Passing Through the Dark Economic Days?

One year ago, I wrote a post titled "eventful" July 2013. I chose to call it a "memorable month". With new set of politicians in power that promised "service with humility" and "power to the people", I had reason to harbor lots of positive expectations. Their alluring 100 day manifesto, I thought was the promise of the century. The much needed "change" it seemed was in the offing. Especially to an impoverished service man like me, they showed the pay revision candy and I acted like a child. In brief, I was actually dying to see the July 2014.

Now here I am, nearing to end my most awaited July 2014. The flames of much talked about pay revision has subsided. Back then National Council members fought against the pay hike. The reasons are still hard to understand, but it could be either of them; 1. the marginal hike accorded for them or 2. Their real Buddha nature. Love for the Nation? Well. I doubt! And interestingly and paradoxically, back in Korea I was skipping my meals to adjust my budget. What an irony of life!

Anyways, as per maths done by some of my colleagues, I was told that I would be getting an additional sum of Nu. +4000 monthly. Had it not been for the double digit market inflation, I think its a lot of money. Home Minister has started replacing the Finance Minster. It seems Finance Minister have no words left to utter. Recently Trade Minister has shown his deepest possible concern. He was sighted in the town doing a day long market research. His conclusions are astounding "There is no inflation in the market" was his finding. Somewhere, his results must have left academicians scratching their skull in awe.

"There is no inflation in the market". Hence our Politicians thinks taxing people is most suitable option. I am amazed. Green tax for the gas, service tax for telecom facilities, more tax for car import,  more TDS, more PF, more HC and more GIS and on goes the list. I may be wrong but I am little confused with the glorious economic policies we have before us. Indications are so vivid that, child Politicians are fiddling with fiscal policy like a toy.

Saving will continue to be a myth. 

Hand to mouth, we shall all survive. 

Pitiable we were and broke we will be. 

Owning a car, our distant dream,

A fairy tale, it shall remain.

oh! Miserable Economic dark days

Find thy own silver linings friends

Drive not they car to office

Use not they phone for official cause

My Secret of Scoring 80+

Few days ago, I got my results for 4th semester. With that result, I can finally say that I am through with my masters course. For good. I felt elated and excited. I felt more happy at the fact that I was able to perform well beyond my expectations.  Firstly, I topped Arts category of Gujarat University for 4th

My Final Results

My 4th sem result are out and I  am happy to share with my friends that I have scored 86.17% (517/600) With this I have now sealed my Masters in Economics with an aggregate of 81.16%. (1948/2400) I am writing  this as a matter of my own record and history. 

Some Pictures With My Professors

With Dr. Snajay Pardeshi who taught me Public Finance, Quantitative Methods in Economics, Growth and Development, Agriculture Economics, Research Methodology, Managerial Economics and Financial Institutes and Markets

With Madam Tarang Solanki, who taught me Micro Economics, Environmental Economics, Growth and Development, Labour Econimics, Industrial Economics and Agriculture Economics

With Dr. Hina Sidhu who taught me International Economics, Environmental Economics, Micro Economics, Industrial Economics, Research Methodology, Quantitative Methods in Economics and Financial Institutes and Markets

Tomorrow (or someday before I leave Gujarat) I also intend to meet my professors who taught me Macro Economics and  Mathematical Economics.

Packing and Repacking

Ever since the day I finished my exams, I had two things on my mind. -Pack up and then going home! Its just my second year here, but it has made me feel like I have been here for ages already. I feel I am going home after a decade in exile.

So, in last two days I went to meet my professors. I met most of them. I thanked them personally for all the help and support they gave me in course of two years. In fact I wrote them a letter of gratitude! I told them how fortunate I felt being taught by them. I also told each one of them how I will miss them everyday.

I haven't met my class friends yet, but I wanted to meet them too. I wanted to thank them all for being so nice to me. Initially when my room did not have fan and a running water, some of them told me that if I can survive in India, I can survive any where on this planet. So on a lighter note, before I depart, I wanted to tell them how I survived.

But on a serious note, life wasn't that bad. Thanks to the Gujarat University administration. Me and my friends were accorded the best of the best facilities in the campus. We were given the best flat for the cheapest possible rent. Compared to our seniors, we were given the additional facilities like freezer, oven, toaster, larger table and more comfortable chairs. Thank you Gujarat University. I hope you get some more scholars from Bhutan in coming years.

For now its all about packing and repacking in my room. Except my old cloths and few books, I have nothing much to pack. I wanted to make sure that my luggage do not exceed 20 kg. So I pack and repack. Again and again. But to my surprise, my old cloths have started weighing heavy like a metal. If any thing old were to be gold, surely my old cloths testified this statement in terms of their weight! And I am afraid that I might have to part with some of my gold-like cloths here.

