Archive for February 22nd, 2011

Market for trading IIT JEE toppers!

February 22, 2011

Gulzar points to this interesting newsitem. People always have some innovative ideas for making money.

This person figures out the huge demand for toppers at IIT’s entrace test by the various IIT training institutes. He would figure out the toppers from few places and then sell their names to the coaching institutes. The coaching institutes would then have a choice to pitch their coursework to these students or even pay them, so that their names and pictures could be released with the institute’s name at the time of results!

 The whole thing was then exposed by ToI. Well, what can one say to this??

This huge caraze for IIT and lack of promising careers in other professions leads to all kinds of perverse incentives as Gulzar calls it. Just look at the stakeholders and huge stakes in what is just an entrance exam.

Economic lessons from game of monopoly

February 22, 2011

Monopoly, the famous board game (I learnt it too came up after the depression) has gone through a major change. The old game will continue but there is a new variant .

In the new variant, there would be no dice or bank. Instead, there is an infrared tower which will issue instructions and keep track of money. It will. make sure players stick to their rules. This is done to fight competition from  online games:

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Tata Jagriti Yatra….what an initiative

February 22, 2011

India continues to live in paradoxical times as always. On one side you get public which is frustrated with state of affairs and wondering where to start. On the other side you have some initiatives which try to bring the best given the tough times.  

Indiadevelopment blog alerted about this superb initiative called Tata Jagriti Yatra. It kind of rhymes with Tata Tea’s Jaago re campaign on corruption but is on different lines.

It is more about awakening youth on the spirit of entrepreneurship in India- both social and economic. It is a 18 day train ride which takes you to different parts of the country sharing thoughts with entrepreneurs. The final objective is to help the youth become job creators and not job seekers.

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Brief profile of Gita Gopinath

February 22, 2011

There is a nice profile of Gita Gopinath, the first Indian woman with tenure in Harvard’s Department of Economics. 

She points how her son has learnt the tricks of the game at age of 7:

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Does free trade and outsourcing always deliver?

February 22, 2011

The oldest issue in economics keeps burning.

Mankiw recently wrote an article urging US policymakers/public to take emerging markets as partners not rivals. He says the recent speech from Obama might indicate that China and EMEs are threats to US economy. They are not.

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