MSC (ECONOMICS) (WITH SPECIALIZATION IN ENVIRONMENTAL AND RESOURCE ECONOMICS)

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1 (WITH SPECIALIZATION IN ENVIRONMENTAL AND RESOURCE ECONOMICS)

2 There is now a growing realization that India has to emerge as an economy driven by knowledge. Given the rapid progress that intellectual enterprises are making worldwide, higher education must benefit from a continuous accretion of knowledge through research. This is what TERI University is attempting to do through all its programmes, for the benefit not only of Indian citizens but people from other countries as well who would pass through the portals of this institution. This university offers education supported by rigorous research. R K Pachauri Chancellor TERI University Introduction The rapid structural economic changes in developed and developing countries in the second half of the 20th century have created increasing pressure on environmental and natural resources. Though the need to protect the environment is recognized by most of the societies, but how to achieve a balance between economic growth, social welfare and environmental health is widely debated. Environmental and Resource Economics, which is a new and exciting branch of economics, integrates the discipline of economics with environmental sciences. It analyzes the conflict between production and consumption patterns of the societies and the limits imposed thereon by the environment. The MSc Economics (with specialization in Environmental and Resource Economics) programme will be intended to examine the application of economic theory to environmental and natural resource issues within an interdisciplinary setting. The programme will be especially targeted to students wishing to become professional environment and resource economists in governments, corporations, international organisations and for those who want to make further career in research and consultancy in environmental and resource economics. At the end of 2-year intensive training in environmental and resource economics our students are expected to have acquired a high degree of technical ability and a solid understanding of economic theory as it relates to the environmental and natural resources; they should be able to confidently conduct independent research.

3 Programme Structure (total 89 Credits) This will be an intensive 2-year programme and will be updated regularly to keep it at the forefront of advanced training in its field. The first semester is intended to lay the foundation in basic economic theory and its practices. The two following semesters will train students in the theory and practice of environmental and resource economics. Students have the flexibility to pursue some specializations by selecting a set of elective courses from a long list of options courses to be offered in the third semester. Students have to choose at least five elective courses in the third semester. In the fourth semester students are required to do a major research project on a particular problem of environmental and resource economics. This will enable students not only to apply the knowledge that they have gained in the different courses, but also to create analytical mindsets with first hand experiences. Semester 1 (22 credits) 1. Principles of Economics (non-credit) 2. Micro economics (4 credits) 3. Constrained Optimization and Linear Algebra (4 credits) 4. Quantitative Methods (Basics of Statistics, and econometrics) (4 credits) 5. Macroeconomics (4 credits) 6. Indian Economics (4 credits) 7. Communication Skill (2 credits) Semester 2 (20 credit) 1. Environment and economic development (4 credits) 2. Theory of environmental policy (4 credits) 3. Natural Resource Economics (4 credits) 4. Econometrics (4 credits) 5. Trade and Environment (4 credits)

4 Semester 3 (23 credit) Core courses 1. Techniques of environmental valuation (4 credits) 2. Minor Project (4 credits) Optional Courses From the courses listed below a student is free to choose a set of courses so as to earn at least 15 credits 1. Economics of Environmental Ethics (3 credits) 2. Risk, Uncertainty and information (3 credits) 3. Collective action and environmental management (3 credits) 4. Society, business and environment (3 credits) 5. Economics of Climate Change (3 credits) 6. Energy Economics (3 credits) 7. Environmental Finance/Carbon finance (3 credits) 8. Institutional Economics and the Environment (3 credits) 9. Game theory and the Environment (3 credits) 10. Theory of Industrial Organizations (3 credits) 11. Contracts and the Environment (3 credits) 12. Environmental Law and Economics (3 credits) 13. Agricultural Economics (3 credits) 14. Advanced Macroeconomics (3 credits) 15. Public Economics (3 credits) 16. Theory of Trade (3 credits) Semester 4 (24 credits) Major Project In semester 4, the students will be required to do a research project of 24 credits. The objective of the major project is to provide students experience in both theoretical and empirical research.

5 Pedagogical tools The choice of pedagogical tools will be based on the principles of active learning based on robust conceptual understanding. These will comprise classroom lectures, case studies, field visits, term papers, assignments and tutorials, guest lectures by policy makers and experts, seminars and discussion forums, and role play. Graduation requirements As the MSc programme has a large component of research each student will have to earn a minimum of 89 credits over the two-year period with a minimum CGPA (cumulative grade point average) of 6. Eligibility 3-year Bachelor s degree in Economics (50%) or Mathematics/Physics/ Engineering (60%) with Mathematics and English as compulsory courses till 10+2 or equivalent. Selection process The programme will have a total of 30 seats. Selection of students will be based on the mark/grade obtained by the students in their last qualifying examination and an interview. Faculty Professor K. L. Krishna* Professor Anjan Mukherji* Professor Swapna Mukhopadhyay* Professor Pulin B Nayak* Dr Saon Ray Subir Sen Professor Badal Mukherji Professor Kanchan Chopra* Professor M. N. Murty* Dr Surender Kumar Dr Kaushik Deb Poornima Varma * Invited

6 ABOUT TERI UNIVERSITY TERI University, an outcome of TERI's research experience and skill gained over the last three decades, was recognized as a deemed university by the University Grant Commission in TERI University's academic programmes centre around four basic themes: natural resource management, biotechnology, policy and regulation, and energy and environment. Having begun with doctoral programmes in 2001, it has gone on to offer various masters degree programmes since TERI University offers M. Sc. degrees in Climate Science and Policy, Environmental Studies, Natural Resource Management, Water Resource Management, and Geoinformatics, MBA degrees in Infrastructure, and Business Sustainability, M.A. in Public Policy and Sustainable Development, in addition to several other programmes. Department of Policy Studies The Department aims to achieve a critical mass of expertise and academic excellence that would provide a basis for influencing public policy and regulatory practice and for developing effective management practices by way of research and training. The department offers MBA in Infrastructure, and Business Sustainability, M.A. in Public Policy and Sustainable Development, M Sc in Economics (with specialization in Environmental and Resource Economics), in addition to doctoral and several other short term programmes targetted for fresh graduates and mid-career professionals. For further information, please contact The Registrar TERI University, 10, Institutional Area Vasant Kunj, New Delhi , India Tel Fax Web May 2009 (1000)

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