Board <strong>of</strong> GovernorsDr. C. RangarajanChairmanDr. Rakesh MohanFormer Deputy Governor,Reserve Bank <strong>of</strong> IndiaDr. A.C. MuthiahChairman and President, SPIC Ltd.Mr. T.M. BhasinChairman & Managing Director,Indian Bank.Dr. M. Govinda RaoDirector, NIPFPPr<strong>of</strong>. R. RadhakrishnaChairperson, <strong>Madras</strong> Institute <strong>of</strong>Development StudiesShri. S.VijiChairman, Brakes India Ltd.Dr. M.AnandakrishnanChairman, IIT Kanpur & Science City,ChennaiShri. S.C. KaliaExecutive DirectorUnion Bank <strong>of</strong> IndiaShri. K Shanmugam, I.A.S.Secretary to Government,Finance Department,Government <strong>of</strong> Tamil NaduDr. U. SankarHonorary Pr<strong>of</strong>essor,<strong>Madras</strong> <strong>School</strong> <strong>of</strong> <strong>Economics</strong>Dr. K R ShanmugamDirector, <strong>Madras</strong> <strong>School</strong> <strong>of</strong> <strong>Economics</strong>Ms. Meera MehrishiAdditional Secretary,Ministry <strong>of</strong> Environment and Forests,Paryavaran Bhavan.Shri. Jagdish Pai K.L.Executive Director, Canara Bank,Head Office, Bangalore.Shri. T. Y. PrabhuChairman and Managing Director,Oriental Bank <strong>of</strong> commerceShri. M. NarendraChairman and Managing Director,Indian Overseas Bank
Director’s MessageIndia is amongst the fastest growing nations in the world despite 2008 crisis and recent globalslowdown. Since 2003-04, the Indian economy has registered an average rate <strong>of</strong> growth <strong>of</strong> 8.2 per cent. At thesame time, it is highly vulnerable to exchange rate movements and global crude oil prices. In addition, thegrowth is not inclusive. While the growth declined to 6.5 percent in 2011-12, the inflation remained high.Many agencies also forecast that global growth prospects remain sluggish <strong>2012</strong> onwards and the Indianeconomy will grow well below its potential level. To emerge out <strong>of</strong> this under performance, effective stepsneed to be taken.Given the nature <strong>of</strong> the growth dynamism and complexity <strong>of</strong> interrelations among theeconomies/sectors, there is a need to train more and more economists who can easily grasp the situations andfind suitable remedies. MSE plays an important role in this regard. While it is relatively young as compared tomany reputed institutions in the country, it has expanded its teaching programmes rapidly.In 2010, we had started three new P.G programmes, namely M.Sc. Actuarial <strong>Economics</strong>, M.Sc. AppliedQuantitative Finance and M.Sc. Environmental <strong>Economics</strong>. Last year onwards, our well establishedprogrammes <strong>of</strong> M.Sc. in General <strong>Economics</strong> and Financial <strong>Economics</strong> have been <strong>of</strong>fered at MSE incollaboration with Central University <strong>of</strong> Tamil Nadu (CUTN), Thiruvarur. This year, the other threeprogrammes are being <strong>of</strong>fered in collaboration with CUTN. Accordingly, the number <strong>of</strong> graduating studentshas been progressively increasing.In all programmes, we follow analytical approach. Potential employers <strong>of</strong> MSE graduates will findthem to be well trained in economic/financial theories, quantitative techniques, statistical and econometrics<strong>of</strong>twares, aware <strong>of</strong> the macroeconomic environment <strong>of</strong> the country, conscious <strong>of</strong> the policy dilemmas and awell developed sense <strong>of</strong> social responsibility. MSE alumni have proved themselves conduit to all the fieldsthat they became part <strong>of</strong> including analytics, research, policy making, banks, universities and NGOs. Thecurrent batch carries similar potential and will surely keep the MSE flag flying high, surpassing all the nichescarved by their seniors.I wish them “Good Luck”.K.R. Shanmugam, Director, MSE