IIM Calcutta – Executive Programme in Global Economics (EPGE)

Executive Programme in Global Economics (EPGE)
Indian Institute of Management Calcutta

About IIM Calcutta
Indian Institute of Management Calcutta is one of the highest ranked business schools in the world. In Financial Times (FT) Masters in Management 2013 Global Rankings, IIM Calcutta is ranked No 1 in Finance and No 2 in Economics among the top 70 global business schools that offer masters in management programme. It was ranked above the London School of Economics and Manchester Business School for its management programmes. It ranks amongst top 20 B-schools in the world. For more details about the institute, visit their official website.

Program Background
Executive Programme in Global Economics has been designed to help participants gain the required insights in economic analysis and policy in a global context. The programme introduces the participants to basic economic principles, theories, tools and some important applications. After the successful completion of the programme, the participants should be better able to comprehend the significance of economic events happening around them. Why do mergers take place and why do the regulators sometimes try to stop mergers? How are markets segmented and different prices charged to different sets of customers? How is the foreign exchange rate determined and why did it increase after the US Financial crisis? What is a repo/reverse repo rate? When and why does the Reserve Bank of India increase/decrease these rates? How is recession caused? What is fiscal deficit? Why is there so much of controversy around it? Why has India been cautious in going for full capital account convertibility? Questions such as these illustrate the type of issues which will be taken up in the course.

Core Value Proposition
The business environment has changed quite radically in India in recent years. To be effective and successful, executives need to understand how the economy functions and how different economic events and policies affect their areas of operations. Such understanding is particularly essential in the complex, globalised environment in which economies operate today. The current programme is aimed at providing this understanding to the participants. Given that IIMC faculty members continuously have to relate their teaching to the real world in classroom lectures, they are particularly in a position to show participants how to apply economic understanding in day to day life.

Target Segment
The potential participants are those who require knowledge of Economics in their jobs but do not possess it and want to fill up this gap. Persons from a wide range of professions may belong to this group. Examples would be professionals in specialized fields such as a lawyer working in a law firm. The target group may also include people with MBAs or equivalent degrees/diplomas who may feel that their knowledge of Economics is inadequate. It may be noted that barring a few exceptions, teaching of Economics in management institutes in the country is not of a very high order. It is also expected that organizations such as banks will be interested in sponsoring candidates as a part of their training programmes for their officers particularly the fresh recruits. Moreover, journalists working for business magazines and newspapers will also be interested in acquiring a solid grounding in economic theories and applications.

Program Directors – Prof. Anindya Sen and Prof. Parthapratim Pal
Prof. Anindya Sen:
Currently, Anindya Sen is Professor at the Indian Institute of Management Calcutta (IIMC). He holds the position of Dean (Academic) at IIMC. He was earlier Visiting Professor at School of Business and Management, American University of Armenia and at Department of Economics, University of Notre Dame, USA. He was also Professor at Indira Gandhi Institute of Development Research, Mumbai, India.

He holds a Ph. D from University of Southern California, USA. His fields of interest are:
Industrial Organization, Theory of the Firm, Regulation, Law and Economics and Strategic Management.

He has authored and edited several volumes. Currently, he is General Editor for a cluster of books on Economics and Development in the Oxford India Short Introduction series. He has published in both Indian and international journals and contributed chapters to a number of volumes.

Consultancy projects undertaken by Prof. Sen include:
Anindya Sen and Prashant Mishra, White paper on Status of Sports Infrastructure in India and Ways to Improve the Sports Infrastructure to Achieve Global Standards”. Study commissioned by Transtadia.
Sudip Chaudhuri and Anindya Sen, Reserve Bank of India Project on Industrial Sickness in Eastern Region.
Anindya Sen, Balram Avittathur and Ashis Bhattacharyya, Tariff Fixation for Calcutta Port Trust.

Prof. Parthapratim Pal
Prof. Pal is an Associate Professor at the Indian Institute of Management (IIM) Calcutta. He has a Masters, MPhil and Ph.D. in Economics from the Center for Economic Studies and Planning at the Jawaharlal Nehru University in New Delhi. He has worked in the areas of macro economics, development economics and international economics.

Before joining IIM, he worked with the Indian Council for Research in International Economic Relations (ICRIER) and the Indian Institute of Foreign Trade (IIFT). He has done a number of consultancy and research works for the United Nations Development Programme (UNDP), WTO, UNCTAD and British High Commission.

His recent areas of interest include international trade, regional trade agreements, WTO related issues and international capital flows. He has a number of publications in nationally and internationally reputed journals and books.


Online Component: This component forms the core of EPGEM. Spread over 1 year it consists of six modules. Faculty from IIMC will mainly take these modules. Some guest faculty also may be involved.
Campus Component: The course will contain sessions spread over five days at IIM Calcutta’s Joka (Kolkata) campus.

Online Application
You can now apply for this program online. Click here for Online Application.

To apply online, one needs to fill a simple form and pay for the application fee. Indian candidates can pay by credit card, internet banking, debit cards, demand draft or account transfer by NEFT. International students can pay by credit cards. You can send in your application online and pay later, but it will be processed after receipt of payments. Online Application form has the application fee set at Rs. 2,000 by default. International students need to pay the differential amount of Application Fee alongwith the first installment.

