Welcome To

Meghnad Desai Academy of Economics

MDAE believes that the true purpose of education is to liberate the minds of young students. Set-up in 2014, at Mumbai, under the able guidance of Lord Meghnad Desai, Professor Emeritus, London School of Economics, the focus of the academy is to address the yawning gap between what the market needs and what traditional colleges offer. Through an amalgamation of theoretical rigor, interdisciplinary exposure and mentorship, the Academy prepares students for real life, by teaching them how to think and not what to think!

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Young Economist Research Competition

We are excited to announce the 9th edition of the Young Economists Research Competition. This year’s competition is open to undergraduate students from all disciplines. Participants can choose from six engaging topics and will present their research papers to a panel of esteemed judges. Please note that students must register in pairs.

Deadline for registration: 25 November 2024

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Yashika Doshi at MDAE, 9th November 2024

Yashika Doshi recently returned to MDAE to share her experiences in an engaging seminar on the 9th of November, 2024. She opened her talk by reflecting on her time at MDAE, emphasizing how formative the experience was for her. She highlighted the invaluable relationships she built during her studies, and how these connections, alongside her academic learnings, continue to enrich her both professionally and personally. Yashika encouraged the current cohort to make the most of every opportunity, stressing the importance of hard work and dedication in laying a strong foundation for their careers.

Yashika then detailed her professional journey, which began at Aditya Birla Management Corporation and progressed through impactful roles at Exim Bank, culminating in her current position at Artha Global. She shared insights into the variety of roles she's held, explaining how each position expanded her skills, refined her perspectives, and shaped her professional path.

The seminar concluded with an interactive Q&A session, where Yashika candidly addressed student questions on a wide range of topics. From her experience in policy work and strategies for acing interviews, to her personal decision to relocate to India from the UK post-masters, she offered honest and practical advice, leaving students with much to consider as they advance in their own careers.

The session left students feeling inspired and motivated, with a renewed appreciation for the potential paths their own careers could take. Yashika’s openness and encouragement reminded everyone of the value of resilience, adaptability, and continuous learning in building a meaningful career.

NSE Visit: A Valuable Learning Experience

Session with Mr. Raza

Our visit to the National Stock Exchange (NSE) was truly eye-opening, as it guided us through a spectrum of financial concepts, from the basics to advanced market dynamics. Starting with fundamentals, Mr. Raza introduced us to major stock indices like Nifty and Sensex, which track the performance of top companies. Learning about these indices gave us a practical understanding of market trends and how they reflect broader economic changes. We also explored index funds, as well as the distinctions between shares, bonds, government securities, equity, and debt—essential building blocks in finance.

As we progressed, Mr. Raza introduced us to more complex topics such as futures, options, and derivatives. He further explained the differences between large-cap, mid-cap, and small-cap stocks, helping us see how these classifications impact investment strategies. One especially fascinating part of the session was hearing about the early history of stock trading, when brokers used hand signals to communicate before digital platforms existed. This led us to the hands-on segment of the session, where we learned to efficiently navigate the NSE website, gaining real-time insights into the exchange’s operations.

This introduction to financial principles laid a strong foundation for the next session with Dr. Tirthankar, who expanded our understanding of high-speed and high-tech trading strategies.


Session with Dr. Tirthankar

Building on what we learned with Mr. Raza, Dr. Tirthankar’s session focused on High-Frequency Trading (HFT) and how technology has transformed the financial landscape. He explained how powerful computers execute thousands of trades within fractions of a second in HFT, a concept that connected well with the technical knowledge we had just gained. This discussion also opened our eyes to various career opportunities within HFT, blending finance with advanced computing.

Dr. Tirthankar then introduced us to the Limit Order Book, explaining how limit orders allow traders to buy or sell securities at specific prices or better, reinforcing our understanding of strategic trading tools. By covering how buy and sell limit orders work, he gave us deeper insights into practical trading methods.

To round off the day, Dr. Tirthankar discussed the growth of trading in India, highlighting the incredible daily trading volume: over 14 billion derivatives are traded, which signals exponential growth in market participation. This data illustrated how finance in India is expanding, giving us a broader perspective on our economy's potential.

Our visit to the NSE was a transformative learning experience, linking fundamental principles with real-world applications and advanced trading technology, equipping us with both the theoretical knowledge and practical skills essential for navigating the financial world.

Highlights from Nishtha Mehta's Seminar on Credit Risk Management at Meghnad Desai Academy of Economics

On September 21, 2024, we had the privilege of hosting an insightful seminar on Credit Risk Management (CRM) led by Nishtha Mehta at the Meghnad Desai Academy of Economics. The session delved deep into the intricacies of CRM, emphasizing its crucial role in safeguarding the financial stability and profitability of institutions.

Nishtha expertly covered the fundamentals of credit risk, including the different types—such as default risk and counterparty risk—and the importance of a robust CRM framework. She also discussed the latest methodologies in credit risk assessment, blending qualitative and quantitative approaches, and introduced key modeling techniques like Probability of Default (PD), Loss Given Default (LGD), and Exposure at Default (EAD).

The seminar also explored strategies for effective credit risk monitoring, reporting, and mitigation, with a focus on industry best practices and the impact of regulatory frameworks like Basel III and the Dodd-Frank Act. Nishtha also took the time to address numerous student queries, providing clarity and further insights on the topic.

This seminar was a valuable learning experience for all attendees, providing actionable insights into the challenges and strategies essential for managing credit risk in today's dynamic financial environment. We're grateful to Nishtha Mehta for sharing her expertise and contributing to our ongoing commitment to academic and professional excellence.

