Index Number

🎉 Master Index Numbers with Dr. Mohd Saifi Anwar's Advanced Course! **Course Title: Learn Index Number - Advanced_'_

🚀 Course Headline: Dive Deep into the World of Economic Analysis with Index Numbers!

Course Description:

Index numbers are not just a set of figures; they are the heartbeats of economies, reflecting changes in prices, quantities, and economic trends. In this comprehensive course, you will embark on a journey to understand and master index numbers, their applications, and significance in the realm of economics.

What You'll Learn:

• The Essence of Index Numbers: Discover the relationship between figures, measure changes in markets, and understand how index numbers are used to reflect price, quantity, and production variations.

• Historical Context: Trace back to 1764, when Professor CARLI, a renowned statistician, first introduced the concept of index numbers.

• Core Concepts: Learn about the characteristics that define index numbers:

  • They are specialized averages.
  • They are expressed in percentages.
  • They measure changes not directly measurable.
  • They serve for comparison purposes.

• Purpose, Importance, and Uses:

  • Measuring and comparing changes over time.
  • Assessing the purchasing power of money.
  • Guiding policy formation.
  • Studying economic trends.
  • Deflating values for accurate comparisons.
  • Acting as barometers for economic health.

• Limitations:

  • Understand the limitations, such as the estimate of relative changes and lack of accuracy due to varying purposes and factors.

• Types of Index Numbers: Explore different kinds of index numbers:

  • Price Index
  • Quantity Index
  • Value Index
  • Special Purpose Index

• Constructing Index Numbers: Learn about the methods used to construct index numbers, including:

  • Fixed Base Method (Single Year and Fixed Year Average)
  • Base Conversion Techniques (from fixed base to chain base and vice versa)
  • The Weighted Aggregative Method (Fisher’s Ideal Index Number) and its alternatives.

• Diagnostic Tests: Gain insights into the Reversibility Test, including:

  • Time Reversal Test
  • Factor Reversal Test

• Specific Index Numbers: Get familiar with various index numbers like:

  • Paasche’s and Laspeyre’s Index Numbers
  • Dorbish & Bowley’s Index Number
  • Marshall – Edgeworth’s Index Number

• Family Budget or Weighted Average of Price Relatives Method

• Revision MCQs: Strengthen your understanding with some important multiple-choice questions designed for revision.

Why Take This Course?

• Real-World Application: Learn how index numbers are applied in real-world economics, from policy decisions to business strategy and market analysis.

• Expert Instruction: Be guided by Dr. Mohd Saifi Anwar, an expert in the field with a wealth of knowledge to share.

• Interactive Learning: Engage with the material through interactive examples, quizzes, and exercises that will solidify your understanding of index numbers.

• Flexible & Accessible: Study at your own pace from anywhere in the world, making this course ideal for professionals, students, and lifelong learners.

Join us now and unlock the power of economic indicators with Index Number - Advanced! 📊🎉

Key Topics Covered:

• Historical Development & Father of Index Numbers
• Characteristics of Index Numbers
• Purpose, Importance, & Uses in Economy
• Types of Index Numbers
• Methods of Constructing Index Numbers
• Diagnostic Tests for Index Numbers (Paasche, Laspeyre)
• Family Budget Method
• Limitations of Index Numbers
• Real-World Applications & Case Studies
• MCQs for Comprehensive Revision

🎓 Embark on your journey to become an index number guru today! 🎓