Macroeconomics | Humanities & Social Sciences


Course Number: 
LTP structure: 


For UG students--any ONE of: HUL211, HUL212, HUL213, HUL311, HUL312, HUL314, HUL315, HUL318, HUL320

Course Objective

This course aims to introduce advanced macroeconomic theory and policies. It deals with the main principles of the determination of real income, employment, price level and exchange rates. It provides an understanding of the contending macroeconomic theories, including the Classical, Keynesian and Monetarist analyses. The course discusses macroeconomic policies, as also the challenges in implementing them in a globalized economy.


Course Content

This course begins with a detailed study of macroeconomic concepts, which include an analysis of India’s national income and balance of payments data. It provides an understanding of the contending theories of employment, income distribution, money supply, and price-wage relationships. The course also deals with exchange rates and other open economy macro issues. It discusses the classical and neoclassical theories of the macroeconomy, as also the critiques of these theories by Keynes, Kalecki, and their followers. The course examines macroeconomic policies, and the challenges faced by governments and the Central Banks in implementing them, especially in the context of the integrated nature of global finance and production.

The information provided here may not be updated. Please check UG/PG section for updated course offering data.