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Unit 1

National Income and Determination of National Income

Introduction

Principles determining the pricing of products and of productive resources.

Introduction and definition of National Income

The theory of value and distribution

Price are very important - volume of activity and employement - as a whole economy

The great depresion of 30th century

Keybes "General Theory of Employment, Interest and Money"

What we learn?

In this course

concerned with aggregates such as National Income, Total Output, Employement, total consumption, saving, Investment, aggregate demand and supply, and the general level of prices.

What determines the levelof total output and employment in the economy and fluctuations oin this lebel from one time period to another?

a. the determination of aggregate output and emplyement at a moment

b. the analysis of causes of fluctuations in this level overa period of time.

Theory of trade cycle

Dr. Alfred Marshall

Pigou's

Prof. Fisher

Topic 2

Factors

determining National Income

Text

Text

Pictures

Topic 3

Concepts of National Income

Chart

Chart

Timeline

Timeline

YEAR

Topic 4

Measurement of National Income

Significance of National Income Statistics

Determination of National Income

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