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https://openinapp.co/j5dev Adam Smith is regarded as the founding father of modern economics (it was known as political economy at that time). He was a Scotsman and a professor at the University of Glasgow. Philosopher by training, his well known work An Enquiry into the Nature and Cause of the Wealth of Nations (1776) is regarded as the first major comprehensive book on the subject
John Maynard Keynes, British economist, was born in 1883. He was educated in King’s College, Cambridge, United Kingdom and later appointed its Dean. Apart from being a sharp intellectual he actively involved in international diplomacy during the years following the First World War. He prophesied the break down of the peace agreement of the War in the book The Economic Consequences of the Peace (1919). His book General Theory of Employment, Interest and Money (1936) is regarded as one of the most influential economics books of the twentieth century. He was also a shrewd foreign currency speculator.
After listening this lecture you will be able to give all these Questions Answers👇👇👇👇
1. What is the difference between microeconomics and macroeconomics?
2. What are the important features of a capitalist economy?
3. Describe the four major sectors in an economy according to the
macroeconomic point of view.
4. Describe the Great Depression of 1929.
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Economy NCERT Class 12 - Chapter 1 - Macroeconomics, Great Depression,Adam Smith,John Maynard Keynes
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