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The economy isn't just for the economics to debate on. All of us are affected by its ups and downs - global recession, rise in interest rates, or hike in food prices. But do we understand the principles at work and how and why they really affect us? Day to day economics is an enjoyable, accessible, and extremely user-friendly book that explains modern day Indian economy to The economy isn't just for the economics to debate on. All of us are affected by its ups and downs - global recession, rise in interest rates, or hike in food prices. But do we understand the principles at work and how and why they really affect us? Day to day economics is an enjoyable, accessible, and extremely user-friendly book that explains modern day Indian economy to the layperson. In this relevant book, Professor Deodhar explains the role of the government and its involvement in different aspects of the economy; the need for the RBI and its functions; and how taxes, stock markets and recession work. Day to Day Economics will help you go beyond the facts and figures in the budget and connect the trends to your daily life. As with all IIMA business books, it comes illustrated with numerous Indian examples and case studies making this the ultimate rookie's guide to the Indian economy.


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The economy isn't just for the economics to debate on. All of us are affected by its ups and downs - global recession, rise in interest rates, or hike in food prices. But do we understand the principles at work and how and why they really affect us? Day to day economics is an enjoyable, accessible, and extremely user-friendly book that explains modern day Indian economy to The economy isn't just for the economics to debate on. All of us are affected by its ups and downs - global recession, rise in interest rates, or hike in food prices. But do we understand the principles at work and how and why they really affect us? Day to day economics is an enjoyable, accessible, and extremely user-friendly book that explains modern day Indian economy to the layperson. In this relevant book, Professor Deodhar explains the role of the government and its involvement in different aspects of the economy; the need for the RBI and its functions; and how taxes, stock markets and recession work. Day to Day Economics will help you go beyond the facts and figures in the budget and connect the trends to your daily life. As with all IIMA business books, it comes illustrated with numerous Indian examples and case studies making this the ultimate rookie's guide to the Indian economy.

30 review for IIM Ahmedabad Business Books: Day to Day Economics

  1. 4 out of 5

    Kritika Swarup

    I have always tried to understand and develop interest in Economics. All such efforts though, had been futile. While I did understand some removed concepts, but this book provided a thread linking all the concepts I knew and did it with a seamless skill. The manner of explaining the concepts of inflation, economic growth, depression and position of India vis-a-vis the world is worded to make each statement pertinent and interesting. The author tries to remove the illusion of economics being a com I have always tried to understand and develop interest in Economics. All such efforts though, had been futile. While I did understand some removed concepts, but this book provided a thread linking all the concepts I knew and did it with a seamless skill. The manner of explaining the concepts of inflation, economic growth, depression and position of India vis-a-vis the world is worded to make each statement pertinent and interesting. The author tries to remove the illusion of economics being a complicated territory. While reading through the book one realises the repetition of some basic ideas like the reason behind US sub-prime crisis and position of India before and after liberalization. This seems like a deliberate attempt to ensure that a reader drives home the issues of major relevance. While discussing development of a country, author brings out the significance of different parameters to measure growth and presents a complete picture by drawing comparative performance of India with respect to its neighbours. It shows how the world works as a knitted unit where each nation aims at satisfying its personal well being. The effect of fiscal and monetary policies is discussed bringing out their key ideology and constraints. The idea of boom and bust in the economy and nature of unemployment is studied from the perspective of its degree of dependence upon external factors. While India fairs well in terms of GDP, its pitfalls in terms of low gender ratio, high infant mortality rates, inability to provide basic necessities of food and education to all, showcase how economic development may fail to impact the life of the masses. It reflects upon the inability to provide a favourable environment in sociological terms thus failing the idea behind high economic growth. The pitfalls of the present structure are presented with an outline of how the schemes have been developed to meet the social cause. Emphasis is placed on how a government measures the percolation of a policy through a society and tries to launch and implement effective policies. The author brings forth the effort, intent and results of policy changes and brings clarity and appreciation to the effort involved in the process of governance. I recommend this book to everyone who wishes to have an informed opinion over the policies in the country and around the world.

