Semester Courses/Jadavpur University BA Economics Semester/EC-302
EC-302JU · Semester 3
Macroeconomics — Semester 3
JU Semester 3 — Classical system, Keynesian model, IS-LM framework, aggregate demand-supply, and macroeconomic policy.
Course Syllabus
- Classical system: Say's Law, Quantity Theory, classical dichotomy, Walras' Law, neutrality of money
- Simple Keynesian System: multipliers, equilibrium in closed and open economy, stability analysis
- Autonomous expenditure, balanced budget, net exports, and paradox of thrift
- Realization problem: Kaleckian macro model
- IS-LM Model: equilibrium, stability, comparative statics
- Fiscal and monetary policy effects; real balance effects
- Derivation of Aggregate Demand (AD) under price flexibility
- Derivation of Aggregate Supply (AS) with and without wage rigidity
- Unemployment: causes and possible solutions; wage cut policy and real balance effect
- Keynesian vs. Classical system
Reference Books
- Dornbusch, R., Fischer, S., & Startz, R. Macroeconomics. McGraw-Hill.
- Blanchard, O. Macroeconomics. Pearson.
Who Will Teach You
M
Mahima Ma'am
SRCC, DSE, NET Qualified
I
Insiya Ma'am
ISI, MSQe
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