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Indian Institute of Management Calcutta

The Global Economy – Volatility, Uncertainty, Complexity and Ambiguity (VUCA)

Available dates

Jan 13—16, 2020
4 days
Kolkata, India
INR 65000 ≈USD 913
INR 16250 per day


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About the course

The objective of this program is to share some of the emerging issues of VUCA concerning the global economy and some techniques that are applied in analyzing elements of VUCA.

As national economies have become more integrated and inter-connected as a characteristic of globalization, the world economic systems have become much more complex. One characterization of this complexity is the difficulty in making predictions in a deeply uncertain world. Another aspect of the complexity has been the volatile nature of financial capital flows and the financial market indicators encompassing equity, bond, forex and commodities. It has often been observed in recent times that some economic problems can be analyzed from alternative perspectives that make the solution space ambiguous. Illustratively, views of fiscal stimulus versus austerity have differed grossly even among mainstream economic thinkers and policy makers.


  • VUCA – Concepts of Variability, Uncertainty, Complexity and Ambiguity
  • Introduction to measuring the extent of VUCA and Its limitations
  • VUCA in the Global Economy
  • VUCA and Financial Markets
  • VUCA and Country Risk
  • VUCA in the context of BRICS countries
  • Corporate Strategy in a VUCA world

Who should attend

Senior Management

Trust the experts

Partha Ray

Partha Ray is currently Professor of Economics at the Indian Institute of Management, Calcutta where he teaches Macroeconomics, Global Political Economy and Issues in Monetary Policy. During 2007 – 2011 he was Adviser to the Executive Director (India) at the International Monetary Fund, Washingto...


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