Macroeconomics II (HSL612)
Credit
4.00 (L-T-P: 3-1-0)
Department / Center / School / Unit
Course Objectives
Primary objective of this course is to introduce students with the process of economic growth and the long run sources of differences in economic performances across nations. Emphasis will be placed on developing theoretical toolkit in understanding growth mechanics. It is intended that this course will make students learn some of the workhorse models in modern macroeconomics, namely - Solow-Swan model, endogenous growth models, Ramsey and dynamic macroeconomic models, heterodox models, etc.
Course Contents
The course aims to develop an understanding of the process of economic growth and income distribution in an economy. Historical and contemporary experiences of countries on growth and developmental outcomes will be dealt with in this course. The impacts of capital accumulation, technological progress, and international trade on economic performance will be discussed. Further, this course will focus on how global capital movements, domestic institutions and political economy can affect economic growth and development.
Suggested References
1. Daron Acemoglu, Introduction to Modern Economic Growth, First Edition, Princeton University Press, 2008.
2. Robert J. Barro and Xavier I. Sala-i-Martin, Economic Growth, Second Edition, MIT Press, 2003.
3. Grossman, Gene M., and Elhanan Helpman, Innovation and Growth in the Global Economy, Reprint Edition, MIT Press, 1993.
4. David Romer, Advanced Macroeconomics, Fourth Edition, McGraw-Hill Education, 2011.
5. Lance Taylor, Reconstructing Macroeconomics: Structuralist Proposals and Critiques of the Mainstream, Harvard University Press, 2008.
6. Lance Taylor, Maynards Revenge: The Collapse of Free Market Macroeconomics, Harvard University Press, 2010.
7. Piketty Thomas, Capital in the Twenty-First Century, Harvard University Press, 2014.
8. Patnaik, Prabhat, The Value of Money, Columbia University Press, 2009.
Apart from text book, readings from published journal article will be suggested during course.