Writing Thank you Notes

Dear Respected Professor(s),

Before I bid farewell to this beautiful University and college, I want to express my genuine gratitude for all the hard work you all have put in during the academic year 2011-2013 as my professors. You all have made my stay here a worthwhile and wonderful one. At this hour, I have not many words that can fittingly thank you all.

The way you all took lectures without a rest in between showed how difficult it was in teaching. I saw the exhausted faces and tired bodies of you all every day. Messed up with chalk powder, I have often heard your voices go dry. Not only that, I saw how your throat choked after a daylong lecture. I felt deeply sorry about burden you all were under. But you all had common strength called the determination. Determination to educate microcode students like me! I felt all the more inspired by the way you all handled the classes every day. It inspired me to attend every lecture, everyday. You all inspired me to work harder each second.

I am not an intelligent man. But groomed by you all, I feel I have progressed well academically too. I feel hard work from my side and hard work from you all complemented each other. Looking at the results I have achieved so far, (76.67% in first sem, 80.3% in second sem and 81.5% in third sem) it shows how hard works never go in vain. With blessings from you all, I expect the same result in fourth sem too. I don't know whether I have become a full-fledged butterfly or not but certainly I am going home much more progressed and refined than a caterpillar.

Personally, I am a very sensitive person. I am emotional like any other beings. At the same time I have also flaws like any other beings too. Therefore in course of our interaction, if I have hurt your sentiments and feelings, I would like to seek forgiveness from all of you. Those things were never intended. 

Once again I would like to extend warm thanks to all of you from the bottom of my heart. I wish you all the best of everything in your future endeavors. I will cherish you all in my life as my Gurus. May god bless you all with good health and abundant happiness in life.

Thank you

With Lots of Respect and Regards

(Kuenzang Thinley)

M.A Economics

Finally My Hard Days are Nearing End

I am soon going to write another set of exams here. Believe it or not, I am going to write ten exams, submit five assignments and do five presentations in two months time. And let me also tell you that I have to submit a research project (of at least one hundred pages). In a mean time, I am going flat with mathematics. I am getting lost in the end less net of curves and figures.

I am going blank. At one point of time, I even could not get the law of demand right. For a person who is mastering in Economics that is pathetic and miserable. And just like me, there are my friends who are also mastering Economics, but are  not able to get the elasticity of demand right. The only consolation I have for myself is that, in learning complicated things, sometimes its (BIG NOT) OK to forget basics. Deep down I feel bitter. I feel embarrassed to the core. The guilt of missing  petty things such as these haunts me like devil with horn and fang. Such moments really make me think that whether what I have in my skull is a human brain or a piece of dung.

With this, I am now starting to believe that Economics indeed is not a subject that can not be crammed overnight. It demands lot of hard work, dedication, diligence and discipline. Some people call it 3Ds for success. My professors keep telling that Economics is  a study of rational beings. Therefore they also keep telling me that it demands lot of common sense. I think they are right. I don't know who ran this regression but there is a general belief that common sense is something which common people lack all over. For today let me not write about my common sense story here. But just know that I am just another common man.

The bottom line here is that, I will be back home soon. I will be among my loved ones, my family, and my parents. I will be home with my masters degree in Economics. It gives me an immense sense of satisfaction for having undertaken (one of) the toughest course on this earth. Finally my hard days are nearing end. Once home, I will not have to cook when I am sick. I will not go broke (hopefully)

For now, I am preparing for my final show down. My internal exams starts on 18th March 2013. My annual exam is scheduled to start on 22nd April 2013. So wish me good luck.

It's Result Time

G u j a r a t   U n i v e r s i t y

                                                

Exam.:Sem. 2 of                         Master of Arts    held in May-2012     

Seat No. :   1519    Name: THINLEY KUENZANG                                    

College: (020) USS         Centre: 01  Combination:           - 1-1600011      

                                              External           Internal      

                Subjects                   Max Min  Obt       Max Min  Obt     

----------------------------------------  -----------------  ----------------- 

Economics-407 Micro Economics-II            70  25   46        30  11   27     

Economics-408 Macro Economics-II            70  25   55        30  11   24     

Economics-409 Environmental Economics-II    70  25   61        30  11   24     

Economics-410 Managerial Economics-I        70  25   51        30  11   26     

Economics-411EA Q.M.E.-I                    70  25   59        30  11   27     

Economics-412EA Industrial Economics-I      70  25   55        30  11   27     

                                           420  --  327       180  --  155     

----------------------------------------  -----------------  ----------------- 

Enrol.No.: 201101900349                   Total: 482 /  600  Result:PASS       

                                          Result Date: 22-AUG-2012            

My results for second semester is out and honestly I am wordless. I am wordless for the fact that I have touched 80% for the first time in my academic life. Right now I am feeling on top of my world. An immense sense of satisfaction is making me dumb and deaf. I have worked hard like never before and I have achieved like never before! 

