Two Year Programme

Course Specifications: Macroeconomics

Program 2-YEAR PGPM Area Economics
Course Macroeconomics Code ECO 2201
No of hours 30 Duration of session 75 minutes
Credit 1 No. of sessions 24
Term 2 Start Date TBD
Pre-requisite Co-requisite NA
Number of Students All
Lead Faculty Ms Mona Bhalla Other Faculty
Guest Faculty

Module Objective:

Macroeconomics is the study of the economy as a whole. The module has been designed to make
macroeconomics understandable and relevant. The module includes various case studies and uses
macroeconomic theories and models to shed light on real-world data or events. The module integrates the
insights of classical and Keynesian theories and also includes contemporary topics like growth models real
business cycle theories.

Learning Objectives:

• To develop breadth of understanding of the subject.

• To develop analytical and critical skills.
• To help students become independent learners.
• To help students to apply macroeconomic models to real world situations.

Curriculum Refer to Annexure 1

Summary of Sessions Refer to Annexure 2
Text Book Macroeconomic, N.G.Mankiw, Worth Publishers
Added Reading Refer to Annexure 3
Resource Requirement ●Staff: RA, Faculty members, Guest Faculty
●Library: Books & Periodicals, Online Journals

Assessment Refer to Annexure 4

 Annexure 1
Curriculum and Delivery

Session Activity Faculty

S.NO Subject Topic
No. Structure
Introduction to
Macroeconomics
• What macroeconomists
study
Lecture
1 1 Macroeconomics • Circular flow Of Income Mona Bhalla
Discussion
• Measuring the cost of
living(Consumer Price
Index)
• The unemployment rate
The Classical Theory:
Economy in the Long Run
• National Income
generation and Lecture
2 2-7 Macroeconomics distribution Mona Bhalla
Discussion
• Money and Inflation
• The Open Economy
• Unemployment
Growth Theory: Economy
in the very long run
• The golden rule level of
capital(concept of Lecture
3 8-11 Macroeconomics Mona Bhalla
steady state) Discussion
• Solow Growth Model
• Endogenous Growth
Theory
4 12-19 Macroeconomics Business Cycle Theory: Lecture Mona Bhalla
The Economy in the short Case Studies
run Brain storming
• Introduction to
economic fluctuations
• The Keynesian Cross
Model
• The goods market-IS
Curve
• The money market-LM
Curve
 • IS-LM as a theory of
aggregate demand
• Role of monetary and
fiscal policy
• The Great Depression
• Aggregate Demand in
the open economy
(Mundell-Fleming
Model)
• Models of aggregate
supply
• Inflation,
Unemployment and the
Philips Curve

Macroeconomic Policy
Debates

• Stabilization Policy
• Active or Passive Policy
Lecture
• Rule vs discretion
5 20-21 Macroeconomics Discussion Mona Bhalla
• The traditional view of Case Studies
government debt
• The Ricardian view of
government debt
• Other perspective on
government debt
Money Supply and Money
Demand
• Fractional reserve
banking
• A model of the money
supply
Lecture
6 22-23 Macroeconomics • Instrument of monetary Mona Bhalla
Discussion
policy
• Portfolio theory of
money demand
• The Baumol-Tobin
model of cash
management
7 24 Macroeconomics Business Cycle Theory Lecture Mona Bhalla
• The theory of real Discussion
 business cycles
• New Keynesian
economics
 Annexure 2
Summary of Sessions

Lecture/Case
Total
Topic\ Mode Study/Student Seminar Project
Presentations
Introduction 1 1
Classical Theory 6 6
Growth Theory 4 4
Keynesian Theory 8 8
Policy debates 2 2
Money supply and
2 2
demand
Business Cycle
1 1
Theory

Total 24 0 0 24
 Annexure 3
Suggested Reading
Prescribed Textbook
1. Macro economics - N.Gregory Mankiw, Worth Publishers

Additional Reading
1. Macroeconomics: Theories and Policies- Richard T. Froyen, Pearson Education
2. Macroeconomics: Dornbusch,Fischer, Startz, Tata McGraw Hill

3. Macroeconomics: Theory and Policy – D N Dwivedi , McGraw Hill

4. Macroeconomics: O. Blanchard, Prentice Hall

 Annexure 4

ASSESSMENT
MODE OF MARK
FREQUENCY FOCUS AREAS
ASSESSMENT DISRIBUTION
Testing of understanding
INTERNAL(Durin Written Test/ Oral
Once in two of the course,
g the term) Test/ Quiz/ 40
weeks Attentiveness in class,
Assignments
Regularity of work

End Term 50
Employability 10
GRAND TOTAL 100