This Subject Includes

• Course No: HS 125
• Course:
• Semester: IV
• Title: Macroeconomics
• Stream: Economics

• Macroeconomics: concepts and aggregates, national income accounting, circular flow of income and production in two-three-four sector economy; Consumption and investment spending: IS-LM model, Classical and Keynesian models; Stabilization policies: inflation and unemployment, wage-unemployment relationship, rational expectations; Monetary and fiscal policy: role of multiplier, balance of payments, role of central bank; Business cycles: recession, depression, hyperinflation and deficits. 

  Texts:

  1. R. Dornbusch, S. Fischer, and R. Startz, Macroeconomics, Tata McGraw Hill, 9th edition, 2006

  2. E. Shapiro, Macroeconomic Analysis, Galgotia Publications (P) Limited, 5th edition, 2006

  References:

  1. R. J. Barro, Macroeconomics, MIT Press, 5th edition, 1997

  2. R. T. Kaufman and N. G. Mankiw, Macroeconomics, Worth Publishers, 6th edition, 2006