Principles of Macroeconomics I

By Dr. Kamlesh Gakhar | Maharshi Dayanand University, Rohtak

Learners enrolled: 689

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

Summary

Course Status :	Ongoing
Course Type :	Core
Language for course content :	English
Duration :	15 weeks
Category :	Humanities and Social Sciences
Credit Points :	4
Level :	Undergraduate
Start Date :	15 Jul 2024
End Date :	31 Oct 2024
Enrollment Ends :	31 Aug 2024
Exam Date :	14 Dec 2024 IST
Exam Shift: :	Shift-1

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week - 1

Nature and Scope of Macroeconomics

Importance and limitations of Macro Economics

Basic concepts of Macro Economics

Business cycles

Week - 2

Circular flow of National Income

National Income and related concepts
Concepts of National Income

Week - 3

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

Week - 5
Consumption Function

Psychological Law of Consumption

Various Determinants of Consumption

Week - 6

Absolute Income Hypothesis and Relative Income Hypothesis

Permanent Income Hypothesis
Saving and Investment Function

Week - 7

Equilibrium GDP

Autonomous Expenditure and Multiplier

Features, Limitations, Leakages and significance of Multiplier

Week - 8

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 - 9

Impact of Government Expenditure and Taxes on National Income

Net Exports and Equilibrium of National Income

Definition and Evolution of Money

Week - 10

Functions of Money
Types/Kinds of Money

Demand for Money

Week - 11

Fisher’s Quantity Theory of Money

Cash Balance Approach to the Quantity Theory

Milton Friedman’s Quantity Theory of Money

Week - 12

Keynesian Liquidity Preference Theory of Rate of Interest

Money supply

Credit creation

Week - 13

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.