Macroeconomics (Paperback - 2012)

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.