Dr. C. Rangarajan

Chairman, Madras School of Economics

Fmr. Chairman, Prime Minister's Economics Advisory Council

“The unique feature of Madras School of Economics is the complementarity which emphasizes between teaching & research...”

“This year in India, we are marking a quarter century since the forces of liberal-ization, marketization and globalization started to move the economy on an upward development trajectory and make India count as one of the better eco-nomic performers among the family of nations. During the same time period, the demand for sound economies and financial literacy has been steadily in-creasing. The Madras School of Economics (MSE) is also completing two decades since its founding by well known economists, Dr. Raja Chelliah with support from in-dustrialists, the Government of India, and many public sector banks. Within a short span of time, it has emerged as one of the leading institutions in both teaching and research of economics, especially in South. At a time when eco-nomics and finance have been critical subjects of inquiry, we are heartened to have our students come from all parts of the country seeking a top class Mas-ter’s degree. We even have a small and growing Ph.D. program. The Institute is privately funded (and not for profit) and MSE’s activities are guided by an inde-pendent Board of Governors under the visionary leadership of its current chair-man, Dr. C. Rangarajan. Potential employers of MSE graduates will find our students to be well versed in economic theories and have a command of quantitative techniques and econometric software; our students will also be aware of the macroeconomic environment, conscious of economic policy dilemmas, and last but not least, have a well developed sense of social responsibility. MSE alumni have been well over the years and work in various fields ranging from academia to analytics, from banks to NGOs, and from re-search think tanks to policy making bodies. The current batch of graduates seems to be a very cohort and I am sure they will continue to keep the MSE name fly high. I wish them a wonderfully successful and productive year!”

-Dr. Sunder Ramaswamy

Director’s Message

With the motto of Mentoring Scholastic Excellence, MSE has grown from a stu-dent population of 10 in a batch to 100 plus students in less than two decades. By the time the students complete the master’s program, they have been ade-quately exposed to the economic theories from different sub-disciplines of eco-nomics, have a good understanding of the basic econometric techniques includ-ing practical training to analyze data using different softwares commonly used in the analytics industry. Many of these courses include terms papers and presenta-tions which further prepare them to use their soft skills to communicate their analysis and encourages them to work in a team. Apart from academics, students also have enough opportunities to pursue other co-curricular and extra-curricular activities enabling them to shape up into a more rounded personality. Our alumni who pursue higher studies in some of the top schools in other parts of the world find that our curriculum is comprehensive enabling them to compete with their peers and in ad-vancing their career in academia. The large majority of our students who pursue their career in analytics reach senior positions in a short span of time; many of them have been awarded ‘best employee’ within a couple of years of joining the organization. It is hoped that you will find a very enthusiastic set of young minds ready to take up challenges in your organi-zation. Wishing them all the best,

Brinda Viswanathan (Faculty Coordinator, Placements)

Placement Coordinator’s Message

About MSE adras School of Economics was founded in 1995, with the vision to establish a largely privately funded independent institution of higher learning in the vital field of social sciences. In a very short tenure, the institute has been able to make a mark for itself among the leading economics institutions of India.

All five programs offered at the institute provide a wide range of electives to the students. It equips them with combination of quantitative techniques and value focused decision making ability. Owing to its excellence, The National Assessment and Accreditation Council (NAAC) awarded MSE an ‘A’ grade and The Ministry of Environ-ment, Forest & Climate Change has designated MSE as a Centre of Excellence in Environmental Economics. Madras School of Economics, with its very active research unit and well formulated curriculum, has made its presence felt in both the government as well as the corporate sector. Yet, through a flexible system of electives students have the opportunity to tailor their course of study to reflect their specific interests. The admission process, prospective of MSE aspirants have to go through is rigorous to say the least. A strong mathematical aptitude is a pre-requisite for admission into any of these five programs. Every student has to complete four semester of meticulous academic work. There is also a strong stress on building individual re-search capabilities as students are given an option to prepare and present papers and submit a dissertation in the fourth semester that is subject to rigorous evaluation process and those who don’t do a dissertation are re-quired to do coursework for equal credit. Moreover, during the course of 2 years, students are scrupulously pre-pared to add value to themselves and the organizations they would work with. With in-depth subjective knowledge and wit, the students here have proved themselves conduit to the various sectors they have worked in, including consumer and corporate banking, academia, investment banking, analytics, research cells and vari-ous government bodies. All these ensure our recruiters, from every field can expect and get a pool of extremely talented students.

M

KEY FOUNDERS OF MSE

Dr. C. RANGARAJAN

FORMER GOVERNOR (RBI);

PRIME MINISTER’S ECONOMIC ADVISORY COUNCIL

Dr. KAUSHIK BASU

SR. VICE PRESIDENT & SCHIEF ECONOMIST,

WORLD BANK

Dr. MONTEK SINGH AHLUWALIA

FORMER DEPUTY CHAIRMAN, UN-ION PLANNING COMMISSION,

GOVERNMENT OF INDIA

Dr. A. C. MUTHIAH

CHAIRMAN & PRESIDENT, SOUTHERN PETROCHEMICALS

INDUSTRIES CORP.

