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SYLLABUS
                                                   Macro Economics



          Objectives: To understand the concept of Macro Economics and its usefulness in the current economic scenario, for a student to
          comprehend its application in the real-world scenario.
            Sr. No.                                         Description
              1.    Introduction to Macro Economics, its importance and scope. National Income: Concepts, Methods and Problems
                    in measuring National Income, Circular Flow of Income in 2, 3 and 4 sector model.
              2.    Theories of Income, Output and Employment Determination: Classical and Keynesian; Principle of effective
                    demand. Classical vs Keynesian. Say’s Law.
              3.    Consumption function: Concept, Propensity to consume, factors affecting propensity to consume.
              4.    Investment: Meaning and factors affecting investment decisions.
              5.    Concept of Multiplier, Types of multiplier and limitation, Static and Dynamic Multiplier.
              6.    Money-Meaning and Functions, Measures of Money, Factors affecting Demand for Money
              7.    General Equilibrium of economy: IS–LM curve analysis.
              8.    Inflation: Meaning, Theories – Demand Pull and Cost Push, Control of inflation, Phillips Curve.
              9.    Balance of Payments: Introduction and its types, Factor responsible for imbalance in BOP and the India’s
                    Balance of Payments, Automatic adjustment in BOP
              10.   Macro Economic policies; Monetary Policy its instruments, transmission and effectiveness, Fiscal Policy its
                    instruments, transmission and effectiveness.
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