Iim Indore Macro

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Post Graduate Programme in Management

2012-13Term: II

TITLE OF THE COURSE: mACROECONOMICS
CREDITS: 4

| |Name of the Faculty Member |Faculty Block |Telephone |E-mail | |Instructor 1 |Ganesh Kumar N. |B, First Floor |552 |ganesh@iimidr.ac.in | |Instructor 2 |Dipayan D.Chaudhuri |A, Ground Floor |511 |dipayan@iimidr.ac.in | |Instructor 3 |Amlendu Dubey |C, First Floor |569 |amlendu@iimidr.ac.in |

Course Description

The course covers macro-economic theory and its applications particularly to the Indian context. The main theoretical framework for the course will be IS-LM and Aggregate Demand – Aggregate Supply. We begin the course with understanding national income accounts. We then set up with simple models of national income determination, and relax the assumptions to set up more complex models. These models are necessary to understand and analyze the effects of fiscal and monetary policy on the economy. The course will help participants to develop analytical skills to understand the monetary policy announcements of the central banks and broad fiscal policies of the government and their impact on the economy.

In the context of globalization of economies, we will discuss the linkages of national economy with global economy and explore interdependencies among countries. We have allocated 6 out of the total 20 sessions for international linkages of national economy.

COURSE OBJECTIVES

The course aims at helping participants understand the complex macroeconomic environment, which confronts business. The participants will be able to understand the rationale behind the economic policy announcements and anticipate policy changes. The course will equip participants with analytical tools to decipher the effects of economic policy announcements, particularly Monetary and Fiscal policy, on crucial macroeconomic factors such as interest rate, income, inflation, etc.

Pedagogy/Teaching Method:

The pedagogy will be predominantly lectures and classroom discussions. Applications of macroeconomic theory and case studies are discussed to reinforce understanding of concepts.

Text

Macroeconomics by Rudiger Dornbusch, Stanely Fischer, and Richard Startz, Ninth edition, McGraw-Hill, 2004 (DFS)

Reference

Macroeconomics by N. Gregory Mankiw, Fifth Edition, Worth Publishers, 2006 (NGM)

EVALUATION

Weightage
|Component |%age | |Quizzes |20 | |Mid Term |35 | |End Term |35 | |Class Participation |10 |

Total 100%

Schedule of Sessions

Module I Overview of Macroeconomics

Session 1 & 2Introduction and National Income Accounting

ReadingChap 1, pp.1-16 (DFS); Chap 2, pp.21-42 (DFS)
Case“Measuring What Matters”, The Economist, 17th September, 2009

Module II Economy in the Short Run

Session 3The Goods Market:
Models of National Income Determination – I: Consumption and Investment...
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