The Economics Society is dedicated to promoting economics as a field of study and research. Our society's motto is to encourage students to expand their economic thinking and ideas outside the classroom.
We conducted our first session on Sunday i.e. May 1,2022. As this was an introductory session, we discussed some basic topics such as Scarcity, Opportunity Cost, Demand and Supply and Market Equilibrium. The session was organized in a fun way and was highly interactive. We started from scratch to build a base for the students to that their basic concepts are clear and so that they don't face any challenges in the upcoming sessions. We also discussed Adam Smith and his theory of the invisible hand. A crucial economist, Adam Smith changed entire course of the economic history by introducing a new perspective.
We also looked into real life examples of the economic concepts explained so that students can apply economics around them and understand the practicality of the subject. In Norway, people have shifted from using petrol cars to EVs, how do you think it will affect the demand and supply for petrol and electric vehicles? This was one of the brainstorming activity questions we discussed during the session.
We plan to dive into much more complex concepts in the future.