 5 261
Internship
• During the Summer months after the 4th and 6th Semesters, the students would be encouraged and guided to undertake internship in industry and/or research institutions/organisations.
Department of Humanities and Social Sciences, IIT Bombay
Course Contents and Text/Reference details
• 19 New Courses [15 Core + 2 Lab + 2 UG electives] – detailed course contents prepared and submitted to Senate [with clear recommendations from DUGC and UGPC]
• Several existing Senate approved courses are included in the curriculum – both Core and Electives
Department of Humanities and Social Sciences, IIT Bombay
Additional inputs
• Two Institute Electives as per institute guidelines.
• Encourage students to opt for Minor from Engineering, Entrepreneurship, IDC, Management, Sciences and other Social Sciences/Humanities
Department of Humanities and Social Sciences, IIT Bombay
Inputs Received
• Conducted workshop to obtain feedback and inputs on the detailed course contents designed by us
• The participants widely appreciated and said that the positioning of this programme in IIT Bombay could be unique.
• Internal discussion and agreement that the programme can start from the academic year of 2017-18
Department of Humanities and Social Sciences, IIT Bombay
The Road Ahead
• Introduce additional courses to give an option for students to obtain a Honours in Economics.
• Introduce curriculum to provide an option for those interested to spend one more year, with additional course load, and obtain a dual degree [B.S., and M.S., in Economics].
Department of Humanities and Social Sciences, IIT Bombay