Zehra Farooq
@ZehraFarooq
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PhD Economics (STEM) | Public Finance/Tax Policy/Econ. Dev. | ex-RA @CEQInstitute | Fellow @EF_Fellows | Alumni @Fulbrightprgrm | Current @FBR
Islamabad, PK
Joined May 2011
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I just graduated with my PhD (Economics) & can certify tht it was my advisor, Elliott Isaac, who ensured tht I come out the other end not just with my doctorate, an excellent research pipeline, a good career trajectory but most importantly, with my mental health intact. A thread:
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Suzuki swift at 4.4 million, Honda city at 4.8 million and Civic at ~ 8.1 million. The end is near!!!
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Super tax was originally levied in 2015 under section 4B of the Income Tax Ordinance, 2001, to generate Rs. 24 billion in extra revenue, through Finance Bill (2015-2016); back then for the rehabilitation of temporarily displaced persons ( a thread)
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Passed my
#econ
comps during this damned pandemic. It is something i will be proud of my entire life
#AcademicChatter
#EconTwitter
#phdchat
#phdstudent
i wish i could tag all my amazing professors,
@ProfPButton
🙏 thank you
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Asked
#ChatGPT
to draft an email to my boss by making up a hilarious reason as to why I cannot attend office on Thursday. Make the email sound like it was written in the 1800s. Make it sound funny. It did not disappoint:
Email in thread
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#ChatGPT
: we asked it to generate a 500 word literature review on juvenile crime with sources cited in APA - and it did. A free online plagiarism detector found zero (ZERO) plagiarism.
•
This is scary for future academic.
One solution is
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This year so far, I taught my first class, had my first TA experience, won my first res. grant, applied to my first conference, got my PhD candidacy, and my job market paper is on track with two working papers in the pipeline!
#AcademicTwitter
#AcademicChatter
#EconTwitter
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Corporations are not charged a direct tax rate of 29% on their profits, in fact, they claim several deductions, tax credits, accelerated depreciation and brought-forward losses, bringing the effective tax rate on corporations to as low as 16-19%.
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When faced with an economic crisis, developing & developed nations have two options: raise taxes or lower spending & sometimes critical needs demand both measures to be adopted in unison. During recessions, even in US, it hasn’t been uncommon for states to raise taxes by 5%.
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#codechella
was so amazinggg - and extremely helpful - especially for a newbie like myself. The recordings are available on Twitch/Youtube (later) there is another session next week. Highly recommend it
#EconTwitter
thank you so much
@causalinf
🙌
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The PSX is up by nearly 1000 points - and dollar down to $229! What goes?
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Just like the existence of Super Tax, generating additional monetary flows for critical needs isn’t new for Pakistan either as we saw with the introduction of the Dam Fund, which was set up in July of 2018 to collect funds for the Diamer-Bhasha and Mohmand dams.
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The statement that with the levy of the “new” super tax, corporate income tax will go up to ~40-50% is factually incorrect because while Super Tax will be paid in addition to normal taxes, the effective tax rate for corporations is much lower.
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At the time it was levied on rich individuals, AOPs and companies earning an income above Rs. 500 million at the rate of 4% on banking companies and 3% on other categories.
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Should I get a
#kindle
?? Please tell me
@AcademicChatter
@econotw
#EconTwitter
and people in general. Help me decide please.
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@nihal_farid
The fact that paid-for restrooms at Bhera (havent stopped at other rest areas) are significantly better goes to show what we already know - lack of resources. At Rs. 50 person, those restrooms are very well maintained, clean, with working hand driers and diaper stations
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In 2021, the Act was again amended – retaining section 4B that levied the Super Tax - to state that the rate of 4% on banking companies will continue for an indefinite amount of time.
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@mobeen_hameed
One easy way to check the trends would be to select top 10 companies (or however many you can tackle), download their financials and compare values and trends over the last ten years. You will find more astonishing trends. Use the tax directory for info. on taxes paid.
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#EconTwitter
: easiest way to import a 147 MB xlsx file into Stata?
