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Showing posts with label Second Semester. Show all posts
Showing posts with label Second Semester. Show all posts

Casualty: Seamus Heaney, The Poet

Seamus Heaney

Seamus Heaney is widely recognized as one of the major poets of the twentieth century. A native of Northern Ireland, Heaney currently lives in Dublin. Heaney taught at Harvard University from 1985 to 2006, where he was a Visiting Professor, and then Boylston Professor of Rhetoric and Oratory at Harvard University (1985-1997) and Ralph Waldo Emerson Poet in Residence (1998-2006). Heaney has attracted a readership on several continents and has won prestigious literary awards and honors, including the Nobel Prize. As Blake Morrison noted in his work Seamus Heaney, the author is "that rare thing, a poet rated highly by critics and academics yet popular with 'the common reader.'" Part of Heaney's popularity stems from his subject matter—modern Northern Ireland, its farms and cities beset with civil strife, its natural culture and language overrun by English rule. The New York Review of Booksessayist Richard Murphy described Heaney as "the poet who has shown the finest art in presenting a coherent vision of Ireland, past and present." Heaney's poetry is known for its aural beauty and finely-wrought textures. Often described as a regional poet, he is also a traditionalist who deliberately gestures back towards the “pre-modern” worlds of William Wordsworth and John Clare.

Heaney was born and raised in Castledawson, County Derry, Northern Ireland. The impact of his surroundings and the details of his upbringing on his work are immense. As a Catholic in Protestant Northern Ireland, Heaney once described himself in theNew York Times Book Review as someone who "emerged from a hidden, a buried life and entered the realm of education." Eventually studying English at Queen’s University, Heaney was especially moved by artists who created poetry out of their local and native backgrounds—authors such as Ted Hughes, Patrick Kavanagh, and Robert Frost. Recalling his time in Belfast, Heaney once noted: "I learned that my local County Derry [childhood] experience, which I had considered archaic and irrelevant to 'the modern world' was to be trusted. They taught me that trust and helped me to articulate it." Heaney’s work has always been most concerned with the past, even his earliest poems of the 1960s. According to Morrison, a "general spirit of reverence toward the past helped Heaney resolve some of his awkwardness about being a writer: he could serve his own community by preserving in literature its customs and crafts, yet simultaneously gain access to a larger community of letters." Indeed, Heaney's earliest poetry collections— Death of a Naturalist (1966) and Door into the Dark(1969)—evoke "a hard, mainly rural life with rare exactness," according to Parnassuscontributor Michael Wood. Using descriptions of rural laborers and their tasks and contemplations of natural phenomena—filtered through childhood and adulthood—Heaney "makes you see, hear, smell, taste this life, which in his words is not provincial, but parochial; provincialism hints at the minor or the mediocre, but all parishes, rural or urban, are equal as communities of the human spirit," noted Newsweekcorrespondent Jack Kroll

As a poet from Northern Ireland, Heaney used his work to reflect upon the "Troubles," the often-violent political struggles that plagued the country during Heaney’s young adulthood. The poet sought to weave the ongoing Irish troubles into a broader historical frame embracing the general human situation in the books Wintering Out(1973) and North (1975). While some reviewers criticized Heaney for being an apologist and mythologizer, Morrison suggested that the role of political spokesman has never particularly suited Heaney. The author "has written poems directly about the Troubles as well as elegies for friends and acquaintances who have died in them; he has tried to discover a historical framework in which to interpret the current unrest; and he has taken on the mantle of public spokesman, someone looked to for comment and guidance," noted Morrison. "Yet he has also shown signs of deeply resenting this role, defending the right of poets to be private and apolitical, and questioning the extent to which poetry, however 'committed,' can influence the course of history." In the New Boston Review, Shaun O'Connell contended that even Heaney's most overtly political poems contain depths that subtly alter their meanings. "Those who see Seamus Heaney as a symbol of hope in a troubled land are not, of course, wrong to do so," O'Connell stated, "though they may be missing much of the undercutting complexities of his poetry, the backwash of ironies which make him as bleak as he is bright." 

