Macroeconomics- 12
Chapter 1: Introduction
- Introduction to Macroeconomics
- Basic Concepts of Macroeconomics
- What is Factor Income and Transfer Income?
- Consumption Goods and Capital Goods
- Final Goods and Intermediate Goods
- What is Net Indirect Tax (NIT)?
- What is Net Factor Income from Abroad (NFIA)?
- Circular Flow of Income: Meaning, Phases, Types, and Significance
- Difference between Real Flow and Money Flow
- Circular Flow of Income
- Leakages and Injections in Circular flow of Income
Chapter 2: National Income Accounting
- National Income and Related Aggregates
- Domestic Income and Personal Income
- Private Income: Meaning, Types and Steps
- Personal, National, and Gross National Disposable Income
- Difference between Stock and Flow
- Circular Flow of Income and Methods of Calculating National Income
- Product or Value Added Method of Calculating National Income
- Expenditure Method of Calculating National Income
- Income Method of Calculating National Income
- Three Methods of calculating National Income: Value added Method, Expenditure Method and Income Method
- Treatment of Different Items in National Income
- Treatment of Different Items in Domestic Income
- National Income at Current Price and Constant Price
- Difference between Nominal GDP and Real GDP
- GDP and Welfare
- GDP Deflator
Chapter 3: Money and Banking
- What is Barter System and Double Coincidence of Wants?
- Evolution and Definitions of Money
- Significance of Money
- Functions of Money
- Contingent, Static and Dynamic Functions of Money
- Classification of Money
- Demand for Money
- Monetary System in India
- Money Supply – Features and Measures
- Functions of Commercial Bank: Primary Functions and Secondary Functions
- Commercial Banks: Advantages and Disadvantages
- Credit Creation
- Money Multiplier
- Functions of Central Bank
- Difference between Commercial Bank and Central Bank
Chapter 4: Determination of Income and Employment
- Components of Aggregate Demand
- Explain the Components of Aggregate Supply or National Income.
- What is Consumption Function (Propensity to Consume)?
- Types of Propensities to Consume
- Difference between APC and MPC
- What is Saving Function (Propensity to Save)?
- Types of Propensities to Save
- Difference between APS and MPS
- Relationship between different propensities (APC, MPC, APS and MPS)
- Explain the Derivation of Saving Curve from Consumption Curve.
- Investment Function: Induced Investment, Autonomous Investment and Determinants of Investment
- Difference between Induced Investment and Autonomous Investment
- Ex-Ante and Ex-Post Investment
- Full Employment and Involuntary Unemployment
- Determination of Equilibrium Level of Income: AD-AS Approach and S-I Approach
- Aggregate Demand-Aggregate Supply (AD-AS) Approach
- Saving-Investment (S-I) Approach
- How can we achieve equilibrium level?
- What is Investment Multiplier?
- Explain the working of Investment Multiplier.
- Short-run Fixed Price Analysis of Product Market
- What is Excess Demand?
- What is Deficient Demand?
- Difference between Excess Demand and Deficient Demand
- How to control Excess Demand?
- How to Control Deficient Demand?
- What are the different measures to control Excess Demand and Deficient Demand?
- Excess and Deficient Demand in Three-Sector Economy
- What is Fiscal Policy and how does it correct Excess Demand and Deficient Demand?
Chapter 5: Government Budget and the Economy
- Government Budget and the Economy: Characteristics, Objectives and Components of Budget
- Revenue Receipt and Revenue Expenditure: Meaning and Classification
- Difference between Direct and Indirect Tax
- Capital Receipt and Capital Expenditure: Meaning and Sources of Capital Receipts
- Difference between Revenue Receipt and Capital Receipt
- Difference between Revenue Expenditure and Capital Expenditure
- Measures of Government Deficit: Revenue Deficit, Fiscal Deficit and Primary Deficit
- Difference between Fiscal Deficit and Revenue Deficit
- Difference between Primary Deficit and Fiscal Deficit
- Plan and Non-plan Expenditure
- Developmental and Non-developmental Expenditure
Chapter 6: Open Economy Macroeconomics
- Foreign Exchange Rate: Meaning and Types
- Currency Depreciation and Currency Appreciation
- Types of Foreign Exchange Rate
- Demand and Supply for Foreign Exchange
- Determination of Exchange Rate
- Foreign Exchange Market: Functions and Types
- Fixed Exchange Rate System | Meaning, Methods, Merits and Demerits
- Flexible Exchange Rate System | Meaning, Merits and Demerits
- Managed Floating Exchange Rate System | Meaning, Objectives, Merits and Demerits
- Devaluation of Currency| Reasons, Effects, Example and Critical Evaluation
- Depreciation of Currency | Effects, Examples and Critical Evaluation
- Difference between Devaluation and Depreciation
- Balance of Payment and its Components: Capital and Current Account
- Difference between Current Account and Capital Account of BoP
- Difference between Balance of Payment and Balance of Trade
- Balance of Payments: Surplus and Deficit, Autonomous and Accommodating Transactions, Errors and Omissions
Important Formulas:
Macroeconomics
Macroeconomics is a part of economics that focuses on how general economies, markets, or different systems that operate on a large scale behave. Macroeconomics concentrates on phenomena like inflation, price levels, rate of economic growth, national income, gross domestic product (GDP) and changes in unemployment.