Thursday, July 31, 2008

The first paragraph on Macroeconomics by Gregory Mankiw starts:
When you finish school and start looking for a full-time job, your experience will, to a large extent, be shaped by prevailing economic conditions. In some years, firms throughout the economy are expanding their production of goods and services, employment is rising, and jobs are easy to find. In other years, firms are cutting back production, employment is declining, and finding a good job takes a long time. Not surprisingly, any college graduate would rather enter the labor force in a year of economic expansion than in a year of economic contraction.
With RBI reining growth estimates -- so much so for the placement season this year!!

Anyway, in another interesting read the authors predict that the reason China, India, Indonesia and Bangladesh (inspite of having 43% of global population) won only 6% of the Sydney Olympic Medals has a strong corelation to the fact that the these 4 countries contribute 5% of the Global GDP.
Times have changed: India alone contributes about 2.15% of Global GDP (World Bank 2007 est.), will we win the ~18 medals expected of us?!

3 comments:

Sangram said...

nice lines ... though we all know it, good to read it from an authorised source! how exactly do you interpret this for the upcoming placements?

about ~18 medals ... hoping for the best. how many total medals are awarded in the olympics btw - around 900?

Shantanu said...

Well - things won't certainly be gung-ho but Sidd said getting placed shouldn't be a problem.

Wikipedia states 302 Golds - so atleast 906 total medals at Beijing.

Shantanu said...

We won 3 in the end :-)! Am happy.