Guys.. Does any body have PDF files for books of Eco & Social or Finance & Mgmt.?
Please share...
Ramesh singh is a stupid book..being a student of eco and finance I hv never read a book as pathetic as this one.. please don't waste a minute on this. dissapointing
This time second phase is descriptive or objective type.
I want to prepare for this exam can anybody suggest all the study materials/books etc at one place. TIA
can any 1 suggest books 4 da part II....just one or two which will do justice..plzzz fr ec0n0mics...!!
Can anyone guide which chapters to read from Mishra and Puri. There is some confusion in my mind. I don't want to waste my time reading something irrelevant before I finish the entire syllabus.
Any kindly mention the chapter numbers. TIA
is notification for RBI Grade B out?if not, When is it expected to be?
Thanks
Some people say that the criteria won't change because none of us have an aim to become rbi grade b officer when we gave 10th 12th exam hence we cannot ask for change in criteria . Moreover rbi grade b recruitment is for some odd 117 posts hence for lesser number of students to appear rbi has kept such criteria so less number of applications are there and all process takes less time . How many agree? ?
Dear Grade-B aspirants I have been seeing that our friends are asking for standard books and materials.though RBI mentioned book list in one of its bulletins it is hard to read all those books fully(even you purchase them),and even they are not suitable to prepare for competitive exams.now your doubt is then why the hell RBI mentioned their names? its because they can't tell us to read NCERT and NIOS books(ha ha ha),even i have some NIOS materials i am not going to suggest them.but i do one thing whatever i have with me(which i feel covering syllabus more),i will post them here(google link after uploading them).I have googled and downloaded pile of materials for Civils exam.now it is over so preparing for RBI like you.so wait for some time i.e. by tomorrow i will come up with some plan and suggested materials,so that we can start prep. from Monday.All the best
hi
if any body is interested in group study for part 2 preparations
just choose the topic and finish it by any book and discuss main points
plz do it
Hello Friends 😃
I am Avinash Shahi, Presently working in Bank of Baroda(Asst.Manager). I don't know whether I will be eligible for the RBI Grade B or not(Scored Less in 10th) but one thing which I wanna share with you guys is that hard work never goes unrewarded. RBI has already shared the important books & journals.
So let's start discussion on each topic day by day. I don't know what will be the eligibility criteria but I do know one thing there are so many opportunities in Banking & Finance field and notification of NBARAD,EXIM,SIDBI,SEBI etc will come. :)
Let's Start with the First Topic
ECONOMIC GROWTH & ECONOMIC DEVELOPMENT
In general, the terms "Economic Growth" and "Economic Development" are used to express the same idea i. e., "Economic Advancement". But the term economic development is more comprehensive in its scope. Growth means persistent increase in per capita income. While development includes growth and structural changes like, infrastructural, social and political in the country.
ECONOMIC GROWTH:
Definitions:
Ø According to Micheal P. Todaro.
"Economic growth is a steady process by which the productive capacity of the economy is increased over time to bring about rising levels of national output and income".
Ø According to Simon Kuznets.
"Economic growth may be defined as a long term process wherein the substantial and sustained rise in real national income, total population and real per capita income takes place".
Essentials of Economic Growth:
Above definitions are showing following basics of economic growth:
- Economic growth is a long run process; it includes a period of decades.
- Economic growth shows higher rate of increase in real per capita income than rate of growth of population.
- Economic growth is always linked with large increase in productive ability of the economy.
- Economic growth is connected with the fair distribution of income and wealth.
- Economic growth is attached with the reduction in poverty and unemployment.
ECONOMIC DEVELOPMENT:
Definitions:
Ø Simple Definition.
"It refers to the process whereby the total supply of goods and services of the society increases leading towards improved living standard."
Ø According to Micheal P. Todaro.
"Development must be conceived (considered) for as a multi-dimensional process involving major change in social structures, popular attitudes and national institutions as well as the acceleration of eco-growth, the eradication (end) of poverty and reduction of inequality of wealth."
Structural Changes of Economic Development:
Economic development represents following structural changes in various sectors of the country:
There is a change in the occupational structure. In economic development there is decrease in the share of labour force in primary sector (farming, fishing and mining etc.) and increase in the share of labour force in secondary sector (industry etc).
- There is a change in the structure of national output. The contribution of primary sector in the national output falls and the share of secondary and tertiary (3rd) sector slowly go up.
- There is a change in the structure of industrial production. There is an increase in the production of capital goods and decrease in the production of consumer goods.
