Macro Economic Theory – I

Paper Code: 
ATG-514
Credits: 
3
Contact Hours: 
45.00
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
Unit I: 

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
Unit II: 

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

10.00
Unit III: 

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

8.00
Unit IV: 

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

10.00
Unit V: 

National Income & Economic Welfare.

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

 

Essential Readings: 
  1. Macro Economic analysis - Edward Shapiro, Galgotia Publication, Delhi
  2. Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
  3. Macro economic Theory – M.C. Vaish,Wishwa Prakashan, New Delhi
  4. Macro Economic Theory, H.L.Ahuja, S.Chand & Sons Publication, Delhi
  5. Dipsey R.G and Cheystal, Principles of economy, Oxford university Press
Academic Year: 
2018-2019
  • Printer-friendly version
  • PDF version