Macroeconomic Theory

Paper Code: 
25AAF613
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to understand the basic concepts and theories of macroeconomics. Also, discuss in detail the changes in various Macro Economic variables.

Course Outcomes: 

Course

Course Outcomes

Learning and teaching strategies

Assessment Strategies

Course Code

Course Title

 

 

 

 

 

 

 

 

25AAF613

 

 

 

 

 

 

 

Macroeconomic Theory (Theory)

CO211:        Gain            an understanding             on   the Macro Economic theory. CO212:                                  Analyze Keynes’                 Theory    of employment and output. CO213:Attain knowledge regarding    the              concept, significance,               limitations and           assumptions                  of Multiplier.

CO214:              Calculate National Income using various methods.

CO215:       Order                   the different                   phases                      of business cycles and their impact on the economy. CO216:                          Contribute

effectively in course – specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem                   solving sessions, Presentations

 

 

Learning                    activities for the students: Self-

learning assignments, Case Study Analysis, Presentations,                         Group Discussions

Continuous Assessment Test, Semester End Examinations, Quiz, Assignments, Class Presentations, Individual and group projects.

 

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: 

1. Macro Economics (Money, Banking and Public Finance) TR Jain and OP Khanna, Himalya Publication Delhi
2. Exam Kit

References: 

1. Macro Economic analysis - Edward Shapiro, Galgotia Publication, Delhi
2. Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
3. Macro economic Theory – M.C. Vaish,WishwaPrakashan, New Delhi
4. Macro Economic Theory, H.L.Ahuja, S.Chand& Sons Publication, Delhi
5. Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

E-Content:
1. https://books.google.co.in/books/about/Macroeconomics_20e.html?id=7psGEA... sc=y
2. https://books.google.co.in/books/about/Macroeconomics.html?id=Dv7ADSYJrK...
3. https://books.google.co.in/books/about/Macroeconomics.html?id=w8aaBQAAQB...

Reference Journals:
1. Journal of Macroeconomics https://www.sciencedirect.com/journal/journal-of-macroeconomics
2. American Economic Journal: Macroeconomics https://www.aeaweb.org/journals/mac

Academic Year: 
2025-2026
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