PART - A
Unit 1: Introduction
1.1 Introduction to macroeconomics
1.2 Difference between micro economics and macro economics
1.3 Macroeconomic schools of thought- Classical and Keynesian economy
Unit 2: National Income
2.1 Circular flow of national income
2.2 Aggregates of national income
2.3 Methods of calculating national income
2.4 National income and economic welfare
Unit 3: Closed Economy in the Short Run: The Keynesian Model
3.1 Keynesian model of income determination
3.2 Keynes Psychological Law of Consumption
3.3 Consumption, saving and investment functions
3.4 Concepts of MPC, MPS, APC and APS
3.5 Equilibrium and the determination of Income (AD-AS and S-I approaches)
3.6 Simple investment multiplier: Concept and working
3.7 Paradox of thrift
PART – B
Unit 4: Macro Economic Equilibrium and Policy
4.1 Full Employment Equilibrium
4.2 Under and Over Employment Equilibrium
4.3 Inflationary and deflationary gaps
4.4 Role of monetary and fiscal policies
Unit 5: Aggregate Demand and Aggregate Supply Model
5.1 Aggregate demand and aggregate supply in the short run and long run
5.2 Shifts in aggregate demand and aggregate supply curves
5.3 Inflation: Meaning, types and causes
5.4 Unemployment: Meaning and types
5.5 Phillips curve
Unit 6: Product Market and Money Market: IS-LM Model
6.1 The IS curve: derivation and interpretations for a two-sector model
6.2 The LM curve: derivation and interpretations for a two-sector model
6.3 Simultaneous equilibrium
6.4 Monetary and fiscal policy in the IS-LM framework
6.5 Numerical Applications (two sector model)
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