- Cover
- Title Page
- Contents
- Dedication
- List of Figures
- Preface
- Unit I: Introduction
- Unit II: National Income and its Determination
- 3. National Income
- 4. The Classical Model of Income Determination
- 5. The Keynesian Model of Income Determination in a Two Sector Economy
- 6. Shifts in the Aggregate Demand and the Multiplier
- 7. The Keynesian Model of Income Determination in a Three Sector Economy: Introduction of the Government Sector
- 8. The Keynesian Model of Income Determination in a Four Sector Economy: Introduction of the Foreign Sector
- Unit III: Theories of Consumption and Investment Spending
- Unit IV: An Analysis of the Monetary Sector
- Unit V: The IS-LM Framework: Equilibrium in the Goods and Money Markets
- 16. The IS-LM Model for a Two Sector Economy
- Introduction
- The IS-LM Model in a Two Sector Economy
- The Goods Market Equilibrium in a Two Sector Economy: The IS Curve
- The Money Market Equilibrium in a Two Sector Economy: The LM Curve
- Equilibrium in the Two Markets: The Goods Market and Money Market
- Disequilibrium to Equilibrium: The Process of Adjustment
- A Shift in the IS–LM Curves
- Summary
- Review Questions
- 17. The IS-LM Framework for a Three Sector Model
- Introduction
- The IS-LM Model for a Three Sector Economy
- The Goods Market Equilibrium in a Three Sector Economy: The IS Curve
- The Money–Market Equilibrium in a Three Sector Economy: The LM Curve
- Equilibrium in the Goods and the Money Market in Three Sector Economy
- Shifts in the IS Curve Due to Changes in Fiscal Policy
- Shifts in the LM Curve Due to Monetary Policy
- The Elasticities of IS and LM Curves and the Effectiveness of Monetary and Fiscal Policies
- Summary
- Review Questions
- 18. Aggregate Demand and Aggregate Supply
- Introduction
- The Aggregate Demand Curve
- The Aggregate Supply Curve
- The Aggregate Demand and Aggregate Supply Model
- The Effects of a Monetary Expansion
- Effects of a Decrease in Government Budget Deficit
- Effects of a Shift in Aggregate Supply: Supply Shocks
- The Supply Side Economics
- Summary
- Review Questions
- 16. The IS-LM Model for a Two Sector Economy
- Unit VI: Inflation and Unemployment
- Unit VII: The Open Economy Macroeconomics and the Framework of Macroeconomic Policies
- 22. Foreign Exchange
- 23. Balance of Payments
- Introduction
- Meaning and Structure of Balance of Payments
- Double Entry Book Keeping
- A Disequilibrium in the Balance of Payments
- Kinds of Disequilibria in the Balance of Payments
- The Process of Adjustment in the Balance of Payments
- Analysis of Performance of Indian Economy in the External Sector
- Summary
- Review Questions
- 24. Macroeconomic Policies
- 25. Monetary Policy and Fiscal Policy
- Introduction
- Meaning of Monetar Policy
- Instruments of Monetary Policy
- Monetary Policy Developments in India
- Limitations of Monetary Policy
- Meaning of Fiscal Policy
- Instruments of Fiscal Policy
- Fiscal Policy and Stabilization in the Economy
- Full Employment Budget Surplus
- Limitations of Fiscal Policy
- Crowding Out and its Importance
- Summary
- Review Questions
- Appendix A
- Appendix B
- Appendix C
- Glossary
- Acknowledgements
- Copyright
MACROECONOMICS
Theory and Policy
VANITA AGARWAL
Associate Professor of Economics,
Department of Commerce
Lakshmibai College,
University of Delhi
Delhi • Chennai • Chandigarh
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