2. THE ECONOMICS CLUB, MUMBAI
The
Road
Ahead…
• Background
• Research objectives
• Survey of Employers
• Survey of Recent Economics Graduates
• Bridging the gap
3. THE ECONOMICS CLUB, MUMBAI
Background…
• Indian economy
Ø high growth rates
Ø managed to survive the global slowdown
Ø increasingly favourable investment climate
Ø Huge domestic demand fuelled by a growing middle
class
• Need for economists who can:
Ø analyse both the domestic market as well as global
trends and predict opportunities
4. THE ECONOMICS CLUB, MUMBAI
Background…
• Increasing employment opportunities available
• Yet organisations are facing a shortage of skilled and
competent manpower!
5. THE ECONOMICS CLUB, MUMBAI
Employability
–
a
key
concern
• Do employers feel that economics graduates have the
requisite skills and competencies?
• If there is a skill gap, how can it be filled?
• What steps should institutes teaching economics take to
develop inadequate skills?
• How can students be taught to apply their skills in the real
world?
• How do we make economics graduates “employable” in the
true sense of the word?
7. THE ECONOMICS CLUB, MUMBAI
ObjecGves
• To elicit responses with respect to the skills and attributes
that enhances employability for economics graduates
• To understand the attitude of potential employers towards
economics graduates
• To identify skill gaps vis-a-vis the needs of employers
• To come up with measures to fill these gaps by
– Elaborating the role of educational institutions and academics
– Identifying areas of industry-academia partnership
9. THE ECONOMICS CLUB, MUMBAI
Survey
SECTORS
COVERED
UNDER
THE
STUDY
%
Consultancy 14.28
Banking 21.42
Fin.
Services 14.28
Govt.
Services 7.14
Think
Tank 14.28
NGO 7.14
Manufacturing 7.14
Others 14.28
10. THE ECONOMICS CLUB, MUMBAI
Key
tasks
performed
by
economics
graduates
ACTIVITIES
OF
ECONOMICS
GRADUATES
IN
THE
ORGANISATION
(%)
Data
CollecGon 57.14
Research 100
Policy
Making 35.71
StaGsGcal
/
MathemaGcal
Analysis 71.42
AnalyGcs 50
Corporate
finance 14.28
Training 21.42
20. THE ECONOMICS CLUB, MUMBAI
MEASURES
TO
INCREASE
EMPLOYABILITY %
UpdaGng
Curriculum 92.85
Use
of
beIer
reference
books 50
Adopt
case
study
methodology 100
Adopt
simulaNon
based
learning
approach 42.85
Assignments
and
projects 100
Mandatory
dissertaNon 7.14
VisiGng
faculty
from
industry
92.85
Encourage
guest
lectures 57.14
Improve
communicaGon
skills
of
students
85.71
Use
of
technology
and
social
media
35.71
Encourage
students
to
keep
themselves
updated 78.57
Introduce
group
projects 21.42
Encourage
discussions
on
economic
issues 85.71
Introduce
compulsory
internships 50
21. THE ECONOMICS CLUB, MUMBAI
INDUSTRY-‐ACADEMIA
COLLABORATIONS
TO
INCREASE
EMPLOYABILITY
%
CreaGng
internship
opportuniGes 85.71
FacilitaNng
exchange
programmes
among
universiNes/colleges 42.85
Taking
guest
lectures
at
colleges 92.85
FacilitaNng
Industrial
visits 50
Working
together
on
curriculum
development 71.42
IntroducNon
to
short
term
courses/summer
school 42.85
Carrying
out
teacher
training 64.28
CreaNng
entrepreneurship
cells
in
colleges 14.28
Developing
college
infrastructure 78.57
CreaNng
innovaNon
hubs
in
colleges 21.42
ConducGng
joint
research 57.14
Regular
Industry-‐academic
interacNon
plaVorm 50
22. THE ECONOMICS CLUB, MUMBAI
Bridging
the
Gap
• There exists a significant competency / skill gap
• Could very well be applicable to the rest of the country
• Investment in higher education to improve the overall quality
of education delivery is critical.
• Educational institutions have to train students to think like
economists!
• Industry-academia partnership needs to be forged.
