Saturday, March 25, 2017

Day to Day Economics

This post is about the book "Day to Day Economics" written by Satish Y Deodhar. It is one of the business books published by IIM Ahmedabad. This explains some of the day to day macroeconomic and microeconomics activities very well, with very simple, sharp, and practical examples. 
One of the excerpt from this book explain the economics activities of government and private sector very well.The existence of pure public goods, natural monopolies, and externalities are clear cases of market failures. In such situations, the private sector either cannot provide goods and services profitably, or provides them with a disregard of social costs. Therefore government has legitimate reasons for undertaking the economic activities.
Similarly other chapters on Budget, Banking, Free trade, Inflation, Govt's monetary policy and Share market explain the key words of finance with clarity. Book not only goes beyond the facts and terminology but helps reader in understanding it in very enjoying way. This is highly recommended for people not having economics background.

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