- There is a change in the structure of foreign trade. The share of primary goods in exports decreases and the share of capital goods in imports increase. Accordingly, in economic development there is an increase in exports of manufactured and final goods. Similarly, there is decrease in the imports of consumer items.
- There is a change in the structure of technology. In the economic development modern and advanced techniques are used in all the sectors of economy.
- There is a change in the social and institutional sector. Due to economic development there is an increase in the self-esteem and living standard of the population.
Ø Conclusion:
We conclude that, normally the terms economic growth and economic development are used for the explanation of encouraging changes in the economic achievements of a country.
Economic Growth = Annual increase in per capita income
Economic Development = Economic Growth + Structural Changes
DIFFERENCES BETWEEN ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT:
Both the terms seem similar, but there are various following points, which create difference between these two:
1- Definition
Economic Growth
Economic Development
The term economic growth is only concerned with raising income level and volume of production of goods and services.
The basic feature of economic development is to raise income level and improve the human being.
2- Nature in Economic Literature
Economic Growth
Economic Development
Economic growth is the key issue undertraditional economics. According to this approach "take care of growth and poverty would eliminate automatically."
Economic development is the main issue under modern economics literature. Accordingly, "take care of poverty and growth would take care of itself."
3- Scope
Economic Growth
Economic Development
Scope of economic growth is narrowbecause it is concerned with changes in income level only.
Scope of economic development is wideand comprehensive than economic growth. Its link is not only with income but also with the prosperity of the society and economy.
4- Institutional changes
Economic Growth
Economic Development
In case of economic growth strong and effective institutional set-up is not necessary.
Efficient institutional set-up is necessary.Effective and strong institutional revolution is the sign of economic development.
5- Type of Approach
Economic Growth
Economic Development
According to various economists, economic growth is said to be quantitative approach.
Economic development refers to thequalitative approach.
6- Importance
Economic Growth
Economic Development
Economic growth is less important due to the attachment with income level only.
The Concept of economic development ismore important because it discusses an economy in wider sense.
7- Time Span
Economic Growth
Economic Development
Economic growth is a short-term process.We can measure income changes yearly. So, its time span may be of one year.
Economic development is a long-term process about 20 to 25 years. Because it takes years to change social, economic and institutional set-up.
8- National Problem
Economic Growth
Economic Development
Economic growth is the problem ofdeveloped countries of the world.
Economic development is the problem ofdeveloping countries.
9- Political Changes
Economic Growth
Economic Development
Economic growth is not concerned with the political stability.
The concept of economic development isincomplete without political stability.
10- Dependence and Self-Sufficiency
Economic Growth
Economic Development
Economic growth does not ensure the freedom from the dependence of foreign countries.
In case of economic development our dependence on other countries reduces and country adopts the self-reliance policy.
11- Economic Application
Economic Growth
Economic Development
Economic growth first checks the statistical upward movement in the economy.
Economic development basically emphasizes on the balanced growth of economy.
12- Social Impact
Economic Growth
Economic Development
There may or may not be any social changes in case of economic growth. It ignores the human beings and it is only concerned with income level etc.
Social changes, in case of economic development, are compulsory. It refers to the better jobs, availability of food, better health and education etc.
13- Economic Welfare
Economic Growth
Economic Development
Economic growth is not much attachedwith the human beings. It has no link with the good or bad.
In economic development, more importance is given to the mankind as compare to the economic growth.
14- Measurement
A. Economic Growth
Economic Development
Economic growth is measured only by comparing income levels of different years. It also can be measured numerically.
Measurement of economic development is based on the reduction in poverty, development of human being and living standard etc.
15- Quantity and Quality
Economic Growth
Economic Development
Economic growth is concerned withquantity of goods and services only.
Economic development is concerned with not only quantity but also with the quality.
16- Problem of Assessment
Economic Growth
B. Economic Development
It is very difficult to estimate exactly the level of economic growth in developing countries like Pakistan.
Computation of economic development isnot a difficult task in developed nations of the world.
17- Use of Technology
Economic Growth
Economic Development
In economic growth, use of advanced technology is not appreciated.
For the economic development use of modern technology is compulsory.
Measures of economic Development will look at:
- Real income per head - GDP per capita
- Levels of literacy and education standards
- Levels of health care e.g. number of doctors per 1000 population
- Quality and availability of housing
- Levels of environmental standards
Factors affecting Economics growth in developing countries
- Levels of infrastructure - e.g. transport and communication
- Levels of corruption
- Educational standards and labour productivity
- Labour mobility
- Flow of foreign aid and investment
- Level of savings and investment
Economic Growth without Development
It is possible to have economic growth without development. i.e. an increase in GDP, but most people don't see any actual improvements in living standards.
