Titles..

How to download files.

Pastpapers

>>>>> Click here <<<<<

Wage Determination in Perfectly Competitive Labour Markets

How wages are determined in a perfectly competitive labour market. A perfectly competitive labour market will have the following features:

·         Many firms

·         Perfect information about wages and job conditions

·         Firms are offering identical jobs

·         Many workers with same skills

>>>>> Click here for full Chapter. <<<<<

Theories of Social Goods

LINK:  https://drive.google.com/open?id=0BxzJ2-mL0khhU2o0OHd4NUlfSUk

Introduction Trade and Commercial Policy

>>>>> Full chapter <<<<

>>>>>>>> BOP <<<<<<<

>>>>>>> T.O.T <<<<<<<

Inflation

Inflation refers to a situation where there is a continuous and persistent rise in general price level in a country. Inflation erodes the real value of money. It lead to a fall in purchasing power. Rs. 100 (nominal value) under an inflation rate of 10% is worth less than Rs. 100.

Real value is: 

Time period and costs

TIME PERIOD AND COSTS

Factors of production are actually classified into fixed factors and variable factors. Fixed factors are factors that do not change with the level of output. For example, we usually take land or capital to be fixed. Variable factors, on the other hand, are factors that do change with the level of output. For example, we will employ more labour if production increases. Therefore labour is a variable factor.

>>>> Click here for full Chapter. <<<<

Monetary and Fiscal Policy

Monetary Policy (M. P.)

It refers to a term used for the deliberate attempt by the government to regulate the level of economic activities by controlling the money supply, level of interest and conditions available for credit.

Fiscal Policies (F.P.)

It is an instrument of demand management which seeks to influence the level of economic activity through the control of taxation and government expenditure.

>>>>> Click here for full Chapter. <<<<<

Unemployment

Unemployment can be defined as: “a state of affairs when in a country there are large number of able-bodied persons of working age who are willing to work but cannot find work at current wage level.” The labour force or working population: “is the total number of workers available for employment in a country.” The force comprises those people currently working as employees, the self-employed and people currently unemployed. The size of the labour forces depend on the activity rate- i.e. the proportion of a country’s total population which makes up the labour force. The unemployment rate is: “the number of unemployed workers expressed as a % of a country’s labour forces.” 

>>>>> Click here for full Chapter. <<<<<

Keywords:
Type of unemployment

Philip curve

Cost of unemployment 

Introduction to Macroeconomics and National Income Accounting

Microeconomics: is the study of individuals’ behaviour in the economy. It is concerned with for e.g., the behaviour of firms, consumers, and the determination of market prices and quantities.

Macroeconomics: is the study of aggregate economic activity. Macroeconomic investigates how the economy as a whole works. For instance, it is concerned with the overall price level, overall employment level or price stability.

Macroeconomic objectives of the government:

(i)                 full employment

(ii)               the avoidance of high inflation rate

(iii)             economic growth

(iv)             balance of payment equilibrium

>>>>>>>>>> Click here for full Chapter. <<<<<<<<<<<

Additional notes: National income.doc

Theory of Firms

 The Objectives of Firms

(i) Profit Maximization

(ii) Sales-Revenue Maximization

(iii) Asset-growth maximization

>>>> Click here for full Chapter. <<<<

Keywords:

Perfect competition

Monopolistic competition

Oligopoly 

Monopoly

Developing the theory of supply: Cost and Production

Cost of production refers to the expenses that are incurred during the process of production. They represent all spending on factor inputs, resources that are used during production. Cost is related to the period of time and economists use the concept of short-run and long run.

>>>> Click here for full Chapter. <<<<

Keywords:

Short-run

Long run

Economies of scale

Objectives of Firms

Uses of elasticity

>>>> Click here for full Chapter. <<<<

Demand, Supply and the Market

A market refers to an institution characterized by the market forces namely demand and supply. It is also defined as a situation where buyers and sellers can be in touch with each other to buy and sell some commodities.

>>>> Click here for full Chapter. <<<<

Keywords:

Demand

Types of Demand

Supply

Equilibrium

Movements and shifts in demand/supply curves

Sources of shifts in market demand curves

Price floor or minimum price

 Price elasticity of demand

Substitutes goods

Complementary Goods

Income Elasticity

The Basic Economic Problem and Market Failures

Definition of Economics

Economics is the study of the problem of using the available factors of production as efficiently as possible so as to attain the maximum fulfillment of the society’s unlimited demands for goods and services.

According to Lionel Robbins: “Economics is the science that studies human behaviour as a relationship between ends and scarce means that have alternative uses.”

>>>> Click here for full Chapter.  <<<<

Keywords:

Microeconomics v/s Macroeconomics

The Economic Problem

Choices

Opportunity Cost

The Production Possibility Frontier

The Economic System

Subsistence Economies

The Capitalist System

Mixed Economies

Market Failure

Public v/s Merit Goods

Externalities

Economic system

An economic system is the way a society sets about allocating (deciding) which goods to produce and in which quantities.

OR

An economic system relates to a social framework of rules and regulations for  answering the basic economic questions of what to produce, how to produce and for whom to produce.

Read more: Economic system Link << CLICK