DEPARTMENT OF ECONOMICS

DEPARTMENT OF ECONOMICS

Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life”- Tyler Cowen. The history of economic deals with different thinkers and theories in the subject that become political economy and economics, from the ancient world to the present day. The English term ‘economics’ is derived from the Greek word ‘oikonomia’. Its meaning is ‘household management’. Economics was first read in ancient Greece. Aristotle, the Greek philosopher termed economics as a science of ‘household management’.

Economics deals with the study of connecting the resources around us to productive use. Resources can be human or other living and non-living things in the environment. Economics is a vast area of study that explains how economics interact and work. The subject focuses on all spheres of life irrespective of business and finance. Economics is a wide area of study and graduates in economics can get employment in a variety of jobs in various sectors. We are inculcating the habit of reading the newspaper in the class to equip the students with the knowledge of state, national and international affairs. Explaining the concepts of economics, by giving real life examples. Giving projects and conducting seminars on current topics related to the subject. Discussing the economic problems like inflation, poverty, unemployment and how it affects the day to day life.