The discipline of Economics, arguably, is at the core of all management principles. Indeed the basic principles of Marketing, Financial, Human Resources, Strategic, Organization Design and General management would easily find overlap with some Economic theory. It is then essential to understand the economic and policy environment within which businesses function.
The Economics department at IIM Indore is engaged in a variety of activities. The department is significantly involved in teaching in the integrated programme (IPM) where the curriculum is benchmarked to the best of three-year Economics honours programmes in India and abroad. The other significant commitment include teaching foundation and elective courses in the two-year MBA and Executive programmes.
The department has expertise in almost all the major areas in economics such as Applied Microeconometrics, High Dimensional econometrics, Game theory and Mechanism design, Choice theory and Welfare economics, Productivity and Efficiency analysis, Development economics, Poverty and Inequality, Institutional economics, Environmental economics, Formal and Informal Labour markets, Migration, Direct and Indirect tax, International Trade, Structural Transformation and Economic Growth, Fiscal federalism and Regional economics, International finance and Banking, Monetary Economics and so on.
The faculty members of the department are actively engaged in research and have multiple publications in the following journals.
Social Choice and Welfare, Games and Economic Behavior, Journal of Business Ethics, World Development, Economic Modelling, Journal of Development Studies, Review of Development Economics, Journal of Institutional Economics, Oxford Development Studies, Oxford Economic Papers, Regional Science and Urban Economics, Food Policy, European Journal of Political Economy, Journal of the Operational Research Society, the Journal of Business Logistics, Economic and Political Weekly, Journal of Developing areas, Economic Papers, International Journal of Social Economics, Ecological Indicators, International Journal of Green Economics, Desalination and Water Treatment, Poverty and Public Policy, Review of Economics and Institutions, Keio Economic Studies, Indian Journal of Economics, Analytique, International Journal of Corporate Governance, Journal of Public Affairs, International Journal of Technology Management and Sustainable Development, Journal of Emerging Market Finance, Finance India, Bank Parikrama, Thunderbird International Business Review, World Economics.
The department regularly offers the following elective courses across different programmes.
International Finance, Macroeconomics of Developing Economies, Indian Economy and Public Policy, International Trade, Tax Management, Competition Policy, Economics of Strategic Interaction, Monetary macroeconomics, Game Theory, Market Design, Behavioural economics, Public Finance, Environmental economics.
The department also has a strong Fellow Programme in Management (equivalent to PhD) where students go through a rigorous coursework comprising all the standard Graduate level courses like Advanced Microeconomics, Advanced Macroeconomics, Mathematical Economics, Advanced and Applied Econometrics, International Trade, Development Economics, Growth Theory, Monetary theory and Policy, and Game Theory. The usual duration is about four years including the coursework phase. For details please check http://www.iimidr.ac.in/academic-programmes/fellow-programme-in-management-fpm/
The department continuously looks for faculty and graduate students. Feel free to contact any of the area members or write to areachair-economics @ iimidr.ac.in.
- Finance & Accounting
Finance and Accounting (F&A) Area has experienced and young faculty in all functional areas of Finance and Accounting. Area faculty has teaching, research and consulting expertise in financial accounting, managerial accounting, corporate finance, corporate governance, financial markets and institutions (including banking and insurance) and issues related to behavioral finance.
The area faculty offers a large number of electives, across post graduate and doctoral level programs, which interlink different facets of finance and accounting with various case studies and simulations involving real-time financial data. The area faculty maintains a high-end financial trading lab through which participants learning is enriched with real-time examples. Besides offerings in the long-duration programs, area faculty also offer customized executive education programs targeted at finance professionals through on-campus; on-site and broadband-based programs.
F&A Faculty members’ research explores both firm-level and economy-level financial decisions and as well examine the impact of several regulatory changes of Indian corporate sector.
- Strategic Management
There are nine faculty members in the Strategic Management Area. Diversity is central to the area, and its key strength. Faculty members bring in extensive industry experience in operations, regulation, manufacturing, and consultancy from prior roles in the government and private sectors.
The Strategic Management area faculty have research interests in business ethics, business history, business models, complexity theory, entrepreneurship, globalization and its effects, innovation, international management, mergers and acquisitions, public sector management, strategic decision making, top management teams, etc., in a very diverse set of industries that includes FMCG, manufacturing, media, telecom and transportation. Area members have published in leading journals like Asia Pacific Journal of Management, Computational and Mathematical Organization theory, Decision, Global Strategy Journal, Journal of Business Ethics, Journal of Business Research, Journal of World Business, MIT Sloan Management Review, Thunderbird International Business Review among others.
Faculty members of the Strategic Management area have extended consulting services to international agencies like World Bank and UNDP, central and state government ministries, public sector organizations, and the private sector. Faculty members have authored books and book chapters on Strategic Management, International Business and Best Business Practices.
The area offers two doctoral programs, one full-time, residential program and one part-time non-residential doctoral program for participants working in the industry. Our doctoral fellows have been placed at some of the leading management institutes in the country including IIMs Lucknow, Amritsar and Sirmaur and Thapar University. Some others have returned to their parent organizations in the government—for example, Income Tax and BSNL—to positions of enhanced responsibilities. As of 2018, the area has an enrolment of nine doctoral students in the full-time residential program, and ten candidates in the industry doctoral program.
The area offers compulsory courses in Strategic Management covering business strategy in Term II and corporate strategy in Term III for the flagship MBA program. Besides this, the area also offers over twenty electives courses for second year MBA students, covering International Management, Mergers and Acquisitions, Business Models, Strategy Consulting, Entrepreneurship, Competing with Capabilities, E-Business Strategy, etc. Most recently, the area has been offering Strategy Simulation as an elective to expose students to the integrative way in which businesses work and function.
D. L. Sunder