EXTENDED ESSAY: REFLECTIVE CONVERSATION 3 (VIVA VOCE)

Writing the EE has been an enriching experience as I’ve been able to connect personal encounters to subjects I enjoy – economics and psychology. By analyzing Denmark and India’s economy’s I could correlate that to resource allocation and income inequality. If done again, I would further explore how psychology enables us to overcome assumptions in economics and how diagrams aren’t robust enough to explain the ‘why’ behind economic decisions. This would’ve likely enabled me to justify the interdisciplinary approach taken, to a larger extent. Nonetheless, the use of multiple resources (books, research papers, etc), I was able to come to a compelling conclusion that showed a significant relationship between both variables. In the future, I could use my EE to extend my learning. When talking to my supervisor, we both agreed that it would be worthwhile exploring how Indians allocate resources in environments other than India, where certain expectations are maintained. This would allow me to come to a more definite conclusion regarding how incentives drive and determine decisions made by economic agents.

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