REPORT OF THE WEBINAR CONDUCTED BY THE DEPT OF ECONOMICS, DON BOSCO COLLEGE, TURA ON 12.9.2020.
The Department of Economics, Don Bosco College, Tura organized a webinar on the theme “Importance of Political Economy in Economics” on 12th September 2020. The session began with the welcome address by the Principal Fr. Bivan R. Mukhim who pointed out that economics and politics are inseparable and this relationship assumes relevance during the present pandemic. The H.O.D of the Economics department, Prof. Siddhartha Roy while introducing the topic highlighted that Political economy has remained relevant since the 19th century as it examines the role of both politics and economics and how each shapes the other, thereby influencing political, economic and social systems.
The resource person was Dr. Pallavi Roy, lecturer in International Economics at the Centre for International Studies and Diplomacy at SOAS, university of London. She elaborated that though mainstream economists do not agree that politics and economics are dependent on each other and believed in market driven economics, still in the last ten years or so we find that the political changes in different parts of the west like U.S.A, U.K and E.U are definitely having a strong influence on economic policies and growth. She also highlighted the contribution of Karl Marx, a prominent political economist, in explaining the rise of capitalism in England and the how economics influenced hierarchies and power structures.
At the end of the session the resource person answered some questions from the participants. The webinar concluded with the vote of thanks proposed by Mr Bravewell Mawthoh. It was an enriching and informative session.