Higher educational institutions should add to research knowledge: C Rangarajan

Research is as important as dissemination of knowledge. Ultimately an institution is justified not only by what is conveyed through the existing stock of knowledge, but also by creating and growing new knowledge. “There are two roles for higher education institutions: the main function is to disseminate knowledge already gathered. A good teacher can be a good scholar, but perhaps not an innovator. Another role for an institution is to add to the stock of accumulated knowledge, and its contribution to research is important,” said C. Rangarajan, former Governor, RBI, inaugurating the Great Lakes Institute of Management’s Fellow Programme in Management (FPM), here on Tuesday.

Students in the FPM would be mentored by leading international faculty from the US and Europe. The focus on high quality research and guidance of faculty who have published in top-tier academic journals, would help students gain in-depth knowledge on core disciplines such as economics, psychology, and statistics, while mastering research methods such as experimental design, machine learning, and econometric modelling.

Suresh Ramanathan, Dean & Principal, Great Lakes Institute of Management, said, “Putting India on the global research map is important. We are proud to launch a programme that is truly benchmarked to global standards and will draw upon a network of highly accomplished scholars globally, which will lead to impactful research.”

The FPM at Great Lakes Chennai is helmed by Prof. Vidya Mahambare, Union Bank Chair Professor of Economics and Director, Research, at the Great Lakes Institute of Management, Chennai. “This programme’s co-mentorship model ensures personalised guidance and support, preparing fellows not only for impactful research, but also for a successful academic career, equipped with advanced teaching techniques. To support research scholars, the programme offers a 100 per cent tuition fee waiver and an additional stipend to fund their research activities and living costs.”

The FPM course is organised into two phases. In Phase-1, spanning Years 1 & 2, students engage in an immersive curriculum covering various management domains, culminating in the creation and presentation of two research papers, each subject to evaluation by the entire faculty. This phase is instrumental in laying the groundwork for a robust research portfolio. Phase-2, spanning Years 3-5, follows the successful defence of the second-year paper, wherein students embark on their doctoral dissertation journey. They work closely with faculty advisors and a dedicated committee to refine their research topics, craft a formal proposal, and ultimately defend their dissertation, culminating in the award of the FPM degree.

Gautam Lakhamraju, COO & Admissions Director at Great Lakes, said, “For the Doctoral Program, in the first year we are looking to select five-six scholars with demonstrated potential for research, and these candidates will be chosen based on a rigorous selection process based on their competitive test scores, as well as their academic and professional track records.”

The programme offers a stipend of Rs 50,000 for the first two years, which will increase in the consecutive years of the course. Students will be accepted through a rigorous admission process, including competitive exams such as the JRF(NET)/CAT/XAT/GMAT/GRE, along with a comprehensive profile-based evaluation.

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