Undergraduate Economist (10 unread)

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• On Neo-classical economics

  Number of comments: 4
  This post is the first in the series- On Neoclassical Economics. This series attempts to look at the basic concepts of Neoclassicalism or Marginalism. The concepts that this series will cover are that of man being rational, measurement of utility, equilibrium from demand and supply, Micro and Macro economics and [...]

  Posted: September 07, 2007, 9:27am EDT by Alex M Thomas

• India: Public and Private spending on Health

  Number of comments: 8
  The following three maps will show us that, though the spending in health by the private sector is comparatively much larger than the public sector, yet HIV prevalence is very high in India. This shows the dire need for targeted public investment in health care. This is because private sector investment does not extend [...]

  Posted: July 15, 2007, 9:54am EDT by Alex M Thomas

• On Perfect Information

  Number of comments: 4
  Four persons A, B, C and D have to share Rs 4 among themselves in units of one rupee. First A proposes a distribution and all of them, including A vote on it. If at least 50% of those voting agree with A, the proposal is accepted. If not, A [...]

  Posted: July 03, 2007, 6:03am EDT by Alex M Thomas

• On History of Economic Thought

  Number of comments: 5
  Economics has been getting more mathematical with the passage of time. Students opt for maximum papers in mathematics so that they can remain competitive academically at the international level. Stark inequalities are present in the syllabi within India. In the South, the undergraduate degree does not lay much of emphasis on [...]

  Posted: May 24, 2007, 3:35am EDT by Alex M Thomas

• Marshallian Economics: Some thoughts

  This post deals with the discipline of Economics as to how Alfred Marshall saw it in 1890. Here are some of the excerpts which i found interesting. “Economics cannot be compared with the exact physical sciences: for it deals with the ever changing and subtle forces of human nature.” “It is essential [...]

  Posted: May 01, 2007, 10:41am EDT by Alex M Thomas

• Marshallian Economics: Some thoughts

  This post deals with the discipline of Economics as to how Alfred Marshall saw it in 1890. Here are some of the excerpts which i found interesting.

  “Economics cannot be compared with the exact physical sciences: for it deals with the ever changing and subtle forces of human nature.”

  “It is essential [...]

  Posted: April 30, 2007, 10:41am EDT by Alex M Thomas

• Market and the Government

  Number of comments: 8
  The conflicting ideologies in Economics have more or less revolved around mainly two institutions- Markets and Governments. The Capitalists believe ‘Markets’ to be the panacea for all economic problems, while the Socialists replace the ‘market’ with the ‘government’. On Markets Market is the institutional framework within which the act of exchange takes [...]

  Posted: April 16, 2007, 1:55am EDT by Alex M Thomas

• On Indian Agriculture

  Number of comments: 8
  There is a consensus about the crisis which the Agricultural sector is facing in India. The contribution to GDP has been falling and it is under 20% of the GDP now. The sector provides employment to about 60% of the population. Most of the farmers under this sector fall under [...]

  Posted: April 02, 2007, 8:28am EDT by Alex M Thomas

• On Veblen Effect

  Number of comments: 10
  Students of Economics have come across the ‘Veblen Effect’ while learning about the exceptions to the law of demand. The law of demand that ‘other things remaining the same, the demand for goods increased when price fell and vice versa.’ Veblen said that when prices of certain goods rose, their [...]

  Posted: March 18, 2007, 11:32am EDT by Alex M Thomas

• The Fellowship of Economics

  Number of comments: 9
  The essence of Economics or Political Economy as it was called earlier (According to Adam Smith) was to provide a good livelihood for the people and also to bring in money for the state. Nowadays, economics has got lot many divisions and specialities, that I feel the essence is getting [...]

  Posted: March 08, 2007, 12:27pm EST by Alex M Thomas

• India and it’s ‘Segregated Growth’

  Number of comments: 10
  This article tries to show that high rates of GDP in India need not trickle down to the rest of the masses and also strives to explain why ‘segregated growth’ further fuels inequality. By ‘segregated growth’, I refer to growth which takes place in sectors which employ relatively a small [...]

  Posted: February 28, 2007, 10:45pm EST by Alex M Thomas

• Is Consumer really the King?

  Number of comments: 10
  

  In free market economics, consumers dictate what goods are produced and are generally considered the center of economic activity. [Wikipedia]

  Is the price of commodities and services determined by the consumers? Does the consumer have significant control over the prices of good they purchase through their ‘purchasing power’? Or is [...]

  Posted: February 21, 2007, 3:32am EST by Alex M Thomas

• On Economic Growth

  Number of comments: 1
  

  ‘Economic Growth’ is a term which one often sees in the media. It is also looked at closely by the economists, the government and the people. Economic growth tends to show the rate of growth of an Economy

  The chart graphs the growth rate of the Indian Economy.

  What [...]

  Posted: February 13, 2007, 9:03pm EST by Alex M Thomas

• Kerala’s Economy: Crouching Tiger, Sacred Cows

  Number of comments: 10
  

   

  Kerala’s Economy: Crouching Tiger, Sacred Cows

  Edited by Sunil Mani, Anjini Kochar and Arun M. Kumar

  DC Books

  Price: Rs. 195

   

  This book contains articles which relate to the Economic development of Kerala. I have posted those facts and thoughts which I found interesting.

   

  Statistics

   

  The state has created 12% of all new [...]

  Posted: February 02, 2007, 11:58pm EST by alexmthomas

• On Inflation Targeting

  Number of comments: 10
  

  The rate of Inflation is of great concern to the Central Bank of a country as well as to its Government.

  This concern of the authorities is what makes ‘inflation targeting’ important. But should it be the only concern?

  What is ‘Inflation targeting’?

  Inflation targeting is a framework for operating monetary policy. [...]

  Posted: January 22, 2007, 9:53pm EST by alexmthomas

• The Political Economy of Singapore

  Number of comments: 4
  

   

  The Political Economy of Social Control in Singapore
  Christopher Tremewan
  1996

  Excerpts

  “Singapore has been widely seen as an economic miracle, a veritable and contentment.”

  “The Singapore state is the exclusive or major provider of infrastructure (utilities, communications, media, industrial estates, port and airport services) and of social services (housing, [...]

  Posted: January 14, 2007, 11:34am EST by alexmthomas

• The Economics of Remittances

  Number of comments: 10
  

  Definition

  According to Wikipedia, Remittances are transfers of money by foreign workers to their home countries. Remittances (also known as current transfers) include worker’s remittances and other private transfers on the current account. [Gupta 2006]

   

  The Indian scenario

  Remittances to India have increased at about 13 per [...]

  Posted: January 05, 2007, 11:54pm EST by alexmthomas