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Rural economics is the study of rural economies. Rural economies include both agricultural and non-agricultural industries, so rural economics has broader concerns than agricultural economics which focus more on food systems. [1] Rural development [2] and finance [3] attempt to solve larger
A study suggests that even supporters of liberalisation concede that the immediate impact on the labor market has been negative. [75] This is particularly true in sectors like agriculture and manufacturing, where the reforms have not satisfactorily addressed the challenges, resulting in minimal job creation despite high economic growth overall.
Originally, political economy meant the study of the conditions under which production or consumption within limited parameters was organized in nation-states. In that way, political economy expanded the emphasis on economics, which comes from the Greek oikos (meaning "home") and nomos (meaning "law" or "order"). Political economy was thus ...
An economy [a] is an area of the production, distribution and trade, as well as consumption of goods and services.In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. [3]
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries ...
The direct recruits undergo a comprehensive probationary training comprising various phases ranging from Foundation Course (along with All India Services and Central Civil Services) to Applied Economics at the Institute of Economic Growth (IEG). The training programme also comprises various attachments with institutions of repute all across the ...
Adam Smith in his writing on economics stressed the importance of laissez-faire principles outlining the operation of the market in the absence of dominant political mechanisms of control, while Karl Marx discussed the working of the market in the presence of a controlled economy [2] sometimes referred to as a command economy in the literature ...