Cornell Insider

a blog by the writers of the Cornell Review

Posts Tagged ‘Cornell Economics’

Basu Checks in From India

Posted by Cornell Insider Staff on July 8, 2010

The WSJ blog has an article about Kaushik Basu, the former Cornell Econ Department Chair, and his progress as the chief economic advisor to the Government of India. He says that the Indian bureaucracy was definitely a change of scenery from the hallways of Uris:

In his first few weeks in the job, Mr. Basu had his moments of self doubt about what he had landed himself in. He is on a sabbatical from Cornell University in New York state, where he is a professor in economics and international studies.

“In those moments I told myself that if Malinowski could spend months at a stretch in the wilderness of the Trobriand Islands, surely I could do two years in the North Block,” he said, referring to Bronislaw Malinowski, the famous Polish anthropologist.

Mr. Basu comforted himself with the thought that if nothing came of it all, he could be an observer and chronicler of the Indian bureaucracy like an anthropologist and call it “Tristes North Block.” That would be his ode to Claude Levis-Strauss, the French anthropologist, ethnologist and author of “Tristes Tropiques,” who passed away in 2009. So, for the first time in his life, Mr. Basu now maintains a diary.

Something has come of it all, though, and Basu has since had a “sizable hand” in many economic policy decisions. He says that his only regret is that he doesn’t have as much time to pursue his academic interests– hopefully he’ll have plenty of time for those once he returns to the 4th floor of Uris, or, perhaps Day Hall?

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Cornell Bottomless Soup Bowl Experiment

Posted by Cornell Insider Staff on June 12, 2010

I just got done reading Nudge, the NYT bestseller that argues for economic policies motivated by behavioral economics. These policies fall under the umbrella of what the authors call libertarian paternalism, or a set of policies that attempt to “nudge” people towards making better decisions without restricting their freedom of choice.

The book is full of fascinating economic studies and experiments– many of them done by Cornell professors– but the one study that jumped out the most was AEM Professor Brian Wansink’s experiment that investigated whether people judged their fullness by how much was left on their plate or by how much more they really wanted to eat. Subjects walked into a lab and were told they could eat as much Campbell’s soup as they wanted for 15 minutes. But unbeknownst to the subjects, one treatment involved bowls that refilled themselves automatically as the subjects ate more. The study found that students with the self-refilling bowls ate significantly more than their control group counterparts. According to this Sun article from 2007, this experiment won Wansink an Ig Nobel Prize back in 2007.

This book is a quick and enjoyable read for anyone, even if you don’t have an economics background. If you have taken Econ 3580, skip the first half of the book and get right into the new “nudges” that apply to organ donations, environmental policies, and marriage privatization.

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MRM #50

Posted by Cornell Insider Staff on May 24, 2010

Infrared on art display at Cornell

Combination of 2 30-sec exposures

Infrared by Lucas on display at Insider

- Cool infrared Cornell photos on display at Mann, but not as cool as Luke’s.

- Two new Deans appointed for CALS and Engineering.

- Ithaca Journal article on the fences, which may be here to stay for another 8-10 weeks.

- An Ithaca cult that believes in “strict education of children and their removal from formal educational establishments.” Weird.

- Great new research on religious identity and economic behavior.

- More on Cornell’s refinancing.

- New endurance record for mars missions.

- An interesting note about Ithaca cops trying to “protect Ithaca’s college town image.”

- Cornell scientist identifies the White House Rat as a meadow vole with 99% certainty.

- Government Professor Kirshner weighs in on Iran.

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MRM #49

Posted by Cornell Insider Staff on May 16, 2010

Another extended Monday Reading Madness to help with your exam week procrastination.

May has finally arrived.

- Forget Wilson Farms, someone tried to rob the 99 cent store on Elmira road last week.

- Has anyone seen this missing Ithaca statue?

- As Lynah shuts down for a couple of months, another kind of hockey is catching on in Ithaca.

