Lecture Notes
India and the World Economy
(Sections C and E)
Instructor Sudip Chaudhuri Room B-207; Ext 185
1
India and the World Economy
• Economics I and II: – Microeconomics – Macroeconomics
• Economics III:
– Course objective: analyze economic problems of India in the context of the ongoing process of globalization
2
How is India performing? What are the main economic issues?
3
Some Macroeconomic indicators
• • • • • • • • • GDP Inflation Fiscal deficit Trade and current account deficit/balance Interest rates Repo, reverse repo rates Foreign Exchange rate Foreign investment Stock market indices – Sensex, Nifty etc
• Unemployment and Poverty?
4
Macroeconomic indicators
• Some of these are Means rather than Ends, e.g., Fiscal Deficit • The most important objectives of economic policy making should be creating jobs and reducing poverty, but decision makers are hardly evaluated on these basis
5
Lecture plan
Topic 1 Topic 2 Topic 3 Topic 4 Topic 5 Topic 6 Topic 7 Topic 8 Introduction India’s economic strategy: from development planning to economic reforms Growth and crises in Indian economy Trade and industrial reforms Financial sector reforms and monetary policy Fiscal policy and fiscal deficit Balance of payments, trade and capital flows Unemployment, poverty and inequality
6
Examination
• Closed book end-term examination:
– – – – Lecture PPTs Class discussions Readings recommended Opinions must have factual and logical basis:
• Different readings may have different approaches
• Separate question papers – Sections (A, B and F); (C and E) and (D) • Grades to be normalized
7
Grade normalization target
• • • • • • • A plus: 10% of the students A only: 15% A minus: 15% B plus: 25% B only: 15% B minus: 10% C plus/F: 10%
8
Note: Actual distribution may vary across sections
Lectures
• PPTs in course web • Discussions in class room: – PPTs uploaded are not substitutes for class lectures – Apart from class rooms,
(Sections C and E)
Instructor Sudip Chaudhuri Room B-207; Ext 185
1
India and the World Economy
• Economics I and II: – Microeconomics – Macroeconomics
• Economics III:
– Course objective: analyze economic problems of India in the context of the ongoing process of globalization
2
How is India performing? What are the main economic issues?
3
Some Macroeconomic indicators
• • • • • • • • • GDP Inflation Fiscal deficit Trade and current account deficit/balance Interest rates Repo, reverse repo rates Foreign Exchange rate Foreign investment Stock market indices – Sensex, Nifty etc
• Unemployment and Poverty?
4
Macroeconomic indicators
• Some of these are Means rather than Ends, e.g., Fiscal Deficit • The most important objectives of economic policy making should be creating jobs and reducing poverty, but decision makers are hardly evaluated on these basis
5
Lecture plan
Topic 1 Topic 2 Topic 3 Topic 4 Topic 5 Topic 6 Topic 7 Topic 8 Introduction India’s economic strategy: from development planning to economic reforms Growth and crises in Indian economy Trade and industrial reforms Financial sector reforms and monetary policy Fiscal policy and fiscal deficit Balance of payments, trade and capital flows Unemployment, poverty and inequality
6
Examination
• Closed book end-term examination:
– – – – Lecture PPTs Class discussions Readings recommended Opinions must have factual and logical basis:
• Different readings may have different approaches
• Separate question papers – Sections (A, B and F); (C and E) and (D) • Grades to be normalized
7
Grade normalization target
• • • • • • • A plus: 10% of the students A only: 15% A minus: 15% B plus: 25% B only: 15% B minus: 10% C plus/F: 10%
8
Note: Actual distribution may vary across sections
Lectures
• PPTs in course web • Discussions in class room: – PPTs uploaded are not substitutes for class lectures – Apart from class rooms,