B.Sc. (Honours) in Economics Integrated ProgrammeMaharshi Dayanand University
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Unit - I
Money : Concept and functions of money; Supply of money;
theories of demand for money; Classical Cambridge, Keynes
and Friedman. Theories of rate of interest : Classical, Loan
able and Liquid preference.
Keynes Vs. Classicals with special reference to wage price
flexibility and full employment. Real Balance Effect; Keynes
and under-developed economics.
Unit - II
Trade Cycles : Features, Kaynes' View on trade Cycle,
Schumpeter, Kaldor, Samuelson Hicks model, control of trade
Unit - III
Economic Growth : Meaning and measurement, Harrod and
Domar model, Neo-classical growth models Solow and Meade,
economic growth and technical progress.
Unit - IV
Inflation : Causes, consequences and cures. Inflation -
unemployment trade off. Natural rate of unemployment.
Macroeconomic policy : Monetary policy - instruments,
objectives and effectiveness in recession & boom. Fiscal Policy
- Instruments and full employment; budget surplus; problems
of stbilization policy.