He also said that there is a huge demand for data scientists.
Economist and British politician Meghnad Desai is hopeful of data science helping in solving complex economic issues of India. In an interaction with Moneycontrol, Desai, also Chairman of Meghnad Desai Academy of Economics, talks about the new programmes at the institute and expansion plans. Excerpts:
Q. What was the idea behind launching a new data sciences course at the academy?
A. One of the reasons for launching the new course was due to the rising demand from the students aspiring to become data scientist in the finance and economics domain. Besides this, many firms and companies were also demanding for skilled and talented students with domain expertise in this field.
Keeping this in mind, we launched the new programme which is a perfect blend of computer science, analytics and finance. The course will equip students with a diverse set of relevant skills to land preferred jobs in the field.
Q. What will be the eligibility criteria?
A. Students as well as working professionals with a background in statistics, mathematics and/or computer science, BSc- IT and engineering courses are eligible to apply for the course. Aspiring students should have a minimum score of 60 percent in their graduation course.
Q. There is a debate around data collection by the government agencies in India. How do you see this course in this context?
A. India is a country with a huge amount of unstructured and structured data with limited knowledge to use it. This in itself calls for a huge demand of data scientist to help organise, manage and analyse the data and get insights that will help the economy grow towards a new direction. There have been various government institutions that have been collecting data in various formats from citizens and companies. This data is being underused to make analysis and informed policy decisions.
If India can utilise this data, I am sure we can help in solving various economic issues. Our statistical machinery is also in need of serious repairs. Thus, I believe that the course that has been launched by the institute can definitely help in moving towards resolving the credibility of India’s data collection machinery.
Q. How has the response been for the PGD Economics programme?
A. The Post Graduate in Diploma (PGD) course in Economics is well received and has gathered a lot of market attention. The feedback that we have received from students is that our curriculum is rigorous, in-depth and has helped students gain skills that are industry relevant and can be utilised across various sectors.
Students from MDAE are working in diverse roles in companies like Morgan Stanley, Royal Bank of Scotland, HSBC Bank, Axis Bank, IDFC Institute, Deloitte, Fractal Analytics, Mu Sigma, Decimal Point and Think Analytics among others.Our students have also found success in getting admitted in foreign universities like LSE, Columbia University, Oxford University, Harvard Kennedy School, George Washington University, Georgia State University and Ohio State University to name a few. This validates our track record and the success that the course has received.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.