Wikipedia says that, "Economics is the social science that analyses the production, distribution and consumption of goods and services", and so does every other online dictionary and information portal.
So how would a non-commerce, non-economist someone like me or may be you understand the depth of such hefty definitions ?
Well keeping in mind the answer to the aforesaid question, a pellucid and colloquial approach will be followed while writing up the posts on this blog.
So in layman terms, Economics can well be understood as the science of earning, buying & selling of different things. It's the "different things" on a micro level and a macro level that have made economics the mainstay of today's household and the world economy.
Daily news updates about the markets going up, going down, prices rising, defaults occurring...blah blah blah...can well be understood by the people who already have at some point of their lives gone through the fundas of economics, or perhaps are into the working industry for quite some time. But what about the faction with the phobia of economics, or may be the ones who want to dig deep into the understanding of the global economy but somehow can't find the right way to begin.
Well this blog is finally the panacea for all those people who want a simple-term, interactive and interesting understanding of this sombre science that makes the world go round and round. I'll be beginning with basics and slowly and steadily we'll reach a stage where even a primary school kid would be able to understand the news broadcast by the different economics giants, be it print media or the visual media.
But before I begin, I feel the urge to introduce myself. Don't confuse me with someone who has done a major in economics or perhaps someone who has done a vast study of this science since the beginning of time.
In-fact I'm a 3rd year engineering student from New Delhi, who has developed a strong penchant for economics ever since I read my first economics article that explained the 'Global Recession of 2008'.
That article made me think and delve into the xyz's of the world economy, and finally, here I am, writing about & explaining the THE DISMAL SCIENCE.
So how would a non-commerce, non-economist someone like me or may be you understand the depth of such hefty definitions ?
Well keeping in mind the answer to the aforesaid question, a pellucid and colloquial approach will be followed while writing up the posts on this blog.
So in layman terms, Economics can well be understood as the science of earning, buying & selling of different things. It's the "different things" on a micro level and a macro level that have made economics the mainstay of today's household and the world economy.
Daily news updates about the markets going up, going down, prices rising, defaults occurring...blah blah blah...can well be understood by the people who already have at some point of their lives gone through the fundas of economics, or perhaps are into the working industry for quite some time. But what about the faction with the phobia of economics, or may be the ones who want to dig deep into the understanding of the global economy but somehow can't find the right way to begin.
Well this blog is finally the panacea for all those people who want a simple-term, interactive and interesting understanding of this sombre science that makes the world go round and round. I'll be beginning with basics and slowly and steadily we'll reach a stage where even a primary school kid would be able to understand the news broadcast by the different economics giants, be it print media or the visual media.
But before I begin, I feel the urge to introduce myself. Don't confuse me with someone who has done a major in economics or perhaps someone who has done a vast study of this science since the beginning of time.
In-fact I'm a 3rd year engineering student from New Delhi, who has developed a strong penchant for economics ever since I read my first economics article that explained the 'Global Recession of 2008'.
That article made me think and delve into the xyz's of the world economy, and finally, here I am, writing about & explaining the THE DISMAL SCIENCE.
