Macro Economics

Paper Code: 
ECO 501
Credits: 
3
Contact Hours: 
45.00
Objective: 

To make the students aware of the basic theoretical framework underlying the field of macroeconomics.

 

8.00
Unit I: 
National Income

• Circular flow of Income. • Concepts and methods of measuring the National Income; • Concept of Real and Nominal income; • Problems in measuring National Income; • National Income and welfare.

10.00
Unit II: 
Classical Economics

•    Say’s Law;
•    Determination of Equilibrium output and employment in simple Classical  Model;
•    Classical model involving Savings and Investment;
•    Keynes’ attack on the Classical Model.

11.00
Unit III: 
Keynesian Economics

•    Consumption Function;
•    Investment Function;
•    Determination of equilibrium income, output and employment.

8.00
Unit IV: 
Multiplier & Accelerator

•    Multiplier – Meaning & Working;
•    Static & Dynamic Multiplier;
•    Concept of Tax Multiplier, Government Expenditure Multiplier & Balanced Budget Multiplier;
•    Accelerator – Meaning & Operation;
•    Super Multiplier.
 

8.00
Unit V: 
Economic Growth and Development
  • Economic Development and Growth
  • Measurement of Economic Growth
  • Human Development Indices- PQLI, HDI
  • Factorsof Growth- Economic and Non Economic

 

 

Essential Readings: 

1.    Ahuja, H.L., Macro Economic Analysis, S. Chand.
2.    Rana K.C. & Verma K.N., Macro Economic Analysis(2005-06), Vishal Publishing CO.
3.    Froyen R., Macro Economics, Pearson Education.

References: 

1.    Shapiro, E. (1996), Macroeconomic Analysis, Galgotia Publications, New    Delhi.
2.    Ackley, G. (1976), Macroeconomics: Theory and Policy, Macmillan Publishing Company, New York.
3.    Rastogi, S. and S. Aiyar (1997), National Income and Accounting, Lotus Books.
4.    Schaum’s Outlines, Macro Economics, Tata McGraw Hill.
5.    Vaish, M.C., Macro Economics, Wishwa Prakashan.
6.    Dornbush, Fischer and Startz, Macro Economics, Tata McGraw Hill.
7.    Mankiw, N.G. (6th ed), Macro Economics, Worth Publishers.
 

Academic Session: 
2018-19
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