Lord Desai's interaction with the students

On the 5th of September, 2024, Lord Meghnad Desai visited MDAE, a visit made even more special by the fact that it coincided with Teachers' Day. He spent several hours engaging with the enthusiastic MDAE batch of 2024-25, who eagerly asked him questions on a wide range of topics, from Bollywood and the rise of AI to his experience as a naturalised British citizen. The interaction began with Lord Desai sharing his approach to understanding the world through the lens of politics and economics. He highlighted how being curious and viewing events through an economic perspective can deepen one's grasp of economic theories and their practical application. This, he noted, is also crucial when selecting a thesis topic, as choosing something truly interesting and meaningful fuels genuine curiosity and enriches the research process.

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Post Graduate Diploma in Economics

  • Specializations – Data Analytics | Finance | Public Policy
  • Mode: 1 Year, Full-Time, Classroom Based.
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Post Graduate Diploma in Data Science & Finance

  • Mode: 1 Year, Full-Time, Classroom Based.
Know More Course documents available for download
Shailesh sir helped me overcome my fear of mathematics. I had never experienced such engaging and interactive teaching before and I thoroughly enjoyed all of his sessions. Despite coming from an arts background with limited exposure to math, I was able to score the second highest in my class. I credit my success in his course to the enjoyable nature of his classes and the helpfulness of his tests.
Ms. Akanksha Das

Alumni, PGD Economics,
Batch of 2023-24

Sir did an excellent job. I have noticed improvements in myself and I am much more comfortable tackling math problems, which I couldn't do two months ago.
Mr. Anshuman Dohare

Alumni, PGD Economics,
Batch of 2023-24

I took up MDAE's PGD in Data Science & Finance (2023-2024) after a degree in Actuarial Science, and 1 year as an Actuarial Associate in an insurance company. I studied courses at MDAE such as Python, Econometrics, Data Analysis, SQL, Data Visualization, and Machine Learning. This helped me compliment my actuarial knowledge. I have now been hired by M&G PLC, an Insurance Consulting organization. I am a more versatile Actuarial Analyst now on account of the MDAE program. My CTC went up 1.75 times after the MDAE Program.

Nikhil Kulkarni, Actuarial Analyst at M & G
MDAE Alumnus, PGD Data Science and Finance

I took up MDAE's PGD in Data Science & Finance after a BAF degree, having completed 8 exams of actuarial science and 1.5 years as a Consultant in an insurance company. I studied courses at MDAE such as Python, Econometrics, Data Analysis, SQL, Data Visualization and Machine Learning. This helped me compliment my actuarial knowledge and double my compensation as a Senior Executive (Pricing) when I returned to a job after MDAE. I am a more versatile Actuarial Analyst now on account of the MDAE program.

Jainam Gada, Senior Executive Pricing, RGA
MDAE Alumnus, PGP Data Science and Finance

I recently received the prestigious Lord Meghnad Desai Best Dissertation Award at MDAE. Prof Shreshti Rawat's teachings have been very helpful and are a great base to build more knowledge upon. To give a snapshot, I worked on family structure and its impact on female labour force participation. I used the log-likelihood of a married woman staying in a joint family as an instrumental variable to tackle endogeneity. This went into another linear probability model for family choices, and those predicted probabilities later served as one of the instrumental variables in my main model. Prof Shreshti Rawat's class was a game-changer for grasping this stuff.

Mr. Drumil Shah, Senior Executive, Deloitte
MDAE Alumni 2022-23

My journey from Meghnad Desai Academy of Economics (MDAE) to Nielsen has been both challenging and rewarding. At MDAE, I developed strong skills in data analysis that really opened up exciting opportunities for me. The courses I took in Maths, Stats, Advanced Microsoft Excel, Econometrics. Python Programming, Data Analysis, SQL, Power BI, Machine Learning set me up for a career as a Data Analyst. MDAE placed me from campus as a Political Consultant at Varahe Analytics. There I managed projects like a survey on bus services in Himachal Pradesh. I am now preparing to step into my new role as a Live Data Production Editor at Nielsen in Mumbai, in a global, fast-paced environment. I’m looking forward to applying my skills to analyze live data for rugby and football matches.

Shivam Nayak, Live Data Production Editor at Nielsen
MDAE Alumnus, PGD Data Science and Finance

Mr. Mahesh Vyas, MD & CEO-CMIE at MDAE

A decent job is characterised by a written contract, paid leaves, and social security.

CMIE has been recording unemployment data since 2016, revealing a disconnect between growth and employment in India. From 2016 to 2024, labour force participation has declined by 4%, and the employed population has declined by 6%, while the proportion of unemployed population was at a steady state at 8%.

The RBI’s focus on the trade-off between inflation and growth overlooks the crucial trade-off between inflation and unemployment rate.

Entrepreneurship is rising, but we need large-scale entrepreneurs who can provide employment to large populations rather than those disguised in the form of self-employed. Women face systematic disadvantages in employment.

Listed companies should grow their net fixed assets to hire more as Governments and large companies are best suited to provide decent jobs. To sum up, providing poor quality jobs to many, high-paying jobs to a few, and excluding women is not the path to a robust and inclusive recovery.

MDAE Events

How to prepare for Consulting Interview

17th Oct, 2024 07:30 PM

Econometrics and Causal Inference: Navigating the challenges in Empirical Research

08th Oct, 2024 02:30 PM

Digitalization and its Impact on India's Informal Economy

08th Oct, 2024 11:00 AM

Bridging Theory and Practice

05th Oct, 2024 01:00 PM

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