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Economics UGC-NET/SET
NAME OF THE ECONOMISTS AND THEIR CONTRIBUTION Sl.
CONCEPTS
NO
1. Absolute income Theory
2. Abstinence Theory of Interest
3. Affluent Society
ECONOMISTS
J.M. Keynes
Senior
J.K. Galbraith
First advanced by John Rae;
4.
Agio Theory of interest (or) Psychological theory of interest (developed by Bohm Bawerk)
5.
6.
7.
8.
Architect of Indian Planning
Biological Theory of Population
Cobweb Theorem
Concept of Social optimum Consumer’s Surplus
First propounded by
Popularised by
Degree of Monopoly Theory
Demand schedule
Demonstration effect
Division of Labour
Doctrine of Balanced Growth
Doctrine of Conspicuous consumption
Doctrine of Sound Finance
Drain Theory
Dynamic Theory of Profit
Elasticity of Demand
Employment Multiplier
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21. General Equilibrium Analysis
22.
23.
24.
25.
26.
27.
28.
29.
30.
Growth Definition
Human Capital Formation
Income distribution Theory (or) Keynesian Theory
Indifference curve analysis
Inflationary gap
Innovation Theory of Profit
Innovation Theory of Trade Cycle
Input Output analysis
Iron Law of wages of Brazen Law of Wages
1 Jawaharlal Nehru
Raymond Pearl
Nicholas Kaldor
Pareto
Arsene Jules Dupuit
(1844)
Alfred Marshall
Kalecki
Alfred Marshall
Duesenbery
Adam Smith
Ragner Nurkse
Thorstein Veblen
Classical Economists
Dadabhai Naoroji
J.B. Clark
Alfred Marshall
R.F. Khan
Leon Walras;
(developed by Vilfredo
Pareto)
P.A. Samuelson
Prof. Theodore.
Kaldor
J R. Hicks
J.M. Keynes
Prof. Joseph A. Schumpeter
Schumpeter
Wassily Leontief
Lassalle
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Economics UGC-NET/SET
NAME OF THE ECONOMISTS AND THEIR CONTRIBUTION 31. Kinked Demand curve
32. Labour Theory of Value
33. Law of Market
Prof. Paul M. Sweezy
Marx
J.B. Say
Modigliani, Brumberg
and Ando
34. Life Cycle Hypothesis
35.
36.
37.
38.
39.
40.
41.
42.
Linear Programming
(It is also known as Mathematical programming and
activity Analysis)
Liquidity Preference Theory of Interest
Loanable Funds Theory of Interest
Marginal Preference Theory
Materialistic conception-of History
Modern Quantity Theory
Modern Theory of interest
Modern Theory of International Trade
(Factor - Proportion analysis)
Modern Theory of Rent
43.
44. Modified version of Marginal Productivity Theory of Wages .
45. Monetary Theory of Trade Cycle
46. Monopsony
47. Optimum Theory of Population
48. Over-investment theory of business, cycle
49. Over-saving theory of business cycle
50.
51.
52.
53.
54.
55.
People’s Plan
Permanent Income Hypothesis
Portfolio Balance approach
Psychological Law of Consumption
Psychological theory of business cycle
Purchasing Power Parity Theory
56. Quantity Theory of Money
57. Quasi – Rent
58. Real Balance Effect
59. Rent Theory of Profit
2 George B. Dantzig
J.M. Keynes
Knut Wicksell
Armstrong
Marx
Friedman
Hicks-Hansen
Bertil Ohlin
Mrs. Joan Robinson
Taussig
R.G. Hawtrey
Mrs. Joan Robinson
Prof. Sidgwick;
(developed by Edwin
Cannon)
Dr. Hayek
Major Douglas and
J.A. Hobson
M.N. Roy
Friedman
Tobins
Keynes
A.C. Pigou
Gustau Cassel
First Propounded by
Davan Zatti
Alfred Marshall
Pigou
L. Walker
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Economics UGC-NET/SET
NAME OF THE ECONOMISTS AND THEIR CONTRIBUTION 60.
61.
62.
63.
64.
65.
66.
67.
68.
69.
70.
71.
72.
Representative Firm
Residual Climant theory
Restatement of the Quantity Theory of Money
Revealed Preference Theory
Revised Theory of Demand
Risk Aversion Theory of Liquidity Preference
Risk Theory of Profit
Scarcity Definition
Selling cost curve
Social optimum
Statics’ and ‘Dynamics’ concepts into Economics
Statics” and “Dynamics” concepts into Social Science
Statistical Utility Theory
73. Subsistence theory of Wages
74. Sun - spot Theory of business cycle
75. Accelerator
76. Big Push” Theory
77. Concept of Functional Finance
78.
Income Theory of Money
(or, the Saving- Investment theory of money)
79. Multiplier
80. principle of maximum social advantage
81. Relative Income Hypothesis
82.
83.
84.
85.
86.
The term ‘Micro’ and 'Marco Economics’
Theory of Absolute Advantage
Theory of Comparative cost
Theory of Opportunity Cost
Theory of Social Marginal Productivity
3 Alfred Marshall
Walker
Friedman
P.A. Samuelson
J R. Hicks
Tobin
Prof. Hawley
Lionel Robbins
Chamberlin
Pareto
J.S.Mill
August Comte
Neumann-Morgenstern
Physiocrates
(developed by Adam
Smith)
W. Stanley Jevons
Aftalion;
(developed by J.B. Clark)
Rosenstein Rodan
(developed by)
A.P. Lerner
Thomas Tooke
(Popularised by Keynes)
Keynes
Hugh Dalton
First introduced by
Dorothy Brady and
Rose - Friedman
(Developed by
Dussenberry)
Prof. Ragnar Frisch
Adam Smith
David Ricardo
Haberler
J.B. Clark
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Economics UGC-NET/SET
NAME OF THE ECONOMISTS AND THEIR CONTRIBUTION 87.
88.
89.
90.
91.
92.
93.
94.
95.
96.
97.
98.
99.
100.
101.
102.
103.
Theory o f Unbalanced Growth
Theory of Demographic Transition
Theory of Monopolistic competition
Theory of Population
Theory of Product Pricing
Theory of Rent
Theory of Surplus: value-and exploitation
Time Preference Theory
Transfer Earnings
Uncertainty-Bearing Theory of Profit
Vicious Circle of Poverty
Wage Fund Theory
Wage Theory of Profit
Wealth Definition
Wealth Flows Theory
Welfare Definition
Welfare Economics
4 Prof. Hirschman
Frank Notestein
E.H. Chamberlin
Malthus
Marshall
Ricardo
Marx
Fisher
Mrs. Joan Robinson
Prof. Knight
Ragner Nurkse
J .S. Mill
Prof. Taussig
Adam Smith
Coldwell
Alfred Marshall
A.C. Pigou