B.A. Economics
3rd Semester Syllabus
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MJC-3 : Introductory Macroeconomics
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Unit 1: Introduction to Macroeconomics and National Income Accounting
◦The Origin and Roots of Macroeconomics
◦Need and relevance of Macroeconomics
◦Scope of the Subject
◦Macroeconomic concerns and issues
◦The Role of Government in Macroeconomics
◦The components of Macroeconomics
◦Methodology of macroeconomics
◦Circular flow of Income
◦The Concepts of National income: GDP, GNP, NNP, NNP at factor cost, Personal income, private income and personal disposable income, approaches to calculating GDP, Nominal and real GDP, Green GDP
Unit 2: Money and Banking
◦Functions of money
◦Quantity theory of money
◦Central banking: history
◦Objectives
◦Functions
◦Relevance
◦Performance
◦Tools of monetary policy
◦Concept and history of commercial banking
◦Functions
◦Distribution of assets and credit creation
Unit 3: Classical and Keynesian Systems
◦Classical and Keynesian systems
◦Simple classical system of output and employment
◦Keynesian model of income determination
◦Concept of multipliers
◦Relevance and limitations of Keynesian economics to developing economy
Reference Books:
- Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.
- N. Gregory Mankiw, Macroeconomics, Worth Publishers, 7th edition, 2010.
- Olivier Blanchard, Macroeconomics, Pearson Education, Inc., 5th edition, 2009.
- Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005.
- Andrew B. Abel and Ben S. Bernanke, Macroeconomics, Pearson Education, Inc., 7th edition, 2011.