If you think that economics is the subject which only deals with the issues of forecasting the rate of growth of GDP of a country and keeps the common masses updated with the recommendations and various monetary policies initiated by the Central Bank of a country for the purpose of checking the spiralling rate of inflation, plummeting level of employment and income under depression, then you are not absolutely correct. In the present global scenario of post-reformed economy of the 1990s, economics as a subject has been reckoned as the science of human behaviour which functions as the parameters of holistic development of a nation and also a pretty vital treatise on the welfare of its common masses.

   They say that economics is what economists do. What it connotes is the truth that canvas and contour of economics is so vast that it cannot easily be enveloped within the boundary of a few definitions and concepts, the fact which was also endorsed by....