Macroeconomic Theory

Paper Code:

24AAF613

Credits:

Contact Hours:

45.00

Max. Marks:

100.00

Objective:

Course Objectives:

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

24AAF613

Macroeconomic Theory

(Theory)

CO211: Gain an understanding on the Macro Economic theory.

CO212: Analyze Keynes’ Theory of employment and output.

CO213:Acquire 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...
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:

2024-2025