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These notes are based on important questions and syllabus. They are for preparation purposes only and not guaranteed exam predictions.

Macro Economics

B.Com Semester II • Important Questions

Unit I

Classical Theory of Rate of Interest

Concept, assumptions and criticism

Read

Loanable Funds Theory of Interest

Neo-classical approach and limitations

Read

Liquidity Preference Theory

Keynesian view of interest rate

Read

Ricardo Theory of Rent

Classical rent determination

Read

Modern Theory of Rent

Economic rent and transfer earnings

Read

Marginal Productivity Theory of Wages

Wage determination and criticism

Read

Modern Theory of Wages

Demand and supply approach

Read

Theories of Profit

Dynamic, Risk, Innovation & Uncertainty

Read
Unit II

Classical Theory of Income & Employment

Full employment and assumptions

Read

Say’s Law of Market

Supply creates its own demand

Read

Keynes Theory of Output & Employment

Role of aggregate demand

Read

Theory of Effective Demand

Determination of employment level

Read

Psychological Law of Consumption

Consumption behaviour and importance

Read

Consumption Function

Factors affecting consumption

Read

Investment – Types & Determinants

Importance for economy

Read

Multiplier (Static)

Working and leakages

Read

Dynamic Multiplier

Importance in developing countries

Read