Major · Economics · Semester 4 · SY BA · 4 credits · 100 marks · 60 hours
Module 01: POST KEYNESIAN ECONOMICS (15 Hours)
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Introduction to the Keynesian and post-Keynesian approaches: Difference between Keynesian and post-Keynesian approaches, the relevance of post-Keynesian economics in contemporary policies. Goods market: Derivation of IS curve, slope, and shifts Money market: Derivation of LM curve, slope, and shifts, IS-LM equilibrium.
Module 02: UNEMPLOYMENT AND INFLATION (15 Hours)
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Inflation: Meaning, types, causes of demand pull and cost push inflation, effects. Phillips curve: Trade-off between wages and unemployment rate in the short run and long run. Stagflation and supply-side economics: Causes of stagflation and consequences, prepositions of supply-side economics and Laffer curve.
Module 03: MACRO-ECONOMIC POLICIES (15 Hours)
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Monetary policy: Meaning, objectives, instruments, credit controlling techniques and role in developing countries, Limitations. Fiscal policy: Meaning, objectives, Instruments, and role in developing countries, Limitations. Policy effectiveness: Impact of Monetary and Fiscal policies.
Module 04: EXTERNAL SECTOR (15 Hours)
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Foreign Exchange Market: Importance of foreign exchange and exchange rate, Components of foreign exchange reserves, Different systems of exchange rate determination, Determination of Exchange Rate: Fixed and Flexible Exchange Rate; Spot and Forward Exchange Rate; Exchange Rate Policy of India. Balance of Payment: Structure, Disequilibrium in Balance of Payment, Types, Causes, and Measures to Correct Balance of Payment Disequilibrium. India’s Balance of Payment.
References
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1
14Abel A.B.B.S. Beranake and D. Croushore (2013), Macro Economics, Pearson, New Delhi.
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2
Ahuja H.L. (2008), Macro Economics theory and policy, S. Chand and Company Ltd. New Delhi.
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3
Dombusch Rudiger, Fischer, Stanley and Startz, (2017) (Indian Edition), Macro Economics Delhi; Mcgrow Hill Publication.
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4
Dwivedi D.N. (2007), Macro Economics theory and policy, Tata Mcgrow- Hill Publication Company Ltd. Delhi.
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5
Errol D’Souza (2009): Macroeconomics, Pearson Education Asia, New Delhi.
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6
N. Gregory Mnakiv, (2015), Principle of Macro Economics, 7th Edition, Cengage Learning.
