Be Competent In Macroeconomics

Unveiling National Income, Central Banking, Keynesian Theory, Government Budgeting, and Open Economy Components.

What you'll learn

1. Acquire knowledge of fundamental terms such as domestic income, national income, normal residents, propensity to consume and save, and many more.

2. Understand and comprehend the significance of macroeconomics, functions of the RBI and its monetary policy, fiscal policy, and government expenditure.

3. Apply various concepts and develop proficiency by solving numerical problems related to national income, multiplier, budget, and many more.

4. Analyze NNP, GDP, macroeconomic identities, creation of money, consumption, investment, excess and deficient demand, and impact on output and revenue.

5. Examine the components of the revenue and the capital account in a government budget.

6. Evaluate deficit, balance of payment surplus, fixed and flexible exchange rates, managed floating and determination of exchange rate.

Requirements

Prior familiarity with computers is necessary for effective navigation through the course.

Description

The course is presented through a combination of 70 engaging lecture videos. It is structured into distinct sections that provide a comprehensive understanding of the subject matter.1. Be Competent in Macroeconomics: In this enlightening lecture video, the entire scope of the macroeconomics course is concisely outlined, introducing the various units and their interrelated sub-units.2. Estimation of National Income:In this unit, the students will understand fundamental concepts like Domestic Territory, Normal residents, Consumption of fixed capital, Factor and Transfer Payments, and many more; examine and evaluate the Production approach, the Income approach, and the Expenditure approach of estimating national income; formulate connections among various related aggregates of national income, and rationally justify the treatment of specific items while estimating domestic and national income. They will also apply the knowledge gained to solve numerical problems.By the end of this learning module, students will possess the analytical skills required to comprehensively understand the methods and concepts of estimating national income, enabling them to evaluate its implications for economic analysis and societal well-being critically.3. Money and Banking:This unit equips students with a deep understanding of the components that constitute the money supply and the monetary system; examines the process of credit creation by commercial banks and explores the multiplier effect; investigates the Reserve Bank of India's crucial role as the banker to the government and to the banks. Through a blend of theoretical knowledge and real-world examples, students will develop the analytical skills necessary to assess and respond to the dynamic challenges of the financial sector.4. Determination of Income and Employment:This unit delves into the core principles of Keynesian economics, offering students a comprehensive understanding of how income and employment levels are determined in a modern economy. Through a systematic exploration of consumption, savings, and investment functions, students will gain insight into the dynamics of economic equilibrium through the AD-AS Approach, and S-I Approach: demand, explore the concept of the multiplier effect; investigate the relationships between the Marginal Propensity to Consume, Marginal Propensity to Save, and the multiplier; understand the concept of excess and deficient demand and measures to control through monetary and fiscal policies5. Government Budget:This unit offers an in-depth exploration of budgetary goals, delves into the intricate components and structure of the revenue budget; investigates the composition and structure of the capital budget; comprehends the concept of a budget deficit, and analyzes the economic and fiscal implications of budget deficits, including borrowing and debt management strategies. Hence, it provides students with a comprehensive understanding of the fundamental components, objectives, and implications of a nation's budget.6. Balance of Payment:This comprehensive unit examines the overall structure of the balance of payments; investigates the components of current and capital account; explore the concept of a surplus and deficit in the BOP and their consequences; gain insight into the fixed, flexible, and managed floating exchange rate systems; analyze their advantages and disadvantages. This unit serves as a foundation for understanding global financial markets and international trade.

Overview

Section 1: Introduction

Lecture 1 Know your Instructor

Lecture 2 Be Competent in Macroeconomics

Section 2: Estimation of National Income

Lecture 3 National Income Estimation: Learning Objectives

Lecture 4 Basic Concepts: Circular Flow

Lecture 5 Basic Concepts: Domestic Territory

Lecture 6 Basic Concepts: Normal Resident

Lecture 7 Basic Concepts: Intermediate and Final Goods

Lecture 8 Basic Concepts: Consumer and Capital Goods

Lecture 9 Basic Concepts: Investment

Lecture 10 Basic Concepts: Consumption of Fixed Capital

Lecture 11 Basic Concepts: Net Indirect Taxes

Lecture 12 Basic Concepts: Stocks and Flows

Lecture 13 Basic Concepts: Factor and Transfer Payment

Lecture 14 Basic Concepts: Net Factor income from abroad

Lecture 15 National Income: Various Aggregates

Lecture 16 National Income Estimation at Constant and Current Prices

Lecture 17 GDP and Welfare

Lecture 18 Value of Output

Lecture 19 Value-Added Method

Lecture 20 Value-Added Method -Steps involved

Lecture 21 Value-Added Method - Numerical

Lecture 22 Income Method- Compensation of Employees

Lecture 23 Income Method- Operating Surplus

Lecture 24 Income Method- Steps Involved

Lecture 25 Income Method- Numerical

Lecture 26 Expenditure Method-Components

Lecture 27 Expenditure Method-Steps involved

Lecture 28 Expenditure Method-Numerical

Lecture 29 Criteria: Domestic Income

Lecture 30 Criteria: National Income

Section 3: Money and Banking

Lecture 31 Money and Banking: Learning Objectives

Lecture 32 Money Supply: Components

Lecture 33 Credit Creation

Lecture 34 RBI: Banker to Government

Lecture 35 RBI: Banker to Banks

Lecture 36 RBI: Controller of Money Supply

Section 4: Determination of Income and Employment

Lecture 37 Detrermination of Income and Employment: Learning Objectives

Lecture 38 Main Tenets of Keynesian Theory

Lecture 39 Consumption Function

Lecture 40 Savings Function

Lecture 41 Investment Function

Lecture 42 Few Concepts

Lecture 43 Aggregate Supply

Lecture 44 Aggregate Demand - Aggregate Supply Approach

Lecture 45 Tabular Presentation- AD-AS Approach

Lecture 46 Diagrammatic Presentation - AD-AS Approach

Lecture 47 Savings-Investment Approach

Lecture 48 Tabular Presentation: S-I Approach

Lecture 49 Diagrammatic Presentation: S-I Approach

Lecture 50 Multiplier and its working

Lecture 51 Relation between MPC MPS and K

Lecture 52 Excess Demand

Lecture 53 Measures to Control Excess Demand

Lecture 54 Deficient Demand

Lecture 55 Measures to Control Deficient Demand

Section 5: Government Budget

Lecture 56 Government Budget: Learning Objectives

Lecture 57 Objectives of the Government Budget

Lecture 58 Structure of Revenue Budget

Lecture 59 Capital Budget

Lecture 60 Budget Deficit

Section 6: Balance of Payments

Lecture 61 Balance of Payment: Learning Objectives

Lecture 62 Balance of Payment

Lecture 63 Current Account

Lecture 64 Capital Account

Lecture 65 Other Items

Lecture 66 Equilibrium: Balance of Payment

Lecture 67 Fixed Exchange Rate System

Lecture 68 Fixed Exchange Rate System: Advantages and Disadvantages

Lecture 69 Flexible Exchange Rate System

Lecture 70 Flexible Exchange Rate System: Advantages and Disadvantages

Lecture 71 Managed Floating Exchange Rate System

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