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Penny Wise and Pound Foolish–A Seminar by ESoM

It is seldom that we associate technicalities with money in our day-to-day lives, but a little knowledge of economics goes a long way in effectively procuring and retaining wealth. Aligned with this thought, the Economic and Finance Society of Manipal (ESoM) delivered a short seminar on ‘Time Value of Money’, on 29th January 2018.

Picture Credits: The Photography Club, Manipal

The discussion started with the silly-sounding yet straightforward question, what is money? While it was evident that most people knew the answer to it, it was apparent that the room contained students mostly affiliated either with the writings of Adam Smith or with ESoM, as they clearly distinguished between valuation and money. A total of five speakers then went on to dissect the topic and tried to lay it out in simpler terms, explaining how the time value of money is a mere relation between the purchasing power of money and the interest rates that apply on it. The talk elaborated on the positive as well as negative uses of Systematic Investment Plan (SIP) to affect the gradual depreciation of money, given an ever-changing market and inflation. However, the seminar stayed hugely focused on hypothetical scenarios where the factors mentioned above did not weigh in.  

TVM is an effort towards bringing finance jargons into our conversations and seeing its practicality in a new light”, said Shubham Padgilwar, a member of the club. While the event strove to accomplish this objective, the lack of participants from other streams and the complicated phraseology involved, made it a difficult task.