'Salary' is a word derived from salt — salt was used as a means of payment in the Roman Empire for many years. Later, during the Mercantilist Era, gold became the primary store of wealth. However, no formal theory of money existed at the time, and as a consequence, a wave of inflation swept through Spain caused by gold extracted from Mexico in the 16th century, eventually reaching most European...
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Factor and Determinants of Growth in China
The process of economic growth is a complex phenomenon, which involves a wide variety of factors, such as political, economic, social, cultural, etc. It is commonly believed that capital appears to be the primary determinant of economic growth as it drives the development of small and medium businesses. However, researchers such as Baizhu Chen and Yi Fheng consider this statement to be wrong as...
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Top courses on Udemy Introduction to the economics of public sector regulation Understanding Macroeconomics for university and business Market forces of Demand, Supply, and Equilibrium
Complete EconTutorials Content Library
Welcome to the EconTutorials Content LibraryEverything published on EconTutorials — in one place, organised by subject. Whether you're studying for AP Economics, Cambridge A-Level, IB, or undergraduate exams, use this page to find exactly what you need.🛒 EconTutorials ShopStructured revision resources — textbook, practice questions, flashcards, and case studies. Instant PDF...
Difference between Perfect and Imperfect multicollinearity
Imperfect multicollinearity With imperfect multicollinearity, an independent variable has a strong but not perfect linear function of one or more independent variables. This also means that there are also variables in the model that effects the independent variable. In other words If there are two independent vairables that are related to each other. Yet there are also other vairables out of the...
Eviews Regression with Dummy variables
To understand regression analysis with dummy variables, let us take an example of using dummy variable with structural changes in an economy. For example, there was a structural change in U.S during 1981-1982, and also a severe recession in 2007 and 2008. So when we taking a time series data, such structural changes does has an effect on our regression analysis. To check the effects of such...
Dummy Variables
What are Dummy Variables? In regression analysis, we often need to include qualitative (categorical) variables — variables that represent categories rather than numerical quantities. Examples include gender (male/female), employment status (employed/unemployed), region (urban/rural), or political affiliation. Since regression models require numerical inputs, we convert these categories into...
What is Regression Analysis ?
What is Regression Analysis? Regression analysis is a statistical technique used to examine and quantify the relationship between variables. In economics and econometrics, it allows us to move beyond describing a relationship in words and instead estimate it precisely: by how much does the dependent variable change when an independent variable changes by one unit? Regression Analysis is a...
Introduction to Taxes and its Types
What comes in your mind when you hear or see the word “Tax” in your daily life discussions or on some news channel on T.V , newspapers etc ?. Have you ever thought how the Government gets financed and they pay salaries to employees ? Or pay pensions to retired employees ? The answer to all these questions is found in system called Taxation. When you go to market and purchase a product or...
What are Index Numbers ?
Introduction Often we want to know how certain variables like prices, production, etc. have changed over time and space. For example, we may like to compare the change in the average retail price of milk in 1985 with that in 1982 or we may like to compare the retail price of milk in Houston with that in Virginia or New Jersey. We may also like to know the increase in the yield of wheat in India...
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