Syllabus
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Course Code: M-BECOC- 002 Course Name: Macro Economic Analysis-I |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Theory of Output and Employment Determination Classical Approach – Output and Employment in Classical Theory; The Quantity Theory of Money and the Price Level; Classical Model without saving and investment; Classical Model with saving and investment; Keynesian Approach - Two Sector Model, Three Sector Model and Four Sector Model. Reading List • Mankiw, Gregory N. (2003). Macroeconomics. Worth Publishers. • Romer, David (2012). Advanced Macroeconomics. McGraw Hill Education. • Shapiro, E. (2006). Macroeconomic Analysis. Galgotia Publication, New Delhi. |
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| 2 | Theory of Output and Employment Determination The Extended Model under Fixed Price Level – The Goods Market and The Money Market; IS-LM framework and Equilibrium in Goods Market and Money Market; Effect of Changes in Government spending, Taxation and Aggregate Demand on General Equilibrium. Reading List • Mankiw, Gregory N. (2014). Principles of Macroeconomics. Cengage Learning. • Romer, David (2012). Advanced Macroeconomics. McGraw Hill Education. • Shapiro, E. (2006). Macroeconomic Analysis, Galgotia Publication, New Delhi. |
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| 3 | Theory of Output and Employment Determination The Extended Model under Variable Price Level – Derivation of Aggregate Demand Curve and Determination of equilibrium price and output levels; Wage-price flexibility and the Full Employment equilibrium; Interest rate effect and Pigou Effect; Monetary – Fiscal policy analysis in IS-LM Model. Reading List • Shapiro, E. (2006). Macroeconomic Analysis. Galgotia Publication, New Delhi • Langdana, F.K. (2013). Macroeconomic Policy: Demystifying Monetary and Fiscal Policy. Springer. • Mankiw, Gregory N. (2014). Principles of Macroeconomics. Cengage Learning. • Mishkin, F.S. (2016). The Economics of Money Banking and Financial Markets. Pearson. |
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| 4 | Theories of consumption The Absolute Income Hypothesis; The Relative Income Hypothesis; The Permanent Income Theory of Consumption; The Life cycle theory of consumption. Theories of Investment The Marginal Efficiency of Capital Approach; The accelerator theory; Profits Theory; Jorgenson’s Neoclassical Model; Adjustment costs and q theory. Reading List • Levacic, Rosalind & Rebmann, Alexander (2015). Macroeconomics. Macmillan, London. • Mankiw, Gregory N. (2014). Principles of Macroeconomics. Cengage Learning. • Romer, David (2012). Advanced Macroeconomics. McGraw Hill Education. • Shapiro, E. (2006). Macroeconomic Analysis, Galgotia Publication, New Delhi. |
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