Academic-quality transformation tools for ungrouped numeric data in econometrics & statistics
Introduction to Microeconomic Household Fertility Theory The 3rd stage of Demographic Transition Theory marks the decline of birth rate with the increase in level of economic development. To explain this decline in birth rate we use Microeconomic Household Fertility Theory which is the application of consumer behavior in microeconomics. Microeconomic Household
Inflation Inflation is a sustained increase in the general price level of goods and services in an economy over time. When the general price level increases purchasing power of money decreases and each unit of money buys fewer goods and services. Thus, money losses its value. Prof. Coulborn defines inflation
In the previous post we study about Demographic Transition Theory. In this post we will discuss Introduction to Malthus Population Theory Thomas Malthus examined the relationship between population growth and food supply in his essay “The Principle of Population” in 1798. This theory has two core principles: Core Principles of Malthusian
In this post we will discuss the concepts of nominal GDP, real GDP, GDP deflator and inflation. Before going forward we must know what GDP is? Gross Domestic Product is the total market value of all final goods and services produced within a country in a year. To see more
In the previous couple of blogs, we discussed the Lewis Theory of Economic Development and International Dependence Model. In this blog our focus is on neoclassical long run economic growth model. Introduction of Solow Model of Economic Growth The Solow model of economic growth is a well-known Neoclassical exogenous growth model
