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University of Liberal Arts Bangladesh organized a Public Lecture on "Institutions and Economic Progress" with Dr. Sukhatme

March 31, 2014

 

University of Liberal Arts Bangladesh (ULAB) organized a public lecture on “Institutions and Economic Progress” on Wednesday 19 February, 2014 at its own campus auditorium in Dhanmondi. Dr. Vasant Sukhatme, Edward J. Noble Professor Emeritus of Economics at Macalester College in St. Paul, Minnesota, USA was the speaker.

 

Dr. Sukhatme did his undergraduate work in Presidency College, Kolkata and then earned a Ph.D. in economics at the University of Chicago, Chicago, Illinois.  He teaches courses in microeconomics and economic development; his main areas of research are applied microeconomics and economic development.  He comes to ULAB as a Fulbright Specialist. The Fulbright Program is run by the Council for International Exchange of Scholars and the U. S. State Department. Professor Sukhatme is currently at ULAB as part of the university's Fulbright award.

 

The lecture explained how well-functioning markets are essential for efficient resource use.  According to Professor Sukhatme, governments have an important role in correcting market failures but must be careful so as not to make matters worse by their interventions, resulting in government failure. Finally, a system based on private property but with the government playing an effective referee working in an environment with greater openness, greater predictability, and lower regulation will be more likely to lead to continuous economic progress.

 

ULAB Vice Chancellor Professor Imran Rahman handed over a crest to Professor Sukhatme. Professor Imran Rahman also delivered vote of thanks. Among others Lt Col Md. Foyzul Islam, Registrar of ULAB; ULAB Head of the Departments: ULAB Professors; Faculty Members; Admin and students were present in the program.

 

ULAB Vice Chancellor Professor Imran Rahman hands over a crest to Professor Sukhatme.