- Economic growth may only benefit a small % of the population. For example, if a country produces more oil, it will see an increase in GDP. However, it is possible, that this oil is only owned by one firm, and therefore, the average worker doesn't really benefit.
- Corruption. A country may see higher GDP, but the benefits of growth may be siphoned into the bank accounts of politicians
- Environmental problems. Producing toxic chemicals will lead to an increase in real GDP. However, without proper regulation it can also lead to environmental and health problems. This is an example of where growth leads to a decline in living standards for many.
- Congestion. Economic growth can cause an increase in congestion. This means people will spend longer in traffic jams. GDP may increase but they have lower living standards because they spend more time in traffic jams.
- Production not consumed. If a state owned industry increases output, this is reflected in an increase in GDP. However, if the output is not used by anyone then it causes no actual increase in living standards.
- Military Spending. A country may increase GDP through spending more on military goods. However, if this is at the expense of health care and education it can lead to lower living standards
MEASUREMENT OF ECONOMIC DEVELOPMENT/GROWTH
(Please don't confuse with measurement of National Income)
There are several criteria or principles to measure the economic development. Let us make a detailed study of these measurements for better understanding.
1. National Income as an Index of Development:
There is a group of certain economists which maintains that the growth of national income should be considered most suitable index of economic development.
They are Simon Kuznets, Meier and Baldwin, Hicks, Samuelson, Pigou. Kuznets favoured this method as a basis for measuring economic development. For this purpose, net national product (NNP) is preferred to gross national product (GNP) as it gives a better idea about the progress of a nation.
2. Per Capita Real Income:
Some economists believe that economic growth is meaningless as it does not improve the standard of living of the common masses. According to this view economic development should be defined as a process by which the real per capita income increases over a long period of time.
Harvey Leibenstein, Rostow, Baran, Buchanan and many others favour the use of the per capita output as an index of economic development. The UNO experts in their report on 'Measures of Economic Development of Underdeveloped Countries' have also accepted this measurement of development.
3. Economic Welfare as an Index of Economic Development:
Economists like Colin Clark Kindleberger, D. Bright Singh, and Hersick etc. have suggested economic welfare as the measure of economic development. The term economic welfare can be understood in two ways:
(a) When there is equal distribution of national income among all the sections of the society. It raises economic welfare.
(b) When the purchasing power of money goes up, even then there is an increase in the level of economic welfare. The purchasing power of money can go up when with the increase in national income there is also increase in the prices of goods. That means economic welfare can increase if price stability is ensured.
Thus economic welfare can boost with equal distribution of income and price stability. Higher the level of economic welfare, higher will be the extent of economic development and vice-versa.
4. Measurement through Occupational Pattern:
The distribution of working population in different occupations is also regarded as criteria for the measurement of economic development. According to Colin Clark there is deep relation between the occupational structure and economic development. He has divided the occupational structure in three sectors
(a) Primary Sector:
It includes agriculture, fisheries, forestry, mining etc.
(b) Secondary Sector:
It consists of manufacturing, trade, construction etc.
(c) Tertiary Sector:
It includes services, banking, transport, etc.
In underdeveloped countries, majority of the working population is engaged in primary sector. On the contrary, in developed countries the majority of the working population works in tertiary sector. When a country makes economic progress, its working population begins to shift from primary sector to secondary and tertiary sectors.
5. Standard of Living Criterion:
Another method to measure economic development is the standard of living. According to this view, objective of development is to provide better life to its people through improvement or upliftment of the standard of living. In other words, it refers to the increase in average consumption level of the individual.
6.Basic Needs Approach. Basic needs approach also called Physical Quality of Life Approach uses only three indicators for measuring economic development in a country . These indicators are (i) Life expectancy and age. (ii) Infant mortality and (iii) Literacy .
The basic need approach is considered superior as spells out in detail the human needs in terms of health . nutrition, shelter and education etc. It is also devoid of the flaws which exist in per capita, GNP measure. However, the approach is criticised . on the ground that it does not include security, justice and human rights which are an important measures of quality of life .
