These are few demo videos which we have created. They are helpful to you if you are preparing for Indian Economic Services (IES), IAS Economics Optional or UGC NET Economics. They will be even more helpful, if you make notes while reading the text alongside.
Intermediate Microeconomic Theory I
Here we have provided set of demo videos for Intermediate Micro 1 course. Topics such as Consumer Theory and Producer Theory is completed in this series. These videos are arranged in the order in which they should be done. Pick up your pen and register, and start writing them out. Nothing is difficult, anything could be learned, put your effort in this and start making notes.
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Cobb Douglas Utility function : Demand curve /Normal Good/Substitutes or Complements/Elasticity |2|
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Perfect Complements Utility |Demand curve /Normal Good/Elasticity/Engel Curve/ Income Offer Curve|3|
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Demand function for Perfect Substitutes and One Simple Application | 4 |
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Quasilinear Preferences, Income Offer curve and Engel Curve. | 5 |
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Indifference Curves : Tangency Condition and Optimal Choice | 6 |
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Corner Solutions in Indifference Curve (Part 1) :U = max{x,y} | 7 |
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Corner Solutions in Indifference Curve (Part 2) : U = x^2 + y^2 |Concave Preferences| | 8 |
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Corner Solutions|Indifference Curve :(Part 3)|lexicographic Preferences| Economic Bads| Neutral |9|
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Monotonicity of Preferences | Why Indifference Curves are Downward Sloping| | 10 |
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Averages are preferred to extremes | Well Behaved Preferences| |11|
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Diminishing MRS | Numerical Examples | Test of Diminishing MRS | |MRS as the ratio of MU | |12|
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Monotonic Transformation of a Utility Function | Meaning | Definition | Example | 13 |
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Homethetic Preferences (Part 1) | Meaning | Definition | Simple Proof | 14 |
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Homethetic Preferences (Part 2)|All Homogenous are Homothetic|Not all Homothetic are Homogenous|15|
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Homothetic functions(Part 3)| Income expansion Path | Elasticity |Constant MRS along a ray |16|
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Weak Axiom of Revealed Preference | Meaning | Example | 17 |
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Weak Axiom of Revealed Preference (Part 2) | Violation of WARP | 18 |
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Weak Axiom of Revealed Preference (Part 3) | Violation of WARP Numerical Example | 19 |
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Revealed Preference (Part 4) | Strong Axiom of Revealed Preference | Meaning | Numerical | 20 |
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Substitution Effect and Income Effect |Meaning | Diagram | Simple Numerical Example | 21 |
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Sign of Substitution Effect | Revealed Preference Argument | 22 |
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Hicksian Substitution Effect| Non Positive Nature of Hicksian Substitution Effect | 23 |
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Slutsky Identity | Slutsky Equation | Normal goods | Inferior Goods | Giffen Goods| 24 |
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Substitution effect & Income Effect | Perfect Complements | Perfect Substitutes | Quasilinear | 25 |
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Intertemporal Choice | Budget Constraint | Present Value Form and Future Value Form | 26 |
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Intertemporal Choice | When Lender remains a lender | When Borrower remains a borrower| 27 |
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Intertemporal Choice and Slutsky Equation | 28 |
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Index numbers | Revealed Preference | Lasperyers and Paasche Quantity Index | 29 |
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Index numbers | Revealed Preference | Lasperyers and Paasche Price Index | 30 |
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Intertemporal Choice | Kinked Budget Constraint | Numerical Example | 31 |
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Work Leisure Choice (Part 1) | Budget Constraint | Labour Supply | Numerical Example | 32 |
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Work Leisure Choice Part 1 | Budget Constraint | Labour Supply | Numerical Example | 32 | HINDI |
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Backward Bending Supply Curve of Labour | Work Leisure Choice (Part II) | | 33 |
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Overtime Wages and Pure Substitution Effect | Work Leisure Choice (Part 3) | 34 |
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Choice Under Uncertainty | Part 1 | Meaning of Expected Value and Expected Utility | 35 |
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Choice Under Uncertainty | Part 2 | Risk Averse Individual and Fair Bet | 36 |
