Eco Talks

Introduction The Coronavirus outbreak, which brought great economies to it’s knees has not spared a single country. This outbreak was officially declared to be a global pandemic by the World Health Organisation (WHO) on 11 March, 2020. With all that is happening around the globe, the healthcare system has remained the epicenter of this epidemic and the Indian healthcare sector is no exception. Each passing day, with no signs of the cure or vaccine being found, has been exerting heavy pressure on the healthcare sector. This sector not only faces the problem of inadequacy of healthcare staff who have been working tirelessly the whole time, but also medical equipment, infrastructure, and most importantly medicines. Therefore, the onset of the pandemic has accelerated the promotion along with demand of Indian made generic drugs on a domestic as well as international level. In this article, we will take a closer look into the effects of the coronavirus outbreak on the healthcare industr...

Introduction The financial crisis of 2008 or the Global Financial Crisis was considered by many economists at the time to be one of the biggest recessions in the global economy since the Great Depression of 1929. It was a hefty and unexpected jolt to the world’s financial system which almost caused the collapse of the international banking system. Despite the fact that it has recently been overshadowed by the Great Lockdown of 2020, it is still an undeniably devastating global event which led to the collapse of several economies in a very short period of time. In this article, I aim to analyse the Great Financial Crisis of 2008 in terms of the causes and events leading up to it and also take a critical look into the impact on India as well as its policy response. The Nature of Financial Market Leading up to the Crisis The U.S. faced a short lived recession in 2001. Therefore, to keep the recession away, the Federal Reserve (the Central Bank of the U.S), dramatically lowered...

Introduction Consumer preference is defined as the subjective tastes of individual consumers. It is measured by the satisfaction they receive with those items after they've purchased them. This satisfaction is often referred to as utility.  We all have different tastes and preferences when it comes to commodities and these preferences vary from person to person. We may prefer a commodity over another regardless of the price. For example a person may prefer oranges over apples regardless of their ability to buy it. These tastes and preferences play a crucial role in the choices we make, that is, consumer choice. Consumer choice refers to how we choose to use scarce resource to satisfy our wants. This post aims to explain how microeconomics views and understands these consumer preferences. Therefore, we will be delving deeper into the microeconomic explanation of consumer choice and preferences. Assumptions of consumer preferences Under microeconomics, consumer prefere...