Heaney’s first foray into the world of translation began with the Irish lyric poem Buile Suibhne. The work concerns an ancient king who, cursed by the church, is transformed into a mad bird-man and forced to wander in the harsh and inhospitable countryside. Heaney's translation of the epic was published as Sweeney Astray: A Version from the Irish (1984). New York Times Book Review contributor Brendan Kennelly deemed the poem "a balanced statement about a tragically unbalanced mind. One feels that this balance, urbanely sustained, is the product of a long, imaginative bond between Mr. Heaney and Sweeney." This bond is extended into Heaney's 1984 volume Station Island, where a series of poems titled "Sweeney Redivivus" take up Sweeney's voice once more. The poems reflect one of the book’s larger themes, the connections between personal choices, dramas and losses and larger, more universal forces such as history and language. In The Haw Lantern (1987) Heaney extends many of these preoccupations. W. S. DiPiero described Heaney's focus: "Whatever the occasion—childhood, farm life, politics and culture in Northern Ireland, other poets past and present—Heaney strikes time and again at the taproot of language, examining its genetic structures, trying to discover how it has served, in all its changes, as a culture bearer, a world to contain imaginations, at once a rhetorical weapon and nutriment of spirit. He writes of these matters with rare discrimination and resourcefulness, and a winning impatience with received wisdom." 

With the publication of Selected Poems, 1966-1987 (1990) Heaney marked the beginning of a new direction in his career. Poetry contributor William Logan commented of this new direction, "The younger Heaney wrote like a man possessed by demons, even when those demons were very literary demons; the older Heaney seems to wonder, bemusedly, what sort of demon he has become himself." In Seeing Things(1991) Heaney demonstrates even more clearly this shift in perspective. Jefferson Hunter, reviewing the book for the Virginia Quarterly Review, maintained that collection takes a more spiritual, less concrete approach. "Words like 'spirit' and 'pure'… have never figured largely in Heaney's poetry," Hunter explained. However, inSeeing Things Heaney uses such words to "create a new distanced perspective and indeed a new mood" in which "'things beyond measure' or 'things in the offing' or 'the longed-for' can sometimes be sensed, if never directly seen." The Spirit Level (1996) continues to explore humanism, politics and nature. 

Always respectfully received, Heaney’s later work, including his second collected poems, Opened Ground: Selected Poems, 1966-1996 (1998), has been lavishly praised. Reviewing Opened Ground for the New York Times Book Review, Edward Mendelson commented that the volume “eloquently confirms [Heaney’s] status as the most skillful and profound poet writing in English today." With Electric Light (2001), Heaney broadened his range of allusion and reference to Homer and Virgil, while continuing to make significant use of memory, elegy and the pastoral tradition. According to John Taylor in Poetry, Heaney "notably attempts, as an aging man, to re-experience childhood and early-adulthood perceptions in all their sensate fullness." Paul Mariani in America found Electric Light "a Janus-faced book, elegiac" and "heartbreaking even." Mariani noted in particular Heaney's frequent elegies to other poets and artists, and called Heaney "one of the handful writing today who has mastered that form as well."

Heaney’s next volume District and Circle (2006) won the T.S. Eliot Prize, the most prestigious poetry award in the UK. Commenting on the volume for the New York Times, critic Brad Leithauser found it remarkably consistent with the rest of Heaney’s oeuvre. But while Heaney’s career may demonstrate an “of-a-pieceness” not common in poetry, Leithauser found that Heaney’s voice still “carries the authenticity and believability of the plainspoken—even though (herein his magic) his words are anything but plainspoken. His stanzas are dense echo chambers of contending nuances and ricocheting sounds. And his is the gift of saying something extraordinary while, line by line, conveying a sense that this is something an ordinary person might actually say.”

