by Surabhi Chhikara, Deputy Editor At the stroke of the midnight hour when the whole world slept, India had just woke up from the long nightmare of colonial subjugation on 15th August 1947. With this nightmare over, began another- the Partition. The division of a nation into the two- India and Pakistan- not only meant [...]
Mr.Raghuram Rajan had recently criticized make in India as being a model that is too dependent on external demand and volatility. India's economy would then be much more vulnerable to financial crisis such as the one in 2008. While the space for the world's exporter is increasingly being left vacant by China, perhaps a more [...]
Availability Heuristic refers to how easily something that you've seen or heard can be accessed in your memory. People tend to think of things they remember, as more important, than things they don't remember as easily. It is a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating [...]
Finland is a small Nordic country situated in the Fennoscandian region of Northern Europe. The Finnish economy provides us with a great case study. Originally, after World War II , the economy struggled from having lost 10% of its productivity to USSR. It was further burdened with rising inflation, liabilities and growing population. And yet [...]
During the first session of Vishleshan with Mr. Rohit Azad on September 18th, 2013, the speaker discussed an interesting anecdote about the author of a lot of our textbooks, N.Gregory Mankiw (person in the picture): On one of the days when Mr. Mankiw used to teach Principles of Economics at Harvard University, a letter was [...]
An opinion that lingers in the minds of most economic students was finally voiced out by a final year economics student-Vasundhara. According to her, “All economic issues boil down to the fact that there are political influences, extensive lobbying and other varied pressures that prevent the implementation of many economic policies, be it at the [...]
“It is just as foolish to complain that people are selfish and treacherous as it is to complain that the magnetic field does not increase unless the electric field has a curl. Both are laws of nature.” ― John von Neumann This is how the great mathematician (sometimes referred to as the father of game [...]
Today is Statistics Day - seventh in a row since 2007. Every year this day is observed to mark the birth anniversary of Professor Prasanta Chandra Mahalanobis in recognition of his contribution to the field of Economic Planning and Statistic. Prasanta Chandra Mahalanobis was the chief architect of the post-independence statistical system in India. He [...]
"The only function of economic forecasting is to make astrology look respectable." -John Kenneth Galbraith, U.S. Keynesian economist
As the Securities and Exchange Board of India (SEBI) celebrated its twenty-fifth aniversary in the presence of PM Manmohan Singh and Finance Minister, P.Chidambaram, the capital market regulator still faces serious challenges, noted by Mr.Chidambaram himself, in addition to most journalists covering the story. Challenges particularly remain in the form of availability of trained manpower, [...]
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