Coming soon
Macroeconomic Theory -I
To acquaint the students, with the concepts of macroeconomics.
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.
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.
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.
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.
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.
