The scope and subject matter of Macroeconomics can be describes as follow:

1. Macroeconomics is concerned with the behaviour of the economy as a whole. It is the study of aggregates and averages of the entire economy.
2. The subject matter of macroeconomics is income and employment, inflation, money supply,price level, investment and economic growth and development.

The purpose of macroeconomics is to present a logical framework for the analysis of these phenomena.

1. Having understood these phenomena, the aim is how to ensure the maximum level of income and employment in a country.
2. Since the subject matter of macroeconomics revolves around determination of the level of income and employment, therefore, it is also known as ‘Theory of Income and Employment’.
3. Correct economic policies formulated at macro level make it possible to control business cycles (inflation and deflation) in the economy.

Tariff barriers refer to the taxes imposed on the imports by a country to protect its domestic industries. It is allowed by World Trade Organisation to be imposed by its member countries at a reasonable rate.

1. By quota, imports of

goods is restricted after a

certain quantity.

2. The quantity of imported goods is determined by the Government under quota.

3. Import quotas are

comparatively more protective

4. Under quotas, the government's revenues increase indirectly.

5. Quotas affect both the efficient and inefficient foreign producers adversely.

6. Under quotas, domestic inefficient, producers are sought to protect by abolishing the competition.

The stagnation in the agricultural sector was caused mainly because of the various systems of land-settlement that were introduced

by the colonial government. Particularly under the Zamindari system, the profit accruing out of the

agriculture sector went to Zamindars instead of the cultivators. The Zamindars did nothing to improve the condition of agriculture. Their main interest was only of collect rent regardless of the economic conditions of the cultivators. This caused immense misery and social tension among the latter. Under Zamindari system, intermediaries (Zamindari) benefitted at the cost of both

actual cultivator and the state.

Aims of Education
There are conflicting ideas about the aims or purposes of education. These disagreements have existed since early times, relative to philosophical stands, specific contexts, and historical periods. For example, the purpose of education in the New England colonies was to prepare the child to read the bible in order to be able to seek salvation. Which of the aims below do you believe to be the most important? Why?

Intellectual Achievement: To provide students with academic knowledge and skills in order to prepare them for post-secondary education or the workforce. This has been the most agreed upon aim of education. Most parents want their children to reach high standards in math, English, history, and science.

Prosocial Values: To train students for responsible citizenship and prepare them for adulthood through socializing them in the norms and values of society. Teachers, who symbolize authority to the child, emphasize the values of a democratic society, such as patriotism, obedience, honesty, cooperation, competitiveness, and moral responsibility.

Economic Competitiveness (social efficiency): To provide students with skills and knowledge needed to be competitive in a global economy; become an effective and efficient work force; and prepare workers with values and socialization needed in the workplace through developing attitudes such as punctuality, cooperation, and following rules.

Personal Growth: To help students find self-fulfillment, personal relevance, clarification of personal values, communication and self-expression skills, and development of effective learning styles. Student interests and feelings are emphasized. The curriculum is created collaboratively between teachers and students to help students reach their potential.

Socialization and Culture: To impart culture to students through great ideas of western culture, such as works of art, literary classics, and basic skills so that they are literate and cultured citizens and can participate intelligently in American society. Schools are places where students from diverse language and cultural backgrounds learn English and learn about American traditions, holidays, historical figures, geography, and democracy.

Social Change: To help students become productive citizens that are capable of changing the social order through emphasis on social issues and solving of social problems. Students are provided with the knowledge and skills to improve society and are given opportunities to see themselves as both individuals and contributing to the group and the larger society. They are encouraged to participate in community service or service learning, so that they become reflective and responsive about the needs and problems in their community. A purpose of education is to advance social mobility, rather than perpetuate the status quo.

Equal Educational Opportunity: To ensure that all students have a free education, common curriculum, opportunities for diverse students to attend the same school, and equality of financial expenditure in a given locality. There is clear evidence that certain groups in American society are denied equal opportunity economically, socially, and educationally. It is essential that all children, regardless of race, ethnic background, gender, religion, socioeconomic level, or language, receive a quality education. A balance between diversity and unity is needed in schools.

Problem Solving: To teach students how to learn through the development of thinking, research, and study skills so that they become excellent problem solvers and creative thinkers who are capable of dealing with change. The rapidity of change today, technological advances, and the explosion of information require that students develop tools for lifelong learning.

