Higher Derivative CP(N) Model and Quantization of the Induced Chern-Simons Term

We consider higher derivative CP(N) model in 2+1 dimensions with the Wess-Zumino-Witten term and the topological current density squared term. We quantize the theory by using the auxiliary gauge field formulation in the path integral method and prove that the extended model remains renormalizable in the large N limit. We find that the Maxwell-Chern-Simons theory is dynamically induced in the large N effective action at a nontrivial UV fixed point. The quantization of the Chern-Simons term is also discussed.