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