Macro Economics-BBA (4-0-2)
Teacher
Dr. Anjali Dash
Category
Core Courses
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Course Name : Macro Economics
Code(Credit) :CUTM1214 (4-0-2)
Course Objectives
- Develop a macro-economic perspective
- Understand macro-economic paradigms
- Acquire knowledge of economic environment of a nation and the role of government in the economy;
- To develop a basic understanding of macroeconomic stability and its importance to develop an ability to understand macroeconomic policies and their likely impacts;
- To appreciate the challenges to government decision-making in a globalized world to gain an understanding of the linkages between economic policies and business performance.
Course Outcome
| COS | COURSE OUTCOMES | MAPPING COS WITH POS (High-3; Medium-2; Low-1) |
| CO1 | Understand the theoretical and conceptual knowledge of macroeconomics. Understand the preliminary concepts associated with the determination and measurement of aggregate macroeconomic variable like savings, investment, GDP, money, inflation, and the balance of payments. | PO1(3) |
| CO2 | Demonstrate a firm knowledge of the interrelationships among consumers, government, business and the rest of the world in Indian macro-economy. | PO2(3) PO5(2) PO9(3) |
| CO3 | Learn fiscal and monetary policy decisions to counter economic problems by using macro-economic instruments; develop the ability to distinguish the functions of these tools in controlling inflation, regulating money supply, and promoting economic growth. | PO3(3) PO4(2) |
| CO4 | Identify the process of how the nation’s output of goods and services is measured through the national income | PO6(3) PO7(2) |
| CO5 | Ability to understand about how to make sustainable economic growth of a nation | PO8(3) PO10(2) |
Course Syllabus
- Module I: Measurement of macroeconomic variables: National Income Accounts, Gross Domestic Product, National Income, Personal and Personal disposable income; Classical theory of income and employment: Quantity Theory of Money – Cambridge version, Classical aggregate demand curve, Classical theory of interest rate.
- Module II: Keynesian theory of Income and employment: Keynesian theory of Income and employment : simple Keynesian model, components of aggregate demand, equilibrium income, changes in equilibrium, multiplier (investment, Government expenditure, lump sum tax, foreign trade).
Module III: Money: Functions of money, quantity theory of money, determination of money supply and demand, H theory of money multiplier, indicators and instruments of monetary control;
Inflation: meaning, demand and supply side factors, consequences of inflation, anti-inflationary policies, natural rate theory, monetary policy-output and inflation, Phillips curve (short run and long run). - Module IV: Open Economy: Brief introduction to BoP account, market for foreign exchange and exchange rate, monetary and fiscal policy in open economy.
Suggested Textbooks
1- Froyen, R. T., 'Macroeconomics', Theories and Policies, Pearson
2- Mankiw, G. N.,'Macroeconomics', Worth publishers
3- Dornbusch and Fischer, 'Macroeconomics', Tata McGraw Hill
Session Plan
Session 1
Introduction to Macro Economics
Presentation https://www.slideshare.net/CSSohilGajjar/introduction-micro-economics
Session 2
Measurement of Macro Economic Variables-National Income Accounts
Session 3 & 4
Estimation of National Income
Session 5 & 6
Project 1: Students' Presentation on India's Growth Scenario Pre and Post COVID-19
Session 7
Consumer's Price Index and Producer's Price Index
Presentation: https://www.slideshare.net/LekshmiNathB/consumer-price-index-and-wholesale-price-index
Session 8 & 9
Project 2: Students' Presentation on Caselet
Caselet 1: Does the CPI overstate inflation?
Session 11
The Classical Revolution
Presentation and Video-https://www.coursera.org/lecture/principles-of-macroeconomics/the-two-pillars-of-classical-economics-48ayM
Session 12
Classical theory of Production Function
Video-https://www.investopedia.com/terms/l/lawofdiminishingmarginalreturn.asp
Session 13 & 14
Classical theory of Output and Employment
Session 19
Simple Keynesian Model
https://www.slideshare.net/smaitra123/simple-keynesian-model-78369162
Session 20 & 21
Session 22 & 23
Keynesian theory of Income and employment
Presentation: Determining Equilibrium Income
Video: https://www.youtube.com/watch?v=cYNVB5iqydk&list=PL-uRhZ_p-BM52EbMG1NR1ZfG9tEvcxE4u&index=59
Session 24
Perspective 1: Macroeconomic Controversies
Session 25 & 26
Money and Interest Rate in the Keynesian System
Session 27
Multiplier-investment, Government expenditure
Session 28
Multiplier-Tax and Foreign Trade
Session 29
Perspective 2: The Financial Crisis of 2020: An Initial Look
Session 30
Keynes versus the Classics
Presentation and Video: https://www.youtube.com/watch?v=xXNrloLHOzI
Session 31
The Reformulation of the Quantity Theory of Money
Session 32
Functions of Money
Session 33 & 34
Determination of Money Supply and Money Demand
Session 35
Perspective 3: Money in Hyperinflation
Session 36 & 37
Fiscal Policy
Session 38 & 39
Project 3: Students' Presentation on Union Budget of India
Session 40 & 41
Monetary Policy
Session 42 & 43
Project 4: Presentation on Indian Monetary Policy
Session 44
Money Multiplier
Session 45
Inflation: meaning, demand and supply side factors
Session 46
Consequences of inflation, anti-inflationary policies
Session 47 & 48
Project 5: Case Study
Case Study What Caused the Great Inflation?
Session 49
Natural rate theory
Session 50 & 51
Phillips Curve (Short Run and Long Run)
Session 52 & 53
Project 6: Case let
Caselet: Hyperinflation in Zimbabwe
Session 54
Balance of Payments Accounts
Session 57
Demand and Supply in the Foreign Exchange Market
Session 58
Exchange Rate Determination: Flexible Exchange Rates
Session 59
Exchange Rate Determination: Fixed Exchange Rates
Session 60 & 61
Project 8: Case Study Presentation
Case Study: The International Gold Standard
Session 62 & 63
Session 64 & 65
Doubt clearing and Wrap up
Case Studies
Case Studies
Our Main Teachers
Dr. Anjali Dash is working as an Assistant Professor (Economics) at School of Management, Centurian University of Technology and Management, Bhubaneswar since August 2022. She was a Post-doctoral fellow at International Institute for Population Sciences (IIPS), Mumbai, 2017-2019. She hold Ph.D. degree in Economics from M.P. Institute of Social Science Research, Ujjain, M.P. and Mphil degree in Economics from Sambalpur University. Her interest is on teaching are: Health economics, Economietrics, Microeconomics, Mathematical economics, and Computer application for economic analysis, Statistics. Her research interest is on health economics, poverty, rural and tribal development, urban issues, education, ageing, migration, and employment. She is interested more in interdisciplinary research. She has more than 8 years of post PhD worked experience in research and teaching from various national organization such as Central University of Odisha, Koraput, Centre for Social Studies, Surat, Institute of Economic Growth (IEG), New Delhi, Samarthan Bhopal, Tata Institute of Social Sciences (TISS), Mumbai and Sambalpur University. She has proficient in analytical skill in large data like NSSO, NFHS and SAGE.
“We are what we repTeacherseatedly do. Excellence, therefore, is not an act but a habit” I have received my Ph.D. from the Department of HSS, Indian Institute of Technology (IIT) Kharagpur. Prior to my Ph.D., I also have degrees in M.Phil. in Economics (2007) and MA in Economics (2005), both from Ravenshaw University, Odisha. Throughout my […]