Preparing to study at LSE (London School of Economics)

By Pankhuri Tandon

Securing an admission at the London School of Economics and Political Science is a matter of both good performance and good timing. The application for MSc. Economics requires the following:

1.        GRE
2.        2 academic recommendations
3.        Marks
4.        Statement of Purpose
5.       Resume’

1.  GRE: The Msc. Economics programme of LSE requires its applicants to submit a GRE score. This GRE score should not be more than 5 years old. The MSc. Economics program at LSE gives more importance to your score in the Quantitative section of GRE than your score in its Verbal Section and Analytical Writing Section. LSE has explicitly mentioned that for securing admission into the one-year Msc. Economics program, the applicant should score above 160(out of 170) in the quantitative section. For the two-year MSc. Economics program, they require a score above 163 in the quantitative section. So make sure you manage to cross this ‘cut-off’ in the quant section of GRE.

 You should aim to give GRE before October. This is for 2 reasons:

a)      The quicker you give GRE, the faster you complete your LSE application. You should aim to finish your LSE application before the first week of January (I shall explain reasons for this later in this article). Note that you receive your official GRE score 15-30 days after the date you have given your exam.

b)      If you are not satisfied with your GRE score, you can give the exam again, but only 21 days after your current exam date. So make sure you keep that margin.

Also, it is important that you have your passport made before you give GRE, as the exam centre only accepts the passport as a valid ID proof.

2. Recommendations: You need to have two recommendations from the teachers who have taught you in college. You do not need to send the recommendation letters in your application; you just need to provide the name and email addresses of the teachers who will write recommendations for you, and LSE will contact them itself. Still, you need to ask the teachers for a reference as soon as you start with your LSE application, because they take time in writing them. Teachers have a lot of preoccupations already, and as the month of December begins, more and more students start with their application and come to ask them for recommendations. The only thing that delayed my application till mid-January was a recommendation that was not sent by my referee. Make sure you keep reminding them to write for you!

3. Marks: Marks in your undergraduate course is the most important criteria for selection at LSE. For MSc. Economics, LSE requires you to score at least 70% (aggregate till the final year) in your undergraduate course. Moreover, LSE gives a lot of importance to your score in maths, statistics and econometrics at your undergraduate level.

4. Statement of purpose (SoP): Although your marks and references are given the highest importance in you LSE application, statement of purpose is an essay (1000-1500 words long) through which the admissions committee analyse your thinking, and your suitability for pursuing the course. A SoP should clearly articulate why you want to pursue the course in that institute(why particularly in that institute?) , and why you have the right aptitude for the course. For this, not only do you need to describe the abilities you have that will help you in the course, but also show that your thoughts and views are consistent with what you are going to study in the course. Make sure your SoP doesn’t look like your CV in prose. It should explain how the things you did till now were with a purpose of helping you in what you are going to do now (the postgraduate course), and how the course you are going to do now will help you in your ultimate goal of the future.

Deadlines to be followed

Although there is no deadline for applying to MSc. Economics at LSE, the seats get filled quickly. Also, most scholarships require you to have an admission offer before you can apply to them. Typically, the deadline for the scholarships is in the period of February-April. So try to obtain the admission offer by January-February. Moreover, LSE usually takes 8 weeks to process your application, so it is best to send your complete application (including recommendations) by December.

Scholarships

The most well-known scholarships are Inlaks Scholarship and Commonwealth Scholarship. LSE also provides scholarships, under its Graduate Support Scheme. Moreover, this year LSE has announced 50 new scholarships for Indian students! :D  There are also organisations like J.N. Tata Endowment and Narotam Sekhsaria Foundation that offer loans at nil or low rates of interest. I advise that you should try to obtain funds from as many sources as possible rather than concentrating your energy on just one fully-funded-scholarship. There are many small scholarships that just escape our attention. Make sure you keep checking regularly in newspapers and online about any new scholarships.

