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Principles Of Economics

IIT Madras, , Prof. Sabuj Kumar Mandal 0.0 ( Reviews) Students Enrolled

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Updated On 02 Feb, 19

Overview

In this course, I discuss the important concepts and principles of economics to understand how the economic agents take economic decisions and the economy as a whole works. I discuss the concepts like demand, supply and elasticity to understand how consumers take decision to buy, how the producers take decision to supply and gains from trade arises. Implications of government policies are also using simple tools of demand and supply. Theories of production and cost is discussed to understand firms behavior in different market condition. At the macro level, I discuss how the nations income is measured, financial system and the monetary system. A successful completion of this course will help students taking better economic decisions in their lives and understanding the implications several public policies from economists perspective.