- set xlsxlargefile on
- import xlsx
Shud that work? Im afraid STATA might crash. Any help appreciated!
@AsjadNaqvi
@bashar_econ
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From preparing for and passing my comps during the first quarantine of COVID in 2020 to successfully defending my prospectus today - finally a PhD Economics Candidate!!!!
#EconTwitter
#AcademicChatter
#phdvoice
#phdchat
#AcademicTwitter
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In 2018, the Act was amended, Super Tax remained part of the ordinance, and while the rate of 4% on Banking companies was to stay constant till 2021, the rate of 3% was taken down to 3% for 2018, 2% for 2019 and 0% for 2020 and 2021.
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Having said that, Super tax has been in the Ordinance since 2015 and it is not an uncommon measure to be adopted on a short-term basis to generate more tax revenue from the top earners within the country thus the decision to tax income beyond 150 million.
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New Metro City declared illegal by RDA!
Raised Rs. 31B with no land acquisition yet!!
Well thats an eyeopener! It is such an annoying advert. My ears bleed at the sound of “gojar khan” and I cannot believe its Zia Mohyeddin.
For the past few months, a lavish marketing campaign has been run by New Metro City Gujar Khan - an up and coming real estate project run by Bilal Malik who is the grandson of Malik Riaz. The problem? The RDA has declared that the project is illegal and unapproved. {THREAD}
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I hope many can relate to the experiences I have shared and I hope many more can in the future.
Green flags in a PhD Advisor
#PhDone
#phdchat
#econtwitter
#AcademicChatter
#AcademicHelp
#phdlife
Reshare for others if you liked it.
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To fellow PhD students: does your office space clutter or lack there of affect your productivity?
Share your office space photos please I’m looking for inspo!!!
#AcademicTwitter
#AcademicChatter
#econtwitter
#phdvoice
#phdlife
#phdchat
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Fav. quote from
#scoop
:
“print is so stuck up - who reads a newspaper to become a responsible citizen? Its entertainment - atleast TV gets it”
Raw! Crime drama at its best.
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First off, given that he is not on socials, here is his website:
You can view his amazing profile and excellent research via this link.
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Blackouts are not unheard of, these things happen- happened to me in the US!!
Take it as a chance to disconnect, spend quality time with those u love, sing songs, ditch the politics of it - take a break!
#poweroutage
#blackout
#Pakistanpoweroutage
#PakistanBlackout
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Today a frnd from Lhr said when their cell finally died, they realized there is no clock around to tell time.
We have come a long way from cuckoo clocks.
Felt happy tht I brought my Sunday Bazaar purchase (Landa bazaar Islamabad) with me to the US.
Pictured here - Rs. 850
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Elliott not only understood but taught me how to understand these feelings,deal with them & proceed despite them, using his own journey as an eg. He helped me navigate professionally, & when needed,was willing to intervene & alleviate the challenges tht seemed overwhelming (2/3)
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Both local and Overseas Pakistanis should donate to the flood relief campaign they trust - but it is not the time to wait and see! Choose and donate NOW! The time is now!
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None of what I said is an exaggeration - it's anything but that! It sounds too good to be true but is only evidence that such advisors exist, and every PhD student deserves them. That he is an excellent economist is just bonus! I continue to work with him now as a co-author.
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This is a great thread and I would like to add to this based on what my experience was. I had the 5 lb Manhattan prep book - my pride and joy - Vocab flash cards, and Ets books and a bunch of other material however, it did not help. What helped was (thread)
Many people are scared of GRE & wouldn’t apply to any program that requires it. This limits opportunities. I used to feel the same way, so I’ll share my GRE study plan here, hoping it helps.
First, clarify two things:
- It’s easier than you think
- You don’t need a perfect score
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Looking for a strictly non-partisan analysis of the addition of the khatam-e-nabuwat clause to the Nikkahnama. Both sides of the argument please because I have seen part of the uproar! Looking to educate myself!
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10. His gentle demeanor, and kind but effective communication skills ensured that I was never reluctant to reach out to him with my problems. I told him that I was never once intimidated walking up to his door & in my opinion, that is as good as it gets.
