Dear Aspirants,
Economics is a very scoring subject and it can easily be made your optional paper in the WBCS Mains 2018. It is an easy subject and some of its fundamentals are written below:
The study of Economics started in ancient Greece. According to academic discipline it was developed in 1796 by Adam Smith in his book ” Wealth of Nations”. Adam Smith is known as the father of Economics. The concept of Political Economy and Laissez Fairrie was also developed by him. Laissez Fairrie is an important feature of Capital Economy.
The Principle of Economics was written by A Marshall in 1890. According to Marshall economics is a social science.
Some famous Classical Economists are:
D. Richards- Rent Theory
J. B. Say- Market Theory
T. R. Mathur- Population Theory
John Stuart Mill – Political Thought
The father of Neo Classical Economics is A Marshall.
Some famous Neo Classical Economists are:
Paul Rover
Robert Solow
J E Meade
The German Theory of Employment Interest and Money was written by J M Key in 1936. He is also known as the father of Modern Economics.
The terms Micro and Macro Economics was coined by Roguer Frisch.
The first noble laureates in Economics are Roguer Frisch and Prof. Tirberjer
Amartya Sen got noble prize in 1990 for his masterpiece” Welfare of Economics”.
Books by Amartya Sen are :
Choice of Technique
Identity and Violence
The Argumentative India
Development as Freedom
Poverty and Famine
We hope that the above mentioned details would help you in initially understanding the subject and opting for it as your optional paper in WBCS Mains 2018.
All the best!
Avision
Howrah, Liluah & Kolkata
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