Each scholarship application requires as much effort as one application for admission into a university. Most scholarship applications need a statement of purpose and recommendations (2-3). Note that you can get a recommendation from a teacher only a limited number of times (usually 4), so make sure you manage your ‘profile of recommendations’ from different teachers well. Many scholarships ask you to describe how you will arrange your funds for pursuing the course abroad. My sincere advice is: please describe it as honestly as possible. Trust me, being honest will increase your chances of getting that scholarship.

(Pankhuri Tandon graduated from St. Stephen's College in 2013 and is currently pursuing Economics at London School of Economics. If you have any queries regarding LSE applications, you can leave a comment below)

IGIDR (Test and Interview)

By Sakshi Gupta

IGIDR entrance has two stages, a computer based entrance examination and then an interview for the shortlisted candidates. The level of the examination is in colloquial terms, “manageable”. There are four sections in the paper-

1.  Comprehension, Reasoning and Analytical ability

2. Basic Mathematics

3. Economics

OR

4. Advanced Mathematics

(To pass the exam one has to pass all individual sections.)

Section 1 includes reading comprehensions, vocabulary, rearranging jumbled words, analytical reasoning etc. preparation for which can be done from any book containing these sections that one can get their hands on.

Section 2 has the 10^th-12^th level mathematics’ questions. Revising these concepts is essential because the questions are facile but at the same time convoluted if one doesn’t recall the concepts (LCM/HCF, integration, limits, polynomials, relative speed etc.)

Section 3 is a better option for economics’ students as the questions can easily be done if one is comfortable with the undergrad syllabus. There is nothing really to worry about the economics section, it has (mostly) direct questions from the syllabus. Those preparing for other examinations DSE, ISI, JNU etc. shouldn’t essentially need separate preparation for the IGIDR economics section. The same practice material should suffice. The sample questions can be obtained from http://www.igidr.ac.in/newspdf/msc-infhandout.pdf

However, it should be made sure that one is comfortable with the online pattern of the exam for which the sample is available on www.igidr.ac.in . It is important to go through it once before the exam so that one can concentrate on solving the questions rather than struggling with the computer during the examination.

Note: The pattern of the paper given above is for 2013 and is liable to change, so be sure to check the website for the pattern of the examination.

The second stage is the interview. Here again what one needs to be sure of is her/his basics of economics. A typical interview would last for 15-20 minutes. The first question asked in the interview is generally ones favorite subject in economics, and that then becomes the basis of the interview (so be very sure of what you want to say). However it is not essential that they stick to your chosen subject throughout but most of their questions come from there.

Some of the questions that were asked in the IGIDR interview were:

What is consistency? What is heteroscedasticity, how do you detect (tests), its consequences and correction methods? (Econometrics)

Explain the income and substitution effects (through a diagram on the board) when the price of one good out of the two given goods increases. (Microeconomics)

What do you understand by PPP (purchasing power parity), UIP (uncovered interest parity) and CIP (covered interest parity)? (Macroeconomics/International Economics)

Draw the graph of xǀxǀ (Mathematics) etc.

The interview is not going to be very tough so be calm and confident, even if one doesn’t know the answer to a question don’t panic because there are more questions to come. While answering, try to be precise and clear e.g. the answer to what is heteroscadasticity could be the problem of unequal error variances i.e V(u) is not a constant. Similarly for consequences, mention lost efficiency first (unbiased, linear are common consequences for all and thus they wait to hear lost efficiency).

This is not at all the hard and fast rule, everybody has their own way of dealing with interviews and it is fine as long as you are confident about it. Just remember to brush up your basics before you go for the interview and rest should be fine! :)

(Sakshi Gupta scored 85.2% in B.A. Economics (H), Batch of 2013, from St. Stephen's College. She is currently at DSE. She cleared DSE, ISI, JNU and IGIDR entrances. Post your queries as comments below.)

