Product Description

The 2014 edition of Introductory Macroeconomics – Textbook in Economics helps the students of class 12 to study the branches of economics that cover the behaviour and performance of an economy as a whole. It has been published by NCERT and closely maintains parity with the syllabus that has been laid out by the CBSE.

The Contents of the Book are as Follows:
• INTRODUCTION
• Emergence of Macroeconomics
• Context of the Present Book of Macroeconomics
• 2. NATIONAL INCOME ACCOUNTING
• Some Basic Concepts of Macroeconomics
• Circular Flow of Income and Methods of Calculating National Income
– The Product or Value Added Method
– Expenditure Method
– Income Method
• Some Macroeconomic Identities
• Goods and Prices
• GDP and Welfare
• 3. MONEY AND RANKING
• Functions of Money
• Demand for Money
– The Transaction Motive
– The Speculative Motive
• The Supply of Money
– Legal Definitions: Narrow and Broad Money
– Money Creation by the Banking System
– Instruments of Monetary Policy and the Reserve Bank of India
• 4. INCOME DETERMINATION
• Ex-ante and Ex-post
• Movement Along a Curve versus Shift of a Curve
• The Short Run Fixed Price Analysis of The Product Market
– A Point on the Aggregate Demand Curve
– Effects of an Autonomous Change on, Equilibrium Demand in the Product Market
– The Multiplier Mechanism
• 5. THE Government: BUDGET AND THE ECONOMY
• Components of the Government Budget
– The Revenue Account
– The Capital Account
– Measures of Government Deficit
• Fiscal Policy
– Changes in Government Expenditure
– Changes in Taxes
– Debt
• 6. Open ECONOMY macroeconomics
• The Balance of Payments
– BoP Surplus and Deficit
• The Foreign Exchange Market
– Determination of the Exchange Rate
– Flexible Exchange Rates
– Fixed Exchange Rates
– Managed Floating
-Exchange Rate Management: The International Experience
• The Determination of Income in an Open Economy
– National Income Identity for an Open Economy
– Equilibrium Output and the Trade Balance
• Trade Deficits, Savings and Investment

Salient Features of the Textbook:
• Helps the students understand and analyse all aggregate indicators and the macroeconomic factors that influence the economy.
• Helps the students to understand how the government and corporations use macroeconomic models to help in formulating economic policies and strategies.
• Includes interactive database that is full of graphs and schematic representations of data, which not only makes it easy to grasp the basic concepts but also easy to memorise.