Index of Industrial Production (IIP): Demystified
IIP or Index of Industrial production registered an increase of 7.5 % in January 2018. This article attempts to demystify this economic indicator.
Economics
Why Angus Deaton got the Nobel Prize in Economics?
Angus Deaton won the Nobel prize in Economic sciences 2015 for his “analysis of consumption, poverty, and welfare.” Through his work, he tried to improve the accuracy of measurements of economic indicators like income, consumption, and poverty. His work has influenced policy-making in developing countries.
GDP and the various ways to calculate it- Explained
Gross Domestic Product is widely accepted as a measure of the economic development of a country. GDP measures both nation’s total output and income. There is a strong correlation between a country’s GDP and its standard of living. Countries that have high GDP like the US, UK, France, Germany, Japan, Singapore, etc have a higher …
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Changes in Methodology of Calculating GDP: India
Gross Domestic Product/ GDP is the final value of all goods and services produced in the economy in a given year. Before reading this article, I suggest you read this article: Gross Domestic Product (GDP) Demystified.
Inflation Demystified
What is inflation? In simple terms, inflation is the increase in the price of goods and services, and the inflation rate is the rate at which such increase takes place. Let’s say, the price of apple increases from Rs. 100 per kg to Rs. 110 per kg. It is inflation. The inflation rate of apples …