Tips for preparing for DSE entrance

By Orville Dustin Mondal (Rank 7 in DSE entrance)

The most important thing about preparing for the DSE entrance test is continuity. You need to be completely comfortable with the recommended course material (which, for DU students is basically second year stuff, under the older course)-emphasis on 'COMPLETE'. Because only when you're comfortable with it can you go on to the practicing bit of preparing. Trust me it's extremely annoying (not to mention disconcerting) when you're doing a question and you start thinking,"do I know what they're talking about here?". Once you're through going through the course content, which really doesn't take too long, you need to start questions (yeah, I know that's obvious) and this is where continuity comes in. You need to get your hands on as much practice material as you possibly can. This is especially important for those of us who have a burning, unquenchable desire to keep on at it with economics but just don't seem to have that natural knack for solving essentially simple but convoluted questions. And truthfully, DSE mainly throws out things that we do know how to do. Sure there's the odd instance where they decide to dig through a masters textbook on stats and fling us something we more or less have no chance of figuring out-but that is extremely rare, not to mention ultimately inconsequential (one question should not stand between you and the cut-off). 

Where does one get material from? Well the past papers are a great way to start. Trust me there'll be more than a few head scratchers. The papers get you into a certain way of thinking about the questions. Our university exams are pretty straightforward (not just DU, by the way) and DSE most definitely (usually) is not. You need to have a tiny idea of what to expect-the papers are an excellent primer. But beyond that, your options are limited unless you enroll in one of the (way too) many coaching classes spread around the city (or, alternatively, you could have an inside source that gets you the material). Classes aren't always helpful. Seriously, they aren't for everybody. Nor are they necessary for everybody. Blisspoint or Ecopoint (they're these two places that offer classes, in case you didn't know), all you need is material. You need questions. Get them. Get a lot. How you get it is of course more problematic. Just don't go around dropping small fortunes hoping for the ideal stash of exam info (case in point, Mr. A. G., while no doubt an extremely helpful and, perhaps, likable person, cannot guarantee success. Self help is very very important). Don't strategise and leave out this or that subject. The course DSE recommends for preps isn't magnificently vast and you can easily practice for all of it. 

Finally, you need a solid p2p network. Peer support is unbelievably helpful (believe me). I only had it for the last 9 days of prep and it was frustratingly fantastic to see how others could solve stuff I had been stuck on for weeks. The entrance is, to put it mildly, manageable. It doesn't take an insurmountable mountain of work to be confident enough to take it and do good in it (okay, maybe I'm being a little pretentious here). 

So, in the end, all you need is to know the core subject content, have lots of material to keep you busy for about 3 months of more or less sincere work, and a strong peer support network. 

Orville graduated from St. Stephen's College in 2013. He got Rank 7 in DSE entrance and is currently pursuing M.A. Economics at Delhi School of Economics.

Cracking GRE

By Shruti Lakhtakia

The Graduate Record Examination is required by most universities in the UK and the US as a part of the application material. A note for those who are pursuing finance based courses - the GMAT is sometimes allowed in place of the GRE, make sure you check the requirements of the particular course and university you are applying to.

Ideally, you should plan to study for an optimum six-eight weeks before taking your GRE. The test itself consists of three sections - Analytical Writing, Verbal and Quantitative. It is a good idea to begin by taking a diagnostic test (available in most books) that will give you an idea of where you stand. My recommendation would be to begin with a general book (Princeton Review, The GRE Official Guide by ETS, or Barrons), which clearly lay out the entire test - its structure, the kind of questions, and basic concepts used in each section. After doing one or more of these books, you could begin to go through questions in the Princeton Review book of 1000 Questions, which has several drills arranged topic-wise. Simultaneously, you should begin to work on specific sections that you are having difficulty with. Some people find the Verbal section difficult to deal with, others the Quantitative section. Depending on what your relative strength and weakness is, look for a book that is specifically directed at your problem area (published by Kaplan, or Barrons).

The more practice tests you do, the better it is. I believe that the GRE is more a test of how you manage your time and how well you work under pressure, than anything else. Start practice tests (I recommend online tests, but begin with the basics - use the tests given in the books first) when you have about three weeks to go for the exam. But then again, time it well so that you have sufficient time to practice - so if you have an important event or test in college, plan accordingly. Another important tip would be to remain consistent with all your sections, primarily Verbal and Quant. Even if you are super confident about being able to tackle one section, do not neglect it completely. Being in practice close to the exam is important.

