Dr Asad Ahmad,s Blog for Economics 11 and. 12

In this Blog you will find chapter wise videos, notes, sample questions and many more. Visit blog to get more information.

Part A: Introductory Macroeconomics

Unit 1: National Income and Related Aggregates

• What is Macroeconomics?
• Basic concepts in macroeconomics:
• consumption goods,
• capital goods,
• final goods,
• intermediate goods
• stocks and flows
• gross investment and depreciation.
• Circular flow of income (two sector model)
• Methods of calculating National Income
•  Value Added or Product method,
• Expenditure method, Income method.
• Aggregates related to National Income:
• Gross National Product (GNP),
• Net National Product (NNP),
• Gross Domestic Product (GDP)
• Net Domestic Product (NDP) – at market price, at factor cost
• Real and Nominal GDP.
• GDP and Welfare

Unit 2: Money and Banking

• Money – meaning and supply of money video on M1 measure of money supply by Biraj Chettri , KV Barkuhi; video on Money Part I (live stream for RO JBP) by Biraj chettri, KV Barkuhi; video on concept of money supply by Biraj Chettri, KV Barkuhi; video on money and its components by Biraj Chettri, KV Barkuhi; video on Barter System and its limitations by Biraj Chettri, KV Barkuhi; video on High Powered Money by Biraj Chettri, KV Barkuhi; video on M2,M3,M4 measures of money supply by Biraj Chettri, KV Barkuhi; Notes on Chapter Money by Biraj Chettri, KV Barkuhi; Assessment 1 based on chapter Money by Biraj Chettri, KV Barkuhi; Assessment 2 of Chapter Money by Biraj Chettri, KV Barkuhi; Assessment 3 of Money by Biraj Chettri, KV Barkuhi; Assessment 4 of Chapter Money by Biraj Chettri, KV Barkuhi
•  Currency held by the public and net demand deposits held by commercial banks.
• Money creation by the commercial banking system. Notes of Chapter Banking by Biraj Chettri, KV Barkuhi
  Central bank and its functions
• (example of the Reserve Bank of India):
• Bank of issue,
• Govt. Bank, Banker’s Bank,
• Control of Credit through
• Bank Rate,
• CRR,
• SLR,
• Repo Rate
• Reverse Repo Rate,
• Open Market Operations,
• Margin requirement.

Unit 3: Determination of Income and Employment

• Aggregate demand and its components.
• Propensity to consume and propensity to save (average and marginal)
• Short-run equilibrium output
• investment multiplier and its mechanism
• Meaning of full employment and involuntary unemployment.
• Problems of excess demand and deficient demand
• measures to correct them – changes in government spending
• taxes and money supply.

Unit 4: Government Budget and the Economy

• Government budget – meaning
• objectives and components.
• Classification of receipts – revenue receipts and capital receipts
• classification of expenditure –
• revenue expenditure
• capital expenditure.
• Measures of government deficit – revenue deficit
• fiscal deficit,
• primary deficit their meaning.

Unit 5: Balance of Payments

• Balance of payments account – meaning and components
• balance of payments deficit- meaning.
• Foreign exchange rate – meaning of fixed and flexible rates and managed floating.
• Determination of exchange rate in a free market.

Part B: Indian Economic Development

Unit 6: Development Experience (1947-90) and Economic Reforms since 1991:

• A brief introduction of the state of Indian economy on the eve of independence.
• Indian economic system and common goals of Five Year Plans.
• Main features,
• problems and policies of agriculture (institutional aspects and new agricultural strategy),
• industry (IPR 1956; SSI – role & importance) and foreign trade.
• Economic Reforms since 1991:
• Features and appraisals of liberalisation,
• globalisation and privatisation (LPG policy)
• Concepts of demonetization and GST

Unit 7: Current challenges facing Indian Economy

• Poverty- absolute and relative;
• Main programmes for poverty alleviation: A critical assessment;
• Human Capital Formation: How people become resource;
• Role of human capital in economic development;
• Growth of Education Sector in India
• Rural development: Key issues – credit and marketing – role of cooperatives;
• agricultural diversification; alternative farming – organic farming
• Employment: Growth and changes in work force participation rate in formal and informal sectors;
• problems and policies
• Infrastructure: Meaning and Types:
• Case Studies:
• Energy and Health: Problems and Policies- A critical assessment;
• Sustainable Economic Development: Meaning,
• Effects of Economic Development on Resources and Environment, including global warming

Unit 8: Development Experience of India

• A comparison with neighbours
• India and Pakistan
• India and China
• Issues: economic growth, population, sectoral development and other Human Development Indicators