Adam Smith : The Invisible Hand

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.                    -  Adam Smith

Goodness Gracious!

Economics is the only field in which two people can get a  Nobel Prize for saying exactly the opposite thing.

(Milton Friedman in 1976 vs James Tobin in 1981, for instance. Gunnar Myrdal andFriedrich Hayek even shared one in 1974).

Funny Economics

Economics is not renowned for being a bundle of laughs.
However there are quite a lot of good Economics Jokes. 
We will try to post at least one each week

Please enjoy :)

Q:Why did God create economists ?

A:In order to make weather forecasters look good.

    

Q. What does an economist do?

A. A lot in the short run, which amounts to nothing in the long run.

WELCOME BACK

Hi there everybody,
Welcome back to college and in particular to the Academic year 2016-17.
This is already an exciting happening year what with Rexit and Brexit.
we hope to liven up things on this page as well so keep coming back regularly and get your friends to like it too. :)
For starters check out this link from the Financial Times on Brexit and what it means:
http://on.ft.com/28SlIPS

Budget 2016 - Highlights

Check out this link
http://www.firstpost.com/business/budget-2016-key-highlights-that-you-and-me-should-know-about-2648610.html?utm_source=FP_CAT_LATEST_NEWS

Economic Survey presented on 26 February 2016

The Economic Survey for 2015-16 was tabled in Parliament by Union Finance Minister Arun Jaitley on Friday, 26 February 2016. 
The Economic Survey is the Finance Ministry's view on the annual economic development of the country that gives a broad idea on the macro-economic data, which will impact the budget decisions. 

Highlights of Economic Survey 2015-16:

• GDP growth rate for 2015-16 to be in the range of 7 % to 7.75 % 
• Amidst gloomy international economic landscape, India stands as a haven of stability
• Low inflation has taken hold and confidence in price stability has improved
• Services continues to be key driver; expected to be 9.2% in 2015-16
• Foreign exchange reserves have risen to US $349.6 (Jan-2016)
• Govt will meet its fiscal deficit target of 3.9% of GDP
• Agriculture sector needs a transformation to ensure sustainable livelihoods for farmers and food security
• Informal sector has  created  jobs and keeping unemployment low

• Schemes such as Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jivan Jyoti Bima Yojana (PMJJBY), and the Atal Pension Yojana(APY), were launched in 2015 in the insurance and pension sectors for creating a universal social security system for all Indians, especially for the poor and the underprivileged
• India can become the leading investment destination owing to its robust macroeconomic fundamentals
• Reserve Bank of India will meet 5% inflation target by the end of March 2017
• Reform package for the fertilizer Sector

Important dates to watch out for

FEBRUARY 23, 2016 : BUDGET SESSION OF PARLIAMENT BEGINS

FEBRUARY 25, 2016 : RAILWAY BUDGET

FEBRUARY 26, 2016 : PRESENTATION OF ECONOMIC SURVEY

FEBRUARY 29, 2016 : UNION BUDGET FOR 2016-17