Macro Economic Theory I

Paper Code: 
COM 504
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

1. To explain the basic concepts and theories in Macroeconomics to the students.

2. To discuss in detail Macro-Economic policies and changes in various Macro Economic variables

7.00

Macro Economics- Meaning, Definition, Nature, Scope, Importance and Limitations and Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static. A concept of circular flow of Income.

10.00

Classical Theory of Employment- A study of complete classical model, Says Law, Criticism of classical theory.

10.00

Keynes’ theory of Employment and Output- Aggregate Supply, Aggregate Demand, Effective Demand, Comparison between Classical and Keynesian contribution..

8.00

National Income Analysis –Definition, Concepts, Components of National Income.Methods of measuring National Income, Computation of National Income, Difficulties in calculating National Income, Importance of National Income Analysis.

10.00

Economic growth and development: Meaning, difference, factors determining economic growth.

Essential Readings: 

• Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
• Macro economic Theory – M.C. Vaish,Wishwa Prakashan, New Delhi
• Macro Economic Theory, H.L.Ahuja, S.Chand & Sons Publication, Delhi

References: 
  • • Dipsey R.G and Cheystal, Principles of economy, Oxford university Press
  • Macro Economic analysis - Edward Shapiro, Galgotia Publication, Delhi
Academic Year: 
2014-2015
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