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Chapter 1 - Introduction to Macroeconomics - Part 1
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This lesson gives an introduction to Macroeconomics.

Ayussh Sanghi is teaching live on Unacademy Plus

Ayussh Sanghi
Passionate Educator - CSE / Other Govt Exams [Peep into my Unacademy Plus Courses & experience awesome learning.]

Unacademy user
Keynes advocated the fiscal policy theory that is, increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the depression.his theory also rfered as passive fiscal policy. thank you :)
Hello sir it's nice to have this course now. It's a request please complete this course before end of March as it is very important and effective way to revise before prelims. Thanks
Keynes questioned the very principles of ‘laissez-faire’ and the nature of the ‘invisible hand’. He even opined that the invisible hand brings equilibrium to the economy but by ‘strangulating the poor’. He suggested that prices and wages are not flexible enough to provide employment to all. Keynes suggested strong government intervention in the economy. To get the economy out of the depression, he suggested an increase in government expenditures, discretionary fiscal policy (fiscal deficit, lower interest rates, cheap money supply, etc.) to boost the demand of goods and services as this was the reason behind the depression. Thanks :)
Sir please complete the course
Gautam Gunjan
2 years ago
Hey brthr..This is lethargic condition of Unacademy where in the halfway they leave the course due to Plus courses..
Free man
2 years ago
Actually, I joined Unacademy and started following it for the simple reason as it was branded as some sort of social welfare platform where they will provide free online courses for financially constrained students. But I think this business model seems to be failed as either the free courses are not properly and structurally organised and also the quality of educators are not good. The high quality educators are also not providing courses rather they are focused on getting students to PLUS courses.
Free man
2 years ago
Still not a single high quality complete course on NCERT's macroeconomics. Same for other subjects too. But still cheers to the efforts of the educators.
Gautam Gunjan
2 years ago
Yes..But when they are providing they should be full proof..
Sir please complete all chaptets

  2. CHAPTER 1

  3. PART 1 by ayussh sanghi

  4. "The ideas of economists and political philosophers, both when they are right and when they are wrong are more powerful than is commonly understood Indeed, the world is ruled by little else Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist." John Maynard Keynes

  5. INTRODUCTION TO MACROECONOMICS WHAT IS ECONOMICS? Alfred Marsh defined it as "Economics is the study of humans in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth, and on the other and more important side, a part of the study of man." Basically, it is the study of people and choices. You already know that Economics is broadly classified into two parts; Microeconomics and Macroeconomics.

  6. INTRODUCTION TO MACROECONOMICS WHAT IS MICROECONOMICS? ECONOMIC AGENTS INCLUDE THOSE INDIVIDUALS OR INSTITUTIONS WHICH TAKE ECONOMIC DECISIONS As clear from the name itself, Microeconomics is the study of individual 'economic agents' and the nature of motivations that drive them. The term "micro" denotes small agents, say an individual consumer who wants to decide whether to buy a chocolate don and more ut or a producer trying to manufacture more costs.

  7. INTRODUCTION TO MACROECONOMICS WHAT IS MACROECONOMICS? Macroeconomics, on the other hand tries to address situations facing the economy as a whole In other words, it is the study of the performance and structure of the whole economy rather than individual markets.

  8. INTRODUCTION TO MACROECONOMICS MICROECONOMICS V MACROECONOMICS Microeconomics Macroeconomics Microeconomics is the study of economics at the individual or business level; how individual people or businesses behave given the scarcity and government intervention Macroeconomics is the study of the performance and structure of the whole economy rather than individual markets Meaning Subject of Study Individual Economic Variables Aggregate Economic Variables Covers various issues like demand, supply, product pricing, factor pricing, production, consumption, economic welfare, etc. Covers various issues like, national income, general price level, distribution, employment, money etc. Scope Helpful in determining the prices of a product along with the prices of factors of production (land, resolves the major problems of the economy like labor, capital, entrepreneur etc.) within the economy Maintains stability in the general price level and Importance inflation, deflation, reflation, unemployment and poverty as a whole