General Economics – II [ Indian Economic Service ]

Chapter 2 : National Income Accounting

Duration of Lectures : 121 Minutes

Topics Covered

►GDP Introduction,

►Product Approach of Measuring GDP, Expenditure Approach of Measuring GDP, Income Approach of Measuring GDP

►Real & Nominal GDP, GDP Deflator, Price Index

Chapter 3 : Social Accounting

Duration of Lectures : 30 Minutes

Topics Covered

►Environmental Considerations,

►Green National Income,

Chapter 4 : Classical Theory of Employment

Duration of Lectures : 331 Minutes

Topics Covered

►Classical Theory of Employment,

►Classical Theory of Interest Rate,

►New Classical Theory,

►New Keynesian Theory,

Chapter 5 : Money & Financial Markets

Duration of Lectures : 440 Minutes

Topics Covered

►Money, functions of Money, Types of Money, Properties of Money,

►Money Supply,

►Demand for Money, Factors Affecting Money Demand, Money Market Equilibrium,

►Open Market Operations, Bond Price and Bond Yield, Balance Sheet of Commercial Banks and of Central Bank,

►Meaning of Narrow Banking, Bank Run and FDIC Insurance,

►Meaning of High Powered Money, Demand for High Powered Money, Supply of High Powered Money, Money Multiplier,

►Simple Deposit Multiplier, Complete Deposit Multiplier,

Chapter 6 : Quantity Theory of Money

Duration of Lectures : 71 Minutes

Topics Covered

►Classical Version of QTM,

►Cambridge Version of QTM,

►Numericals on QTM

Chapter 7 : Inflation

Duration of Lectures : 189 Minutes

Topics Covered

►Meaning of Inflation, Inflation Rate, Deflation, Disinflation, Stagflation, Nominal & Real Interest Rate, Fisher’s Equation,

►Costs of Inflation,

►Causes of Inflation, Demand Pull Inflation, Cost Push Inflation,

►Numericals on Inflation,

Chapter 8 : Hyperinflation

Duration of Lectures : 154 Minutes

Topics Covered

►Hyperinflation Meaning, Costs of Hyperinflation, Causes of Hyperinflation,

►Classical Dichotomy, Monetary Neutrality, Seigniorage & Nominal Money Growth,

►Tanzi Olivera Effect,

►Elements of Stabilization Policy, Benefits of Inflation

Chapter 9 : IS – LM

Duration of Lectures : 324 Minutes

Topics Covered

►Aggregate Expenditure, Elements of Aggregate Expenditure, Two Sector and Three Sector Multiplier,

►Factors Affecting Three Sector Multiplier, Income Tax as Automatic Stabilizer, Balanced Budget Multiplier,

►IS Curve, Derivation of IS Curve, Slope of IS Curve,

►Factors Affecting Slope of IS Curve, Shift in the IS Curve,

►LM Curve, Derivation of LM Curve, Slope of LM Curve,

►Factors Affecting Slope of LM Curve, Shift in the LM Curve,

►Simultaneous Equilibrium

Chapter 10 : Monetary & Fiscal Policy

Duration of Lectures : 249 Minutes

Topics Covered

►Monetary Policy, Transmission mechanism, Monetary Policy Multiplier,

►Fiscal Policy, Fiscal Policy Multiplier,

►Horizontal LM (Liquidity Trap), Vertical LM (Classical Case),

►Policy Mix,

►Numericals on Fiscal & Monetary Policy

Chapter 11 : Aggregate Demand

Duration of Lectures : 163 Minutes

Topics Covered

►Aggregate Demand, Graphical & Mathematical Derivation of Aggregate Demand, Slope of Aggregate Demand,

►Factors Affecting Slope of Aggregate Demand, Aggregate Demand in Liquidity Trap & Classical Case,

►Effect of Fiscal Expansion on Aggregate Demand, Effect of Monetary Expansion on Aggregate Demand,

►Aggregate Supply, Keynesian Aggregate Supply, Classical Aggregate Supply,

Chapter 12 : Aggregate Supply

Duration of Lectures : 291 Minutes

Topics Covered

►Meaning of Unemployment, Wage Determination, Efficiency Wage, Wage Setting & Price Setting Relation, Equilibrium in Labour Market,

►Natural Rate of Unemployment,

►Derivation of Aggregate Supply, Properties of AS Relation, Aggregate Supply Curve, Equilibrium in the Short Run,

►Effect of Monetary Expansion & Fiscal Expansion Using IS-LM and AS-AD,

Chapter 13 : Phillips Curve & Okun’s Law

Duration of Lectures : 163 Minutes

Topics Covered

►Aggregate Demand, Graphical & Mathematical Derivation of Aggregate Demand, Slope of Aggregate Demand,

►Factors Affecting Slope of Aggregate Demand, Aggregate Demand in Liquidity Trap & Classical Case,

►Effect of Fiscal Expansion on Aggregate Demand, Effect of Monetary Expansion on Aggregate Demand,

►Aggregate Supply, Keynesian Aggregate Supply, Classical Aggregate Supply,

Chapter 1 : Introduction

Duration of Lectures : 20 Minutes

Topics Covered

►Introduction of International Economics,

Chapter 2 : Ricardian Model

Duration of Lectures : 171 Minutes

Topics Covered

►Absolute Advantage, Comparative Advantage,

►PPF of One Factor Economy, Trade in One Factor World, Determining Relative Price after Trade, Relative Supply, Relative Demand,

►Gains from Trade, Misconceptions about Comparative Advantage, Comparative Advantage with Many Goods,

Chapter 3 : Specific Factor Model

Duration of Lectures : 163 Minutes

Topics Covered

►Introduction of International Economics,

Chapter 4 : Standard Trade Model

Duration of Lectures : 132 Minutes

Topics Covered

►Absolute Advantage, Comparative Advantage,

►PPF of One Factor Economy, Trade in One Factor World, Determining Relative Price after Trade, Relative Supply, Relative Demand,

►Gains from Trade, Misconceptions about Comparative Advantage, Comparative Advantage with Many Goods,

Chapter 5 : Heckscher-Ohlin Model

Duration of Lectures : 290 Minutes

Topics Covered

►Introduction of International Economics,

Chapter 6 : Samuelson-Stopler Theorem

Duration of Lectures : 63 Minutes

Topics Covered

►Absolute Advantage, Comparative Advantage,

►PPF of One Factor Economy, Trade in One Factor World, Determining Relative Price after Trade, Relative Supply, Relative Demand,

►Gains from Trade, Misconceptions about Comparative Advantage, Comparative Advantage with Many Goods,