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IIS Univ
  • Admissions

    It is a University which is committed to excellence and overall development of the student...

  • Placements

    Excellent education not only imparts knowledge, but also paves the way for...

  • Life@IIS Univ

    Life @ IISU is nothing less than a kaleidoscope of myriad hues; complete with...

  • Academics

    Taking the age-old tradition of enlightenment through education forward,...

  • Research

    To stimulate curiosity and cater to the global needs of a dynamic education,...

  • About Us

    The IIS University, with its perfect amalgamation of innovation, inspiration...

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India

Phone:- +91-141-2400160-61, 2397906-07,

Fax: 2395494,2781158, Toll Free No.: 1800 180 7750

Macroeconomic Theory -I | Economics

Macroeconomic Theory -I

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Paper Code: 
ECO 122
Credits: 
4
Contact Hours: 
60.00
Objective: 

To acquaint the students, with the concepts of macroeconomics.

12.00
Unit I: 

Introduction                                                                                                 Origin and Development of Macroeconomics- Classical, Keynes, New Classical sand New Keynesian views.                                                                                                                 National Income Accounting                                                                                                       National income - concepts and measurement, Recent Changes in National Income Estimation in India, Interrelationship between National Income and Economic Welfare, Flaws in conventional system of National Income Accounting, Green Accounting.

12.00
Unit II: 
Theory of Consumption

Keynes’ psychological law of consumption; short run and long run consumption functions; Kuznets’ consumption Puzzle, Irving Fisher and Inter-temporal Choice; Consumption hypotheses -Absolute, relative, life-cycle and permanent income.

12.00
Unit III: 

Theory of Demand for Money                                                                        Classical, Keynesian and Post Keynesian Theories of demand for Money (Baumol, Tobin, Friedman and Patinkin)                                                                              Supply of Money                                                                                            Components of money supply, RBI’s approach to money supply, H theory of Money Supply.                                                                                                          Theory of Investment                                                                                     Components of investment; marginal efficiency of capital and marginal efficiency of investment; Neoclassical theory, Accelerator theory, Tobin’s Q theory.

12.00
Unit IV: 
Classical Macroeconomics

Classical Macroeconomics                                                                                      Simple Classical model –equilibrium output and employment; Says law of Masrket and Quantity Theory of Money; Classical theory of interest rate; policy implications of the Classical equilibrium model; Classical model with savings and investment, Classical Model by the aggregate demand and aggregate supply approach.

12.00
Unit V: 
Keynesian System

Equilibrium in the Product Market – The aggregate demand and aggregate supply approach, Savings- Investment approach; Multiplier- Working, Static and Dynamic and different concepts of multipliers. Keynesian theory of interest rate and money demand. Keynesian Theory of Employment, Complete Keynesian Model.

Essential Readings: 
1. Rastogi Saurabh and Aiyar Shekhar, National Income and Accounting, Lotus Books.
 
2. Richard,T.Froyen, Macroeconomics: Theories and Policies, Pearson Education India;      10 edition ,2013.
 
3. Branson, W. H., Macroeconomic Theory and Policy, Affilated East-west Press Pvt
    Ltd.; 3rd edition, 2005.
 
4. Gregory Mankiw, Macroeconomics, Worth Publishers Inc.,U.S.,5th Revised edition,          2002.
 
5. Edgemond, P., Macroeconomics, PHI, New Delhi, 1999.
 
6. Vaish, M.C. Macroeconomic Theory, Vikas Publishing House, New Delhi, 14th
    Edition, 2014.

 

Academic Session: 
2018-19
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