Macro Economic Theory

Paper Code: 
AAF613
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To explain the basic concepts and theories of Macroeconomics to the students. Also, discuss in detail the changes in various Macro Economic variables.

9.00
Unit I: 
Macro Economics

Meaning, Definition, Nature, Scope, Importance and Limitations, Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static.

9.00
Unit II: 
Keynes’ theory of Employment and Output

Aggregate demand, Aggregate supply, Effective demand and Complete model of Keynes’s theory, Criticisms of theory.

9.00
Unit III: 
Concept of Miltiplier

Assumptions of multiplier, Working of multiplier, Leakages of multiplier. Significance and Limitations of multiplier.

9.00
Unit IV: 
National Income Analysis

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

Unit V: 
Inflation

Introduction, meaning of inflationary gap, effects and control of inflation.
Business Cycle- Meaning and phases of business cycle- Recovery, Propriety, Recession, Depression.

Essential Readings: 

• Macro Economic analysis - Edward Shapiro, Galgotia Publication, Delhi
• Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
• Macro economic Theory – M.C. Vaish,WishwaPrakashan, New Delhi
• Macro Economic Theory, H.L.Ahuja, S.Chand& Sons Publication, Delhi
• Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

Academic Year: 
2019-2020
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