MAKE FOR INDIA : A better alternative

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 [...]

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AVAILABILITY HEURISTIC : How It Affects Our Decisions

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 [...]

“Out of the box, straight from the heart”

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…

“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 [...]

Statistics Day is here!

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 [...]