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

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