Macro Economic Theory I

Paper Code: 
BSR 514
Credits: 
03
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

   CourseObjective

The objective of this course to explain basic concept of macro-economics and also discuss different types of macro-economic variables

Course Outcome(COs):

Course

Learning Outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

BSR 514

Macro Economic Theory I
  1. Understand the fundamentals of macroeconomics, aggregate demand and aggregate supply
  2. Critically evaluate the classical aspects of macro economics and the Keynesian macroeconomics concept.
  3. Assess the economic performance by understanding components and methods of calculating  National Income
  4. Identify the source economic growth by understanding the indicator of growth and development

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

Learning activities for the students:

Field activities, Presentation, Giving tasks

Observation, Presentation, Report writing

 

 

7.00

Macro Economics- Meaning, Definition, Nature, Scope, Importance and Limitations and Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static. A concept of the circular flow of Income.

10.00

Classical Theory of Employment- Assumptions, Determination of Full employment output, Says Law of Market: Equilibrium in commodity Market, Implications of Says Law of Market, and Criticism of the classical theory of employment.

10.00

Keynes’ theory of Employment and Output- Aggregate Supply, Aggregate Demand, Effective Demand, Comparison between Classical and Keynesian contribution.

8.00

National Income Analysis –Definition, Concepts, Methods of measuring National Income, Importance of national income,  Difficulties in measuring National Income.

10.00

Economic growth and development: Meaning, the difference between growth and development, indicators of economic growth, the role of economic and non-economic factors in economic development

Essential Readings: 
  • Macro-Economic analysis - Edward Shapiro, Galgotia Publication, Delhi
  • Macro-Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
  • Macroeconomic Theory – M.C. Vaish,Wishwa Prakashan, New Delhi
  • Macro-Economic Theory, H.L.Ahuja, S.Chand & Sons Publication, Delhi
  • Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

 

Academic Year: 
2020-2021
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