Increasingly seen as an “elder statesman” of poetry, Heaney’s prose constitutes an important part of his work. Heaney often uses prose to address concerns taken up obliquely in his poetry. In The Redress of Poetry (1995), according to James Longenbach in the Nation, "Heaney wants to think of poetry not only as something that intervenes in the world, redressing or correcting imbalances, but also as something that must be redressed—re-established, celebrated as itself." The book contains a selection of lectures the poet delivered at Oxford University as Professor of Poetry. Heaney's Finders Keepers: Selected Prose, 1971-2001 (2002) earned the Truman Capote Award for Literary Criticism, the largest annual prize for literary criticism in the English language. John Carey in the London Sunday Times proposed that Heaney's "is not just another book of literary criticism…It is a record of Seamus Heaney's thirty-year struggle with the demon of doubt. The questions that afflict him are basic. What is the good of poetry? How can it contribute to society? Is it worth the dedication it demands?" Heaney himself described his essays as "testimonies to the fact that poets themselves are finders and keepers, that their vocation is to look after art and life by being discoverers and custodians of the unlooked for." 

As a translator, Heaney’s most famous work is the translation of the epic Anglo-Saxon poem Beowulf (2000). Considered groundbreaking because of the freedom he took in using modern language, the book is largely credited with revitalizing what had become something of a tired chestnut in the literary world. Malcolm Jones in Newsweekstated: "Heaney's own poetic vernacular—muscular language so rich with the tones and smell of earth that you almost expect to find a few crumbs of dirt clinging to his lines—is the perfect match for the Beowulf poet's Anglo-Saxon…As retooled by Heaney, Beowulf should easily be good for another millennium." Though he has also translated Sophocles, Heaney remains most adept with medieval works. He translated Robert Henryson’s Middle Scots classic and follow-up to Chaucer, The Testament of Cresseid and Seven Fables in 2009.

In 2009, Seamus Heaney turned 70. A true event in the poetry world, Ireland marked the occasion with a twelve-hour broadcast of archived Heaney recordings. It was also announced that two-thirds of the poetry collections sold in the UK the previous year had been Heaney titles. Such popularity is almost unheard of in the world of contemporary poetry, and yet Heaney’s voice is unabashedly grounded in tradition. Heaney’s belief in the power of art and poetry, regardless of technological change or economic collapse, offers hope in the face of an increasingly uncertain future. Asked about the value of poetry in times of crisis, Heaney answered it is precisely at such moments that people realize they need more to live than economics: “If poetry and the arts do anything,” he has said, “they can fortify your inner life, your inwardness."

Vultures by Chinua Achebe (A Comprehensive Analysis)


Chinua Achebe is a Nigerian writer who would probably be familiar with the sight of vultures, which are scavenging birds, feeding on the carcass of a dead animal. This is the image that he explores in the first section of his poem entitled 'Vultures'. A miserable scene is set with grey weather, and Achebe uses alliteration in the phrase 'drizzle of one despondent dawn' to emphasise the depressing atmosphere. There is no sign of sun at the start of the day, as the phrase 'unstirred by harbingers of sunbreak' tells us (harbinger meaning a sign or announcer).

A pair of vultures are sitting together on the branch of a tree. Achebe uses both alliteration and metaphor in describing the branch as a 'broken bone', and the tree is dead. This reinforces the bleakness of the scene and reminds us that vultures are in the habit of feeding on dead creatures. The first suggestion of gentleness comes when Achebe tells us that the male vulture is 'nestled close to his mate', conveying the feeling that they are fond of each other's company. The description of the male vulture, however, is hardly flattering: 'his smooth / bashed-in head, a pebble / on a stem rooted in / a dump of gross / feathers'. The metaphor of the pebble is appropriate, as the vulture's head is indeed small in comparison to its body, and the adjectives 'dump' and 'gross' emphasise how ugly the bird is. Yet his head is 'inclined affectionately to hers', so the attraction between the pair of vultures is clear to see.

In the next few lines Achebe gives an extremely distasteful description of how the vultures had, the day before, fed on a dead animal. The phrases 'picked the eyes' and 'swollen corpse' are nothing if not disgusting, and Achebe goes on to relate that the birds ate the contents of the animals intestines too. They had then had their fill, or were 'full gorged' as the poet tells us, and settled on a branch. What remained of the corpse is described as a 'hollow remnant' which the vultures observed with 'cold telescopic eyes'. There is no inkling here, at the end of the first section, of any gentleness at all.

