A rich and lively student-teacher interaction is at the heart of SPJIMR's success. Our faculty members are known to be great teachers, who can bring alive the subject, encourage critical thinking and offer a wider, holistic perspective that is critical in today's complex business environment.

Our faculty members are drawn from academia, industry, government sector and non-profits. Collectively, they bring in a wide range of experience in building and delivering knowledge and skills to prepare participants for leadership roles.

The teaching-learning process at SPJIMR is vastly enriched by a series of non-classroom initiatives through which our faculty help build among participants the right attitudes to enable them lead with purpose, meaning and with an idea of service to society.

The average experience of the core faculty is over 18 years, with several who have come to academics after years of experience as practitioners. In addition, we have around 20 adjunct faculty and several more visiting faculty who engage with participants of various courses.


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Monika Gupta

Assistant Professor - Economics


Dr. Monika has completed her Doctorate (FPM) in the Economics and Business Environment area from the Indian Institute of Management (IIM), Lucknow. She has around six years of experience in teaching. Before joining SPJIMR she worked as Assistant Professor in Economics and Finance Area in BITS Pilani, Pilani Campus. She is NET-JRF qualified and has a master’s degree in Economics from Lucknow University where she received gold medal for securing the highest marks in the area. She has been awarded with the most prestigious Paul R. Lawrence Fellowship to participate in NACRA 2019. She has published research papers in peer-reviewed journals like Energy Economics, Journal of Cleaner Production, Energy policy and Transport Policy and presented her work in various national and international conferences. She has also attended training and workshops organised by MIT Sloan School of Management, National University of Singapore, Nanyang Technological University and BITS Pilani.


  • Fellow Programme in Management (PhD) from IIM Lucknow
  • Master of Arts (M.A.) in Economics
  • Bachelor of Arts (B.A.) in Economics and English

Research Interests 

Environmental Economics and Policy, Energy Economics and GHG Emissions, Transport Economics, Behavioural Economics 

Courses Taught

Managerial Economics, Macroeconomics, Economic Environment of Business, Principles of Economics, Public Finance: Theory and Policy, Project Appraisal

Awards and Achievements

  • Paul R. Lawrence Fellowship by North American Case Research Association (NACRA) to attend a program on case research, writing, and teaching during Annual Meeting and Conference of NACRA held in Arizona, USA in October, 2019.
  • Ecomod Scholarship Award to attend EcoMod Modeling School organized by EcoMod Modeling School in cooperation with National University of Singapore (NUS) in January 2018.
  • Scholarship from PwC and System Dynamic Society to attend System Dynamics Summer School at MIT Sloan School of Management in July, 2017.
  • WIPRO-XUB Best Paper Award at 2nd XUB Sustainability Summit organized by Xavier University Bhubaneswar at XIMB in 2016.
  • Doctoral Fellowship from IIM Lucknow to pursue PhD.
  • Awarded with Junior Research Fellowship (JRF) in Economics by University Grants Commission in Dec, 2009.
  • Qualified National Eligibility Test (Economics), a national level test to determine eligibility for college and university level lectureship.
  • Qualified for the post of Assistant Manager in Central Bank of India (Public Sector Bank) in 2010.
  • Gold Medal for standing the first rank in M.A. Economics at Lucknow University.
  • Gold Medal for being the best student in. M.A. in the Economics & Sociology department.

Monika Gupta

Assistant Professor - Economics


She has more than seven years’ experience in Academics -

  • Assistant Professor  (January 2020 - till date)

           Economics Area, SPJIMR

  • Assistant Professor  (April 2017 - January 2020)

           Economics and Finance Department

           Birla Institute of Technology & Science (BITS) Pilani,

           Pilani Campus

  • Visiting Faculty (July 2016 - April 2017)

            Economics and Finance Department

            BITS Pilani, Pilani Campus

  • Academic Assistant  (July 2015 - November 2015)

           IIM Lucknow

  • Assistant Professor, Isabella Thoburn College
  • Lecturer, Bhartiya Vidya Bhavan Girls Degree College, Lucknow


Industrial Exposure

Selected as students’ co-instructor and industry coordinator during the Practice School Programme of BITS Pilani.

