This textbook acquaints the students with the latest trends and tendencies in macroeconomics analysis and policy. It keeps in view the macroeconomic environment of the developing economies, especially the emerging Indian economy, while analysing and discussing various theories and policies of macroeconomics. Not confining itself to mere Keynesian macroeconomics, it critically examines the post-Keynesian developments in macroeconomics as well. , Exclusive coverage on critical examination of Harrod-Domar Model of Growth, Neoclassical Theory of Growth, New Growth Theory and Lewis Model of Development with Surplus Labour , Inclusion of a chapter on International Economic Linkages and Mundell-Fleming Model to enhance student?s understanding of the current impact of globalisation on the Indian economy , Coverage on Nature of Unemployment and Development Strategies for Labour-Surplus Developing Countries , Close to 300 figures for better understanding of the concepts as well as 450+ chapter-end questions for practice PART I: MACROECONOMICS 1. Nature and Scope of Macroeconomics 2. Circular Flow of Income and National Income Accounting 3. The Classical Full-Employment Model 4. Keynes?s Theory of Employment: An Outline 5. Determination of National Income: Keynes?s Simple Two-Sector Model 5A. Determination of National Income With Government : Three-Sector Models 5A. Concepts of Inflationary and Deflationary Gaps 6. Consumption Function 7. Post-Keynesian Theories of Consumption 8. Investment Demand 9. Theory of Multiplier 10. Aggregate Demand - Aggregate Supply Model (With Price Flexibility) 11. Unemployment, Full Employment and Wage-Employment Relationship PART II: POST-KEYNESIAN DEVELOPMENTS IN MACROECONOMICS 12. The IS-LM Curve Model 13. Inflation-Unemployment Trade-off : Phillips Curve and Rational Expectations Theory 14. Stagflation and Supply-Side Economics 15. The New Classical Economics : Rational Expectations Model 16. The New Keynesian Economics PART III: MONETARY DEM
