| |
It is a matter of great satisfaction for us that the first two editions of our book Principles of Macroeconomics written for B.Com. and B.A. (Programme) Second Year, Delhi University, were very well received both by students and teachers alike. Encouraged by this response, we now present the third edition of our book. This book covers the entire syllabus in a comprehensive and exhaustive way. The pattern of discussion follows the framework as laid down in Richard G. Lipsey and K. Alec Chrystal, Principles of Economics (New York, Oxford University Press, Ninth edition, 1999) as required in the syllabus. The entire discussion is divided into four parts. The organization, structure and contents of these parts is as follows :
Part One on `Macroeconomic Issues and Measurement` is divided into four chapters. Chapter 1 discusses the definition of macroeconomics and the major macroeconomics issue and then proceeds to explain the methods of macroeconomic analysis. Chapter 2 defines the concept of national income while Chapter 3 discusses the methods of measuring national income and related aggregates. Chapter 4 is devoted to a discussion of the classical and Keynesian theory of employment and income.
Part Two on `Theory of Income Determination` consists of seven chapters. We start with the discussion of consumption function in chapter 5 and follow it up with the discussion of investment function in Chapter 6. In Chapter 7 we consider national income determination in a two sector economy while Chapter 8 is devoted to a discussion of the multiplier. In Chapter 9 we extend the model of income determination to incorporate the government sector and the foreign trade sector. The next two chapters are devoted to the discussion of the relationship between GDP and price level--in Chapter 10 the focus is on short-run while in Chapter 11 the focus is on long-run.
Part Three on `Monetary Economy` consists of eight chapters. We start a discussion on the nature and functions of money in chapter 12. This is followed by a discussion on the demand for money in Chapter 13 and the analysis of the quantity theory of money in Chapter 14. Chapter 15 considers the liquidity preference theory of interest while Chapter 16 discusses the monetary policy. The IS-LM analysis which explains the simultaneous equilibrium in product market and money market is considered in Chapter 18 while Chapter 19 discusses the business cycles and aggregate shocks.
Part Four `Some Macroeconomic Issue in Open Economy` consists of three chapters. We start with a discussion on the balance of payments in Chapter 20. Foreign exchange market is discussed in Chapter 21 while the fixed and flexible exchange rate systems are analyzed in Chapter 22--the last chapter of the book.
In writing the above book we have taken particular care to ensure that each and every issue listed in the syllabus is discussed and analyzed properly. Difficult concepts have been explained in detail in a simple and easy language. In addition, definitions and important statements have been highlighted in bold letters for the benefit of students. Some numerical examples have also been worked out at different places of the book which will help in better understanding of the concepts. Main points have been summed up under the caption `Key Points` at the end of each chapter. For the practice of students, a set of questions has been added at the end of each chapter.ISBN - 9789350511619
|
| |
Pages : 356
|