Programme PGP & PGP-FABM Term II Academic Year 2021-22

Course title Macroeconomics and Policy Area Economics Credits 1.00

Prof. Abhiman Das,
Prof. Anindya Chakrabarti,
Prof. Sanket Mohapatra

Course Description & Objectives
Macroeconomics, the study of the aggregate economy, enables one to understand the larger context within which managers, corporations and organizations work. It will introduce the students to the definition and measurement of aggregate variables such as national income, inflation, unemployment, balance of payments and the exchange rate. It will also outline conceptual frameworks that seek to explain how these macroeconomic aggregates are determined. The course will explore the role of government policy in determining macroeconomic outcomes. Should the government intervene in the economy? Under what conditions is such intervention effective or meaningful? In this context, the course will explore and examine the role of the government and central bank with reference to the fiscal, monetary and foreign exchange rate polices. In particular, it will examine the current issues for economic growth and inflation in India, interdependence of the international economy, and the influence of global macroeconomic developments on the domestic economy. Finally, the course will discuss the sources of long-term growth, the role of human and physical capital, inequality, and the growth experiences of advanced and developing countries. All through, the course will engage with current macroeconomic issues generated by the COVID-19 pandemic.

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