marx and schumpeter

CENTRE FOR DEVELOPMENT
STUDIES
AFFILIATED TO
JAWAHARLAL NEHRU UNIVERSITY, NEW DELHI

M.A. APPLIED ECONOMICS
RECRUITMENT GUIDE 2013-14
1

ABOUT CDS
Set up in 1971 by the renowned economist, Late Professor Kakkadan Nandanath
Raj, the Centre for Development Studies (CDS) is an internationally renowned, selfgoverning institution known for its cutting edge research in applied economics and topics germane to socio-economic development, impeccable pedagogy, and extensive and exhaustive training programmes. The state-of-the-art CDS library is one of the biggest repositories of wisdom in South India with over 1, 50,000 titles in economics and related disciplines and subscribing to about 400 professional journals. It has faculty strength of about twenty.

CDS is primarily a research, teaching and training institute where research is organized across 6 distinct themes relating to
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Agricultural & Natural resources
Gender, Migration, Population
Health and Education
Poverty, Vulnerability and Social Security
Industry
Trade and Technology

And there is a seventh theme cutting across the above themes and analyzing the impact of globalization on each of them. This calls for a fine balance between theoretical rigour and empirical validation which enables the students to adapt to real life problems and observations in the existing theoretical framework. The emphasis on plurality and empirics is a hallmark of the academic programmes in CDS. The vibrant research community working in close aid with national and international agencies and governments make the overall environment conducive to adaption of theoretical knowledge to real life challenges, which is another merit exclusive to CDS.

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Message from the
Programme Coordinator

The CDS started a new Master’s Programme in Applied Economics during the academic year 2012-13. The programme is affiliated to Jawaharlal Nehru University, New Delhi and within a matter of three years has found a place as one of the top Master’s level courses in
Economics in the country. This is evidenced by the fact that the course has attracted considerable interest from very discerning graduates from some of the best universities in the country and that too in large numbers.
The course has some distinctive features, which transform someone who has pursued it into a well-rounded economist with strong foundation in economic theory and quantitative techniques but also the application of economic theory to a wide range of economic problems of developing countries. In this way the training that our students receive makes them eminently suitable for a wide array of careers in government and private sector, in industry and academia, in journalism and in civil society organizations. Careful but rather sophisticated analysis of empirical data, which are at the same time theoretically informed, is an important hallmark of our training at the Centre.
Finally, a word about our graduates who are in the process of entering the labour market. All of them have earned their place in the course after a rigorous and competitive nation-wide entrance examination. Further, they have continued to work very hard, possess excellent communication skills, both oral and written and also can be trusted with any kind of responsibility. I wish the entire batch the very best in their future endeavours and without any hesitation would welcome them to our own centre should they decide to do further studies in economics.

Professor Sunil Mani
Programme Co-ordinator.

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GOVERNING BODY
The Centre is managed by a Governing Body consisting of eminent academicians, planners as well as administrators.
The present Chairman of the Governing Body is Dr. Bimal
Jalan.
The Centre draws its financial support mainly from the
Government of Kerala and the Indian Council of Social Science
Research (ICSSR). The Reserve Bank of India and the Planning
Dr. Bimal Jalan
Commission has instituted endowment units for research in selected areas at CDS. The Union Ministry of Overseas Indian Affairs has set up a migration unit to study issues relating to international migration from India.

Governing Body and its Members:

