Sr. No. Modules / Units 1 Overview of Macroeconomics Meaning, Scope and Importance. Macroeconomics: and its Importance- Circular flow of aggregate income and expenditure closed and open economy models Meaning and Importance of The Measurement of National Product: National Income Accounting- conventional and Green GNP and NNP concepts -National Income and Economic Welfare. Features and Phases Trade Cycles: - Features, Implications Classical Macro economics : Say’s law of Markets and Criticism 2 Money, prices and Inflation Determinants of Money Supply - Factors influencing Money Supply: Velocity of Circulation of Money Classical and Keynesian approaches and Demand for Money : Keynes’ liquidity preference theory of interest - of Demand Friedman’s restatement for money : Quantity theory of money - Money and prices Fisher’s equation of exchange - Cambridge cash balance approach Demand Pull Inflation and Cost Push Inflation - Effects of Inflation : Inflation- Nature of inflation in a developing economy - policy measures to curb inflation- monetary policy and inflation targeting 3 Introduction to Public Finance Meaning and Scope of Public finance. : allocation function, distribution function & Major fiscal functions stabilization function Dalton and Musgrave Views - Principle of Maximum Social Advantage: the Principle in Practice, Limitations. Relation between Efficiency, Markets and Governments The concept of Public Goods and the role of Government 4 Public revenue, Public Expenditure and Debt tax and non-tax revenues Sources of Public Revenue : Objectives of taxation - Canons of taxation - Types of taxes : direct and indirect - Tax Base and Rates of taxation : proportional, progressive and regressive taxation Impact and incidence of Shifting of tax burden: taxation - Processes- factors influencing incidence of taxation on Income and Wealth, Consumption, Economic Effects of taxation: Savings, Investments and Production. and their Redistributive and Anti – Inflationary nature of taxation implications Canons - classification - economic Public Expenditure: effects of public spending - on production, consumption, distribution, employment and stabilization - Theories of Public Expenditure: Wagner’s Hypothesis and Wiseman Peacock Hypothesis - Causes for Public Expenditure Growth. Social security contributions- Low Significance of Public Expenditure: Income Support and Social Insurance Programmes. Classification - Burden of Debt Finance : Internal and Public Debt :
Sr. No. Modules / Units 1 Overview of Macroeconomics Macroeconomics: Meaning, Scope and Importance. Circular flow of aggregate income and expenditure and its Importance- closed and open economy models The Measurement of National Product: Meaning and Importance of National Income Accounting- conventional and Green GNP and NNP concepts -National Income and Economic Welfare. Trade Cycles: Features and Phases Classical Macro economics : Say’s law of Markets - Features, Implications and Criticism 2 Money, prices and Inflation Money Supply: Determinants of Money Supply - Factors influencing Velocity of Circulation of Money Demand for Money : Classical and Keynesian approaches and Keynes’ liquidity preference theory of interest - Friedman’s restatement of Demand for money Money and prices : Quantity theory of money - Fisher’s equation of exchange - Cambridge cash balance approach Inflation : Demand Pull Inflation and Cost Push Inflation - Effects of Inflation- Nature of inflation in a developing economy - policy measures to curb inflation- monetary policy and inflation targeting 3 Introduction to Public Finance Meaning and Scope of Public finance. Major fiscal functions : allocation function, distribution function & stabilization function Principle of Maximum Social Advantage: Dalton and Musgrave Views - the Principle in Practice, Limitations. Relation between Efficiency, Markets and Governments The concept of Public Goods and the role of Government 4 Public revenue, Public Expenditure and Debt Sources of Public Revenue : tax and non-tax revenues Objectives of taxation - Canons of taxation - Types of taxes : direct and indirect - Tax Base and Rates of taxation : proportional, progressive and regressive taxation Shifting of tax burden: Impact and incidence of taxation - Processes- factors influencing incidence of taxation Economic Effects of taxation: on Income and Wealth, Consumption, Savings, Investments and Production. Redistributive and Anti – Inflationary nature of taxation and their implications Public Expenditure: Canons - classification - economic effects of public spending - on production, consumption, distribution, employment and stabilization - Theories of Public Expenditure: Wagner’s Hypothesis and Wiseman Peacock Hypothesis - Causes for Public Expenditure Growth. Significance of Public Expenditure: Social security contributions- Low Income Support and Social Insurance Programmes. Public Debt : Classification - Burden of Debt Finance : Internal and
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