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The Economics of Gold: India's Challenge in 2013
內容大綱
On June 13, 2013, an online news portal reported on a press conference at which India’s finance minister urged Indians to refrain from buying gold. India was facing a huge economic challenge. Its account deficit had hit a record high of 6.7 per cent of its gross domestic product. This increase was attributed to rising gold imports and was a major cause of concern for the Indian finance minister and the governor of the Reserve Bank of India, India’s central bank. This crisis raised some questions that had come up before: Why was gold such an obsession in India? Why was it seen as a good investment? How could the country’s financial leaders address this situation?
學習目標
The case can be used in an MBA first-year macroeconomics class to achieve the following objectives:<ul><li>To provide students with a historical perspective of gold in India.</li><li>To help them identify the determinants of the demand for gold in India, analyze these determinants using relevant data, and critically evaluate gold as an investment choice.</li><li>To help students understand the impact of gold demand on India’s trade balance and current account deficit.</li><li>To highlight the differences between India and rest of the world with respect to the economics of gold.</li></ul>