A monetary authority is a central bank or currency board. Most central banks have a certain degree of independence from the government and its political targets and decisions. Commonly, there is one monetary authority for one country with its currency. In India, the central monetary authority is the Reserve Bank of India (RBI). It is designed to maintaining the price stability in the economy.

Ex-ante measures refers to the desired measures planned in an economy during the period of an accounting year.

Ex-post measures refers to the actual measures that take place in an economy during the period of an accounting year. these measures are considered into the calculation of national income in an economy.

The state of Gujarat is at the top position in per capita installed electricity generation capacity followed by Maharashtra, Tamil Nadu, Andhra Pradesh and Uttar Pradesh. All these five states contribute towards 48% of installed electricity generation capacity of the entire country. In India, Electricity was first introduced in Kolkata (Then Calcutta). The first electric light was lit in Calcutta in 1879 and then in 1881. With Calcutta Electric Lighting Act in 1895, Kilburn & Co. obtain the licence of electrification in Calcutta as an agent of Calcutta Electric Supply Corporation Limited.

The National Population Policy (NPP) 2000 provides a policy framework of achieving goals and prioritizing strategies during the next decade to meet the reproductive and child health needs of the people of India along with the target to achieve the net replacement levels (Total Fertility Rate).

The distribution of working population according to the occupations they are engaged in is referred to as the Occupational structure. Occupational structure refers to the distribution of working population among the different sectors in the economy.

Education raises people's productivity and creativity and promotes entrepreneurship and technological advances. In addition it plays a very crucial role in securing economic and social progress and improving income distribution.

Industrial licensing is an authority issued by the government organisation to permit the institution or organisation for starting an industry .

Drain of wealth means that economic policies of the British in India were primarily motivated to snatch maximum benefits from India’s trade. India’s foreign trade generated large export surplus. This export surplus did not result in any flow of gold or silver into India. There was drain of India’s wealth into Britain.

It is clear from the following facts :-

•     The surplus was used to make payments for the expenses incurred by the office set up by the colonial government in Britain.
•     The surplus was used to pay expenses on war fought by the British government.
•     Surplus was used to pay for the import of invisible items.

Money supply refers 'to the total sum of money available to the public in the economy at a point of time. That is, money supply is a stock concept in sharp contrast to the national income which is a flow representing the value of goods and services produced per unit of time, usually taken as a year. Money supply is a stock variable because it is expressed at a particular point of time.

Credit creation separates a bank from other financial institutions. In simple terms, credit creation is the expansion of deposits. And, banks can expand their demand deposits as a multiple of their cash reserves because demand deposits serve as the principal medium of exchange.

Economics agents are those who take Economic decisions. In microeconomics there are Individual economic agents and at macro level there are institutional Economic agents who take Economic decisions.

The term infrastructure refers to the underlying tangible and organisational structures that are essential for the smooth and prosperous functioning of an economy. In other words, infrastructure is regarded as a core support system that enables an economy to grow and develop. Generally, the term infrastructure means technical structure such as roads, transport, communication, bridges, dams, power, public institutions like schools, hospitals, etc. These structures not only serve as basic input for various economic activities like production, investment, but also enable an economy to break the shackles of traditional and primitive social structures and customs. The difference between a developed country and an underdeveloped country can be mainly attributed to the lack of sufficient and technically advanced infrastructure in the latter. Infrastructure has two-fold benefits- as an input and as a support system. Infrastructure as an input (roads, bank and power) facilitates the production process and attracts investment from domestic as well as from foreign investors. Infrastructure as a support system (such as schools, hospital) develops the quality of human capital by imparting quality and technical education and health facilities. This raises the standard and quality of living and helps the economy to eradicate major economic problems like poverty, unemployment and inequality. Hence, it can be concluded that the presence of quality and sufficient infrastructure is a necessary and sufficient condition for accomplishing economic growth and development.

Under expenditure method national income is calculated first by adding up all the items of final consumption expenditure and final investment expenditure within the domestic economy The resulting total is called GDP at MR By subtracting depreciation and net indirect taxes from GDP at MP and adding to its net factor. A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI* adjusted for natural resource depletion).