Thursday, February 09, 2006

Well, tomorrow happens to be the day when Gokhale realises, once and for all, that I'm not too hot at Macroeconomics -II. There are a variety of reasons for my depressing ineptitude, ranging from "Studying is boring"... (All Pandurangis, please bear up with this, the other 99.99% of my readers are in vehemenent agreement.) to "What the F&*k is New Keynesian Economics, anyway?" The more alert among my perusers, please note, we shall be dealing with NKE in some tedious detail below.
So anyways, given a choice between studying for a subject that resolutely beats all ostriches at burynig its head in the sand and typing away for a blog that thus far, no one has read, well, I mean, come on!
Big news for the month, we had the Convo party last weekend. As usual, there were people who wondered about why a party was necessary, why the contributions were so huge, about why the moon looked green if looked at from certain angles, and other equally relevant stuff. But again, as usual, there were those who refused to sway, to buckle down, to give in so easily. And they came through again, as Gokhaleites so often have. Fifty people turned up for the party and consumed 12 bottles of liquor. The party lives on...
But that, for the nonce, isn't so very important. What is a matter of pressing urgency is a question that has bothering me all day.
What on EARTH is New Keynesian Economics?
Any student of economics, serious or otherwise (and the Gokhale I know is filled with the latter), knows that there were the Classical economists. Then came the Keynesians, then the Neoclassicals, then the Rational Expectations guys, then the Real Business Cycle Theory, then the Neo Keynesians. So who, oh pray tell who, are the New Keynesian Economists? And where were they until Smriti Ma'am decided to foist them upon us? And for the love of a God who must have abandoned Economists a long time back, what is the difference between the NeO Keynesians, and the NeW Keynesians? Sigh.
Oh, big story. A thief entered the hostel a couple of days back. Well, whether or not he was a theif is another story, since he never got around to actually flicking anything. This was due, in no small measure, to Choti, our Hostel Secretary, catching him and generally pinning him down until half the hostel and all the faculty quarters were up and about. Half the hostel because the other half was too drunk to care - but then that's a given on any day. The only good thing to come out of the whole imbroglio - the thief, who's since been taken to the nearby police station - managed to leave behind an old beat up Sunny in the hostel. Now, if it is his, he might as well give up on it... it's been used in ways that Bajaj's engineers simply could not have foreseen. And if he's stolen it, the owner is welcome to come and take it back. Give us a couple of days notice though - and a toolbox while you're at it.

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Welcome to Gokhale. Life at the hostel, with the myriad mysteries of the Insti thrown in as a bonus.