Macro Economics Theory -I

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

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

HRG 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
Unit I: 
Macro Economics

 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

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

 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

 National Income Analysis

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

 

Unit V: 
Economic Growth and Development

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

References: 
  • 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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