Introduction

This undergraduate course introduces students to the core concepts and models of macroeconomics. It covers national income accounting, long-run economic growth, business cycle analysis, and the tools of fiscal and monetary policy, with applications to the Indian and global economy.

Part 1: National Income and Economic Growth

• National income accounting and GDP measurement
• Long-run economic growth: Solow model and beyond
• Savings, investment, and capital accumulation
• Productivity and technological change

Part 2: Business Cycles and Short-Run Fluctuations

• IS-LM model
• Aggregate demand and aggregate supply
• Unemployment and inflation
• Phillips Curve

Part 3: Macroeconomic Policy

• Fiscal policy: government spending and taxation
• Monetary policy: central banking and interest rates
• Open economy macroeconomics
• Macroeconomic policy in developing economies