Introductory Guide to Macroeconomics

Economics is the scientific study of the ways in which humans make choices about production, consumption and wealth. It is the Social Science of studying a balance between needs and available resources.

A. Understanding Economics

  1. Meaning of Economics
  2. Branches of Economics
  3. Positive and Normative Economics
  4. Human Wants
  5. Goods and Services
  6. Capitalist, Socialist and Mixed Economies
  7. Developed and Developing Economies
  8. Economic Growth and Development
  9. Central Problems of Economy
  10. Basic Economic Activities

B. Money and Banking

  1. Barter System
  2. Functions of Money
  3. Functions of Bank
  4. Credit Creation
  5. Types of Banks in India
  6. Saving
  7. Insurance

C. Government Budget

  1. Government Budget & Economy
  2. Meaning of Government Budget
  3. Structure of Budget
  4. Deficit and Surplus Budget
  5. Budgetary or Fiscal Policy

D. National Income

  1. National Income Accounting
  2. Meaning of Income
  3. Circular Flow of Income
  4. Concepts Related to National Income
  5. National Income and Related Aggregates
  6. Open Economy Macroeconomics

E. Indian Economic Development

  1. Features of Indian Economy
  2. Indian Economy after Independence
  3. Economic Planning in India
  4. Economic Liberalisation of 1991
  5. Sectorial Aspects of Indian Economy
  6. Challenges of Indian Economy