Independent Economic Society (IES)

IES hosts the Annual Independent Economic Assembly 2011 (AiEA 2011)

iubies — Fri, 30 Dec 2011 16:12:23 +0000

Cooperation is a widely acknowledged tool for progression. The Independent Economic Society (IES) hosted a day-long event, titled Annual Independent Economic Assembly 2011 (AiEA 2011). It took place on Thursday, 24th November 2011 at the Independent University, Bangladesh (IUB) campus and was divided into two phases. The first phase consisted of an inter-university competition and the second phase was a seminar by a distinguished guest speaker, Professor Khondoker Bazlul Hoque, Chairman of Agrani Bank Limited.
Students from the Department of Economics of American International University Bangladesh (AIUB), BRAC University, Independent University, Bangladesh (IUB), North South University (NSU) and United International University (UIU) participated in the inter-university competition. Participants were divided into teams of three, with six teams from BRAC, IUB and UIU and two teams from AIUB and NSU. Faculty members from AIUB and BRAC University were also present. The AiEA 2011 started off with a warm welcome speech by Nihad Chowdhury Rimla, President of IES.
Head of the Department of Economics, Professor A. K. Monow-war Uddin Ahmad appreciated the initiative of the students to organise this event. Director of the School of Business, Professor Nadim Jahangir declared the competition open with the hope that by sharing facilities and knowledge, students will be able to progress further.
Phase one of the competition began with the first session which was a fun interactive game called, ‘Barter your way out’. The teams were given certain amount of commodities which they had to trade among themselves and gather the commodities itemized on their individual lists involving minimum transactions. Teams could also trade with an external agency and were given thirty minutes to complete their task. The second session was a quiz competition. The teams were asked multiple choice questions on basic principles of Economics.
The final session was a group discussion on a hypothetical scenario of the economy of Bangladesh with few statistical data. They were asked to design policies which the Bangladesh Bank and the Government could implement to improve the overall macroeconomic situation. Each team then submitted a written response and also presented their recommendations to a panel of judges comprising of faculty members from IUB. A question-answer session at the end of each team’s presentation gave the other contestants an opportunity to participate in the discussion.
Phase two began with Professor Ahmad’s introduction of the guest speaker, Professor Khondoker Bazlul Hoque. Professor Hoque spoke on the ‘Role of Banks in Industrialisation’. He mentioned that Bangladesh does not have much experience in industrialisation. Stating the determinants of industrialisation, he moved on to lay emphasis in the critical importance of quality of foreign direct investment (FDI) for the economy of Bangladesh. He discouraged relocation of industries that take advantage of lax environmental policies and also highlighted the necessity of reducing classified loans.
Vice Chancellor (in charge) of IUB, Professor Omar Rahman handed out crests to the guest speaker and winners at the end of the seminar. He expressed his satisfaction with the impressive performance of the participants of the assembly.

Article by Nuzhat Sharmeen

Notice

iubies — Thu, 30 Dec 2010 15:23:51 +0000

We are deeply shocked at the sad demise of our beloved and respected Vice Chancellor, Professor Bazlul Mobin Chowdhury. (Innalillahi-oa-innailaihi rajiun)

Tommorow (31^st December) his Namaj-e-Janaja (Funeral prayer) will be held at IUB Bashundhara Campus Premises at 10.00 am.

Seminar “Economic Analysis and Policy”

iubies — Tue, 30 Nov 2010 17:12:52 +0000

Dr. Mohammad Ali Taslim

Independent Economics Society (IES), a voluntary student club under Department of Economics, School of Business organized a seminar titled as “Economic Analysis & Policy” on 4^th November 2010 at 4:30 pm at the seminar room of School of Busniess, 83 Suhrawardy Avenue Baridhara, Dhaka. The chief guest of the seminar was Dr. Mohammad Ali Taslim Professor of Economics University of Dhaka. He is currently the CEO of Bangladesh Foreign Trade Institute (The Ministry of Commerce), one of the directors of Bangladesh Bank and Former Chairman of Bangladesh Tariff Commission, (The Ministry of Commerce). Professor Bazlul Mobin Chowdhury (Vice Chancellor), Dr. Nadim Jahangir (Professor and Director, School of Business), Dr. A.K. Monaw-war Uddin Ahmad (Professor and Head, Department of Economics) and Prof. Nazrul Islam (Department of Social Sciences and Humanities ) were present at the seminar amongst many other faculty members and distinguished guests at the School of Business.

In his speech, Dr. Mohammad Ali Taslim cited many common prejudices based on which the policies of this country are made. He sympathizes that the irony of fate is that in most countries like Bangladesh that need the most economic assistance, economists do not have any role to play in the policy making. He ends by strongly emphasizing on the fact that data must be properly collected and analyzed by competent economists before policies are made instead of basing them on popular prejudices as is the prevailing case in our country.

