Business Daily from THE HINDU group of publications
Monday, Nov 12, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Nov 12, 2007 ePaper | Mobile/PDA Version |
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Mentor
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Books Columns - Reading Room Everyday problems in economics 
Rajnish stays in the college hostel. His dad, who used to send Rs 5,000 every month for expenses, became generous for some reason, and hiked the stipend to Rs 7,000. Rajnish is now going to lot more movies than before, and eating less at the nearby dhaba. “There are no changes in the movie ticket prices or that of the food at the dhaba. From this, can we say that both movies and food at the dhaba are normal goods for Rajnish?” Thus reads one of the questions in Microeconomics for Business by Satya P. Das ( www.sagepublications.com). Another problem, in a chapter on monopolistic competition, talks about a small town, which has two taxi stands. “One has a fleet of cars all running on diesel and the other has cars all running on CNG (compressed natural gas). Think of this as a duopoly market, each ‘producing’ kilometres of travel,” writes Das. “Starting from a given situation, suppose CNG becomes more expensive, while the cost of diesel remains unchanged. Assuming that the two taxi stands play a Cournot duopoly game, how will this affect the best response curves and the amount produced by the two taxi stands?” Enticing economics. A fork in the road
James Siegel begins Deceit ( www.landmarkonthenet.com) with a deceptively simple story, thus: “Once there were two villages. One village where they always told the truth. Another village where they always lied. One day a traveller came to a fork in the road. He knew one road led to the village w here they always told the truth. “In this village he would find food and shelter. The other road led to the village where everyone lied. In that village he knew he’d be beaten, robbed, even killed. A man stood at the fork in this road, but the traveller didn’t know which village this man came from…” A fast-paced tale. Marketing caselets
Malini Pande’s Focusing on Concepts introduces students to marketing through 30 caselets. She begins with a case on ‘herbal beauty therapy’ to talk about brand and value; then come ‘South Indian Delite’, the case of a highly successful restaurant, and ‘Speed King’, a new mobike. The author deals with varied themes such as the paradox of high income and low expenditure, adapting to change, value-pricing, creativit y and relationship marketing. A section on ‘services marketing’ has Sanjay taking Leena on a dinner date… Good effort. Tailpiece Parent: “I think you should study, rather than watch the TV.” Child: “Before the break, or after?” D. MURALI More Stories on : Books | Reading Room
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