ISET

On 25 May, 2016 ISET faculty member and head of the Macroeconomic Policy Research Center at ISET's Policy Institute, Dr. Yaroslava Babych, was an invited panel speaker at the conference on Industrial Policy for the Development of Georgia, organized by the Centre for Social Studies of Georgia.
The first half of the conference was devoted to presentations and panel discussions on Georgia’s recent key economic trends, where Dr. Babych presented Georgia’s Trends in Economic Growth based on research conducted by ISET-PI. The main message of the presentation was that the Georgian economy showed remarkable resilience to the outside shocks of 2015. However, the more challenging and long-term issue is the deficiencies in education, which continue to lead to a high rate of self-employment in low-skilled agricultural subsistence farming.

On 21 April 2016, ISET hosted Maria De Paola from the University of Calabria, who presented a paper by Vincenzo Scoppa and De Paola herself, entitled 'Procrastination, Academic Success and the Effectiveness of a Remedial Program'.
According to De Paola, empirical evidence shows that individuals base very important economic decisions (such as investing in human capital, saving, and searching for a new job) on present-biased preferences. In other words, when confronted with a future investment such as studying (creating benefits in a distant future in terms of higher earnings related to better educational attainments), an individual with present-biased preferences will tend to procrastinate and delay the effort as much as possible. Sophisticated individuals – predicting their future preferences and aware of their own self-control problems – will try to use commitment devices to overcome or attenuate procrastination, whereas fully or partially naive individuals will be unable (or reluctant) to drop this habit, while incurring important welfare losses.

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