Week 3 Keynisan Economics , IS LM Frame Work
The Demand Management Economy The Keynesian framework, Characteristics of a depression economy, Innovations due to Keynes: The consumption function, The liquidity preference function, Wage rigidity in the labour market, The ISLM model, Mathematical derivation of the IS and LM functions,
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Course Material
- Week 1 Macroeconomics Background (Classical Economics)
- Week 2 The Quantity theory of money, The Marginal Productivity theory
- Week 3 Keynisan Economics , IS LM Frame Work
- Week 4 Derivation of Aggreagte Demand Fucntion, The Keynsian Neo Classical Synthesis
- Week 5 The interaction of the goods and money markets in a closed economy, The role of public sector investment, The multiplier effects of fiscal and monetary actions
- Week 6 Demand for and Supply of Labour, The wage rate determination
- Week 7 The notions of full-employment and under-employment, Scarcity of raw material and energy, The supply side disturbances leading to stagflation
- Week 8 Balance of Payments: Current and Capital account, The IS-LM-FB model due to Mundell and Fleming,
- Week 9 Determinants of the Exchange Rates, Devaluation and its impacts for developing countries
- Week 10 Macroeconomics Policy: the Fiscal, Monetary and Commercial policies
- Week 11 Different Schools of Economic Thought the short-run and long-run analysis of the Phillips Curve
- Week 12 The Perfect Foresight and adjustment.
- Week 13 The accumulation of capital, Acceleration principle and the concept of steady state growth path
- Week 14 The steady state conditions, The basic Neoclassical (Solow) growth model
- Week 15 The role of technical progress in growth, Introduction to the theory of Real Business Cycles
- Week 16 Interpretation, Labor market, Technology shocks, Household Behaviour, the persistence of output Fluctuations, (ACase Study)Limitations of the Model.
- Chapters 16
- Department Economic (SCB)
- Teacher
Mr. Muhammad Khizar Hayat
