MACRO-ECONOMIC THEORY I (THEORY)

Paper Code: 
MACRO-ECONOMIC THEORY I (THEORY)
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes

Learning and teaching strategies

Assessment Strategies

 
 

Upon successful completion of this course, the student will be able to:

CO 180 :Students will analyze the fundamentals of macroeconomics and examine the concept of circular flow of income

CO 181: Students will Critically evaluate the classical theory of income and employmen\

CO 182: Students will examine the Keynesian theory of employment and output.

CO 183 :Students will analyze the concepts of national income and methods of calculating National Income

CO 184 : Students will explore the factors affecting economic growth and interpret the indicator of growth and development

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

 

Observation, Presentation, Report writing

 

 

9.00

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

9.00

Classical Theory of Employment-
• Assumptions, Determination of Full employment output,
• Says Law of Market: Equilibrium in commodity Market,
• Implications of Says Law of Market,
• Criticism of classical theory of employment.

9.00

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

9.00

National Income Analysis
• Definition, Concepts, Methods of measuring National Income,
• Importance of national income,
• Difficulties in measuring National Income.

9.00

Economic growth and development:
• Meaning, difference between growth and development,
• indicators of economic growth, role of economic and non-economic factors in economic development

Essential Readings: 

• 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

References: 

• 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.

Academic Year: