(Code : K4202)
IIT Kanpur offers a unique B. S. program in Economics. It was conceptualized with a need to combine training in technology related issues with economics. Currently many students with engineering degrees seek additional training in economics to make them more efficient professionals. Similarly many engineering and management consultancy firms find it necessary to attract professionals that are well versed in both technological and economical skills.
Contemporary developments in materials research, telecommunications, information technology, biotechnology as well as the sustainable development of nonrenewable resources necessitate an interaction between economics and technology. Even, conventional service areas, such as banking and finance, have also undergone rapid and fundamental changes, both in terms of products and processes, due to the development of information technology and computational skills. Similarly commercialization of modern technology (from laboratory to the market) involves a whole gamut of patents, intellectual property rights, investment planning pricing contracts and so on. Therefore, a synthetic understanding of technology and economics will provide the students with an enduring expertise.
The program provides courses in basic science, engineering, and computational methods in the first two years. The rest of the program offers extensive training in economic theory, econometric and quantitative techniques, industrial economics, development trade, and infrastructure economics, environmentaleconomics. The student will be able to take specialized courses in areas that interface with technology. For example, the areas covered will be economics of information technology, economics of biotechnology, economics of research and development, multinational enterprises, transport economics, water resources economics, health economics and health care policy, computational finance, environmental impact assessment, economics of regulation, economics of intellectual property rights, and law, technology and public policy. Every student who gets a M.Sc degree in Economics will have capabilities to identify real world problems as they emerge, articulate an appropriate mix of economic and technological solutions, and design policies to implement them instead of depending exclusively on known solutions.
Such students will be in great demand in international and national business and consultancy organizations, multinational corporations, firms dealing with information technology, banking and financial sectors, conventional government departments, and administrative services. They will also be in a position to compete with students from the best known foreign and Indian institutions in pursuing further research work.