Article Shared by The following points highlight the top eleven economic ideas of Sir John Hicks. the economic ideas are: 1. Definition of Economics 2. Consumer Equilibrium 3. Revision of Demand Theory 4. Consumer’s Surplus 5. Population 6. Right Man on the Right Job 7. General Equilibrium 8. Economic Dynamics 9. Stationary State 10. Theory...
Article Shared by Meaning of Trade Cycle: A trade cycle refers to fluctuations in economic activities specially in employment, output and income, prices, profits etc. It has been defined differently by different economists. According to Mitchell, “Business cycles are of fluctuations in the economic activities of organized...
Article Shared by Let us make in-depth study of the role of Mundell Fleming model in open economy of a country. Introduction: One of the important fact about the world economy today is the high degree of integration or linkage among financial or capital markets. Households, banks or corporations of different...
LEARNING OBJECTIVES Explain how expansionary fiscal policy can increase aggregate demand and boost the economyExplain how contractionary fiscal policy can decrease aggregate demand and depress the economy Fiscal Policy Fiscal policy is the use of government spending and tax policy to influence the path of the economy over...
C. P. Chandrasekhar In an unusual and ill-advised move, the Reserve Bank of India issued a brief ‘clarification’ on October 1st which said: “There are rumours in some locations about certain banks including cooperative banks, resulting in anxiety among the depositors. RBI would like to assure...
The Phillips curve shows the relationship between unemployment and inflation in an economy. Since its ‘discovery’ by New Zealand economist AW Phillips, it has become an essential tool to analyse macro-economic policy. The Phillips curve and fiscal policy Background After 1945, fiscal demand management became the general tool...
Prabhat Patnaik The European Central Bank last month pushed its benchmark interest rate to minus 0.5 per cent, which means that if it gives a loan of 100 euros then it would be paid back only 99.5 euros at the expiry of the loan. This has...
Jomo Kwame Sundaram and Anis Chowdhury Public or state development banking will be vital to achieving the Sustainable Development Goals, argues UNCTAD’s Trade and Development Report 2019 (TDR 2019). Ongoing World Bank led efforts seek to leverage private finance via shadow banking by using public money to guarantee handsome returns managed...
Edited by Vikas Rawal and Dorian Kalamvrezos Navarro The Global Economy of Pulses, a key research output of the International Year of Pulses 2016, has been released by the Food and Agriculture Organization of the United Nations (FAO). Bulk of the work for the report, edited...
Article Shared by The below mentioned article provides an overview on the models of technical change in economic growth. Subject-Matter: Technical progress plays an imperative role in influencing the pace of economic growth. It is the technical change which results in an increased output per unit labour....