Macroeconomics

By Dr. Vishakha Kutumbale | School of Economics

Learners enrolled: 355

Macroeconomics is a very basic Economics subject. It is part of curriculum in Economics, Commerce, Management and Engineering programs. This course is perfect blend with commerce, as both lead to better understanding of Local, National and Global Economy. Many concepts and theories that they learn from commerce perspective, this course will augment to that knowledge. It helps the student to mature and deepen the understanding of macroeconomic phenomenon. This course helps to understand Policy framework and its implications on the economy. This subject aids in understand different school of thoughts in Macroeconomics. It acts as a bridge between the understandings of Macroeconomics at High School level to application of the subject in events across the Globe.

Subject Matter Experts:

1. Prof. Ganesh Kumar Nidugala, IIM Indore.

2. Prof. Ganesh Kawadia, former head, School of Economics, DAVV, Indore.

3. Dr. Vishakha Kutumbale, Senior Lecturer, School of Economics, DAVV, Indore.

Summary

Course Status :	Upcoming
Course Type :	Core
Language for course content :	English
Duration :	12 weeks
Category :	Commerce
Credit Points :	5
Level :	Undergraduate
Start Date :	09 Jan 2025
End Date :	30 Apr 2025
Enrollment Ends :	28 Feb 2025
Exam Date :	17 May 2025 IST
NCrF Level	4.5
Industry Details :	Economics, Finance and Sales
Exam Shift :	I

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week	Module No	Title of the Module
1	1	Introduction to macroeconomics and its concepts : Types of macroeconomic variables like consumption expenditure, savings, investment, national income and its components. Concept of stock and flow variable
	2	Circular flow of money in two sector, three sector & open economy. Development of macroeconomics since 17th Century.
	3	Aggregate Supply & aggregate demand curve. Equilibrium in AS & AD in long run
	4	Methods of national income accounting
	5	Social Accounting
2	6	Introduction to Fiscal &Monetary Policy- Its Objectives and instruments of Fiscal Policy.
	7	Objectives & instruments of Monetary Policy. Effect of these instruments on the economy.
	8	IS-LM Curve- The Goods market & IS- curve
	9	The Money market & LM Curve.
3	10	Equilibrium in IS-LM Curve, crowding effect and effects of Tax, Money supply on these curves.
	11	The Real and Pigou effect
	12	Consumption function & Aggregate Demand
	13	Theories of consumption- Psychological and relative theories.
	14	Life Cycle and Permanent Income Hypothesis.
4	15	Multiplier Theory- Simple Investment & Govt. Budget multiplier
	16	Tax Multiplier & Foreign Trade Multipliers.
	17	Effects of Multipliers with case studies.
	18	More on Multipliers
	19	Introduction to Inflation and various definitions.
5	20	Types of inflation and its measurement.
	21	Inflation and interest rate.
	22	Introduction to Unemployment- Types of unemployment.
	23	Phillips curve- Static and Dynamic
6	24	Sacrifice ratio and role of expectations
	25	Tax regime in India and Laffer curve
	26	J. B. Says Law and capitalistic economy
	27	Classical approach to labour market and equilibrium in the economy.
7	28	Keynesian theory and equilibrium.
	29	Comparison of Classical and Keynesian theory.
	30	Flow of goods & capital in an open economy
	31	Saving Investment relationship- Classical and Swedish approach.
8	32	Introduction to Exchange Rates and concepts
	33	Theories of Exchange Rate determination
	34	Concept of Balance of Payments and Forex Reserves
	35	Mundel- Flemming Model- I
9	36	Mundel- Flemming Model- II
	37	Exchange Rate and Interest rate differentials
	38	Investment function and types of investment.
	39	Determinants of Investments, MEC and MEI
10	40	Theories of Investment -I
	41	Flexible Accelerator Model and KoyckAopproach
	42	Investment sub- sectors- Business Fixed, Residential and inventory Investment.
	43	Money- Functions & Types
	44	Theories of Demand for money-Pre Keynesianism
11	45	Liquidity Preference theory
	46	Theories of Demand for money-Post Keynesianism
	47	Money multiplier and its components
	48	Supply of money and stock of money supply
12	49	RBI & its objectives
	50	Credit Disbursement policy and its regulation
	51	Business Cycles- an Overview
	52	Types of Business Cycles-I
	53	Hicks and Hawtrey’s theory of Business Cycle
	54	Subprime Crisis of 2008 in the Context of the American Economy
	55	Clintonomics
	56	Reaganomics
	57	Keynesianism
	58	Monetarism and Failure of Other Economies

