Economics in an all-new avatar: Mumbai university dept gets a revamp | education | Hindustan Times
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Economics in an all-new avatar: Mumbai university dept gets a revamp

The Mumbai School of Economics and Public Policy is not just a new name; it’s a new mission - to meet the economic and social challenges of a changing world

education Updated: Jun 07, 2017 16:31 IST
Gayatri Belpathak
(HT File Photo)

One of the oldest economics departments in the country, the one at the University of Mumbai, is getting a makeover to meet the economic and social challenges facing the nation. It is being revamped and was recently renamed the Mumbai School of Economics and Public Policy.

The department needs seed funding of Rs 150 crore for the transformation, and the process of collecting it is underway. Grant money obtained from the government will be used towards this. The department is not financially autonomous; all grants and funds will be spent strictly as per the rules of the government and university, says Neeraj Hatekar, director of Mumbai School of Economics and Public Policy.

It will work as a policy research and evaluation organisation. And, through MoUs with various government departments, policy research will be conducted. Experts with nationwide and international work experience will be roped in for policy creation and evaluation for the Maharashtra government through the school. Capacity building exercises will be conducted through various government departments.

Students of the Mumbai School of Economics and Public Policy will intern at various government departments. The school will act as a link connecting other students and teachers across universities and colleges in the state who have the wherewithal to work for the government, adds Hatekar.

The school will include the following research centres - Policy Research Centre, Tribal Welfare Research Centre, Citizenship Research Centre, Policy Research Group and Public Resources Research Centre. And the following training centres - Centre for Applied Economics, Centre for Public Policy, Centre for Quantitative Finance and Centre for Data Science. About 1,000 to 1,200 students will be enrolled at these four training centres.

The Centre for Applied Economics is in the process of launching a four-year integrated MA programme in Economics as per international standards in conjunction with autonomous universities and a four-year integrated MA programme in Business Economics, adds Hatekar.

Prestigious universities and experts from London School of Economics, Cambridge University, Rome University and Indira Gandhi Institute of Development Research are being consulted. Work is underway to launch these programmes in the academic year 2017-18. In addition, short term courses in Applied Economics will be launched.

The Centre for Public Policy will be launching BA and MA programmes in Public Policy and these programmes will be commence in the academic year 2018-19. In addition, short term courses in Public Policy will be launched for government and non-government employees.

The Centre for Data Science will address the need to integrate data science with public policy, says Hatekar. New programmes intended to be beneficial for framing public policy will be created. Government and non-government organisations will be able to do capacity building through such programmes.

The Centre for Quantitative Finance will launch an M A programme in Quantitative Finance, which will commence in the academic year 2018-19. Short term courses for capacity building and research on financial regulation will be undertaken by the centre.