Economics studies how individuals, businesses and government make choices in face of scarcity. Microeconomics focuses on small-scale economic activity, whereas macroeconomics examines the entire economy. In this post, we’ll look at what macroeconomics is, how it differs from microeconomics, and why it’s important for understanding the world we live in.
Countries are often classified by levels of income and human development. They are also grouped by levels of poverty, quality of governance, and many other dimensions. The most common way to compare countries is to compare their average income that is Gross National Income Per Capita. The World Bank classifies
Introduction Welcome to the fascinating world of econometrics! Studying econometrics bridges the gap between being a student of economics and becoming a practicing economist. It equips you with essential tools for analyzing economic data, empirically testing economic theories, providing numerical estimates of economic relationships, and forecasting future events. In this
