Economics and Management

Economics and Management Mr. V. He has completed a PhD in economics.

Navirathan is a Deputy Registrar at Eastern University, Sri Lanka, with academic and professional experience in economics, management, public administration, planning, development, and university administration.

📘 THEORIES AND APPROACHES TO DEVELOPMENT PLANNINGDevelopment planning is not simply about achieving higher economic grow...
14/09/2026

📘 THEORIES AND APPROACHES TO DEVELOPMENT PLANNING

Development planning is not simply about achieving higher economic growth; it is a systematic process of transforming economic structures, institutions, human capabilities, social wellbeing, and environmental sustainability.
Development thinking has evolved through several important perspectives. Classical and Neoclassical theories emphasize markets, capital accumulation, productivity, and efficient resource allocation, while Keynesian theory highlights government intervention, public investment, and demand management. Structuralist and Dependency theories draw attention to structural inequalities, external dependence, industrial transformation, and the particular challenges faced by developing economies.
Modern approaches broaden the meaning of development. The Human Development Approach places people, capabilities, health, education, and wellbeing at the centre of development. Participatory Development emphasizes community involvement and empowerment, while Sustainable Development integrates economic, social, and environmental objectives. An Integrated Development Approach brings these dimensions together through coordinated national, regional, sectoral, and local planning.
Therefore, effective development planning should not depend on a single theory. It requires an appropriate combination of market mechanisms, public policy, institutional capacity, people's participation, social equity, and environmental responsibility according to a country's development context.
Different theories provide different pathways, but the ultimate goal of development planning is to improve human wellbeing and create an inclusive, resilient, and sustainable future.

KEY INDICATORS FOR BETTER MANAGEMENT — Measure • Monitor • Manage • AchieveEffective management requires more than simpl...
14/09/2026

KEY INDICATORS FOR BETTER MANAGEMENT — Measure • Monitor • Manage • Achieve

Effective management requires more than simply measuring performance. A comprehensive management system should monitor performance, risks, controls, quality, efficiency, goals, success, actions, financial outcomes, and organisational behaviour.

The key indicators include: KPI – Key Performance Indicator; KRI – Key Risk Indicator; KCI – Key Control Indicator; KQI – Key Quality Indicator; KEI – Key Efficiency Indicator; KGI – Key Goal Indicator; KSI – Key Success Indicator; KAI – Key Action Indicator; KFI – Key Financial Indicator; and KBI – Key Behavior Indicator.
When these indicators are integrated with strategic objectives, they strengthen evidence-based decision-making, accountability, organisational learning, resource efficiency, risk management, and continuous improvement. Indicators should therefore not merely report what has happened—they should guide managers towards what needs to happen next.
Measure performance. Identify risks. Improve quality. Strengthen accountability. Achieve sustainable results.



Mr. V. Navirathan
Deputy Registrar (Establishment) | Eastern University, Sri Lanka

📚 PUBLIC FUNDS vs PRIVATE FUNDSPublic funds are financial resources collected and managed by the government through taxe...
13/09/2026

📚 PUBLIC FUNDS vs PRIVATE FUNDS

Public funds are financial resources collected and managed by the government through taxes, fees, grants, and public borrowing. They are used to provide infrastructure, education, healthcare, social welfare, and other public services.
Private funds belong to individuals or private organizations and are generated through income, savings, profits, investments, and private loans. They support personal consumption, business expansion, investment, and wealth creation.

🔹 Key Difference: Public funds primarily promote collective welfare and national development, while private funds mainly serve individual or organizational objectives.
Effective management of both is essential for sustainable economic growth and social wellbeing.

