Insitute of Economics and Management studies

Mercantile theory    Mercantilism was an economic theory prevalent from the 16th to the 18th centuries, emphasizing the importance of a nation's wealth in terms of accumulating precious metals, especially gold and silver. Here are key aspects of the mercantile theory: Bullionism : Mercantilists believed that a nation's wealth was determined by the amount of precious metals it possessed. The goal was to export more goods than import, ensuring a surplus that could be settled in gold or silver. Balance of Trade : Mercantilists emphasized maintaining a positive balance of trade, where a nation exports more goods than it imports. This would lead to a flow of gold and silver into the country, increasing its wealth. Colonialism and Imperialism : Mercantilism often justified colonial expansion as a means to secure valuable resources and markets. Colonies were viewed as sources of raw materials and as captive markets for the mother country's finished goods. Protectionism : Mercantil

  11 Reason to be sucessful in  Net Jrf Economics exam  1) Interested in the mind- Start developing mentally that you are learning best ie Economics , it's particularly important that you're interested in and engaged with your subject. 2) Aptitude for Mathematical Economics - Interpreting visual data like graphs and some  basic Mathematics like Calculus, Linear algebra and statistics will help you in basic prepartion of Net Exams.You should work on this .  3) Knowledge of  Basic Economics - Read Basic books to make your concept clear.This will help you to understand complex Economics concept. 4) Understanding Diffrent theories of scholars - Read some concepts Theories of Classical, Neo classical , Keynes and other scholars.which will be help you to start on your prepartion 5) Self Motivated - Self driven, Committed, Concentrated, Trust yourself. 6) Time Management-Successful students should plan their weeks  well in advance  to complete their study. 7) Admitting you don't u

 Mathematical Economics Mathematical economics  is the application of mathematical method to represent theories and analysed problem in  Economics. Mathematics allows economists to form meaningful, testable propositions about wide-ranging and complex subjects which could less easily be expressed informally. Further, the language of mathematics allows economists to make specific positive  claims about controversial or contentious subjects that would be impossible without mathematics. Today we  will discuss about Set theory Set Theory  is a branch of mathematical logic where we learn sets and their properties. A set is a collection of objects or groups of objects. These objects are often called elements or members of a set. For example, a group of players in a cricket team is a set.  Since the number of players in a cricket team could be only 11 at a time, thus we can say, this set is a finite set. Another example of a finite set is a set of English vowels. But there are many sets that h