Heard @ IIM

Today the consumer behavior professor cleared ALL my marketing fundas...

The pearls of wisdom -

Learning marketing is science. Applying marketing is an art. If you don't learn it properly, your application will be modern art!

Back to school

Some teachers make siting in class after a heavy lunch on a Saturday afternoon fun.

This was during our Macroeconomics class...We have a distributed class as in a part of the class is in Chennai. The prof saw that the Chennai guys were not participating in the discussion...the following happened:

Prof: Chennai....I hope you are with us...at least in spirit
Wise Ass: Sir, Spirits in the evenings
Prof: Is it...everyday??
Wise Ass: Between bouts of laughter...yes sir
Prof: I think I need to be in Chennai next week
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Most of us are shit scared of our Stats prof...anyway he is another cool guy...at least from his choice in music ;) ....the following is from his slides

Sing along with Bob Dylan...
How many deviations does a statistician fly
Before he can cross much of it [the data]?
The answer my friend is Chebyshev Theorem
The answer is Chebyshev Theorem

I know it is geeky....but still fun ;)

Auto Riknomics

Had my first couple of microeconomics classes last weekend. Interesting view point on the Auto wale Bhaiyas

Well, all of us have heard atleast one story of a good Samaritan cab driver in Dubai/Japan/US who waved off some waiting charge or gave a discount or some such and look at the auto wallahs in Bangalore...

Economist's reasoning - well compare (the discount/earnings per day) for each of them - The Guy abroad gave you the discount because he could afford it.

Okay then why are the Auto wallah's in Chennai much worse than the ones in Bangalore?

Economist's reasoning - The Chennai public transportation system is much better than that of Bangalore. So the number of customers for the Chennai driver is reduced to the people who need the Auto urgently or do not want to use the public transport.

All a matter of demand and supply!! ;)

P.S. This is what I understood from the discussion...may not be the verbatim transcript of what happened in the class!

The prof - Prof V Ranganathan