Features of Course

Recorded lectures

Quick Doubt Resolution

Complete syllabus covered

Assignments

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SYLLABUS

A. Abel, B. Bernanke: Macroeconomics, 9th ed., Pearson Education (2016) 2. O. Blanchard: Macroeconomics, 7th ed., Pearson Education (2018) 3. R. Dornbusch, S. Fischer, R. Startz: Macroeconomics, 12th ed., McGraw-Hill (2018) 4. C. Jones: Macroeconomics, 4th ed., W. W. Norton (2016) 5. N. Mankiw. Macroeconomics, 9th ed., Worth Publishers (2016)

Unit 1 Introduction to macroeconomics and national income accounting

Basic issues studied in macroeconomics: Measurement of gross domestic product; income, expenditure and the circular flow; real versus nominal GDP; price indices; national income accounting for an open economy; balance of payments: current and capital accounts

Unit 2 Money

Functions of money; quantity theory of money; determination of money supply and demand; credit creation; tools of monetary policy

Unit 3 Inflation

Inflation and its social costs; hyperinflation

Unit 4 The closed economy in the short run

Classical and Keynesian systems; simple Keynesian model of income determination; IS-LM model; fiscal and monetary multipliers.