The seminar ended with a vote of thanks from Vice Chancellor, Prof. Bazlul Mobin Chowdhury.

Seminar “Economic Analysis and Policy”

iubies — Tue, 02 Nov 2010 09:14:59 +0000

Sir/Madam

You are cordially invited to a thought provoking seminar on “Economic Analysis and Policy”, hosted by Independent Economic Society (IES), a voluntary student club under Department of Economics.

The event will begin with a welcome speech by Dr. A.K. Monaw-war Uddin Ahmad, Professor and Head, Department of Economics.

Chief Guest: Dr. Mohammed Ali Taslim

Professor of Economics, University of Dhaka

CEO of Bangladesh Foreign Trade Institute (The Ministry of Commerce)

Former Chairman of Bangladesh Tariff Commission (The Ministry of Commerce)

Former Associate Professor of Economics

University Of New England (Australia)

Date: November 4^th, 2010, Thursday

Time: 4:30 PM

Venue: School of Business, Room – 603

Md. Khaled Saifullah

President, Independent Economic Society

IES goes to Delhi

iubies — Thu, 27 May 2010 15:36:30 +0000

From Left: Himadri Shekhar Day, Md. Khaled Saifullah

The Economics Association of Sri Venkateswara College invited IUB to participate in an International Economics Summit titled Blisspoint 2009 held in Delhi from 27th -29th October, 2009. Md. Khaled Saifullah and Himadri Shekhar Day of the Independent Economic Society represented IUB in this international event. The summit was inaugurated by various prominent personalities with great enthusiasm. There were several events which took place in Blisspoint 2009 amongst which IUB’s participants took part in horse trading, unmanageable, business plan and filler events. Other than students from many Indian national universities and colleges, international delegates from Pakistan, Bhutan, Indonesia, and Sri Lanka also participated in the summit. IUB was the only university to represent Bangladesh in the summit.

Students from the Economics Department of Sri Venkateswara College were involved in organizing the events that took place. Our IUBians found them to be very cooperative and friendly. They say through this event they got the opportunity to meet international students coming from different countries as well as local students from different states in India.

On the night of 29^th, the last day of the summit, participants from every country performed in a cultural event. Himadri Shekhar Day performed a song to represent both Bangladesh and IUB.

Debating Competition on Investment Climate

iubies — Sun, 16 May 2010 05:01:13 +0000

The Investment Climate Debate will take place at IFC office premises. The judging panel will be comprised of thee representatives, one from the Academia, one from the Private Sector and one from BICF. The tentative date for this event is from 23 – 25 May, 2010. At his point, we would like to get feedback from you regarding the possible topics for the debate. The topics will be selected from the eight broad thematic areas of the investment climate:

Alternative Dispute Resolution
Competition Policy
E-governance & E-Commerce
Improving Government Regulation of Business
Land Administration & Management
Public Private Partnership
Special Economic Zones
Vocational Skills Development

IES will take part in the debate to represent Independent University Bangladesh (IUB).

Inauguration of IES

iubies — Sat, 03 Apr 2010 06:03:25 +0000

‘Independent Economic Society’ (IES), a new student association under the Department of Economics, had its inauguration on 25th March, 2010, at the Asia Pacific Blossom Hotel, Dhaka. The President of IES, Md. Khaled Shaifullah introduced the club, its background and future aspirations. He said IES plans to create a professional environment and open opportunities for students to work in research projects with different banks and financial organizations to gain professional experience. The inauguration was followed by a seminar titled “Creating a Better Climate for Investment in Bangladesh”, organized by the Department of Economics of Independent University Bangladesh (IUB).

The program was attended by the Vice Chancellor, Prof. Bazlul Mobin Chowdhury, Prof. A.K. Monaw-war Uddin Ahmad, Head of the Department of Economics, Aminur Rahman, Associate Professor and Programme Coordinator of the Investment Climate Research Unit at IUB and as chief guest, Dr. Abul Barakat, Chairman, Janata Bank and Professor of Economics, Dhaka University. Syed Akhtar Mahmood, Senior Programme Manager for the Bangladesh Investment Climate Fund (BICF) also graced the occasion as guest speaker.

Mr Aminur Rahman talked about the official establishment of the Investment Climate Research Unit at IUB in October 2009. He also announced the ongoing and future activities of the research unit under the BICF Academic Partnership Program including awarding grants to faculty members for conducting research on Investment Climate issues, organizing seminars and workshops on the Investment Climate of Bangladesh, recruiting interns from the university for the International Finance Corporation (IFC), incorporating Investment Management into the curriculum of the School of Business and so on.

