School of Distance Education
                       MACROECONOMICS:
                  THEORIES AND POLICIES II
                              (ECO2C06)
                                STUDYMATERIAL
                                 II SEMESTER
                                 CORECOURSE
                             MA ECONOMICS
                          (2019Admission ONWARDS)
                          UNIVERSITYOFCALICUT
                          SCHOOLOFDISTANCEEDUCATION
                  Calicut University P.O, Malappuram Kerala, India 673635.
                                   190306
             Macro Economics : Theories and Policies II        Page1
                                           School of Distance Education
                    UNIVERSITY OF CALICUT
                    SCHOOL OF DISTANCE EDUCATION
                    STUDY MATERIAL
                    SECOND SEMESTER
                    MA ECONOMICS(2019 ADMISSION)
                    CORE COURSE : ECO2C06 :MACROECONOMICS :
                                              THEORIES AND POLICIES II
                 Prepared by          :    SUJIN K N,
                                           Assistant Professor,
                                           PG & Research Department of Economics,
                                           Government College,
                                           Kodanchery,
                                           Kozhikode - 673 580.
                 Scrutinized by       :    Dr.K.X Joseph,
                                           Professor (Retd.),
                                           Dr.John Matthai Centre,
                                           Thrissur.
                 Macro Economics : Theories and Policies II                       Page2
                                    School of Distance Education
                                     CONTENTS
                  I   Classical Vs Keynes                          5
                  II  Monetarism                                  79
                      NewClassical Macro Economics, Real
                 III  Business cycle School and Supply side       93
                      Economics
                 IV   The New Keynes School                      126
                  V   New Political Macroeconomics               151
              Macro Economics : Theories and Policies II             Page3
                                School of Distance Education
             Macro Economics : Theories and Policies II       Page4