In the second section of 'Vultures', Achebe comments on the nature of the love, using personification. He begins with a single word, 'Strange', that attracts attention, appearing on its own in line 22. What Achebe finds strange is that love is usually 'so particular', fussy about appearances perhaps, but in this case exists in a 'charnel house', a building where bodies or bones are stored. This idea marks a shift in the poem's focus, away from the vultures. Achebe observes that love can be found in such a place, where she would tidy a little corner and 'perhaps even fall asleep' there. The second section ends, however, with the remark that if this happened, love's face would be 'turned to the wall', presumably to avoid the sight of skeletal remains.

In the third section of the poem, Achebe identifies the charnel house as Belsen Camp, which was a German concentration camp where many people were gassed during the Second World War. This section of the poem focusses on the Commandant of that camp as he leaves at the end of a day. Achebe's description of him initially stresses the thoroughly unpleasant side: 'with fumes of / human roast clinging / rebelliously to his hairy / nostrils'. The phrase 'human roast' seems particularly odious with its connotations of cooking, and the word 'rebelliously' suggests that the smell refuses go away even after the Commandant has left the camp.

In line 35, Achebe shows a different side to the Commandant, just as he demonstrated the affection between the pair of vultures. He describes how this seemingly repulsive man will stop at a sweet-shop on his way home to buy some chocolate for his children. The children are referred to as 'his tender offspring', and he is their 'Daddy'. Here, Achebe creates a feeling of a loving family; the children are probably blissfully unaware of what their father's work involves. They await his homecoming and he enjoys bringing them a treat at the end of the day.

In the fourth and final section of 'Vultures', Achebe presents us with two alternative conclusions to draw from the behaviour of the vultures and the Commandant. He suggests that we might 'Praise bounteous providence', and the fact that he includes the phrase 'if you will' perhaps infers that this is the alternative he would prefer us to choose. He is asking us to rejoice in the fact that an 'ogre' has 'a tiny glow-worm tenderness', using a metaphor to describe the element of love that lights up, like a glow worm, the Commandant's otherwise despicable life. This love is 'encapsulated / in icy caverns of a cruel / heart': Achebe uses metaphor once again, this time to convey how cold the Commandant's heart is.

The second alternative that Achebe presents us with is one of 'despair'; that we might choose to despair that within the tiny element of love or tenderness we find 'the perpetuity of evil'.

Even though we can see signs of affection and love, we fear that this might always be outweighed by cruelty, hatred or wrongdoing. 'Evil' is the final word of the poem, but Achebe is nevertheless giving us a choice. Do we look for the spark of goodness in a person no matter how repulsive their actions are, or do we overlook the tenderness and focus on the dark, evil side that appears to be dominant? Achebe has taken an example from the past in the Commandant of Belsen Camp, but in describing the habits of the vultures he shows that the existence of love and evil side by side is eternal.

The poem 'Vultures' is not divided into stanzas, but it is clear where one section ends and another begins through the use of ellipsis and the indentation of the first line line of the second, third and fourth stanzas. The poem is in free verse with lines of varying length that flow from one into the next. Although there are fifty-one lines in all, there are only six sentences. Achebe skilfully combines contrasting descriptions within one sentence to give a sense of love and evil existing together rather than separately.

'Vultures' is perhaps not the easiest poem to fathom on first reading, but it is worth taking the time to understand the examples and imagery that Achebe so skilfully presents here. It is up to each one of us to decide whether we wish to recognize and appreciate love or tenderness where it seems to be overshadowed by hatred, or whether we allow ourselves to be disheartened by the evil that finds its way inside every grain of love.

