Features of Course

Recorded lectures

Quick Doubt Resolution

Complete syllabus covered

Assignments

E-Notes

Access 6 months or exam whichever earlier

Fees - Rs 4,500

Reference Books

1. A. Abel, B. Bernanke: Macroeconomics, 9th ed., Pearson Education (2016)

2. O. Blanchard: Macroeconomics, 7th ed., Pearson Education (2018)

3. W. Branson: Macroeconomics: Theory and Policy, 3rd ed, East West Press (2013)

4. R. Dornbusch, S. Fischer, R. Startz: Macroeconomics, 12th ed., McGraw-Hill (2018)

5. C. Jones: Macroeconomics, 4th ed., W. W. Norton (2016)

SYLLABUS

Unit 1

The labor market

Wage determination; wages, prices and employment; natural rate of unemployment; from employment to output

Unit 2

Aggregate demand and aggregate supply curves

Derivation of aggregate demand and aggregate and supply curves; interaction of aggregate demand and supply to determine equilibrium output, price level and employment

Unit 3

Inflation, unemployment and expectations

Phillips curve; adaptive and rational expectations; policy ineffectiveness debate

Unit 4

Microeconomic foundations

Consumption: Keynesian consumption function; Fisher‘s theory of optimal intertemporal choice; life-cycle and permanent income hypotheses; rational expectations and random-walk of consumption expenditure Investment: determinants of business fixed investment; residential investment and inventory investment Demand for money