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The Art and Science of Economic Policy
  • Level Foundation
  • Duration 13 hours
  • Course by Indian Institute for Human Settlements
  • Offered by

About

Economic policy affects every citizen. And economic policymaking is best done as a collaborative process with a wide range of stakeholders. This course brings an understanding of the relevance and impacts of economic policymaking in everyday life, and the ways for citizens to be involved in shaping economic policy, in an accessible and interesting manner. Taught by Dr. Vijay Kelkar and Dr. Ajay Shah, along with Aromar Revi, Director, IIHS, the course synthesises more than one hundred years of their combined experience as professional economists and public intellectuals. This course can be covered across 5 weeks with 3-5 hours of learning per week. To get the best out of the course, learners are encouraged to view all the video lectures and conversations, go through other learning material, work on all the assignments and assessments, and participate in discussions in a constructive and respectful manner. By the end of this course, you will be able to: ~ Identify the role of the government in defining and implementing policy ~ Recognise the various objective aspects of policymaking, and appreciate the various softer / people aspects involved ~ Analyse the steps involved in the process of policymaking, and discuss various nuances and challenges in defining and implementing it Each citizen plays an important role in shaping our Republic. This course enables citizens, public servants and learners to understand the implications of various aspects of governing a Republic. If you are a student of economics, public policy, law, political science, and/or management, this course will explain the process of economic policy-making and inform you about the complex systems involved in its creation and implementation. If you are a public servant in Indian Civil Services involved in public finance and economics, this course will help you gain deeper insights into topics and practices surrounding the design of economic public policy. UPSC aspirants will likewise benefit from the insights and by participating in the discussions the course offers. Employees and leaders in the private sector who will benefit from having a more nuanced understanding of economic policy and development will also find this course very educational and informative. We look forward to having you on the course!

Modules

Introduction

    • 2 Videos
    • 3 Readings
    • 2 Discussion
    • 1 Plugin
Show info about module content

2 Discussions

  • Introduce Yourself and Meet Your Peers
  • The $3 Trillion Indian Economy

2 Videos

  • Welcome to the Course
  • Summary

3 Readings

  • Course Overview and Objectives
  • Meet the Course Team
  • Important Course Information

Introduction to the Foundations of Economic Policymaking

    • 1 Videos
Show info about module content

1 Videos

  • Introduction to the Foundations of Economic Policymaking

Why do we need a Government?

    • 1 Videos
    • 2 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • Do we need a government?

1 Videos

  • Why do we need a Government?

2 Readings

  • Market failure enters the formal regulatory framework
  • Storing Card Data online - should it be prohibited?

What can a Government do?

    • 2 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • What should a government do, and should not do?

2 Readings

  • What can a government do?
  • Let's talk about "Infrastructure"

The Failures of the Past

    • 1 Videos
    • 2 Readings
Show info about module content

1 Videos

  • The Failures of the Past

2 Readings

  • How many years is India behind the US or the UK?
  • Talking about failure

Reasons for Failure

    • 1 Videos
    • 4 Readings
Show info about module content

1 Videos

  • Reasons for Failure

4 Readings

  • Who should be allowed to vote?
  • Solving the air quality problem – the Importance of data
  • Socialised Healthcare in India – MCPF
  • Do ends justify means?

Module Assessment

    • 1 Assignment
Show info about module content

1 Assignment

  • The Foundations of Policymaking

Module Summary: The Foundations of Policymaking

    • 1 Videos
    • 1 Discussion
Show info about module content

1 Discussions

  • State Failure - Information Constraint

1 Videos

  • Module Summary: The Foundations of Policymaking

Introduction to the Module

    • 1 Videos
Show info about module content

1 Videos

  • Introduction to the Science of Economic Policymaking

Incentives

    • 1 Videos
    • 1 Readings
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1 Videos

  • Incentives

1 Readings

  • How do we measure healthcare capacity?

Pricing

    • 1 Videos
    • 3 Readings
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1 Videos

  • Pricing

3 Readings

  • The Price System and Efficient Resource Allocation
  • The pandemic and masks
  • Minimum Support Price

Competition

    • 1 Videos
Show info about module content

1 Videos

  • Competition

Equilibrium Effects and Redistribution

    • 1 Videos
    • 3 Readings
Show info about module content

1 Videos

  • Equilibrium Effects and Redistribution

3 Readings

  • Universal Basic Income and General Equilibrium
  • Workfare Programmes
  • Trading in Emission Permits

The Role of Private Players

    • 1 Videos
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1 Videos

  • The Role of Private Players

The Power of Decentralisation

    • 1 Videos
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1 Videos

  • The Power of Decentralisation

Thinking Analytically

    • 1 Videos
    • 4 Readings
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1 Videos

  • Thinking Analytically

4 Readings

  • Antibiotic Resistance
  • Infrastructure Financing
  • Know Your Customer
  • Can corruption be eliminated?

