The objective of this subject is to make the student familiar with the basic concepts of macro economics in prevailing national and global scenario. They will learn about macro-economic aspects like national income, consumption, investment and inflation and their impact on business organization.
1. National Income (16 hrs)
Concept and measurement of national income, classical theory of output and employment, Say’s law of market
2. Consumption (18 hrs)
Meaning, determinants and importance. Theory of Consumption: absolute income hypothesis, relative income hypothesis, permanent income hypothesis and life cycle hypothesis
3. Theory of Investment (16 hrs)
Types of Investment, determinants of investment, marginal efficiency of capital, interest rate determination
4. Inflation (14 hrs)
Meaning, types and theories of inflation, stabilization policies
The teacher may give following tutorial assignments to students:
1. Concept and measurement of National Income
2. Meaning, determinants, importance of consumption
3. Determinants of investment, marginal efficiency of capital, interest rate determination
4. Inflation, types and theories of inflation, stabilization policies
This subject will be mainly conducted through lectures, cases and examples. Small internet based projects on the state of Indian economy, various industrial sectors and potential for growth in various sectors.