Report on The Economics Club meetings

To step up…
Posted On The Times of India, Friday, November 28, 2008

…is what the student members of the Economics Club have learnt from the current economic meltdown. The students are now aiming at enhancing their skills and changing their lifestyle to curb the unnecessary expenditures
Financial turmoil, economic meltdown, crashes in the stock market, slump in the IT industry, are some of the major issues confronting our economy.
20-odd college students meet regularly at the Economics Club located in Mulund east to discuss the impact of financial crisis on the lives of students
Keeping this economic scenario in mind, we paid a visit to the Mulund based Economics Club located in Mulund east where the 20-odd college students meet regularly to discuss the impact of such a crisis on the lives of students.
The students of this club follow one mantra "Economize or you will agonize" in their daily lives. They have already come up with some cost cutting measures which has enabled them to curtail their expenses.
This club was initially formed in 2001, by Shashi Panikar, a Mulund-based Economics teacher. Talking about the objectives of the club Panicker informs, "Our main objective was to make the students and parents aware of the various avenues available in the field of Economics and Finance.
This was done by providing information about the various courses both in the country as well as overseas. Arth Manthan, an exclusive festival based on Economics was conceived to make the subject student centric. Events in this festival also includes skits and songs based on Economics. Last week the club in association with Forum of Free Enterprise organised a seminar on Global Financial turmoil and the Challenges in India at RA Podar college," he reveals.
"The impact of financial crisis is a major problem for the students because simply put it means salary cuts and fewer jobs for the youth.
On the positive side it also means students can utilise this layoff time to enhance their skills, educational qualification so that they are better equipped to face the new world once the economy revives," states Saylee Katkar, HR Management student, who is currently a member of this club.
Her friend Vrushali Patankar, who is majoring in Economics from Ruia college admits, "Being a member of the Economic Club has made me see things on a positive note. We have gathered information on the causes and effects responsible for the present financial crisis. We are not bogged down because we know that it is a business cycle therefore the economy will once again reach its peak."
Meanwhile these students have already started thinking of ways to save on their pocket money. Anjali Nair and Mohini Golesar both Std XII students from Kelkar college state, "This crisis has made us more mature. We have realised the value of money, we are not blowing it away on unnecessary expenses," informs the duo.
Likewise, walking short distances thus saving on the auto fare, avoiding lavish treats which also means sacrificing visits to the expensive coffee shop outlets/ popular food chains are some of the practical measures adopted by other members like Jeomy Alexender, Rohit Rana and Sagar Jain all from Vikas college. Prathamesh Dixit, another Std XII student from Kelkar college states, "We can always postpone our celebrations.
Even while watching a movie, it is better to pool in the money together and purchase a DVD instead of wasting the money by buying individual tickets at the multiplexes," he reasons.
One of the major worry in the minds of these students is finding sponsors to fund the inter collegiate festivals scheduled to be hosted this year at their respective colleges. "We will have to get creative and think of innovative ways to host the events incase we do not get the required sponsorships," they chorus.

We have gathered information on the causes and effects responsible for the present financial crisis. We are not bogged down because we know that it is a business cycle therefore the economy will once again reach its peak- Vrushali Patankar, a member