Brief History of Department :
The Department of Applied Economics has been in existence since 1921, the very year of the inception of the University of Lucknow. The department has been headed by eminent persons. It is presently headed by Prof. Madhurima Lall. Noted scholars like Dr. D. Pant, Dr. A.M. Lorenzo and Dr. S.R.K. Rao have been on the staff of the department. In 1962, the department introduced a separate RG. degree of M.Com. (App.Eco.) to prepare the students for the emerging areas of Applied Economics in view of its growing importance. The department inter-alia encompasses a wide range of fields like Economic Development and Planning, Business Economics, Public Finance and Policy, Public Utility Economics, International Trade and Foreign Exchange, International Banking & Finance, Applied Business Statistics, Transport and Rural Economics, etc. In the recent years, new discipline such as Accounting for Economic Decisions, Quantitative techniques for business decisions and Computer Applications have been introduced in the department to update the courses and make them job-oriented. The department also offers research programs leading to Ph.D. and D.Litt degrees in Applied Economics.
The Department is supported by a first-class research library open to all members of the University. It possesses approximately 350,000 books and more than 2,000 periodicals on open shelves. Over 48,000 e-journals and 1,000 online databases can be accessed 24/7. There are 400 reader places and special study rooms reserved for graduate students.
The research interests cover virtually every aspect of modern economic analysis and its applications. Active research groups include: Econometrics, Macroeconomics, Microeconomics, Industrial Economics, Labour Economics, International Trade, Development Economics, Economic History, Financial Economics, Resource Economics.
The three year format provides training in graduate level Economics For those planning to Progress to a doctorate the course provides high level analytical training, and have to clarify pre ph.d Coursework as part of the doctoral thesis. The M.Com. degree combines study of core subjects to a high level, opportunity to study specialised field subjects, and the experience of writing a research paper, providing an excellent foundation for a career as a professional economist. These advantages fully justify the additional effort and costs involved in a two-year programme.
The MCom has an average intake of 150-160 students. The Department will normally only admit students who have performed very well in their undergraduate education, at the level of a First Class Honours degree or its equivalent. Most students on the course have had their undergraduate studies devoted in whole or in part to economics, but we also have significant numbers with an undergraduate degree in other subjects. It is possible for students without exposure to formal economics (for example, students with an undergraduate degree in mathematics or the physical sciences) to do very well on the course.
We are seven at present with 287 publications, 39 books, 6 Major Research Projects of Rs 26.75 lacs, 4 D.Litts, 4 Awards, approx 11 international conferences outside India.