Five Indian Women Economists We Should All Know About

Economics is one of the most influential subjects to be studied in the history of humankind. Also known as ‘Arthashastra’ in India’s historical language, economics studies how people make their financial choices in daily life. It, in any way, should not be taken as just the study of facts and figures, but rather be treated as an art of studying humans.

However, things are not as great as it seems within the discipline. The gender gap in the field of Economics is concerning. While a lot of women take it as a prospective career option, it usually ends after graduation. The gap is also evident when we look at the fact that only two women have gotten Nobel Prize in economic sciences until now.

But this gender gap shouldn’t question the credibility of work done by women in the field of economics. Over time India has seen some amazing pioneers who have made noteworthy contributions to the discipline and here is our chance to appreciate them.

Five Indian Women Economists

Gita Gopinath

Gita Gopinath, today is one of the top names among women economists worldwide. She is the first economist to be serving as managing director of the International Monetary Fund since January 2022. Prior to this, she served as the chief economist of IMF between 2019 and 2022. She completed her bachelors from Lady Shree Ram College, University of Delhi and went on to pursue a master's from Delhi School of Economics.

She also worked as a professor in econ department of Harvard and as an assistant professor at the University of Chicago Booth School of Business. Her work focuses on international finance and macroeconomics covering a wide range of issues like exchange rates, trade and investment, international financial crises, monetary policy, debt, and emerging market crises.

Jayati Ghosh

Jayati Ghosh is a renowned developmental economist. Ghosh pursued her bachelors from the University of Delhi, followed by a master's and M. Phil from Jawaharlal Nehru University. She further went to Cambridge University for her PhD.

She is currently the chairperson of the Centre for Economic Studies and Planning at the Jawaharlal Nehru University, New Delhi. She has written more than 200 scholarly articles and has extensively contributed to economics research. She is also the recipient of some of the most prestigious awards.

The core areas of her study include international economics, employment patterns in developing countries, macroeconomic policy, and issues related to gender and development.

Jayati Ghosh (The Wire)

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Bina Aggarwal

Bina Aggarwal is an Indian economist whose expertise lies in the field of development economics. She is a professor of Development Economics and Environment at the Global Development Institute at The University of Manchester. She has extensively contributed to issues surrounding land, livelihoods and property rights; environment and development; the political economy of gender; poverty and inequality; legal change; and agriculture and technological transformation.

She uses various creative and diverse methodologies and approaches to provide insights on land, livelihoods and property rights; environment and development; the political economy of gender; poverty and inequality; law; and agriculture and technological change. Her work made a significant impact on global academia, among policymakers, NGOs and governments.

Devaki Jain

Devaki Jain graduated from Mysore University in 1953 with three gold medals. She later went on to get a degree from St Anne's College, Oxford in Philosophy, Politics, and Economics, she then taught economics at Delhi University until 1969. She is the recipient of the Padma Bhushan, the third-highest civilian award from the Indian Government for her extensive contributions toward social justice and women empowerment. She was the founder of the Institute of Social Studies Trust in New Delhi.

She has done recognizable and pioneering work in feminist economics. Her work is significantly influenced by Gandhian philosophy. Her research has also focused on issues of equity, democratic decentralization, people-centered development, and women's rights. She has also shown notable involvement in local, national and international women’s movements.

Despite the prevalent gender-gap women economists have marked their presence on the global stage. These female economists continue to be an inspiration as well as the source of motivation for all the young economists out there!

Devaki Jain (Business Standard)

Rohini Pande

Rohini Pande completed her bachelor's from St. Stephens College, Delhi University. She is a Rhodes Scholar and holds a PhD along with an M.Sc. in Economics from the London School of Economics. Her exceptional list of educational qualifications also includes an M.A. in Philosophy, Politics and Economics from Oxford University.

She is currently serving as the Henry J. Heinz II Professor of Economics and Director of the Economic Growth Center at Yale University. Prior to this, she has also served as Rafik Hariri Professor of International Political Economy and Mohammed Kamal Professor of Public Policy at the Harvard John F. Kennedy School of Government.

Her research focuses on the economic costs and benefits of formal and informal sectors and how public policy can lead to change. In her work, she has examined how institutions can be re-designed to empower historically disadvantaged groups, how low cost but well-planned improvements can help in environmental protection, etc.