Author:

Functions and importance of Financial System

The financial system helps production, capital accumulation and growth by  Encouraging savings Mobilising them Allocating them among alternative uses and users. Each of these functions is important and the efficiency of a given financial system depends on how well it performs each of these functions. Inducement to save : the financial system promotes savings by providing …

Money and Financial Intermediaries

Money  Money is anything that is generally acceptable as a means of payment in the settlement of all transactions, including debt. It is the commonly used medium of exchange or means of transferring purchasing power. General acceptability as a means of payment or as a medium of exchange is the unique feature of money. This makes …

CDS Previous Year’s Question Papers

CDS MPhil/Phd Entrance Previous Year’s Question Papers MPhil/Phd CDS Entrance Question Paper 2014 MPhil/Phd CDS Entrance Question Paper 2015 MPhil/Phd CDS Entrance Question Paper 2016 MPhil/Phd CDS Entrance Question Paper 2017 MPhil/Phd CDS Entrance Question Paper 2018  

Properties of Good Estimator

Small Sample properties Unbiased Estimator : Biased means the difference of true value of parameter and value of estimator. When the difference becomes zero then it is called unbiased estimator. i.e., Best Estimator : An estimator is called best when value of its variance is smaller than variance is best. i.e . Where   is another estimator. Efficient Estimator : …

Gauss-Markov Theorem

Given the assumptions of the classical linear regression model, the least-squares estimators, in the class of unbiased linear estimators, have minimum variance, that is, they are BLUE. In other words Gauss-Markov theorem holds the properties of Best Linear Unbiased Estimators. Following are some of the assumptions which should be taken into consideration for the mathematical derivation …

Expected Values or Mathematical Expectations

The expected value, or mean, of a random variable is a measure of the central location for the random variable. The formula for the expected value of a discrete random variable X follows. Expected value of a discrete random variable X can be written as i.e., Properties of Mathematical Expectations 1. The expected value of constant …

Basic Competitive Models

Basic competitive models gives an answer of the control problems of an economy i.e., who makes the decision of what to produce, how to produce and for whom to produce. We know that, economics has been evolved and developed in the framework of a free market economy in which the resources of the society are owned …

Probability Definitions

The term probability has been interpreted in terms of four definitions : 1. Classical Definitions : the classical definition states that if an experiment consists of ’S’ outcomes which are mutually exclusive, exhaustive and equally likely and  of them ate the favourable outcomes of an event A then the probability of the event is In other …

Karl Marx Theory of Development

The thought about economic growth of Karl Marx is published in his famous book “Das Kapital”. According to Karl Marx there are five stages through which an economic development takes place. 1.PREMITIVE SOCIETY It is the uncivilised portion/part of the economy in the process of development. In this stage people live in  forest and survive  on …