IIM Calcutta - Executive Programme in Global Economics

Indian Institute of Management Calcutta is one of the highest ranked business schools in the world. In Financial Times (FT) Masters in Management 2013 Global Rankings, IIM Calcutta is ranked No 1 in Finance and No 2 in Economics among the top 70 global business schools that offer masters in management programme. It was ranked above the London School of Economics and Manchester Business School for its management programmes. It ranks amongst top 20 B-schools in the world. For more details about the institute, visit their official website.

Program Background
Executive Programme in Global Economics has been designed to help participants gain the required insights in economic analysis and policy in a global context. The programme introduces the participants to basic economic principles, theories, tools and some important applications. After the successful completion of the programme, the participants should be better able to comprehend the significance of economic events happening around them. Why do mergers take place and why do the regulators sometimes try to stop mergers? How are markets segmented and different prices charged to different sets of customers? How is the foreign exchange rate determined and why did it increase after the US Financial crisis? What is a repo/reverse repo rate? When and why does the Reserve Bank of India increase/decrease these rates? How is recession caused? What is fiscal deficit? Why is there so much of controversy around it? Why has India been cautious in going for full capital account convertibility? Questions such as these illustrate the type of issues which will be taken up in the course.

Core Value Proposition
The business environment has changed quite radically in India in recent years. To be effective and successful, executives need to understand how the economy functions and how different economic events and policies affect their areas of operations. Such understanding is particularly essential in the complex, globalised environment in which economies operate today. The current programme is aimed at providing this understanding to the participants. Given that IIMC faculty members continuously have to relate their teaching to the real world in classroom lectures, they are particularly in a position to show participants how to apply economic understanding in day to day life.

Target Segment
The potential participants are those who require knowledge of Economics in their jobs but do not possess it and want to fill up this gap. Persons from a wide range of professions may belong to this group. Examples would be professionals in specialized fields such as a lawyer working in a law firm. The target group may also include people with MBAs or equivalent degrees/diplomas who may feel that their knowledge of Economics is inadequate. It may be noted that barring a few exceptions, teaching of Economics in management institutes in the country is not of a very high order. It is also expected that organizations such as banks will be interested in sponsoring candidates as a part of their training programmes for their officers particularly the fresh recruits. Moreover, journalists working for business magazines and newspapers will also be interested in acquiring a solid grounding in economic theories and applications.

Program Directors – Prof. Anindya Sen and Prof Parthapratim Pal
Prof. Anindya Sen is one of the global icons in the field of economics. He has done his Ph.D. from University of Southern California. To know see his complete profile and contact information, visit his official website or Wikipedia entry.

Prof. Parthapratim Pal is an Associate Professor in Economics at IIM Calcutta. He has done his Ph.D. from Jawaharlal Nehru University, New Delhi. To know see his complete profile and contact information, visit his official website.

Online Component: This component forms the core of EPGEM. Spread over 1 year it consists of six modules. Faculty from IIMC will mainly take these modules. Some guest faculty also may be involved.
Campus Component: The course will contain sessions spread over five days at IIM Calcutta's Joka (Kolkata) campus.

Online Application
You can now apply for this program online. Click here for Online Application.

To apply online, one needs to fill a simple form and pay for the application fee. Indian candidates can pay by credit card, internet banking, debit cards, demand draft or account transfer by NEFT. International students can pay by credit cards. You can send in your application online and pay later, but it will be processed after receipt of payments. Online Application form has the application fee set at Rs. 2,000 by default. International students need to pay the differential amount of Application Fee alongwith the first installment.

Schedule of Online Classes
Saturday 15.15 – 18.15 pm IST


  • Applicants should be working professionals/self-employed
  • Graduates (10+2+3)/post graduates in any discipline with min. 50% marks [aggregate- considering results of all years (e.g. 3 or 4 together)] recognized by UGC/AICTE.
  • Minimum 1 year of work experience desirable (full-time paid employment) post completion of graduation as on Application Closure Date


    I: Introductory:

    • Importance of Economics in the global environment
    • Use of Mathematics in Economics

    II: Microeconomics:

    • Demand-supply Analysis
    • Elasticity
    • Opportunity Cost
    • Production Costs
    • Firm Behavior
    • Perfect Competition
    • Monopoly
    • Pricing Strategies
    • Game Theory
    • Choice under uncertainty
    • Investment and capital markets
    • Asymmetric Information
    • Externalities and Public Goods

    III: Macroeconomics:

    • Overview of Macroeconomics
    • Measuring economic activity: National income accounting
    • Theory of aggregate demand, business fluctuations, recession, inflation
    • Fiscal policy for stabilization and growth
    • Financial markets and role of money
    • Central banking and monetary policy

