Economics, Statistics & Game Theory in the Everyday World
Macroeconomic policy relies on accurate forecasting, informed by historical data. This involves analyzing time series to understand trends, stationarity, and the data-generating process. We discuss stationary processes, their properties, model identification and criterion for modelling. This is part 1 of a series.
The article explains and illustrates growth decomposition using Cobb Douglas production for an economy. We also demonstrate this computation using data for India from the Penn World Tables.
Can we clean up the dirty air of the National Capital Region with clean tech? Research suggests we can.
A part of my the notes on inferior goods.
Pagers, the early network good we didn't pay attention to
A short explanation of CBDCs and the pros and cons therein, along with why they are different from decentralized cryptocurrencies like Bitcoin.
Finding out the truth in the speculation around Bitcoin ban of China and its implications for the rest of the world.
What factors are going to affect the residential homes market in the USA in the coming decade? A quick look.
Law of Large Numbers & CLT: Explanation, mathematical proof & illustration of theorems with Python
The Farmer Bills seek to dissolve the hegemony of the APMC structure without the need to dismantle it.
Making sense of COVID19 Data & taking informed decisions.
With due apology to all the Masters who gave the koan to humanity to spur them into thinking of higher realities and higher dimensions, I will try to model a Zen koan into a probabilistic framework, as my own exploration and answer to it. This is the said famous koan: "In a remote forest, if …
"Unemployment" is making the headlines every day, in some part of the world. Yet, not many people fully understand the mechanics of unemployment, its many types or many causes. For good reason though, because the economics of unemployment can be rather complex, if not abstruse. Firstly, it is important to distinguish between involuntary unemployment and …
Continue reading "What is Involuntary Unemployment & What is the REAL Minimum Wage?"
GDP or Gross Domestic Product is a measure of how much the population of a country is contributing to its economic growth, and hence, how much the country as a whole is prosperous or economically fit. While the GDP is one of the indicators of the overall "economic health" of a country, it may be …
Continue reading "What is Purchasing Power Parity (PPP) & Why Does it Matter?"
Expectations and disappointments from the Budget, 2019.
