Macro Economic Theory

Paper Code: 
AAF 613
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

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

Course Outcome (COs):

 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 613

Macro Economic Theory-II

CO 207: Acquire knowledge about basic as well as advance concepts of consumption function.

 

CO 208: Absorb the knowledge about Investment and the concept of Marginal Efficiency of Capital.

 

CO 209: Understand the various aspects of Investment multiplier and accelerator.

 

CO 210: Comprehend the different types of inflation and its impact on the economy.

 

CO 211: Acquire knowledge about the difference phases of business cycles and its impact on the economy.

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

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects, Case Study Analysis

 

9.00

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

9.00

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

9.00

Concept of Multiplier- Assumptions of multiplier, Working of multiplier, Leakages of multiplier. Significance and Limitations of multiplier.

9.00

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

9.00

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: 
2020-2021
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