Major · Economics · Semester 6 · TY BA · 4 credits · 100 marks · 60 hours
Module 1: Public Finance and Macroeconomic Stability (15 Hours)
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Role of government in the economy - Public Revenue - Tax and non-tax revenue - Direct and indirect taxes - Public Expenditure - Types and importance - Public Debt - Meaning, sources and burden of public debt. Fiscal Deficit and Budgetary Imbalances - Revenue deficit, fiscal deficit, primary deficit. Fiscal Responsibility and Budget Management (FRBM) Act 2003.
Module 2: Indian Macroeconomic Structure and Reforms (15 Hours)
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Macroeconomic issues in India – Inflation, unemployment, poverty and inequality. - Economic Reforms since 1991 - Liberalisation, Privatisation and Globalisation (LPG) - Macroeconomic Impact of Reforms - Growth, employment, inflation and external sector - Role of NITI Aayog and Planning in India - Recent Macroeconomic Challenges in India.
Module 3: Global Macroeconomics and Interdependence (15 Hours)
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Globalisation and Macroeconomic Interdependence: Trade, capital flows and global production - International Financial Institutions - IMF, World Bank and WTO: roles and relevance - Global Financial Crises - Causes and macroeconomic consequences.
Module 4: Emerging Economies and Contemporary Macroeconomic Issues. (15 Hours)
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Macroeconomics of Emerging Economies - Challenges of capital flows and exchange rate volatility - Contemporary Macroeconomic Issues - Digital economy and macroeconomic measurement - Climate change and sustainable growth. - COVID-19 and macroeconomic policy response.
References
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1
Blanchard, Oliver (2008), Macroeconomics, Pearson Education, New Delhi, India.
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2
Dornbusch, Fisher and Startz (2018): Macroeconomics, McGraw Hill Education (India) Pvt. Ltd.
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3
Mankiw N Gregory (2003), Macroeconomics, 6" edition, Worth Publishers, New York.
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4
Patil J. F (2005, Marathi Edition), Macroeconomic Analysis, Phadke Prakashan, Kolhapur.
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5
Rana K. C. & Verma K.N (2017), International Economics, Vishal Publishing CO. Jalandhar.
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6
Salvatore D. (1997), International Economics, Printice Hall, New York.
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7
Datt, R. & Sundharam, K.P.M., Indian Economy, S. Chand.
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8
Misra, S.K. & Puri, V.K., Indian Economy, Himalaya Publishing House.
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9
Jhingan, M.L., Advanced Economic Theory: Macroeconomics, Vrinda Publications
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10
Musgrave, R.A. & Musgrave, P.B., Public Finance in Theory and Practice, McGraw-Hill.