Improving your vocabulary is an important part of the GRE process, so start early. The more you read, the better your vocab will get. If you don't have sufficient time, then look for an appropriate word list on the internet (I used the Barrons word list), and work through it systematically. Be sure you know the words that turn up frequently on the GRE - these are the words you see all the time on practice questions: you know you've seen them before, but can't remember what they mean.

Lastly, as I said before, time management is the key. Start early. Plan for the test keeping in mind all other engagements and activities that you will be undertaking simultaneously. The GRE is not tough. It is tricky in that you must be crystal clear with concepts, and you must manage your time wisely - both before, and during the test. Good luck!


Shruti Lakhtakia graduated from St. Stephen's College in 2013. She scored 334/340 in her GRE exam. She is currently pursuing Masters in Development Economics from Oxford. 

How to prepare for DSE entrance (Delhi School of Economics)

Dear all

Delhi School of Economics entrance will basically test your knowledge of Microeconomics, Macroeconomics, Statistics, Econometrics and Mathematics.

At the time of applying, you need to select between Option A and Option B. You make a choice based on your major during the under-graduation. Students of Economics Honours opt for A, whereas those of Mathematics Honours opt for B. (I do not know of students from other streams applying to DSE for a Masters in Economics, so if you’re that exception, and are reading this blog, please look at the past year papers and see which subject you’re more comfortable with- Economics or Mathematics, and make a choice accordingly).

For lack of much knowledge about Option B of the entrance examination, I’m going to stick to elaborating on Option A (Which is the one that I appeared for).

Past year Papers

Option A Paper 2009

Option A paper 2010

Option A Paper 2011

Option A Paper 2012

1.      PATTERN OF THE PAPER

The paper consists of 2 sections.

Section 1: 20 multiple choice questions

Marking scheme: +1 for the correct answer, -1/3 for a wrong answer, 0 for unattempted question

Section 2: 40 multiple choice questions

Marking scheme: +2 for the correct answer, -2/3 for a wrong answer, 0 for unattempted question

2.       ADDITIONAL RESOURCES

I have heard of the following two coaching institutes/tutors:

i)                    Amit Kumar Goyal

ii)                   Eco Point

Ps. I attended Amit Goyal classes. He charges Rs. 50,000 for around 25 classes. He covers microeconomics, mathematics and econometrics/statistics very well. However, he takes only one class for macroeconomics, which means you will have to prepare that subject pretty much on your own.

Why I chose his classes?

i)                    He’s organised. Every class is of 7 hours which are divided as follows: 10am-1pm he teaches, 1pm-2pm is lunch break, 2pm-5pm he gives us a test to solve (which is more like an assignment, ie. you’re allowed to form your own little group and think about the problems), discusses the test and also takes any doubts that you might have

ii)                   It’s conveniently located. Until last year, he used to take classes at YWCA (10 mins walk from Patel Chowk Metro Station)

3.       BOOKS YOU MAY USE

Microeconomics: Hal Varian (Intermediate Microeconomics), Hal Varian Workbook, Osborne (for game theory), Nicholson and Snyder (for production theory), Gregory Mankiw’s Principle of Economics (for microeconomics if you need to strengthen your basic concepts), Bernheim Whinston (reference text for comprehensive explanations of topics if needed)

Macroeconomics: Dornbusch and Fischer, O. Blanchard, Development Economics by Debraj Ray (for Solow and Harrod Domar growth models)

Or you can just pick up the reading prescribed by Delhi University for the 2^nd year students of the annual examination mode- this would be the best rather than trying to read from 3 different books.

Econometrics and Statistics: Gujarati’s Introductory Econometrics, Degroot and Schervish

Mathematics: Sydsaeter and Hammond

Photocopies of the required portions of the above mentioned readings used to be available at the DSE photocopy shop until the previous academic year. With the new piracy raid, I’m not sure if they will be available any longer. Contact your seniors for their readings, if you fail to get them at DSE, I suppose. Those going for jobs or MBA’s should surely be willing to part with theirs.

