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Madras School of Economics expects to increase its student intake by 100 students to 250 students from 2011-12.
It offers three new courses Applied Quantitative Finance, Actuarial Economics and Environmental Economics apart from Master's in Economics and Financial Economics.
Monetary support
Mr D.K. Srivastava, Director, Madras School of Economics, told Business Line that MSE has been requesting for financial support from the Finance Ministry for the last two to three years in order to attract and retain talented faculty so that the institute remains competitive.
Currently there are 15 faculty members, MSE plans to recruit two to three more.
Expenses
The Finance Minister, Mr Pranab Mukherjee in his recent budget speech had granted Rs 10 crore to MSE.
The institute expects to build a new academic block, augment its library and hostel facility to support the intake of new students from the budgetary allocation.
“We had requested for larger grant, but the recent budgetary grant would be sufficient to meet the additional faculty and facility”, he said.
Three years ago the Finance Ministry had given Rs 55 lakh to meet the capital expenditure.
No govt grant
The 15-year-old institute which specialises in Economics has no recurring grant from the government.
The expenses of MSE is met by interest earned from the corpus fund of Rs 1 crore, student's fee and various sponsored projects from government and the industry.
The average sponsored project would range from Rs 5- 25 lakh depending upon the project cost and period.
MSE gets funds from corporates and banks for research and developmental work as these funds are considered for tax exemption.
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