Economics education in India has not kept pace with developments in the workplace. There is a dearth of post-graduate programs which marry strong theoretical foundations with applied skills necessary for a rapidly globalizing economy. In particular, the Global Financial Crisis and the rise of Big Data have generated a need for a more practical education where students of economics and finance develop a new toolkit to analyze and address real-world problems. The Meghnad Desai Academy of Economics has been established as an institution of excellence to provide graduate students with the academic rigor and applied skills to meet the needs of a dynamic and globalized workplace. The programs have substantial input and participation by top-ranking corporates to improve the employability of students.