  • For three firms - Bombay Stock Exchange (BSE), Mumbai Rail Vikas Corporation and WAT Consult.  Location: Mumbai, Duration: May-July 2017.
  • For Tata Steel BSL Ltd. Location: Delhi NCR, Duration: May-July 2019.
Research & Publications

Monika Gupta

Assistant Professor - Economics


Refereed Journals:

  • Mahalik, M. K., Villanthenkodath, M. A., Mallick, H., & Gupta, M. (2021). Assessing the effectiveness of total foreign aid and foreign energy aid inflows on environmental quality in India. Energy Policy, 149, 112015. (Ranking – ABDC – A, ABS-2)
  • Gupta, M. (2021). A Fuzzy Decision-making Approach to Evaluate CO2 Emissions Reduction Policies. Global Business Review, 09721509211014000. (ABDC and ABS listed)
  • Gupta, M., Bandyopadhyay, K. R., & Singh, S. K. (2019). Measuring Effectiveness of Carbon Tax on Indian Road Passenger Transport: A System Dynamics Approach. Energy Economics, 81, 341-354. (Ranking - ABDC – A*, ABS-3)
  • Sinha, A., Gupta, M., Shahbaz, M., Sengupta, T. (2019). Impact of Corruption in Public Sector on Environmental Quality: Implications for Sustainability in BRICS and Next 11 Countries. Journal of Cleaner Production, 232, 1379-1393. (Ranking – ABDC – A, ABS-2)
  • Gupta, M. (2016). Willingness to pay for carbon tax: A study of Indian road passenger transport. Transport Policy, 45, 46-54. (Ranking – ABDC – A, ABS-2)
  • Gupta, M. (2019). Decomposing the Role of Different Factors in CO2 Emissions Increase in South Asia. Studies in Business and Economics, 14(1), 72-86. (ABDC listed)
  • Gupta, M., & Minai, M. H. (2019). An Evaluation of Forecast Performance of GDP Growth in India. Global Business Review, 20(2), 368-386. (ABDC and ABS listed)
  • Gupta, M., & Singh, S. K. (2016). Factorizing the changes in CO2 emissions from Indian road passenger transport: A decomposition analysis. Studies in Business and Economics, 11(3), 67-83. (ABDC listed)

Press Articles

Maharashtra Budget 2021- 22: Expectations in the aftermath of the Pandemic published in Maharashtra Economic Development Council (MEDC) Economics Digest, February 2021.

Is it time to impose a carbon tax? In Opinion column of Financial Express, 25th July 2019.

Conference Proceedings

Contingent Valuation Method and Carbon Tax in Mitigating CO2 Emissions from Road Transport Sector: A Literature Review” presented and published in the proceedings of 7th Urban Mobility India Conference and Expo 2014 organised by Ministry of Urban Development, GoI and Institute of Urban Transport, New Delhi.

Manuscripts in Preparation

  • Use of Fuzzy Linguistic Approach in Evaluating Policy Options for CO2 Emission Reduction from Road Transport 
  • What Matters for the Environmental Quality in India? The Role of Remittances, FDI and Foreign Aid” 
  • “A Review of Carbon Tax and a Pathway for India”
  • “Demand Curve Estimation for a Carbon tax in Road Passenger Transport”
  • The Revenue Neutral Carbon Tax of British Columbia and its Implications for India
  • An Empirical Study of Rebound Effect Estimation for the Transport Sector in India”

