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Macroeconomics

Here you will dive deep into the world of macroeconomics with respect to India as an economy and will practise your concepts with the help of NCERT questions, Sample papers and extra worksheets prepared by the experts at Teachoo.

Macroeconomics focuses on the performance of economies – changes in economic output, inflation, interest and foreign exchange rates, and the balance of payments. It also depicts that poverty reduction, social equity, and sustainable growth are only possible with sound monetary and fiscal policies.

Macroeconomics is further divided into 5 units which are -

  • National Income and related aggregates
    National income is the Gross Domestic Product (GDP) of the country and this unit focuses upon the circular flow income which is how the money travels across an economy and then helps us understand how to calculate the national income of a country.
  • Money and Banking
    This unit explains the concept of fiscal money and how it is used or saved in an economy. It also tells about the working of the central bank of the country which, for India, is the 

.

  • Determination of Income and Employment
    This unit is one of the most important units and will help you whenever you learn about economics in the future. It contains the concept of aggregate demand and aggregate supply along with the methods of determining national income and its multipliers.
  • Government budget and the economy
    This unit explains the budget of a country and how the government of India allocates funds to various heads. This allocation is done in priority order and the order changes every year when the budget is presented.
  • Balance of payment
    This unit will help you understand how the foreign exchange system works in terms of the currency of every country. Balance of payments also explains the reserve funds which India holds in terms of dollars which is the most commonly used currency worldwide.

 

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