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Macro Economics
The students will be enabled to comprehend macroeconomic concepts, analyze Keynesian theory, understand investment dynamics, explore inflation, trade cycles, and national income measurement methods.
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Course |
Learning outcome (at course level) |
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Course Code |
Course Title |
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25CFSG 203 |
Macro EconomicsTheory) |
CO43:Analyse and examine macroeconomics and the concept of the circular flow of income CO44: Evaluate the theories of Income and Employment. CO45: Appraise the working of multiplier and accelerator for income propagation CO46: Analyse the factors affecting inflation and movement in the trade cycle CO47: Assess the components of national income and methods of calculating National Income CO48: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, discussions, Tutorials, PowerPoint presentations. Learning activities for the students: Self-learning assignments, Seminar presentation. |
Class participation, Quiz, assignments, and presentations, C A Test, Semester End Exams. |
: Introduction (12 Hours)
• 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
• Practical: Analyze and discuss local economic indicators to understand growth trends
Classical and Keynesian Theory of Income and Employment: (12 Hours)
• Classical Theory – Determination of Full employment output, Say’s Law of Market
• Keynesian Theory: Effective demand, determination of effective demand and equilibrium.
• Difference between Classical and Keynesian theory.
• Psychological Law of Consumption
• Practical: Discuss how government spending affects jobs in real-life examples
Investment and Multiplier (12 Hours)
• 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
• Practical: Presentation on the impact of a recent investment project on local employment
Inflation and Trade Cycle (12 Hours)
• Inflation: Introduction, Meaning, Types of Inflation, Inflationary Gap, Demand- Pull and Cost –Push Inflation, Effects, Causes and Control of Inflation.
• Trade Cycle: Different Stages of Trade cycle
• Practical: Analyze recent inflation data and its effects on consumer behavior
National Income (12 Hours)
• Defination of National Income, Components of National Income
• Methods of Measuring National Income
• Importance of National Income
• Difficulties in Measuring National Income
• Practical: Power Point presentation on components of National Income
• 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
• 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-Content:
• https://www.expresslibrary.mheducation.com/bookshelf
• https://m.rbi.org.in/scripts/Publications.aspx
• National Digital Library
• World Ebook Library
• https://www.pdfdrive.com/macroeconomics-e158130218.html
• https://www.pdfdrive.com/intermediate-macroeconomics-books.html
• https://www.pdfdrive.com/principles-of-macroeconomics-e18719078.html
