In this article we will discuss about:- 1. Introduction to Keynesian Theory 2. Features of Keynesian Theory of Employment 3. Assumptions 4. Variables 5. Summary 6. Determination of Equilibrium Level 7. Theory of Income and Output 8. Keynesian Model 9. Policy Implications 10. Criticisms. Introduction to Keynesian Theory: Keynes was the first to develop a […]
Keynesian Theory of Employment: Introduction, Features, Summary and Criticisms
Article shared by : 
Keynesianism versus Monetarism: How Changes in Money Supply Affect the Economic Activity
Article shared by :
Keynesians and monetarists disagree on almost all issues related to money and its role. Their extreme positions can be summed up like this- the Keynesians hold the view that ‘money does not matter’ as an effective means of demand management; the monetarists, on the contrary, maintain that ‘only money matters’ as an effective means of […]
Mill’s Theory of Reciprocal Demand: Formula, Graphs and Criticisms
Article shared by :
In this article we will discuss about Mill’s Theory of Reciprocal Demand:- 1. Changes in Demand and Supply 2. Reciprocal Demand Elasticity 3. Offer Curve Approach 4. Mill’s Paradox 5. Special Gains to Small Countries 6. Criticisms 7. Formula 8. Graphs. J.S. Mill made Ricardo’s theory of comparative cost determinate by stating the conditions for […]