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Introductory Macro Economics

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introductory Macro Economics



Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates                                                                                               28 Periods
What is Macroeconomics?
Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.
Circular flow of income (two sector model); Methods of calculating National Income – Value Added or Product method, Expenditure method, Income method.
Aggregates related to National Income:
Gross National Product (GNP), Net National Product (NNP), Gross and Net Domestic Product (GDP and NDP) – at market price, at factor cost; Real and Nominal GDP.

GDP and Welfare
Unit 2: Money and Banking                                                                                                                                         15 Periods
Money – meaning and supply of money – Currency held by the public and net demand deposits held by commercial banks.
Money creation by the commercial banking system.
Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker’s Bank, Control of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit 3: Determination of Income and Employment                                                                                                 27 Periods
Aggregate demand and its components.
Propensity to consume and propensity to save (average and marginal). Short-run equilibrium output; investment multiplier and its mechanism. Meaning of full employment and involuntary unemployment.
Problems of excess demand and deficient demand; measures to correct them – changes in government spending, taxes and money supply.

Unit 4: Government Budget and the Economy                                                                    15 Periods
Government budget – meaning, objectives and components.
Classification of receipts – revenue receipts and capital receipts; classification of expenditure – revenue expenditure and capital expenditure.
Measures of government deficit – revenue deficit, fiscal deficit, primary deficit their meaning.

Unit 5: Balance of Payments                                                                                                                                  15 Periods
Balance of payments account – meaning and components; balance of payments deficit- meaning.
Foreign exchange rate – meaning of fixed and flexible rates and managed floating. Determination of exchange rate in a free market.

Name of Chapters:
Ch-1 Introduction
(a) study material (b) Test papers (c) Video
Ch-2 Basic concepts of macro- economics and circular how of income
(a) study material (b) Test papers (c) Video
Ch-3 Important Terms & Aggregates of national income
(a) study material (b) Test papers (c) Video
Ch-4 Measurement of National Income
(a) study material (b) Test papers (c) Video
Ch-5 Money and Supply of money
(a) study material (b) Test papers (c) Video
Ch-6 Commercial Bank and Central Bank
(a) study material (b) Test papers (c) Video
Ch-7 Aggregate Demand and Related Concepts
(a) study material (b) Test papers (c) Video
Ch -8 Determination of Equilibrium Level of Income, Output and the Multiplier
(a) study material (b) Test papers (c) Video
Ch-9 Problem of Deficient Demand and Excess Demand.
(a) study material (b) Test papers (c) Video
Ch-10 Government Budget
(a) study material (b) Test papers (c) Video
Ch-11 Balance of Payments
(a) study material (b) Test papers (c) Video
Ch-12 Foreign Exchange
(a) study material (b) Test papers (c) Video



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  • Language: English
  • Duration: 10 days
  • Lectures: 2
  • 3 Downloadable Resources
  • 8 Сoding Exercises
  • Certificate of Completion
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