Standardized Outline for Courses

Part A: Basic Details

Name of Course Macroeconomic Theory and Policy

Course Instructor(s)
(please provide email id)
Academic Associate(s)
(please provide email id)
Prof. Vishwa Ballabh/ Prof. PC Padhan
Ms. Shipra Das (shipra@xlri.ac.in)/Ms shireen
Akhtar(shireen@xlri.ac.in) Ms Rosalyn A. (rosalyn@xlri.ac.in)

Area Economics Area

Program BM/HRM/FPM

Term II

Type of Course
Core
(Core/Elective/Workshop)

Number of Credits 3

Number of Classroom Contact

30 hrs.
Hours
Course Pre-requisites (if any,
including cut-off grades in Managerial Economics
specific core courses)
Text Recommended by the course faculty plus notes and
Course Textbook additional reading material provided by the course faculty .

Course Handout to be Provided

Yes
(Yes/No)
No. of Sessions to be taken by
NIL
Guest Faculty
Name of Guest Faculty (if
NIL
identified)

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 Standardized Outline for Courses

Part B: About the Course

Course Description Fundamental shift is occurring in the business environment all over
the world and no nation can remain self-contained entities. Even if
a company does not do nor conduct business internationally, one
need to be concerned about the business development around the
world as they may directly affect its own business. Thus, companies
today operate in two environments: domestic and international, in
which business managers must operate. How well they perform in
their undertakings will depend in great measure on their
understanding of these three environments. This course is designed
to help students understand and analyse macro-economic
environment in which business unit operates. The basic premise of
the course is macroeconomic theories and policy instruments and
their implications in understanding macroeconomic environment of
a nation/state in which business units operates.

Overall this course would make an attempt that students are able to
comprehend the economic environment in which business
operates. Every business enterprise is located in complex economic
environment. Understanding the business environment will help the
student to make better managerial decisions related to his/her
enterprises and also help them decide better competitive strategy.
The excellence in decision making cannot be achieved unless one
understands business environment more particularly economic
environment. The business entity faces variety of internal or
external economic socks. A good business decision maker should
not only have capacity to understand and analyses it but also should
have capacity to anticipate and forecast better future strategic
business decisions. Thus, the primary objective of the course is to
help students comprehend various economic aggregates and
variables and help them understand their relationship in national
and international context.
Course Objectives 1. To sensitize students, need for understanding of
macroeconomic theories and policies;
2. To help students analyse complex economic environment,
macroeconomic policies and its implications for business
strategy in emerging environment; and
3. To equip students, understand open economy macroeconomics,
foreign trade, competitiveness and productivity and strategic
trade theories and policies.

Who is the course BM/HRM/FPM

suitable for? (for
electives only)

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 Standardized Outline for Courses
Part C: AOL Mapping
Learning Objective
Decision Making
Quest for Excellence
Sustainability
Global Mindset
Please indicate the rationale
for choosing the specific
learning goal(s) for this course
Relevance for Course (put a tick)
Response: This course will help the students to understand
how the economy as a whole work, its problems, issues and
role of policy makers in solving the problem. For example, how
2007-09 global economic crisis occurred (global mindset), how
industry were affected and some did well then others (quest
for excellence) and how the economy as a whole recover and
what way it affected business enterprises( decision making).
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Session
Session Topic
No(s)
1. Introduction to the course
on Macroeconomic Theory
and Policy
2 Measurement of Economic
Activity
3-4 Business Cycle and concern
of Macro-Economics
5-7 Demand side
macroeconomics and role
of Government in
Economic Management
8-10 Understanding the financial
system, role of money and
interaction of Goods and
financial market
11 Understanding of the labor
market
12-13 Issues related to
Unemployment and
Inflation
Standardized Outline for Courses
Session Plan*
Learning Objectives
Visualization/ Decision Making,
understanding the complexity of
environment in which business
decision are made
-do-
Visualization of economic
environment and its
consequences/short/medium/long
run macroeconomics
Visualization of Business problem
developing and understanding
Macro economic theory
Visualization about the role of
money in economy and
regulations.
Decision making and visualization
of the problem
Decision Making –How inflation
distort decision
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Chapters from Course Pedagogy (Case Studies/in-class
Textbook and Reading exercise/questionnaire/presentations)
Material other than Case
Studies
Specified chapter from the Lecture notes /cases/ class activities
textbook and reading
materials provided by the
course faculty.
Do Lecture notes and class activities
Do Discussion based class on the
Foundation of Macro-Economic Models
AS/AD (Two reasons for economic
fluctuation)
Do i) Discussion based on chapter
relevant chapter
ii) Discussion based on economics
survey, budget of previous years.
Do Discussion based on relevant chapter
and Cases.
Do Discussion based on prescribed chapter
Do Discussion based on prescribed
chapters with examples /
Cases
 Standardized Outline for Courses

14-15* Issues with fiscal deficit, Visualization of the problem do Discussion based on prescribed
  debt burden and, debt Decision making chapters with examples /
crisis Cases

14-15* The role of saving, How the business Do Discussion based on the chapter,
investment, capital environment shift over understanding the role of capital &
formation and technology period technological change in economic
in economic growth Decisions Making development and change in decision
making environment.
16-19 Open economy- Global Mindset Do Chapter based discussion, flow of
Macroeconomics Decision Making capital and goods, interest and
International Trade, Visualization of international exchange rates and their impact on
Balance of Payment, business environment business.
Exchange Rate
management
20 Summary and Discussion Decision Making Do Presentation and discussion-based
on the course Economic environment project prepared by the students.
Global Mindset

Note: - The course instructor may modify the sequence of topics or coverage based on initial experience and the mid-course review.

* indicates optional topics at the discretion of faculty.

For Attendance Norms please refer to section 10 of the Student’s Manual.

For Evaluation and Grading Norms refer to sections 20, 21 and 22 of the Student’s Manual.

For Disciplinary Action refer to sections 26 and 27 of the Student’s Manual.

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 Standardized Outline for Courses

Details of Evaluation Components:

Evaluation Module Yes/N Weightage for the PLO sub-dimension measured Average Number of Hours
o Evaluation of Work Outside
Component1 Classroom2
Mid-Term/Quizzes Yes Total of 50% to 70% Visualization of problem and decision making 40-60 hrs. of study for class
(Weightage on preparation and
individual quizzes as examinations
per faculty
discretion)
End-Term Yes 30% to 40% Decision making and global mindset. 10 hrs. of examination
(Weightage as per Understanding the concept and theories. preparation
faculty discretion) Visualization, decision making, and global
mind set
Thesis assignment, class Yes 0% to 20% Global mindset, decision making. 0-20 hrs. of preparation
participation, Presentation (Weightage as per
at the discretion of the faculty discretion)
course faculty

Note for the faculty (to be removed before uploading as this is not a part of the course outline format):

1. As per the policies of the institute, the maximum weightage for any evaluation module shall not exceed 40%. Further, the end term shall have a
minimum weightage of 30%
2. As per the policies of the institute, the total contact hours per course for a student is in ration 30:70 (classroom contact hours: outside of classroom
contact hours). You are requested to ensure that your course evaluation retains the same proportion.

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