Concept of National Income Accounting; Review of controversies in macroeconomics; Micro foundation, adjustment to disequilibrium and price clearing; inter-temporal substitution, Micro based money demand formulation, Micro based labour market and a complete market clearing model, inflation in market clearing model; Issues of consumption (Simple Keynesian life-cycle and permanent income hypothesis), investment (the user cost, accelerator and Tobin - q) and growth (only one sector II Arrod-Domar).
- Teacher: Teshager Asefa