Econometrics – A brief Note

Econometrics = Economic Measurement = is an amalgam of economic theory (making statements or hypotheses that are mostly quantitative in nature), mathematical economics (to express economic theory in mathematical form with regard to measurability or empirical verification of theory), economic statistics (collecting, processing and presenting economic data in the form of graphs/ charts) and mathematical…

Economic School of Thought

Year Major events School of thought Sub-schools Thinkers/ Philosophers/ Economists 1710 Age of Reason The European Enlightenment era provided a boost to scientific inquiry. Thinkers began to apply scientific principles not only yo the natural world, but also to discover “laws” of human interaction, in order ro be able to explain how human society works….

Four ‘isms’ to embrace in life

Interesting, how school of thoughts evolved and it is all the more fascinating how each school came into existence and why it sustained. A school of thought (or intellectual tradition) is a collection or group of people who share common characteristics of opinion or outlook of a philosophy/ discipline/ belief/ social movement/ economics/ cultural movement, or art movement. There are more than 100 philosophies existent and still…

Partial Notes of the book ‘The wealth of nations’ by Adam Smith

Introduction Restrictions on imports, supported by merchants and manufacturers in some industries, work to the advantage of those industries but not to the general good of society. Many liberals and conservatives economists have interpreted smith’s reference to the invisible hand broadly, as indicating his commitment to the idea that individuals exchange in the marketplace inexorably…

Jaw dropping story – 98-Year-Old Man Clears Masters Exam In Economics In Bihar

Re-producing NDTV content In what could be a first of its kind, 98-year-old Raj Kumar Vaishya has passed the MA (economics) examination from Patna’s Nalanda Open University (NOU) with a second division. Mr Vaishya, who graduated in 1938, expressed his delight on Tuesday at this achievement. “Finally, I have fulfilled my long cherished dream. Now…

Websites to become autodidact in Economics

To start off with, there are a numerous blogs and websites for economics students to learn and for self education. These sources are a good source of information, however, very few are streamlined and organised in terms of learning economics evolution. The reason for why economics was conceptualized, that gives a more meaningful learning. This…

Websites for One Stop Economics

There are lot of information over internet regarding the whereabouts of economics. Conferences, Workshops, Courses, Universities and many more around the world. To get regular updates and information regarding Economics, Business and Finance; a wonderful website is available. INOMICS – https://inomics.com/ This website provides information about economics related jobs, courses, workshops, conferences, scholarships, events, institutions….

Project EcoLove

Economics is one subject, that I have been always curious about. There is some kind of pull towards this subject and I’m very fond of learning it’s nuances. But the unfortunate part is my formal education has been Engineering and MBA. Though I want to learn this subject, my educational background does not support me…

#Selfeet

A trek to long lost unknown off beat mountains, or may it be unexplored surreal places, or it may be the simplest journey to home from office. A journey of simple walk in the rain, walking against the cool breeze or a cuddled up walk in the cold winter. A time when one is completely drenched in…

Alive ?

There are 5.53 Crore deaths globally per year, which are two deaths every second. Why are you the lucky one still alive? So many lives are added each year globally i.e. 13.1 Crore. What’s the significance of us? Have you ever wondered why you are alive? What is the purpose of you being on this…

Telecom Sector – Policy Evolution in India

For any economy, telecommunications is an enabling factor and therefore policy regime for its development has been the top agenda for the policy-makers. Day by day, growing economic development in India is putting tremendous pressure on telecommunications requirements, and its geographic vastness makes the use of wireless technologies not only essential but without any second…

The conundrum of Economic Growth versus Economic Development

India is one of the fastest growing economies in the World today. It is growing at the rate of almost 7%, even surpassing major developing economy China. Recently, India has also jumped up on the Global Competitive Index by 16 ranking 39. Also, India’s ranking moved up 12 spots in the Doing Business Index released in October…

Economics of day-to-day life: Lens through a Mumbai Local Trains

Mumbai is an island city in which 88% of the population travel by local trains. Mumbai railway is about 150 years old and it caters to the transport requirement of a population of about 22 million every day. Local Trains are Mumbaikars’ basic necessity of day-to-day life. This teaches us many elements complex economics. Let’s say you…

Economic Freedom !!

Economic freedom or economic liberty refers to the freedom available to members of a society to engage in various economic activities and achieve certain economic outcomes. This is a term used in economic and policy debates as well as in the philosophy of economics. Milton Friedman (a man with Economic school of thought of Market…

Quotes to get inspired

Learning never exhausts the mind. – Leonardo Da Vinci (Polymath) To think is to differ. – Clarence Darrow The proletarians have nothing to lose but their chains. -Karl Marx (Socialist) Those who do not move, do not notice their chains. – Rosa Luxemburg (Socialist) Sometimes it’s worse to win a fight than to lose. –…

How different are Kyoto Protocol and Paris Agreement?

The signing process of Paris Agreement on Climate Change started from 22 April, 2016. India had signed the agreement and had also signed in 1998 the Kyoto Protocol agreement which preceded Paris agreement. Kyoto Protocol, an international agreement was adopted in 1997, with an objective to commit its Parties by setting internationally binding emission reduction targets. Eighteen years on, the world…