4

FACULTY

The Centre for Development Studies, Trivandrum has been acknowledged over the years as a centre of excellence for advanced teaching and research in applied economics. This has been made possible largely because of the persistent efforts of the esteemed faculty who have strengthened the foundations of the institute over the years and have sharpened the young minds to undertake pioneering tasks.
National and International Recognition
The faculty at CDS have always been at the forefront of teaching and research. They have been consultants to varied bodies and have undertaken several research projects for World Bank, United Nations, ILO, RBI, UNCTAD, UNESCAP, European Union, Ford
Foundation, Harvard University, ICRIER, DST-GOI, ASEAN, IFPRI, Ministry of Overseas Indian affairs, Planning Commission, Ministry of Commerce, Kerala State Planning Board, etc. The publication of CDS Working Papers by faculties and researchers is widely acknowledged and has broad outreach. The faculty are regularly publishing in various national and international journals like International Economic Journal, Asian Economic
Review, Journal of Policy Modeling, Australian Economic Papers, Economia Politica, Pacific Affairs, The Journal of Labour and Society, Journal of World Intellectual Property,
Science and Development Network, Asia Pacific Migration Journal, EPW and also serve in the editorial boards and referee members of various journals of international repute like Journal of Asian Economics, Journal of Quantitative Economics, Research policy, International Journal of Technological Learning, International Journal of Technology and
Globalization, International Journal of Institutions and Economics, etc.
Recently Dr. Pulapre Balakrishnan’s edited volume on the Indian economy ‘Politics trumps Economics’ followed by Dr. P.L. Beena’s book on Mergers and Acquisitions has been published by Routledge. And amongst many honours, Pulapre Balakrishnan has been recently awarded with the distinguished Malcolm Adiseshiah Award for his contributions to development studies.

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CURRENT FACULTY
Amit Shovon Ray

Hrushikesh Mallick

D.Phil. (Oxon.) FRSH
Development Economics, Applied Econometrics, Economics of Technology And
Development

PhD in Economics (ISEC)
Applied Macroeconomic, Public Finance
Real Estate Economics, Remittance issues

Irudaya Rajan.S

Parameswaran. M

PhD in Demography (IIPS Mumbai )
Population and Development, Economics of
Aging, Gender and Development, International Migration

PhD in Economics (JNU)
Development Economics and Industrial Economics

Joseph K.J

Praveena Kodoth

PhD in Economics (JNU)
Innovation and Development, Information
Technology and Development, Industry
Studies

PhD in Economics (University of Hyderabad)
Gender Studies, Agrarian studies

Pulapre Balakrishnan

Udaya S. Mishra

PhD in Economics (Cambridge)
Monetary Macroeconomics
Productivity & Growth,

PhD in Population Studies (IIPS)
Measuring of Poverty and Inequality, Population and Development, Gender and Health: Measurement Issues

Sunil Mani

Vijayamohanan Pillai. N

PhD in Economics (JNU)
Technological innovation and R&D and
IPR, Industry, Industrial Policy

PhD in Econometrics (Madras University)
Applied Statistics (Stochastic Processes: Markov
Chain),
Econometrics of Inflation, Energy Economics

Vinoj Abraham

Amarjyoti Mahanta

PhD in Economics (JNU)
Labour Economics, Regional Development,
Structural Transformation of Economics

PhD in Economics (JNU)
Microeconomics, Dynamic Economics
(Adjustment Processes), Applied Game Theory

Devika. J

Beena P.L

PhD in History (MG University)
Feminist Theory and Practice, Social Theory and Social Science Research Methodologies

PhD in Economics (JNU)
Economic Development, International Trade and
Foreign Investment, Mergers and Acquisitions

Harilal K.N

Ragupathy Venkatachalam

PhD in Economics (JNU)
International Political Economy, Planning and Democratic Decentralization, International Economics

PhD in Economics (University of Trento, Italy)
Nonlinear business cycle theory, Measurement of Technological Progress, Macroeconomics and
Computable Economics

Chinnappan Gasper

Sunandan Ghosh

PhD in Education-Economics (Pune University)
Economics of Education, Education and the labour market

PhD in Economics (Jadavpur University)
Regional Economic Integration, Delegation
Game in Customs Union and Endogenous Quality Choice

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ALUMNI

The alumni of an institution are the true hallmarks of its impact and a medium of its message in the world outside. They exemplify and embody the wisdom, training and learning which they have received in the institution. CDS in its existence has attracted many bright minds from all across the globe and has nurtured them in an environment of curiosity, liberty, academic and intellectual freedom to pursue the issues which they feel are the most pressing and question the established norms. This environment has produced very fine minds that are making their mark felt across varied sectors like academics, civil services, journalism and executives. The success of these alumni speaks about the values which CDS has instilled in them and continues to do for the present generation of students.
Distinguished Alumni:
Name

