No.

of Sessions

Topics Covered Introduction to Economic Analysis: Microeconomics Vs. Macroeconomics, Goals of Macroeconomic policy, Objectives and Instruments of Macroeconomics. Measuring National output / Income: Concept of national product, Variants of national product.

Identified Cases 1. Chinese StateOwned Enterprises: Redefining the Role of Government in Business. 2. Irish Economy: A Case of Turbulent Economy. 3. National Income Accounting: A Case Study of China, 4.Bhutans Gross National Happiness: An Economic Reality or Wishful Thinking?

Readings

Sources

Dates

CDC

2,3,4,5 Methods of measuring national Income and problems of measuring, Real Vs Nominal, Price indices and its applications. Aggregate Demand and Aggregate SupplyMeaning of AD and AS curves. Determination of Equilibrium IncomeComponents of aggregate Demand, Consumption function, Marginal propensity to Consume, Determinants of Consumption, Saving function, Investment function, Determinants of Investment, Government spending, Net exports. Product market Shifts in AD, Concept of multiplier - simple multiplier, investment multiplier, multiplier in the presence of taxes and balanced budget,

CDC

5. Inflation Measures: CPI or WPI?

Technical Notes

6. The Economics of Savings. 7. Business Confidence? Very High; Consumer Spending? Very Low: How to get The German Consumer to Spend more?

7,8,9,10

CDC

8. U.S Financial Crisis: Is Keynesian Economics Still Relevant?

11,12

13,14

15

16

17

18,19

foreign trade multiplier Money market Functions of money, Demand for money and supply of moneyDetermination of interest rates, Real vs. nominal interest rate, Hicks Hansen Model: IS LM analysis, Deriving aggregate demand curve Labour market Demand function for labour, supply function of labour, Labour market equilibrium under classical and Keynesian models, Deriving the AS curve. General equilibrium using AD curve and AS curve Economic Instability and Fluctuations: Business Cycles: Features of business cycle, Factor affecting phases of business cycle. Unemployment: Types of unemployment: Okuns Law, Impact of unemployment Price Instability: Types of inflation, Economic impacts of inflation, Price in the AD-AS framework, The Phillips Curve.

9. Demand for and Supply of Money: A Case of India

CDC

Technical Notes

CDC

Technical Notes

Technical Notes

10.The French 35hours Workweek

CDC

11. Hyperinflation in Zimbabwe: Robert Mugabe Thrives, Economy Suffers. 12. U.S Financial Crisis: Is Great Depression II in the Making? 13.Monetary Policy: Hungary vs. Poland

CDC

20,21,22

Monetary policy and the role of banking systems- Deposit creation, Balance sheet of a central bank, Measures of monetary

CDC

23,24,25

and liquidity aggregates, Money multiplier, Instruments of money supply control, Determination of money supply Fiscal policy - Fiscal instruments, Tax structure, Laffer curve, Types of deficits, Fiscal policy and stabilization, Public debt, Crowding out effect.

14. Gordon Browns Fiscal Management. 15. Ireland: Turn around by Tax Policy. 16. Fiscal Policy India and Canada 17. Trade Deficit, Current Account Deficits and Exchange Rates in U.S.: The Policy Implications for India. 18. The Doha Round and the WTO Cancun Ministerial Conference. 19. The Indian Rupee-US Dollar Exchange Rate: The Economic Impact of a Strengthening Currency. 20. The Indian Economy: Dealing with Inflation. CDC CDC

26,27

Open Economy Framework: Theories of International Trade, Issues related to tariff, Determination of Exchange Rate, Floating exchange rate, Fixed exchange rate, Balance of Payments. Globalization and Global imbalance.

CDC, ICMR

28,29

30

Business Environment in Indian contextGrowth phases, Evolution of institutional framework - emphasis on planning, public and private sector Contemporary issues in Indian macroeconomic management: Monetary, fiscal, foreign trade and technology.

21. Burgeoning Indian Economy: Signs of Overheating?

CDC, ICMR