- In light of the progressing Stanley Cup Playoffs, here’s a quick look back at Cornell superstar Ken Dryden’s debut with the Montreal Canadiens.

- Great Chronicle article on Cornell hockey senior Colin Greening.

- You’ve probably seen this already, but if not, it’s worth watching.

- Lacrosse needs 30T, but gets an 11-10 W over Loyola.

- Former Sun columnist Mark Coombs says its time to open up convocation.

- Ithacating’s post on potential new development on West Hill.

- Higher education is the top tourist attraction in Tompkins County, with 47% of visitors coming to see either Cornell University or Ithaca College.

- ILR researchers conclude that alcoholism is a growing problem for retirees.

- Former Economics Department Chair Kaushik Basu addresses the issue of university autonomy in India.

- I’m certainly doing an unpaid internship this summer. Sort of.

- More Americans cite immigration/illegal aliens as the top problem facing our country.

- Pew Research has documented some “reactions to words and phrases frequently used in current political discourse.”

- Cornell Law Professor William A. Jacobson comments on the Kagan nomination.

- Roger Pilon asks: does Kagan support limited government?

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Basu Predicts Continued Economic Growth in India

Posted by Cornell Insider Staff on February 27, 2010

Check out this WSJ article on the work of Kaushik Basu, former Chair of the Economics Department and now top advisor in the Indian finance ministry. Basu recently released an economic survey that predicted Indian growth returning to 9% by the end of this year. In addition to focusing on cutting the federal deficit and controlling inflation, he is also working on cutting corruption in the distribution of subsidized foods:

“You can give the target population double the benefits by spending half the money—and once you save that money, you can direct it to improving human capital, infrastructure and deficit control,” said Mr. Basu, who became top adviser in the ministry of finance in December, taking a leave from Cornell University, where he teaches economics.

So far, so good, Professor Basu.

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MRM #24

Posted by Cornell Insider Staff on November 8, 2009

Basu

from Cornell.edu

- Krauthammer: “The Myth of ’08, Demolished.”

- Economics Chair Basu will be leaving to serve as one of India’s top economic advisors.

- Roundup: bloggers meet with the Treasury.

- The S.A. voted to reinstate Ken Glover.

- From MR, a good post on how competitive college have recently become more competitive.

- A new national park will be created at the crash sight of flight 93.

- It’s only a matter of time until Obama decides to tackle education.

- Friday afternoon provided some of the most ridiculous news to hit Cornell recently – an absurdly dirty private conversation gone public in the Johnson school.

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The Economics Art Gallery

Posted by Cornell Insider Staff on October 7, 2009

There is now a temporary art studio in the foyer of the Economics Department in Uris Hall. According to to the Economics Department, “while the faculty, staff, and students in the department continue their normal business and scholarship, the artist-in-residence will share their space to make a new artwork.” Live views here.

[UPDATE]

Insider reporter Dennis Shiraev does a little investigative reporting into this ‘art’ scene down at Uris. Here’s the shot of him in action:

So does this make the the Insider temporary artists?

So does this make the the Insider temporary artists?

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What You, Cornell Economics Major, Should Be Reading

Posted by Cornell Insider Staff on September 24, 2009

It’s a comprehensive list of the “100 Best Blogs for Econ Students.” I’ve read about a fifth of these at some point. As always, I highly recommend Marginal Revolution, Becker-Posner, and Overcoming Bias, but most of these are quality economics blogs.

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New Undergraduate Degree $Rankings$

Posted by Cornell Insider Staff on September 8, 2009

This new College Salary Report should provide some solace to our new freshman engineers, who will soon be taking their first round of “welcome to Cornell Engineering” prelims. The study ranks undergraduate degrees in terms of median starting and mid-career salaries: aerospace, chemical, computer, and electrical engineering degrees take the first four spots, while economics is the only liberal arts major in the top 10. Here’s a portion of the list from payscale.com. Picture 1

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