Designation

Organization

Dr. Ashoka Mody

Ex Deputy Director

International Monetary Fund

Dr. Sanjaya Baru

Ex-Media Advisor

Prime Minister Office, New Delhi

Dr. Thomas Isaac

Ex- Finance Minister

Kerala Government

Ex-Member

Planning Comission

Economic Advisor

14th Finance Comission

Ex-Chairman

J&K Bank

Ex-Labor Economist

International Labor Organisation

Senior Economist

World Bank

Dr. Ashesh Ambastha

Vice President

ITC Limited

Dr. R M Reddy

Editor in Chief

EPW

Director

EPW Research Foundation

Dr. Cherian Samuel

Senior Consultant

International Finance Corporation

Dr. Narendra Pani

Professor

NIAS, IISc

Dr. R. Nagaraj

Professor

IGIDR

Dr. T T Sreekumar

Professor

NUS, Singapore

Dr. Sukhpal Singh

Professor

CMA, IIM-A

Dr. Rakesh Basant

Professoer

IIM-A

Research Fellow

ISST, New Delhi

Professor

Delhi School of Economics

Social Policy Specialist

UNCF

Senior Journalist

Indian Express

Dr. Ananth Kamath

Assistant Professor

Azim Premji University

Dr. Vijay Baskar

Assistant Professor

MIDS

Professor

IGIDR

Research Officer

Commonwealth Local Government Forum

Dr. Mihir Shah
Dr. Pinaki Chakraborty
Dr. Haseem Drabu
Dr. A V Jose
Dr. Deepa Sankar

Dr. J Dennnis Rajakumar

Dr. Rajib Nandi
Dr. Satish Deshpande
Mrs. Piush Antony
Mr. P. Ragahvan

Dr. M.H Suryanarayana
Mr. Gareth J. Wall

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ALUMNI SPEAK...
Before CDS, I was searching my calling and passion. At CDS, I found it. This was the gift of Professor
K.N. Raj, an intellectual giant, and his wife, Sarsamma, who generously adopted my wife, Jyothsna, and me into their lives. Dr. Raj taught me the importance of the highest standards of intellectual integrity while relentlessly pursuing a scholarly investigation (“research is a slow process,” he said). His insistence on folding history and politics into economic policy discussion have enriched my research immeasurably. I had the great good fortune also of being mentored and welcomed by
Professors Iqbal and Leela Gulati. Professors A. Vaidyanathan and T.N. Krishnan were always there to discuss research and policy ideas.
Ashoka Mody,
Charles and Marie Robertson Visiting Professor in International Economic Policy at the Woodrow
Wilson School, Princeton University and former Deputy Director, IMF

CDS taught me two lessons. First, anything is worth studying if it is based on observation of life around us. Second, we should be open-minded about method. CDS in the 1980s when I was a student gathered together a group of methodological liberals. They were receptive to history, statistics, economics, anthropology, Marxism, neoclassicism, and subalterns. Such mixture did not descend into chaos because individually the faculty, and the visitors, were bright and creative minds.
Looking back, it is trust in one’s observation and methodological liberalism that mattered most to my evolution as an academic. I imbibed both qualities in CDS. I hope the tradition continues.
Tirthankar Roy,
Professor of Economic History, London School of Economics (LSE)

For many decades the unique academic programme of CDS has turned out graduates who have gone on to occupy senior positions in a vast number of areas -- academics of course, and financial institutions, civil society and the media.
C. Rammanohar Reddy,
Editor, Economic and Political Weekly

CDS is more than an institution that taught me Economics. It taught me to think and empathize with the issues and problems that affect the lives of the common people in rural and urban India.
The professors and seniors at CDS along with the CDS community and the various discussion forums outside the campus provided an intellectually stimulating environment to the young mind.
Jeemol Unni,
Director, Institute of Rural Management (IRMA)

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M.A. Applied Economics Programme

M.A. in Applied Economics at CDS is a unique master’s programme in economics that aims at providing a rigorous training in theory, tools and methods for applied economic analysis, with a special focus on issues of economic development. The degree is awarded by Jawaharlal Nehru University, New Delhi. MA students are a part of a vibrant research community at CDS, comprising of faculty, research scholars and visitors, working on various facets of development within an interdisciplinary framework. Trained as applied economists, students are expected to be well prepared for careers in academia, government, national and international development agencies, research institutions, the corporate sector and the media.
In addition to the courses listed below, the students of the 2013-15 MA batch have been exposed to the following supplementary courses:
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Programming in R Statistical Software