  2. 5 out of 5

    Mehernosh Sanjana

    Good book and very informative. The book is small and of only 211 pages(latest edition) but if you decide to take up reading this book you will have to give it a lot of time, you cannot read it like a novel and read 1 hour everyday. You will need to read slowly and understand the concepts and you will have to pay attention when you're reading because in some chapters the concepts are like a chain, if you do not understand the first link you'll have a hard time understanding the next one. I've re Good book and very informative. The book is small and of only 211 pages(latest edition) but if you decide to take up reading this book you will have to give it a lot of time, you cannot read it like a novel and read 1 hour everyday. You will need to read slowly and understand the concepts and you will have to pay attention when you're reading because in some chapters the concepts are like a chain, if you do not understand the first link you'll have a hard time understanding the next one. I've read this book mostly while travelling and I had not given my maximum attention so I will probably read it again. The book is a rookie's guide to Economics and mainly from a macro point of view, the author, Satish Y. Deodhar teaches Economics at the IIM-A. He had written this book to prove to others that Economics is not a "dismal science". The book gives you a basic idea about certain concepts that on a macro and micro level that you're unfamiliar with. Like CRR, Fiscal Deficit, Repo rate, etc. Good read.

  3. 5 out of 5

    Tatsuhiro Sato

    3.5 Stars A good book for starters in Economics, but it could be a little bit more in depth covering other central ideas and issues in economics that are required on day to day basis like on taxation etc. Could have been way more better considering the fact that it is IIM-A brand book.

  4. 4 out of 5

    Shivanshu Singh

    This book does a great job explaining the economic phenomena and terms that we encounter daily, albeit in its simplistic form. However, it does not present the full spectrum of various nuances of economic thought. To paraphrase the author, it is enough for us to assume that Earth's path around the sun is elliptical to explain the various celestial phenomena, this book should be understood in that context.

  5. 5 out of 5

    Bineydeep Singh

    They think that they can sell anything if they brand it with IIM/IIT in India. This book doesnt teach any major concept of economics.This book has nothing to do with day to day economics, there are no graphs no mathematical equations. I seriously doubt Professor Satish Deodhar accomplishments - not expected from IIM level professor. Any professor from a small town like Batala in Punjab can write such a trivial book. Really a shame ! Dont waste your money on buying / reading this shit - whatever They think that they can sell anything if they brand it with IIM/IIT in India. This book doesnt teach any major concept of economics.This book has nothing to do with day to day economics, there are no graphs no mathematical equations. I seriously doubt Professor Satish Deodhar accomplishments - not expected from IIM level professor. Any professor from a small town like Batala in Punjab can write such a trivial book. Really a shame ! Dont waste your money on buying / reading this shit - whatever knowledge / stories professor Satish has told in this book - if you open your ears, you can listen to these stories while travelling on Delhi metro - and while listening to common people talk !

  6. 4 out of 5

    Suraj

    This book is by far one of the best books on economics, that I've read and didn't have to re-read it for a better comprehenion. The book begins to explain about the possible consequences of private sector involvement in sectors such as electricity and Defence and Education. Why lighthouses are managed by the government and why the supply of potable water is managed by a PSU. It covers myriad topics be it Fiscal and Monetary Policy of the Indian government, reasons for bumps and sags in the GDP, wh This book is by far one of the best books on economics, that I've read and didn't have to re-read it for a better comprehenion. The book begins to explain about the possible consequences of private sector involvement in sectors such as electricity and Defence and Education. Why lighthouses are managed by the government and why the supply of potable water is managed by a PSU. It covers myriad topics be it Fiscal and Monetary Policy of the Indian government, reasons for bumps and sags in the GDP, whatis CRR, SLR, Repo and Reverse Repo rate (you already know it if you're from a finance/MBA background), how banks earn and why is it that we trust banks with our hard earned money. It also goes one step ahead to talk about why and how stock markets function and how the animal spirits of ours, can help in reducing the inflation prevalent by increasing the output. And these are just the headers. A worthy read for all those interested in the workings of the economy of a country.

