बी.ए. (II सेमेस्टर)
अर्थशास्त्र
समष्टि अर्थशास्त्र
B.A. (II Semester)
ECONOMICS
(Macro Economics)

SYLLABUS

Unit-I :

Introduction: What is macro economics? Macro economic issues in an economy. Macro vs. Micro Economics, Limitations of Macro economics; Introduction to National Income. Concepts of GDP.

Unit-II :

National Income Accounting: Concepts of GDP GNP, NDP and NNP at market price and factor cost; Personal Income and Disposable Personal Income. Measurement of National Income- Income, expenditure, product or Value added Methods and related aggregates; nominal and real income; limitations of the GDP concept.

Unit-III

Circular Flow of Income and expenditure in two, three, and four-sector economy. National Income and Economic Welfare; Green Accounting.

Unit-IV 

Classical Theory of Employment. Say's Law of Markets. Keynes' Objection to the Classical Theory; Aggregate Demand and Aggregate Supply Functions; The Principle of Effective Demand; Consumption Function - Average and Marginal Propensity to Consume; Factors influencing Consumption Spending.

Unit-V

: The Investment Multiplier and its Effectiveness in LDCs; Theory of Investment Autonomous and Induced Investment; Marginal Efficiency of Capital; Savings and Investment. - Ex Post and Ex Ante, Equality and Equilibrium. Principle of Accelerator.

Unit-VI

: Rate of Interest: Classical, Neo-Classical and Keynesian Theories of Interest. Indeterminateness in Liquidity Preference Theory.

Unit-VII:

IS-LM Analysis: Derivations of the IS and LM functions; 'IS-LM and aggregate demand; shifts in the AD curve.

Unit-VIII:

Inflation and Unemployment Concept of inflation; determinants of inflation; relationship between inflation and unemployment: Phillips Curve in short run and long run.

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