WELCOME TO THE DEPARTMENT OF GENERAL ECONOMICS !!!
"Economics is concerned with efficient management of limited productive resources for the maximization of
satisfiction of human material wants".
Firstly, let us clarify, We have mentioned this definition only for the sake of completeness!! On a more serious
note though, we are aware that the articles & texts that are to follow, donot constitute a complete course
on Economics. Our goal here is simply to create a database of relevant concepts & topics from the field of Economy,
that could be used or referred to by readers to aid & further their understanding of everyday topics that
they are likely to encounter in their day to day lives.
Thus, our main thrust is to elaborate on simple concepts using practical examples that could be followed
by anyone with or without any background in this subject. Ofcourse, not all concepts would be clear by just
reading this text or understanding the examples. It is thus our sincere request to readers, that since most
of these topics & their applications could be found in daily newspapers and news discussions, their reading
of articles on this website, should be followed by taking a keen interest in articles and policy announcements
made in newspapers, magazines and ofcourse television news channels. Our past experience shows, that
a lot of the concepts we hope to cover, would become very clear to our readers who have no prior background
in this subject, just by reading these topics here and following relevant news items for a week or so. Prior reading
such as through this medium, just helps remove the un-familiarity factor!!!
Another point worth mentioning in this regard is that your feedback and contributions in discussion forums
is of utmost importance to us. It helps us in not just knowing about more topics we should cover, but
also make improvements to our articles not just at the level of presentation and readibility but also
at the conceptual level. We thus encourage our readers to point out any mistakes or corrections they feel
should be made, and we will try to rectify the same.
As a last note, we must mention that we are not and donot claim to be experts in the field of Economy. However,
over the years, our team has followed and read some good material on this subject, that has helped us improve
our own understanding of a lot of new concepts. We will try our best to provide you with good coverage of
these topics in as easy to follow manner as possible. However, no one can replace accomplished authors and
their books & articles on these subjects, and for the interested & as our way to show respect to the subject
experts, we will provide names of some good reference books and external links along with the articles.