Undergraduate students of economics should take back insights of economics to their own personal or professional life even if they do not study economics later on. To a great extent, this is true for post-graduate students too. Most of them are less likely to end up as researchers in economics or economists! However they should be able to use the insights of economics in their non-economics professions or for an informed participation in public debates on the issues of economy.
However this need is not recognized adequately in the teaching of economics in countries like India. There are not many textbooks of microeconomics which discuss concepts with materials relevant to India and other such countries. We all know that economics has a lot to say on poverty, under-development and environmental destruction. However usually these are taught in another subject called development (and environmental) economics and probably some undergraduate students may miss such advanced/elective courses. Moreover an awareness of microeconomics is needed in general for all educated people.
Enabling such an understanding of microeconomics is the purpose of this initiative. Short essays of 500 words are written on each of the important concepts in economics by relating these to real world issues/examples from India and other developing countries. The initiative encourages the teachers of economics to write and use such short essays.
Real Life Microeconomics 