Political Science Second Semester Syllabus


Unit 1: Plato and Aristotle

  •  Plato's Ideas on Ideal State, Communism and Education
  • Aristotle's Views on State and Classification of Constitutions

    Unit 2: Machiavelli and Laski

    • Machiavelli's Ideas on the Prince and State
    • Laski's Views on Rights, Liberty and Equality

      Unit 3: Kautilya, Gokhale and Tilak

      • Kautilya's Views on State Administration
      • Gokhale's Political Ideas
      • Tilak's Political Ideas

        Unit 4: Gandhi and Ambedkar

        • Gandhi's Views on Ideal State / Rama Rajya
        • Ambedkar's Views on Social Justice

          Unit 5: Socialism, Nehru and Narayan


          • Socialism in India
          • Jawaharlal Nehru's Political Views
          • Jayaprakash Narayan's Political Views

          Four Phases of Business Cycle



          Business Cycle (or Trade Cycle) is divided into the following four phases;
          1. Prosperity Phase: Expansion or Boom or Upswing of economy.
          2. Recession Phase: from prosperity to recession.
          3. Depression Phase: Contraction or Downswing of economy.
          4. Recovery Phase: from depression to prosperity.

          Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 

          Inflation



          The term ’inflation’ is used in many senses and it is difficult to give a generally accepted, precise and scientific definition of the term. Popularly inflation refers to a rise in price-level or fall in the value of money. Kemmerer states that,” inflation is too much currency in relation to the physical volume of business being done”.

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          Types of Inflation

          There are several types of inflation observable in an economy. These can be classified as under: 

          1. Creeping, Walking, Running, and Galloping Inflation: 

          This classification is made on the basis of the” speed” with which the prices increase in the economy. 


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          Effects of Inflation

          A period of prolonged, persistent and continuous inflation results in the economic, political, social and moral disruption of society. The effects of inflation can be discussed under two sub-heads;
          1. Effects on production 
          2. Effects on distribution 

          Effects on Production: 

          The phenomenon of inflation produces a very deep impact on the production of wealth in the economy. Inflation may not always be detrimental to production. Mild inflation may actually be good for the economy, particularly, when there are unemployed productive resources in the country. An expansion of money supply in an underdeveloped economy will result in a slow and gradual rise in the prices. The production costs in such an economy do not increase in the same proportion as the prices with the result that the profit margins of the businessmen continue to increase, creating optimistic conditions in the economy. Thus, an expansion of money supply up to the point of full employment may not be harmful for the economy. But, any expansion of money supply after the point of full employment may not be harmful for the economy. But any expansion of money supply after the point of full employment will degenerate into runaway or hyper-inflation and, hyper-inflation is very harmful for the economy. It creates business uncertainty which is not good for production.

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          Control of Inflation

          The measures to control inflation can be divided into: 

          I. Monetary Measures: 

          These measures are adopted by the central bank of the country and include such steps as an increase in re-discounted rates, sale of government securities in the open market, an increase in reserve ratios and adjustments in selective controls to arrest an inflationary credit boom. Each of these steps has its own limitations though it can be said that monetary measures are more effective in checking inflation than curbing a depression.

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          Causes of Inflation

          Following are the factors which cause an increase in the size of demand: 

          1. Increase in Public Expenditure: 

          An increase in public expenditure, consequent upon the outbreak of war or development planning, invariably, causes an increase in the demand for goods and services in the economy. In fact, this is an important cause giving rise to the emergence of excess demand in the country.


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          Effects of Deflation

          Deflation affects the entire economic life of the country. The different sections of society are affected in the following manner. 

          (1) Producers and Traders: 

          Deflation adversely affects both the producers as well as the traders. The producers are adversely affected on three counts 
          1. The production costs at a time of deflation do not fall as rapidly as the prices of the finished product. 
          2. Whenever a producer buys raw-materials etc, for the purpose of production, he has to pay a higher price for it when the finished product reaches the market, the prices of raw-materials will have fallen still further and the producer will be compelled to sell his product at a reduced price.
          3. The demand for commodities also goes down at a time of deflation. 

          Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 

          Deflation

          Deflation is the opposite of inflation. In the words of Prof. Crowther,”deflation is the state of the economy where the value of money is rising or the prices are falling”. 

          This definition is not free from defects. From this definition, it appears that every fall in the price-level is deflation but actually this may not be so. Sometimes the price-level starts falling down without any contraction in the supply of money. Now such a fall in the price-level cannot be called deflation.


