Economics

UNIVERSITY OF DELHI DELHI SCHOOL OF ECONOMICS DEPARTMENT OF ECONOMICS Minutes of Meeting Subject : Course : Date of Meeting: Venue : Convenor Attended by: 1. Basanti Kumari Nayak, Satyawati College 2. Supriti Mishra, Shyam Lal College 3. Chhavi Gautam, Kamla Nehru College 4. Lokendra Kumawat, Ramjas College 5. Rashmi Mittal, Dyal Singh College 6. Reetika Rana, Shivaji College 7. Punam Tyagi, Kalindi College 8. Aditi Aeron Bansal, Shaheed Bhagat Singh College 9. Vandana Sethi, Motilal Nehru College 10. Nidhi Dhamija, Hindu College 11. Ranjan, A.R.S. D. College 12. Rashmi Sharma, Delhi College of Art & Commerce 13. Aruna, Sri Venkateshwara College 14. Akhilesh Kumar Yadav, Satyawati College 15. Jayesh Adeshra, Shaheed Bhagat Singh College 16. Shailja Gupta, Zakir Husain College 17. Anand Kumar, College of Vocational Studies 18. Savita Singh, Deshbandhu College 19. Manjit Kaur, S.P.M. College The following changes were agreed upon: Suggested number of lectures: for Unit 1 - approximately 20; for Units 2 & 3 together – approximately 20; for Unit 4 - approximately 20. Topic-wise Readings: Unit1.Introduction to Macroeconomics and National Income Accounting Basic issues studied in Macroeconomics; measurement of gross domestic product, income, expenditure and the circular flow; real versus nominal GDP; price indices; national income accounting for open economy, balance of payments accounts, current and capital accounts : B.A. (Hons) Economics 04 (Introductory Macroeconomics) 14.12.2012 (Friday), 11:30 am Department of Economics, Delhi School of Economics, University of Delhi Mausumi Das

Readings: (i) A. Abel, B. Bernanke and D.Croushore (2011; 7thedn), Chs, 1 & 2. (ii) P. Krugman and M. Obstfeld(2009; 8thedn.),Ch 12, pages 293-316 only. Unit 2. Money Functions of money; quantity theory of money; determination of money supply and demand; credit creation; tools of monetary policy Readings: (i) N. G Mankiw(2007, 6thedn),Section 4.1 only. (ii) R.Froyen, (2005, 8thedn.),Section 4.1 only. (iii) O. Blanchard (2006, 6thedn), Ch.4 Unit3.Inflation Inflation and its costs; hyperinflation Readings: (i) N. G Mankiw (2007, 6thedn), Sections 4.1 -4.8. (ii) O. Blanchard (2006, 6thedn), Ch.23 Unit4.The Closed Economy in the Short Run Classical and Keynesian systems; simple Keynesian model of income determination; IS-LM model; fiscal and monetary multipliers Readings: (i) R.Froyen, (2005, 8thedn.), Chs. 3 and Sections 4.2-4.4 (ii) R. Dornbusch and S. Fischer (1994, 6thedn), Chs. 3, 4, and Sections 5.1-5.3O. Blanchard (2006, 6thedn), Ch.23 Assessment: 1. The internal evaluation will consist of two class tests of 10 marks each, with 5 marks being allocated for attendance. 2. The End-semester/Final Examination (75 marks) will have the following format: The question paper should have total threequestions, carrying equal marks, with the following distribution across topics:one question from Unit 1; one question from Units 2& 3 together; and one question from Unit 4. Each question should have internal choices. Question could be mathematical in nature.