Journey From Software Industry To The World of Economics

It is often seen that the engineering students possess the common dilemma of whether they should pursue an MBA after graduation or not. Being a Computer Science and Engineering Student I too possessed this dilemma once.

It is a well-known fact that an engineer who has a sound technical background would definitely like to pursue a career in their own technical specialization. Hence a computer engineer like me also started a career in the IT Sector. However, in the mid of my career, I felt the need to increase my learning for career growth where the need for management skills arrived. Now in order to break from the technical mode and seamlessly get blended with the management skill, pursuing PGDM in IBA turned out to be the best choice for me.

At the starting of the academic year and going to through the first economic session, the subject really turned out to be a nightmare for me. In the beginning, each concept was very much confusing but with the passage of time after going into the depth of the subject, I came to the conclusion that concepts of economics are applied in our day to day activities and hence it can put a theory behind our everyday actions.

Gradually when we started relating the concepts of economics with our real-life activities, the real fun started.  For instance, resigning my job to pursue MBA in order to get a better future shows the concept of ‘Opportunity Cost’, difficulty while choosing the best dress for fresher’s denotes ‘People Face Tradeoff’, getting bore after eating the mess food daily denotes ‘Diminishing Marginal Utility’, booking home tickets for Diwali Break earlier before the peak time to get at lower price signifies ‘Price Discrimination’.

Therefore gaining the basic knowledge about the economic concepts since the last three months and applying them in our real world scenario made the subject more clear.