New Online Batches

Online Coaching for Indian Economics Services and Other Courses

IES, IAS Economics Optional & UGC Net Economics Preparation

Online Courses: Indian Economic Services, IAS Economics Optional, UGC Net Economics

December 02, 2021
NEW ONLINE BATCH : LIVE CLASSES : INDIAN ECONOMIC SERVICES 2021 / INDIAN ADMINISTRATIVE SERVICES (ECONOMICS OPTIONAL) : 5TH SEPTEMBER 2021, 9 AM
NEW ONLINE BATCH : LIVE CLASSES : INDIAN ECONOMIC SERVICES 2021 / INDIAN ADMINISTRATIVE SERVICES (ECONOMICS OPTIONAL) : 5TH SEPTEMBER 2021, 9 AM

Indian Economic Services Coaching with live online classes and separate platform for Recordings. Day/s of classes : Monday to Friday Timings : 10 AM tentatively Number of Classes per week : Five classes  Number of Hours per week : 5-6 Hours Online Platform : Yes Will I be given Recordings ? You will be given an online platform on which all recordings are uploaded. What if I miss any online class ? You are given recordings daily, so you need not worry about it. I cannot attend live classes, as I have college/ work etc? You are given recordings, and after going through recordings at your own pace, you can ask doubts on the platform What all you will cover in the course ? Paper 1, 2, 3 and 4 for IES and Complete Paper 1 and 2 for IAS Economics Optional Will it be strictly according to the syllabus? Yes, that is why, we have live classes. They (live classes) help in streamlining the course as we go on. Will you cover every topic in the live class? Mostly yes. Sometimes we will also be giving you recordings to be done before or after the class. They will also be uploaded in the same folder, where other current live classes are...

December 02, 2021
WEEK 7 (DAY 1) : THEORY OF DISTRIBUTION: GENERAL ECONOMICS PAPER 1-INDIAN ECONOMIC SERVICES
WEEK 7 (DAY 1) : THEORY OF DISTRIBUTION: GENERAL ECONOMICS PAPER 1-INDIAN ECONOMIC SERVICES

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 Product Exhaustion Theorem and Adding Up Problem Happy Studying For any queries related to the course, pls call us 9999886629

December 02, 2021
WEEK 6 : WELFARE ECONOMICS AND THEORY OF DISTRIBUTION : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES
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 Quasi Rent, Transfer Earning, Economic Rent Compensation Principle: Hicks Compensation Principle and Kaldor Neoclassical Theory of Distribution: Marginal Productivity Theory Product Exhaustion Theorem and Adding up Controversy Game Theory Concepts: Dominant Strategy Equilibrium and Nash Equilibrium Repeated Games, Sequential Games, Normal form games Mixed Strategy Equilibrium  For any queries regarding the course, kindly call up or mail us Happy Studying Nishant 9999886629

December 02, 2021
WEEK 5 : WELFARE ECONOMICS : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES
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 Existence of a Competitive Equilibrium Proof and Numerical Examples First Welfare Theorem and Second Welfare Theorem...

December 02, 2021
INDIAN ECONOMIC SERVICES : REVEALED PREFERENCE THEORY
INDIAN ECONOMIC SERVICES : REVEALED PREFERENCE THEORY

Revealed Preference Theory (IES 2019) Topic Discussed Revealed Preference Theory Assumption The principle of Revealed Preference Weak Axiom of Revealed Preference Past Year Questions Discussed Q 2 (c) IES 2019 An individual buys two goods X and Y at prices Px and Py. Check whether her behavior satisfies the Weak Axiom of Revealed Preference, given the following information: When (Px , Py) = (1, 2), (X, Y) = (1, 2) When (Px, Py) = (2, 1), (X, Y) = (2, 1) Elasticity of Demand and its relation with the Slope of Demand Curve (IES 2011, 2015, 2017, 2019) Topic Discussed Elasticity of Demand and Supply Price Elasticity of Demand Arc Elasticity Problems in using Arc Elasticity Point Elasticity of Linear Demand Curve Constant Elasticity Demand Curves Elasticity of Demand Curves Parallel to each other Elasticity of two intersecting Demand Curves Elasticity with Different Slopes of Demand Curves Past Year Questions Discussed Q 2(a) IES 2017 How can you measure the price elasticity of demand at any point on a straight line demand curve? Q 2(b) IES 2017 Compare between price elasticity at a given price and also at a given quantity for a set of parallel demand functions. Q 3...

December 02, 2021
INDIAN ECONOMIC SERVICES : INDIFFERENCE CURVE ANALYSIS AND UTILITY FUNCTION; DUALITY, INDIRECT UTILITY FUNCTION
INDIAN ECONOMIC SERVICES : INDIFFERENCE CURVE ANALYSIS AND UTILITY FUNCTION; DUALITY, INDIRECT UTILITY FUNCTION

Hello Guys, we have started our online classes again from 8th November this year. Here I am documenting what all we have completed this week, and within each class what is discussed, including the previous years questions which are discussed in each class/recording. You may look at this blogpost, as the set of question bank, when you are preparing your notes. I think I will take one more week to complete this topic 1, of Paper 1. This coming week I will be discussing Revealed preference approach, Elasticity of Demand and Supply (several questions are asked in previous years from this subtopic), and Game Theory concepts, Nash Equilibrium and Dominant Strategy Equilibrium Indifference Curve Analysis and Utility function (Part 1) : Rational Preferences, Diminishing MRS, Properties of Indifference Curves Topics discussed Consumption Set Consumer Preferences Rationality Axioms Utility Representation Indifference Curve and Marginal Utility Marginal Rate of Substitution Properties of Indifference Curve 2. Indifference Curve Analysis and Utility functions (Part 2) (Demand functions) (IES 2011, 2015, 2017, 2018, 2019, 2020) Topics Discussed Optimization Principle Utility Maximization Budget Constraint First order conditions for a maximum Second order conditions Perfect Substitutes Past Year Questions Discussed in this class/recording IES 2018, 9 (a) Consider...

