Prelims Focus- 10th October 2023

1.Nobel prize in economics 2023

In News: Claudia Goldin, a US labour economist, has been awarded the Nobel Prize in Economic Sciences for her research on women’s employment outcomes.

Details:

• Economist Claudia Goldin has received recognition for her contributions to the study of women’s employment outcomes.
• The Sveriges Riksbank Prize in Economic Sciences is another name for the Nobel Prize in Economic Sciences.
• Goldin is just the third female recipient of the prize since its establishment in 1969.

Research:

• The researcher offered a detailed report on women’s earnings and involvement in the workforce throughout history. Her study uncovers the reasons for changes in this area and identifies the primary factors contributing to the existing gender disparity.
• The author found that female participation in the workforce did not consistently rise over a 200-year period, but instead followed a U-shaped trend. Initially, married women’s involvement decreased as society shifted from agriculture to industry in the 1800s. However, it started to increase again in the early 1900s with the growth of the service industry.
• Goldin explained this pattern as Society and gender role changes have caused women’s responsibilities in the home and family to change.
• In the past, differences in education and career choices explained most of the gender pay gap. 
• However, new research by Goldin reveals that the pay gap mainly exists between men and women in the same job, especially after having their first child. Goldin highlights how marriage, parenthood, and birth control affect women’s education, career, and income.

2. Unemployment rate is decline

In News:

• According to the recent Periodic Labour Force Survey, the unemployment rate in the country has decreased during the period of April to June 2023.
• Both the Labour Force Participation Rate (LFPR) and the Worker-Population Ratio (WPR) increased for individuals aged 15 years and older.

Periodic Labour Force Survey (PLFS):

• The National Statistical Office (NSO) introduced the Periodic Labour Force Survey in April 2017 to address the need for more regular updates on labor force data.

Purpose:

• To determine the main employment and unemployment statistics (such as the ratio of workers to the population, the rate of labor force participation, and the unemployment rate) specifically for urban areas over a three-month period based on the ‘Current Weekly Status’ data.
• To calculate employment and unemployment rates in rural and urban areas each year using both the usual status and Current Weekly Status measurements.

3.Hezbollah

In News: Amidst the ongoing war between Israel and Hamas, Hamas-backed Hezbollah is targeting Israeli military positions in the disputed Shebaa Farms area.

• Hezbollah, or “Party of God”, was founded in 1982 by the Revolutionary Guards of Iran. 
• Its main goal was to implement an Islamic revolution in Iran and to fight against Israeli forces invading Lebanon during the Lebanese Civil War (1975-1990). 
• Hezbollah’s influence extends far beyond Lebanon. The group has deep ties to other Iranian-backed groups in the region, including Palestinian groups such as Hamas and Islamic Jihad. 
• In Western countries, including the United States, Hezbollah is a terrorist organization.

4.360 Degree Appraisal System

In News: Indian Navy launches 360 Degree Appraisal to improve evaluation during promotion.

• Need for the new system – the current regular confidential reports from senior officials limit the top-down approach.  
• New evaluation system – through the new system, officers being considered for promotion undergo peer evaluation by both their peers and subordinates. 
• Questionnaire – This contains a series of questions covering things like professional knowledge, leadership qualities, fitness for war/emergency and potential for senior positions. 
• Survey Quantification – This is done by a board appointed for independent analysis led by a ticket officer. 
• Feedback Mechanism – Findings are communicated to officials so they can change and improve behavior. This initiative aims to maintain a “combat-ready, reliable, connected and forward-looking force.”

5.Zealandia

In News: An international team of geologists and seismologists have created a new map of Zealandia, the Earth’s forgotten 8th continent.

• Historical Formation – About 83 million years ago, the supercontinent Gondwana broke up. That caused the beginning of the present continents and also  the birth of Zealandia. 
• Geographic phenomena – about 23 million years ago, land may have been completely submerged.  Currently, 94% is under the sea and the remaining 6% is the territory of New Zealand and neighboring islands.  
  • It is also significantly larger than the world’s largest peninsula, Arabia, and the Indian Peninsula. 
• Economic importance – It supports significant inshore fisheries and contains gas deposits, the largest known being the  Maui gas field near Taranaki, New Zealand.

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