With this I would like to thank all my Professors who worked very unselfishly and untiringly. Without their dedicated guidance and support I would not have achieved this landmark result. I would also like to thank my senior friends Hema and Sonam for their help. 

Self with Previous Topper Hema.

Last but not the least, I would to extend my gratitude to my parents and my family for bearing my long absence. I dedicate this result to all of you. I thank Kunchok Sum, my principle guardian, Meme Ragula and all my other protective deities of Shingkhar. 

I Gave the Best and Left the Rest...

                                                       G u j a r a t   U n i v e r s i t y                      

Exam.:Sem. 1 of  4                       Master of Arts    held in December-2011

Seat No. :   1709                       Name: THINLEY KUENZANG                    

----------------------------------------  -----------------  ----------------- 

                                           External           Internal     

College: (020) USS         Centre: 01  Combination:           - 1-1600000      

Subjects                                    Max Min  Obt       Max Min  Obt   

Economics-402 Macro Economics-I             70  25   50        30  11   23     

Economics-401 Micro Economics-I             70  25   53        30  11   27     

Economics-403 Public Economics-I            70  25   44        30  11   25     

Economics-404 International Economics-I     70  25   56        30  11   22     

Economics-405 Growth and Development-I      70  25   51        30  11   25      

Economics-406 Environmental Economics-I     70  25   59        30  11   25     

---------------------------------------  -----------------  ----------------- 

                                           420  --  313       180  --  147     

Enrol.No.: 201101900349                   Total: 460 /  600  Result:PASS       

Result Date: 02-APR-2012             

Although I will be sitting for my second sem internal exams very shortly, with little over 76.66 aggregate marks in my first semester exams, it appears to me that I am officially through to my second semester.

Having worked so hard, I expected good harvest in terms of marks. But more than the marks, what surprised me was that I topped my class. Not only that, I happened to be among the top 50 candidates in the overall University ranking  for Masters of Arts category. (I stood 19th) 

Apart from my hard work, I feel this is my reward for all the sacrifices I have made. I had a horrible life staying away from my family. It was utterly difficult leaving behind my daughters. I missed them terribly. Of course, I missed my dearest wife along with them. 

It was even more harder thing, leaving behind my sick and ever ailing dad. Since, he never wanted me away from him, it was my dad whom I miserably missed.

Today, I dedicate my little success to everyone I missed (back home). This is for you all from me, with lots of love and affection. 

With this, I would like to thank my professors who took extra care in getting things across to me and my friends for all their valuable support and encouragements. I would like to Thank my senior  friend Sonam for all the supports he  rendered wholeheartedly to me.With his support and presence around, my late admission to the course wasn't a hindrance. I was fairly able to catch up with my friends. 

Lastly, I thank my protective Yeedham, Meme Ragula for all his blessings. Meme Ragula Khenoo

I Have Become Busy like Bee

Revisiting the  flower of Economics,

I feel I have become a bee myself.

A gap of 7 long long years,

Have truly done a justice in erasing 

The curves, graphs, diagrams and definitions

From my memory.

So for now, 

I have little time for 'free and random thoughts' 

Little time to even describe my flower here.

Just in case,

you find nothing in my pot (my blog),

Then,

 Just think that bee is away,

But will be back with honey;
A sweet honey.

Shingkhar Village in the Heart of Discussion.

Who owns Shingkhar?

Thanks to the idea of golf course and constriction of a road.  Shingkhar village, -yes, that's right, my birth place in recent times, have increasingly become a news piece for not only Shingkhaprpas but it has also become a topic of discussion for many Policy Makers, Environmentalist, Financial analysts and Economists. 

To be honest, there is nothing tricky about this business. It is simply a conflict of preferences among different parties; -community on one side and road and golf course idea on the other side. But it will be wrong to presume that it is a tug of war between community and  ideas alone, because these ideas  have now drawn lot of attentions from other parties who apparently think, that they also have equal stakes in the business. 

