What is Economics..?

By different Economist
Economist name Memorizing Point Tips to remember
 -Demand
1. Alfred Marshal  -Time concept
 -Diminishing utility -Marginal Utility
Approach
 -Time element to differentiate market
 -Welfare
 -Study of Mankind
 -Nature & Causes of Wealth of Nation
2. Adam Smith (1776).
 -Father of Economics
 -Definition of Wealth
 -Business Economics
3. Joel Dean

By- Prof. Jatin

What is Economics..?
By different Economist

Economist name Memorizing Point Tips to remember

 Economics is science of growth
4. JB Say
 -Cobweb theory
5. Nicholas Kaldos
 -Satisfying Behavior
6. HA Simon
 -Delphi Method/Expert Opinion
7. Olaf Hamler
 -Indifference Curve
8. Hicks & Allen

By- Prof. Jatin

What is Economics..?
By different Economist

Economist name Memorizing Point Tips to remember

 -Nature & Significance of Economics
9. L Robbins  -Scarcity of resources
 -Positive science
 -Growth of business
10. Samuelson
 -Measuring rod of money
11. AC Pigou  -Welfare in economy Business
 -Optimism & pessimism
 Risk
12. F Knight
 Innovation
13. Schumpeter

By- Prof. Jatin

What is Economics..?
By different Economist

Economist name Memorizing Point Tips to remember

 -Separation of management and
14. A.A Berle & ownership
GC Means
 -Profit Maximization
15. Williamson
 -Revenue Maximization
16. Baumol
 -Management goal of stability & growth
17. RL Marris
 -Kinked demand curve
18. Paul Sweezy

By- Prof. Jatin

What is Economics..?
By different Economist

Economist name Memorizing Point Tips to remember

 -Monetary
19. Hawtrey
 -Socialist Economy
20. Karl Marx &  -The Communist Manifesto (1848)
Frederick Engels
 -4 possible functional goals: production,
21. Cyert & March inventory, sales, market
 -Group Behavior
22. Chamberlin
 -Capital ¼
23. Cobb Douglas  -Labour ¾

By- Prof. Jatin

What is Economics..?
By different Economist

Economist name Memorizing Point Tips to remember

 -Economics is what economists do
24. Jacob Viner
 - Conspicuous consumption/ Veblen Goods
25. Thorstein Veblen
 -Giffen Goods
26. Robbert Giffen
 -Aggregate Effective Demand
27. Keynes
 -Aim - Create & Retain customer
28. Peter Drucker
 -Feedback or Black box model
29. David Easton

By- Prof. Jatin