#PhDone
#econtwitter
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3. Research can be an isolating process but I think I fared well bc I was able to communicate any hurdles I faced with Elliott, & he helped me navigate the complexities of my dissertation no matter how many meetings it required. Be it conferences, writing, grants, presentations!
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2. Academic writing is a whole other ball game and despite how good you maybe with English as a language, learning to write well academically is challenging. Here too, Elliott’s patience and counsel was exemplary, allowing me to learn efficiently and write effectively!
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Elliott was unrelenting in his support throughout my PhD journey, not just academically, but emotionally as well. Every PhD student inevitably battles with intimidation, self-doubt, imposter syndrome, amongst other psychological ailments. (1/3)
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First time TA, teaching/grading/mentoring as an international student in the US and TA evals due tomorrow! Bit anxious, ngl!!
#AcademicTwitter
#AcademicChatter
#EconTwitter
#PhdChat
#phdvoice
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5. Soft nudges towards overall improvement as an economist; not just in writing, coding, & developing ideas, bt in smaller tasks like organizing research folders. Elliott demonstrated efficient ways of conducting research, firmly believing in my ability & willingness to improve.
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@Napoha_
IMF program close to execution but predominantly the markets caused todays change - with refe to
@KhurramHusain
@khuwaar
- Exporters closed their open $ positions, oil LCs cleared.
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I will try to summarize his contributions to my amazing PhD experience and his interventions to make bearable the not-so-amazing-parts of my PhD journey through the following ten points.
#econtwitter
These are the green flags you should look for when selecting your PhD advisor:
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@riz1janjua
@worqas
If you read my thread all the way to the end, you will see the real reason our business community is reacting so harshly. They understand it and any drop in growth would be to generate pressure on the govt. to retract the measure. Happened with tobacco taxes before
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7. In all my years in academia, I think I have never come across anyone who is so thorough in the feedback they provide. It was an aspect of our advisor-advisee relationship that was paramount to my success, and one that I relied upon time and time again.
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This breaks my heart into a million pieces. There must be something we can do!!!! mulk k ashrafaya need to come forward ya woh sirf batioun walay jalsoun mein he asakte hain?
Between queues, a middle-aged man collapses due to exhaustion. He is still clutching two bars of soap and a packet of masala. He has been in line for more than an hour, accompanied by his daughter. The minute he regains consciousness, he asks his daughter if it is their turn yet.
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4. He instilled in me a pursuit of excellence in a way that did not intimidate me which was one of his most outstanding contributions as my dissertation chair. It never felt like I was treading along a steep learning curve Bec his patient advice preceded every step along the way.
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Had an incredible session with Economics Nobel laureate, David Card - I think the quote I LOL’d at and will always remember is going to be “As economists, we love treatments that not every body got” -
#EconTwitter
What an incredible human being and a generous scholar!
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8. He was genuinely concerned for my grwth as an independent economist & ensured I learnt how to become one along my PhD journey. I rem. our last meeting before my defense when he advised “You are an independent researcher; demonstrate that you know what you are talking about”.
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We don’t have to raise tax “rates” lump sum - but we certainly need to raise tax “revenues” through broadening of the tax base and ensuring horizontal and vertical equity. ⬆️ in effective tax rates through cancellation of exemptions & tax benefits to the elite is mandatory.
Disagree with Miftah Ismail. We dont HAVE to raise taxes n prices to 'obey' IMF. Deficit can be reduced via expenditure cuts. Urgently need 20% cut in civil n non-combat defence expenditure. Burden can no longer be placed on the people's shoulders.
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@riz1janjua
@worqas
Im shamelessly retweeting myself in posts where the audience is relevant - and there is nothing wrong with retweeting non-propaganda items based on facts. And to your question: real growth? no! Not so much!
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Judging poverty by how many are in a 5 star hotel?????
