Course Content:
Unit- I Consumption and Income Determination Consumption Function- Meaning and definitions , theories of consumption function: absolute, permanent, relative and life cycle hypothesis , investment : Autonomous Investment ,induced investment , Multiplier, accelerator
Unit- II Trade Cycle Meaning of trade cycle, types, characteristics of trade cycle ,phases of trade cycle, theories of trade cycle : sun spot theory, Hawtrey ,Hayek , innovation , Keynes, Hicks and Samuelson Theory of Trade Cycle
Unit- III
Inflation Role and Relative Effectiveness of Fiscal and Monetary Policy ,Inflation-Meaning ,Characteristics , Causes & Effect of Inflation , How to Check Inflation , Disinflation ,Reflation & Stagflation.
Unit-IV- Definition of Money and Unemployment Functions of Money, M1, M2,M3 , Determination of money supply, Money creation by commercial Banks, Money multiplier, Concept of unemployment, Structural and Frictional unemployment ,Cyclical, Involuntary and Voluntary unemployment
- Teacher: Sharad Dixit