National Food Security Bill

by Deepthi Sai

The Food Security Bill was passed in the Lok Sabha on 26 August. United Progressive Alliance (UPA) chairperson, Sonia Gandhi, called the bill “a historic step towards eradicating poverty” since it is targeted toward helping the less fortunate sections of our society. However, renowned economists believe that the Congress’ haste in getting the bill cleared when it is half baked only makes it evident that it is nothing more than a political gimmick to gather votes in the upcoming general elections. Given the timing of the introduction of the bill, almost all political parties are found compelled to endorse it.

The Droopy Rupee

by Deepthi Sai

A currency depreciation essentially entails a loss in the value of the currency with respect to other currencies. Thus, the cost of the foreign currency in terms of the depreciating currency increases. On 22nd August, the rupee breached a record low of Rs. 65 against the dollar.

Morsi's Ouster

by Shweta Chopra


Mohamed Morsi became Egypt's first Islamist president on 30 June, 2012 after winning an election considered free and fair following the revolution that toppled Hosni Mubarak in 2011. Egypt held the first stage of its post-revolution parliamentary election on November 28th, 2011. Islamist parties won about two thirds of the seats, half of which went to the Muslim Brotherhood, the party Morsi represents. Morsi, who won the presidential election with 51.7 percent of the vote, was sworn in on 30 June, 2012, becoming Egypt's first civilian and Islamist ruler.

Freakonomics: A Review

by Charumati Haran


Do you think economics is a boring, dismal science? Full of facts and figures, too theoretical and no scope for fun? In that case, Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven Levitt and Stephen Dubner will come as a pleasant surprise.

Pros and Cons of Legalizing Lobbying

by Charumati Haran


What does Walmart have in common with the Indian film Guru?

Not so long ago, Walmart made a disclosure in the US Senate that caused tremors in the Indian Parliament: Walmart had spent $25 million over four years in order to lobby American lawmakers and gain access to overseas markets, including India. Our Parliament was disrupted when the opposition demanded to know if Walmart had lobbied in India or paid bribes here. While lobbying is legal in the US, it remains illegal in India. As of now, a retired judge will be appointed to conduct a probe into these allegations.

Budget 2013: Economics vs. Politics

by Anisha Bhardwaj and Deepthi Sai


A microcosm economy is like a family. Just like every household, an economy needs to manage its expenditure and revenue flows. Simply put, a budget is an estimate of revenue and expenditure over a set period of time. In this article we aim to understand the key components of the budget for the coming fiscal year (2013-14) put forward by the Government of India.

Paradoxical Nature of Israel-Palestine Economy

by Geetika Nagpal


Since the birth of the yet-to-be-acknowledged Palestinian state, the violent conflict between Jew-dominated Israel and Palestine is yet to meet its end. The negative impacts of this raging hostility have rippled through generations and trickled down to all layers of the economy over time. The conflict has been intertwined with fluctuations in the productivity of the two economies as well as their governmental structure.

Coming Clean on Money Laundering

by Charumati Haran

Recently, the Hong Kong and Shanghai Banking Corporation (better known as HSBC), Britain’s biggest bank, was caught in a money laundering scandal. It was forced to pay a record $1.9 billion as fine. The allegation was that HSBC allowed drug lords and potential terrorists to launder millions of dollars through their bank. The penalty also includes a five-year agreement with the US Department of Justice under which the bank will appoint an independent monitor to assess internal controls. Various executives also have to forgo their bonuses. The bank itself has apologized for letting it happen and spent a great deal on reforms.

Organ Trade: To be or not to be?

by Charumati Haran

“A family which lost a 21-year-old son to an accident has bravely put its grief behind and come forward to give the gift of life to others. At its own initiative, the family asked doctors to harvest the son's organs - a decision that will help at least 34 people.”

This excerpt is from an article by the Times of India on 12 December, 2012. While this is not the place to discuss whether organ donation is right or wrong, it does lead to the interesting topic of organ trade. When organ donation is so successful and needed, why not legalize organ trade and create a market in it? This article seeks to discuss organ trade and its economic implications.