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Advanced topics in Applied Econometrics with the M.Phil. Programme

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Short course on standard scientific research writing

Admission Process:
Admission to the highly sought after Master’s programme is based on an entrance test held across the country. The selection procedure is stringent with only 3% of all applicants being selected for the course.
The Centre has expanded its list of admission centers to include Trivandrum, Chennai, New Delhi, Kolkata, Bangalore, Hyderabad and Chandigarh over the past three years to ensure that the outreach of the programme improves and the
Centre attracts best of the brains from various pockets of the country.
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COURSE STRUCTURE
Students are required to complete sixteen courses: nine compulsory and seven optional courses as listed below. One compulsory course in the fourth semester is a project in which the student works under faculty supervision.
Course

Credits

Semester 1
AE 101 Fundamentals of Microeconomic Theory

4

AE 102 Fundamentals of Macroeconomic Theory

4

AE 103 Mathematical Methods

4

AE 104 Statistics

4

Semester 2
AE 105 Econometric Methods

4

AE 106 Economic Development

4

AE 107 International Economics

4

AE 108 Indian Economic Development

4

Semester 3: Any 4 Optionals from the following
AE 201 Public Economics

4

AE 202 Industrial Organization

4

AE 203 Topics in Trade and Development

4

AE 204 Economics of Technology and Innovation

4

AE 205 Population and Development

4

AE 206 History of Economic Thought

4

AE 207 Economic History of Modern India

4

Semester 4: Project and 3 Optionals
AE 208 Project

4

Any three Optionals from the following
AE 209 Environment and Sustainable Development

4

AE 210 Gender and Development

4

AE 211 Labour and Development

4

AE 212 Law, Economics and Development

4

AE 213 Issues in Indian Agriculture

4

AE 214 Issues in Indian Industry

4

AE 215 Political Economy, Development and Governance 4
AE 216 Economics of Project Evaluation

4
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PRIZES AND AWARDS

The Joan Robinson Award:
Joan Robinson, the famous
Cambridge economist, who was a student of Keynes and in turn
PhD advisor of Amartya Sen and
Manmohan Singh, was a frequent visitor to CDS until her death. She was an active participant in all the academic activities of the CDS. CDS holds the copyright on her two books from whose royalty this prize has been established.
The prize is awarded for the best overall performance in the MA (Applied Economics) Programme. The best performer is the one who obtains the highest Final
Grade Point Average (FGPA) at the end of four semesters.

The M.G. Kanbur Prize:
This prize commemorates the legacy of Dr. M. G Kanbur, a visiting faculty at CDS, who belonged to the initial cohort of economists using mathematical and econometric methods to analyze the economy of India and other developing countries.
The prize is awarded to the best performer in the quantitative courses of the MA
(Applied Economics) programme. These include three of the core courses on Mathematics, Statistics and Econometrics taught in the first year of the programme. The best performer is the one who obtains the highest Average Grade Point (AGP) in these three courses at the end of two semesters.

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Facilities/ Infrastructure/
Resources at CDS

LIBRARY FACILITIES:
Ever since its inception, CDS has accorded a high priority to building up a good library in social sciences. It is now one of the leading social science research and reference libraries in the country with a rich collection of books, journals, publications of other research institutes (national and international) and government publications.
The library collection is over 150,000 titles covering economics, statistics, development studies, sociology, demography, history, political science and other allied subjects. Currently it subscribes to 230 journals currently. In addition, it receives about
120 journals by way of gifts or exchange. The library is maintaining an exchange programme of publications with a number of national and international organizations.
In fond remembrance of our founder, Professor K N Raj, the CDS Library was renamed as K N Raj Library with effect from July 9 2010.
The library’s collection is also enriched by some precious books received in the form of gifts and donation by the well-wishers of CDS. This includes a collection of books donated by the Raja of Kollengode, a collection of books donated by the family of Lord Nicholas Kaldor (Economist, Cambridge), a collection of books received as a gift from Sanjay Lall (Economist, Oxford), a collection of books donated by Padma
Bhushan Devaki Jain (Activist and Feminist Economist), a collection of books received as gift from Prof K N Raj, a collection of books donated by the family of B G Gopal Kumar (Economist) and many more.
Book and article review are conducted regularly by faculty and students.
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Facilities/ Infrastructure/
Resources at CDS
CAMPUS:
CDS is located in a residential area in the northern outskirts of Trivandrum. The
CDS campus and buildings, designed by the renowned architect, Dr. Laurie Baker, exemplify the cost-effective techniques in construction. It is also a green campus with a prize-winning garden.
Residential accommodation in the campus consists of quarters for faculty and staff, hostel for students (both women and men), a guesthouse and a cafeteria.

