Macro Economics-BBA (4-0-2)


Dr. Madhumita Das


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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

Learning Outcome

  • Apply macroeconomic perspective to solve business problems

Course Syllabus

  • Unit 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.
  • Unit 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). 
    Unit 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).
  • Unit 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

Presentation: NAtional Income1

Video Link-

Session 3 & 4

Estimation of National Income

Study Material: National Income estimation

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?

Case study 1

Session 10

Perspective 1: What GDP is not

What GDP is not-converted

Session 13 & 14

Session 15 & 16

Classical theory of Money

Presentation: Classical Macroeconomics-Money


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


Session 20 & 21

Keynesian theory of Aggregate Demand

Presentation:The Components of Aggregate Demand


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:

Session 31

The Reformulation of the Quantity Theory of Money

Session 32

Functions of Money

Presentaion: Money

Session 33 & 34

Determination of Money Supply and Money Demand

Presentation: Money

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 Money Multiplier

Session 45

Inflation: meaning, demand and supply side factors


Session 46

Consequences of inflation, anti-inflationary policies

Presentation: Measures to Control Inflation

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

Presentation: Balance of Payments

Session 55 & 56

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


Session 57

Demand and Supply in the Foreign Exchange Market

Presentation: 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. Madhumita Das

Assistant Professor

“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 […]