Minor-II Paper-II (Economics): Macro Economics

Unit 1 — National Income Analysis

1.1 Meaning of National Income; · 1.2 Concepts of National Income. · 1.3 Methods of Measurement of National Income. · 1.4 Difficulties in measurement of National Income. · 1.5 Difference Between National Income and Personal income.

• National Income and its measurement (GDP, NDP, GNP, NNP, PCI, GVA, Green GDP)

Unit 2 — Inflation and Deflation:

2.1 Meaning-Causes and Effects of Inflation. · 2.2 Demand Pull and Cost Push Inflation; · 2.3 Deflation-Meaning; · 2.4 Measures to control Inflation and Deflation; · 2.5 Stagflation.

Unit 3 — Business Cycle:

3.1 Meaning- Types –Characteristics of Business Cycles · 3.2 Phases of a Business Cycle. · 3.3 Control of Business Cycle.

• Trade Cycles-Phases

Unit 4 — Macro Economic Policy:

4.1 Monetary Policy- Objectives and Instruments of Monetary Policy- Expansionary and Restrictive Monetary policy · 4.2 Role of Monetary Policy in a Developing Country · 4.3 Fiscal Policy- Objectives and Instruments of Fiscal Policy · 4.4 Role of Fiscal Policy in a Developing Country

• Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)

Unit 5 — International Trade and Balance of Payment:

5.1 Free Trade vs. Protection-meaning of Free Trade-Case for and against Free trade- Protection-Meaning-Case for and against Protection. · 5.2 Balance of Payments-Meaning-Disequilibrium in Balance of Payments-Causes- Measures to Correct Deficit in Balance of Payments. · 5.3 Balance of trade- Meaning. · 5.4 Foreign Exchange Rate-Meaning.

• Balance of Payments — Structure and Disequilibrium