Syed Akhtar Mahmood discussed the many constraints faced by the private sector in Bangladesh and possible measures that can be taken to overcome those obstacles to create a better climate for Investment in Bangladesh. Moreover, Mr. Akhtar Mahmood elaborated on how the academic sector, with its active involvement and participation can contribute to the enhancement of the country’s investment climate.

Chief Guest, Prof. Abul Barakat emphasized on the need for human development before moving on to address other areas of development in Bangladesh. ‘I personally believe that development is not just about GDP or economic growth, it is about human development also, which is defined by three vital elements such as longevity, knowledge and real income where we lack operational practice’, he said.

The seminar concluded with discussions on the possible measures that can be taken collaboratively by the academic sector, business chamber leaders and government and non-government associations in order to successfully combat the many obstacles that continue to hamper the investment climate of Bangladesh.

IES Seminar “Investment Climate”

iubies — Fri, 19 Mar 2010 13:07:34 +0000

We are pleased to inform you that the Independent Economics Society (IES) will be holding it’s first seminar along with the International Finance Corporation (IFC) on “Investment Climate”.

Chief Guests:

Dr. Abul Barakat
Professor and Chairman
Department of economics, Dhaka University
Chairman, Janata Bank &
General Secretary, Bangladesh Economic Association

Dr. Bazlul Mobin Choudhury
Vice Chancellor
Independent University Bangladesh (IUB)

Representatives from World Bank and IFC and Many others

Date: Thursday, 25th March, 2010
Time: 16:30
Venue: Asia Pacific Blossom Hotel
House # 27, Park Road, Baridhara, Dhaka-1212

Warm wishes,

IES team

Agriculture Transformation of Bangladesh Economy

iubies — Mon, 18 Jan 2010 13:33:25 +0000

I chose the topic agriculture transformation in Bangladesh because of its importance both practically and theoretically. Agriculture plays a pivotal role in Bangladesh’s economy and in the lives of the vast majority of its population. While this crucial sector accounts for about one fourth (19.6%) of Bangladesh’s Gross Domestic Product (GDP), and 63% of the national employment, it faces serious challenges posed by low productivity and the decline of land availability. The situation is further aggravated due to global warming scenarios. The GDP share of individual sub sectors are about 13% for crops, 3% for livestock, 5% for fisheries and 2% for forestry.

Bangladesh is the most densely populated country in the world (953 person/sq km). The per capita arable land is only 0.05 ha. In 1901 an average of 216 persons inhabited one square kilometer. By 1951 that number had increased to 312 per square kilometer and, in 1988, reached 821. By the year 2000, population density was projected to exceed 1,000 persons per square kilometer. While there have been significant achievements is family planning, the population continues to grow at a rate of 2.02% in the year 2008, the level of urbanization remains low at 20%. This leaves 80% of the country’s total population of about 120 million to live in the rural areas which primarily depend on a poorly developed agriculture for livelihood. The rapid growth in population with the decline in cultivable land threatened to be a big problem for Bangladesh. CLICK HERE FOR FULL ARTICLE

Financial Transformation of Bangladesh Economy

iubies — Sat, 19 Dec 2009 15:45:38 +0000

The driving force for a nation today is the economic strength. Bangladesh is striving to become one of the middle income countries by 2021. A country’s overall economic performance is measured the total productive power of the economy in a year. While it is expected that the gross domestic product (GDP) of Bangladesh will continue to grow, the growth rate of GDP will determine the pace of the progress. A higher growth rate will enable Bangladesh to utilize is abundant manpower efficiently.

Once agriculture sector had the major contribution in GDP but as Bangladesh is developing, the contribution from agriculture sector is decreasing. And the contribution of financial sector such as industries, banks and remittance (foreign and domestic) is increasing. In 1986 agriculture sector directly contributes around 46 percent, in 1996 around 35 percent and in 2007-08 around 20.87 percent of the GDP. In 1986 industrial sector contributes around 10 percent, in 1996 around 11 percent and in 2007-08 around 17.77 percent of the GDP. Since 1996 economy has grown 5 to 6 percent per year before it was around 3 percent or less.

After the independence in 1971, everything was controlled by the government and government did not encourage private investment, and most industries were nationalized. In 1975-80 Bangladesh was slowly moving toward liberalization. In 1980-90 it was beginning of liberalization; government gave permission more liberally to private sector investment. In 1990 on-ward it was a period of liberalization and privatization. Financial sector became a driving force for growth since 1990 and domestic money supply also increased after 1990. CLICK HERE FOR FULL ARTICLE.