December 02, 2021
WEEK 4 (DAY 3 TO 7) : THEORY OF VALUE AND WELFARE ECONOMICS : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES
WEEK 4 (DAY 3 TO 7) : THEORY OF VALUE AND WELFARE ECONOMICS : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES

In the last week, days 3 to 7, I completed videos pertaining to Theory of Value and have started Welfare economics, simultaneously. Some topics like Marshallian and Walrasian stability, cross subsidy free pricing are left, that I will be covering this week and will go deeper into welfare economics. Sometimes, when I read the syllabus, I have a feeling, that it could be more properly arranged, for example, before talking about externalities, we should discuss Pareto efficiency in detail; also before doing aggregation problem in welfare economics, Pareto efficient needs to be done more thoroughly. There is part 4, of Paper 1, Theory of Distribution. That I will be doing in the last, once, I have completed Welfare economics and Public goods and externalities. Also, while doing theory of Value, I thought of recording ancillary topics like product differentiation, entry deterrence, collusion etc, but then they should be rather placed in Industrial economics, in Paper 3. Following are snapshots of recordings done in these days Cournot Equilibrium Natural Monopoly and Average Cost and Marginal Cost Pricing Intertemporal Choice Part 1 Intertemporal Choice Part 2 Pareto Efficiency Meaning and Introductory Concepts

December 02, 2021
WEEK 4 (DAY 1 AND 2) : THEORY OF VALUE : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES
WEEK 4 (DAY 1 AND 2) : THEORY OF VALUE : GENERAL ECONOMICS PAPER I : INDIAN ECONOMIC SERVICES

When I start writing notes for these videos, sometimes I get too consumed in the depth I can cover, but then nearly every time, I have to remind myself, that I have to stick to the syllabus which is given. While doing Cournot, or Bertrand or Stackelberg Model, there is so much, which I can discuss, but then given the trends in the past years and syllabus, have to restrain myself. Also, while making these videos, I realised that it will be better, if we make notes in a question and answer format, it will have a better retention. In Indian economic services paper, this covers a part of Theory of Value (Pricing under different market forms) Following questions, which were answered in today’s recordings are these : How does Cournot output in equilibrium compare with that of the perfect cartel? Explain mathematically and graphically. 2. Suppose market demand function is p(Q) = a-bQ, where b > 0. There are two firms, i =1,2. The cost function of the ith firm is Ci(qi) = c.qi. Derive equilibrium output, price and industry profits under following assumptions : Bertrand Cournot Perfect cartel 3. Analytically show that the Nash equilibrium in Bertrand equilibrium, with...

December 02, 2021
WEEK 3 : THEORY OF VALUE : GENERAL ECONOMICS PAPER I (INDIAN ECONOMIC SERVICES)
WEEK 3 : THEORY OF VALUE : GENERAL ECONOMICS PAPER I (INDIAN ECONOMIC SERVICES)

My apologies for being little late in posting this weekly post. I was little occupied with ECOPOINT classes, so didn’t get the time to post it here. I started with Topic 3, Theory of Value, General Economics Paper 1, Indian Economic Services. I like this topic, there is a lot of room to play and discuss so many things, but I have kept myself restricted to the syllabus defined. In the syllabus, there is a subtopic, Pricing in different markets, now this involves detailed discussion of how optimal price is arrived in different market forms, perfect competition, we have already discussed, the thing which is left is, Imperfect market forms viz. Monopoly, Price discrimination in Monopoly, Peak Load pricing and Marginal cost Pricing and Natural Monopoly dilemma. These were the topics which I discussed this week. After explaining the model, have discussed the numerical example for each, to give a broader and better understanding of each of them. This week, I didn’t record any IES past years papers, will be doing them in the coming week. I wanted to cover some room first and then move on to the past years. I will be doing the same topic 3, next...

December 02, 2021
WEEK 2 : THEORY OF PRODUCTION : GENERAL ECONOMICS PAPER I (INDIAN ECONOMIC SERVICES)
WEEK 2 : THEORY OF PRODUCTION : GENERAL ECONOMICS PAPER I (INDIAN ECONOMIC SERVICES)

This was a Diwali week, so it took a real effort to bring myself on the recording table time and again and record these. But you know, doing these recordings and teaching a class, is the best part of the day. I did, Theory of Cost, but apparently, this topic was not sufficiently separated in the syllabus, but they did ask questions, however sparingly these last years. There was only one topic, assigned specifically to Duality and Cost, and there was a question last year (2019) from it. I have also dealt with the same in the second heading, named Cost Functions for Perfect Complements, Perfect Substitutes and Max Functions. Again I took a lot of help of Nicholson & Snyder and Varian, while making these. Questions from this topic, which were asked in previous years, I will be covering next week. Cost Minimization Cost Functions for Perfect Complements, Perfect Substitutes and Max Functions Demand function and elasticity in a perfectly competitive market Unconditional Input demand functions Example Sheppard’s Lemma and Contingent Input Demand Functions Unconditional Input demand functions and SR Marginal cost function Example Short Run Supply Curve and Shutdown Point Shutdown price and Minimum efficient scale of production...