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Macroeconomics [1]

Paper Code: 
ECO 501
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

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

10.00
Unit I: 
Classical Economics
  • Say’s Law;
  • Determination of Equilibrium output and employment in simple Classical  Model;
  • Keynes’ attack on the Classical Model.
11.00
Unit II: 
Keynesian Economics
  • Consumption Function;
  • Investment Function;
  • Determination of equilibrium income, output and employment.
8.00
Unit III: 
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 IV: 
Business Cycles
  • Business cycles : Meaning & Phases
  • Theories of business cycles : Sunspot theory, Psychological theory, Over investment theory, Keynes’ Theory
  • Measures to control Business cycle
8.00
Unit V: 
Economic Growth and Development
  • Economic Development and Growth
  • Measurement of Economic Growth
  • Human Development Indices – PQLI, HDI
  • Factors of Growth – Economic and Non Economic.
Essential Readings: 
  1. Ahuja, H.L., Macroeconomic Analysis, S. Chand.
  2. Rana K.C. & K.N. Verma, Macro Economic Analysis , Vishal Publishing CO.
  3. Froyen R., Macroeconomics, Pearson Education.
  4. Jhingan M.L., The Economics of Development of Planning, Vrinda Publications (P) Ltd., New Delhi.
References: 
  1. Shapiro, E., Macroeconomic Analysis, Galgotia Publications, New    Delhi.
  2. Ackley, G., Macroeconomics: Theory and Policy, Macmillan Publishing Company, New York.
  3. Rastogi, S. and S. Aiyar , National Income and Accounting, Lotus Books.
  4. Schaum’s Outlines, Macroeconomics, Tata McGraw Hill.
  5. Vaish, M.C., Macroeconomics, Wishwa Prakashan.
Academic Session: 
2019-20 [2]

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[1] https://economics.iisuniv.ac.in/courses/subjects/macroeconomics
[2] https://economics.iisuniv.ac.in/academic-session/2019-20