The battle of English and Mathematics. This one is tricky!! 1 Rabbit saw 9 Elephants while going to the river. Every Elephant saw 3 Monkeys going toward the river. Each Monkey had 1 parrot in each hand. How many animals are going towards the river A. 9 B . 10 C. 37 D. None of these
1. Marginal Utility Analysis –Marshall – 1890 2. Revealed Preference Theory – Samuelson – 1938 3. Indifference Curve Theory – Hicks and Allen – 1934 4. Neumann – Morgenstern Approach – 1944 5. Friedman – Savage Hypothesis – Friedman and Savage- 1948
Market
1. Cournot Duopoly Model – Cournot – 1838 2. Edgeworth Oligopoly Model – Edgeworth – 1881 3. Bertrand’s Duopoly Model – Bertrand – 1883 4. Imperfect Competition – Joan Robinson - 1933 5. Monopolistic Competition – Chamberlin – 1933 6. Stackelberg’s Duopoly Model – Heinrich Von Stackelberg – 1934 7. Kinked Demand Curve – Paul M Sweezy - 1939 8. Game Theory – Neumann and Morgenstern – 1944
Welfare Criterion
1. Social Welfare Function – Bergson, Samuelson - 1938 2. Impossibility Theorem – Arrow– 1951 3. Theory of Second Best – Richard Lipsey and Kelvin Lancaster-1956 4. Coase Theorem – Ronald Coase - 1959 5. Asymmetric Information - George Akerlof, Michael Spence, and Joseph E. Stiglitz – 2001
Rent
1. Ricardian Theory of Rent – Ricardo – 1810 2. Modern Theory of Rent – Joan Robinson - 3. Quasi- Rent – Marshall-
Profit
1. Dynamic Theory of Profit – J.B.Clark – 1900 2. Rent Theory of Profit – F.A. Walker – 3. Risk Theory of Profit – H.B. Hawley – 1907 4. Innovation Theory of Profit – Joseph A Schumpeter – 1934
Macro Economics
Consumption Function
1. Absolute Income Hypothesis – Keynes – 1936 2. Relative Income Hypothesis – Duesenberry – 1949 3. Life Cycle Hypothesis – Ando, Modigliani – 1950 4. Permanent Income Hypothesis – Friedman – 1957
Effect
1. Keynes Effect – Keynes – 1936 2. Pigou Effect – A. C. Pigou – 1943 3. Real Balance Effect - Patinkin- 1956
1. Classical Theory – 1911 2. Keynesian Theory – Keynes - 1936 3. Inventory Approach – Baumol -1950 4. Restatement of Quantity Theory – Friedman – 1956 5. Port-folio Approach – Tobin – 1969
Quantity Theory of Money
1. Cash Transaction Approach – Fisher – 1911 2. Cash Balance Approach- Cambridge economists – A.C.Pigou (1917), Alfred Marshall (1923), D.H. Robertson (1922), John Maynard Keynes (1923), R.G. Hawtrey and Frederick Lavington (1921, 1922). 3. Reformulated Quantity Theory of Money – Keynes – 1930s 4. Real Balance Effect – Don Patinkin – 1956
Other
1. IS-LM model – Hicks - 1937 2. Monetary Approach to BOP- Hahn - 1959 3. Philips Curve –A. W. H. Phillips - 1958 4. Mundell Fleming Model – Robert Mundell and Marcus Fleming 1960 5. Optimum Currency Area – Robert Mundell – 1960
Development Economics
1. Marxian Theory of Economic Development – Marx – 1867 2. Lorenz Curve – 1905 3. Schumpeterian Theory – Schumpeter – 1911 4. Harrod Model – R.F. Harrod – 1939 5. Big Push Theory – Rosenstein Rodan – 1943 6. Domar Model – 1946 7. Dependency Theory – 1949 8. Balanced Growth – Rosenstein Rodan, Ragnar Nurkse, Arthur Lewis, Scitovsky, and Leibenstein – 1950 9. Unbalanced Growth – Hirschman -1950 10. Vicious Circle of Poverty – Nurkse – 1953 11. Theory of Unlimited Supplies of Labor – W.A. Lewis - 1954 12. Inverted U-hypothesis – 1955 13. Wage –Good Model- Brahmananda and Vakil - 1956 14. The Long-run Growth Model – R.M. Solow- 1956 15. Low Level Equilibrium trap – Nelson – 1956 16. Capital Accumulation Model- Joan Robinson- 1956 17. Critical Minimum Effort Thesis – Leibenstein – 1957 18. Kaldor model – Kaldor – 1957 19. Technical Progress of Kaldor – 1960 20. Kaldor-Mirrles Model – 1962 21. Fei – Rani’s Theory of Developmnet –John Fei and Gustav Rani- 1964 22. Two Gap Model –Hollis Chenery –1966 23. Learning by Doing – Arrow -1980 24. Endogenous Growth Model - 1980 25. Romer Model – 1986
Investment Criterion
1. The Capital Turn Over Criterion – J.J. Polak and N.S. Buchanan – 1943
Which macroeconomic school of thought argues that government intervention in the economy can have unintended consequences and may lead to inefficient outcomes?
Math Econ Lab
Math Econ Lab
https://youtu.be/0uUsItvzSvI?si=5uG78...
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Math Econ Lab
The battle of English and Mathematics. This one is tricky!!
1 Rabbit saw 9 Elephants while going to the river. Every Elephant saw 3 Monkeys going toward the river. Each Monkey had 1 parrot in each hand.
