Theme: The Toughest Socio-Economic Puzzle
What is expected form the students?
This successful growth achievement is shrouded by a disparity in wealth. The rich have become super rich and the poor have gone worse. The Balance of Trade (difference between export inflows and import outflows) is going from bad to worst and the monster of inflation is also raising its alarming head.
The recent Economic Times report about current account deficit widening to 13 billion dollars in January – March Quarter of 2010 is the biggest since 1981 October – December Quarter.
All the aforementioned negative factors will further the disparity between have and have-nots.
Mr. Radebough in his book has stated that a country whose negativeness of balance of trade in increasing coupled with inflation and unemployment / underemployment is like a company with falling revenues / shares and profits.
While economic growth can result into some inflation but if such growth is not going to result in economic development of the normal citizens then the purpose is questionable.
Thus “The Puzzle” lies in achieving positiveness of balance of trade and simultaneously taming inflation.
Participating teams are expected to conceptually address the puzzle and suggest socio-economic models to ensure economic development. Comparison with other countries which have tackled the puzzle successfully should be presented along with the recommended models. Checks and balances to avoid failures should also be suggested.
