Measures to Increase Marginal Propensity to Consume | Macroeconomics Marginal Propensity to Consume (MPC) is the extra amount that people consume when they receive an extra amount of disposable income (Income after paying tax) .The short run production function is stable as it is very difficult to change in the […]

Determinants of Consumption Function | Macroeconomics The factors that affect the demand for  consumption are called determinants of consumption function.J.M Keynes has divided factors influencing the consumption function into two parts: Subjective factors (They are the internal factors influencing the consumption function) and Objective factors ( They are the external […]

Basic Issues In Macroeconomics | Macroeconomics Macroeconomics is the branch of economics that deals with the study of aggregate economic variables like aggregate demand, aggregate supply, price level, etc. Basic Issues in macroeconomics are the economic problems that have often been confronted by different countries at different points of time. […]

Difference between Marginal Efficiency of Capital (MEC) and Marginal Efficiency of Investment( MEI)| Macroeconomics Marginal Efficiency of Capital(MEC)  is the rate of discount which makes the discounted present value of expected income stream equal to the cost of capital.MEC was first introduced by J.M Keynes in 1936.According to him it […]

SOC 101 |Fundamentals of Sociology|Syllabus Sociology is the study of social behavior or society, including its origins, development, organization, networks, and institutions. It is a social science that uses various methods of empirical investigation and critical analysis to develop a body of knowledge about social order, disorder, and change.   Course […]

Introductory Macroeconomics | Syllabus Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.      Course Objectives This course is designed to reinforce and expand students’ understanding of the basic macroeconomic theory. It aims to […]

Some very short questions of Introduction to Microeconomics 1)Define an economic theory. Ans) An economic theory is defined as a model along with the specified and empirical economic variables, concepts and facts used to explain and predict the changes. 2).List out the elements of well defined economic theory. Ans)  The […]

Nicolas Gregory Mankiw’s Ten Principles of Economics:   Nicolas Gregory Mankiw is an macroeconomist and Professor of economics at Harvard University.Mankiw proposed 10 principles of economics which is unified by several central ideas.These 10 principles of economics offer an overview about what economics is all about. How people make decisions […]

Syllabus of Introductory Microeconomics Course Objectives This course is designed to reinforce and expand students’ understanding of the basic microeconomic theory. It aims to provide students with an introductory-level treatment of economic theory with emphasis on the technique besides the results. Besides, it helps the students to master the basic […]

Definition of Economics ,Economics is both Science and Art,Origin of Economics,Scarcity and Choice Economics: Economics is the study of how people allocate their limited resources to their alternative uses to produce and consume goods and services to satisfy their endless wants or maximize their gains. Economics is the social science […]