CoE in School of AI and Data Science

Centre for Mathematical and Computational Economics (CMCE), IIT Jodhpur

Mathematical economics provides the fundamental tools and techniques for eco- nomic modeling. The advent of cross-disciplinary research in economics has paved the path for research in several interesting domains and robust theoretical foundations are essential to model the scenarios. Mathematical and quantitative tools are extensively used to build such foundations. CMCE follows (broadly) three objectives:
  • research in the fields of economic theory, operations research and mathe- matics;
  • training of bachelor level students as well as those at the doctoral and post-doctoral level;
  • international and local academic exchange and collaborations.

1.1 Research in economic theory, OR and mathematics

The centre aims to be a leading place for cutting-edge research in economic theory and allied areas. While core areas within economics would remain at the focus, the centre likes to undertake research in cross-disciplinary areas such as computer science, development of algorithms as well as social sciences. The thrust will be on mathematical and quantitative approaches to finding solutions to economic problems. In particular, the following is a non-exhaustive list of research areas:

1.1.1 Research areas

  • Decision theory;
  • Experimental economics
  • Social and Economic Networks;
  • Mechanism design;
  • Social choice;
  • Auction theory;
  • Optimization theory;
  • AI, reinforcement learning and mechanism design;
  • Computational social choice;
  • Algorithmic game theory;
  • Big data and consumer choice

1.1.2 Dissemination of research

The centre emphasizes on dissemination of scientific research in terms of publi- cations in top-tier journals as well as maintaining a regular Discussion Paper series. Additionally, a regular seminar (or webinar) series is planned. This would enable the centre members to solicit comments from wider audience and also would provide the platform for collaborations

1.2 Teaching

The centre will offer flagship undergraduate and doctoral courses that will enable young minds to develop advanced skills and provide exposure to open research questions in various areas of economic theory. The tentative list of courses that the centre will offer is as follows:

CMCE Core courses

  1. Microeconomics;
  2. Game theory
  3. Mathematical tools for the economists

CMCE Specialised courses

  1. Social choice theory
  2. Auction theory
  3. Advanced game theory
  4. Social and economic networks
  5. Decision theory
  6. Advanced mathematical economics
  7. Industrial organization
  8. Matching theory
  9. Mechanism design and algorithms
  10. Evolutionary game theory
  11. Experimental economics
  12. Convex Optimization
  13. Machine Learning in Economics

1.2.1 Undergraduate level: Minor area

Initially, at the undergraduate level a basket of courses will be o↵ered and the centre proposes that students be able to opt for these courses as Open Electives (OE) or as Science courses (LS). While students from any discipline (Major) may opt for these courses, students with Computer Science Engineering (CSE) or Artificial Intelligence and Data Science (AIDE) there should be a direct in- terest. The centre proposes to introduce a minor area in economic theory - a student needs to complete 20 credits from the centre’s courses out of which 8 credits must be earned from the CMCE core courses.

1.2.2 Postgraduate level: Dual degree

The centre plans to offer a specialization track in mathematical economics. The students need to complete the CMCE core courses and additional requisite number of courses from the basket of specialized courses o↵ered by the centre. The students will also be required to complete a dissertation on a topic that falls within the purview of the research areas of the centre.

1.2.3 Ph.D. program

The centre plans to launch a strong Ph.D. program in mathematical and quanti- tative economics. The unique feature of the program would be its intense course- work, which is necessary for undertaking research in any academic discipline. The course-work would comprise of fundamental courses in microeconomic the- ory as well as a wide array of courses in economic theory e.g. mechanism design, network economics, behavioral economics etc. This will prepare the students for careers in both industry and academia, since the thrust areas of the centre are in demand across different sectors.
The centre will actively organise regular conferences and workshops and maintain a visitors’ program. Scholars from top-tier international institutes will be frequently invited for research visits and seminars in order to foster a healthy and ambitious research environment. As a part of the centre’s out- reach program, a forum for early career researchers (recent graduates and young assistant professors) will be developed that can provide important but often neglected academic resource: a support system of mentors, peers and collabo- rators with open communication on issues that have become a necessity for a successful career in research such as viability of research topics and new ideas, new techniques and methodologies, job market pressures faced by early career researchers, publications, etc.
The centre aims to foster a strong linkage with industry, especially various re- search labs such as IBM research, Yahoo research, Microsoft research, TCS research etc. The focus areas will be network games, e-auctions, block-chain analysis, e-retailing and consumer behavior, e-governance mechanisms and algo- rithms. The centre will actively pursue funding opportunities from the industry for the faculty members and the research scholars of the centre.
  1. Prof. Joydeep Dutta
    Ph.D. (Mathematics), IIT Kharagpur
    Research/teaching area(s): Optimization theory, Mathematical economics
    Webpage: https://home.iitk.ac.in/ jdutta/
  2. Prof. Ruhi Sonal
    Ph.D. (Economics), IIT Delhi
    Research/teaching area(s): Decision theory, Social and network economics, Game theory
    Webpage: https://sites.google.com/view/ruhisonal/home
  3. Prof. Saptarshi MukherjeePh.D. (Quantitative economics), Indian Statistical Institute Delhi
    Research/teaching area(s): Game theory, Mechanism design, Evolutionary games, Decision theory, Social choice.
    Webpage: http://hss.iitd.ac.in/faculty/saptarshi-mukherjee