How many animals are going towards the river
A. 9 B . 10 C. 37 D. None of these
5 months ago | [YT] | 2
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Math Econ Lab
Theories of Consumer Behavior
1. Marginal Utility Analysis –Marshall – 1890
2. Revealed Preference Theory – Samuelson – 1938
3. Indifference Curve Theory – Hicks and Allen – 1934
4. Neumann – Morgenstern Approach – 1944
5. Friedman – Savage Hypothesis – Friedman and Savage- 1948
Market
1. Cournot Duopoly Model – Cournot – 1838
2. Edgeworth Oligopoly Model – Edgeworth – 1881
3. Bertrand’s Duopoly Model – Bertrand – 1883
4. Imperfect Competition – Joan Robinson - 1933
5. Monopolistic Competition – Chamberlin – 1933
6. Stackelberg’s Duopoly Model – Heinrich Von Stackelberg – 1934
7. Kinked Demand Curve – Paul M Sweezy - 1939
8. Game Theory – Neumann and Morgenstern – 1944
Welfare Criterion
1. Social Welfare Function – Bergson, Samuelson - 1938
2. Impossibility Theorem – Arrow– 1951
3. Theory of Second Best – Richard Lipsey and Kelvin Lancaster-1956
4. Coase Theorem – Ronald Coase - 1959
5. Asymmetric Information - George Akerlof, Michael Spence, and Joseph E. Stiglitz – 2001
Rent
1. Ricardian Theory of Rent – Ricardo – 1810
2. Modern Theory of Rent – Joan Robinson -
3. Quasi- Rent – Marshall-
Profit
1. Dynamic Theory of Profit – J.B.Clark – 1900
2. Rent Theory of Profit – F.A. Walker –
3. Risk Theory of Profit – H.B. Hawley – 1907
4. Innovation Theory of Profit – Joseph A Schumpeter – 1934
Macro Economics
Consumption Function
1. Absolute Income Hypothesis – Keynes – 1936
2. Relative Income Hypothesis – Duesenberry – 1949
3. Life Cycle Hypothesis – Ando, Modigliani – 1950
4. Permanent Income Hypothesis – Friedman – 1957
Effect
1. Keynes Effect – Keynes – 1936
2. Pigou Effect – A. C. Pigou – 1943
3. Real Balance Effect - Patinkin- 1956
Multiplier and Acceleration
1. Accelerator – J.M. Clark -1917
2. Multiplier – R.F. Khan – 1931
Demand for Money
1. Classical Theory – 1911
2. Keynesian Theory – Keynes - 1936
3. Inventory Approach – Baumol -1950
4. Restatement of Quantity Theory – Friedman – 1956
5. Port-folio Approach – Tobin – 1969
Quantity Theory of Money
1. Cash Transaction Approach – Fisher – 1911
2. Cash Balance Approach- Cambridge economists –
A.C.Pigou (1917), Alfred Marshall (1923), D.H. Robertson (1922), John Maynard Keynes (1923), R.G. Hawtrey and Frederick Lavington (1921, 1922).
3. Reformulated Quantity Theory of Money – Keynes – 1930s
4. Real Balance Effect – Don Patinkin – 1956
Other
1. IS-LM model – Hicks - 1937
2. Monetary Approach to BOP- Hahn - 1959
3. Philips Curve –A. W. H. Phillips - 1958
4. Mundell Fleming Model – Robert Mundell and Marcus Fleming 1960
5. Optimum Currency Area – Robert Mundell – 1960
Development Economics
1. Marxian Theory of Economic Development – Marx – 1867
2. Lorenz Curve – 1905
3. Schumpeterian Theory – Schumpeter – 1911
4. Harrod Model – R.F. Harrod – 1939
5. Big Push Theory – Rosenstein Rodan – 1943
6. Domar Model – 1946
7. Dependency Theory – 1949
8. Balanced Growth – Rosenstein Rodan, Ragnar Nurkse, Arthur Lewis, Scitovsky, and Leibenstein – 1950
9. Unbalanced Growth – Hirschman -1950
10. Vicious Circle of Poverty – Nurkse – 1953
11. Theory of Unlimited Supplies of Labor – W.A. Lewis - 1954
12. Inverted U-hypothesis – 1955
13. Wage –Good Model- Brahmananda and Vakil - 1956
14. The Long-run Growth Model – R.M. Solow- 1956
15. Low Level Equilibrium trap – Nelson – 1956
16. Capital Accumulation Model- Joan Robinson- 1956
17. Critical Minimum Effort Thesis – Leibenstein – 1957
18. Kaldor model – Kaldor – 1957
19. Technical Progress of Kaldor – 1960
20. Kaldor-Mirrles Model – 1962
21. Fei – Rani’s Theory of Developmnet –John Fei and Gustav Rani- 1964
22. Two Gap Model –Hollis Chenery –1966
23. Learning by Doing – Arrow -1980
24. Endogenous Growth Model - 1980
25. Romer Model – 1986
Investment Criterion
1. The Capital Turn Over Criterion – J.J. Polak and N.S. Buchanan – 1943
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Math Econ Lab
https://youtu.be/h0Nmwll7DDs?si=Tj1Jq...
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Math Econ Lab
Which of the following would be included in Gross National Product (GNP)?
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Math Econ Lab
Which macroeconomic school of thought emphasizes the importance of expectations and uncertainty in determining economic outcomes?
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Math Econ Lab
Which macroeconomic school of thought argues that the economy will tend towards full employment in the long run?
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Math Econ Lab
Which macroeconomic school of thought argues that government intervention in the economy can have unintended consequences and may lead to inefficient outcomes?
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Math Econ Lab
Which macroeconomic school of thought emphasizes the importance of rational expectations and market efficiency in determining economic outcomes?
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Math Econ Lab
Which macroeconomic school of thought argues that business cycles are primarily caused by fluctuations in aggregate demand?
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