MACRO ECONOMIC THEORY

Paper Code:

AAF 613

Credits:

Contact Hours:

45.00

Max. Marks:

100.00

Objective:

Course Outcomes (COs):

Course Outcomes	Learning and teaching strategies	Assessment Strategies
On completion of this course, the students will be able to: CO192: Gain an understanding on the Macro Economic theory. CO193: Analyze Keynes’ Theory of employment and output. CO194: Understand the concept, Significance, Limitations and assumptions of Multiplier. CO195: Focus on the various aspects of National Income. Calculate National Income using various methods. CO196: Order the different phases of business cycles and their impact on the economy.	Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation, 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

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO192: Gain an understanding on the Macro Economic theory.

CO193: Analyze Keynes’ Theory of employment and output.

CO194: Understand the concept, Significance, Limitations and assumptions of Multiplier.

CO195: Focus on the various aspects of National Income. Calculate National Income using various methods.

CO196: Order the different phases of business cycles and their impact on the economy.

Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation, 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.

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 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 Economics (Money, Banking and Public Finance) TR Jain and OP Khanna, Himalya Publication Delhi
• Exam Kit

References:

• 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

e- RESOURCES:
• https://books.google.co.in/books/about/Macroeconomics_20e.html?id=7psGEA...
• https://books.google.co.in/books/about/Macroeconomics.html?id=Dv7ADSYJrK...
• https://books.google.co.in/books/about/Macroeconomics.html?id=w8aaBQAAQB...

REFERENCE JOURNALS:

• Journal of Macroeconomics
https://www.sciencedirect.com/journal/journal-of-macroeconomics
• American Economic Journal: Macroeconomics
https://www.aeaweb.org/journals/mac

Academic Year:

2023-2024