Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.
Economics seems to be a hard subject but what I feel is that it is way more interesting and fun. It deals with all the economic strategies which is very important in one’s other way. Now the question that arises is ‘why is economics important?’. I feel that economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.
Learning outcomes achieved:
LO1 Identify own strengths and develop areas for growth:
When it comes to economics I felt that economics is only related with money. But after joining this club I felt that there is much more in economics. I found out that I became more and more curious about knowing new economic terms and relations which I feel has become my strength of knowing new things curiously.
LO2 Demonstrate that challenges have been undertaken, developing new skills in the process:
I am very afraid of public speaking. I start fumbling when I see many people in front of me and listening to me. But this club has helped me with it, as I am able to express my views and opinions on the topics in which I am interested. And also this is the first club of my life which makes it more interesting for me.
LO5 Demonstrate the skills and recognize the benefits of working collaboratively:
Mostly there are debates organized in the club which makes us work in teams. So it helps us to divide our work so that it functions smoothly. I feel that teamwork promotes strong working relationships and it is great for organization.
LO6 Demonstrate engagement with issues of global significance:
We can see the importance of the global economy by looking at it in relation to emerging markets. Economic importance at a micro and macro level is at a great importance these days. The increase in the world’s population has led to emerging markets growing economically, making them one of the primary engines of world economic growth. The growth and resilience shown by emerging markets is a good sign for the world economy. Many of the economic global issues are discussed in the club which makes me aware of how the economic structure works in the real world.
LO7 Recognize and consider the ethics of choices and actions:
Inequalities and poverty at a national and international level, exploitation, greed and corruption seemed to me all very real issues that needed to be crucially and urgently tackled, and economics was clearly the subject to learn and master in order to do so.
I has=d made a doc for a debate which was held in the club. The topic of the debate was “Free market economies are more efficient than command economies”
The link for the doc is: file:///Users/air/Downloads/Economic%20club%201.pdf