Sunday, September 10, 2006

Real World Economics

It's the 3rd week of my MBA program at INSEAD. One thing I am enjoying a lot, besides the huge parties, is the optional reading material of the courses. These readings are mostly applications of what we are taught in class to real world situations. One such reading was an article The $100 Terrorist Insurance Plan for our Economics class. The reading was given in relation to our class on Supply, Demand and Markets. The article suggests a solution to the screening done during the security check by airlines. There is a demand for security checks and people are willing to pay for it. So the targeted passengers should be compensated for the trouble. Equipped with the knowledge worth 5 sessions of Economics, I find the solution pretty neat.

It's a shame that I hardly have time to read the optional cases which are the most fun part of the courses.

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