Dr. RAJA J. CHELLIAH

EX. MEMBER OF FINANCE & PLANNING COMMISSION, GOVT.

OF INDIA

BOARD OF GOVERNORS OF MSE

Dr. A.C. Muthiah - Chairman Emeritus, SPIC Ltd.

Mr. T.M. Bhasin -Chairman & Managing Director, Indian Bank.

Dr. M. Govinda Rao - Former Director, NIPFP

Prof. R. Radhakrishna - Chairperson, Madras Institute of Development Studies

Shri. S. Viji - Chairman, Brakes India Ltd.

Dr. M. Anandakrishnan - Chairman, IIT Kanpur, & Science City, Chen-nai

Shri. K Shanmugam, I.A.S. - Secretary to Government, Finance Depart-ment, Government of Tamil Nadu

Dr. U. Sankar -Hony. Professor, Madras School of Economics

Dr. K.R. Shanmugam - Director and Professor, Madras School of Eco-nomics

Shri. R.S. Ahlawat - Senior Advisor, Ministry of Environment and For-ests, Paryavaran Bhavan.

Shri. Jagdish Pai K.L. - Executive Director, Canara Bank, Head Office, Bangalore.

Shri. S.L. Bansal - Chairman and Managing Director, Oriental Bank of commerce

Shri. M. Narendra - Chairman and Managing Director, Indian Overseas Bank

Shri. S.K. Jain - Executive Director, Union Bank of India

Prof. A. P. Dash - Vice Chancellor, Central University of Tamil Nadu, Thiruvarur

Ms. Varsha Purandare - Chief General Manager, State Bank of India

Shri. K.S. Sreenivasan - Director, Oriental Bank of Commerce

PAST RECRUITERS

PLACEMENT SNAPSHOT 2016-17

OVERVIEW OF PROGRAMMES

Actuarial Economics

One of the most significant recent develop-ments in the global financial industries has been the privatization and large-scale expan-sion of insurance industry, which has led to increased demand for Actuaries. Actuarial Economics Course at MSE in collaboration with CUTN was designed with this in mind i.e., essentially to deal with the education of Economics of Insurance, Insurance Risk, and Financial Management. This programme seeks to offer in the first year, an intensive training in understanding economic and financial theories to study the uncertain future events and also cover the latest syllabi prescribed in the Core Technical stage by the Actuarial Society of India (ASI). In addition, the course provides the students an opportunity to equip themselves with the knowledge of econometric applications .

Two-Year M. Sc. Economics The PG Degree course is a two-year course, divid-ed into four semesters. In the first year, there are 8 core courses. In the second year, the first mod-ule comprises two core papers and two optional (elective) papers.

Five-Year Integrated M.Sc. Economics

The Central University of Tamil Nadu in collabora-tion with the Madras School of Economics (MSE) offers the five-year Integrated M. Sc. Economics, divided into ten modules. First six modules are taught at the Central University of Tamil Nadu, the remaining four modules are taught at the mentor-ing institute Madras School of Economics. After the completion of the third year, students join MSE along with two year program students.

Programmes offered: i) M. Sc. Actuarial Econom-ics ii) M. Sc. Applied Quantitative Economics iii) M. Sc. Environmental economics iv) M. Sc. Finan-cial Economics V) M. Sc. General Economics.

Environmental Economics

Growing evidence on trade-environment inter-linkages and potential challenges that the world economy has to face due to global climate change is the principal motive behind introducing this two-year post graduate degree program in Environmental Economics. The objective of this program at MSE in collaboration with CUTN is to provide students with rigorous and specialized training in economics of the environment. The degree is designed for individuals with a strong background in mathematics and good ex-posure to basic economics. On the completion of masters degree, all students will have well devel-oped skills in quantitative analysis and modelling with an understanding of economic approaches to resolve the challenges of resource over-exploitation and misuse of the environment.

Applied Quantitative Finance

The ability to adequately capture stylized facts in financial markets depends crucially on good mod-els and their evaluations. Recent advances in Sta-tistical, Econometric and Analytical modelling techniques has enhanced the scope for a compre-hensive and timely analysis of related issues. Con-sequently, there has been an exponential increase in the demand for qualified analysts.

The course is geared towards presenting the cen-tral concepts in clear, analytical, mathematical and computational details with an emphasis on the un-derlying institutional factors. The students are rig-orously mentored over the course of two years to emerge as professionals, equipped with leading-age quantitative and analytical tools, highly valued by employers in financial markets across the globe.

General Economics

The program has been designed and developed as a unique, application oriented course in eco-nomics which is very relevant for today’s liberal-ized economic environment. The core subjects lay the foundation for the very basic theory and various specializations offered give students a feel of how it is being played out in real econo-mies. As part of the curriculum, students are required to do assignments and presentations involving considerable amount of teamwork and a pru-dent evaluation structure. With in-depth subjec-tive knowledge and wit, the students here have proved themselves conduit to the various sectors .