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[Choice Under Uncertainty] | Part 3 | Risk Aversion | Risk Premium | Certainty Equivalence | 37 |
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[Choice Under Uncertainty] Part 4 | Demand for Insurance | Actuarially Fair Insurance Premium | 38 |
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Production Theory Basics | Part 1 | Production Function | Isoquant | MRTS | 39 |
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[Production Theory Basics] | Part 2 | Relation between Diminishing MU and Diminishing MRTS | 40 |
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[Production Theory Basics] | Part 3 | Returns to Scale | CRS | IRS | DRS |
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[Production Theory Basics] Elasticity of Substitution | High & Low elasticity of substitution | 42 |
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Examples of Elasticity of Substitution | Cobb Douglas | Perfect Complement | Perfect Substitutes|43|
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[Production Theory Basics] [Part 6] Technical Progress using the production function concept | 44 |
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[Production Theory Basics] Part 7 | Numerical Examples from Production Theory | 45 |
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[Cost Theory Basics] Meaning of Cost Minimisation | Tangency between Isocost Line and Isoquant |46|
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Derivation of Cost function from production function | Cobb Douglas | Perfect Complements |47|
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[Cost Theory Basics] [Part 3 ] |Conditional Input Demand Function Responses |Comparative Statics|48|
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[Cost Theory Basics] [Part 4] Short run and Long Run Costs | Cobb Douglas Production function | 49 |
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[Cost Theory Basics] [Part 5] Relation between AC and MC | Interpretation | Numerical Example | 50 |
Intermediate Microeconomic Theory II
Here we have provided set of demo videos for Intermediate Micro 1 course. Topics such as General Equilibrium Theory and Welfare Economics, Markets and Game Theory.
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Basics of Edgeworth Box Diagram | Net Buyer | Net Seller | Feasible Allocation | 1 |
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Meaning of Pareto Efficient Allocation |2|
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Examples of Pareto Efficiency | Numerical | Cobb Douglas- Cobb Douglas | Cobb Douglas - Min | 3 |
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Competitive Equilibrium Condition MRS 1 = MRS 2 = Price Ratio | 4 |
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[Microeconomics II] Walras Law | Value of Aggregate excess demand vector is zero at all prices | 5 |
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[Microeconomics II] Numerical | Competitive Equilbrium Price and Allocation | 7 |
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[Microeconomics II ] Walras Law | Another Proof | 6 |
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[Microeconomics II] First Welfare Theorem | Proof | All Market Equilibrium are Pareto efficient |8|
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[Microeconomics II] First Welfare Theorem | Simple Monopoly Case | 9 |
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[Microeconomics II] First Welfare Theorem | Part 3 | Perfectly Discriminating Monopolist | 10 |
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[Microeconomics II] Second Welfare Theorem | Convex Preferences | Non Convex Preferences | 11 |
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[Microeconomics II] Welfare Economics | Aggregation of Preferences | Majority Voting Method | 12 |
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[Microeconomics II] Welfare Economics | Rank Order Voting | Condorcet Paradox | Borda Count | 13 |
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[Microeconomics II] Welfare Economics | Arrow Impossibility Theorem | Meaning | Part 1 | 14 |
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[Microeconomics II] Welfare Economics | Arrow Impossibility Theorem | Part 2 | 15 |
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[Microeconomics II] | Types of Social Welfare Functions | Benthamite | Rawlasian | Nietzsian |16 |
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[Microeconomics II]Maximization of Welfare | Utility Possibility Frontier | Iso Welfare curves |17|
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[Microeconomics II] | Any Pareto Optimal Allocation must be Welfare Maximizing for some SWF | 18 |
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[Game Theory Introduction] | Dominant Strategy Equilibrium | Meaning of Nash Equilibrium | 19 |
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[Basics Of Game Theory] | Is Nash Equilibrium Unique and Pareto optimal | Will it always exist |20|
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[Game Theory Basics] Mixed Strategy Nash Equilibrium Example | Best Response Functions | 21|
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[Game Theory Basics] Sequential Form Games | Battle of Sexes | Non Credible Threat | 22 |
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[Game Theory Basics] Subgame Perfect Nash Equilibrium Example | Wrting Strategies of Players | 23 |
