Nature and scope of Macro Economics - Difference between Micro and Macro Economics - National Income and Social accounting - Methods and problems of measurement

Classical theory of Price, Output and Employment - Keynesian Theory of Income and employment - Theory of effective demand - Involuntary unemployment & Full employment.

The consumption function - concept of multiplier - determinants of investment - liquidity preference and rate of interest - Principle of acceleration.

The rate of Interest & General Equilibrium - Interaction of IS & LM Function - shifting of IS function - Shifting of LM function

Macroeconomic policies and objectives - Philip's curve - trade off and non - trade off