Economics

Rostow’s Stage Theory of Growth

Rostow’s Stage Theory of Growth

Rostow’s Stage Theory of Growth The Rostow’s Stages of Growth model (also called “Rostovian take-off model”) is one of the major historical models of economic growth. It was developed by W. W. Rostow. Rostow’s model is one of the more structuralist models of economic gro.....

Read More »

Lecture on Unemployment

Lecture on Unemployment

Unemployment occurs when any of the factors of production (labor, land, capital and entrepreneurship) are not employed in production of goods and services. It can be defined as a situation where an individual from the age group 16-57 years, despite his/her willingness to do work, cannot find a s.....

Read More »

Lecture on Modernization of Agriculture

Lecture on Modernization of Agriculture

The world has witnessed spectacular in-creases in agricultural output during the twentieth century, particularly in its latter half. This achievement is mainly ascribed to the improved agricultural practices leading to higher productivity of land and labour. The contribution of extensive cultivat.....

Read More »

Transformation from Agrarian to Industrialized Modern Society

Transformation from Agrarian to Industrialized Modern Society

In Industrialized Modern Society, incomes vary enormously with the US and Canada having the most unequal distributions. The highest earning 20% of households receive 2.7 times the share of the lowest earning 40% in the US, and 2.3 times their share in Canada.  Nonetheless, incomes in industrial.....

Read More »

Population and Development

Population and Development

Demography can be defined as the study of human populations including their composition, distributions, densities, growth and other characteristics as well as the causes and consequences of changes in these factors.  

.....

Read More »

Development and Development Indicators

Development and Development Indicators

The Development and Development Indicators is a composite statistic used to rank countries by level of “human development”, taken as a synonym of the older term standards of living or Quality of life, and distinguish very high human development.

.....

Read More »

Lecture on Development Economics

Lecture on Development Economics

Development economics is a branch of economics which deals with economic aspects of the development process in low-income countries. Its focus is not only on methods of promoting economic growth and structural change but also on improving the potential for the mass of the population, for example,.....

Read More »

Saving Investment and the Financial System

Saving Investment and the Financial System

Private Saving is the amount of income that households have left after paying their taxes and paying for their consumption. Public Saving is the amount of tax revenue that the government has left after paying for its spending. For the economy as a whole, saving must be equal to investment.

.....

Read More »

Lecture on Production and Growth

Lecture on Production and Growth

Production and Growth are differ economic growth around the world. A country’s standard of living depends on its ability to produce goods and services.  Within every country there are large changes in the standard of living over time.

.....

Read More »

Lecture on Measuring a National Income

Lecture on Measuring a National Income

Macroeconomics is the study of the economy as a whole.  Its goal is to explain the economic changes that affect many households, firms, and markets at once. Microeconomics is the study of how individual households and firms make decisions and how they interact with one another in markets.  .....

Read More »

Lecture on Major Economic Indicators

Lecture on Major Economic Indicators

National income and product accounts (or, national income accounts, for short) are an accounting system used to measure of aggregate economic activity.An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of fut.....

Read More »

GDP and Unemployment

GDP and Unemployment

Gross Domestic Product (GDP) is the market value of the final goods and services produced in a country during a given period. Market value is used to aggregate the quantities of different goods and services into one measurement.  

.....

Read More »