4.       TIPS FROM PERSONAL EXPERIENCE

i)                    Solve as many past year papers as possible (starting from the year 2004). In this year’s DSE entrance examination, atleast 10 questions were lifted straight off from the past year papers, word to word, figure to figure. I answered all of those within a minute, and save a whole lot of time for the harder questions. Additionally, past year papers are diagnostic tests of sorts. Based on the questions you’re unable to answer, you will get the exact idea about which areas you need to practice most.

ii)                   ‘General Equilibrium’ is given a lot of weightage in the examination. There are certainly going to be atleast 3 questions in section B from that topic, so make sure you practice it well (numerical as well as theory)

iii)                 Do not forget to take a pen, pencil, eraser, and CALCULATOR on the day of the examination. Take some energy drink (anything with glucose) for refreshment.

iv)                 Do not try to judge yourself before the examination. Remember, you’re as good as anyone else. Be confident, and make sure you go inside the examination hall motivated to think and apply your brain. You may have never solved the probability question that you see in the paper (although I can assure you that you would’ve seen a variant of it in the past years  :P), but that should not mean that you will not be able to crack it if you spend 2-3 minutes to think about it.

v)                  Do not make uncalculated guesses. Remember, you’re negatively marked for each wrong answer.

            If you have any queries, post below as a comment. You can also mail it to Vaishali Garga at vaishaligarga@gmail.com.

Regards,
Vaishali Garga

            Vaishali Garga is an economics graduate from St. Stephen's College (Batch of 2013). She got Rank 19 in DSE entrance this year. She also got admission offers from London School of Economics, Oxford and Brown Universisty. 

Preparing for ISI entrance (Indian Statistical Institute)

Dear friends
Getting an admission offer from Indian Statistical Institute for MSc in Quantitative Economics (MSQE) is not tough if you are consistent and work for it in a proper way. In this article I have tried to explain the pattern of the exam, books to be used for preparation and some general points to be kept in mind.

There is no need for taking coaching especially for ISI entrance. If you are taking coaching for DSE entrance, it'd help in the ISI exam too. The entrance test for ISI does not have complicated, twisted questions. It's simple and straightforward if you have covered the syllabus well. I hope this article helps.

If you have any queries, or anything to share about MSQE entrance exam, feel free to post it below as comments. I'd be happy to address them. For more information about ISI, visit the website here. Good wishes.

Warm Regards,
Gaurav Poddar

There are two stages for MSQE entrance (MSc Quantitative Economics) at ISI:
Stage 1: Written test
Stage 2: Interview

Stage 1: Written test
There are two papers in the written exam. Paper 1 covers Mathematics and is objective MCQ type questions. Paper 2 covers Microeconomics and Macroeconomics and is subjective.

Paper 1: Mathematics and Elementary Statistics
This section tests Class 11th and 12th level Maths focusing mainly on Algebra and Calculus. The best way to prepare for it is to pick up RD Sharma or RS Aggarwal and revise the concepts and all the formulae. Once done, practice questions from past year Sample Papers (Links given below). Another very useful source for practicing is a book "Test of Mathematics at the 10+2 Level: Indian Statistical Institute" For elementary Statistics, if you are a DU Economics graduate student, you need not prepare. Just brush up the concepts from any book like SC Gupta.

As I had done Science at 10+2 level and had also prepared for engineering entrances, I didn't find this section tough. But remember, this is the most important paper as, if you are unable to clear the cutoff in this Paper, your Paper 2 which is subjective won't be even marked. For those who are weak at Maths, you must put in a lot of effort.

Two points that I'd like to mention from my personal experience:

1. Whenever you are practicing any question, first solve it in the way you know, which may be using a long method. Then, before moving on to the next question, stop and think if there is a shorter way to solve it. Sometimes, in the exam when you are running short of time, using short methods is always handy and saves time for tougher questions.

2. Read the instructions carefully. Sometimes, there is negative marking and sometimes there is not. In our year, nothing was mentioned. People started asking the invigilators if there is negative marking. Different invigilators told different things. In this situation, I tried to solve 80% of the questions and for 2-3 questions which I wasn't very sure of but had some idea, I took a guess and the rest I left unanswered. Under such a circumstance, I feel one shouldn't mark choices randomly on the assumption that there is no negative marking when it is not clear.

