IIMA - Day to Day Economics  (English, Paperback, Deodhar Satish Y)

Day To Day Economics is a book that aims to explain the subject of economics in simple terms for the benefit the common man.

Summary Of The Book

This book, Day to Day Economics, explains all the concepts and rules of economics to the readers in a way that is easy for them to understand. It is a useful book for those who have no previous knowledge of basic economic principles.

The vagaries in a country’s economy affect the earning power of the common man, their spending power, the prices of goods, the employment conditions, the business conditions and so much more. Yet, not many people really understand the factors that drive a country’s economy. Day to Day Economics starts with an introductory chapter that provides a bird’s eye view of everything the book covers.

The first chapter explains economic institutions, the different functions of the government and private sectors, the need to delineate which spheres one shall control and which spheres one shall be allowed to function in. The second chapter addresses government budgets and deficits and how it affects the common man. It explains the various aspects of the budget, taxation and budget deficits. The next chapter takes a look at stock markets and banks. It explains how fluctuations in the stock market affects the economy. It also goes into the functioning and governance of the banking industry.

The fourth chapter examines the concept of free trade and the role played by institutions like the World Trade Organization. The next chapter addresses a topic that will resonate the most with readers, the increasing prices of essential goods, the concept of inflation, the reason behind the rising price of food. The sixth chapter looks at various factors that affect an economy’s growth and recession. The seventh chapter looks at fiscal and monetary policies and explains why the economic growth of the country has been experiencing seems lopsided. The final chapter then brings it all together and summarizes the concepts and provides some final observations.

Day to Day Economics includes a number of illustrative examples and relevant case studies. It also contains a glossary of important economic terms and definitions at the end of every chapter.

This book is a concise and easy to follow introduction to economics. It helps the readers understand the fundamental principles on which a country's economy functions and the factors that affect the economy. The book can be used by professionals and students.

About Satish Y. Deodhar

Satish Y. Deodhar is a professor and a writer.

Other books written by him include Market Integration And Market Access For Agricultural Commodities In India, Strategic Food Quality Management: Analysis Of Issues And Policy Options, and India’s Apple Market: Prospects And Policies For Trade.

Satish Y. Deodhar is a professor of Economics at IIM Ahmedabad. He holds a BA from Gokhale Institute of Politics and Economics, and an MA and Ph.D from Ohio State University. He specializes in the study of food quality, imperfectly structured competitive markets, the functioning of the WTO, and agricultural trade. Deodhar has also done consultancy work for the Indian Government, the United States Department of Agriculture and also for Indian Bank. He currently heads the PGPX, a post graduate management course for executives.