It's nearly 2 AM and am unable to sleep even after rolling around in the bed for 30 mins, maybe the three hours sleep this afternoon could be one of the reasons. Thinking of what to do, I decide to blog. And to blog about what?? Recently I've tried to think of something to blog about but I seem to have lost my sense of thinking (Thanks to the B-School training), and then I decided that I should not log out without writing a post and publishing it. So here I am sharing about my Economic status.
The recent past I learnt that to become a B-Grad you must definitely know your basics in Economics, how markets work, what makes people buy, their income levels, how the growth will be in the future etc etc., and the best part learning economics is that you can see how it goes with you. This is what I could think of while hearing the common economic terms that am hearing recently in accordance with me.
1. Unemployment :
I had to ask help from the spell check even to spell out this word, thus has been my relationship with unemployment in the past. Never known about it since I joined my MBA right after my Under Graduation and also when completing that I had a job at my discretion but recently I feel as if I will be having a good relationship with it soon :P and we'll see what fate has for me in the cards. Before I joined here I was in the Voluntary unemployment category, and when I complete my MBA I don't know if I will be in the Structural unemployment segment, and I hope after I get my job and wish to change I don't do stupid mistakes and end up in the Frictional unemployment segment.
2. Types of Money:
The major confusion we had when discussing for the exams was this topic, with regards to the Indian economy. The American type of illustration is what is given at most places so we had to find about it separately for the Indian context. Here I will say about the types of money that I possess :
M0: Currency in circulation:
Obviously in the case of a college student and that too one without a prior job savings this is the hardest part in college life :P. The currency in circulation or the liquid money that I posses is high during the beginning of the month and reaches to the minimum balance to be maintained in case of contingencies a few hours later after paying my bills and debts to my friends. And after that I go around raising my debts for that current month.
M1: M0+ Demand deposits:
M1 AKA Narrow money is narrower in my case and in many circumstances it will be the minimum balance to be maintained in the account, and this money is sparred because my debit card doesn't allow me to draw money after the minimum balance has been "achieved". I bet I will soon find a way to utilize this money too.
M2,M3,M4:
With me M2 M3 M4 are all types of money only in economics classes and I got nothing to do with it in real life. I will soon update this status provided the hypotheses I provide with unemployment stays true. :)
3. Inflation:
My experience with inflation started after I reached hostel for doing my MBA, before which I was in my home and there were fewer limits for my dispensable "income" from my father (which is known in many homes around TN as thendasoru) but once I reached the hostel I had to restrict my expense to the surplus I have after paying my monthly bills, and that remains to be very minimal just enough to fill my bike's thirst.. (damn my bike is one hell of a thirsty one). The pens and pencils which are mandatory for exams are nearly double the price of my last known knowledge, and I also object now for the raise in prices of various commodities that I once supported from my home sitting in front of Television justifying it by the statement "How are the politicians supposed to support the nation without having sufficient money?" , now I realize what would have the feeling of millions of households who are supposed to support an entire family with an amount which I cannot support myself here.
With these few terms Economics does not end, but as far as my learning it is these and an few other terms that we dream of as a common man to survive and believe in people we elect that they will provide required help for us to achieve these dreams.The world may spin on it's own but the people who live within that spin and run around with these dreams of economics.
The recent past I learnt that to become a B-Grad you must definitely know your basics in Economics, how markets work, what makes people buy, their income levels, how the growth will be in the future etc etc., and the best part learning economics is that you can see how it goes with you. This is what I could think of while hearing the common economic terms that am hearing recently in accordance with me.
1. Unemployment :
I had to ask help from the spell check even to spell out this word, thus has been my relationship with unemployment in the past. Never known about it since I joined my MBA right after my Under Graduation and also when completing that I had a job at my discretion but recently I feel as if I will be having a good relationship with it soon :P and we'll see what fate has for me in the cards. Before I joined here I was in the Voluntary unemployment category, and when I complete my MBA I don't know if I will be in the Structural unemployment segment, and I hope after I get my job and wish to change I don't do stupid mistakes and end up in the Frictional unemployment segment.2. Types of Money:
The major confusion we had when discussing for the exams was this topic, with regards to the Indian economy. The American type of illustration is what is given at most places so we had to find about it separately for the Indian context. Here I will say about the types of money that I possess :
M0: Currency in circulation:
Obviously in the case of a college student and that too one without a prior job savings this is the hardest part in college life :P. The currency in circulation or the liquid money that I posses is high during the beginning of the month and reaches to the minimum balance to be maintained in case of contingencies a few hours later after paying my bills and debts to my friends. And after that I go around raising my debts for that current month.
M1: M0+ Demand deposits:
M1 AKA Narrow money is narrower in my case and in many circumstances it will be the minimum balance to be maintained in the account, and this money is sparred because my debit card doesn't allow me to draw money after the minimum balance has been "achieved". I bet I will soon find a way to utilize this money too.
M2,M3,M4:
With me M2 M3 M4 are all types of money only in economics classes and I got nothing to do with it in real life. I will soon update this status provided the hypotheses I provide with unemployment stays true. :)
3. Inflation:
My experience with inflation started after I reached hostel for doing my MBA, before which I was in my home and there were fewer limits for my dispensable "income" from my father (which is known in many homes around TN as thendasoru) but once I reached the hostel I had to restrict my expense to the surplus I have after paying my monthly bills, and that remains to be very minimal just enough to fill my bike's thirst.. (damn my bike is one hell of a thirsty one). The pens and pencils which are mandatory for exams are nearly double the price of my last known knowledge, and I also object now for the raise in prices of various commodities that I once supported from my home sitting in front of Television justifying it by the statement "How are the politicians supposed to support the nation without having sufficient money?" , now I realize what would have the feeling of millions of households who are supposed to support an entire family with an amount which I cannot support myself here.
With these few terms Economics does not end, but as far as my learning it is these and an few other terms that we dream of as a common man to survive and believe in people we elect that they will provide required help for us to achieve these dreams.The world may spin on it's own but the people who live within that spin and run around with these dreams of economics.
The same situation here !!
ReplyDeleteWonderful idea - relating types of money in the economy to our wallets :-)