The book has been revised in the light of UGC model Curriculum for M.A., M.Com., MBA, and B.A. (Hons.) Economics and B.Com. (Hons.) classes of Indian Universities.
Table of Content :
PART-I: MACROECONOMICS ? Nature and Scope of Macroeconomics ? Circular Flow of Income and National Income Accounting ? The Classical Full-Employment Model ? Keynes's Theory of Employment: An Outline ? Determination of National Income: Keynes's Simple Two-Sector Model ? Determination of National Income with Government: Three-Sector Models ? Concepts of Inflationary and Deflationary Gaps ? Consumption Function ? Post-Keynesian Theories of Consumption ? Investment Demand ? Theory of Multiplier ? Aggregate Demand - Aggregate Supply Model (With Price Flexibility) ? Unemployment, Full Employment and Wage-Price Flexibility
PART-II: POST-KEYNESIAN DEVELOPMENTS IN MACROECONOMICS ? IS-LM Curves Model ? Inflation-Unemployment Trade-off: Phillips Curve and Rational Expectations Theory ? Stagflation and Supply-Side Economics ? The New Classical Economics: Rational Expectations Model ? The New Keynesian Economics
PART-III: MONETARY DEMAND AND SUPPLY ? Nature and Functions of Money ? Credit and Commercial Banking ? Central Banking ? Objectives and Instruments of Monetary Policy ? Supply of Money and Its Determinants ? Demand for Money and Keynes's Liquidity Preference Theory of Interest ? Post-Keynesian Theories of Demand for Money
PART-IV: MONEY, PRICES AND INFLATION ? Money and Prices: Quantity Theory of Money ? Keynes's Monetary Theory: Money, Income and Prices ? Monetarism: Friedman's Modern Quantity Theory of Money ? Monetarism and Keynesianism Compared ? Inflation and Hyper-Inflation: Nature, Causes, Social Costs and Effects,
PART-V: BUSINESS CYCLES AND MACROECONOMIC POLICY ? Analysis of Business Cycles ? Kaldor and Goodwin's Models of Business Cycles ? Monetarist and New Classical (Rational Expectations) Theories of Business Cycles ? Real Business Cycle Theory ? Economic Stabilisation: Fiscal Policy ? Economic Stabilisation: Monetary Policy
PART-VI: GOVERNMENT AND THE MACROECONOMY: GOVERNMENT'S BUDGET CONSTRAINT AND FISCAL POLICY ? Public Finance: Public Expenditure ? Financing of Government Expenditure: Taxation ? Role of Fiscal Policy and Taxation in Resource Mobilisation for Economic Growth ? Government Borrowing or Debt-Financing of Budget Deficit ? Government Budget Constraint: Money Financing of Budget Deficit
PART-VII: OPEN ECONOMY MACROECONOMICS ? Balance of Payments ? The Monetary Approach to the Balance of Payments ? Foreign Exchange Rate ? Determination of National Income in an Open Economy and Foreign Trade Multiplier ? Free Trade Versus Protection ? International Linkages and Mundell-Fleming Model ? Globalisation, Commercial Policy and WTO
PART-VIII: THEORIES OF ECONOMIC GROWTH ? Economic Growth and its Determinants ? Harrod-Domar Model of Growth ? Neoclassical Theory of Growth ? New Theory of Growth (Endogenous Growth Model) ? Theory of Development with Surplus Labour: Lewis Model ? Limitations and Relevance of Keynesian Economics to Developing Countries ? Nature of Unemployment in Labour Surplus Developing Countries ? Development Strategies for Labour-Surplus Developing Countries ? Sen Vs Bhagwati: Debate on Growth, Poverty and Distribution
