Macro Economic Theory

Paper Code: 
AAF 613
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.

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

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

 

9.00
Unit I: 
Macro Economics

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

18.00
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 Multiplier

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.

9.00
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: 
2021-2022
  • Printer-friendly version
  • PDF version