Learning Economics with Prof. V.K.Pailwar

Prof. V.K.Pailwar

Q1. How do you think a colleague or a friend who knows you well would describe you?                                                                          –    Three words- Hardworking, Sincere, Trustworthy

Q2. How do you evaluate success?                                                       –     In the short run, success is overcoming hurdles to accomplish a task in hand. However, in the long run, it is an overall happiness which, though cannot be measured and quantified, can be felt from the respect and love from the people involved in one’s life. The larger the number of such people in one’s life, the larger is the success.

Q3. Do you think grades are a good indication to measure ones competency in a field or a subject? Why? 

  –    Grades are an indication of the hard work people put in learning a subject and acquiring knowledge. Competency, apart from the subject knowledge, requires ability to implement that knowledge in one’s work sphere, and thus, is much wider term. It can be better assessed through an efficient implementation of a given task.

Q4. Tell us a little bit about your book- Economic Environment of Business. How do you think students and instructors should use it?

  –     The book – Economic Environment of Business – has been designed for the students of management and practicing managers who constantly face challenges emerging from a continuously changing economic environment, but have little or no background in economics. This book aims at strengthening analytical skills by explaining basic economic concepts in simple lucid language and using those concepts for assessing current evolving domestic and global economic scenario. Students and instructors can use it along with the business newspapers and magazines to understand current business and economic scenario.

Q5. Narrate us one of your most interesting classroom experiences at IMT-N. 

  –     Batch of 2007-09 in IMT-N, was very involved and participative in my sessions. The most memorable event belongs to this batch. In one of my sessions, two students of this batch fought with each other to answer one of my questions.

Their enthusiasm and participative spirit is memorable.

Q6. Which is your most favorite book and why?                                                                                     

   –     Wings of Fire, An Autobiography of A P J Abdul Kalam, for its simplicity and philosophy.

Q7. Quote us your favorite lines.                                                                                                          

   –     My favourite lines are:

“…The kingdom of God is within you in the form of this power, to help achieve your goals and realize your dreams.”

“There are many different types and levels of experience that turn this internal power reaction critical. Sometimes, when we are ready, the gentlest of contacts with Him fills us with insight and wisdom. This could come from an encounter with another person, from a word, a question, a gesture or even a look. Many a time, it could come even through a book, a conversation, some phrase, even a line from a poem or the mere sight of a picture.”

Wings of a Fire, An Autobiography, A P J Abdul Kalam with Arun Tiwari, Universities Press (India) Private Limited, 1999, pp 49.

Q8. How do you think economics should be taught at management level and how do you think Indian B-schools are leveraging the resources they have to deliver the subject?                             

  –     Theoretical underpinnings should be illustrated with their applications at micro (industry) level as well as at macro (country) level. Both offline resources (e.g., magazines, newspapers, case studies, role plays) and online resources (e.g., simulations games) are used by business schools for illustrating applications of principles of economics in business organizations).

Q9. What are the various methods you employ to make classroom sessions interesting?                

  –      Sessions become interesting if there is total involvement of the teacher and students in the classroom. To keep my involvement in the sessions I prepare well in advance by revising the theoretical underpinnings and updating  myself by going through current developments. Students’ involvement in the class room partly depends on their preparedness for class which I try to ensure by giving them take home assignments. But largely the interest depends on what goes within the class. For involving students in the classroom, an interactive mode of teaching is adopted.

Students are made to participate in the learning process by brainstorming on certain crucial issues, going through simulation exercises and participating in role plays.

Q10. Give us three words that describe a perfect manager.                                                                   

  –       Knowledgeable, Organized and Involving.

Q11. How do you describe IMT?                                                                

  –       IMT is on par with the best b-schools in India in terms of physical and learning infrastructure, intellectual capital, course curriculum, pedagogy and processes.

Q12. Message for your students.

  –       You are the privileged few in this world to get opportunity to study in institutes like IMT which provide the best of the facilities. For many of you this may be the last chance to learn various subjects formally. The primary activity of students should be to excel in studies. So be focused on your primary activity and make use of the resources you have in hand to excel in it. Make maximum use of the class room time and professors’ expertise and experiences to enhance your knowledge. Make use of online and offline resources available in the computer centre as well as in the library to refine your understanding. Interact with your peers who are from diverse social, educational and economic background to enrich and widen your horizon.

However, do not forget that our body is the medium through which we carry out all our activities. A sound mind can only live in a sound body. The efficiency and efficacy of the work also depend on the soundness of our health.

Therefore, a part of your time should also be devoted to your body fitness. Equally important is to take proper rest and sleep. Sleep helps in rejuvenating our body and mind and energizes us. Therefore, do not compromise on your sleep hours.

Success with ethical practices and right values helps in gaining respect from others. The right values can be imbibed through formative stages which you are still going through. So excel in exam and other activities with right value system.

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