HOSTEL:
The hostels are for residential purposes of students of the Centre. The Centre allots the rooms on single or on double occupancy basis subject to the availability of the vacant rooms. The rooms have attached bath and the furnishings include a bed (with mattress), table, chair and wardrobe. The campus at present 3 hostels viz. Men Hostel including Annex building, Women Hostel including Annex building and a newly built hostel which was inaugurated by Dr. Bimal Jalan, former RBI Governor. All the three hostels are well connected by the Wi-Fi facility.
At present all the students of the Centre are accommodated with single occupancy.

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Facilities/ Infrastructure/
Resources at CDS
IT FACILITY:
In tune with its professed goal of providing necessary IT services to the faculty and students of the Centre, the Computing wing of the Centre is equipped with the necessary organizational and computing resources. To facilitate the computing services to course through the length and breadth of organization efficiently and effectively, the institute has planted major IT-service centers targeted to various categories of users. Services provided include :
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24×7 Net access
POP/IMAP enabled E-mail with 1Gb mailbox
Google Apps (Gmail type of mail accounts) on cds.edu
1GB storage, accessible from anywhere.
Self-administrable web page for each of the users.
Library on-line catalogue.
Wi-Fi hotspots in different locations such as Library, computer centre, main block, classrooms, hostels, guesthouse etc.

EXTRA-CURRICULAR ACTIVITIES:
CDS promotes a mix of academic and extracurricular activities. The Students of the Centre actively participate in various sports events. The
Centre has a badminton court, a cricket field and rooms with facilities for various indoor games such as Chess, Carom and Table Tennis.
There are also two recreation and resting rooms equipped with television in the campus for the students.
Since the Centre attracts students from across the country, cultural diversity is very well seen in its tradition of celebrating all the festivals such as Onam, Diwali, Id, Holi, among others with the entire CDS fraternity.
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Seminars/Workshops/Lecture Series conducted recently at CDS
Speaker

Topic

K. C. Shashidhar
Chief General Manager, NABARD

Credit for Development: Towards New Paradigms

Ameresh Samantaraya
Reserve Bank of India

Conduct of Monetary Policy in India:
Theory and Practice

Gary S. Fields
John P. Windmuller Professor of International and Comparative Labour Cornell University,
ILR School, USA

Earning Their Way out of Poverty

P. Vigneswara Ilavarasan
Department of Humanities and
Social Sciences, IIT, Delhi

Mobile Phones Lead to Development?
Case of Urban Micro Entrepreneurs in Mumbai City

Vasant A. Sukhatme
Edward J. Noble Professor of Economics,
Department of Economics, Macalester College,
St. Paul. USA.

The United States Financial and Economic
Crisis of 2007-09: Causes, Consequences and Responses to It

Thomas E. Weisskopf
Professor Emeritus of Economics
University of Michigan

Does Affirmative Action Affect
Productivity in the Indian Railways?

Lakshmi K. Raut
Economist, Social Security Administration,
Office of Policy, Division of Economic
Research, USA.

Intergenerational Long Term Effects of
Preschool - Structural Estimates from a
Discrete Dynamic Programming Model

V. N. Balasubramanyam
Lancaster University Management School,
Lancaster, UK.

India’s Foreign Direct Investment

Pranab Kumar Bardhan
University of California, Berkeley, USA

Reflections on Issues of Minimum Social
Protection in India

Mihir Shah
Member, Planning Commission,
New Delhi

New Paradigm for Water Resources
Management in India

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Seminars/Workshops/Lecture
Series conducted recently at CDS
Silvia Masiero
Information Systems and Innovation Group,
London School of Economics and Political
Science, U.K.

