Real world economies characterized by the dynamic processes of production, consumption, distribution, and accumulation/growth need to be oxygenated regularly through various economic policy measures considering the particular social and institutional contexts. This understanding must also include the equally fundamental role of markets. It is pertinent to note that the process of oxygenation is needed on a continuous basis. Shocks like Covid-19 are part and parcel of the game, and the challenge is to steer clear of the bottlenecks for the continuous sustenance of the society.
Stadial/stages view of growth partly inspired by Adam Smith, the Father of Economics suggests that the growth of the world economies have undergone distinct technological breakthroughs and re-organization of the social and institutional set-ups. This partly explains the transition from Feudalism to Mercantilism to the modern-day Capitalist economies. Any instruction in economics cannot afford to miss this rich historical and social conditioning of the real-world economic processes and a holism of approaches that would go a long way to shape better economists for a realistic approach. It is towards this approach of holism and realism that KCLAS Economics aspires to tread on shaping the young minds.
The KCLAS Economics undergraduate BA programme is an elegant mix of theoretical, quantitative and applied courses spread over three years of the programme as Core, Allied and Elective courses giving students the freedom to specialize their interest. Along with the foundational courses of Micro and Macroeconomics, courses like Development Economics, Monetary Economics, International Economics and Public Finance related courses are well complemented by quantitative courses of Mathematical Economics, Statistics and Econometrics. Applied economics courses like Agricultural Economics, Industrial Economics, Demography, Tourism etc. enrich the learning processes of the students. The skill-based course like Financial Accounting, Trade Documentation, Computer Applications etc. add more value to the programme.
The teaching and learning process is taken to a higher level with the trademark KCLAS Edge and Edge+ activities. The students are exposed to Expert Conversations by eminent guests from academia, industry bodies and policy think tanks. Handson workshops and one tailor made certificate course each semester, field works, online courses, industrial visits give students an in-depth knowledge of the current trends in the field of specialization. These activities place the students in the right stead when they graduate and choose to pursue higher education or immediate careers.
The modern economies characterized by business cycles, where investment, output and employment take a hit and the reversals leading to normal course of economic operations present challenging tasks for Economists. Keynes’s General Theory was phenomenal in giving some blueprints in managing the economies and so were his suggestions which bailed out the world economies from deep depressions of the 1930s. It is pertinent to note that a strong orientation with a right mix of theory and quantitative techniques is needed at the foundational stage of under-graduation. KCLAS Economics is proud to say that it has set its action agenda in place to shape the future economists. We ideate. We are KCLAS Economics.