7.Human Development Index. The modern economists are not satisfied with GNP, per capita or national income as the principal measures of economic progress. According to them, the issue is not only how much growth but what kind of growth. They formulated Human Development Index (HDI). There were number of measures which were included in this index, However, to keep the HDI simple and manageable, the following main variables were included in it (a) Life expectancy was chosen as a measure of long life (b) Literacy as an index of knowledge and (c) Real GDP per person.
8. Other diverse indicators. In addition to real GDP per person, the modern economists measure the level of country's development from the following indicators.
(a) The percentage of income originating from agriculture in GDP. The higher the income originating from agriculture, the less developed is the economy of a country.
(b) per Capita consumption of energy. The higher the per capita consumption of energy, the more developed is the industry and economy of the country.
(c) Percentage of starches in total calories consumed. If there is high percentage of starches consumed in total calories consumed by the people, the economy will be considered as underdeveloped.
(d) Degree of urbanization, high school enrolment ratio. If the ratio of school enrolment, the degree of urbanization and life expectancy is rising in a country they are considered to be positively related to economic development.
(e) Infant mortality and density of population. If in a country the infant mortality and density of population are high, it is considered to be negatively related to economic development.
(f)Gross National Happiness Gross National Happiness (GNH) is frequently mentioned as an alternative measure of progress. It was originally suggested by the King of Bhutan in the early 1980s as a more appropriate measure for his small kingdom than GDP. It was not an actual index, but a principle for guiding Bhutanese development in a fashion consistent with the country's culture and spiritual values rather than by focusing on increasing economic activity. Since 2004, the Bhutan government has sponsored four international conferences on GNH. Bhutan has established a Gross National Happiness Commission
http://images.slideplayer.com/14/4453256/slides/slide_4.jpg
(g)Happy Planet Index The purpose of the Happy Planet Index (HPI), developed and published by the New Economics Foundation (NEF), is to measure a country's ecological efficiency in delivering human well-being. The index is a composite of three measures: life expectancy at birth, life satisfaction, and ecological footprint.
CONCLUSION
At the time it was conceived, GDP was a useful signpost on the path to a better world: a path where increased economic activity provided jobs, income, and basic amenities to reduce worldwide social conflict and prevent a third world war. That economic activity has created a world very different from the one faced by the world leaders who convened at Bretton Woods in 1944.
We are now living in a world overflowing with people and manmade capital, where the emphasis on growing GDP and economic activity is leading the world back toward the brink of collapse. Now, the world is in need of new goals and new ways to measure progress towards those goals. The time is right to embark on a new round of consensus-building processes that will re-envision what was institutionalized over the last 65 years.
The need is clear for:
(1) new goals with a broader view of interconnectedness among long-term, sustainable economic, social, and ecological well-being;
(2) better ways to measure progress towards these goals; and
(3) an invigorated campaign for the realization of this evolved economic system with new institutions.
Measurement :National Income and per capita income
(For this topic please follow the following link.)
pls. tell me various online test exam series like mahendras etc.for ibps type exam
Hi..can anyone pls suggest me a coaching institute for RBI in Mumbai....I googled but could nt find a proper institute
Dear Aspirants i
have gathered some stuff which i have with me.This stuff is not new one to
senior aspirants of Civils&RBI.but i thought if everything(what i think
apt) is at one place then newbies and working aspirants will be get
benefited.This collection is of 300MB and in which one folder(Essays for
understanding) is even not read by me,it contains almost 150 essays(from old
threads of Mrunal blog) which will give immense support for our
preparation,just skim through the content.Even if you download them individually also it takes hours of strenuous search,so i hope this collection will be some what good.These materials can be used for the
purpose of Paper-2,Paper-3(Finance,Economy electives).I think
Finance&Management will be easiest elective of the three.so for
Management&Misc. also i am sending some limited material.But i want to
suggest you to daily go to the following blogs and update yourself(in the
fields of Economy,Banking&Finance).
(for current affairs quizzes),
http://generalawareness4bankexams.blogspot.in/
(for General awareness section of Phase-1( remember its 80marks),
https://www.youtube.com/user/unacademy/videos
(for economy related lectures,don't waste time just update from now),
http://yadagiriirs.blogspot.in/(Just search for economy model tests(i think 4 in number) from archives.If you do follow these blogs you will get enough confidence to tackle with RBI Grade-B.I would have filtered some content before posting here but you only can decide which one is needed for you(for me it seems all these are important). Following are senspace links you can download them
https://www.sendspace.com/file/felpvx,
https://www.sendspace.com/file/49wc4t ....thank you friends.
Dear Fellow aspirants, Any suggetion about TCY ONLINE?
what type of questions may come in phase 2...