Department of Economics

Guest Lecture-A Report

The Department of Economics organized a guest lecture by Dr. Satish K. Batra on 7^th August 2013. Dr Batra was associated with the department of economics, University of Rajasthan and is currently working as the Deputy Director, Bhartiya Vidya Bhawan.

He delivered his lecture on ‘GLOBALISATION – Chasing the Chimera’. In the words of  Mr. Narayan Murthy, “ Globalisation is about sourcing capital from where it is cheapest, producing where it is cost effective and selling where it is most profitable, all without being constrained by national boundaries. “

Starting from the era of License, Permit and Quota, he threw light on the advent of Liberalisation, Privatization and Globalization in India. He said that every country needs rapid social economic growth which must involve stability, equality and sustainability. He discussed the various dimensions of Globalisation including its advantages and disadvantages. He further made his lecture interesting by taking examples from day to day life including books like  ‘The World is Flat’ by Thomas L Friedman’ and ‘The Discontent of Globalisation’ by Joseph Stiglitz.

Further, he emphasized that the world requires Globalisation with Ethics, Equity, Inclusion, Human Security, Sustainability and Development. Comparing globalisation with Lord Ganesha, he concluded that Globalisation is easy to conceive, fascinating to perceive and impossible to achieve.

The lecture was followed by a brain storming session wherein Dr.Batra answered various queries of students and faculty members.

Sristhi Singh, B.Sc Honours (Sem V ), Department of Economics

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Globalisation- Chasing the Chimera

A REPORT

                                                    Date: 7 AUG 2013

Time: 10:30 am

The increasing economic and financial integration of economies around the world is well evident. Henceforth, The IIS UNIVERSITY organised a guest lecture on “Globalization – chasing the chimera” by an eminent speaker DR Satish Batra who has been  associated with the Department of Economics, University of Rajasthan, and is  presently working as the Deputy Director of Bhartiya Vidya Bhavan, jaipur.

Dr Batra compared Globalistion with chasing the “chimera” which implies an impossible task of chasing a female monster with a lion’s head, a goat’s body and a serpent’s tail which breathes fire. He also differentiated between LPG (liberalization, privatization and globalization) and LPQ (license, permit and quota) highlighting the policies of both and emphasizing the need of LPG in today’s world.  He summarized the key features of Globalisation including the advantages and the disadvantages. The positive side of globalization includes faster growth, self reliance, increased employment and income levels and structural changes in the Economy in favour of tertiary sector.

The negative side of globalization includes anti-developmental and inequitable growth, dichotomous development etc. He concluded the topic  by comparing Globalisation with Lord Ganesh. Lord Ganesh is easy to conceive, fascinating to perceive impossible to achieve.

Amruta Pandey, B.Sc Honours (Sem V ), Department of Economics

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