Economics notes for university students

Covers all topics regarding to Business economics

BUSINESS CYCLE. Definitions.Features.Types of Business Cycles .Hayek's Over Investment Theory Of Trade Cycle.Monetarist Interpretation of Trade Cycle.MONETARY POLICY.INSTRUMENTS OF MONETARY POLICY.LIMITATIONS OF MONETARY POLICY.FISCAL POLICY AND STABILISATION OF ECONOMIC ACTIVITIES.FISCAL POLICY AN...

Types of Inflation THEORIES OF INFLATION THE COSTS OF INFLATION MEASUREMENT OF INFLATION IN INDIA GDP Deflator CAUSES OF INFLATION MEASURES TO CONTROL INFLATION -Anti Inflation Policies MONETARY POLICY AND INFLATION FISCAL POLICY AND INFLATION DEFLATION UNEMPLOYMENT OKUN'S LAW THE...

Medium of exchange Evolution of money Kinds of money Functions of Money Difference between money and near money Demand for money Theories of demand for money RATE OF INTEREST AND PRICE OF BONDS Keynes theory of demand for money or liquidity preference theory MONEY AND PRICES FRIEDMAN'S...

Absolute Income Hypothesis - Keynes Secular Stagnation Hypothesis Kuznets Findings The Relative Income Hypothesis- Duesenberry Demonstration Effect Ratchet Effect The Permanent Income Hypothesis (PIH) - Milton Friedman Relationship between Consumption and Permanent Income The Life Cycle Hy...

Meaning of International Economics Theoretical aspects Importance of international Economic Trade SIMILARITIES BETWEEN INTER-REGIONAL & INTERNATIONAL TRADE DISTINCTION BETWEEN INTER-REGIONAL & INTERNATIONAL TRADE Risk in international trade IMPORTANCE OF INTERNATIONAL TRADE - TRADE AS AN E...

Free trade THE CASE FOR FREE TRADE THE CASE AGAINST FREE TRADE PROTECTION ARGUMENTS FOR PROTECTION Infant Industry Argument LDCs and infant industry argument Non-Economic Arguments NEED FOR PROTECTION IN LDCs Arguments against protection

Theory of Production and Costs Concept of Production – Production Function –– short run versus long run production function- Law of Variable Proportions – TP, AP, MP and their interrelationships – Isoquants- Properties- MRTS - Isocost Curve –Producer Equilibrium- Law of Returns to S...

Why study History of Economic Thought? GREEK ECONOMIC THOUGHT Plato (427-347 BC) Aristotle(384-322) MEDIEVAL ECONOMIC THOUGHT St. Thomas Aquinas (1225-1274) MERCANTILISM The Ideas of Mercantilists THE PHYSIOCRATS Factors Responsible for the Rise of Physiocracy Ideas of Physiocrats L...