Self Paced Courses Economics

Economic Sutra: Modern Economic Policies and Ancient India

This course brings to light the economic ethics that had emerged in ancient India covering diverse treatises such Arthashastra, Shukranitisara, Ramayana, Mahabharata, Puranas, Upanishads, and the Vedas. Relevance of the ancient Indian economic thought is brought out in bold relief for the modern times.

Prof. Satish Deodhar


Science without history is like a man without memory. Economist Joseph Schumpeter too had said that visits, albeit brief ones, to the lumber room are profitable. Aim of this course is precisely to recover the family heirlooms! Many decades ago, Frank Knight of University of Chicago had rued that no ideas from India find a place in the literature on the history of economic analysis

Towards this end, we retrieve ancient India’s contribution to economic ethics and refresh the contribution juxtaposing against the mainstream literature on the history of economic thought. We refer to ancient Indian treatises such as Kautiliya Arthashastra, Shukranitisara, Ramayana, Mahabharata, Puranas, Upanishads, and the Vedas. Relevance of the ancient Indian economic thought is brought out in bold relief for the modern times

Sample Certificate*

* To be eligible for the certificate, you must enroll in the paid track option and successfully complete all the graded components of the course. Please upload your photo in the profile section to receive a completion certificate with your photo on it.

Course Content

Week 0: Welcome Week

Week 1: An Overview of Ancient Indian Economic Ethics

Week 2: Purusharthas: The Four Objectives of Life

Week 3: Ashrama and Varna: Stages of Life and Life Occupations

Week 4: Fiscal Policy

Week 5: Arthashashtra and Shukranitisara

Course Summary

Final Quiz

This course is for anyone who is interested in economic policymaking in the country and Ancient Indian Civilization

Prof. Satish Deodhar

Prof. Deodhar teaches economics at the Indian Institute of Management Ahmedabad (IIMA). He has a Bachelor’s and a Master’s in Economics from the Gokhale Institute of Politics and Economics and a PhD in Agricultural Economics from The Ohio State University. Apart from being the recipient of the Outstanding PhD Dissertation Award from the Food Distribution Research Society, USA, he was honored with the Distinguished Young Professor Award for Excellence in Research by IIMA (2008) and the Dewang Mehta National Education Award for Best Professor of Economics (2012 & 2015) by Business School Affaire

Prof. Deodhar has worked on imperfectly competitive market structures, World Trade Organization (WTO), agricultural trade, food quality & safety, and CSR issues. Besides, he has conducted research projects for India’s Ministry of Food Processing Industry, Ministry of Agriculture, Indian Bank, and Economic Research Service of the US Department of Agriculture. He was selected as the Hewlett Fellow of the International Agricultural Trade Research Consortium during 2006–2008. He has published research papers in national and international journals and has authored quite a few monographs. The publisher Penguin Random House has brought out 3 books authored by Prof. Deodhar. One of the books, Day to Day Economics, has gone on to become a national bestseller in the non-fiction category

Prof Deodhar has taken keen academic interest in economic ideas emanating from ancient Indian literature. His recent book, Economic Sutra brings out the economic ideas expressed in literature spanning from Ramayana to Mahabharata, Vedas to Upanishads, Arthashastra to Shukraniti, and Puranas to Sanskrit plays. A paper based on the theme of this book has appeared in the renowned journal The Annals of Bhandarkar Oriental Research Institute (BORI). Another paper titled Hindu Economic Ethics is forthcoming in The Oxford Handbook of Religion and Economic Ethics. Yet another paper throws light on the role of gold in the Indian economy through several millennia. Prof. Deodhar’s efforts had resulted in bringing out commemorative postal stamp and envelope in memory of the great 18th century Indian statesman, Bajirao Peshwa I

Prof. Deodhar was the first Convener of the computerised Common Admission Test (CAT) conducted by IIMs for admissions to the business schools. His pioneering work in converting CAT into a computer based test (CBT) was replicated subsequently for other admission tests such as Joint Entrance Examination (JEE) of the IITs. He has donned many administrative responsibilities at IIMA. He has been the Chairperson of Admissions, MBA programmes, Placements, and was also the Warden. Currently, he holds the office of Dean (Faculty) at IIMA. He is the Founding Member of Pune International Centre (PIC), serves on the advisory board of Savida Agricom, and was on the board of Asian Granito as an Independent Director

A learning path with Online@IIMA is adaptable, individualized and multifaceted. It is designed to foster an ecosystem where the learner will be capable of connecting micro modules to the core specialization - weaving the entire experience into a thorough learning opportunity towards a productive output or building sustainable solutions.

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  • Skill Level Beginner
  • Language English
  • Certificate Yes
  • Fees2,500.00
  • Start Date 05 Jan 2024
  • Duration 5 Weeks

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