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Perfect Competition | Part 1| Features | Demand Curve of a Firm in Perfect Competition | 24 |
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Market Structures Basics | Part 2 | Perfect Competition | Profit Maximizing Condition P= MC | 25 |
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Market Structures Basics | Part 3 | P= MC is not a sufficient condition | Shut Down Point | 26 |
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Market Structures | Part 4 | Perfect Competition |Producer Surplus = Profits plus Fixed Costs | 27 |
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Market Structures | Part 5 | Perfect Competition| Numericals| Supply Function | Producer Surplus|28|
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Market Structures Basics | Part 6 | Marginal Revenue and Elasticity | Perfect Competition | 29 |
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Market Structures | Part 7| Profit Maximization | Example | Cobb Douglas Production Function | 30 |
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Market Structures | Part 8 | Short Run Profit Maximization |Value of Marginal Product = wage| 31 |
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Market Structures | Part 9 | Isoprofit Lines and VMP=W condition | Comparative Statics | 32 |
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Market Structures | Monopoly | Part 1 | Meaning of a Monopoly and Barriers to Entry | 33 |
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Monopoly | Part 2| Monopoly Profit Max | Monopolist will never operate at inelastic portion | 34 |
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Market Structures Basics | Monopoly | Part 3 | Meaning and Derivation of Lerner's Index | 35 |
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Market Structures | Monopoly | Part 4 |Deadweight loss of Monopoly | Inefficiency of a Monopoly |36|
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Market Structures | Monopoly | Part 5 | Monopoly and Product Quality | 37|
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Monopoly | Part 6 | First Degree (Perfect) Price Discrimination | No Deadweight loss | 38 |
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Monopoly | Part 7 | Third Degree Price Discrimination | Meaning | Mathematical Condition | 39|
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Monopoly | Part 8 | Calculating Third Degree Price Discrimination | Uniform Pricing |40 |
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Monopoly | Part 9 | Natural Monopoly | Meaning | Features | Diagram | 41 |
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[Market Structures] Oligopoly | Part 1 | Bertrand Equilibrium | Proof of Bertrand Nash P=MC | 42 |
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Oligopoly Market Structures | Part 2 | Bertrand Paradox | Avoid Bertrand Paradox | 43 |
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Oligopoly |Part 3 | Market Structures | Cournot Equilibrium | Numerical | Efficiency | 44 |
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[Market Structures] Oligopoly | Part 4 | Bertrand vs Cournot Comparison. |45 |
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[Oligopoly Market Structures] | Part 5 | Capacity Constraints under Bertrand Competition | 46 |
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[Oligopoly Market Structures] | Part 6 | Bertrand Competition with Differentiated Products | 46 |
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[Oligopoly Market Structures] | Part 7 | Tacit Collusion | Finitely Repeated Game | 48 |
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[Oligopoly Market Structures ]( Part 8) | Tacit Collusion | Infinitely Repeated Game | 49 |
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Asymmetric Information | Examples | Meaning | Part 1 | 50 |
International Trade Theories
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International Trade | Law of Absolute Advantage | Meaning | Gains from Trade | 1 |
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[International Trade] Law of Comparative Advantage | Meaning | Gains from Trade | 2 |
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[International Trade] Ricardian Model |Part 1| Production Possibility Frontier in Home & Foreign |3|
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[International Trade] Ricardian Model | Part 2 | Autarky and Free Trade Equilibrium Price | 4 |
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[International Trade] Ricardian Model | Part 3 |Relative Supply and Demand Curves in Autarky | 5 |
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[International Trade] Ricardian Model |Part 4 | World Relative Supply and Demand under Free Trade|6|
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[International Trade] Ricardian Model | Part 5 | Numerical Question | World Relative Supply | 7 |
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International Trade [Ricardian Model]|Part 6| Numerical |Comparative Advantage| Gains from Trade|8|
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[International Trade] Ricardian Model | Part 7 | Relative Wages | 9 |
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[International Trade]Ricardian Model | Part 8 | Equilibrium Relative Prices |10|
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[International Trade]Specific Factors Model | Part 1 | | Meaning | Assumptions | 11 |
