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

Session 2

Measurement of Macro Economic  Variables-National Income Accounts

Video Link-https://www.youtube.com/watch?v=2n-m2mWyz5g

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 8 & 9

Project 2: Students' Presentation on Caselet

Caselet 1: Does the CPI overstate inflation?

Session 10

Perspective 1: What GDP is not

What GDP is not-converted

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

Video-https://www.youtube.com/watch?v=Xt_L8WFKvLc

Session 15 & 16

Classical theory of Money

Video: https://www.youtube.com/watch?v=q59tZKP0HME

Session 17

Classical theory of the Interest Rate

Presentation:Classical theory of rate of interest

Session 18

Classical Theory of Aggregate Demand

Presentation:Classical Theory of Aggregate Demand

Video: https://www.youtube.com/watch?v=xXNrloLHOzI

Session 20 & 21

Keynesian theory of Aggregate Demand

Presentation:The Components of Aggregate Demand

Video:

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 55 & 56

Project 7: Presentation on India's Balance of Payments Accounts

RBI-BoP

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 64 & 65

Doubt clearing and Wrap up

Case Studies

Case Studies

Our Main Teachers

Dr. Anjali Dash

Assistant Professor
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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.

Dr. Madhumita Das

Assistant Professor
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“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 […]