Visiting Professor to the department of economics of the University of Mysore, Prof Lawrence Surendra, on Wednesday, stressed the need to protect the diversity of scales in the changing economic scenario in the wake of globalisation. Surendra was speaking at the valedictory of the 21-day twentieth refresher course in economics, at the UGC-Academic Staff College, in the city. 

The government must create a regulatory atmosphere to ensure that there is economy of scales in all areas of business, the professor said. In reference to Mysore, the professor said that with funds coming under JNNURM, for the development of the city, there is a need to ensure that diversity of scales is maintained in the economy. Lauding the efforts of UGC-ASC for organising the refresher course, the professor said that such courses create among the participants a community identity, beyond the ones related to the individual’s caste, religion, ethnicity and community.

Economists often tend to look at macro issues of the economy, while missing micro issues that are local in nature, Surendra said.

“We often restrict our debates to ones related to market versus the State. We need to tread the third path, a combination of the State and the market. We need to get away from simplistic dichotomies,” Surendra added. It is perhaps, time to study economics from other angles like sociological, anthropological and so on, he said, pointing to the need to tailor the syllabus to include the same.

Head of the department of studies in economics, Tulasimala, in her speech stressed the need for teachers to bring the youth - who form a large section of our population and who are becoming restless and rebellious these days - on the right track by motivating them to excel utilising the opportunities available to them.
 That way they’ll contribute to the country’s progress, she added. ASC Director G Venkatesh Kumar and others were present.