This course explains the concept of Inflation and how its levels can be identified in an economy through relevant albeit simple examples from our everyday life. In less than 4 hours, this module covers Inflation and all relevant sub-topics thoroughly.
This course includes:
· 6 videos
· 100 MCQs
· Access over mobile, TV
· Videos available on-demand 24✖7
Requirement for access
Interested and eligible candidates/students would be required to purchase the study material contained in the module for Inflation.
Description and Course Structure
This module is an extension to the Economics subject as it progresses to the topic of Inflation and guarantees a coherent knowledge and understanding of the chapter. The module is very strategically structured so that complex sub-topics can be understood easily by new students.
The module is divided into 3 sections: Situations of Economy, Calculation of Inflation and Impacts of Inflation. The first section is divided into 2 lecture videos in order to accommodate all aspects. Through relevant examples of our own situation as a consumer in the economy, the Educator makes our understanding crystal clear and the corresponding study material for the same adds to a wholesome study of this paper. She goes over the topics discussed in every lecture at the end of every video and that ensures a regular revision while one is watching this module.
The course module runs for 3.5 hours roughly and aspirants can access it anytime and anywhere, according to their convenience. Being a self-paced course, it gives you the option to plan your study time yourself. An aspirant can complete this course in 2 to 3 days, approximately.
Why this course
(a) Our courses have helped a large number of aspirants succeed in numerous competitive exams, who have went ahead to contribute in various government sectors and handle their work responsibly.
(b) The videos and the study material have been developed by Miss Afreen Azmat, who is an expert in economics and carries long-term experience of real-time classroom coaching for this paper.
(c) The course curator has developed multiple e-Learning courses in the past and has more than 25 videos on YouTube; her validation makes the module fool-proof for future aspirants of online coaching at Safalta.
In this overview of the chapter which is to follow, Ms Afreen Azmat introduces the topic, Inflation and its key features. In the basic definition of Inflation, she explains the relationship between the income of buyers and the increasing prices in the market in the context of any economy. The key features of Inflation include liquidity, the demand and supply proportion and the ratio of purchasing power that varies with this.
In a nutshell, she gives the defining features of an inflation-affected economy: high liquidity, reduced production, and decreased purchasing power of consumers.
This module is very well-structured by the Educator in order to introduce concepts in a flow and ensure the complete reception of the topic by students. The Educator puts on board the terms which are significant in order to understand the situation of any economy: liquidity, liquids and purchasing power. While she explains how these terms are relevant to economic stability and progress, this first lecture on situations of economy further moves to these five: Inflation, Deflation, Disinflation, Recession, and Reflation. The lecture winds up with the Educator explaining in detail each situation and also cross-referencing the various situations to ensure complete clarification.
Following up from Part I of the same lecture, Ms Azmat moves on the next three types of economic situations: Depression, Hyper-inflation and Stagflation. While the first two of these are the extreme ends and the worst situations any economy can face, Ms Azmat gives the rare examples of economies and countries which have been through these conditions. Coming to contextualizing economic condition, Ms Azmat comes to the Stagflation going on in India and interestingly explains this different type of situation which involves inflation, recession and unemployment. The second portion of this video is about the types of inflation, wherein she names and explains 8 different types of inflation which can occur.
Relating these complex situations of economy very normally with our lives, she makes it easier for the students to understand concepts. Graphical representations and repetition for complete memorization are some of the salient features of this lecture.
After explaining the various possible situations of the economy, the Educator moves ahead to an important part of the Inflation chapter, i.e., how to calculate the percentage of inflation in an economy. She elaborates on two methods for the same: Wholesale Price Index (WPI) and Consumer Price Index (CPI). The lecture further contains the formulas to calculate both WPI and CPI and the relevant information that is needed for calculating these inflation indices, like number of commodities, Base Year, and headline inflation.
In order to further distinguish between the two, Ms Azmat explains Base Year and the relationships between consumer lifestyle and market demand. While relating these merging concepts with our real-life situations, she clarifies it to all students.
In this concluding lecture to the Inflation chapter, the Educator begins with a little revision of the last lecture on calculation of Inflation and then begins with the impact of Inflation on various economic situations: Loans, International Trade, Income, Employment and Aggregate Demand of goods. The last three are directly proportional to Inflation and always increase when in an economy which has inflation. She also brings in currency value and purchasing power here in context to thoroughly explain the topic. A consistent back and forth of concepts through revision and basic factual questions which she covers in her class makes her teaching exemplary.
Ms Azmat wraps up the module with an overview of the previous three lectures in an elaborate albeit concise flow-chart and touches upon every topic again while summarizing the important points for students of the module.
Miss Afreen Azmat is a well-known faculty of Economics in the education industry, which focus on entrance exam for government jobs. She is a popular face for some of the most esteemed institutes in the field. She also enjoys a huge fan following on social media, more prominently on YouTube. She has been working as a mainstream teacher for approximately 4 years now.
Miss Azmat has taught in many renowned institutes and has been the faculty of economics in some of the big online education platform. She has also conducted guest lectures regarding the news and current affairs, primarily related to the economy of India and the world, as and when requested by certain institutes, from time to time.
Miss Azmat possesses an honours’ degree in baccalaureates commerce from Delhi College of Arts and Commerce, University of Delhi. She has been an esteemed awardee at Jaypee Youth Parliament in 2013. In addition to that, she also contributed to society as an active member of NSS & organizer in Ambrosia, DCAC.
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