Pasighat: The Department of Economics, Arunachal Pradesh University (APU), Pasighat, conducted an in-depth session on the Societal Impacts of Classical and Keynesian Philosophy, presented by Prof. Lijum Nochi from the Department of Economics, Rajiv Gandhi University.
The talk's objective was to provide an overview of how the classical and Keynesian schools of thought have transformed our economic framework and influenced social policies over the years. Prof. Nochi discussed the fundamental aspects of economics, focusing on resource allocation, classical economics’ laissez-faire principles, and public morality.
He continued by explaining Keynesian ideas, emphasizing government intervention, the role of instructions, and market expansions for economic efficiency. He further underscored the requirement of a balanced approach, combining classical and Keynesian methods to address long- and short-run economic challenges.
Dr. Tagam Dabi, Head of Economics, applauded Prof. Lijum for the session and appreciated his comprehensive knowledge and expertise in the field of economics. The program was directed by Obinam Libang, Assistant Prof. (Guest) in the Department of Economics (APU).
The event was attended by Dr Prasanjit Baruah (visiting faculty), Dr Eli Doye, Dr Tarh Ramya, and Koptik Mossang.
The discussions offered an in-depth understanding of how these two economic philosophies have influenced societal development and policy-making, allowing participants to have a thorough understanding of the economics involved in economic theory and practice.
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