Principles of Macroeconomics-I

By Dr. Kamlesh Gakhar   |   Maharshi Dayanand University, Rohtak
Learners enrolled: 469

After successfully completing this course, the students will be able to understand and comprehend:

1. Various macroeconomic issues                                     

2. The determinants of national income

3. The role of monetary and fiscal policies

4. The role of money in an economy

This course will be beneficial to students of economics.
commerce and for all students preparing for competitive examinations like IAS and IES etc

Course Status : Completed
Course Type : Core
Duration : 15 weeks
Category :
  • Humanities and Social Sciences
Credit Points : 4
Level : Undergraduate
Start Date : 25 Jul 2022
End Date : 31 Oct 2022
Enrollment Ends : 15 Sep 2022
Exam Date :

Page Visits

Course layout

Week - 1
 Nature and Scope of Macroeconomics
 Importance and limitations of Macro Economics
 Basic concepts of Macro Economics

Week - 2
 Business cycles
 Circular flow of National Income
 National Income and related concepts

Week - 3
 Concepts of National Income
 Income and output methods of measurement of National Income
 Expenditure method of measurement of National Income
 Problems in measurement of National Income and its significance

Week - 4
 Nominal GDP, Real GDP, Potential GDP, National Product and Economic Welfare.
 Aggregate Demand/Expenditure
 Aggregate Supply & Short Run Equilibrium   through AD & AS
 Consumption Function

Week - 5
 Psychological Law of Consumption
 Various Determinants of Consumption
 Absolute Income Hypothesis and Relative Income Hypothesis
 Permanent Income Hypothesis

Week - 6
 Saving and Investment Function
 Equilibrium GDP
 Autonomous Expenditure and Multiplier
 Features, Limitations, Leakages and significance of Multiplier

Week - 7
 Fiscal Policy – Instruments, Objectives and Achievements
 Fiscal Policy in a Developing Economy, Limitations and Types of Fiscal Policy
 Impact of fiscal policy on demand side and supply side

Week - 8
 Impact of Government Expenditure and Taxes on National Income
 Net Exports and Equilibrium of National Income
 Definition and Evolution of Money

Week - 9
Definition and Evolution of Money
Functions of Money
Demand for Money

Week - 10
 Fisher’s Quantity Theory of Money
 Cash Balance Approach to the Quantity Theory
 Milton Friedman’s Quantity Theory of Money

Week - 11
 Keynesian Liquidity Preference Theory of Rate of Interest
 Money supply
 Credit creation

Week - 12
 Monetary Policy and its Objectives
 Methods of Credit Control
 The Monetary Transmission Mechanism

Books and references

1.    Arnold Roger A. Macro Economics. south western collage publishing 2001

2.    Diulio Eugene. Macro economics Schaum’s outline series Mc Graw hill 3rd edition.

3.    Dornbusch Rudigar, Fischer Stanley and Startz Richard Macro Economics. Mc Graw hill education (India) pvt ltd 2015

4.    Hall Robert E and Papell David H. Macroeconomics-economic Growth, Fluctuations and Policy. Viva Books private ltd 2010

5.    Jain T.R and Khanna O.P. Macro Economic  Management V.K  Publications Edition 2008-2009

6.    Kennedy M. Maria John. Macro Economic Theory .PH1 learning private ltd 2013

7.    Kumar Raj and Gupta Kuldip. Modern Macro Economics- Theory and Policy. UDH publishers Edition 2010

8.    Miller Roger LeRoy and Van Hoose David. Macro Economics- Theories, policies and international applications South-western Coleage publishing 2nd edition 

10.    Samuelson Paul A. Economics. Tata Mc Grew Hill Edition 2008

11.    Shapiro Edward. Macro Economics Analysis. Galgotia Publications 5th Edition 2003.

12.    Vaish M.C. Macro Economic Theory Vikas Publishing House Pvt Ltd Edition 2007

Instructor bio

Dr. Kamlesh Gakhar

Maharshi Dayanand University, Rohtak
Prof. Kamlesh Gakhar has served in the Institute of Management Studies and Research, Maharshi Dayanand University, Rohtak. She is Gold medallist in BA Hons (Economics) and MA (Economics) from Punjab University, Chandigarh. She did her Ph.D from MDU, Rohtak. She has teaching experience of 37 years including 27 years of PG experience and research.

Course certificate

30% for in Course Assessment & 70% of End-term Proctored Exam

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