The first session of the QIP of the Department of Economics was handled by Dr.Krishna Raj, Professor, ISEC, Bangalore. Dr Krishna Raj started his presentation by exploring the various meanings of globalization, focusing on its economic aspects – the exchange of knowledge, notably concerning technology; the expansion of commodity trade; the increasing movement of people and of capital; but taking a much broader context, including political and cultural interactions and the movement of disease, crops and animals. The second session was handled by Dr.Manu Mathai, Professor, Ajim Premji University , Bengalore. He discussed about New Frontiers in Environmental Economics. In the third session Dr Divya Pradeep discussed about Pedagogical Implications of Pluralism in Economics Education. Last session was handled by Dr Varadurga Bhat. It began with a brief introduction to the interlinkages between international trade and environment. The relevance of using trade and technology transfer for mitigation of carbon emissions and to achieve sustainable development was discussed.
Dr Ramachandran in his presentation outlined the emerging trends in Banking, where he stated that most of the banks have begun to take an innovative approach towards banking with the objective of creating more values for customers and consequently the banks. He also said that banking environment has become highly competitive today. In the second session Dr Freddy discussed on Interface between Law and Economics. The law and economics movement applies economic theory and method to the practice of law. It asserts that the tools of economic reasoning offer the best possibility for justified and consistent legal practice. It is arguably one of the dominant theories of jurisprudence. Third session was handled by Dr. Madhusoodhan on Business Analytics. The last session of the day was handled by Dr Greeshma Manoj on Emerging Areas in Public Economics.
The session on the topic ‘New Frontiers in Entrepreneurship’ was handled by Dr. Santhosh C. The session was started with the ideas of J B Say and Shumpeter on entrepreneurship. A special mention of the term disruptive technology as coined by Joseph Shumpeter was taken for further elaboration. The three eras of entrepreneurship, namely Economics Era (1870-1940), Social Sciences Era (1940-1970), Management Era (1870 onwards) were highlighted in the presentation. The session was focused on the Small and Medium Enterprises (SMEs) and different aspects related to their internationalization. The presentation was followed by sharing of ideas and opinions by faculty members. Last session of the QIP was handled by Dr.Meenakshi Rajeev, Professor, ISEC Bangalore. The resource person gave a clear idea on the history of Game Theory with illustrations from Von Neumann and Morgenstern in 1944, and took the audience to minimax strategy and golden age of game theory in 1950's and 1960's. During 1950's John Nash made significant contribution to bargaining theory and Nash equilibrium. The resource person clearly explained the concept game theory and its application and how individuals and groups use game theory to make decisions. Explanations were also given on game theory and decision theory. The discussion further went on to the types of game and elements of a game. This lecture got over at 12.45 PM with discussion and vote of thanks.
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