Insitute of Economics and Management studies

Keynesian Theory of Income and Employment: John Maynard Keynes https://en.m.wikipedia.org/wiki/John_Maynard_Keynes DEFINITION AND EXPLANATION: John Maynard Keynes was the main critic of the classical macro economics. He in his book 'General Theory of Employment, Interest and Money' out-rightly rejected the Say's Law of Market that supply creates its own demand. He severely criticized A.C. Pigou's version that cuts in real wages help in promoting employment in the economy. He also opposed the idea that saving and investment can be brought about through changes in the rate of interest. In addition to this, the assumption of full employment in the economy is not realistic. So long as the economy was operating smoothly, the classical analysis of aggregate economy met no serious opposition. However, Great Depression of 1930's created problems of increasing unemployment, reducing national income, declining prices and failing firms increased in intensity....

 RBI GRADE B Exams for Economics students  "Dear Economics students, Are you interested in a career in central banking and economic policy-making? Look no further than the RBI Grade B exam! As an economics student, you already have a solid foundation in the subject matter. With dedicated preparation, you can crack this prestigious exam and join the Reserve Bank of India (RBI) as a Grade B officer. To prepare, focus on: 1. *Microeconomics*: Theory of consumer behavior, production, market structures, and welfare economics. 2. *Macroeconomics*: National income accounting, aggregate demand and supply, inflation, and monetary policy. 3. *International Trade*: Gains from trade, tariffs, exchange rates, and balance of payments. 4. *Economic Growth and Development*: Models, indicators, and strategies. 5. *Indian Economy*: Historical perspective, planning, liberalization, and economic reforms. 6. *Statistics*: Descriptive and inferential statistics, data interpretation, and analysis. 7...

Econometrics Regression Analysis Part 1   Regression analysis is a statistical method used to model and analyze the relationship between a dependent variable and one or more independent variables. In the context of econometrics, this technique is widely employed to understand and quantify the relationships between economic variables. Here's a more detailed breakdown: Dependent Variable (Y): This is the variable that you want to predict or explain. In econometrics, it often represents an economic outcome or phenomenon, such as GDP, inflation, or unemployment rate. Independent Variable(s) (X): These are the variables that you believe influence or explain changes in the dependent variable. They are also referred to as predictor variables. In economics, independent variables can include factors like interest rates, government spending, or consumer income. Linear Regression Model: The simplest form of regression assumes a linear relationship between the dependent and independent vari...

  Net Economics  Important Interpretation in one place MICRO Economics  Microeconomics is the branch of economics that deals with the behavior of individual economic units such as consumers, firms, and resource owners. Here are some important definitions in microeconomics: Supply and Demand: The fundamental concept in microeconomics where the price and quantity of goods in the market are determined by the balance between what producers are willing to supply and what consumers are willing to buy. Elasticity: A measure of how sensitive the quantity demanded or supplied of a good is to changes in price, income, or other factors. Utility: The satisfaction or pleasure derived from consuming goods and services. It is a fundamental concept in understanding consumer behavior. Costs of Production: The expenses incurred by firms in the process of producing goods and services, including fixed and variable costs. Perfect Competition: A market structure in which there are many small f...