ECONO FAIR

The School of Commerce, Finance & Accountancy presents **EconoFair – Economics in Action**, an engaging and interactive academic event designed to take economics beyond textbooks, theories, graphs, and equations and bring it into the world of everyday experiences. The event provides students with a dynamic platform to demonstrate how fundamental economic principles operate in real markets and influence decisions made by consumers, producers, businesses, and governments.

Scheduled for **11 September 2026, from 4:00 PM to 5:30 PM at the Activity Hub**, EconoFair will feature creative and interactive projects developed and presented by the **I B.Com Financial Analytics students**, under the guidance of **Faculty Coordinator Ms. Pallavi Pandey**.

At the heart of EconoFair is a simple yet powerful idea: **economics is not confined to the classroom—it is all around us.** Every time the price of a vegetable changes, a cab fare increases during peak hours, a fruit becomes cheaper during its harvest season, or a government introduces a policy to influence prices and production, economic forces are at work. Through their working models and demonstrations, students will make these invisible market mechanisms visible, understandable, and relatable.

A major focus of the event will be the fundamental economic forces of **demand and supply**. Students will demonstrate how changes in consumer preferences, income, availability, production costs, market conditions, and other factors can shift demand and supply and subsequently influence market prices and quantities. Visitors will be able to observe these relationships through working models rather than simply reading about them in a textbook.

The projects will connect economic theory with familiar real-world situations. One such illustration will explore **onion price volatility**, demonstrating how fluctuations in agricultural supply, seasonal conditions, transportation, storage, and consumer demand can contribute to significant changes in market prices. Another project will examine **surge pricing in cab services**, showing how changes in demand during peak hours can influence prices and how digital platforms use market mechanisms to respond to changing conditions.

Students will also explore the economics of **seasonal fruit markets**, where the availability of produce can dramatically affect prices. Such examples provide an intuitive understanding of how market equilibrium is established and why prices may rise when goods become scarce or fall when supply becomes abundant.

Beyond demand and supply, EconoFair will introduce visitors to important concepts such as **elasticity, equilibrium, price determination, and government intervention**. The exhibits will demonstrate how consumers and producers respond differently to changes in prices and how the degree of responsiveness can affect market outcomes. Students will also highlight how government policies such as price controls, taxation, subsidies, and other interventions can influence markets and alter the behaviour of economic agents.

The event is particularly significant for students because it encourages them to move from **learning economic concepts to applying them**. Designing working models requires students to understand not only the definitions of concepts but also their relationships, assumptions, implications, and practical relevance. It promotes analytical thinking, creativity, teamwork, communication, problem-solving, and the ability to translate abstract economic ideas into accessible visual and experiential formats.

For visitors, EconoFair offers an opportunity to look at familiar situations through a different lens. The price of an onion, the fare of a cab ride, or the cost of seasonal fruit can become a starting point for understanding much larger questions about markets, incentives, scarcity, consumer behaviour, production, and public policy.

Through this experiential approach, **EconoFair 2026 seeks to make economics practical, insightful, interactive, and fun**. It celebrates the ability of students to connect classroom learning with the world around them and demonstrates that economic thinking can help us understand many of the everyday choices and market outcomes we encounter.

We invite students, faculty members, and the wider university community to visit the exhibits, interact with the models, engage with the presenters, and discover how economic theories come alive in real-world situations.