Dr. Bibek Ray Chaudhuri is the Head of the Economics and Trade policy department at the Indian Institute of Foreign Trade, Kolkata. He has completed his Ph.D. in the field of Economics. He has a total experience of over 17 years in teaching and research. His area of teaching includes courses on Macroeconomics, Development Economics and Empirical Trade to masters and PhD students. He has been involved as a researcher in around 20 projects sponsored by international organizations, the Government of India and State-level bodies. He has been a recipient of the prestigious “Japanese Award for Outstanding Research on Development”, 2010 conferred by the Ministry of Finance, Government of Japan and Global Development Network (GDN). 

IIFT Kolkata

What are your roles and responsibilities towards the students?

“Teaching and providing students with the essential tools to excel academically”

My most important role is to make them understand the basic concepts of Micro and Macroeconomics. This should enable them to make the right decision at the strategic business unit level. Also, they are introduced to Indian and International economics policies and principles. Teaching, guiding them for dissertation, exams-in-charge are additional duties.

How do you make your subjects industry-oriented?

“A practical learning approach and expert interactions with top leaders”

Firstly, we regularly update our courses in consultation with industry experts. Next, we try to give examples and cases where the link between theory and reality can be established. Finally, industry experts are called for delivering particular sessions for the students. From the 2nd year, economics is taught through case studies and data analysis by using the software.

What are the best practices offered by the department to the students?

“ The courses are designed and delivered according to accepted AACSB accreditation standards”

  • The courses are well structured and clearly communicated to the students. 
  • We have an in-house virtual platform where all course-related information and materials are uploaded and can be accessed by the students remotely. 
  • A course on Indian economics which they study after knowing Microeconomics and Macroeconomics helps them to know the economy of their own country. It’s a seminar-based course. 
  • In the 2nd year, 3-4 elective courses are offered to make them stronger in the area. 
  • To understand the budget the department club organized a National level Event called” Budget Xpress” analyzing the budget in detail.

How do you strategize the curriculum and how often it gets updated?

“A yearly upgraded curriculum including in-depth teaching and learning modules”

The curriculum consists of lectures, case discussions, presentation by students, article analysis etc. It helps make the learning wholesome. To keep it updated, changes are made every year. It is designed based on industry needs. 

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How do you help your students thrive in today’s competitive world?

“A rigorous academic environment to bring out the best in the students”

We promote an academic environment that facilitates the holistic growth of students. Often there are deadlines for submission of assignments, which require good time management and team player skills. Apart from that, they are motivated to take part in inter-B-School competitions where they have performed very well. 

How does the college enhance the skills of the faculty?

“The Institute funds the training of the faculties regularly from the best Universities”

The faculty appraisal system is very strong in IIFT. It includes research works, MDP, FDP, workshop, Paper presentations, project works, writing case studies etc. IIFT follows Harvard case studies in the classes, supported by many other online resources.

What are the interventions you bring in apart from the curriculum to teach the students?

“Experiential learning has paved the way for modern learning techniques”

My main focus is on the course-based project. When students apply the theoretical concepts, they learn effectively. Group discussion in the Indian economics course has helped a lot. Also, the research-based projects in the econometrics course and Indian economics course helped them to build their research skills.

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What valuable advice would you like to the students for a prosperous career ahead?

“To become an effective leader one must first become a good human being”

The students must understand the social, economic, political, technological and ecological environment of their surroundings. The values of discipline, integrity, and justice help them to grow in their positions. With all the basic knowledge they should become good decision-makers.