- if , then your debt is stable, where is growth rate and is rate of interest
- external debt and external deficit.
- The three kinds of policies are interlinked
- The three variables are interlinked
resource econcore
Questions
- current account and … deficit are the same or no?
What is Public Economics?
- Wagner’s theory: Activity of government due to the
- Wiseman Econ hypothesis
- Today, “One Nation, One Election” was passed
- Citizenship amendment act
The scope of the government have increased a lot in the recent times
The role of the government is “minimum intervention of the government”. Generating employment (Digging the hole and filling it) after the great depression.
The four questions:
- When should the govt intervene in the economy?
- How might the government intervene?
- What is the effect of those interventions on economic outcomes?
- Why do governments choose to intervene in the way tat they do?
The recent Nobel prize in Economics.
The happiest country in the world?
RCT: Randomized Control Intervention?
Read on Methodologies that are useful in research
The mission statement of Ram Krishna Mission?
- Public good has two characteristics:
- Non excludable: I cannot exclude anyone from consuming that particular good.
- Non rivalrous: My consumption should not affect others’ consumption.
- After a certain extent, a public good loses its NR quality. E.g. roads are open to all, but if everyone uses it at the same time, it becomes rivalrous, traffic jams start to occur.
- Defense is an example that will always be a public good.
- Private good has two characteristics:
- Excludable:
- Rivalrous:
- Club Good
- Private Beach and private park
- Common Good
- Fishing in a pond, the pond is public but the fishes are limited.
What is Merit good?
| R | NR | |
|---|---|---|
| E | Private Good | Club Good |
| NE | Common Good | Public Good |