Macroeconomics : Theory & Policy

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This book provides a comprehensive discussion on macroeconomics. Meant for undergraduate and postgraduate students, its treatment and presentation of the thoughts and theories of the subject makes it easily comprehensible. The importance of the macroeconomics as a subject of study has increased immensely over the past two decades due to the persistence of macroeconomic problems of achieving and maintaining and reasonably high growth rate, preventing growth of unemployment and promotion of employment, restricting inflation to a desirable rate, and stabilizing the financial market. The recent global recession and the problems that it created for both developed and developing economics proves the point. Key Features Inclusion of three new chapters- Macroeconomic Issues, Concepts and Model Building Theories of Economic Growth Theories of Business Cycle and Global Recession Comprehensive new sections on- Use of Macroeconomics to Business Management Classical theory of demand for labour Consumption under Uncertainty: Robert Hall?s Random Theory Rental Cost of Capital and Investment Discussion on ?India?s Monetary Policy and Indias Fiscal Policy updated with recent monetary and fiscal data. Table Of contents Part 1: Introduction 1. Introduction to Macroeconomics 2. Macroeconomic Issues, Concepts and Model Building 3. The Circular Flow Models of Economy 4. Measurement of National Income Part 2: Product Market Analysis 5. The Classical Theory of Output and Employment 6. Keynesian Theory of Income Determination 7. Income Determination in a Closed Economy Mode 8. Income Determination in Open Economy Model Part 3: Theories of Consumption and Investment 9. Theories of Aggregate Consumption 10. Theory of Investment and Capital Accumulation Part 4: Money Market Analysis 11. Money: Definition, Kinds and Functions 12. The Supply of Money 13. The Classical Theory of Money and Interest 14. The Keynesian Theory of Money and Interest 15. The Post-Keynesian Theories of Demand for money Part 5: Integration of Product And Money Market Equilibrium 16. The Is-Lm Model in Two-Sector Economy 17. The Is-Lm Model with the Government Sector 18. The Is-Lm Model with Foreign Sector 19. Determination Of Output, Prices And Employment 20. Post-Keynesian Macroeconomics Part 6: Economic Growth and Business Cycles 21. Theories of Economic Growth 22. Business Cycle Theories and Global Recession Part 7: Inflation and Unemployment 23. Inflation: Meaning, Measure and Effects 24. Theories of Inflation and Control Measures 25. Inflation and UnemploymentPart 8: International Aspects of Macroeconomics 26. International Monetary Aspect: The Foreign Exchange Rate 27. Balance Of Payments: Meaning and Assessment 28. Balance Of Payments: Disequilibrium and Adjustments Part 9: Macroeconomic Policies: Monetary And Fiscal Policies 29. Macroeconomic Policy: Meaning, Objectives and Formulation 30. Monetary Policy 31. Fiscal Policy