CAT Interview Preparation - Economics: Inflation

We continue with the video series on Economics. In this particular video, we are going to learn about definition of Inflation, differences between CPI, WPI and GDP deflator. We will also touch upon which metrics central banks use for taking policy decisions.

CAT Interview Preparation: de-jargonising Economics - GDP

In this series of videos, we hope to simplify some ideas on key topics on Economics. The focus is to explain the terminology and lay down the framework for further reading. Note that we may have erred on the side of oversimplification on some of these ideas. So, kindly do more reading than this in order to get ready for the interviews. Since most of the interviews happen during budget season, these terms are "in the air", so be well prepared for them.

In this particular video, we are going to learn about definition of GDP, key components of GDP, difference between GDP and GNP, difference between real growth and nominal growth, meaning of purchasing power parity and other related terms.