Coming soon
Intermediate Macroeconomics - II
1. To understand the different views on Output, Inflation and Unemployment
2. To examine the Mundell Fleming model and its policy implications.
3. To comprehend different models of economic growth like Harrod-Domar and Solow models.
Natural Rate Theory; Friedman’s view on Monetary Policy, output and inflation- Phillips Curve; Keynesian interpretation of Phillips curve.
Active or passive; monetary policy objectives and targets; rules versus discretion: time consistency; the government budget constraint; government debt and Ricardian equivalence.
Concept and Phases of Trade Cycle, Theories of Trade Cycle- Kaldor’s Theory , Samuelson’s Multiplier-Accelerator Model and Hicks Theory.
Mundell Fleming model of a small open economy under perfect capital mobility with fixed and flexible exchange rates regimes, analysis of effectiveness of monetary, fiscal and trade policies.
Harrod-Domar model; Solow model; golden rule; technological progress and elements of endogenous growth.
1. Froyen, R. T., Macroeconomics- Theories and Policies Pearson Education, 10th Edition, 2018.
2. Ahuja, H.L., Macroeconomics: Theory and Policy S. Chand., 20th Edition, 2019.
1. Case K. E., Ray C. F. et al., Principles of Economics Pearson Education Inc., 12th Edition, 2017.
2. Dornbusch, R. et al. Macroeconomics McGraw Hill, 12th Edition, 2018.
3. Mankiw, N. G.,Macroeconomics, Worth Publishers, 10th Edition, 2019.
4. Branson, W. H. Macroeconomics: Theory and Policy, East West Book Pvt Ltd., 3rd Edition, 2005.
5. Jones, C. I, Vollrath, D., Introduction to Economic Growth, W.W. Norton & Company.3rd Edition, 2013.
