From "scared of Economics" to "Simulation and Price Wars"

Economics was never my forte and I never imagined I either would be, at least until the time Micro-Economics came into my life in the first trimester of PGDM. 

I started the journey of 3 months with panicky feelings like "I know nothing about Economics" and "I'm scared of it." Well, to be honest, I was initially. But slowly when the concepts unfolded, I realized it is not that bad and to my utter surprise, there are so many things we do in our daily lives that can be associated to the Economic concepts.

The Fun Element!

What seemed scary in the beginning actually became fun by the end. We were eventually introduced to Competitive Strategy Games. It is a simulation game where players fought in different markets with competitors trying to sell their products while raging price wars. It simply raised the bars of the course!

Now, I can understand this lingo!

 Source: economicsmemes.com

The single most important learning!

It's true that Economics teaches us a lot of parables on how an economy works, but most importantly it teaches how our life works!  Everything has a cost, in other words, "there ain't no such thing as a free lunch.

And yes, people are rational. I don't mean that people have perfect judgements or can do computer-like calculations of pleasure and pain. What I mean is rationality is less demanding, and still helps us make sense of the world. People can think things through.

In a nutshell, it was an intriguing experience learning something new that could be of great help in everyday life. Thanks to Economics, you start seeing the world from a new perspective!