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Since complexity theory as a tool, has not been included in the standard tool kits of our economics courses, it is pertinent to have a basic idea of before proceeding to apply to the policy process.
The complex systems are basically dissipative structures that import free energy and export entropy in a way that enables them to self organize their structural contents and configure subject to boundary limits. They maintain their boundaries but at the same time, they are open systems that are irrevocably connected to the environment that contain other systems that can be complementary, competitive, cooperative as well as non-cooperative, predictive or available as prey. Systems that absorb information from their environment and create store of knowledge that can aid actions, are called complex adaptive system.
In economic literature policy instrumentation has usually been discussed from normative point of view. In particular, the analytical apparatus of welfare theory is well equipped t
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externalities produced by a monopolist
stages and various coordination mechanisms involved in policy processes..
The term Public Economics came into existence only in 1960s however a few titleswith nomenclature such as Public Finance had already started covering much ground,which is today cov
Q. Is Heterogeneity the sole cause of conflict of interests? Explain heterogeneity as a cause of variation of aspirations of agents leading to formation of various special inte
It has been accepted to most policy and development economists that among the most important sets of institution in an economy are those that provide for enforcement of contracts.
In planning activities how are the decision arrived? what are the different stages of analysis? which factors can be ignored and why? state the manner in which a degree of success
The report which you should submit to me should include: A brief analysis of the control systems required for the health and safety of operatives and others who may be affect
Question 1: (a) Describe and distinguish between the Linear Stages Theory and the Structural Change Models. (b) What are the limitations of each of the above two models.
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