Sir 1.6 million employed people in Pakistan lived UNDER $1.90 purchasing power parity a day in 2022
Thats 2.4% of the total employed population of ~67.25M
Went to a 5 star hotel for family dinner. Couldn’t find a place in any restaurant. Checked price at one of the restaurants. Was shocked to find that Buffet was Rs 5000 per head. Fully packed and several people were waiting. None of them was elite. Are we a poor country!
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Im a big fan of “Breaking Bad” but have been sitting on the decision to start “Better Call Saul” !!!
Should I?
I am a crime/drama/thriller person through n through!
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Dont raise your children to be so averse to different people, that when they go out into the world and see different people living normal lives, they lose their own identity along with their faith in you!
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Today I encountered a very interesting question:
Is economics taught differently in societies that aren’t capitalist?
This is from someone trying to figure out where they would like to go for a PhD in Economics.
I am so intrigued. Is it??
#EconTwitter
#AcademicChatter
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My long-distance relationship with Eid!
•
Since I moved here to the US, people often ask me, what are pros and cons of moving abroad. So ill tell you the biggest con yet:
(thread)
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@PIDEpk
@nadeemhaque
@durre_nayab_
I frequented National Library Islamabad for exam prep and truly, nothing compares to a library! It isnt just about access to academic resources - it is like an office space for academics and students alike & access to a library is incomparable in terms of community building
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Pakistan (Jan. 22) & India (Feb. 23): Fiscal policy comparison. Sharing just the preface here - actual policy documents are available online. You guys be the judge.
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@causalinf
Cannot tell you how much I can relate as a second year PhD Econ student. I went through everything you just mentioned and then some. And yes Macro demanded my all and yes prelims were a nightmare and yes, yes - I do get goosebumps during applied courses now!
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Today’s motivation to workout is brought to you by this trail blazing episode on
@ThePakistanExp1
perfect companion!!!
Dr. Miftah Ismail comes on The Pakistan Experience for a detailed, and a refreshingly honest, conversation on the Pakistani Economy, Politics and the fundamental issues plaguing our country.
Full podcast with
@MiftahIsmail
out now:
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And here is another.
#AcademicTwitter
@thephdstory
30 things I wish I could go back and say to my first-year PhD self.
Basic PhD survival skills that I learned after the fact.
#AcademicTwitter
#phdchat
#AcademicTwitter
#research
#gradschool
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9. Before I left, I asked him how I will navigate a full-time job while working on multiple research projects and trying to publish. His advice was simple, and one that has stood the test to time. He said, “It depends; how bad do you want it?” (2/2)
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6. From the day he became my dissertation chair until the day I walked for my doctorate, Elliott was available for meetings whenever I needed them. This was in addition to our regularly scheduled meetings and research group meetings arranged for his advisees.
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If you are starting your
#twitter
twitter journey - this is for you!!
@kyra_ricci
Welcome!
tweet
reply to others
share opinions
share useful resources you may find
share your experiences
follow people you're interested in
celebrate everyone's wins
block/mute if needed
curate your feed
show kindness and support
be as loud as you want, this is your space!
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It may sound small, but this support allowed me the mental respite I needed to continue with my PhD. (3/3)
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“Imposition of additional tax at the rate not exceeding 50% on income profit and gains of a person or class of persons on account of extraordinary gains due to exogenous factors”
It will be interesting to see how this proposed revenue measure will be defined in the act!
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9.I have had detailed discussions with him about my career trajectory, and despite me having a non-so-usual journey post-PhD, he continues his immense support – pointing towards avenues and opportunities, everything to ensure I get where I want to be. (1/2)
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Is there such a thing as feeling proud of your first ever 10-line graph command in
#STATA
with nested scatter plots that combine to form one scatterplot separately with categories distinguishable by color and that has a line of fit?
#EconTwitter
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I applaud all those who so vehemently and unashamedly disseminate misinformation & abuse their influence.
The “offer” is:
Pakistan will get $50 million upfront price within 45 working days;Karachi Port Trust will get about $23M/year at projected sea cargo traffic (1/3)
Entire Karachi Port leased to Abu Dhabi for 50 years for $50 million dollars. And $18 dollars per container.
Yes. 50 years for $50 million only.
