What is Macroeconomics and Concepts in Macroeconomics

Circular flow of income (two sector model)

Methods of calculating National Income

Aggregates related to National Income

Money – Meaning and Functions

Supply of Money

Central bank and its functions

(CRR), (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.

Government budget – Meaning, Objectives and Components.

Classification of Receipts – Revenue Receipts and Capital Receipts

Classification of Expenditure – Revenue expenditure and Capital expenditure.

Balanced, Surplus and Deficit Budget – Measures of Government deficit.

Balance of Payments account – Meaning and Components

Balance of Payments – Surplus and Deficit

Foreign Exchange Rate – meaning of fixed and flexible rates and managed floating

Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange rate.

Managed Floating exchange rate system