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“Economists are trustees, not of civilisation but of the possibility of civilisation...” Economics, today, holds a special place in our lives. It encompasses a broad spectrum of sub disciplines constituting stock markets, commercial and investment banking, fiscal and monetary policies, international trade and, if we include corporate and personal finance, the scope of economics further expands.
Economics is relevant to each one of us in a direct or indirect way. A small policy change by Federal Bank in USA affects households, even in India . The broad understanding of economics and financial terms is also important to understand the dynamics of stock markets. |