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Master of Commerce (M.Com.) Macro Economics Concepts and Applications Syllabus - Mumbai University 2026

Macro Economics Concepts and Applications Syllabus.pdf
Mandatory course · Semester 1 · M.Com. Business Economics · 4 credits

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Syllabus for Macro Economics Concepts and Applications

Mandatory course · Semester 1 · M.Com. Business Economics · 4 credits

Module I: National Income and Keynesian Concepts (2

  • Credits)
  • Unit 1 Aggregate Income and its Dimensions Aggregate Income and its dimensions: National income aggregates- GNP, GDP, NDP, Real and nominal income concepts, Green Gross Domestic Product (GGDP) , measurement of National Income and its difficulties, measures of inflation and price indices - GDP deflator, - Nominal and real interest rates- HDI
  • Unit 2 Keynesian Concepts of Aggregate Demand (ADF), Aggregate Supply (ASF) Keynesian concepts of Aggregate Demand (ADF), Aggregate Supply (ASF), Interaction of ADF and ASF and determination of real income; Inflationary gap Policy trade- off between Inflation and unemployment – Phillips’ curve – short run and long run

Module II: IS-LM Framework and Macroeconomic Policy (2 Credits)

  • Unit 3 Economic Policy Implications in the IS-LM framework The IS-LM model: Equilibrium in goods and money market; Monetary and real influences on IS-LM curves, Economic fluctuations and Stabilization policies in ISLM framework - Transmission mechanism and the crowding out effect; composition of output and policy mix, IS-LM in India
  • Unit 4 International Aspects of Macroeconomic Policy International aspects of Macroeconomic policy: Balance of payments disequilibrium of an open economy - corrective policy measures -Expenditure changing policies and expenditure switching policies BOP adjustments through monetary and fiscal policies - The Mundell-Fleming model - effectiveness of devaluation and J - curve effect

Suggested References

  • 1 Mehta, P.L.: Managerial Economics – Analysis, Problem and Cases (S. Chand & Sons, N. Delhi, 2000)
  • 2 Hirchey .M., Managerial Economics, Thomson South western (2003)
  • 3 Salvatore, D.: Managerial Economics in a global economy (Thomson South Western Singapore,
  • 4 Frank R.H, Bernanke.B.S.,Principles of Economics (Tata McGraw Hill (ed.3)
  • 5 Gregory Mankiw., Principles of Economics, Thomson South western (2002 )
  • 6 Samuelson &Nordhas.: Economics (Tata McGraw Hills, New Delhi, 2002)
  • 7 Pal Sumitra, Managerial Economics cases and concepts (Macmillan, New Delhi,2004)

Reproduced from the University of Mumbai syllabus for M.Com. (Business Economics) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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