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The primary functions of economists are to teach, contribute research and empirical findings and formulate policies. Most of the professional economists are associated with academic institutions and research institutes. Many of them are involved in both teaching and in scientific research. A limited number are associated with the corporate sector.In many companies economists act as advisors to functional managers in finance, marketing, production, personnel and in other departments.A knowledge of economics is essential for sound policy making. Decision makers who do not understand the implications of their actions are not likely to reach their goals. Till recently, the functional managers themselves were expected to possess the skills necessary for dealing with the ever arising economic problems. Now-a-days there is a growing demand for specialist economists in the corporate sector to deal with the everchanging economic environment in the wake of liberalization and globalization of the Indian economy. Often, outside consultants are brought in to prepare corporate studies as and when the need arises.A finance manager may call upon the economist for forecasts relating to the money and capital market, inflation rates, and other trends in the economy. The marketing manager might need the expertise in forecasting market demand, evaluating the impact of price changes and advertising, competitive analysis, etc. Professional economists can help production managers in sales forecasting, inventory control and related decisions. They can associate with the personal executives in preparing manpower plans and help in salary fixations. Finally, as we have discussed, close co-operation between economists and corporate planners is essential in the preparation and execution of corporate plans.
Gasoline, insurance, depreciation, and repairs are all costs of owning a car. Which of these can be considered opportunity costs in the context of each of the following decisions?
can u please tell me why lag length criteria is used during estimation of VAR model? what is the purpose of lag length criteria and how it can be interpreted?
A government purchase real GDP. Are increases in government purchases associated with increases in real GDP?Describe the important characteristics of perfect competition and monopo
Q. Discuss about the factors affecting the Price Elasticity of Demand. a. Availability of Substitute- Availability of close substitute is important determinants of elasticity of
explain and illustrate how the Lm curve is derived.
State the market for overnight loans Overnight interest rates are rates for loans over a single night - these are the shortest of all interest rates. During the day, banks norm
ISSUES RELATED TO BALANCE OF PAYMENTS: It is to be remembered that the Indian economy witnessed varying intensities of BOP problem during 1956-9 1. However over the 1990s,
1. Kuhn - Tucker Conditions Max 2x + 3y s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0 2. Max (8 + x)(8 + y) s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0 Utility function 3. U(x, y)
calculation of GDP
discuss Haberler''s opportunity cost doctrine.
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