All that you need to know about Economics
Econtutorials is a hub of articles, notes, lectures, manuals and online courses of Economics that will guide you from its very basic terms to advance methods of solving quantitative problems.
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Microeconomics
Understand the functions of the individual entities of an economy
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Understanding the economy as a whole
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Learn the exact topics of statistics required for economic understanding
Econometrics
The amalgamation of Economics, statistics and mathematics
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Difference between GDP and GNP
Although both GDP and GNP measure the size of an economy, either for business or economics forecasting purposes, they are not one and the same thing. Therefore, one should not be confused by their similar terminology. Simply put, while GDP looks at the strength of a...
Three Approaches of Calculating GDP
One of the most common ways to measure the size of an economy, in other words, the aggregate output of a country, is by compiling the gross domestic product (GDP). As defined by the World Bank, GDP represents the market value of all final goods and services...
GDP Introduction and Usage
Although GDP is commonly used to measure the size of an economy nowadays, Simon Kuznets, the economist who created this tool has warned against its use as a measure of welfare. Commissioned by the US Congress in 1934 to create a system that would monitor the...