Semester Courses/Calcutta University BA (Hons) Economics/DSCC2
DSCC2CU · Semester 2
Macroeconomics I
CU Semester 2 — National income accounting, Simple Keynesian Model, Classical macroeconomics, and inflation.
Course Syllabus
- Macroeconomic data: national income accounting, circular flow (three-sector)
- Concepts of GNP, GDP, NNP, NDP at market price and factor cost; real vs. nominal; implicit deflator
- Measurement of national income; double counting problem
- Role of government; corporate income, personal income, and disposable income
- Saving–investment gap; relation with budget deficit and trade surplus
- Consumption function; Keynesian saving function; concept of effective demand
- Equilibrium income in Simple Keynesian Model (SKM); Simple Keynesian Multiplier; paradox of thrift
- Balanced Budget Multiplier
- Investment function: determinants; marginal efficiency of capital (MEC) and investment (MEI)
- Classical macroeconomics: Say's Law and Quantity Theory of Money
- Loanable funds theory; classical theory of income and employment determination
- Full employment; wage-price flexibility; neutrality of money; classical dichotomy
- Inflation: types, inflationary gap, demand-pull vs. cost-push
- Anti-inflationary policy
Reference Books
- Dornbusch, R., Fischer, S., & Startz, R. Macroeconomics, 11th Edition. McGraw-Hill.
- Mankiw, N. G. Principles of Macroeconomics, 6th Edition. South-Western Cengage.
- Mankiw, N. G. Macroeconomics. Worth Publishers.
Who Will Teach You
M
Mahima Ma'am
SRCC, DSE, NET Qualified
I
Insiya Ma'am
ISI, MSQe
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