Books and references

1. Dornbush, R., Fischer, S. & Startz, R. Macroeconomics, New Delhi: Tata McGraw-Hill, 12th Edition 2018

2. N. Gregory Mankiw. Macroeconomics, Worth Publishers, 10th edition, 2019.

3. Richard T. Froyen, Macroeconomics, Pearson Education, 10th edition, 2013.

4. Errol D ‘Souza, Macroeconomics, Pearson Education, 2008.

5. Edward Shapiro. Macroeconomic Analysis, Galgotia Publications Pvt Ltd, 5th edition, 2001.

6. S.K. Mishra, V.K. Puri, Macroeconomics, Himalaya Publication, 2001

7. Macroeconomics: Theory and Policy, by D. N. Dwivedi, 5th Edition, Tata McGraw-Hill Education, 2005.

8. Macroeconomics: Theory and Policy- H. L. Ahuja, S. Chand Publisher, 2010.

Instructor bio

Dr. Vishakha Kutumbale

School of Economics

B.E. (Industrial Production), M.A. (Economics), PhD is an Assistant Professor of Economics at Devi Ahilya University, Indore. She has many publications under her name, including several research papers and two books. With over 23 years of working experience in the industry and academia, she has been associated with the University since the last 14 years.

EDUCATION

PhD Devi Ahilya University July 2010

Dissertation: “Financial Liberalization”

M.A. Devi Ahilya University May 2006

Thesis, Major/Minor Project: “Hospital Waste Management”

HONORS AND AWARDS

Coordinator for UGC-STRIDE Program, sponsored by UGC, 2020.

Coordinator for Research Skill Enhancement Program, sponsored by ICSSR, 2014.

Captain of Badminton Team of SGSITS, Indore 1995-96

Winner at Tech-Kriti at IIT Kanpur 1994

RECENT PUBLICATIONS AND PROJECTS

Potential of BRTS with Special Reference to Indore City, 2017

Seed Money Project of DAVV

Books

Financial Liberalization and its Impact on Consumption and Wealth in India, A.K. Publications, New Delhi, ISBN No. 978-93-80164-63-2, 2012

Potential of BRTS - with special reference to Indore City, Ganga publishers & Distributors ISBN No. 978-81-932681-4-8, 2018

Articles

Economics of Horticulture crops in Jammu & Kashmir: A case study of apple fruit, Journal of Global Economy, pp. 3-11, Vol:15, Issue:01, ISSN (Print Version) 0975-3931 ISSN (On Line Version) 2278-1277, 2019

Production And Productivity of Fruits in Post Reform Period among Major Fruit Producing States of India, Uttar Pradesh Uttarakhand Economic Association Journal, Volume 14, Pages:584-588, 2018

Effect of Broad Money on Economic Growth: An Empirical Analysis, Journal of Madhya Pradesh Economic Association, pp. 60-69, Vol:28, Issue:01, ISSN 2277-1123, 2019

Distribution Mechanism and Price Spread of Selected Horticulture Crops in South Kashmir, Journal of Marketing Strategy, Vol:06, Issue:01, Impact Factor 4.73 ISSN: (2347-3770), 2018.

Interlinkages between Foreign Direct Investment, Economic Growth and Financial Sector in India, 25 Years of Globalization in India, pp. 59-68, ISBN 987-81-932681-5-5, 2017

For Full Details of Publications visit:

https://scholar.google.com/citations?user=FctgV7oAAAAJ&hl=en&oi=sra

Course certificate

The course is free to learn. Interested Learners can enroll and learn the course for free.

If You wish to get certified on this course you must register and write the proctored exam after payment of exam fee.
The exam is conducted by National Testing Agency (NTA) in various exam centres across India.
30 % will be allocated for Internal Assessment and 70 % will be allocated for external proctored examination.
A minimum 40 % passing marks are needed in internal AS WELL AS external for being eligible for certificate.

Exam pattern:
Computer Based Test (CBT)
50 MCQs (Each Set)

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