SOMAIYANOMICS

BY GAYATRI CHOUDHARY We often think of economics as a subject full of theories, graphs, and numbers, but actually it is closely connected to our everyday life. Whenever we decide what to buy, where to spend money, or how much to save, we are using economic thinking. A simple example is when the price of food or petrol goes up. We may reduce our spending or look for cheaper alternatives. This is connected with demand, supply, and inflation. Businesses also depend on economics

As we all believe that in a perfect world, markets are supposed to be perfect ,where all buyers and sellers come together, price adjusts and everyone ends up happy. But in reality not every time markets can work as magic. Sometimes markets miss the mark. Economists called this a Market Failure and one of the biggest culprits behind this issue is something called an Externality. What is exactly an externality? Well in simple terms, an externality is a side effe ct of an action

By NEETI DARAPURKAR Money can't be only seen as coins and notes anymore as it's going through a digital overturn. On one side we have cryptocurrencies such as Bitcoin and Ethereum which are created privately and which are loved by the public. On the other hand the government also stepped up creating their own version of currency called Central Bank Digital Currencies (CBDCs) launched by the Reserve Bank of India (RBI). India's very own Digital Rupee. Both exist online, but

By Rishika Gohil In today’s fast-paced digital age, students are no longer limited to traditional part-time jobs to earn extra income....

By Neeti Daryapurkar We can’t have everything we want in life. Sometimes we have to choose between two things with a thought of what we...

By Neeti Daryapurkar What is Trade Wars ? They occur when countries impose tariffs or other trade barriers on each other in retaliation....

By Neeti Daeyapukar You may have heard about the word “ Tax Reforms ". But what are they? Tax Reforms are changes made to improve the...

By Neeti Daryapurkar In a dream world, policies would enhance both welfare and efficiency. But in reality the government faces issues...

By Rashi Paleja Have you ever considered that each time you go out with a friend, you make at least one economic transaction which creates a flow of money. Friendship may be a personal connection, however it helps the economy in many unexpected ways. While meeting up with friends we always tend to spend some money whether it's just a ₹15 ka cutting chai or a round of pani puri. Every time we spend money while we are out with our friends, we are in turn helping the local econ