The Indian Institute of Technology (IIT) Kharagpur will establish a dedicated Department of Economics from the next academic session, separating it from the existing Department of Humanities and Social Sciences.
The decision was taken to bolster academic and research activities in the field of economics and foster a strong interface between economics and technology.
The institute currently offers a five-year integrated MSc in Economics, a four-year BS (Honours) programme and minor and double major options in the discipline.
With the creation of an independent department, IIT Kharagpur seeks to expand its scope and introduce advanced, technology-driven courses. Notably, IIT Bombay and IIT Kanpur have already set up independent economics departments in recent years.
According to reports, IIT Kharagpur Director Prof Suman Chakraborty said the Senate approved the formation of the new department, recognising the growing significance of economics as a specialised and evolving field.
He said: “The main aim is to combine artificial intelligence, technology, and economics and start newer courses like FinTech. The modalities regarding admission and courses are being worked on. We are hopeful that the department will run in a full-fledged manner from the next academic session.”
Reports also highlighted that the establishment of the new department will enable IIT Kharagpur to offer cutting-edge economics education grounded in analytical rigour, data science, and computational techniques.
The initiative is expected to create a unique interdisciplinary environment that aligns economics with emerging technological trends, preparing students for dynamic roles in research, policy and industry.
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