Global Aviation has now been caught in a tough situation

Aviation as a field since its inception has been a very exciting and thrilling domain which has seen its own ups and downs. With the high operation costs and very low profit margins by the airlines, new strategies have always been developed to extract profits with safety in mind which makes Airline operations and aviation …

What is Economics and why is it called a Social Science?

Economics is basically the study of scarce resources and its resulting production, distribution and consumption among a certain population. Economics is also a social science since it studies human psychological phenomenon and the cause and effect relationships (cause means why a certain phenomenon occurs and effect is the conclusion which can be drawn from it) …

What is Macroeconomics? What does it study?

Macroeconomics is the branch of economics which studies an economy as a whole or at aggregate levels. Here economists study the market as a whole: the national, the local, the aggregate of firms (total) and the associated sectors. It also includes economic phenomenon such as production, trade, financial intermediation and includes discussions upon issues such …

India’s economic slowdown and what Economics has to say

India’s economic crisis can bring about the much needed reforms as Prime Minister Narendra Modi called for the country’s economic reforms within a week of assuming office in May and has made pretty good progress since then. But to bring economic shift, India will have to change the way it deals with its fiscal deficit, …

India’s population growth and economy : A comparison with China

One of the biggest and best indicators of India’s economic growth during the boom in the 80’s and 90’s was India’s young population growth. Between 1970 and 1997, India’s population grew on average by 6% per annum.  If you take India’s total growth rate and compare it to China and the US, you will see …