MACRO ECONOMICS

Paper Code: 
CFSG 203
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

 
 

On completion of this course, the students will be able to;

 

CO 36: Analyse the fundamentals of macroeconomics and examine the concept of the circular flow of income

CO 37: Critically evaluate the LS-LM framework and principle of effective demand

CO 38: Appraise the working of multiplier and accelerator for income propagation

CO 39: Assess the components of national income and methods of calculating National Income

CO 40: Analyse the factors affecting inflation and movement in trade cycle

Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation.    

 Learning activities for the students:                              Self learning assignments, Effective questions, Seminar presentation, Live practical problems analysis

Observation, Presentation, Report writing

  

 

12.00
Unit I: 
Introduction:

 

  • Concepts, Scope, Types of Macro Economics-Macro Static, Macro Dynamic and Comparative Static
  •  Indicators of Economic Growth
  •  Difference between growth and Development
  • Circular Flow of Income in two sectors, three sector, and four sector economy               

                                                                                                                

12.00
Unit II: 
Keynesian Theory of Income and Employment:
  • Effective demand: aggregate demand & aggregate supply. determination of effective demand and equilibrium.
  • IS–LM framework – product & money market equilibrium,
  • Psychological Law of Consumption.

 

12.00
Unit III: 
Investment and Multiplier:
  • Meaning of Investment, Marginal efficiency of capital,
  • Marginal Efficiency of Capital and Investment demand curve,
  •  Marginal Efficiency of Capital and rate of interest, factors affecting marginal efficiency of capital.
  • Multiplier: Concept, working of Multiplier & Leakages of Multiplier. Meaning of Accelerator, Difference between Multiplier and Accelerator

 

12.00
Unit IV: 
Inflation and Trade Cycle:

                                                                                                                                                                                           

  • Inflation: Introduction, Meaning, Types of Inflation, Inflationary Gap, Demand- Pull and Cost –Push Inflation, Phillip’s Curve, Effects, Causes and Control of Inflation.
  • Trade Cycle: Different Stages of Trade cycle

 

12.00
Unit V: 
National Income:

                                                                                   

  • Components of National Income,
  • Determination of National Income,
  • Methods of Measuring National Income, Difficulties in Measuring National Income.

 

 

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
  • Macro Economic theory - M.L. Seth, Laxmi Narayan Agarwal, Agra
  • Macro economic Theory – M.C. Vaish,Wishwa Prakashan, New Delhi

 

 

References: 
  • 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-RESOURCES

 

REFERENCE 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: 
2023-2024
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