Swayam Central

Principles of Macroeconomics-I

By Dr. Kamlesh Gakhar   |   Maharshi Dayanand University, Rohtak

After successfully completing this course, the students will be able to understand and comprehend:

1. Various macroeconomic issues                                     

2. The determinants of national income

3. The role of monetary and fiscal policies

4. The role of money in an economy

This course will be beneficial to students of economics.
commerce and for all students preparing for competitive examinations like IAS and IES etc

Learners enrolled: 949


Course Status : Upcoming
Course Type : Core
Duration : 15 weeks
Start Date : 01 Jul 2020
End Date : 30 Sep 2020
Exam Date : 15 Nov 2020
Enrollment Ends : 30 Sep 2020
Category :
  • Humanities and Social Sciences
  • Level : Undergraduate


    Week - 1
     Nature and Scope of Macroeconomics
     Importance and limitations of Macro Economics
     Basic concepts of Macro Economics

    Week - 2
     Business cycles
     Circular flow of National Income
     National Income and related concepts

    Week - 3
     Concepts of National Income
     Income and output methods of measurement of National Income
     Expenditure method of measurement of National Income
     Problems in measurement of National Income and its significance

    Week - 4
     Nominal GDP, Real GDP, Potential GDP, National Product and Economic Welfare.
     Aggregate Demand/Expenditure
     Aggregate Supply & Short Run Equilibrium   through AD & AS
     Consumption Function

    Week - 5
     Psychological Law of Consumption
     Various Determinants of Consumption
     Absolute Income Hypothesis and Relative Income Hypothesis
     Permanent Income Hypothesis

    Week - 6
     Saving and Investment Function
     Equilibrium GDP
     Autonomous Expenditure and Multiplier
     Features, Limitations, Leakages and significance of Multiplier

    Week - 7
     Fiscal Policy – Instruments, Objectives and Achievements
     Fiscal Policy in a Developing Economy, Limitations and Types of Fiscal Policy
     Impact of fiscal policy on demand side and supply side

    Week - 8
     Impact of Government Expenditure and Taxes on National Income
     Net Exports and Equilibrium of National Income
     Definition and Evolution of Money

    Week - 9
    Definition and Evolution of Money
    Functions of Money
    Demand for Money

    Week - 10
     Fisher’s Quantity Theory of Money
     Cash Balance Approach to the Quantity Theory
     Milton Friedman’s Quantity Theory of Money

    Week - 11
     Keynesian Liquidity Preference Theory of Rate of Interest
     Money supply
     Credit creation

    Week - 12
     Monetary Policy and its Objectives
     Methods of Credit Control
     The Monetary Transmission Mechanism


    1.    Arnold Roger A. Macro Economics. south western collage publishing 2001

    2.    Diulio Eugene. Macro economics Schaum’s outline series Mc Graw hill 3rd edition.

    3.    Dornbusch Rudigar, Fischer Stanley and Startz Richard Macro Economics. Mc Graw hill education (India) pvt ltd 2015

    4.    Hall Robert E and Papell David H. Macroeconomics-economic Growth, Fluctuations and Policy. Viva Books private ltd 2010

    5.    Jain T.R and Khanna O.P. Macro Economic  Management V.K  Publications Edition 2008-2009

    6.    Kennedy M. Maria John. Macro Economic Theory .PH1 learning private ltd 2013

    7.    Kumar Raj and Gupta Kuldip. Modern Macro Economics- Theory and Policy. UDH publishers Edition 2010

    8.    Miller Roger LeRoy and Van Hoose David. Macro Economics- Theories, policies and international applications South-western Coleage publishing 2nd edition 

    10.    Samuelson Paul A. Economics. Tata Mc Grew Hill Edition 2008

    11.    Shapiro Edward. Macro Economics Analysis. Galgotia Publications 5th Edition 2003.

    12.    Vaish M.C. Macro Economic Theory Vikas Publishing House Pvt Ltd Edition 2007


    Dr. Kamlesh Gakhar

    Maharshi Dayanand University, Rohtak
    Prof. Kamlesh Gakhar has served in the Institute of Management Studies and Research, Maharshi Dayanand University, Rohtak. She is Gold medallist in BA Hons (Economics) and MA (Economics) from Punjab University, Chandigarh. She did her Ph.D from MDU, Rohtak. She has teaching experience of 37 years including 27 years of PG experience and research.


    30% for in Course Assessment & 70% of End-term Proctored Exam