  7. 4 out of 5

    Raghavendra

    Growing up, slowly we gain inquisitiveness around the functioning of the government and economy related to us. Every Feb, adults all around you stay glued to the TV. You try your best to follow it but the financial jargon thrown just hits you in the face. Fiscal deficit, repo rate and what not! You try to read the economic section of the paper and all that too is Greek and Latin! Nominal GDP growth rate, inflation etc.How we wish that someone would explain these terms from the very basics to us. Growing up, slowly we gain inquisitiveness around the functioning of the government and economy related to us. Every Feb, adults all around you stay glued to the TV. You try your best to follow it but the financial jargon thrown just hits you in the face. Fiscal deficit, repo rate and what not! You try to read the economic section of the paper and all that too is Greek and Latin! Nominal GDP growth rate, inflation etc.How we wish that someone would explain these terms from the very basics to us. Well,this book does exactly that! The author without sounding too academical anywhere has done an excellent job of explaining some deep concepts of economy like Nominal GDP,Repo rate, headline inflation on a language that is understandable even to a high school kid! Right from the first chapter where he explains the scope for government interference in market to the last chapter where in he explains why GDP growth rate is not a true reflection of the nation's growth without considering the human development indicators,one can grasp the concepts easily due to the various examples given and the author's way of explanation. If ever you wanted to know and understand about Indian economy, this book is for you.It gives you a strong basic understanding of Indian economy which one can build upon. As he rightly terms it, the book is a rookie's guide to Indian economy. It would also help one in their personal economic spehere of where and what to invest once they can get to understand the Repo rates, stocks and shares.Trust me, after reading this simple book you would be able to answer the question as to when does RBI increase or decrease the repo rate to banks? Or when does RBI increase or decrease the Cash reverse ratio or Statutory Liquidity ratio of Banks.Go for this book if you want to have an understanding of various economic concepts like GDP,stocks and shares, recession and the Indian economy.

  8. 5 out of 5

    Karthick

    This is another wonderful and informative book after Roopa Pai's - 'So you want to know about economics'. I would say its level 2 book on economics. You cannot omit even a single page. Terms, definition, explanation - everything you have. Author highlights a very important thing that is we all specialize in our own area of interest and profession like engineer, doctor, lawyer, teacher, manager etc. but irrespective of it, we rarely get time to focus on economics. I would say Economics is a mandato This is another wonderful and informative book after Roopa Pai's - 'So you want to know about economics'. I would say its level 2 book on economics. You cannot omit even a single page. Terms, definition, explanation - everything you have. Author highlights a very important thing that is we all specialize in our own area of interest and profession like engineer, doctor, lawyer, teacher, manager etc. but irrespective of it, we rarely get time to focus on economics. I would say Economics is a mandatory thing in our life and so we need to equip our self to understand, reflect and make informed decisions when we encounter many unforeseeable/unpredictable situations. Must read for an amatuer!

  9. 4 out of 5

    Nithesh

    A decent primer on basic economics. The writer does not bore the reader in an part of the book. Best summary in the author's own words would be, "Like Adi Shankaracharya's quick attempt to understand the life of a householder, reading this book can be your quick attempt to get up close and personal with economics."

  10. 4 out of 5

    Shreyas Divan

    A small, easy read for introducing basic macro terms, especially the ones you find popular during the annual Indian financial budget presentation period.

  11. 4 out of 5

    Kumar Anshul

    I have bought the entire boxset of IIM A books (A set of 5 books) and this was the first book that I picked up. The book is small (only 211 pages) but is an honest attempt towards making a layman understand the practical meaning of economics jargons and their relevance in current Indian scenario. Economics is largely been considered an esoteric as well as a prosaic subject. Add to it the multitude of expressions that are unique to this subject, and it almost becomes a topic that many people are w I have bought the entire boxset of IIM A books (A set of 5 books) and this was the first book that I picked up. The book is small (only 211 pages) but is an honest attempt towards making a layman understand the practical meaning of economics jargons and their relevance in current Indian scenario. Economics is largely been considered an esoteric as well as a prosaic subject. Add to it the multitude of expressions that are unique to this subject, and it almost becomes a topic that many people are wary of. This book will help you to understand the basic concepts of inflation, taxes (direct and indirect), depression, economic growth, unaimed opulence, growth and health indicators. The author also delves into the world of finance- stock market, WTO, financial liberalization post 1991, free trade et al and explains all these without making it dull. After reading this book, you will realize how our government plays an important role in regulating the economy (especially in the times of need, such as inflation and depression) through its various policies and interventions. There is a "Ready Reckoner" at the end of each chapter, which lists important definitions introduced in the chapter and is another feature that makes the book quite useful and user friendly. Strongly recommended to everyone, especially to the MBA Aspirants. Buy a copy for yourself from Amazon here- http://amzn.to/2dlPws9 For more reviews, follow my blog- https://thebooktrack.wordpress.com/

