Department of Economics

About Us:

The Department of Economics has been one of the leading departments amongst the Social Science, established since the inception of the college in 1963.  It has always had a rich tradition of ‘Nurturing Aspirations and Developing Potentials’ amongst the students.  It also has a unique presence in the faculty of Arts, Commerce and Management studies which has helped in inculcating interactions with staff members and students from these faculties.

Faculty Profile:

The Department of Economics has a very rich legacy of good teaching and efficient administration.  In keeping with this tradition, one teacher is a Vice Principal (Since 1998) and another coordinated the  BBI course in its formative stages.   All the teachers are highly qualified, with the required eligibility criteria and have contributed immensely with innovative methodologies in teaching and course development. One of the teacher is a member-syllabus committee for both T.Y.BA and T.Y.B.Com and was a resource person to guide teachers in the course curriculum.  Another teacher is a member, syllabus committee for T.Y.B.A.  Three teachers are recognized P.G. teachers, two of them being actively involved in the teaching at M.Com and M.A. (SNDT University) level.  All the teachers guide the students in their project work so that they are well informed about the current affairs and learn to analyse the current scenario with a critical eye.  All the teachers are also active members of various committees and help in the general administration of the college.  All of them believe that it is necessary to go beyond the class room and through the numerous activities conducted through the Economics Association especially the annual Inter-Collegiate students Event, ‘ARTH-GYAAN’, the teacher have succeeded in providing a platform to the students to understand everyday economics and connect with the reality.

Trends in Success and Drop-Out Rates: 

The majority of the students (92%) belong to families which are economically weak and have incomes below Rs. 1 lakh per annum.  All of them are first generation learners and attend college in spite of considerable financial and personal difficulties.  However, they all have an inner urge to excel in life and be successful.  Therefore, there is negligible drop out rate and the success rate at the T.Y.BA level in the past two years has been on an average 75%.  Since 57% of the students have less than 50% at the HSC level, the fact that the students have passed with a good second class is commendable and appreciable.

Learning Resources of the Department:

The Department has a vast collection of excellent reference books, text books and journals in the main library.  To help student easy access to relevant books, pertaining to subject options at the T.Y. level, a Departmental library has been set up.  The teachers have also provided books from their personal library and there is a small collection of CD’s.  The Departmental library also maintains University Question paper sets, which the students can freely refer to and which helps them to systematically prepare for the final examinations.

To plan and complete their projects the students avail of the Internet facilities, provided in the main library.  They also use the extended long hours to study in the library.  Each student also purchases and reads the daily newspapers – BUSINESS LINE and ECONOMIC TIMES, which has helped them to understand real-life problems and analyse the current affairs critically.

Modern Teaching methods and use of ICT in teaching learning:

The teachers of the department believe in student centered teaching, where the onus of learning lies with the students.  The main mode of teaching is chalk and talk method, the students active participation, is encouraged.  The theory papers are explained through explicit diagrams which help in comprehending the subject matter more easily.

Recently the department has introduced ‘LIVE ECON’, a highly, interactive learning tool developed by ‘INTERCTYX’, a Scottish based research organization in collaboration with University of Cambridge, Aberdeen, Bristol, City University (London).  This has helped in explaining economic theory through visuals which definitely impressed the students.

Every teacher in the department has prepared and developed course material and provided the students with an updated reference list of books and relevant articles, published in journals like ECONOMIC and POLITICAL WEEKLY, ECONOMIST, FORTUNE, INDIA TODAY etc which are available in the library.  The students have also been taken to the J.N.U. library in the University and to various exhibitions like the RBI Monetary Museum.

The students are encouraged to make power point presentations related to especially the present reforms in the National and Global, scene.   ‘ARTH-GYAAN’ – an inter-Collegiate students’ event, which helps to take Economics beyond the classroom and make it more meaningful and interesting. ‘ARTH-GYAAN’ has students from all faculties participating in the innovative competitions.  In designing the competitions like VISUAL IMPACT, FUNTOON, ECO-TALK, BUSINESS-BUZZ, there are brain storming sessions of the departmental colleagues.  There is also active participation of the students in the ‘A.D. Shroff Memorial Elocution competition’ and the ‘Know Your Nation-Know Your Leaders’ Essay competition.  These activities have helped to develop the communication skills of the students and learn event management and organizational skills.

The activities carried out by the Economics Association, namely, debates, elocutions, quizzes, essay competitions, poster and cartoon competition, group presentations, help in creating tremendous awareness of current issues and global economic reforms.  A variety of topics were discussed like global warming, disaster management, farmers suicides, volatility in the stock exchange market, impact of rupee appreciation on experts from India and so on.

The management of such activities has helped the students to interact courteously with eminent guests, invited on such occasions and so develop their organizational skills and event management.

The teachers of the department have also guided the students to participate and win at Inter-collegiate events.  Such participation has made them more confident.  They have won prizes in group presentations and in an ‘Economic Song’ competition. Such participation has developed the students personality and made them gain more practical knowledge and confidence.

Participation of teachers in academic and personal counselling of students:

At the S.Y. level the student are counseled regarding career options specially, if they opt for majoring in Economics at the T.Y.BA level.  The students are constantly encouraged to participate in the Career Fair ‘VISTAS’ organized in the College Campus.  At the T.Y. level a mentoring (tutor-ward scheme) has been introduced to counsel the students with regard to any difficulties that they may be facing.  The advance learners are provided with more course material and books and the slow learners, are counseled to cope with their studies.  Students also seek help from the counsellor on the campus, who has provided guidance on Time Management, Stress Management and Personality Development.

A parent teacher meeting is also arranged to familiarize the parents with regard to regular tests, projects and presentations that the students are required to submit. 

Faculty Development: All the teachers from time to time attend International, National or State Level Seminars. They have made significant paper presentations, which have been published in seminar proceedings. One teacher has published a book titled ‘Financial Crisis and Stability in a Global Economy’ – Himalaya Publishers 2003

Contribution to Teaching, Consultancy and Research: One teacher is regularly invited as a subject expert to guide students of T.Y.BA and T.Y.BCom.  One teacher has also been invited to develop the course curriculum for B.Com (Hons) by the Board of Studies in Business Economics.

A Minor Research sponsored by University of Mumbai was completed by one teacher in 2005 and another has been recently granted a Minor Research Project by UGC.

The department organized a one-day UGC sponsored State level seminar on ‘Challenges of Urban Development – Infrastructural facilities and Environmental Issues’ on January 31, 2003.  The seminar had 5 eminent speakers and active participation of 60 teachers.  Some of whom also presented papers which were published in a seminar volume.  The key note address by Mr. Chandrashekhar Prabhu, Chairman, Advisory Committee, Department of Housing, and Government of Maharashtra was well received by the delegates.  The topic of the seminar was very relevant and was appreciated by all.  It also received wide publicity in the media.

Collaborations:

The Department has collaborations with the Department of Economics at the University of Mumbai.  There is active participation in all its workshops and seminars.  The students are encouraged to pursue M.A. at the Department or at the R.K.T. College, Ulhasnagar.

There is also collaboration with Centre for Women’s Studies and active participation in a workshop organized recently (sponsored by UNDP) on Integration of syllabus of Human Rights and Human Resource Development.

Placement Record:

 Students either pursue   Law, Management, M.A or B.Ed.  They have been placed as lawyers with a reputed firm, as a Librarian in IIT, or as Managers in reputed banks like ICICI and HDFC. Some have completed their IATA course and have been placed with Travel Agencies.  Some of them have also become teachers in schools and colleges.