Macro Economic Analysis

Paper Code: 
MMC 223
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

To explain the advanced concepts of Macroeconomics and various   aspects of consumption, investment function, multiplier concept and business cycle

18.00
Unit I: 
Macro Economics

  Definition, Nature, Scope, Types of Macro Economics Analysis-Macro Static, Macro Dynamic and Comparative Static .

Says’s Law of market-Meaning assumption, explanation & criticism.

18.00
Unit II: 
Classical theory of Employment :

 Meaning ,Type of unemployment, Assumption, Explanation of classical theory of employment & criticism

Keynesian Theory of employment: Introduction Assumption, Explanation , Criticism

18.00
Unit III: 
Consumption function –

Meaning, Attributes, Factors affecting consumption function and psychological law of consumption.

Investment functions: Meaning , Investment, Types of investment, Marginal efficiency of capital- Factors affecting MEC,MEC and ROI, Investment demand curve.

18.00
Unit IV: 
Multiplier –

 Working of Multiplier, Assumptions of Multiplier, significance and limitations of multiplier Leakages of Multiplier.

Accelerator- Meaning, Principles, Multiplier-Accelerator interaction

18.00
Unit V: 
Inflation:

Meaning, definition, cost push inflation, demand pull inflation, inflationary gap, measures to control inflation, effects of inflation.

Trade Cycle- meaning, Stages of trade cycle, theories of trade cycle; Keynesian theory of trade cycle, Schumpeter theory of trade cycle

Essential Readings: 
  • Macro Economic analysis - Edward Shapiro, Galgotia Publication, Delhi
  • Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
  • Macro economic Theory – M.C. Vaish,WishwaPrakashan, New Delhi
  • Macro Economic Theory, H.L.Ahuja, S.Chand& Sons Publication, Delhi
Academic Year: 
2019-2020
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