Economics for Begginers

Friday, 7 April 2023

Here are some video lectures on Econometrics

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Types of variables ( Real vs Nominal)

Imagine A very simple country where only bread is produced and the production of bread requires labor and capital. Let say price of bread in...
Types of Variables (Stock vs Flow)

One of the various types of variables that we encounter in economics is the Stock and Flow variable. The main difference between these var...
Microeconomics vs Macroeconomics

Once we know what economics is we come to its two major but inter-related fields, Microeconomics and Macroeconomics. Microeconomics I...
Is Economics Normative or Positive?

You can mostly distinguish normative and positive statements of economics from the type of questions it answers. Normative economics is al...
What is Economics?

A very Simple Definition of Economics would be that it is the "Science of Scarcity and Choice" Scarcity means that resources ...
Economics, Models and Reality

Economic Models Have you ever observed children playing together when they make a small mud or wooden house? If you watch them closely...
'Gross Domestic Production' defined

Gross Domestic Production Gross domestic production is defined as " The monetary value of all final goods and services produced ...
Is Consumer Price Index (CPI) and Inflation the same thing?

Consumer Price Index (CPI) and Inflation are often confused with each other but they are not the same thing. Consumer Price Index (CPI) ...
Videos on Econometrics

Here are some video lectures on Econometrics

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