Macro Economic Theory I

Paper Code: 
BSG 514
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To explain the basic concepts and theories in Macroeconomics and discuss in detail Macro-Economic policies and changes in various Macro Economic variables

Course

Learning Outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

BSG 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 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 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, difference between growth and development, indicators of economic growth, 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

Macro economic 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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