Macro Economic Theory I

Paper Code: 
COM 504
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To explain the basic concepts and theories in Macroeconomics to the students.
2. To discuss in detail Macro-Economic policies and changes in various Macro Economic variables

7.00
Unit I: 
Micro Economics

Macro Economics
Meaning, Definition, Nature, Scope, Importance and Limitations and Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static. A concept of circular flow of Income.

10.00
Unit II: 
Classical Theory of Employment

Classical Theory of Employment
A study of complete classical model, Says Law, Criticism of classical theory.

10.00
Unit III: 
Keynes’ theory of Employment and Output

Keynes’ theory of Employment and Output
Aggregate Supply, Aggregate Demand, Effective Demand, Comparison between Classical and Keynesian contribution..

8.00
Unit IV: 
National Income Analysis

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

10.00
Unit V: 
Economic growth and developmen

Economic growth and development
Meaning, difference, factors determining economic growth

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,Wishwa Prakashan, New Delhi
Macro Economic Theory, H.L.Ahuja, S.Chand & Sons Publication, Delhi
Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

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