Macro Economic Theory I (Theory)

Paper Code: 
ATG/BSG/FSG/BSR/FSM/HRG/IBG 514
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course to explain basic concept of macro-economics and also discuss different types of macro-economic variables

COURSE OUTCOMES (COs):

Course

Learning outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG/BSG/FSG

/BSR/FSM/

HRG/IBG 514

Macro Economic Theory I

CO 1:Understand the fundamentals of macroeconomics, aggregate demand and aggregate supply

CO 2:Critically evaluate the classical aspects of macro economics and the Keynesian macroeconomics concept.

CO 3:Assess the economic performance by understanding components and methods of calculating  National Income

CO 4:Identify the source economic growth by understanding the indicator of growth and development

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

Learning activities for the students:

Field activities, Presentation, Giving tasks

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

 

7.00
Unit I: 
Macro Economics
  • Meaning, Definition, Nature, Scope,
  • Importance and Limitations
  • 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-
  • Assumptions, Determination of Full employment output,
  • Says Law of Market: Equilibrium in commodity Market,
  • Implications of Says Law of Market,
  • Criticism of classical theory of employment.
10.00
Unit III: 
Keynes’ theory of Employmentand Output-
  • Aggregate Supply, Aggregate Demand,
  • Effective Demand, Comparison between Classical and Keynesian contribution.

 

8.00
Unit IV: 
National Income Analysis
  • Definition, Concepts, Methods of measuring National Income,
  • Importance of national income,
  • Difficulties in measuring National Income.

 

10.00
Unit V: 
Economic growth and development:
  • Meaning, difference between growth and development,
  • indicators of economic growth, role of economic and non economic factors in economic development

 

Essential Readings: 

 

 

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

 

 

Academic Year: 
2020-2021
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