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          Stock and Flow Concept

          Stock refers to a quantity of a commodity accumulated at a point of time. The quantity of the current production of a commodity which moves from a factory to the market is called flow. 

          The aggregates of macroeconomics are of two kinds some are stocks, typically the stock of capital ’k’ which is a timeless concept. A stock is always specified to a particular moment. Other aggregates are a flow concept, such as income, output, consumption and investment. A flow variable has the time dimension, it specified per unit of time.

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          Supply Side Economics


          The problem of stagflation encountered by USA and UK during the seventies and early eighties when both high inflation and high unemployment prevailed simultaneously did not admit for easy solution through the Keynesian demand management policies, it only worsened the situation. 

          Against this backdrop, the alternative school of thought, about macroeconomics laid stress on Supply Side of macroeconomic equilibrium, that is, it focused on shift in the aggregate supply curve to the right rather than causing the shift in the aggregate demand curve. Thus Supply side economics prefers to solve the problem of stagflation through the management of aggregate Supply rather than the management of aggregate demand. Further Supply Sides economics stresses the determinants of long run growth instead of causes of short run cyclical movement in the economy. Supply Side economists laid emphasis on the factors that determine the incentives to work, save and invest, which ultimately determine the aggregate supply of the output of the economy.

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          Rational Expectation Theory (RATEX)

          Meaning:

          New classical economics based on rational expectation hypothesis was put forward by Robert Lucas of the University of Chicago. Rational Expectation theory which is the corner stone of recently developed macro-economic theory, popularly called new classical macroeconomics. Friedman’s adaptive expectation theory assumes nominal wages lag behind changes in the price level. This lag in the adjustment of nominal wages to the price-level brings about rising business profits which induces the firms to expand output and employment in the short run, and leads to the reduction in unemployment rate. But according to the Ratex theory, there is no lag in the adjustment of nominal wages consequent to rise in price level. The advocates of this theory further argue that nominal wages are quickly adjusted to any expected changes in the price level. According to the Ratex theory, as a result of increasing aggregate demand, there is no reduction in unemployment rate, the rate of inflation resulting from increasing aggregate demand is fully and correctly anticipated by workers and business firms and get completely and quickly incorporated into the wage agreement resulting in higher prices of products.

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          Inflationary Gap


          In his pamphlet,’ how to pay for the war ‘published in 1940, Keynes explained the concept of ‘inflationary gap’. It differs from his views on inflation given in the general theory. In the general theory, he started with underemployment equilibrium, but in how to pay for the war, he began with a situation of full employment in the economy. He defined an inflationary gap as an excess of planned expenditure over the available output at pre-inflation or base prices. According to Lipsey,’ the inflationary gap is the amount by which aggregate expenditure would exceed aggregate output at the full employment level of income’. The classical economists explained inflation as mainly due to increase in the quantity of money, given the level of full employment. Keynes, on the other hand, ascribed it to the excess of expenditure over income at the full employment level. The larger the aggregate expenditure, the larger the gap and the more rapid the inflation will increase. Given a constant average propensity to save, rising money incomes at full employment level would lead to an excess of demand over supply and to a consequent inflationary gap. Thus Keynes used the concept of the inflationary gap to show the main determinants that cause an inflationary rise in prices.

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          Monetary Policy

          Monetary policy refers to the credit control measures adopted by the central bank of a country. Johnson defines monetary policy ,” as a policy employing central bank’s control of the supply of money as an instrument for achieving the objectives of general economic policy”. G.K Shaw defines it as, “ any conscious action undertaken by the monetary authority to change the quantity , availability or cost of money”. 

          Objectives: 

          The broad objectives of monetary policy are to establish at full employment level of output, to ensure price stability and to promote economic development of the economy. Monetary policy is concerned with changing the supply of money stock and the rate of interest for the purpose of stabilizing the economy at full employment or potential output level by influencing the level of aggregate demand.

          Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 

          Fiscal Policy

          Meaning of Fiscal Policy: 

          Fiscal Policy may be defined as that part of governmental economic policy which deals with taxation, expenditure, borrowing and the management of public debt in an economy. It is an indispensable instrument of modern public finance. The importance of fiscal policy has greatly increased in modern times, both in the developed as well as the underdeveloped countries of the world. In developed countries, fiscal policy is being increasing used as an instrument to achieve full employment and economic stability. In underdeveloped countries, on the contrary, fiscal policy is more and more being used as a means to step up the rate of economic growth. Fiscal policy primarily concerns itself with the flow of funds in the economy. Taxation diverts the funds from the private sector to the governmental sector. Public expenditure on the contrary, diverts funds from the governmental sector back to the economy. Public borrowing, like taxation also diverts funds from the private sector to the governmental sector, but the two diversions influence the private sector in different ways. Management of public debt includes functions, such as, floating of governmental loans, payment of interest thereon and retirement of matured debts. Fiscal policy, thus, exerts a very powerful influence on the working of the national economy. It directly affects the volume of output, income and employment in the economy. The greater the percentage of national income and expenditure represented by the governmental budget, the greater would be the influence of fiscal policy on aggregate economic activity.

          Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 

          Module 01: Question Bank

          Two Marks Questions:

          1. Define macroeconomics. 
          2. Give any four concepts of macroeconomics. 
          3. State any two importance of Macroeconomics. 
          4. What is unemployment? 
          5. What is an economic policy? 
          6. Name any four economic problems in an economy. 
          7. Define National Income. 
          8. Define economic growth. 
          9. Define economic planning. 
          10. What is business cycle? 
          11. Define stagflation. 
          12. Mention the two functions of investment. 
          13. Mention any four central issues of Macro economics. 
          14. What is Fallacy of composition? 
          15. State any four limitations of macro economics. 
          16. What is an exchange rate? 
          17. What is surplus balance of payments? 
          18. What is deficit balance of payments? 
          19. State the types of Macro economics. 
          20. What is macro statics? 
          21. What is Macro dynamics? 
          22. What is comparative macro statics? 
          23. Mention any two concepts of National Income. 
          24. What is NNP? 
          25. What is depreciation? 
          26. What is Personal Income? 
          27. What is disposable personal income? 
          28. What is Per capita income? 
          29. State the methods of measuring National Income. 
          30. State any two difficulties in the estimation of National Income. 
          31. State any two importance of National Income analysis. 

          Five Marks Questions:

          1. Define Macroeconomics and discuss its nature. 
          2. Describe the importance of Macro economics. 
          3. Discuss any four central issues of macro economics. 
          4. Describe the subject matter of macro economics. 
          5. Describe any four limitations of macro economics. 
          6. Describe macro statics. 
          7. Describe macro dynamics. 
          8. Describe comparative macro statics. 
          9. Discuss Macro statics v/s Macro dynamics. 
          10. Describe any four concepts of National Income. 
          11. Describe any two methods of calculating the National Income. 
          12. Describe the difficulties in measuring the national income. 
          13. Describe the importance of national income analysis. 

          Ten Marks Questions:

          1. Describe the central issues of macro economics. 
          2. Describe the limitations of macro economics. 
          3. Describe the types of macro economics. 
          4. Describe the concepts of National Income. 
          5. Describe the methods of measurement of the National Income.

          Business Cycles


          An important feature of the working of a capitalist economy is the existence of alternating periods of prosperity and depression generally referred to as a ‘business cycle’ or ‘trade cycle’. In a business cycles there are wave like fluctuations in aggregate employment income, output and price-level. The term business cycle has been defined in various ways by different economists. 


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          Phases of the Business Cycle

          1. Recovery: 

          We start from a situation when depression has lasted for some time and revival phase or the lower-turning points starts. The ‘originating force’ or ‘starters’ may be exogenous or endogenous forces. Suppose the semi-durable goods wear out which necessitates their replacement in the economy, it leads to increased demand investment and employment increase. Industry begins to revive. Revival also starts in related capital goods industries.

          Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 
           
          Fathimath Sama
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