Day to day economics
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Inflation is defined as a sustained rise in the general price level. The document discusses demand-pull and cost-push inflation. It provides the example of the formation of OPEC in 1960 leading to an oil price rise, which increased production costs and caused a global supply shock that resulted in cost-push inflation.
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MDU Macroeconomics
This document summarizes key points from an economics lecture on inflation. It defines inflation as a general increase in prices as measured by the consumer price index. It discusses how inflation relates to the business cycle, with more rapid inflation typically occurring as the economy approaches the peak of the cycle. It also distinguishes between cyclical inflation that occurs over the business cycle and structural inflation that persists throughout the ups and downs. Additionally, it notes that inflation can increase due to various factors like wars or supply constraints and that inflation reduces purchasing power over time.
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This document summarizes key points from an economics lecture on inflation. It defines inflation as a general increase in prices as measured by the Consumer Price Index. It discusses how inflation relates to the business cycle, with more rapid inflation typically occurring as the economy approaches the peak of the cycle. It also distinguishes between cyclical inflation that occurs over the business cycle and structural inflation that persists throughout the ups and downs. Additionally, it notes that inflation can increase due to various factors like wars or supply constraints and that inflation reduces purchasing power over time.
Inflation
This document defines inflation and describes its types including creeping, walking, running, galloping, and hyper inflation. It lists causes of inflation such as demand pull, cost push, money supply expansion, population increase, and credit expansion. Methods to measure inflation and India's inflation rates are presented. Reasons for India's high inflation in the 1990s and post-1991 are discussed, including balance of payments changes, fiscal deficit, rupee depreciation, and global oil price increases. In conclusion, pre-reform inflation was due to domestic factors while post-reform inflation is more influenced by global scenarios.
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China is about one decade ahead of India economically. While Chinese communism involves the state taking control of resources, American capitalism involves overworking resources to maximize profit even at the cost of their health. Indian capitalism involves worshipping resources rather than being overly productive. The investment climate has been more welcoming in China compared to India, where excessive bureaucracy has hampered growth.
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MDU Macroeconomics
This document summarizes key points from an economics lecture on inflation. It defines inflation as a general increase in prices as measured by the consumer price index. It discusses how inflation relates to the business cycle, with more rapid inflation typically occurring as the economy approaches the peak of the cycle. It also distinguishes between cyclical inflation that occurs over the business cycle and structural inflation that persists throughout the ups and downs. Additionally, it notes that inflation can increase due to various factors like wars or supply constraints and that inflation reduces purchasing power over time.
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This document summarizes key points from an economics lecture on inflation. It defines inflation as a general increase in prices as measured by the Consumer Price Index. It discusses how inflation relates to the business cycle, with more rapid inflation typically occurring as the economy approaches the peak of the cycle. It also distinguishes between cyclical inflation that occurs over the business cycle and structural inflation that persists throughout the ups and downs. Additionally, it notes that inflation can increase due to various factors like wars or supply constraints and that inflation reduces purchasing power over time.
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This document defines inflation and describes its types including creeping, walking, running, galloping, and hyper inflation. It lists causes of inflation such as demand pull, cost push, money supply expansion, population increase, and credit expansion. Methods to measure inflation and India's inflation rates are presented. Reasons for India's high inflation in the 1990s and post-1991 are discussed, including balance of payments changes, fiscal deficit, rupee depreciation, and global oil price increases. In conclusion, pre-reform inflation was due to domestic factors while post-reform inflation is more influenced by global scenarios.
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The document discusses ideas for helping young academics develop their professional networks abroad. The three favorite ideas are: 1) Creating an academic exchange program that promotes cooperation between universities by exchanging graduate students and professors. 2) Developing an "academic couch surfing" system to foster deeper bonds by hosting visiting scholars in their homes. 3) Strengthening university career and international centers to better assist students with developing academic careers and networks through exchange programs and connecting professionals.
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Day to day economics
- 1. Day to Day Economics Anatomy of Inflation
- 2. What is inflation… Inflation is a sustained and overall rise in the general price level. • Demand-pull inflation. • Cost-push / Supply shock inflation.
- 3. Case Study The formation of the OPEC in 1960 and the subsequent price rise in oil lead to a major increase in the cost of production of many energy-related commodities leading to a supply shock all over the world and consequently a cost-push inflation.