Course Outcomes (COs):
Course |
Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Paper Code |
Paper Title |
|||
ECO 312 |
Intermediate Macroeconomics-I |
CO35: Students will compare the theories of income, employment, and output determination in context to classical and Keynesian approaches. CO36: Students will interpret the various consumption hypothesis and concepts of investment. CO37: Students will examine the working of IS -LM model. |
Approach in teaching: Interactive Lectures, Discussion, Case studies.
Learning activities for the students: Presentations, Assignments and Group discussions. |
Class activity, Assignments and Semester end examinations. |
Say’s law, Simple classical model of output determination, effect of changes, Keynes’ critique of the classical model.
Simple Keynesian model of employment and income determination.
Working of investment multiplier; concepts of tax multiplier, government expenditure multiplier and balanced budget multiplier.
Absolute income hypothesis, relative income hypothesis, life-cycle hypothesis and permanent income hypothesis. Investment – Components and determinants; Acceleration Principle.
Goods market and IS curve, Money market and LM curve- graphic and algebraic derivation, Simultaneous equilibrium in the goods and money market.
Factors affecting equilibrium income and interest rate, relative effectiveness of monetary and fiscal policy.