Financial Economics

It is one of its kind niche courses in finance meant to effectively cater to the needs of the fast grow-ing Indian financial sector. The students qualifying to take up the course are trained to meet the de-mand for financial practitioners. They are well equipped with a good foundation in economics, mathematics and statistics and also well trained with emerging theoretical and empirical tools for a better understanding of the sector.

In the challenging economic scenario, MSE en-courages students to emerge as enterprising fi-nance professionals who don’t just react and adapt to challenging trends but are capable of evolving as agents of change.

Note: Electives offered are open to all the courses, except a few for which have subjects as prerequisite. (Abbr.: C=Core; GE, AE; EE, FE & AQF= General, Actuarial, Environmental, Financial Economics and Applied Quantitative Finance respectively.) The Core subjects of few courses are offered as an elective to others.

ELECTIVES OFFERED Agricultural Economics Advanced Technique in Finance Environmental Valuation [C]

Applied Macro & Financial Econometrics [C] {for FE & AQF}

Economics of Global Climate Change Environment and Health

Applied Micro Econometrics [C] {for GE, AE and EE} Economics of Insurance II (Pre-requisite Econ of Insurance I) [C]

Financial Economics II (Pre-requisite Financial Economics I)

Economics of Insurance I [C] Empirical Methods in Finance Financial Regulation and Banking Supervision

Energy, Economics and Environment Environmental Policy [C] Fixed Income Securities

Games and Information Finance and Financial Reporting [C] International Finance [C]

Health Economics Financial Instruments and Markets [C] Macroeconomics II [for FE and AQF]

Industrial Development and Industrial Organization Financial Market Microstructure Microeconomics II [for AE]

Investment Banking Financial Regulation and Banking Supervision Multinational Enterprises and Industrial Policy

Programming and Computational Languages Interest Rate Calculation and Option Pricing [C] Agricultural Development & Policy

Risk Analysis and Management [C] Regional Economics Survival Model

International Trade & Finance Risk Management - Theory and Practice [C] Sustainable Development [C]

Stochastic Models Risk Model

CORE PAPERS

Actuarial Economics Applied Quantitative Finance Environmental Economics Financial Economics General Economics

Microeconomics I Microeconomics I Microeconomics I Microeconomics I Microeconomics I

Macroeconomics I Macroeconomics I Macroeconomics I Macroeconomics I Macroeconomics I

Statistical Methods Statistical Methods Statistical Methods Statistical Methods Statistical Methods

Mathematical methods Mathematical methods Mathematical methods Mathematical methods Mathematical methods

Financial Mathematics Microeconomics II Microeconomics II Financial Mathematics Microeconomics II

Actuarial Mathematics Econometric Methods Econometric Methods Microeconomics II Macroeconomics II

Econometric Methods Financial Mathematics Introduction to Environmental Systems Econometric Methods Econometric Methods

Financial Economics I Financial Economics I Resource and Environmental Economics Financial Economics I Public Economics

Applied Micro-econometrics Applied Macro & Financial Econometrics

Applied Micro-econometrics Applied Macro and Financial Econ-ometrics

Applied Micro-econometrics

Economics of Insurance I Risk Analysis and Management Environmental Valuation Financial Economics II Development Economics

Economics of Insurance II Financial Instruments and Mar-kets

Sustainable Development International Finance Institutional Economics

Finance and Financial Reporting Interest rate Calculation and Op-tion Pricing

Environmental Policy Risk Management-Theory & Prac-tice

Indian Economic Development

COURSE STRUCTURE

PLACEMENT PROCESS

FAQ’s: Q1. How are slots allocated to companies during the Placement Season? Slots are allocated in accordance with the following points- Years of Association with the Institution

Remuneration Offered Market Reputation and Goodwill of the Company

Alumni Feedback Job Profile

Number of Positions Offered Q2. What facilities are available to an on-campus recruiter? Companies have an option of conducting their recruitment processes either on-campus or off-campus. For

on-campus recruitments, the college shall provide appropriate and need based spaces (classroom and con-ference rooms) that are large, spacious and fully air-conditioned. Every room allotted to companies will

have provisions for the usage of projectors for presentations and audio systems for conducting talks/seminar. Q3. Will the company have a particular point of contact in college for the recruitment process?

Yes. Every company is assigned to a particular student representative from the Placement Cell who will help facilitate the placement process both on and off campus. He/she will serve as liaison between the

company and college. The student representative can be contacted via both email and telephone and will assist the recruiters in every way possible before, during and after the recruitment process.

Q4. Can the company conduct telephonic interviews or interview candidates over video calls? The Placement Cell places no restrictions regarding the format employed for placement interviews. The companies can carry out their recruitment process in whichever format they deem fit; the Placement Cell

shall ensure that it is carried out smoothly and efficiently. Q5. Can a student who has been recruited by a company apply at another company that is expected

to subsequently visit campus for placements?

No. Once a student receives a final job offer, he/she shall not be permitted to apply to any other company.

However, he/she is not prohibited from applying off-campus to other companies on their own.