Module Assessment

    • 1 Assignment
Show info about module content

1 Assignment

  • The Science of Economic Policymaking

Module summary: The Science of Economic Policymaking

    • 1 Videos
    • 1 Discussion
Show info about module content

1 Discussions

  • Transaction Costs Perspective

1 Videos

  • Module Summary: The Science of Economic Policymaking

Introduction to the Art of Economic Policymaking

    • 1 Videos
Show info about module content

1 Videos

  • Introduction to the Art of Economic Policymaking

The Importance of Patience and Depth

    • 1 Videos
    • 3 Readings
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1 Videos

  • The Importance of Patience and Depth

3 Readings

  • COVID-19 Vaccines: Slow is Fast
  • Three big ideas for successful policy implementation
  • What does it take to clean a river?

Importing International Experiences

    • 1 Videos
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1 Videos

  • Importing International Experiences

Managing Complexity

    • 1 Videos
    • 1 Readings
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1 Videos

  • Managing Complexity

1 Readings

  • Monetary and fiscal policy: Simple or complex?

The Importance of Transparency

    • 1 Videos
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1 Videos

  • The Importance of Transparency

Criticism and Conflict

    • 1 Videos
    • 1 Readings
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1 Videos

  • Criticism and Conflict

1 Readings

  • Criticism and the freedom of speech

The Country is not a Company

    • 1 Videos
    • 3 Readings
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1 Videos

  • The Country is not a Company

3 Readings

  • The Case of Robert McNamara
  • Open and Closed Systems
  • Bureaucrats are not Stakeholders

The Role of Government: Enable, not Control

    • 1 Videos
    • 1 Readings
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1 Videos

  • The Role of Government: Enable, not Control

1 Readings

  • Keeping the State out of central planning

Module Assessment

    • 1 Assignment
Show info about module content

1 Assignment

  • The Art of Economic Policymaking

Module Summary: The Art of Economic Policymaking

    • 1 Videos
    • 1 Discussion
Show info about module content

1 Discussions

  • Importing Experiences

1 Videos

  • Module Summary: The Art of Economic Policymaking

Introduction to the Implementation of Economic Policy

    • 1 Videos
Show info about module content

1 Videos

  • Introduction to the Implementation of Economic Policy

The Policy Pipeline

    • 1 Readings
    • 1 Assignment
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1 Assignment

  • Knowledge Check Quiz (Ungraded)

1 Readings

  • The Policy Pipeline

How a Government can Implement Policy

    • 1 Videos
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1 Videos

  • How a Government can Implement Policy

Sequencing

    • 6 Readings
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6 Readings

  • Elements in Sequencing
  • Element 1: Capacity Building
  • Element 2: Prerequisites
  • Element 3: Learning by Doing
  • Element 4: Managing the Political Economy
  • Element 5: Restraining abuse of coercive power

Building State Capacity

    • 1 Videos
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1 Videos

  • Building State Capacity

The Importance of Knowledge Institutions

    • 1 Videos
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1 Videos

  • The Importance of Knowledge Institutions

Module Assessment

    • 1 Assignment
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1 Assignment

  • Implementation of Economic Policy

Module Summary: Implementation of Economic Policy

    • 1 Videos
Show info about module content

1 Videos

  • Module Summary: Implementation of Economic Policy

Course conclusion

    • 1 Videos
    • 1 Plugin
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1 Videos

  • Thank You!

Auto Summary

"The Art and Science of Economic Policy" is a comprehensive course in Business & Management, designed to deepen your understanding of economic policymaking and its impact on daily life. Led by esteemed instructors Dr. Vijay Kelkar, Dr. Ajay Shah, and Aromar Revi, this 5-week course covers 3-5 hours of weekly learning. Ideal for students of economics, public policy, law, political science, management, public servants, and private sector employees, it offers practical insights into the government’s role in policy definition and implementation. Available on Coursera with Starter and Professional subscription options.

Aromar Revi
Instructors

Aromar Revi

Ajay Shah
Instructors

Ajay Shah

Vijay L Kelkar
Instructors

Vijay L Kelkar