According to the cabinet decision, the Mumbai School of Economics and Public Policy will closely work with the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI).
Maharashtra government has decided to transform the Mumbai University's Economics department as Mumbai School of Economics and Public Policy (MSEPP) on the line of London School of Economics. The state cabinet approved the proposal on Thursday.
"We have decided to allot a fund of Rs 25 crore; where each year Rs 5 crore fund will be released. While the Mumbai School of Economics and Public Policy will have to raise another Rs 125 crore to strengthen this institution. It will be a world class department. The Economics department started back in 1921, one of the oldest departments in India," the cabinet note read.
Nawab Malik, Nationalist Congress Party (NCP) spokesperson, said MU is still suffering with result publication of various courses and said, "Our humble request to the government is that first put the accountability, then run the current department smoothly, then think of turning the department the world famous," Malik said.
According to the cabinet decision, the Mumbai School of Economics and Public Policy will closely work with the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI).
"MSEPP will invite guest lecturers from Cambridge University. Senior government officials and subject experts will also deliver lectures," the note said.
"Mumbai is the financial capital of the India, but most of the financial and economical institutions are out of Maharashtra. We should not lag behind in this sector, therefore, we have decided to transform the present Economics department of Mumbai University into the Mumbai School of Economics and Public Policy. It is one of the milestone decision taken by our government," a senior BJP minister said requesting anonymity.
What it will offer
MSEPP will run a regular MA course in economics and public policy.
Apart from this, there will be a number of post-graduate diploma courses.
Most of the diploma courses will be job oriented, while regular courses will be research oriented.
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