Week 7 (Day 1) : Theory of Distribution : General Economics Paper 1-Indian Economic Services

Guys,

Happy New Year. I am back after the break, several things happened in this break, life took over, you know. Anyways, let us start from where we stopped. I made two videos today.

Marginal Productivity Theory and Demand Curve for Labour

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Product Exhaustion Theorem and Adding Up Problem

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Happy Studying

For any queries related to the course, pls call us 9999886629

N

WEEK 6 : WELFARE ECONOMICS AND THEORY OF DISTRIBUTION : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES

This week, I have not been able to upload videos, as my father was hospitalised. He is fine now. I created some lessons but did not get time to upload them. Anyhow, my speed, which I pulled up last to last week, was halted a little due to these unforeseen circumstances previous week. I planned to complete, Welfare economics and Theory of Distribution by last week only, but could not do so. I will try to do them as soon as possible.

This week I made a little dent on Theory of Distribution and Game Theory and made notes and recorded them, on the following topics.

Ricardian Theory of Rent

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Quasi Rent, Transfer Earning, Economic Rent

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Compensation Principle : Hicks Compensation Principle and Kaldor Compensation Principle

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Neoclassical Theory of Distribution : Marginal Productivity Theory

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Product Exhaustion Theorem and Adding up Controversy

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Game Theory Concepts : Dominant Strategy Equilibrium and Nash Equilibrium

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Repeated Games, Sequential Games, Normal form games

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Mixed Strategy Equilibrium 

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For any queries regarding the course, kindly call up or mail us

Happy Studying

N

9999886629

WEEK 5 : WELFARE ECONOMICS : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES

This week was my vacation time, my students have exams, so this time of the year, we have some time off, but in reality, I didn’t have much, just immediately after coming back, I sat with recording these videos. Particularly, I made videos on Pareto efficiency, I went deeper into the topic, covering Chapters 31, 32 and 33 from Varian. These still pertain to Topic 5, Welfare Economics, General Economics Paper I.

These are some of the most beautifully written chapters, with so much of information and concepts written in between the lines. When Varian writes, sometimes it is so crisp, that it will open up, only when you spend sometime with the text, trying to absorb it, slowly. You as a student and I as a teacher, should genuinely appreciate the amount of information given in these chapters and curiosity they build up, in us.

If we just cursorily look and read these topics, they will not make much sense, so my suggestion is, read them several times, slowly and write them alongside.

Pareto Efficiency Equation of a Contract Curve and Proof of a Walras Law

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Existence of a Competitive Equilibrium Proof and Numerical Examples

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First Welfare Theorem and Second Welfare Theorem

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Simple Monopoly and Discriminating Monopoly in Edgeworth Box

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Social Welfare functions and its Desirable properties and the statement of Arrow Impossibility theorem

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Different types of Social Welfare Functions and Welfare Maximisation 

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Fair Allocations : Pareto efficient as well as Equitable

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For any course related queries pls call us at 9999886629 or mail us

Happy studying

N