This is an Introduction to Macroeconomics. What is macroeconomics? Macroeconomics is a study of the economic system as a whole. It focuses on overall…
Professor Vasily W. Leontief pioneered input-output analysis technology in 1951. An input is a product or product of an entrepreneur or manufacturer that is…
What are the 4 Phases of Business Cycle? Let’s Discuss. There are four main stages in a business cycle. A business cycle refers to…
The functions of commercial banks can be divided into three main parts. Primary FunctionAgency ServicesGeneral Utility Services Functions of Commercial Banks Primary Function of…
There are two theories to explain the inflation process. Demand-pull inflation and Cost-push inflation. Demand pull inflationCost push inflation Let us now discuss the…
The circular flow of economic activity is a very simple model of the entire economic process of a market economy. It represents the mutual…
Qualitative measures in monetary policy play an important role in the development process of the country. Qualitative credit control measures include (1) Prescription of…
The importance of studying macroeconomics can identify as follows. (1) Understand the economy as a whole, (2) Identifying functioning of an economy, (3) Helps…
Type of Trade Policies: Trade policies are mainly divided into two as outward oriented and inward oriented strategies. Trade policy is a continuing conflict…
Many governments follow various types of non-tariff barriers (NTBs) as instruments of trade policy. It includes import quotas, export subsidies, voluntary export restraints, import…
What Is Net Foreign Factor Income (NFFI)? Net foreign factor income (NFFI) is the difference between a country’s gross national product (GNP) and its…
From this article, you will learn about three important concepts of international trade which referred to as terms of trade, reciprocal demand, and offer…
Classical thoughts of international trade include,Absolute advantage theory – Adam SmithComparative advantage theory – David Ricardo It is more effective to understand the fundamentals…
Why developing countries should focus on international trade as a mean of achieving higher economic development? Let’s see. We discuss the top 4 reasons…
From this article, you will learn about the fundamentals of the Heckscher ohlin theory, which also knows as factor endowment theory. It includes new…
This article presents the international trade microeconomics. The session will focus on explaining the importance of learning the international economics subject and international trade.…
It is essential to understand the concepts of economic growth and development correctly. Because it often shows the same meaning. Understanding these concepts without…
The early thoughts of international trade viewed as classical thoughts of International Trade. It includes the absolute advantage theory and comparative advantage theory. Adam…
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