Principles of Macroeconomics-I

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Week - 1Nature and Scope of MacroeconomicsImportance and limitations of Macro EconomicsBasic concepts of Macro Economics
Week - 2Business cyclesCircular flow of National IncomeNational Income and related concepts

Week - 3Concepts of National IncomeIncome and output methods of measurement of National IncomeExpenditure method of measurement of National IncomeProblems in measurement of National Income and its significance

Week - 4Nominal GDP, Real GDP, Potential GDP, National Product and Economic Welfare.Aggregate Demand/ExpenditureAggregate Supply & Short Run Equilibrium through AD & ASConsumption Function
Week - 5Psychological Law of ConsumptionVarious Determinants of ConsumptionAbsolute Income Hypothesis and Relative Income HypothesisPermanent Income Hypothesis
Week - 6Saving and Investment FunctionEquilibrium GDPAutonomous Expenditure and MultiplierFeatures, Limitations, Leakages and significance of Multiplier
Week - 7Fiscal Policy – Instruments, Objectives and AchievementsFiscal Policy in a Developing Economy, Limitations and Types of Fiscal PolicyImpact of fiscal policy on demand side and supply side
Week - 8Impact of Government Expenditure and Taxes on National IncomeNet Exports and Equilibrium of National IncomeDefinition and Evolution of Money
Week - 9Definition and Evolution of MoneyFunctions of MoneyDemand for Money
Week - 10Fisher’s Quantity Theory of MoneyCash Balance Approach to the Quantity TheoryMilton Friedman’s Quantity Theory of Money
Week - 11Keynesian Liquidity Preference Theory of Rate of InterestMoney supplyCredit creation

Week - 12Monetary Policy and its ObjectivesMethods of Credit ControlThe Monetary Transmission Mechanism


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