I never knew how this subject turned from being my greatest fear to being the most important subject in my whole academic life. I’m a commerce student let me tell you that first so that you can understand why I was scared of this subject before. Back in high school, the subject was just theory. We mugged up theories and dumped them in the paper. A similar trend followed when I was in undergrad. We studied economics just for the sake of passing the paper. But I never understood how could I apply these theories in real life. When we were in school we always had this rebellious attitude that made us ask the question how can we apply these theories in real life or will it ever be useful to us?
But back then I didn’t know that I would be in a B-school. Studying economics here was different. We didn’t just study economics we applied it. And boy oh! Boy, we applied it everywhere. From restaurants to big business houses to even on ourselves. We didn’t realise that economics could be applied in such ways.
But don’t think that’s the only way we applied economics. After my mid-term exam in my 1st trimester, my economics teacher introduced us to a thing called Simulation. To be honest it is one of the best ways to understand economics. I wonder why didn’t our school and undergrad colleges teach us economics in this way. Every week playing the simulation has made my understanding of economic theories even better. It has made my understanding of the market even stronger. We just don’t study economics anymore; we apply economics in every possible way. In my MBA life, I was able to turn my greatest fear into my biggest year. Maybe that’s why MBA’s are in such high demand.
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