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[International Trade] Specific Factors Model | Part 2 | Production Possibilities Frontier | 12 |
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[International Trade] Specific Factors Model | Part 3 | Prices, wages and Labour Allocation | 13 |
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Specific Factors Model |Part 4 |Impact on Income Distribution due to change in Relative Prices |14|
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[International Trade]|Specific Factors Model | Part 5 | Trade in Specific Factors Model | 15 |
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[International Trade] Specific Factors Model | Part 6 | Income Distribution and Gains from Trade|16|
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[International Trade] Specific Factors Model | Part 7 | International labour Mobility | 17 |
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[International Trade] Heckscher Ohlin Model | Part 1 |Meaning &Comparison with Ricardian Model |18 |
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Stolper-Samuelson Theorem and Magnification Effect of Prices| Meaning and Intuition | H-O Model |19|
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[International Trade] Heckscher-Ohlin Model(Part 3) Meaning of Factor Price Equalisation Theorem|20|
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[International Trade] Heckscher-Ohlin Model | Part 4 | Assumptions of HO Theorem and Kinked PPC |21|
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Heckscher-Ohlin Model | Part 5 | PPF | Isovalue line | Factor Intensity | Relative Abundance | 22 |
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H-O Model | Part 6 | Relation between Input price & commodity price | Rybczynski Effect | 23 |
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Heckscher Ohlin Model | Part 7 | Statement of H-O Theorem | Convergence of Relative Prices | 24 |
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[International Trade] HO Theorem | Part 8 | Meaning of Factor Price Equalisation Theorem | 25 |
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[International Trade] H-O Theorem | Part 9 | Meaning of Rybczynski Theorem | 26 |
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[International Trade] H-O Theorem (Part 10) | Leontief Paradox | Factor Intensity Reversal | 27 |
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Standard Trade Model | Part 1 | Relative Price, Relative Supply, Relative Demand | 28 |
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Standard Trade Model |Part 2|Terms of Trade |Strongly-Mildly Biased|Export-Import Biased Growth |29|
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International Trade | Standard Trade Model [Part 3] Immiserizing Growth | Meaning | 30 |
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Standard Trade Model | Part 4 | Import Tariff | Export Subsidy | Terms of Trade | 31 |
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Standard Trade Model | Part 5 | Implication of Terms of Trade due to Import Tariff | 32 |
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Standard Trade Model | Part 6 | Implication of Terms of Trade Effects due to Export Subsidy | 33 |
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[International Trade] Instruments of Trade Policy | Import Quota | 34 |
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[International Trade] External Economies of Scale | Sources | Market Equilibrium | 35 |
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External Economies of Scale | International Trade | Pattern of Trade | Historical Contingency | 36 |
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[International Trade]When Trade based on External economies is not necessarily welfare improving|37|
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External Economies of Scale |Dynamic Increasing Returns | Learning Curve | Infant Industry Arg |38|
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[International Trade] Internal Economies of Scale | Market Equilibrium | CC Curve | PP Curve | 39|
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Internal Economies of Scale | Trade in Monopolistic Competition | Increase in Market Size | 40 |
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Internal Economies of Scale | Firm Responses to Trade | Trade affecting Industry Performance | 41 |
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Internal Economies of Scale | Effects of Increase in Market Size| Gainers and Losers | 42 |
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Internal Economies of Scale | Trade Costs and Export Decisions by Firms | 43 |
Introductory Econometrics and Statistics
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[Econometrics] Population Regression Line | Meaning | Stochastic PRF | Non Stochastic PRF | 1 |
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[Econometrics] Sample Regression Function | Nature of Stochastic Error Term | 2 |
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[Econometrics] Linear in Parameters | Method of OLS | Estimation Intercept and Slope terms | 3 |
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[Econometrics] Properties of Regression Line | 4 |
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[Econometrics| Assumptions of CLRM | Classical Linear Regression Model | 5 |
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[Econometrics] Unbiasedness of Slope Estimator | Simple Proof | 6 |
