The Research Centre and Department of Economics, Lady Doak College, organized a series of academic programs aimed at enhancing the knowledge and skills of both faculty members and postgraduate students in the field of Economics under the leadership of Dr. Beulah Jeyashree R., Principal & Secretary.
A faculty training on ‘Behavioural Economics’ was held for the faculty members of the Economics department. The program was coordinated with the support and guidance of Dr. M. Helen Mary Jacqueline, Associate Professor and Head of the Department of Economics. The resource person, Prof. Thiagu Ranganathan, Professor at the Centre for Development Studies, Kerala, emphasized the significance of Behavioural Economics compared to traditional economic theories. The training provided practical insights into decision-making under certainty, mental accounting, behavioural biases (decoy effect, menu dependence), utility theory (acquisition vs. transaction), loss aversion, game theory (Nash equilibrium), intertemporal choices, social preferences, and strategic interactions. The resource person employed interactive games to illustrate these concepts, particularly focusing on Nash equilibrium and social preferences. This programme was arranged by Dr. P. Devi Priya, Associate Professor, and Dr. K. Suganya, Assistant Professor of Economics. By exploring the intersection of psychology and economics, participants gained a deeper appreciation of the complexities of human choice and the limitations of traditional economic models. The training equipped faculty members with the tools to incorporate behavioural insights into their research and teaching, fostering a more nuanced and comprehensive understanding of economic phenomena.
In addition, a guest lecture on ‘Research in Agricultural Economics and Scope of Research Publications in Economics’ was organized for the postgraduate students of Economics. Dr. M. Helen Mary Jacqueline once again provided invaluable guidance and support in coordinating this academic event. The lecture, delivered by the renowned economist Dr. Thiagu Ranganathan, highlighted critical research topics in Agricultural Economics, particularly focusing on issues like land fragmentation, land leasing, sharecropping, rent agreements, labour dynamics, gender wage disparities, and the impact of mechanization in rural India. He also guided participants on accessing open-source data for agricultural research from various government and private websites. The session provided valuable insights on publishing research papers, including journal selection, structuring, and peer review processes. Participants gained a deeper understanding of Agricultural Economics, research methodologies, and effective strategies for publishing research papers, enhancing their research capabilities under the aegis of the Institution Innovation Council. This program was organized by Dr. T. Uma Maheswari and Mrs. P. Poongodi, Assistant Professors of Economics.
The successful organization of these programs reflects the commitment of Lady Doak College to academic excellence and innovation in the field of Economics, equipping faculty and students alike with essential knowledge and practical skills to advance their research and teaching endeavours.