The study of economics can be either exciting or terribly dull, depending on the approach used to explicate the concepts and the underlying philosophies. But we cannot get away from the fact that we need to understand economic processes if we are to make effective decisions in many spheres of activity – not just as academic or professional economists. This look behind a phenomenon that has touched most of our lives in recent years serves as a primer for both the teacher and student. You could use it in your high school economics class and help stimulate some rich discussion.
The author is a teacher at Vidyaranya School, Hyderabad. She can be reached at [email protected].