Introductory Macroeconomics

Paper Code: 
ECO 211
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 
  1. To introduce the students to the basic concepts of macroeconomics.
  2. To appraise the student with preliminary concepts associated with the determination and measurement of aggregate macroeconomic variables.
  3. To describe the working of Central and commercial banks. 

 

Course Outcomes (COs):

Course

 Outcome (at course level)

Learning and teaching strategies

Assessment Strategies 

Paper Code

Paper Title

ECO 211

Introductory Macroeconomics

CO15: Students will describe the various concepts of macroeconomics related to national income accounting.

CO16: Students will analyze the balance sheet of commercial banks.

CO17: Students will comprehend the concepts related to money demand & supply and inflation.

 

Approach in teaching: Interactive Lectures, Discussion,  Case studies.

 

Learning activities for the students:

Presentations, Assignments and Group discussions.

Class activity, Assignments and  Semester end examinations.

 

9.00
Unit I: 
National Income Accounting

  National income and related aggregates, methods of measuring national income, circular flow of income model; real versus nominal GDP.                                                      

 

 

 

 

9.00
Unit II: 
Money

Functions and classification of money; Quantity theory of money – Classical, Cambridge and Keynesian approach.

 

 

 

9.00
Unit III: 
Commercial Banks

Commercial banks – balance sheet, functions and credit creation.

9.00
Unit IV: 
Central Bank

Central Bank - Functions and instruments of credit control.

 

 

 

 

9.00
Unit V: 
Inflation and Deflation

Inflation - definition, types, causes, effects and measures to control; Trade-off between inflation and unemployment; Deflation; Inflation versus Deflation.

Essential Readings: 
  • Dornbusch, Fischer and Startz, Macroeconomics, McGraw Hill, 11th edition, 2010.
  • N. Gregory Mankiw. Macroeconomics, Worth Publishers, 7th edition, 2010.
  • Richard T. Froyen, Macroeconomics, Pearson Education Asia, 2nd edition, 2005.
  • Karl E. Case and Ray C. Fair, Principles of Economics, Pearson Education Inc., 8th Edition, 2007.
  • Ahuja, H.L., Macroeconomics: Theory and Policy, S. Chand, 20th edition 2016.

 

 

Academic Session: 
2021-22
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