Recent News | Department of Economics

Dr Ghanshyam Pandey, an Assistant Professor at the Department of Economics, has been invited to deliver a talk on Risk Management and Sustainability on January 25, 2024, at the Department of Economics and Finance, BITS Pilani K K Birla Goa Campus.

Dr Pandey is a distinguished member of SRM University-AP’s teaching faculty and an accomplished economist with numerous publications to his credit. He has led several prestigious government-sponsored projects and is the Principal Investigator for the NABARD-sponsored project titled, “Tenancy and Credit: Exploring Facts below the Crust in AP”.

The rate of inflation has been termed to be directly proportionate to economic activity, with the increase in economic activity leading to higher levels of inflation. Central Banks have used this relationship to formulate interest rates and understand the inflation–unemployment dynamics in many countries. Dr Adviti Devaguptapu, Assistant Professor from the Department of Economics, has published an interesting study in her paper titled “Phillips Curve in Canada: A Tale of Import Tariff and Global Value Chain”, where she examines the relationship between inflation-economic activity in Canada to better understand the correlation between inflation and unemployment rates.

Abstract

The paper examines the Phillips curve for Canada from June 1976 to October 2022 in a time-varying manner. The findings reveal that the impulse response of inflation to the changes in the unemployment rate gap has reduced over time till 2010 and strengthened thereafter. The response of inflation to the changes in the unemployment rate gap has increased in short and medium horizons after 2010. On further examination, it is found that the changes in both average import tariff and forward participation in the global value chain have reduced the inflation response to the changes in the unemployment rate gap.

Social Implications of the Research

Inflation-targeting central banks should have to put more (less) effort into achieving price stability in the medium run when the change in the level of inflation to the changes in the unemployment rate gap is more (less).

Dr Adviti’s research works towards developing quality-adjusted inflation in India – the need for it and the challenges in recording it.

Link to the article

SRM University-AP takes pride in the achievements of its students and faculty. Dr Ghanshyam Pandey, Assistant Professor, Department of Economics and Dr Deep Raj, Assistant Professor, Department of Environmental Science and Engineering were sanctioned a project by the Indian Council of Social Science Research, New Delhi (ICSSR). The research project titled, “PM Krishi Sinchai Yojana- A Step Ahead to Achieve Sustainable Development Goal: A Study of Select Areas of AP, Tamil Nadu and Maharashtra” was sanctioned a total outlay of 16.5 Lakhs for a period of 6 months.

Abstract

Agriculture in India is dominated by smallholders. Yet only about 55% of India’s agricultural land is irrigated. The frequent occurrence of extreme climate events such as drought and heat are some of the main reasons for low agricultural productivity, food insecurity, and persistent poverty in developing nations. In this respect, irrigation plays a significant role in addressing climate change. However, irrigation costs are also very high for small-scale farmers because of their low incomes. Therefore, they do not have the resources to irrigate 100% of their land. In this context, PMKSY is a step towards resolving this problem in India and was introduced by the NDA government in 2015 by Har Khet Ko Pani. Therefore, the present study will examine the coverage, impact, adaptation and constraints of PMKSY in the Indian states of Andhra Pradesh, Tamil Nadu and Maharashtra.

Congratulations on this remarkable achievement!

Getting into one of the global universities of great repute is an impactful motivation for every aspiring student to accomplish even greater things. It opens the gateway to a promising career they have been passionately dreaming of. Two exceptional students from the Department of Economics have been offered admission to highly esteemed international higher education institutions. Gayatri and Sruti, the final year Economics students of SRM University-AP, have been accepted into the Erasmus University Rotterdam, Netherlands, and the Russell Group Universities.

Ms Gayatri Jonnala was ecstatic while reading the offer letter to study MSc at a leading global university. She has been accepted into the Erasmus School of Economics at Erasmus University Rotterdam, Netherlands, an institution among the QS top 50 universities.

‘‘The curriculum at SRM University-AP is very similar to the requirements of a Master’s in Economics abroad. Taking part in co-curricular and extracurricular activities helps build a holistic statement of purpose. The reading material in the library for the English proficiency tests was adequate for good preparation’’, said Gayathri while elaborating on her learning experiences at the campus.

Ms Sruti Poolla was shocked and delighted to receive her offer letters from the world-renowned Russell Group Universities. She chose the University of Birmingham from the list of universities she has gotten accepted into. The Russell Group universities are known to be research intensive and very hard to get into because of their competitiveness. It is among the world’s top 100 universities, according to QS Ranking.

‘‘There was not much preparation I did. I had to write an English proficiency exam for which I prepared. The other aspects for admission were a statement of purpose, a letter of reference from my professors and my college transcripts. I can say that I have had good grades since my first semester, and my professors encouraged and trusted me enough to say good things in my LOR. The experience I’ve gained in my three years at SRM University-AP formed a good SOP for me to get accepted,” said Sruti while asked about her preparation strategy.

Sruti and Gayatri shared how the faculty of SRM University-AP have been very enthusiastic to know about their future plans and constantly encouraged all students to choose the right career option. The varsity’s curriculum has improved the students’ knowledge in various subjects, which will only be an advantage for them while pursuing further education. Sruti extended her gratitude to the Dean-Liberal Arts and Social Sciences and all the faculty at the Department of Economics.

‘‘My dissertation supervisor, Dr Manzoor Hassan Malik and Prof. Bandi Kamaiah, provided continuous guidance and support to receive the offer letter from a prestigious university, for which I’m very thankful,’’ added Gayatri.

Both look forward to a bright future after completing their master’s at reputed global universities.

Dr Ghanshyam Kumar Pandey, Assistant Professor, Department of Economics has published a paper titled “Market Integration of Chickpea Crop: An Evidence of India”, in the esteemed Q1 Journal, Journal of Agribusiness in Developing and Emerging Economies having an impact factor of 3.50. Through this paper, Dr Pandey analyses the integration and direction of causality of prices of chickpea produce in the markets of India.

Abstract

Purpose – The purpose of this paper is to examine the market integration and direction of causality of wholesale and retail prices for chickpea legumes in major chickpea markets in India.

Design/methodology/approach – In this paper, the authors have employed the Johansen co-integration test, Granger causality test, vector autoregression (VAR), and vector error correction model (VECM) to examine the integration of markets. The authors use monthly wholesale and retail price data of the chickpea crop from select markets in India spanning January 2003–December 2020.

Findings – The results of this study strongly confirm the co-integration and interdependency of the selected chickpea markets in India. However, the speed of adjustment of prices in the wholesale market is weakest in Bikaner, followed by Daryapur and Narsinghpur; it is relatively moderate in Gulbarga. In contrast, the speed of adjustment is negative for Bhopal and Delhi, weak for Nasik, and moderate for retail market prices in Bangalore. The results of the causality test show that the Narsinghpur, Daryapur, and Gulbarga markets are the most influential, with bidirectional relations in the case of wholesale market prices. Meanwhile, the Bangalore market is the most connected and effective retail market among the selected retail markets. It has bidirectional price transmission with two other markets, i.e., Bhopal and Nasik.

Research limitations/implications – This paper calls for forthcoming studies to investigate the impact of external and internal factors, such as market infrastructure; government policy regarding self-reliant production; product physical characteristics; and rate of utilisation indicating market integration. They should also focus on strengthening information technology for the regular flow of market information to help farmers increase their incomes. Very few studies have explored market efficiency and direction of causality using both linear and nonlinear techniques for wholesale and retail prices of chickpeas in India.