• ISBN13: 9788126916788
• Binding: Paperback
• Subject: Economics
• Publisher: Atlantic Publishers & Distributors (P) Ltd
• Publisher Imprint: Atlantic
• Publication Date: July 2, 2012
• Pages: 182
• Original Price: INR 175.0
• Language: English
• Edition: N/A
• Item Weight: 90 grams
• BISAC Subject(s): Economics / General

Macroeconomics is a branch of economics dealing with the performance, structure, behaviour, and decision-making of the entire economy. It studies the aggregated indicators such as GDP, price indices, unemployment rates, etc. to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, inflation, savings, investment, international trade, and attempt to find the determinants of long-term economic growth. The book has been designed as per the syllabi of Karnatak University, Dharwad and Rani Chennamma University, Belgaum, for BA Fifth Semester in the subject of economics. The subject matter has been divided into five chapters. First chapter provides the meaning, definitions, scope, etc. of macroeconomics and meaning, elements and concepts of national income. Second chapter presents a detailed discussion of classical theory of income and employment. Third chapter deals with Keynesian economics, covering Keynes’ theory of income and employment, consumption function, investment function and investment multiplier theory. Fourth chapter throws light on acceleration principle, interaction between multiplier and accelerator, and saving and investment controversy. Fifth chapter explains in detail the business cycles, discussing their features and phases as well as major theories. A new approach has been used to make the learning of economics easy. It is a student-friendly and teacher-friendly book. Model questions have been given at the end of each chapter to help the students. Since the topics of macroeconomics are the same everywhere, the book will not only cater to the needs of students of Karnatak University and Rani Chennamma University, but also prove useful for the students and teachers of economics of other universities.

Arjun Y. Pangannavar is Ph.D. in economics from Karnatak University, Dharwad. Presently, he is an Associate Professor and Head of Department of Studies in Economics, JSS Arts, Science and Commerce College Gokak, Distt. Belgaum, Karnataka. He has 32 years experience of teaching economics to UG students. There are several books on economics, Kannada-prose and poetry and English-poetry to his credit. His articles and research papers on economic and social issues have been published in various national and international journals.

• Preface
• 1. Macroeconomics and National Income
• 1.1 Macroeconomics
• 1.1.1 Meaning of Macroeconomics
• 1.1.2 Definitions of Macroeconomics
• 1.1.3 Scope of Macroeconomics
• 1.1.4 Types of Macroeconomics
• 1.1.5 Uses or Importance of Macroeconomics
• 1.1.6 Limitations or Criticisms of Macro-economics
• 1.2 National Income
• 1.2.1 Meaning and Definitions
• 1.2.2 Elements of National Income
• 1.2.3 Concepts of National Income
• 1.2.4 Methods of Estimating National Income
• 1.2.5 Difficulties in the Estimation National Income
• 1.2.6 Circular Flow of Income
• 1.2.7 Importance of the Study of National Income
• 1.3 Model Questions
• 2. Classical Theory on Income and Employment
• 2.1 Employment
• 2.1.1 Meaning of Employment
• 2.1.2 Concepts of Employment
• 2.1.3 Types of Unemployment
• 2.1.4 Types of Involuntary Unemployment
• 2.2 Classical Theory of Employment
• 2.2.1 Objectives
• 2.2.2 Statement of the Theory
• 2.2.3 Assumptions
• 2.2.4 A.C. Pigou’s Modification
• 2.2.5 Illustration of the Classical Theory
• 2.3 Criticisms
• 2.4 Say’s Law of Market
• 2.4.1 Implications
• 2.4.2 Criticisms
• 2.5 Model Questions
• 3. Keynesian Economics
• 3.1 Keynes’ Theory of Income and Employment–3.1.1 Relation between Output, Income and Employment
• 3.1.2 Effective Demand
• 3.1.3 Aggregate Supply Function
• 3.1.4 Aggregate Demand Function
• 3.1.5 Determination of Effective Demand
• 3.1.6 Determination of Income and Employment
• 3.1.7 Conditions of ‘Full Employment’
• 3.1.8 Summary
• 3.1.9 Working of the Theory
• 3.1.10 Critical Appreciation
• 3.1.11 Superiorities of the Theory
• 3.2 Consumption Function–3.2.1 Classical View
• 3.2.2 Keynes’ View
• 3.2.3 Keynes’ Psychological Law of Consumption
• 3.2.4 Functional Relation between Income and Consumption
• 3.2.5 Determinants of Consumption Function
• 3.2.6 Importance of Consumption Function
• 3.3 Investment Function–3.3.1 Meaning
• 3.3.2 Types of Investment
• 3.3.3 Keynes’ Investment Function
• 3.3.4 Determinants of Investment
• 3.3.5 Relation between Investment, Rate of Interest and MEC
• 3.3.6 Factors Influencing the Marginal Efficiency of Capital
• 3.3.7 MEC and Expectations
• 3.4 Investment Multiplier Theory
• 3.4.1 The Concept of Multiplier
• 3.4.2 Meaning and Definition
• 3.4.3 Relation between MPC and k
• 3.4.4 Assumptions
• 3.4.5 Working of Investment Multiplier
• 3.4.6 Investment Multiplier and Leakages
• 3.4.7 Limitations of Multiplier (k)
• 3.4.8 Criticisms of Investment Multiplier
• 3.4.9 Importance or Significance of Investment Multiplier
• 3.5 Model Questions
• 4. Acceleration Principle
• 4.1 Acceleration Principle
• 4.1.1 Meaning and Definitions
• 4.1.2 Assumptions
• 4.1.3 Working of Acceleration Principle
• 4.1.4 Limitations and Criticisms
• 4.1.5 Significance of Accelerator
• 4.1.6 Comparison between Multiplier and Accelerator
• 4.2 Interaction between Multiplier (k) and Accelerator (v): Super Multiplier
• 4.2.1 Meaning
• 4.2.2 Mathematical Illustration of Hicks’ ‘Super Multiplier’
• 4.2.3 Working of Super Multiplier
• 4.2.4 Importance of Interaction between k and v
• 4.2.5 Limitations of Interaction
• 4.3 Savings and Investment Controversy
• 4.4 Model Questions
• 5. Business Cycle
• 5.1 Business Cycles
• 5.1.1 Meaning and Definitions
• 5.1.2 Features
• 5.1.3 Phases of Business Cycles
• 5.1.4 Types of Business Cycles
• 5.2 Business Cycles Theories
• 5.2.1 Hawtrey’s Pure Monetary Theory
• 5.2.2 Keynes’ Trade Cycle Theory
• 5.2.3 J.A. Schumpeter’s Innovation Theory
• 5.3 Measures to Control Business Cycles
• 5.4 Model Questions–Glossary–Bibliography