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Macroeconomics: Soumyen Sikdar Office: K 104 NAB Hour: by Appointment

This document outlines the topics and reading for a macroeconomics course. It will cover national income accounting, classical and Keynesian economic models, monetary and fiscal policy, inflation, unemployment, open economy issues, and economic growth. The course will use Mankiw's Macroeconomics textbook. Students will have one midterm and one final exam of equal weight. The midterm will cover chapters 1-4, 10-11, 13, 18.1 and the post-midterm topics will include chapters 5, 7-8, 12-13, 16-17.

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Prateek Agarwal
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245 views

Macroeconomics: Soumyen Sikdar Office: K 104 NAB Hour: by Appointment

This document outlines the topics and reading for a macroeconomics course. It will cover national income accounting, classical and Keynesian economic models, monetary and fiscal policy, inflation, unemployment, open economy issues, and economic growth. The course will use Mankiw's Macroeconomics textbook. Students will have one midterm and one final exam of equal weight. The midterm will cover chapters 1-4, 10-11, 13, 18.1 and the post-midterm topics will include chapters 5, 7-8, 12-13, 16-17.

Uploaded by

Prateek Agarwal
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MACROECONOMICS

SOUMYEN SIKDAR
[email protected]
office: K 104 NAB
hour: by appointment

TEXT,TOPICS,EXAMS
G.MANKIW: MACROECONOMICS 7
th
ed
One Midterm, One End term (closed book, equal weight)

MIDTERM TOPICS
National Income Accounts
Simple Model of Income Determination
The Classical Model
Money and Financial Assets
Money Supply
IS-LM: Fiscal and Monetary policy
AD-AS curves, Phillips Curve
READING: Chapters 1, 2 , 3 ,4 , 10, 11, 13, 18.1
POST MIDTERM TOPICS
AS curve , Inflation Unemployment Tradeoff
The Open Economy- the exchange rate,
capital flows and economic policy
Economic Growth
Intertemporal Choice
READING: Chapters 5, 7, 8, 12, 13, 16, 17

MAIN MACRO ISSUES
Level of production
Business cycles stabilization
Inflation
Globalization
Growth
Central question: Can the government improve
economic performance and raise welfare?
Sharply differing views: Classical/ New classical
and Keynesian/New Keynesian
THE MAJOR SCHOOLS
CLASSICAL
Continuous market clearing ( D = S) due to price flexibility( product and
factor markets)
Agents are rational
No involuntary unemployment : all who are willing to work at the current
wage can find job
Cause of unemployment: wage rigidity and other labour market
imperfections
KEYNESIAN
Wages and prices are not flexible enough to ensure continuous market
clearing
Involuntary unemployment is possible in equilibrium
Why wages-prices are sticky?
Imperfect information, institutions like product market oligopoly, collective
bargaining, costs of revising w and P

IMPORTANT DISTINCTIONS
Stocks and flows
Real and nominal- real wage, real interest
rate
Investment-financial investment
Change along curves-shift of curves
Short, medium and long run

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