Paper 2: Microeconomics and Macroeconomics
This section tests the knowledge of Micro and Macroeconomics. To put it clearly, you need to be thorough with Micro and Macro that is taught at the undergrad level in DU to B.A. Economics (H) students. And hence, the name of the books to be used will be familiar.

For Micro - (1) Hal. Varian (2) Rubenfield and Pindyck (3) Nicholson and Snyder
For Macro - (1) Dornbusch and Fischer (2) O. Blanchard (3) Development Economics by Debraj Ray (for Solow and Harrod Domar growth models) (4) Osborne (I'd recommend this for Cournot and Bertrand problems)

Practice questions from sample papers given below. That should be enough. If you are also practicing DSE past year papers, that would be great.

Two points that I'd like to mention again from my personal experience:
1. Read the instructions carefully. Usually there are 10 questions and you have to attempt as many as you can in the given very limited time. However, in our year, the instructions said clearly "Attempt any six questions" This makes life easier as you just need to pick 6 questions you know and attempt them nicely. There were students who did not read the instructions and tried attempting all the questions and couldn't give their best in the first six answers which would have been evaluated.

2. Manage your time well. This is the problem I faced. I was actually not aware of how much to write for each answer, how much should I explain. So, I spent a lot of time in the first 2-3 questions, writing the answers in the DU exam-way and had to hurry towards the end. So, manage your time. And it's NOT important to fill pages. The answer can be half a page and be correct if it makes sense.

Stage 2: Interview
Once you clear the written test, you will be called for an interview. It's a very simple process. I was given two questions, one of Maths and one of Economics and in 15 minutes I had to solve any one of them. After 15 minutes, I had to go in front of the interview panel and solve that sum on the board. That's it! If you are able to solve, you are selected. If you are unable to solve, you might not get selected. It's a do-or-a-die thing. There were absolutely no other questions. No questions on current affairs, no questions on why I want to do Masters, why ISI, etc. (I'll talk more about Interview experiences in another post)

Click on the links below to view the past year sample papers and syllabus.
Syllabus and Sample Paper 2012
Syllabus and Sample Paper 2011
Syllabus and Sample Paper 2010
Syllabus and Sample Paper 2009
Syllabus and Sample Paper 2008
Syllabus and Sample Paper 2006
Syllabus and Sample Paper 2005
Syllabus and Sample Paper 2004

Gaurav Poddar is an economics graduate from St. Stephen's College (Batch of 2013). He secured 85.2%. He also got placed at 'Bain and Company' and 'Deutsche Bank'. Currently, he is pursuing MSQE at the Indian Statistical Institute, Delhi.

My Essay for Rhodes

© Jalnidh Kaur

Dear applicant for the Rhodes Scholarship
Everybody is unique. You would know by now that a Rhodes essay is a highly personal one, and so essays are widely different across different individuals. The essay is nothing superficial, but a true reflection of one's real self - your dreams, aspirations and plans for the future. 

I have been receiving loads of requests to share my essay, I have already shared it with a few aspirants of the current year. Deep inside, I have been introspecting whether I have been promoting cronyism by this kind of selective sharing with people who are requesting me for the same. In the interest of equal opportunity and as a hardcore proponent of knowledge sharing, I am sharing it publicly. Please find the essay below. 

Writing the essay last year was a truly wondrous experience. I thought it involved long travails into my self and I became much clearer and maturer after having written it. Often the only person people don't know much about, is their own selves. And the essay asks you do just that hard chore - knowing yourself and expressing yourself. I hope you too will succeed in the task and will enjoy the journey.

Good wishes with your application.
Regards
Jalnidh Kaur

It has been a strange summer. While the temperature shot up like never before, I was juggling between two diametrically opposite worlds. One, a luxuriously conditioned and hi tech workspace where things moved fast and the surroundings were spic and span, the other was a mess - dust, heat, garbage and stink; streams of sweat would rush down my spine while the sun would scorch my face.

The first was that of a regional stock exchange where the AC chilled me to the bone while the second was the very visible underbelly of my city. The first was more an act of courtesy to a boss; the second was an act of personal choice.

