Nasreen Nawaz

Doctor of Philosopy

Michigan State University

"All I am armed with is research." -Mike Wallace

I live for love, the love of Economics inspired by Joseph Stiglitz, whom I call as the father of real world economics. My research interests are Econometrics, Time Series Analysis, Business Cycles, Theoretical and Empirical Macroeconomics and Public Policy in Dynamic Framework.

Time- a continuously changing variable which has an influence on almost each and everything in the universe, is the leading determinant of mystery of nature. It is also the most precious resource which nature has gifted equally to everyone. The passing moment is as much yours as it is mine. It can neither be gifted nor stolen- the only treasure which purely belongs to you and still you cannot store it for reuse. Mysterious!

"The most beautiful thing we can experience is the mysterious. It is the source of all true art and all science." - Albert Einstein

Optimal control is the key in economic policy formulation. I wish the advocates of free market had taken into account the efficiency losses on the dynamic adjustment path to the equilibrium, and then they would probably have figured out the ways to minimize those losses. My dear Sir, Adam Smith, you did insurmountable damage to this world!

Theory Vs. Practical

When it comes to knowledge there are different ways of acquiring it. One facet of knowledge is theory and the other one, practical. Knowledge is complete, when it bridges the both ends of the spectrum- theory and practical. A theory which fails the test of practical has no standing; rather a source of misguidance! On the other hand, a theory as per practical, compresses a large amount of data into a few formulas and rules which can be used for prediction as well. Therefore, a theory which supports the practical is the most valuable piece of knowledge! The existence of a theory is justified only if it helps explain the practical facts, after all it is the practical which always wins in an instance of a clash between theory and practical. Practical is the language of nature!

“Before I got married I had six theories about raising children; now, I have six children and no theory.” - John Wilmot

I shall always be learning, striving to grow intellectually, researching new ideas and inventing new techniques. The moment I stop doing it, will be the moment I shall stop being!

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