The fact of the matter is, Shingkhar is seeing some light of Investment  (be it a foreign or national) coming via Tonglai ya after so many years. Shingkhar's investment requirement is not tricky one either. History of Shingkhar has many dis-equalibriums. Lack of investment is certainly one thing. Therefore when community sees  one wagging in, they cannot help but go frenzy. For them its like "water in desert".

But the question is, is that a real kind of investment that the community and nation is in need of? What kind of  economies and dis-economies will it warrant to locality and nation? What return is it going to give us, both in short term and long term? Is that a divergent investment or is that a convergent Investment?  How are community values being judged? Does the welfare gain of one party really offset the welfare lost of the community and other stake holders?  

Before we can either say 'YES' or 'NO' to the proposals, we may need to answer many more questions than those mentioned above.  The problem at hand is a real economic, which few intelligent people in isolated room cannot solve. It needs a deliberation and diligent interaction among stakeholders. Proper property rights assignments are key to solving such issues. Who own Shingkhar? Investors or Shingkharpas?

One Reason Why Bhutan’s Private Sector is doing poor

Private sector development in Bhutan is as old as the private sector concept itself. As a nation, we were among last nations in the world to recognize private sector development as the main engine of the economic growth. It was indeed an economic solution that a land locked country like ours needed the most for bettering our economy by making it grow and expand.

But not many people understood the real meaning of private sector development. Due to this single skewed reason, the normative Policy tools like subsidy, grants, permits, and tax holidays could do too little in too long time to bring major changes in the face of economic growth.

To be practical, we are a nation with not only with scarce resource endowments but we are equally a nation with equal dismal consumer numbers. The only natural resource we can be proud of is our water resources, which are threatened by exogenous factors like climate change, continuous deforestation and ecological imbalances elsewhere.

In absence of strong and vibrant private sector, our export figures are always over shadowed by our towering import figures. It means the multiplier/accelerator affects are always negative. In absence of positive multiplier/accelerator effects, it created low feasibility investment atmosphere.  The low level of investment in an economy meant that our income levels are low, which led to low level of saving. The low level of saving meant that people are paying high rate of interest (meaning Investment is becoming a costly affair). Now if we carefully analyze this circular flow of events in our economy, then we are making our economy worse by ourselves.

So where does the solution lie? How do we make our private sector do better?

The significant answer lie in the way we distribute our precious human resources. As rightly pointed out by our beloved King during his coronation speech in 2008, he said; “Bhutanese people are nation’s greatest asset”. I second His majesty’s thoughtful statement. By making this single landmark statement, His Majesty meant volumes.

To understand the context correctly, let us first get the basics right. I am positive that majority will join me when I say that our education system is still a job oriented one. To be more precise, a public job oriented. These patterns of employment created a very prejudiced system because majority of the talented, knowledgeable, creative, smart and skilled manpower are absorbed either in Politics or in public sector. With apparently inferior residual manpower, private sector could do little to compete with public sector for growth, development and expansion in terms of managerial innovation and available resources.

To put it in other words, our economy is always in Pareto-optimum favoring public sector. It may be hard for some people to digest this, but there is a general economic belief that in reality, smart people always does smart job. Therefore, the public sector with given quality of human resources has always believed to have been the major difference maker in the growth of Public sector and private sector. The other normative economic tools made by public sector and politicians in the form of taxation policies and rules also affected the growth of private sector.

With this reality, there is an opportunity for us to make a tradeoff between strong or even stronger public sector or a strong and dynamic private sector. Or how about we also give due consideration to both by applying a Pareto criterion. 

Finally, I Have Fan in My Room. But What do I Call it?

A fan that made me think deep.
Fan, a luxury good ?
or
Fan, a necessity good?

I finally got fan in my room. Being an Economics Student, I don't know as to which class of commodity it will fall under. Because as per my economic knowledge, a fan in hot and humid place can rightly be classified as necessity goods. I think its also income and price inelastic commodity. This means a fan in hot and humid place is also equivalent to commodities like salt, rice and cooking oil in our homes. 

For now, I am making it function round the clock because, it feels too good under a functioning fan when the temperature outside is already souring to their dizzy heights. If water boils at 100 degree Celsius, then I survived the heat that is near it's half.


Courtesy to being human, I think I have adjusted well. I survived  more than a month with no fan. Once again, thanks to my friend, Kruti and her Mom, I am blessed with a small table fan. But with two free riders in my room, a table fan at times was no fan for us, because it did little to cool three of us.


Whatever, its a fan in a room, in a place called Gujarat. You can have your own classification and definition  of luxury goods and necessity goods.

My Borrowed table fan.

Identify Four Greatest Economist of All Time.

Who is Who?