A Textbook of Modern Macroeconomics
A Textbook of Modern Macroeconomics

Tags: A Textbook of Modern Macroeconomics, Business and Economics, Economics, L.N. Dutta

A Textbook of Modern Macroeconomics

The book Modern Macroeconomics is adornments with illustrative examples drawing on data from Indian macroeconomy to help students relate the stark theory to the real-world situations. The book is the key reading for undergraduate students, as there are new developments and complications in the world of macroeconomic over the past several years.
The book contains a number of mathematical derivations and conclusions. As such, the students are expected to have a grasp on the basic mathematical techniques even though they are supported by ample graphical illustrations.
The book includes ‘business cycles’ which, in most cases, originate in the form of ‘shocks’ of some kind or other, thus posing challenges to macroeconomic management. The book has dealt with, atleast, one such shock in the form of COVID-19 pandemic with its fallout on the world economy.
It may be mentioned here that by the time the book was going to the ‘print’, another ‘shock’ of greater magnitude was brewing in the shape of Russia-Ukraine war, threatening to lead to World War-III. However, this macroeconomic shock could not be taken up at its premature stage.

Part 1: National Income analysis
1. National Income Analysis
Part 2: Product Market analysis: Output, Employment and Income Determination
1. The Classical Theory: Employment and Output in the Long Run
2. The Keynesian Theory: Employment and Output Determination in the Short Run
3. Keynesian Theory of Income Determination
4. Income Determination Model with Government
Part3: Money Market analysis
5. Supply of Money and the Banking System
6. Theories of Demand for Money
Part4: Integration of Product and Money Markets
7. The IS-LM Model
8. Aggregate Demand and Aggregate Supply
Part5: Post-Keynesian Macroeconomics
9. Monetarism
10. New Classical Macroeconomics/Supply Side Economics
11. New Keynesian Macroeconomics
Part6: Macro-theories of Consumption/Savings
12. Macro-theories of Consumption/Savings
13. Theories of Investment and Capital Accumulation
Part7: Economic Growth and Business Cycles
14. Theories of Growth and Development :Macroeconomic Equilibrium in the Long Run
15. The Business Cycles: Theory and Policy
Part8: Inflation and Phillips Curve
16. Inflation
Part9: International Macroeconomics
17. International Macroeconomics
Part10: Macroeconomic Policies
18. Modern Macroeconomic Policy: Monetary Policy
19. Fiscal Policy

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