Economics Second Semester Syllabus

Unit-1: Introduction to Macro economics 

• Macro Economics: Meaning and Definitions
• Macro Economics: Nature
• Macro Economics: Types
• Macro Economics: Subject Matter and Central Issues 
• Macro Economics: Scope and Importance
• Macro Economics: Limitations 
• Basic Concepts: Stock, Flow Equilibrium, Short and Long Term
• Concepts of National Income: (GNP, NNP, GDP, NDP, NI, PI, DI)
• Maintenance of National Income
• Importance of National Income Analysis
• Methods of Measuring National Income
• Difficulties in Measuring National Income (Simple Calculation) 

Unit-2: Classical Theory of Employment

• Say's Laws of Markets
• Wage-price Flexibility
• Criticisms of the Classical Theory

Unit-3: Keynesian Theory of Employment

• Concept of Effective Demand and its Determinants 
• Equilibrium Level of Income and Employment
• Conception Function APC, MPC
• Factors Effecting the Conception Function 
• Investment Function 
• Marginal Efficiency of Capital
• Factors Effecting Investment Function
• Multiplier Effect
• Criticism of Keynesian Theory of Employment

Unit-4: New Classical Macroeconomics

• New Classical Macroeconomics
• Supply Side Economics and its Theoretical Proposition  
• Rational Expectation and Policy Calculation

Unit-5: Macro Economic Policy

• Business Cycles and Role of Macro Economic Policy
• Business Cycles: (Meaning and Types)
• Phases of Business Cycles
• Meaning of Inflation
• Types of Inflation
• Causes of Inflation
• Control of Inflation
• Effects of Inflation
• Inflationary Gap
• Meaning of Deflation
• Effects of Deflation
• Monetary Policy
• Fiscal Policy