As an individual everyone including me are an economist indirectly. When we give a demand or when we avoid a product, it actually impacts the company. We being the society have a great power of the market.
The Economic first class, I really believed that I can get through this subject very easily. As days passed on I came to know that, a PGDM level economics is something different. Now if I see my graph of concepts of economics has increased vastly. In spite of being many concepts the base on which the whole economics moves around is DEMAND and SUPPLY. All the other concepts are an improvised version of these two. The concepts which i really liked in this short span of time was, IRTS, INDIFFERENCE CURVE, UTILITY and ELASTICITY. I would say once after the midterm is completed, I really understood how badly i have understand the concepts and I also realised that i read it for marks and not for knowledge. The basic ideology how a company works on its price, customers, how does a small change in the product creates great impact in the demand for it and so on were some interesting learnings from this course
Moving on to the simulation game, it really thought me how does a firm sustains in a market, how good predictions has to be made, the most important learnings from the simulation game was there is a great difference between an ANALYST and an BUSINESS man. The differentiating factor is taking risk..
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