“How to improve Economics Education in Mumbai” – Brainstorming Session with Undergraduate Students at MDAE

Who attended the session?

Undergraduate students from HR and Jai Hind College attended the session.

What was the agenda of the session?

  1. To understand more about the undergraduate curriculum in economics
  2. Recognise gaps in content & delivery and identify remedial measures
  3. Introduce students to the faculty and other initiatives at MDAE and get their feedback

What were the key points that were brought out:

  1. The current curriculum includes subjects like:
  • Microeconomics
  • Macroeconomics
  • Research project (writing Assignment).
  • Indian Economy
  • Advance Economic Theory
  • International Economic Theory
  • Maths & Stats

     2. Key points in the education system that were highlighted were:

  • Students felt that their education is centred on how to secure high marks in exams and not focused on teaching them economics.
  • There is no motivation to go beyond the syllabus and read outside the prescribed books.
  • The learning is not application based.
  • Students felt that there was a need to have a curriculum that develops critical thinking.
  • Overlapping subjects leading to repetitive learning.
  • Regimented assessment system which promoted rote learning (focus on answer length instead of content).
  • Lack of exposure and substandard grounding in newer areas like International Political Economy, Development Studies and Behavioral Economics.
  • Absence of research component as a pre-requisite in the curriculum – leading to students being underprepared for higher studies in India & abroad

      3. Potential remedial measures that were suggested included:

  • Change testing and evaluation methods from being factual to being analytical
  • Inclusion of more practical case-studies as part of the curriculum
  • Focus on research component

     4. Steps students are taking in order to get more relevant learning:

  • Short term internships during their vacations
  • Take up research assignments / projects with NGO’s & other institutions
  • Organise & participate in more economics festivals

      5. Professor Indradeep Ghosh (Associate Professor, MDAE) suggested the following:

  • To develop practical understanding of concepts, students should study cases like the Microsoft Antitrust Case & the Euro Crises Case. They must also answer larger macroeconomics questions like should India liberalise the capital account or not?
  • Perform research in a systematic way – ask the right questions, identify the correct sources to seek answers, synthesise these answers and then put in your own contribution to the argument




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Date(s) - 20/11/2015
2:00 pm - 3:30 pm

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Economics Data Science

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