Money talks, so do we.
The SCD Economics Society is the perfect place to explore big questions in a fun, relaxed environment—no prior knowledge needed. Whether you’re wondering why prices keep rising, how businesses make decisions, or what causes financial crises (and how we fix them), we break it all down together.Whether you're planning a career in finance or just want to make sense of the headlines, there’s something here for you. No jargon, no pressure—just interesting conversations, practical skills, and a chance to connect with people who think a little deeper. Come along and get involved.
President & Founder: Vishnu V.
Founder: Dylan R.
Founder: Lahari W.
Founder: Dola A.
Founder: Dyren R.
Founder: Mirren R.
Founder: Kian P.
Founder: Thomas B.
This topic introduces the study of resource allocation under scarcity. Economic Methodology uses scientific methods to analyze economic issues. Nature and Purpose of Economic Activity focuses on meeting human needs and wants. Economic Resources include land, labor, capital, and entrepreneurship. Scarcity, Choice, and the Allocation of Resources highlight trade-offs and opportunity costs. Productivity Possibility Diagrams visually represent production trade-offs and efficiency frontiers.
This section examines how individuals make choices in markets. Consumer Behaviour is driven by preferences, income, and prices. Imperfect Information leads to suboptimal decisions. Aspects of Behavioural Economic Theory incorporate psychological influences on choices. Behavioural Economics and Economic Policy use insights to design policies that nudge better decision-making.
This topic explores how prices are set through market forces. The Determinants of Demand include income, tastes, and prices of related goods. Price, Income, and Cross Elasticity of Demand measure responsiveness to changes. The Supply of Goods and Services depends on production costs and technology. Price Elasticity of Supply gauges supply responsiveness. The Determination of Equilibrium Market Prices occurs where supply equals demand. The Interrelationship between Markets shows how changes in one market affect others.
This section covers firm production and financial decisions. Production combines inputs to create goods or services. Specialisation, Division of Labour, and Exchange enhance efficiency. The Law of Diminishing Returns and Returns to Scale affect output as inputs vary. Costs of Production include fixed and variable costs. Economies and Diseconomies of Scale influence cost efficiency. Marginal, Average, and Total Revenue guide pricing. Profit motivates firms. Technological Change boosts productivity.
This topic analyzes different market structures. Market Structures range from competitive to monopolistic. The Objectives of Firms often center on profit maximization. Perfect Competition features many firms with identical products. Monopoly and Monopsony Power involve single sellers or buyers dominating markets. The Advantages and Disadvantages of Monopoly weigh innovation against inefficiency. The Dynamics of Competition and Competitive Market Processes drive efficiency and consumer benefits.
This section studies market efficiency and its limitations. How Markets and Prices Allocate Resources relies on supply and demand. The Meaning of Market Failure refers to inefficiencies like externalities. Private Goods, Public Goods, and Quasi-Public Goods differ in excludability and rivalry. Positive and Negative Externalities in Production and Consumption impact third parties. Merit and Demerit Goods are under- or over-consumed. Market Imperfections include information asymmetries. Government Intervention in Markets uses taxes or subsidies to correct failures. Government Failure occurs when interventions create inefficiencies.
This topic evaluates national economic health. The Objectives of Government Economic Policy include growth, low unemployment, and price stability. Macroeconomic Indicators like GDP, inflation, and unemployment rates track performance. The Use of Index Numbers standardizes data, such as the CPI. The Use of National Income Data measures economic output and living standards.
This section models the economy’s operations. The Circular Flow of Income illustrates money flows between households and firms. Aggregate Demand and Aggregate Supply Analysis determines output and price levels. The Determinants of Aggregate Demand include consumption, investment, and government spending. Determinants of Short-Run Aggregate Supply involve production costs. Determinants of Long-Run Aggregate Supply depend on resources and technology.
This topic assesses key economic outcomes. Economic Growth and the Economic Cycle track expansions and contractions. Employment and Unemployment reflect labor market conditions. Inflation and Deflation affect purchasing power. Conflicts Between Macroeconomic Policy Objectives arise when goals like low unemployment and stable prices compete.
This section explores government economic tools. Monetary Policy adjusts interest rates or money supply to influence demand. Fiscal Policy uses taxation and spending to stabilize the economy. Supply-Side Policy enhances productivity through education, deregulation, or tax incentives.
Exams to determine predicted grades.
This topic examines global economic integration. Globalisation connects economies through trade and investment. Trade promotes efficiency via specialization. The Balance of Payments records international transactions, including exports, imports, and capital flows.
This section covers global economic dynamics. Exchange Rate Systems like fixed or floating rates influence trade and stability. Economic Growth and Development focus on improving living standards and broader welfare measures like health and education.
This topic extends market structure analysis. Monopolistic Competition involves differentiated products with many firms. Oligopoly features interdependent firms. Price Discrimination allows firms to maximize profits. Contestable and Non-Contestable Markets affect competition levels. Consumer and Producer Surplus measure welfare gains from trade.
This section studies labor economics. The Demand for Labour depends on productivity and wages. Influences on the Supply of Labour to Different Labour Markets include wages, conditions, and skills. Perfectly Competitive Labour Markets balance wages and employment. Imperfectly Competitive Labour Markets face distortions like monopsony. The Influence of Trade Unions in Determining Wages and Levels of Employment shapes labor outcomes. Discrimination in the Labour Market creates wage and opportunity gaps.
This topic addresses economic disparities. The Distribution of Income and Wealth varies across societies, creating inequities. The Problem of Poverty traps individuals in low living standards. Government Policies to Alleviate Poverty and to Influence the Distribution of Income and Wealth include taxes, transfers, and welfare programs.
This section revisits market dynamics. Competition Policy promotes fair markets and prevents monopolistic behavior. Public Ownership, Privatisation, Regulation, and Deregulation of Markets balance efficiency, innovation, and public interest.
This topic explores the financial system’s role. The Structure of Financial Markets and Financial Assets includes stocks, bonds, and derivatives. Commercial Banks and Investment Banks facilitate saving and investment. The Regulation of the Financial System ensures stability while managing risks to prevent crises.