Intermediate Macro Economics -I
You will Get
- Full Course Video Lectures
- Complete Study Material, which covers Important Questions and Questions from Previous Year Exams
- Video Lectures Cover Theory Portions Exchaustively + Complete Solutions of Back Questions of readings + Solutions of Previous Years Papers + Large Number of Numericals
- Live Online Doubts Sessions
1.1 Labour Market Introduction [27 Minutes]
1.2 Wage Determination [60 Minutes]
1.3 Employment and Output [30 Minutes]
1.4 Practice Questions [60 Minutes]
2.2 Slope of Aggregate Demand [30 Minutes]
2.3 Aggregate Demand Policies [18 Minutes]
2.4 Aggregate Supply [77 Minutes]
3.1 Aggregate Supply [82 Minutes]
3.2 Monetary and Fiscal Policy Using AS AD [97 Minutes]
4.1 Phillips Curve [116 Minutes]
4.2 Okun's Law [86 Minutes]
4.3 Sacrifice Ratio [32 Minutes]
4.4 Okun's Law Numericals [51 Minutes]
5.2 Expectations [115 Minutes]
5.3 Expectations [95 Minutes]
5.4 Policy Ineffectiveness Proposition [56 Minutes]
This is the second module of a three-module sequence on Macroeconomics. This course introduces students to formal modeling of the macroeconomy in terms of analytical tools. It discusses various alternative theories of output and employment determination in a closed economy in the short run as well as medium run, and the role of policy in this context. It also introduces students to various micro-founded theories of macro behaviour, e.g., consumption and investment behaviour of households and the demand for money generated in the household sector.
Course Learning Outcomes
This course enables students to analyse the macroeconomic performance of various countries using formal analytical tools. It also allows them to evaluate important macroeconomic policies and their implications.
The labour market Wage determination; wages, prices and employment; natural rate of unemployment; from employment to output
Aggregate demand and aggregate supply curves Derivation of aggregate demand and aggregate and supply curves; interaction of aggregate demand and supply to determine equilibrium output, price level and employment
Inflation, unemployment and expectations Phillips curve; adaptive and rational expectations; policy ineffectiveness debate
Microeconomic foundations Consumption: Keynesian consumption function; Fisher‘s theory of optimal intertemporal choice; lifecycle and permanent income hypotheses; rational expectations and random walk of consumption expenditure
Investment: determinants of business fixed investment; residential investment and inventory investment
Demand for money
1. Abel, A., Bernanke, B. (2016). Macroeconomics, 9th ed. Pearson Education.
2. Blanchard, O. (2018). Macroeconomics, 7th ed. Pearson Education.
3. Branson, W. (2013). Macroeconomics: Theory and policy, 3rd ed, East West Press.
4. Dornbusch, R., Fischer, S., Startz, R. (2018). Macroeconomics, 12th ed. McGraw-Hill.
5. Jones, C. (2016). Macroeconomics, 4th ed. W. W. Norton.
6. Mankiw, N. (2016). Macroeconomics, 9th ed. Worth Publishers.