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Principle of Macroeconmics II

This document outlines the details of a macroeconomics course, including learning objectives, outcomes, topic units, required readings, and assessment. The course introduces macroeconomic concepts like aggregate supply and demand, inflation, unemployment, and exchange rates. Students will be evaluated based on tests, assignments, projects, and a final exam.

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Aanshul
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125 views

Principle of Macroeconmics II

This document outlines the details of a macroeconomics course, including learning objectives, outcomes, topic units, required readings, and assessment. The course introduces macroeconomic concepts like aggregate supply and demand, inflation, unemployment, and exchange rates. Students will be evaluated based on tests, assignments, projects, and a final exam.

Uploaded by

Aanshul
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UNIVERSITY OF DELHI

DELHI SCHOOL OF ECONOMICS


DEPARTMENT OF ECONOMICS

Minutes of Meeting

Subject: General Electives (GE-15)


Course: ECON028: Principles of Macroeconomics II
Credits: 4 (3L+1T)
Date: Tuesday 22.01.2024, 11.30 am
Venue: Department of Economics, Delhi School of Economics, University of Delhi
Convenor: Mausumi Das and Swati Saini

Attended by:

Divya Shanker Gupta Mata Sundri College for Women

Aakriti Saini Daulat Ram College

Deepika Kandpal PGDAV College

Vipin Negi Keshav Mahavidyalaya

Anil Kumar Ramjas College

Dr. Mamta Ahuja Sri Guru Nanak Dev Khalsa College

Jaspreet kaur Shaheed bhagat singh college

Dr. Kalpna Negi Lady Shri Ram College for Women

Indranil Chowdhury PGDAV COLLEGE

Suvojit Lahiri Chakravarty Aryabhatta College

Dr Gatikrushna Mahanta Zahir Husain Delhi college (M)

Learning Objectives:
 This course introduces labour markets and derived the aggregate supply (AS) curve.
 Then it integrates with Aggregate Demand (AD) to determine equilibrium prices and output.
 The course discusses Phillips curve and the alleged trade-off between inflation and
unemployment.
 Both adaptive and rational expectations are introduced.

Learning Outcomes:
 The students would learn an analytical framework to analyse the basic functioning of the
aggregate macro economy under closed and open economy.
 It also enables them to analyse the functioning of the economies in terms of the effects of
fiscal and monetary policy and trade-off between inflation and unemployment.

Readings:
1. Olivier Blanchard (2007): Macroeconomics (4th edition), Pearson
2. Rudiger Dornbusch, Stanley Fischer and Richard Startz (2011): Macroeconomics (12th
edition), McGraw-Hill

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3. Andrew Abel, Ben Bernanke and Dean Croushore (2014): Macroeconomics (8th edition),
Pearson

Topic-wise Readings:

UNIT – I: IS-LM Analysis for Income Determination (10 Hours)


Derivation of the IS and LM functions; IS-LM and aggregate demand; shifts in the AD curve

UNIT – II: GDP and Price Level in Short Run and Long Run (10 Hours)
Aggregate Demand and Aggregate Supply; Multiplier Analysis with AD curve and Changes in Price
level; Aggregate Supply in the short-run and long-run

(i) Dornbusch, Fischer and Startz: Chapters 10, 11, and 12 (Income and Spending; Money, Interest,
and Income; Monetary and Fiscal Policy)
(ii) Blanchard: Chapter 7 (Putting All Markets Together: The AS-AD Model)

Supplementary Reading:
(iii) Abel, Bernanke and Croushore: Chapter 8 (The IS-LM/AD-AS Model: A General Framework for
Macroeconomic Analysis)

UNIT – III: Inflation and Unemployment (10 Hours)


Concept of Inflation; Determinants of Inflation; Relationship between Inflation and Unemployment;
Phillips Curve in the short-run and long-run

(i) Blanchard: Chapters 8 (The Natural Rate of Unemployment and the Phillips Curve)

UNIT – IV: Balance of Payments and Exchange Rate (6 Hours)


Balance of Payments; Current account and Capital Account; Market for Foreign Exchange;
Determination of Exchange Rate.

(i) Dornbusch, Fischer and Startz: Chapter 13 (International Linkages)

Assessment:

1. Internal Assessment (IA): 30 marks


(i) one class test (12 marks),
(ii) one assignment (12 marks),
(iii) class attendance (6 marks)

2. Continuous Assessment (CA): 40 marks


(i) two class tests/assignments (adding up to 20 marks),
(ii) ) A group research project with presentation, preferably looking at Indian data (15
marks)
(iii) class attendance (5 marks)

3. End-semester (Final) Exam: 90 marks - will comprise numerical and other questions.

Weightage of each unit in the final examination:


Unit I - 25 marks
Unit II- 25 marks
Unit III- 25 marks
Unit IV - 15 marks
There will be internal choice within each section.

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