ہفتہ وار سیل جاری ہے۔
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Have you ever been intimidated by real datasets 2 da point where it takes u weeks to even start cleaning them? Looking for some motivation & will to get over agonising procrastination at starting a new project ugh!
@AcademicChatter
@PhDVoice
@firstphdchat
#EconTwitter
#phdlife
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@zeeshanashk
Thats a long term outlook! In the absence of these measures - we wouldnt even have an economy some foreign power would invest it. We are hanging by a thread!
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We really need to stop propagating this dhakianoosi narrative whereby we define and judge a woman on her choice to clothing!
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By Dr.
@hamidateeq
“Had we had to fight for our own survival, without the opium of this international aid, perhaps, today we would not have been a nation always waiting for help, ever eager for loans and unacquainted with industry and craftsmanship.”
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This is a great thread and I would like to add to this based on what my experience was. I had the 5 lb Manhattan prep book - my pride and joy - Vocab flash cards, and Ets books and a bunch of other material however, it did not help. What helped was (thread)
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@aomair
@kaiserbengali
Tax forms, by construction, cannot be simplified beyond a certain extent. Also, it is reasonable to note that FBR is semi-autonomous and thus policy measures are not designed by the Board alone.
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This is precisely the kind of joke politics and governance is to our people in power. For shame!!!
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We will speak so loudly that even the deaf will hear.
We will write so clearly that even the blind will read.
You write ‘black lotus’;
We will write ‘red rose’.
You write ‘injustice’ on the earth;
We will write ‘revolution’ in the sky- Amir Aziz
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🤓
The reason economics is harder than physics is that the atoms we study actually think. (I wish I remembered who I heard this from!)
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I wonder why our media considers it their responsibility to highlight every stain on this homeland as negatively as possible & to what end?
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Oh this is a brilliant thread! Amazing podcasts all in one!! The one with
@aikhwaja
is my fav.
@Shehzad89
it would be cute to name your episodes like Friends episodes: The one with/which … 😌
10 life lessons I learnt doing podcasts all through 2022. Instead of New Year Resolutions, I will try to embody these principles in my life next year.
🧵
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Answer this: “Why is there no similarly derogatory label for the men who come to us and use us?” This question is the one reason I highly recommend
#Gangubai
to people. Demand determines supply but the zillat for just one side of the equation? Why? Brilliantly put
@FawadHazan
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Student evals coming in! I think its not too bad for my first time. I was TA for two classes, Intro to Micro and Macro: graded all assignments, midterm, & taught - thats all I was evaluated for
•
#academia
#AcademicChatter
#EconTwitter
#AcademicTwitter
First time TA, teaching/grading/mentoring as an international student in the US and TA evals due tomorrow! Bit anxious, ngl!!
#AcademicTwitter
#AcademicChatter
#EconTwitter
#PhdChat
#phdvoice
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@uwjshew
Internationally, car demand is elastic. So demand will not stay the same at these exorbitant prices. Once demand goes down prices will start to come down; but current trends r nt a great indicator tht pk’s car demand is slowing down despite close to zero inventory at dealers
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@haq_optimist
1. 10% will be a straight deduction if the law remains as was before. And thats the whole point.
2. Yes. Tax refunds are not automatically paid. There is an exhaustive process in place!
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Sending some positivity out there for those who need it! Slow and steady! My biggest supporter has been my advisor and next my dissertation committee.
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Subject: My Abject Apologies for Thursday's Absence
Dearest Boss,
I do hope this missive finds you in the pink of health and high spirits. It is with the utmost trepidation and regret that I must inform you of my inability to attend the office on Thursday next.
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for
#ChatGPT
makers to create an online repository for every output generated so that it can be check for plagiarism or this would be a big big mess - as others have already stated.
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Well it took me almost the same amount of time to figure out the difference between the two. Joking. But almost the same amount of time. I can relate to this so much.
Holy smokes it took *ME* 45 minutes to figure out why a student's file path to their working directory folder wasn't working and it was because it was named "stats lab 1 " and not "stats lab 1"
At least a very nice introduction to self-loathing while programming in R.
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