MACRO ECONOMICS

Paper Code: 
CFSG 211
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to;

 

CO31 Analyse the fundamentals of macroeconomics and examine the concept of circular flow of income

CO32 Critically evaluate the LS-LM framework and principle of effective demand

CO33 Appraise the working of multiplier and accelerator for income propagation

CO34 Assess the components of national income and methods of calculating National Income

CO35 Analyse the factors affecting inflation and movement in trade cycle

Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation.    

 Learning activities for the students:                              Self learning assignments, Effective questions, Seminar presentation, Live practical problems analysis

Observation, Presentation, Report writing

 

12.00
Unit I: 
Introduction:

  

  • Concepts, Scope, Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static
  • Indicators of Economic Growth
  • Difference between growth and Development
  • Circular Flow of Income in two sectors, three sector, and four sector economy
12.00
Unit II: 
Keynesian Theory of Income and Employment:
  • Effective demand: aggregate demand & aggregate supply. determination of effective demand and equilibrium.
  • IS–LM framework – product & money market equilibrium,
  • Psychological Law of Consumption.
12.00
Unit III: 
Investment and Multiplier:
  • Meaning of Investment, Marginal efficiency of capital,
  • Marginal Efficiency of Capital and Investment demand curve,
  • Marginal Efficiency of Capital and rate of interest, factors affecting marginal efficiency of capital.
  • Multiplier: Concept, working of Multiplier & Leakages of Multiplier. Meaning of Accelerator, Difference between Multiplier and Accelerator
12.00
Unit IV: 
Inflation and Trade Cycle
  • Inflation: Introduction, Meaning, Types of Inflation, Inflationary Gap, Demand- Pull and Cost –Push Inflation, Phillip’s Curve, Effects, Causes and Control of Inflation.
  • Trade Cycle: Different Stages of Trade cycle
12.00
Unit V: 
National Income:
  • Components of National Income,
  • Determination of National Income,
  •  Methods of Measuring National Income, Difficulties in Measuring National Income.
Essential Readings: 

SUGGESTED TEXT BOOKS

  • M.L. Seth ,Macro Economic Theory, Laxmi Narayan Agarwal, Agra
  • M.C. Vaish ,Macro economic Theory –,WishwaPrakashan, New Delhi
  • H.L.Ahuja, Macro Economic Theory, , S.Chand& Sons Publication, Delhi
  • T. R Jain, B.D Majhi, KartikArora ,Macroeconomics, VK Publications, New Delhi
  • T. R Jain, O. P Khana, Macroeconomics Analysis and Policy, VK Publications, New Delhi
  • Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
  • Macro economic Theory – M.C. Vaish,Wishwa Prakashan, New Delhi

 

 

SUGGESTED REFERENCE BOOKS

  • Dipsey R.G and Cheystal, Principles of Economy, Oxford university Press
  • Edward Shapiro ,Macro Economic Analysis , Galgotia Publication, Delhi
  • Mithani. D.M, Money,Banking,International Trade and Public Finance., Himalayan Publication, New Delhi
  • Mankiw, N. Gregory. Macro Economics. Macmillan.
  • Oliver, Blanchard. Macro Economics, Pearson Education, LPE.

 

E-RESOURCES

 

REFERENCE JOURNALS

  • Yojana,A development Monthly, Government of India Publication
  • Microeconomics and Macroeconomics, Scientific and Academic Publishing
  • Economics, De Gruyter Open Access
  • International Journal of Economics and Business Research, Inderscience Publisher

 

Academic Year: 
2023-2024
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