This course provides a rigorous framework for understanding the aggregate economy in both the short run and the long run. The objective of the course is to provide an overview of modern macroeconomics at the post-graduate level, to show how this body of theory can be adapted to the characteristics of developing economies. Another objective of the course is to familiarize the students with the contribution of various schools of thought in macroeconomics. The first part of the course is intended to present a thorough understanding of three outstanding orthodoxies, viz, Classical, Keynesian, Modern Neo-classical synthesis, Neo Keynesianism and Monetarism. The course structure covers the major debates and controversies intends to provide a wider vision of the present discourses in macroeconomics. The course will help to develop the aptitude to relate concepts with research and policy. The course aims to introduce students to key concepts, methodologies, theories, and techniques in modern macroeconomic analysis. At the end of this course, students should be able to (i) know of the major issues as they arise in the field of macroeconomics, (ii) understand alternative approaches to modeling consumption, and investment, (iii) critically evaluate the usefulness of macroeconomic techniques
- Teacher: Dr. M.J. SUNILKUMAR