  12. 4 out of 5

    Parth Agrawal

    Imagine that you are going through any daily activity such as buying pulses in a store and trying to comprehend why is it more expensive than yesterday or wondering looking at the news headlines as to why the government is announcing welfare schemes or why an international organization is dictating what should be the global practices regarding agriculture and trade related activities, this is the book you need. The unique quality of this book is that it makes you feel as if economics is not an e Imagine that you are going through any daily activity such as buying pulses in a store and trying to comprehend why is it more expensive than yesterday or wondering looking at the news headlines as to why the government is announcing welfare schemes or why an international organization is dictating what should be the global practices regarding agriculture and trade related activities, this is the book you need. The unique quality of this book is that it makes you feel as if economics is not an esoteric subject, a very popular image that this subject commands, because of the examples and events in the backdrop of which the author has explained theories and terms.What i feel is that, a book can be informative but the information is useless if one is unable to derive an implication out of it. This is where this book is one of its kind as it makes you think and encourages you to playfully predict what can and cannot happen in future and what's happening at present. Though i want to cut myself short of prescribing this book as a must for any aspirant of any exam (except engineering related exams of-course!!), but it is a must for them. Relevance of the content, is what will keep this book unscathed through the test of times.:):)

  13. 4 out of 5

    Murali Dharan

    A good book to familiarize oneself with day to day terms used in Indian economy. But one has to research more on each topic to understand thoroughly.

  14. 4 out of 5

    Dhruv Sharma

    A good book to understand economics basics. The beginning of the book is awesome and first 50 pages will just make you stick to the book as the real life examples used by author to give examples of why things are like that simply amazing. The books gives us the knowledge of basic functions of government, Government budget and how it affects us, The knowledge about banks, fiscal policy, monetary policy. Written in the context of Indian economy, book provides details about what the terms GDP, FDI, C A good book to understand economics basics. The beginning of the book is awesome and first 50 pages will just make you stick to the book as the real life examples used by author to give examples of why things are like that simply amazing. The books gives us the knowledge of basic functions of government, Government budget and how it affects us, The knowledge about banks, fiscal policy, monetary policy. Written in the context of Indian economy, book provides details about what the terms GDP, FDI, CRR, SLR etc mean, why the prices of petrol are going up, and what is the real significance of inflation, a decent insight into the subprime mortgage crisis, the European crisis, how the RBI is making a conscious effort to rescue the Indian economy, what happened during the great depression, how our stock markets work. The best chapter I found in the book is on inflation and the least interesting one is unaimed opulence.

  15. 4 out of 5

    Deepak

    This book has helped me in understanding some less understood but very commonly encountered words like inflation, recession, fiscal policy, monetary policy and lot more concepts that have made me still more curious about this largely discussed but less understood subject that is ECONOMICS. The good thing about this book is that you would just have to pick it once and then it's so lucidly laid out that you will keep it only when you are somewhat enlightened and lot more curious about day to day EC This book has helped me in understanding some less understood but very commonly encountered words like inflation, recession, fiscal policy, monetary policy and lot more concepts that have made me still more curious about this largely discussed but less understood subject that is ECONOMICS. The good thing about this book is that you would just have to pick it once and then it's so lucidly laid out that you will keep it only when you are somewhat enlightened and lot more curious about day to day ECONOMIC activities.

  16. 4 out of 5

    Ajinkya Jadhav

    One of the first books to read to get your basics of economics in place.

  17. 4 out of 5

    S.Ach

    A ready reckoner and a wonderful rookie's guide for day to day economical terms we find in Indian business dailies.

  18. 5 out of 5

    Gopala Krishna

    Being a newbie this book helps to gain the knowledge in economics involved in day to day routine. Evolution of WTO from GATT. Best book to get meanings of economic terms used in business news.

  19. 4 out of 5

    Siddharth Sharma

    Economics hadn't been so easy before.

  20. 5 out of 5

    Vijay V

    This review has been hidden because it contains spoilers. To view it, click here. This book gives you an idea about basic econimcs to the person who does not know much about economics. Good book to read to know about day to day economics.

