Major · Economics · Semester 3 · SY BA · 4 credits · 100 marks · 60 hours
Module 1: INTRODUCTION TO MACRO ECONOMICS (15 Hours)
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Macroeconomics: Meaning, Nature, scope and importance and limitations. Macroeconomic Schools of Thought: Classical, New Classical, Keynesian, Monetarist, New Keynesian, Austrian Selected Macroeconomic Indicators: Economic Growth, Gross Domestic Product, Income and Savings indicators, Consumer Spending indicators, Prices and Inflation indicators
Module 2: EMPLOYMENT, CONSUMPTION AND TRADE CYCLE (15 Hours)
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Say’s law: Features, implications, criticism Effective demand: ADF, ASF factors affecting and determination of employment and output Consumption: Factors affecting consumption, Average and Marginal Propensity to consume, psychological law of consumption. Trade cycle: Features, stages, and limitations.
Module 3: SAVING, INVESTMENT AND MONEY (15 Hours)
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Saving: Savings function, properties of Average Propensity to Save and Marginal Propensity to Save, Role of saving in economic growth. Practical sums on properties. Investment: Investment function, types, Factors affecting MEC, Investment multiplier its importance, Working, Leakages, and Limitations Demand for money: Classical approach, Keynesian and Monetary approach. Supply of money: Constituent, Factors affecting, Velocity of circulation of money
Module 4: Banking in India (15 Hours)
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Banking in India: Commercial Banking, Functions of Commercial Banks, Credit Creation, Balance Sheet of Commercial Bank, Development in Commercial Banking Sector in postreform period Central Bank: Its role and functions.
References
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1
Abel A.B.B.S. Beranake and D. Croushore (2013), Macro Economics, Pearson, New Delhi.
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2
Ahuja H.L. (2008), Macro Economics theory and policy, S. Chand and Company Ltd. New Delhi.
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3
Dombusch Rudiger, Fischer, Stanley and Startz, (2017) (Indian Edition), Macro Economics Delhi; Mcgrow Hill Publication.
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4
Dwivedi D.N.(2007) Macro Economics theory and policy, Tata Mcgrow- Hill Publication Company Ltd. Delhi.
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5
Errol D’Souza (2009): Macroeconomics, Pearson Education Asia, New Delhi.
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6
N. Gregory Mnakiv, (2015), Principle of Macro Economics, 7th Edition, Cengage Learning.
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7
Richard T. Froyen (2005): Macroeconomics, 2 nd Edition, Pearson Education Asia, New Delhi.