Schedule of Online Classes

Saturday 15.15 – 18.15 pm IST


  • Applicants should be working professionals/self-employed
  • Graduates (10+2+3)/post graduates in any discipline with min. 50% marks [aggregate- considering results of all years (e.g. 3 or 4 together)] recognized by UGC/AICTE.
  • Minimum 1 year of work experience desirable (full-time paid employment) post completion of graduation as on Application Closure Date


    I: Introductory:

    • Importance of Economics in the global environment
    • Use of Mathematics in Economics

    II: Microeconomics:

    • Demand-supply Analysis
    • Elasticity
    • Opportunity Cost
    • Production Costs
    • Firm Behavior
    • Perfect Competition
    • Monopoly
    • Pricing Strategies
    • Game Theory
    • Choice under uncertainty
    • Investment and capital markets
    • Asymmetric Information
    • Externalities and Public Goods

    III: Macroeconomics:

    • Overview of Macroeconomics
    • Measuring economic activity: National income accounting
    • Theory of aggregate demand, business fluctuations, recession, inflation
    • Fiscal policy for stabilization and growth
    • Financial markets and role of money
    • Central banking and monetary policy

    IV: Global context:

    • International Trade
    • Why countries trade
    • Theories of international trade
    • Trade pattern across the world- trade and investment linkage through production networks
    • Trade policy instruments-tariff, quota and other measures
    • WTO and Trade Blocks
    • Protectionist trends in developed countries and their possible impact on international trade of goods and services

    Capital Flows

    • Why developing countries need capital flow
    • Types of foreign capital flows
    • Foreign direct investment and foreign portfolio capital flows
    • Monetary policy and exchange rate in an open economy
    • How RBI manages exchange rate and money supply when there are large capital inflows and outflows
    • Foreign exchange reserves and their relevance in an open economy
    • Current and capital account convertibility

    Conduct of Classes
    The classes will be conducted from IIMC’s studio. Select faculty from IIMC will conduct the classes. Each topic will be taught with the help of case studies, live corporate examples and general discussions. In order to provide greater industry insights, business leaders from the different industries, subject to availability, may be invited to share their experiences.

    Within India
    The classes will be made available in across the country through e-learning. The participants can also be given an option to connect from home.

    Outside India
    The program is also available outside India with a differential amount in fee.

    There will be one campus visit to IIMC. The duration of the visit will be of 5 days. The campus visit will be compulsory. The pricing for the visit is indicated separately for reference and review.

    Batch Size
    Minimum batch size of 50 students. The batch size can be increased or decreased at the option of IIMC.

    Program Roll-out Schedule
    The program will commence soon subject to minimum enrollments of 50 students.

    Learning System
    Industry tested learning system will be deployed for conducting the program. It will allow students to attend the classes from their offices or homes. A high-speed broadband internet connection is essential for students to participate in the program.

    Initially the candidates will need to send across the application forms with Application Fee only. Other fees will be payable only after acceptance by IIMC in the program. Fee Details are, as follows:

    Initially the candidates will need to send across the application forms with Application Fee only. Other fees will be payable only after acceptance by IIMC in the program. The fee is inclusive of service tax.

    All Fees are payable by Student directly to Ivory Education, unless otherwise specified


    Domestic International
    Application Fee Rs. 2,000 USD 100
    Programme Fee (total) Rs. 1,34,538 USD 5,000

    Application Fee and Program Fee are paid in name of Ivory Education Private Limited. Campus Fees are payable in name of Indian Institute of Management Calcutta. Any variation in service tax shall be to student account.

    Ivory Education will provide assistance to candidates for availing loans from financial institutions. These institutions may extend loans to the participants subject to their own conditions. Before applying for a loan, the candidates need to be selected by IIMC for the program.

    Evaluation Methodology
    Assignments, Online Quiz & Project Evaluation by IIMC

    To complete the programme successfully and get a certificate of successful completion and grade sheet from IIMC, participants will need to complete all subjects with not more than 2 poor grades (out of four grades, namely, “Excellent”, “Good”, “Average” and “Poor”). Others would receive a certificate of participation.

    IIM Calcutta shall carry out the examination and evaluation required for certification. IIM Calcutta will directly award a certificate to participants who complete the programme successfully.

    Giving feedback is an integral part of the completion requirements of the programme.

    – In-company
    – Retail

    Placement Assistance
    Placement Assistance is provided to the candidates who successfully complete the program by Ivory Education. No placement assistance will be provided by IIMC. Candidates who are nominated by their company will not be eligible for any placement assistance.

    More details
    For more details, contact us on 011-46076571 (Monday-Saturday, 10:00am to 6:30pm) or email [email protected]. Those outside India can call us on +91-11-46076571.

    Online Application
    You can now apply for this program online. There is a common application form for both Indian & International students. International students need to pay the differential amount of Application Fee alongwith the first installment.

    To apply online, one needs to fill a simple form and pay for the application fee (Rs. 2,000 for Indian students & USD 100 for international students). Indian candidates can pay by credit card, internet banking, debit cards, demand draft or account transfer by NEFT. International students can pay by credit cards. You can send in your application online and pay later, but it will be processed after receipt of payments.

    Prospectus and Application
    Just fill the online
    Terms & Conditions
    1. Program launch dates as well as installment dates are open for change as per the discretion of Ivory Education and IIMC.

    2. Ivory Education and IIMC reserve the right to foreclose the admissions for the Program based on the response.

    3. Fees once paid will not be refunded or adjusted under any circumstances. Change of batch is not permitted.

    4. Enrollment in the program is at the sole discretion of IIM Calcutta. Application Fee/Prospectus Cost is not refundable.

    5. The maximum permitted delay in program roll-out will be 90 days.

    6. In case of any connectivity issues or technology problems, an alternate class may be organised or a copy of the session transcript will be given alongwith attendance credit.

    7. 75% attendance in classes is mandatory.

    8. Any false or misleading information may result in termination of enrollment.

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