To 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 |
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AAF 613 |
Macro Economic Theory-II |
Upon successful completion of this course, the student will be able to: CO 198: Gain an understanding on the Macro Economic theory. CO 199: Analyze Keynes’ Theory of employment and output. CO 200: Understand the concept, Significance, Limitations and assumptions of Multiplier. CO 201: Focus on the various aspects of National Income. Calculate National Income using various methods. CO 202: Order the different phases of business cycles and their 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 |
Meaning, Definition, Nature, Scope, Importance and Limitations, Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static.
Aggregate demand, Aggregate supply, Effective demand and Complete model of Keynes’s theory, Criticisms of theory
Assumptions of multiplier,Working of multiplier, Leakages of multiplier. Significance and Limitations of multiplier.
Definition, Concepts, Components of National Income. Methods of measuring National Income, Difficulties in calculating National Income, Importance of National Income Analysis.
Introduction, meaning of inflationary gap, effects and control of inflation.
Business Cycle- Meaning and phases of business cycle- Recovery, Propriety, Recession, Depression
• 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