International and National Conference Papers Presentations

  • "Modelling the impact of Weather Conditions on Passenger Mobility" presented online at IAEE International Conference (June, 2021)
  • “Clean Environment Cess in India: Cess or Mess” start-up case presented in roundtable during the NACRA (North American Case Research Association) 2019 Conference held in Tempe, Arizona, USA (Oct, 2019).
  • “Environmental and Economic Implications of British Columbia’s Carbon Tax for India” presented at 27th EBES International Conference organised by the Eurasia Business and Economics Society (EBES) and Faculty of Economics and Business, Universitas Sebelas Maret (FEB-UNS) in Indonesia with the support of the Istanbul Economic Research Association (January, 2019). 
  • "Measuring Effectiveness of Carbon Tax on Indian Road Passenger Transport: A System Dynamics Approach" presented at 41st IAEE International Conference in Groningen, Netherlands (June, 2018).
  • Decomposing the CO2 Emission Increase from Road Passenger Transport in India" presented at 2nd XUB Sustainability Summit on 'Energy, Peace and Global Governance' organized by Xavier University Bhubaneswar at Xavier Institute of Management, Bhubaneswar (XIMB) (August, 2016). 
  • "A Review on Implementation of Carbon Tax in Mitigating CO2 Emissions from Road Transport Sector: A Contingent Valuation Approach" for Winter School 2015 held at the Delhi School of Economics (December, 2015). Also presented at 3rd PAN IIM World Management Conference held at the IIM Indore (December, 2015).
  • "Economic Development and CO2 emission increase in South Asia” accepted for presentation at 51st Annual Conference of the Indian Econometric Society (December, 2014).
  • Forecast Performance of GDP growth in India” presented as a poster at 2ndPan-IIM World Management Conference, held at IIM Kozhikode (with a co-author Mohammad Haris Minai) (November, 2014).
  • “An Empirical Analysis of Determinants of Carbon Dioxide Emissions in South Asia” presented at The Second Annual European Conference on Sustainability, Energy and the Environment (ECSEE) organised by The International Academic Forum held at Brighton, United Kingdom (July, 2014). Also Accepted for 14th IAEE European Energy Conference organised in Rome (October, 2014). 
  • Determinants of India’s Current Account Deficit and its Relationship with Fiscal Deficit in India” presented at XLRI Doctoral Consortium, Jamshedpur (October, 2014).
  • “An Empirical Study of Cartelization in Indian Cement Industry” presented at AIB India-MENA 2014 organised by Academy of International Business, held at IIM Udaipur (February, 2014).

Sponsored Projects

Received Research Initiation Grant for the project: “Environmental and Economic Implications of British Columbia’s Carbon Tax for India” (Completed).

Role: Primary Invigilator; Amount: INR 2,00,000; Funding agency: BITS Pilani; Duration: 2017-2019.

Additional Information

Monika Gupta

Assistant Professor - Economics


Workshops and Professional Training

  • A program on case research, writing, and teaching during Annual Meeting and Conference of NACRA held in Arizona, USA in October, 2019.
  • A course on Energy and Environmental CGE Modeling with GAMS organised by EcoMod Modeling School in cooperation with the Singapore Institute of Statistics c/o Dept of Statistics and Applied Probability, National University of Singapore (NUS).
  • System Dynamics Summer School at MIT Sloan School of Management, USA in July 2017.
  • Teaching Learning Workshop (part 1 and 2) on pedagogical tools at BITS Pilani.
  • Workshop on Team-Based Learning conducted by Dr. Preman Rajalingam from Nanyang Technological University (NTU) and organised by BITS Pilani in March 2019.

Invited Lectures

  • Invited to take a session on Selecting the Research Topic: A Funnel Approach” during a two-day workshop on Research Methodology for Research Scholars in BITS Pilani, Pilani campus in February 2019.
  • Conducted a session on "Market Structure and its Business Implications” for first-year PGP students at IIM Lucknow.


  • Member of the Indian Econometric Society
  • Member of Eurasia Business and Economics Society
  • Member of International Association of Energy Economics

Monika Gupta

Assistant Professor - Economics



Monika Gupta

Assistant Professor - Economics


Academic Area

Monika Gupta

Assistant Professor - Economics


Bhavan's Campus
Munshi Nagar | Dadabhai Road,
Andheri West | Mumbai - 400 058, India
Reception: +91 22 61454200
Delhi Centre
Bharatiya Vidya Bhavan Campus, 
3rd Floor Gate No. 4, Copernicus Lane
Kasturba Gandhi Marg, New Delhi-110001
Telephone: 011-23073121, 011-23006871
Direct Line: 011- 23383563

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