The Art and Science of Economic Policy

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Based on the acclaimed book, ‘In Service of the Republic’, by Vijay Kelkar and Ajay Shah, this course presents a rigorous framework for understanding economic policymaking – through concepts, cases, and discussions. Why do well-intentioned policies fail? How do incentives, transparency, and State capacity determine policy outcomes? And what does economic policymaking look like, in a complex democracy like India? Drawing from one of the most widely read and discussed books on Indian public policy, the course The Art and Science of Economic Policy translates a comprehensive volume into an interactive learning experience—combining video lectures, Indian case studies, readings, and forums. In this six-module, self-paced course, learners will work through core concepts in economic policymaking—the role of the government, market failure, information problems, and institutional design—and the collaborative pathways between government and knowledge institutions through which policy is designed and implemented. No prior economics training is required for enrolment, though familiarity with basic concepts will be helpful. You should enrol, if you are: • Civil servants and government officials working on economic and urban policy • Aspirants preparing for the IAS, IPS, and other civil services examinations • Policy researchers and development sector professionals • Students of public policy, economics, business, or law • Corporate employees and business leaders looking to understand economic policy and development work Why you should enrol: Each citizen plays an important role in shaping the Indian Republic. This course explains the relevance and impacts of economic policymaking in everyday life in an accessible manner—enabling citizens, public servants, and learners to understand the implications of various aspects of governing a Republic. By the end of this course, you will: • Understand the role of the government in economic policymaking—and the conditions under which it succeeds or fails • Recognise the objective aspects of policymaking, and appreciate the softer and people-focused aspects involved • Gain the ability to analyse the steps involved in the process of policymaking, and understand the various nuances and challenges in defining and implementing it • Be able to engage more confidently and rigorously with economic policy debates—as a citizen, a practitioner, or a student of public affairs.

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Aromar Revi

Director

Ajay Shah

Research Professor of Business

Vijay L Kelkar

Board Member