The Importance of Targeting Structural Causes of Failure in E-Government: The Case of
Computerisation of The Public Distribution
System in Kerala

Ronald Labonte
Canada Research Chair, Globalisation/
Health Equity Professor
Faculty of Medicine, Institute of Population
Health, Ottawa, Ontario, Canada

The Limits of Growth: Improving Health Equity in a Globalising World

François Maniquet
University of Warwick, UK

Multidimensional Poverty Measurement:
Shouldn’t we take Preferences into Account?

Sunil Mani
Centre for Development Studies

TRIPS Compliance of India’s IPR Regime:
An Analysis of its Potential and Actual Effects on Innovative Activity in India

Kunal Sen
Professor, Development Economics and Policy
University of Manchester, UK

Out of the Shadows? The Dynamics of Change in the Informal Manufacturing Sector in PostReforms India

K. Pushpangadan
Member, Public Expenditure Review Committee,
Government of Kerala

Debt Management in Kerala

Micheal D Patra
Adviser-in-Charge, Monetary Policy Department,
RBI, Mumbai

Formulation of Monetary Policy in India

Ignacio Perrotini
National Autonomous University of Mexico

Revisiting the Latin American Debt Crisis:
Some lessons for the Eurozone

Sandra M. Leitner
Johannes Kepler University Linz, Austria Vienna
Institute for International Economic Studies
(wiiw), Vienna, Austria

Patterns of Product Innovation in the Indian
Manufacturing Sector

Ravi Kanbur
Reserve Bank of India K.N.Raj National Fellow at
CDS & Professor of Economics, Cornell
University, USA

Informality: Causes, Consequences and Policy Responses

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Why recruit from cds?
At CDS, teaching is a blend of theory and empirics which explains the vibrant research community at the institute. This environment instills a habit of careful analysis of propositions, theories, axioms and data into its students which well-equips them in dealing with any socio cultural or industrial issues. The students of M.A program benefit from this constantly engaging and result oriented research environment.
OUR STRENGTHS

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Analytical Skills: The course structure and teaching methodology enables the student to visualize, articulate and solve complex as well as simple problems.
The students are able to demonstrate their ability to apply logical thinking to gathering and analysing information, modelling and testing solutions to problems and formulating plans.

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Quantitative Aptitude: The emphasis on quantitative analysis enables the students to develop appropriate and relevant techniques for statistical analysis, forecasting, extrapolation, and other tools essential for effective decisionmaking. There is special focus on right reading of interpretation to make it relevant and reflect reality closely.

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Exposure: The students have also interned with various Public/Private Organisations and Research Institutions like Planning Commission, State Planning Board,
Ministry of Statistics & Programme Implementation, SBI, Institute of Economic
Growth, State Public Expenditure Review Committee. Moreover, the students hail from all parts of the country and it helps them appreciate cultural diversity and build meaningful relationships with people.

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Statistical Skills: The students have exposure to SPSS, STATA and other packages.
In particular a certificate course in R has been offered to enhance their statistical computing skills. This has widely enhanced their skill set and makes them suitable for corporate environment.

Thus students are honed in analytical thinking using a blend of theory and empirics which make them valuable assets to the organisations. This is well reflected in our
Alumni list. Despite being an academic research institute for decades, our students are occupying high positions not only in academia but in corporate, media, politics and government which is a testimony of the invaluable gains one receives here during their training in Economics. In particular, our graduates would fit in Data Analytics,
Macroeconomic Research, Banking and Financial firms, Media Houses and Nongovernmental Organisations.
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STUDENT’S PROFILE:
M.A. APPLIED ECONOMICS
(2013-15)

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CONTACT US

Contact Information
Arrangements can be made for telephonic interviews and video conferencing with students. In case of any enquiry contact: [e-mail]. Faculty
Dr. Sunil Mani
M.A. Programme Coordinator,
Centre for Development Studies
Prasanth Nagar, Ulloor
Trivandrum-695011,
Kerala
Mob: [phone]
Tel: [phone]

Students:
Kuldeep Changia
Mob: [phone]
Nitish Kashyap
Mob: [phone]
Vinith Kurian
Mob: [phone]

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