Welcome To

Meghnad Desai Academy of Economics

MDAE believes that the true purpose of education is to liberate the minds of young students. Set-up in 2014, at Mumbai, under the able guidance of Lord Meghnad Desai, Professor Emeritus, London School of Economics, the focus of the academy is to address the yawning gap between what the market needs and what traditional colleges offer. Through an amalgamation of theoretical rigor, interdisciplinary exposure and mentorship, the Academy prepares students for real life, by teaching them how to think and not what to think!

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Highlights from Nishtha Mehta's Seminar on Credit Risk Management at Meghnad Desai Academy of Economics

On September 21, 2024, we had the privilege of hosting an insightful seminar on Credit Risk Management (CRM) led by Nishtha Mehta at the Meghnad Desai Academy of Economics. The session delved deep into the intricacies of CRM, emphasizing its crucial role in safeguarding the financial stability and profitability of institutions.

Nishtha expertly covered the fundamentals of credit risk, including the different types—such as default risk and counterparty risk—and the importance of a robust CRM framework. She also discussed the latest methodologies in credit risk assessment, blending qualitative and quantitative approaches, and introduced key modeling techniques like Probability of Default (PD), Loss Given Default (LGD), and Exposure at Default (EAD).

The seminar also explored strategies for effective credit risk monitoring, reporting, and mitigation, with a focus on industry best practices and the impact of regulatory frameworks like Basel III and the Dodd-Frank Act. Nishtha also took the time to address numerous student queries, providing clarity and further insights on the topic.

This seminar was a valuable learning experience for all attendees, providing actionable insights into the challenges and strategies essential for managing credit risk in today's dynamic financial environment. We're grateful to Nishtha Mehta for sharing her expertise and contributing to our ongoing commitment to academic and professional excellence.

Lord Desai's interaction with the students

On the 5th of September, 2024, Lord Meghnad Desai visited MDAE, a visit made even more special by the fact that it coincided with Teachers' Day. He spent several hours engaging with the enthusiastic MDAE batch of 2024-25, who eagerly asked him questions on a wide range of topics, from Bollywood and the rise of AI to his experience as a naturalised British citizen. The interaction began with Lord Desai sharing his approach to understanding the world through the lens of politics and economics. He highlighted how being curious and viewing events through an economic perspective can deepen one's grasp of economic theories and their practical application. This, he noted, is also crucial when selecting a thesis topic, as choosing something truly interesting and meaningful fuels genuine curiosity and enriches the research process.

Specializations – Data Analytics | Finance | Public Policy
Mode: 1 Year, Full-Time, Classroom Based.

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Post Graduate Diploma in Data Science & Finance

Mode: 1 Year, Full-Time, Classroom Based.

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Shailesh sir helped me overcome my fear of mathematics. I had never experienced such engaging and interactive teaching before and I thoroughly enjoyed all of his sessions. Despite coming from an arts background with limited exposure to math, I was able to score the second highest in my class. I credit my success in his course to the enjoyable nature of his classes and the helpfulness of his tests.

Ms. Akanksha Das

Alumni, PGD Economics,
Batch of 2023-24

Sir did an excellent job. I have noticed improvements in myself and I am much more comfortable tackling math problems, which I couldn't do two months ago.

Mr. Anshuman Dohare

Alumni, PGD Economics,
Batch of 2023-24

I took up MDAE's PGD in Data Science & Finance (2023-2024) after a degree in Actuarial Science, and 1 year as an Actuarial Associate in an insurance company. I studied courses at MDAE such as Python, Econometrics, Data Analysis, SQL, Data Visualization, and Machine Learning. This helped me compliment my actuarial knowledge. I have now been hired by M&G PLC, an Insurance Consulting organization. I am a more versatile Actuarial Analyst now on account of the MDAE program. My CTC went up 1.75 times after the MDAE Program.

Nikhil Kulkarni, Actuarial Analyst at M & G

MDAE Alumnus, PGD Data Science and Finance

I took up MDAE's PGD in Data Science & Finance after a BAF degree, having completed 8 exams of actuarial science and 1.5 years as a Consultant in an insurance company. I studied courses at MDAE such as Python, Econometrics, Data Analysis, SQL, Data Visualization and Machine Learning. This helped me compliment my actuarial knowledge and double my compensation as a Senior Executive (Pricing) when I returned to a job after MDAE. I am a more versatile Actuarial Analyst now on account of the MDAE program.

Jainam Gada, Senior Executive Pricing, RGA

MDAE Alumnus, PGP Data Science and Finance

I recently received the prestigious Lord Meghnad Desai Best Dissertation Award at MDAE. Prof Shreshti Rawat's teachings have been very helpful and are a great base to build more knowledge upon. To give a snapshot, I worked on family structure and its impact on female labour force participation. I used the log-likelihood of a married woman staying in a joint family as an instrumental variable to tackle endogeneity. This went into another linear probability model for family choices, and those predicted probabilities later served as one of the instrumental variables in my main model. Prof Shreshti Rawat's class was a game-changer for grasping this stuff.

Mr. Drumil Shah, Senior Executive, Deloitte

MDAE Alumni 2022-23

Mr. Mahesh Vyas, MD & CEO-CMIE at MDAE

A decent job is characterised by a written contract, paid leaves, and social security.

CMIE has been recording unemployment data since 2016, revealing a disconnect between growth and employment in India. From 2016 to 2024, labour force participation has declined by 4%, and the employed population has declined by 6%, while the proportion of unemployed population was at a steady state at 8%.

The RBI’s focus on the trade-off between inflation and growth overlooks the crucial trade-off between inflation and unemployment rate.

Entrepreneurship is rising, but we need large-scale entrepreneurs who can provide employment to large populations rather than those disguised in the form of self-employed. Women face systematic disadvantages in employment.

Listed companies should grow their net fixed assets to hire more as Governments and large companies are best suited to provide decent jobs. To sum up, providing poor quality jobs to many, high-paying jobs to a few, and excluding women is not the path to a robust and inclusive recovery.