Paradoxes abound in our little world. As an undergrad student, I have always been awed at the contradiction between a conditioned and an unconditioned weather, between the classy basketball court at my school and the rickety one at a government school, between public sector and private sector, between affluence and penury, between North Delhi and South Delhi.  Of course perfect equality and justice are just ideal goals and chimeras, even Rawls would acknowledge the impracticality of the same. What philosophers, economists and policy makers strive to achieve is a less unjust society, all policies are attempts to remove clear injustices to an extent possible. 

Fascinated by one of the attempts to eliminate injustices in the domain of health, I chose to independently study the RasthriyaSwasthyaBimaYojana – RSBY (National Health Insurance Scheme) in my summer this year. The scheme provides a handsome health insurance cover to the population below poverty line to deliver social security. I interviewed these beneficiaries to study how their lives changed.

While, philosophical parleys with peers at college always tend to bend to one side, either extreme libertarian or extreme socialist; I have learnt through this study how private sector, government and the poor can all come together in a symbiotic manner and create mutual benefits.  Research has been a delightful discovery and the search for truth has instilled a new knowledge hunger in me – to find out bits of truth from the ground and supplement the mathematical rigor of economics with empirical evidence. Most importantly, I have learnt how technology and efficient delivery can create a workable incentive matrix and create social change.

Five years ago, I chose to opt for economics out of sheer enthusiasm of exploring it. I wanted to study a discipline which could understand the social complex of interrelationships objectively and evaluate it quantitatively. Over time, I have discovered the depths of the discipline and the implements it equips its follower with. Economics principles are like a toolchest. Through analytical frameworks and models, I feel equipped with more gear at the end of every lecture. The freedom it bestows on its student is just so enthralling – one could study anything from markets in education to health to nuclear physics. This limitless horizon has allowed me to explore my minor fields in depth along with my major. My philosophical inclinations along with a brush with Boulding’s views on going beyond the rudimentary and strait-jacket assumptions of the discipline have motivated me to integrate my everyday ruminations with the principles of economics.

Another interest which has over time closely integrated with my discipline is ‘education’. New constructions are in full swing in my locality. In the vacations following my board exams I started teaching kids of the construction workers who would romp aimlessly in streets every day. The bench under a shady tree in the park became our classroom. They loved shouting the English alphabet aloud as if trumpeting their first baby step towards literacy in the neighborhood. I told them what an 'echo' is – when you shout aloud, your voice hits the houses nearby and it returns. They shouted louder to hear their voices echoed by the newly built posh houses around, content to discover the power of their own vocal cords.

Over time this little initiative which we christened as ‘Éclair’ (Enlightenment), has blossomed into a country wide street school chain functioning in three states including Delhi. My school and college batch mates pitched in this voluntary initiative as guest faculty. Till date, we have been able to get ten kids 'enrolled' in regular schools– it is an achievement that rejoices me much more than any of my personal educational accomplishments. I have discovered my pedagogic inclinations through this initiative.

As I look ahead at the expanding horizon that economics has thrown open for me, I see myself doing an M. Phil in Economics from Oxford. This would equip me with more tools in my toolbox and allow me to understand the world of inequalities and injustices better. I have had a vibrant exposure to financial markets and live trading in a stock exchange during my internship and I have seen the world of poignant injustices. Capital markets offer huge dividends and bonuses, of a scale and size that people down the poverty lane, below the poverty line cannot even dream of. I aim to use my learning from the study of social sector schemes in developing countries and that about capital markets to arrive at logical solutions. An M.Phil in Economics will provide me an academic base and better foundational framework within which these inequalities could be examined. I shall be in a better position to assess various developmental strategies and propose better solutions, most importantly. A dedicated focus on academic research at Oxford will help me explore the world further and allow me to go beyond limited model-specific assumptions of the discipline.

Five years ago my essay on International Peace won me laurels at the University of Hawai’i and East West Center, USA. The essay ended with a note of conviction – Make history by design and not by accident. Today as I mull over these lines, I am of a firm conviction that disparities in our world could be bridged with value-based interventions and firm foundations in social science research.