🌍 ALIGNING THE ENVIRONMENT AND ECONOMY: PROBLEMS, POLICIES AND OUTCOMESEnvironmental degradation frequently reflects eco...
13/09/2026

🌍 ALIGNING THE ENVIRONMENT AND ECONOMY: PROBLEMS, POLICIES AND OUTCOMES

Environmental degradation frequently reflects economic and institutional failures.
🔸 Negative externalities arise when pollution or environmental damage imposes costs on others that are not reflected in market prices.
🔸 Public goods, such as clean air and climate stability, may be inadequately protected because their benefits are widely shared.
🔸 Common resources, including fisheries, forests and groundwater, may be overused when access and responsibilities are poorly governed.
Governments can respond through a suitable combination of:
✅ Environmental taxes
✅ Regulations and standards
✅ Tradable permits
✅ Removal of environmentally harmful subsidies
✅ Green public investment
✅ Environmental information and voluntary measures
Effective policies should internalize environmental costs, encourage innovation, improve resource efficiency and protect vulnerable groups during the transition.
No single policy instrument is appropriate for every situation. Policy selection must consider administrative capacity, distributional effects, economic efficiency and environmental effectiveness.
📌 Sound environmental policy aligns economic incentives with ecological sustainability and long-term social wellbeing.
Follow and share for more academically grounded discussions on economics, planning and development.

EXTERNALITIES: EFFECTS BEYOND THE MARKETExternalities arise when the actions of consumers or producers impose costs or p...
12/09/2026

EXTERNALITIES: EFFECTS BEYOND THE MARKET

Externalities arise when the actions of consumers or producers impose costs or provide benefits to third parties without market compensation.
Negative externalities, such as pollution and traffic congestion, lead to overproduction. Positive externalities, such as education, vaccination and research, often result in underproduction.
Corrective taxes, subsidies, regulation, tradable permits and well-defined property rights can help align private decisions with social welfare.
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MARKET FAILURE: WHEN MARKETS FAIL SOCIETYMarket failure occurs when the free market does not allocate scarce resources e...
12/09/2026

MARKET FAILURE: WHEN MARKETS FAIL SOCIETY

Market failure occurs when the free market does not allocate scarce resources efficiently, resulting in a loss of social welfare. Externalities, public goods, market power and information asymmetry are its principal causes.
Well-designed government interventions—including taxation, subsidies, regulation, public provision and competition policies—can help correct these failures and promote greater economic efficiency and social wellbeing.

09/09/2026

💻🇱🇰 Digital Transformation Units for All State Institutions – A Major Step Towards Digital Government

Sri Lanka is moving forward with the establishment of Digital Transformation Units in all government institutions under the National Digital Economy Plan 2025–2030.

According to the Cabinet decision, each unit will be headed by a Chief Digital Officer (CDO) who will report directly to the head of the respective institution. These units are expected to coordinate and strengthen institution-wide digital transformation while ensuring alignment with national digital standards and infrastructure.

Their key areas of work will include enterprise architecture, data and artificial intelligence, cybersecurity, system interoperability, and digital advisory services. The institutional structure will be based on the Digital Government Reference Framework prepared by GovTech Sri Lanka.

This initiative has the potential to improve public-sector efficiency, transparency, service delivery, data-driven decision-making and citizen access to government services.

Digital transformation should not simply mean converting paperwork into electronic form. It should lead to simpler procedures, integrated institutions, faster services and better outcomes for citizens.

🇱🇰 A digitally capable public sector is an essential foundation for a modern and competitive Sri Lankan economy.

09/09/2026

🌅 A Calm Mind Reveals the Right Path

Just as the bottom of the water becomes clear when the water is still, the right direction in life becomes clearer when our mind is calm.

When challenges arise, stay patient. Think clearly, act wisely, and move forward with confidence.

🌿 Calm Mind → Clear Thinking → Better Decisions → Successful Life

☀️ Good Morning! May your day be filled with peace, positivity, and success.

09/09/2026

🌟 Never Lose Yourself

No matter what you lose in life—opportunities, possessions, or even temporary success—never lose yourself.

Your confidence, values, courage, and determination are your greatest assets. Difficult times may test you, but they can also shape you into a stronger person.

💫 Believe in yourself. Protect your inner strength. Keep moving forward.

You can rebuild almost anything when you still have yourself. 🌱

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