Macro Economics Syllabus

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NMIMS‐SBM: Course Description Course Code Course Title Course Instructor/s Credit Value Programme & Trimester Pre‐requisite Course Learning Objectives (CLO’s) Evaluation Pattern Macroeconomic analysis and policies Dr. Sangita Kamdar, Dr. Chandrima Sikdar, Prof. Sauvik Dhar 3 FTMBA I yr – Trimester II None a. Provide an understanding of the basic macroeconomic concepts and theories.(PLO2b) b. Relate the techniques and tools to real world economy to understand the business environment in India.(PLO2b) Group project / case 10% Quiz 10% Individual mid term test 30% Endterm 50% Session1 Topic: Limits of the invisible hand. The role and functions of the government. Introduction to macroeconomic thought – Classical, Keynesian and Monetarism. Supply side economics Read: Samuelson Paul and William Nordhaus, Chapter 16, 19A Session 2 Topic: Objectives of macroeconomic policy‐ Aggregate income and welfare. Inflation, employment and balance of payments. A brief discussion of each policy objective. Conflict in objectives. Tools of macroeconomic policy‐ monetary and fiscal policies. Read: Text Chapter 1. Sloman John and Mark Sutcliffe, Economics for Business, Pearson Education, Chapter 26 Session 3 Topic: Aggregate income: Income and output, Circular flow of income and expenditure‐factor and commodity markets, real and money flows. 3 ways of measuring economic activity. Read: Text Chapter 1 Session 4 Topic: Measuring Aggregate Income: GDP, GNP, Real and Nominal GDP, National income. GDP Deflator. Income and welfare. Omissions in the measurement of aggregate income. Read: Text Chapter 1 Case study: GDP fetishism Session 5 Economic Growth: Factors determining economic growth‐quantum of resources and productivity, social and political factors in determining economic activity. Economic growth and business cycles.

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