    IV: Global context:

    • International Trade
    • Why countries trade
    • Theories of international trade
    • Trade pattern across the world- trade and investment linkage through production networks
    • Trade policy instruments-tariff, quota and other measures
    • WTO and Trade Blocks
    • Protectionist trends in developed countries and their possible impact on international trade of goods and services

    Capital Flows

    • Why developing countries need capital flow
    • Types of foreign capital flows
    • Foreign direct investment and foreign portfolio capital flows
    • Monetary policy and exchange rate in an open economy
    • How RBI manages exchange rate and money supply when there are large capital inflows and outflows
    • Foreign exchange reserves and their relevance in an open economy
    • Current and capital account convertibility

    Conduct of Classes
    The classes will be conducted from IIMC's studio. Select faculty from IIMC will conduct the classes. Each topic will be taught with the help of case studies, live corporate examples and general discussions. In order to provide greater industry insights, business leaders from the different industries, subject to availability, may be invited to share their experiences.

    Within India
    The classes will be made available in across the country through e-learning. The participants can also be given an option to connect from home.
    Outside India
    The program is also available outside India with a differential amount in fee.

    There will be one campus visit to IIMC. The duration of the visit will be of 5 days. The campus visit will be compulsory. The pricing for the visit is indicated separately for reference and review.

    Batch Size
    Minimum batch size of 50 students. The batch size can be increased or decreased at the option of IIMC.

    Program Roll-out Schedule
    The program will commence from November 2014 subject to minimum enrollments of 50 students.

    Learning System
    Industry tested learning system will be deployed for conducting the program. It will allow students to attend the classes from their offices or homes. A high-speed broadband internet connection is essential for students to participate in the program.

    Initially the candidates will need to send across the application forms with Application Fee only. Other fees will be payable only after acceptance by IIMC in the program. Fee Details are, as follows:

    Initially the candidates will need to send across the application forms with Application Fee only. Other fees will be payable only after acceptance by IIMC in the program. The fee is inclusive of service tax.

    All Fees are payable by Student directly to Ivory Education, unless otherwise specified

    Option 1: Downpayment

    Application FeeRs. 2,000USD 100
    Programme FeeRs. 1,00,000USD 5,000
    Service Tax on Programme Fee (@12.36%)Rs. 12,3600
    Registration FeeRs. 2,500USD 250
    Service Tax on Registration Fee (@12.36%)Rs. 309
    Campus Visit Fee (payable to IIMC)Rs. 15,000Rs. 15,000
    Service Tax on Campus Fee (@12.36%)Rs. 1,854Rs. 1,854

    Application Fee and Program Fee are paid in name of Ivory Education Private Limited. Campus Fees are payable in name of Indian Institute of Management Calcutta. Service Tax of 12.36% is as applicable for all payments. Any variation in service tax shall be to student account.

    Option 2: Installment

    DateInstallment (INR)Installment USD
    DownpaymentRs. 47,753USD 2,250
    3rd monthRs. 44,944USD 2,000
    5th monthINR 22,472USD 1,000

    Service Tax calculated at 12.36% is included in installment amount. Any variation in service tax shall be to student account. Campus Visit Fees (with applicable tax) is mandatory and additionally is payable directly to IIM Calcutta. Campus Visit Fee for installment system needs to paid with 2nd Installment.

    Ivory Education will provide assistance to candidates for availing loans from financial institutions. These institutions may extend loans to the participants subject to their own conditions. Before applying for a loan, the candidates need to be selected by IIMC for the program.

    Evaluation Methodology
    Assignments, Online Quiz & Project Evaluation by IIMC

    To complete the programme successfully and get a certificate of successful completion and grade sheet from IIMC, participants will need to complete all subjects with not more than 2 poor grades (out of four grades, namely, “Excellent”, “Good”, “Average” and “Poor”). Others would receive a certificate of participation.

    IIM Calcutta shall carry out the examination and evaluation required for certification. IIM Calcutta will directly award a certificate to participants who complete the programme successfully.

    Giving feedback is an integral part of the completion requirements of the programme.

    - In-company
    - Retail

    Placement Assistance
    Placement Assistance is provided to the candidates who successfully complete the program by Ivory Education. No placement assistance will be provided by IIMC. Candidates who are nominated by their company will not be eligible for any placement assistance.

    More details
    For more details, contact us on 0124-2455035 (Monday-Saturday, 10:00am to 6:30pm) or email iim@indialearn.com. Those outside India can call us on +91-124-2455035.

    Online Application
    Visit www.ivoryeducation.com