Research Projects

Master’s Dissertation (M.Sc. Economics, Shiv Nadar University, India)

1. Caste in Stone? Cultural Distance and the Education Game

Supervisors: Dr. Pubali Chakraborty & Dr. Partha Chatterjee

Abstract: This paper studies the disparities in human capital attainment and income distributions between disadvantaged minority groups and non-minority groups in India, and estimates the extent to which these gaps can be explained by cultural distance. We develop a three-period macroeconomic model to project human capital and income distributions for the next generation, based on observed parental distributions. Cultural distances between social groups are measured using total variation in cultural norms, drawing on data from the Notions of Identity Module 2.1 of the Samaj Survey Project. Human capital and income data are sourced from the Consumer Pyramids Household Survey. Our findings reveal persistent gaps in both human capital and income between the non-minorities and the disadvantaged minorities which includes Scheduled Castes, Scheduled Tribes, and Muslims. We estimate that approximately 22.15% of the gap in human capital attainment can be attributed to cultural distance, whereas cultural distance accounts for only about 7.7% of the income gap of next generations.

2. Shedding Light on Consumption: Assessing Night-Time Luminosity as a Predictor of Consumption Expenditure in India

Streamlit App: Nightlight Atlas hosted through Github. Codes can be found here

Abstract: This study evaluates the effectiveness of night-time light intensity as a proxy for consumption expenditure across regions in India. Using data from the Socio-Economic and Caste Census (2011) and the Defense Meteorological Satellite Program (DMSP) Operational Linescan System (OLS) - as compiled by SHRUG - I develop a predictive model leveraging TensorFlow and Keras. Additionally, I employ Shapley Additive Explanations (SHAP) to assess the contribution of nightlight to predicting consumption expenditure. While the model demonstrates moderate predictive accuracy, SHAP analysis indicates that nightlight serves as a strong predictor of consumption expenditure. Furthermore, disaggregated analysis reveals that the marginal returns to increased nightlight intensity are higher in rural areas compared to urban areas, suggesting a differential relationship between night-time luminosity and economic activity across regions.

Supervisor: Dr. Gitanjali Sen | Co-author: Manya Pahwa (2024, Shiv Nadar University)

Abstract: This paper examines the impact of COVID-19 on educational expenditure relative to household income across heterogeneous social groups in India. Using the CMIE-CPHS dataset from 2019 to 2021, we analyze variations in educational investment patterns before and after the pandemic. Employing a Triple Difference-in-Differences (DiDiD) approach, we explore pre- and post-pandemic trends, uncovering a significant decline in educational expenditure across all religious groups. Among caste categories, the expected decline is however not seen. We discuss potential factors driving these results, including school closures, reduced teacher participation, widespread job losses, and heightened financial constraints on households. This study underscores the disproportionate impact of the pandemic on educational access for marginalized communities.

4. Does Overconfidence Lead to Procrastination?: A Cognitive Reflection Test Experiment

Supervisor: Dr. Punarjit Roychowdhury (2024, Shiv Nadar University)

Abstract: Overconfidence and Procrastination, are two vast and distinct areas in the field of Behavioural Economics. This study tries to construct a bridge between both these areas and understand whether an overconfident individual is more likely, less likely or does it have no effect on procrastination of a particular task. Over-confidence among the students has been captured through the Cognitive Reflection Test and self-evaluation methods, followed by observing the identified over-confident students’ behaviour on delaying tasks, hence capturing procrastination among them.

5. An Environmental Kuznet’s Curve Analysis for River Economies: A Case Study on Ganga and Yamuna

Supervisor: Dr. Ram Ranjan | Co-author: Manya Pahwa (2024, Shiv Nadar University)

Abstract: The Environmental Kuznets Curve suggests an inverted U-shaped relationship between the level of pollutants in the environment and the level of income. This study, by employing a panel data set for a total of 8 states, through which Ganga and Yamuna flow, tries to establish EKC relationships for Fecal Coliform, Bio-chemical Oxygen Demand, Nitrates and Nitrites and Conductivity. The data has been collected over the period 2012-2020 (except for the year 2015). This exercise is done separately for each River Economy. The concerned states are Delhi, Himachal Pradesh, Uttarakhand, Haryana, West Bengal, Uttar Pradesh, Bihar and Jharkhand. Clear, inverted U-shaped curves are estimated for all pollutants for Ganga, but for Yamuna, U-shaped curves are observed in most cases except for fecal coliform. The results for Nitrate-Nitrite and Conductivity have been obtained with relative robustness. However, unlike other studies, the results obtained for fecal coliform and biochemical oxygen demand are not robust in this paper.

Undergraduate Dissertation (B.Sc. Economics (Hons.), XIM University)

6. Title: Economics of Discrimination: Review of Gary Becker’s work and its application on India

Supervisors: Dr. Bharatee Bhusana Dash & Dr. Pintu Parui

Abstract: Discrimination is a problem that has been existing for many centuries, and it is essential to understand the economics behind this practice. This dissertation discusses how economists understand discrimination and explains why discrimination persists today. It also has covered crucial aspects of taste-based discrimination, which talks about people who discriminate because of ‘ignorance’ and ‘prejudice,’ and statistical discrimination practiced by firms whose motive is profit maximization. From the ethical point of view of society, taste-based discrimination is considered unfair, whereas statistical discrimination is fair. My study covers the model proposed by Gary Becker (1957), which focused on taste-based discrimination and applied it in the United States in the context of racial discrimination. Caste discrimination in India aligns with taste-based discrimination, where over the years, India has seen the emergence of various deprived castes. The reason behind this is prejudice and ignorance, which has ultimately led to discriminatory attitudes of the upper castes against the oppressed social groups. This dissertation reviews and applies Becker’s (1957) work on the economic model of discrimination in India and constructs an extension to the model where certain assumptions have been relaxed. In the Indian context, the model has been applied to two social classes, the higher and the lower class, where they are assumed to be perfect substitutes, and this distinction is made based on the respective group’s economic position in society. The model also explains why it would be inefficient for the employer to practice discrimination in the firm by highlighting the monetary costs of discrimination. Finally, the dissertation also consists of a chapter that captures the ideas of affirmative action in India and the rationale behind implementing them. The chapter also suggests policy prescriptions that could help erase people’s discriminatory mindsets in the long run.

7. Gains from Trade: An Intuition behind Why Countries Exchange

Supervisor: Dr. Anwesha Bandyopadhyay | Co-author: Sharanya Roy (2022, XIM University)

Abstract: Will countries still trade if they produce goods with the same characteristics? The primary objective of this article is to understand the concept of gains from trade, at a micro level and take it to a macro level.We have compiled various examples and ap- proached this topic by initially understanding the essence of the Fundamental Theorems of Welfare Economics and finding its deep lying intuition using the Robinson Crusoe Model and the famous Ricardian Model. The aim is to understand whether it will be beneficial for countries to trade under such circumstances or if it is just a myth that trading is advantageous to countries