ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Apr
27

The US and Georgia: Finding the Common Denominator

At ISET we teach graduate economics, which uses the mathematical language to analyze economic behavior (“microeconomics”) and macroeconomic systems. Being based in Tbilisi, we heavily depend on “upstream” Georgian educational institutions, such as schools and undergraduate departments at TSU and elsewhere. Unfortunately, the level of quantitative literacy among the Georgian youth leaves much to be desired, which says something about the quality of educational programs they go through before arriving to ISET. The vast majority of our future students come ...
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Guest — mfmsm
The challenge is very interesting. It is due to the arrogance of systems that this has come about.
Tuesday, 28 April 2015 8:08 AM
Guest — megiddo02
This article touches on a painful issue. Georgians prefer to study law, international relations, psychology, or humanities -- all ... Read More
Tuesday, 28 April 2015 11:11 PM
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Apr
24

Let Tourists Arrive and Georgia Thrive!

After the collapse of the Soviet Union it was believed that tourism might become one of Georgia’s “locomotive” sectors. While the Shevardnadze government failed to develop this potential, after the Rose Revolution, tourism became a top priority. Each year since 2005, the direct effect of tourism (i.e. the money spent by tourists) alone has contributed 6-7% of Georgia’s total GDP. Georgia is a net exporter of services, and tourism accounts for about 60% of these service exports. This is important income for the country, helping to finance the country’s la...
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Apr
01

President Margvelashvili and Cartu Foundation Unveil Plans to Usher a New Era in Georgia’s Public Schooling

April 1, 2015 A little-known experiment launched in 2009 is about to revolutionize Georgia’s countryside. “Teach for Georgia (TG)” [1] is a small program administered by the National Center for Teachers’ Professional Development, seeking to stream new blood into the public education system. With a tiny annual budget of 212,000 GEL, TG was initially conceived as a publically funded “startup”, an attempt to think and act out-of-the box. Though starting small and mainly focusing on schools in remote mountain communities, TG has always been seen as potential...
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Guest — Y
Great, where do I sign up?.... But I am worried - what if I spend a year in the mountains and still can't redefine my purpose in l... Read More
Thursday, 02 April 2015 12:12 AM
Guest — megiddo02
I fully agree with the message of the article -- radical, groundbreaking reforms are needed in Georgia's school system.The specifi... Read More
Thursday, 02 April 2015 5:05 PM
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Feb
20

Education for the Poor

Worldwide, cash transfer programs are used to fight poverty. Developing countries typically spend between 1% and 2% of GDP on cash transfers (“Cash Transfers: a Literature Review”, DFID Policy Division, 2011). International donors also invest substantially into such programs. The rationale for cash transfers goes beyond relieving short-run poverty. In their 2011 book Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, eminent development economists Abhijit Banerjee and Esther Duflo explain the approach as follows: People are poor bec...
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Guest — Helene Ryding
Economists tend to think that all money is the same. If you are poor, then you simply don't have enough, and are forced constantl... Read More
Friday, 20 February 2015 7:07 PM
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Dec
19

Bringing Light to Georgia’s Darkest Corners

Nodar Dumbadze has a reputation for bringing tears and laughs out of his readers. Yet, when watching his “Hellados” performed in the tiny municipal “Culture House” in Terjola, we were laughing and crying not only in appreciation of Dumbadze's rare ability to weave tragedy and comedy into a single narrative. We were certainly moved by Dumbadze’s story of teenagers growing up in the tough multiethnic environment of Sukhumi, the love-hate relationship between the Georgian Jemal and the Greek Ianguli, and their ultimate love for their homeland. But, perhaps ...
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Guest — mfmsm
It had it. It was called TLG. It was removed for reasons no-one understood, and replaced with a simulacrum. Voila tout.
Friday, 19 December 2014 7:07 PM
Guest — Eric Livny
Thanks, Simon! This is a wonderful example... I am familiar with a few others. Israel used to give young people (particularly wome... Read More
Friday, 19 December 2014 11:11 PM
Guest — Simon Appleby
After the Second World War, Australian higher education, although almost totally state-run, was run on a full cost-recovery basis.... Read More
Friday, 19 December 2014 10:10 PM
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Dec
15

The Economics of Great Personalities

Some weeks ago, I was invited by a development bank to the Hotel Eden in Kvareli, Kakheti, where we discussed Georgia’s possibilities to develop economically. When we talked about the potential of the manufacturing sector, one of the attending bank employees said: “The problem is that Georgia does not have Rudolf Diesel and Nikolaus Otto.” I think that there is some truth in this sentence, which one might alter so that it fits better to modern times: “The problem is that Georgia does not have a Mark Zuckerberg/Steve Jobs/Bill Gates/Larry Page” or, to rem...
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Guest — RT
> If Einstein was born to smallholder farmers in Ethiopia, it is unlikely that his great potential would have materialized. I hear... Read More
Monday, 15 December 2014 12:12 PM
Guest — Florian
The problem is the vicious nepotism. If jobs are assigned primarily by connection, not by qualification, of course it is unattract... Read More
Tuesday, 23 December 2014 4:04 PM
Guest — Nino
Indeed, we need to get the institutional framework right.Unfortunately, today people, who could be great personalities do not have... Read More
Monday, 15 December 2014 12:12 PM
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