  21. 5 out of 5

    Laxman Selvam

    Just grab this book and start reading. This, as the author calls it, is a rookie's guide into the world of 'Rules or management of a household', that is, Economics. Not one action of yours is unrelated to economics. There could be, infact, are, thousands living on streets just because you own 50 acres of land (agricultural or non-agricultural). There are people dying to make ends meet because you could be grabbing onto those things which morally should be distributed among the less privileged. Th Just grab this book and start reading. This, as the author calls it, is a rookie's guide into the world of 'Rules or management of a household', that is, Economics. Not one action of yours is unrelated to economics. There could be, infact, are, thousands living on streets just because you own 50 acres of land (agricultural or non-agricultural). There are people dying to make ends meet because you could be grabbing onto those things which morally should be distributed among the less privileged. The next time you try to upgrade your iphone or plan to buy another plot of land or ignore buying healthy and quality Indian goods just because they aren't a brand, you will feel guilty of not allowing a a poor orphan enjoy the simple, yet basic, pleasure of a day's meal.

  22. 5 out of 5

    Akshay Prasath

    Day to day Economics is an extremely easy-to-read book which touches on certain macro- economic phenomena pertaining to India. The author does an incredible job of making such a complicated topic interesting and simple to the audience by taking out the math out of it. The chapters provide you with enough information to understand the economics of the scenario with examples from the real world and could be used practically. The chapter on the government budget especially made it easier for me to Day to day Economics is an extremely easy-to-read book which touches on certain macro- economic phenomena pertaining to India. The author does an incredible job of making such a complicated topic interesting and simple to the audience by taking out the math out of it. The chapters provide you with enough information to understand the economics of the scenario with examples from the real world and could be used practically. The chapter on the government budget especially made it easier for me to read and understand financial newspapers and follow what is going on around. Overall an easy read to understand the working of certain macro-economical institutions and how they affect us.

  23. 4 out of 5

    Tushar

    I found the book to be engaging, and the ideal summary I was looking for pertaining to the Indian Economics. Clearly, this is not the only book I intend to read or have read in the recent past, and in terms of facts, the book had nothing new to offer, and yet, despite all of it, it made for a very insightful read. Some of the concepts relating to inflation, recession, and stock markets were explained pretty well. This book is recommended for anyone with the slightest interest in Indian Economics I found the book to be engaging, and the ideal summary I was looking for pertaining to the Indian Economics. Clearly, this is not the only book I intend to read or have read in the recent past, and in terms of facts, the book had nothing new to offer, and yet, despite all of it, it made for a very insightful read. Some of the concepts relating to inflation, recession, and stock markets were explained pretty well. This book is recommended for anyone with the slightest interest in Indian Economics, including UPSC and CAT Aspirants.

  24. 4 out of 5

    Tarun Bahuguna

    Great Work! Economics is quite an interesting topic as it is more or less related to money. But the topic itself is quite boring when it comes to learning through books. Mr. Deodhar comes up with an interesting work that decodes the basic economics concepts which feels like walk in the park while reading it. I enjoyed the book and recommend it to any beginner who seeks a keen guidance on the subject. And yes economics is not only money its a heck of more than that.

  25. 4 out of 5

    Abhishek Anand

    A easy to understand book which familiarizes one with smith's and Keynes of the world. Strongly recommend for someone who is looking for an introduction to the world of economics and understand the language of various news papers or even articles. I am curiously looking forward to this years budget with the hope of deciphering it with the leanings from this book. Definitely going to check out more from this publication house.

  26. 5 out of 5

    Anoop

    you can rename this book as "A rookie's guide to the world of Economics". Economics is considered by many as an elusive knowledge irrespective of the fact it plays a vital role in every instances of one's daily routine. This book is an excellent attempt to elucidate the concepts of economics for the layman and encourages him to explore the intriguing world of Economics.

  27. 4 out of 5

    Tanya Jain

    Great book, written in a simple language, easy to understand. And it is great for those who are newcomers in the field of Economics, this book will make them aware about the very basics of it. It explains the terms we come across in day-to-day life like inflation, stock market etc. In short it is a perfect read for those who likes economics and want to know more about it :)

  28. 5 out of 5

    Ashok Krishna

    A simple and basic book that can help one cut one's teeth into economics, especially Indian economics. This book falls somewhere between the very basic introduction to the subject of Economics and a refresher course for those who already know what Economics is but want to move beyond the basics. Makes a good read.

  29. 4 out of 5

    Narayan Sanjeev

    A lot of economics related terminology on news and media which I had seen but didn't completely understand is made clear in this book. Gives a decent overview of all the relevant concepts in a digestible format.

  30. 5 out of 5

    Tushar Gupta

    Awesome book for beginners.

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