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Mumbai students win the 2nd edition of the Young Economist Research Competition

Wednesday, February 06, 2019
By A Staff Reporter

50 teams participated from all over India with eminent economists and academicians judging the competition

Meghnad Desai Academy of Economics (MDAE), institute for post-graduate Economics recently concluded its 2nd edition of The Young Economist Research Competition (YERC). Students from Jai Hind College, Mumbai won the first prize at the competition while students from Symbiosis, Pune won the second prize.

The finalists presented their papers on a variety of economic concepts which are relevant in the current economic environment. For instance, most number of teams presented papers on Gig economy, and it was interesting to see the concept being analyzed through so many perspectives. The winning presentation, from Gargi Mishra and Ritika Divekar of Jai Hind College, Mumbai, however, was on an extremely engaging topic ‘Is Inequality Efficient?’. To answer that question they further broke their study into questions “What is the true cause and effect relationship that exists between socio-biological inequality?” and “Is social bias the only impediment to equitable employment opportunities?”.  They conducted primary survey to substantiate their answers to the questions. All in all, their presentation was well-explained, straight-forward and crisp and hence well-deserving of the first place.

Commenting on this year’s YERC and the need of such platforms to keep the study of economics relevant in today’s world, Karan Shah, COO, MDAE, said, “It gives us great joy to successfully complete the 2nd edition of YERC and give students of economics a chance to express their viewpoint on the economic situation today. The competition was judged by some of the most eminent economists and academicians such as Mangesh Soman, Joint President Corporate Economics cell, Aditya Birla Group, Professor Shagata Mukherjee, Associate professor at MDAE, and Prakhar Mishra, Associate at IDFC Institute. Through their precise insights and analysis of the research papers, the students were also able to identify newer ways of looking at a particular situation and approaching economic scenarios from various angles. We hope to continue giving budding economists a platform to express their divergent views that have the potential to transform the domain of economics substantially.”

The second place went to the team from Symbiosis, Pune. Their paper was on the topic “Are Gigs the solution to the problems in the Labour Market?” They explained the role of technology in the growth of Gig economy. The team, comprising Riten Dhawan and Souraja Ghosh, had conducted an extensive study and historically as well as theoretically explained the perspectives substantiating it with statistical inferences of the growth of gig economy over the years. Gargi and Ritika were given a sum of Rs 7500 and an opportunity to be a Research Assistant at MDAE while Riten and Souraja were given a sum of Rs. 5000.

A platform for budding economists from all over the country to present research papers and studies about the latest trends influencing national and international economy, YERC’s 2nd edition commenced during September last year. Over the course of 5 months, 6 teams were chosen out of 50 teams participating from all over the country.

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