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[Econometrics] Variance of Regression Coefficients | Slope estimator | beta two hat | 7 |
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[Econometrics] Gauss Markov Theorem | PART 1 | Unbiasedness | Variance of beta 2 hat | | 8 |
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[Econometrics] Gauss Markov Theorem | Part 2 | Proof | Minimum Variance | | 9 |
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[Econometrics] Coefficient of Determination r2 | TSS = ESS + RSS | 10 |
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[Econometrics] Regression through Origin | Without Intercept Model | 11 |
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[Econometrics] Scaling and Units of Measurement | 12 |
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Introductory Econometrics | Functional Forms | Log Lin Model | Meaning and Interpretation |13 |
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Introductory Econometrics | Functional Forms | Log Lin Model How to calculate growth rates | 14 |
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Introductory Econometrics | Functional Forms | Lin Log Model | Meaning and Interpretation | 15 |
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Introductory Econometrics and Statistics | Random Variable | Bernoulli Random Variable | 16 |
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Econometrics & Statistics | Discrete Random Variable & Probability distribution function | 17 |
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Econometrics and Statistics | Cumulative Distribution Function | Example | 18 |
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Econometrics and Statistics | Continuous Random Variable | Probability Distribution Function |19|
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Econometrics and Statistics | Mathematical Expectation of a discrete random variable | Examples|20|
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Econometrics and Statistics | Variance of a discrete random variable | Bernoulli rv | 21 |
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Econometrics and Statistics | Questions on Variance of discrete rv | Change of origin and scale |22|
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Introductory Econometrics and Statistics | Continuous Probability Density functions | Examples | 23|
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Cumulative Density function of a Continuous Random Variable | Examples | 24 |
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Econometrics and Statistics | Expectation of a continuous random variable | Examples | 25 |
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Deleted video
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Joint Probability Distribution | Discrete random variable | Definition | Example | 26 |
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Joint Probability Distribution & Joint Cumulative Distribution Function | Discrete rv | 27 |
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Joint Probability Density Function of a continuous random variable | Definition | Example | 28 |
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Marginal Distribution Function | Marginal Density Function | 29 |
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Introductory Econometrics and Statistics | Conditional Distribution | Definition | Example | 30 |
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Introductory Econometrics and Statistics | Moments about Origin and Arbitrary Point | 31 |
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Moments about Mean | Central Moments | Meaning , Definition and Basic Properties | 32 |
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Introductory Econometrics and Statistics | Properties of Moments about mean and origin | Part 2 |
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Introductory Econometrics and Statistics | Numerical on Moments about mean and origin | 34 |
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Skewness | Meaning and Types | Formula | Positively Skewed | Negatively Skewed | 35 |
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Measures of Skewness | Karl Pearson's measure of Skewness | Bowley's measure of Skewness | 36 |
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Kurtosis | Meaning | Types | Mesokurtic | Leptokurtic | Platykurtic | 37 |
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Binomial Distribution | Mean and Variance | Meaning | Difference from Bernoulli distribution | 38 |
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Multinomial Distribution | Meaning | Example | 39 |
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Negative Binomial Distribution | Meaning | Example | 40 |
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Geometric Distribution | Meaning | Example | 41 |
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Poisson Distribution | Meaning | Examples |42 |
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Normal Distribution | Meaning | Characteristics | Part 1 | 43 |
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Normal Distribution | Simple Example | Part 2 | 44 |
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Standard Normal Distribution | Meaning | Table | Example | Part 3 |
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Student t-distribution | Meaning | Difference from Normal Distribution | 46 |