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ECON004 (1)

The document outlines the course structure for Introductory Macroeconomics (ECON004) at the University of Delhi, including learning objectives, outcomes, readings, and assessment methods. It covers key macroeconomic concepts such as GDP, money supply, and income determination, along with a detailed breakdown of units and their respective topics. The assessment consists of internal and continuous assessments, along with a final exam, with specified weightage for each unit.

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36 views

ECON004 (1)

The document outlines the course structure for Introductory Macroeconomics (ECON004) at the University of Delhi, including learning objectives, outcomes, readings, and assessment methods. It covers key macroeconomic concepts such as GDP, money supply, and income determination, along with a detailed breakdown of units and their respective topics. The assessment consists of internal and continuous assessments, along with a final exam, with specified weightage for each unit.

Uploaded by

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Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DEPARTMENT OF ECONOMICS

UNIVERSITY OF DELHI
Subject: B.A. (Prog.) Economics DSC Major and Non-Major
Sem: II
Course & Code: Introductory Macroeconomics ECON004
Date & Time: Friday 22nd November 2024 at 4:00 pm
Venue: http://meet.google.com/rao-ahim-fys
Convenor: Dibyendu Maiti, Swati Saini
Sub Committee: Dr. Tanu, Dr. Neha Goswami, Dr. Nidhi Dhamija, Dr. Swarup Santra,
Dr. Vishakha Jain
In Attendance
College Teachers:
Learning Objectives
● To introduce students to the basic concepts of macroeconomics.
● To discuss the preliminary concepts associated with determining and measuring
aggregate macroeconomic variables like GDP, savings, investment, money, inflation,
unemployment and the balance of payments.
● To introduce the simple analytical framework (e.g., the IS-LM Model) for analysing
the relationships among key macroeconomic variables.
Learning Outcomes
● The students would be able to familiarise themselves with broad macroeconomic
concepts like GDP, inflation, money supply, interest rate, inter-linkages, and
interrelationships.
● By studying the course, the students will be able to critically evaluate various
macroeconomic policies and their effects on output and interest rates in the economy.
Readings:
1. Andrew B. Abel, Ben S. Bernanke and Dean Croushore (2011). Macroeconomics, 7th
edition, Pearson.
2. Oliver Blanchard and David R. Johanson (2013). Macroeconomics, 6th edition, Pearson
3. Rudiger Dornbusch, Stanley Fischer and Richard Startz (2011). Macroeconomics, 11th
edition, McGraw-Hill.

Unit 1. Introduction to Macroeconomics and National Income Accounting (10 Hrs)


Basic issues studied in macroeconomics.
Measurements of Gross Domestic Product - income, expenditure and the circular flow; related
aggregates; real versus nominal GDP; price indices; national income accounting for open
economy, balance of payments accounts; current, capital and financial accounts.
1) Abel, Bernanke and Croushore: Chapter 1 (Sections 1.1)
2) Abel, Bernanke and Croushore: Chapter 2
3) Abel, Bernanke and Croushore: Chapter 5 (Section 5.1, pg. 165-176)
UNIT – II: Money (10 Hours)
Concept of money in a modern economy; monetary aggregates; functions of money; demand
for money; money supply and credit creation; monetary policy tools.
1) Abel, Bernanke and Croushore: Chapter 7 (Section 7.1 Only)
2) Blanchard: Chapter 4
Unit 3: Simple Theory of Income Determination (11 Hrs)
Classical & Simple Keynesian model of income determination; Actual and potential GDP;
aggregate expenditure; consumption function; investment function; equilibrium GDP; Concept
of the multiplier; government sector and impact of changes in government expenditure and
taxes.
1) Abel, Bernanke and Croushore: Chapter 1 (Section 1.3)
2) Dornbusch, Fischer and Startz: Chapter 9
Unit 4: IS-LM Analysis and Aggregate Demand (14 Hrs)
Derivation of IS-LM Curve; Fiscal and Monetary Multipliers; Derivation of Aggregate
Demand.
1) Dornbusch, Fischer and Startz: Chapter 10 (excluding Section 10.5)
2) Dornbusch, Fischer and Startz: Chapter 11 (Sec. 11.1 to 11.3)
Assessment:
1.Internal Assessment (IA): 30 marks - one class test and another test or presentation (12 marks
each) and 6 marks for attendance.
2.Continuous Assessment (CA): 40 marks - projects, presentations etc. (35 marks) and 5 marks
for attendance.
3. The end semester exam: 90 marks will comprise numerical and other questions.
Suggested Weightage for each unit in the final examination
Unit 1 - 25 marks
Unit 2 - 20 marks
Unit-3 & 4 – 45 Marks

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