Fundamentally human beings at individual and societal levels are facing the problem of satisfying unlimited wants with limited means or resources. Economics is a discipline that addresses this fundamental aspect of humanity. Resource limitation necessitates choices among alternatives that provide effective and optimal solutions. In addition to that economics evaluates solutions and alternatives in terms of efficiency, cost effectiveness, impact on current and future generations, environmental sustainability, and welfare consequences. The problem of decision making becomes extremely complex under different social, economic and market settings either because of inadequacy of sufficient amount of relevant information or because of inability of human brain to take rational decision in the presence of large volume of complex information. Information Economics addresses such issues. In addition to that we have to attain sustained growth with least adverse effect on environment and equitable distribution of the fruits of growth that ensures fair share to the people living in the lower layers of society. Elimination of poverty and unemployment are important issues addressed by economics to enlarge the choices of people and to allow them to develop to their fullest potential to contribute to the society and to themselves on one hand and add to the happiness at both personal and social levels. The present P G curriculum is designed by considering all these aspects and is making use of the OBE framework. It helps students to prepares for UGC Net examination and other competitive examinations as well as for employment, research and higher studies.
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