MACRO-ECONOMIC THEORY I (THEORY)

Paper Code: 
BSR 514
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes(COs):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

Upon successful completion of this course, the student will be able to:

CO180:Students will analyze the fundamentals of macroeconomics and examine the concept of circular flow of income

CO181:Students will Critically evaluate the classical theory of income and employment

CO182:Students will examine the Keynesian theory of employment and output.

CO183:Students will analyze the concepts of national income and methods of calculating National Income

CO184:Students will explore the factors affecting economic growth and interpret the indicator of growth and development

Approach in teaching:

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

 

Observation, Presentation, Report writing

 

7.00
Unit I: 
Macro Economics-
  • Meaning, Definition, Nature, Scope,
  • Importance and Limitations
  • Types of Macro Economics-Macro Static,
  • Macro Dynamic and Comparative Static. A concept of circular flow of Income.

 

10.00
Unit II: 
Classical Theory of Employment-
  • Assumptions, Determination of Full employment output,
  • Says Law of Market: Equilibrium in commodity Market,
  • Implications of Says Law of Market,
  • Criticism of classical theory of employment.

 

10.00
Unit III: 
Keynes’ theory of Employment and Output-
  • Aggregate Supply, Aggregate Demand,
  • Effective Demand, Comparison between Classical and Keynesian contribution.

 

8.00
Unit IV: 
National Income Analysis
  • Definition, Concepts, Methods of measuring National Income,
  • Importance of national income, 
  •  Difficulties in measuring National Income.
10.00
Unit V: 
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: 
  • M.L. Seth ,Macro Economic Theory, Laxmi Narayan Agarwal, Agra
  • M.C. Vaish ,Macro economic Theory –,WishwaPrakashan, New Delhi
  • H.L.Ahuja, Macro Economic Theory, , S.Chand& Sons Publication, Delhi
  • T. R Jain, B.D Majhi, KartikArora ,Macroeconomics, VK Publications, New Delhi
  • T. R Jain, O. P Khana, Macroeconomics Analysis and Policy, VK Publications, New Delhi

 

References: 

SUGGESTED READINGS

  • Dipsey R.G and Cheystal, Principles of Economy, Oxford university Press
  • Edward Shapiro ,Macro Economic Analysis , Galgotia Publication, Delhi
  • Mithani. D.M, Money,Banking,International Trade and Public Finance., Himalayan Publication, New Delhi
  • Mankiw, N. Gregory. Macro Economics. Macmillan.
  • Oliver, Blanchard. Macro Economics, Pearson Education, LPE.

 

E-READINGS

 

JOURNALS

  • Yojana,A development Monthly, Government of India Publication
  • Microeconomics and Macroeconomics, Scientific and Academic Publishing
  • Economics, De Gruyter Open Access
  • International Journal of Economics and Business Research, Inderscience Publisher

 

Academic Year: 
2022-2023
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