This course aims to introduce advanced macroeconomic theory and policies. It deals with the main principles of the determination of real income, employment, price level and exchange rates. It provides an understanding of the contending macroeconomic theories, including the Classical, Keynesian, Monetarist, Real Business Cycles and Dynamic Macroeconomics. The course discusses macroeconomic policies, as also the challenges in implementing them in a globalized economy.

This course aims to introduce advanced macroeconomic theory and policies. It deals with the main principles of the determination of real income, employment, price level and exchange rates. It provides an understanding of the contending macroeconomic theories, including the Classical, Keynesian and Monetarist analyses. The course discusses macroeconomic policies, as also the challenges in implementing them in a globalized economy.

Major economic problems. National income accounting. Expenditure and income approaches to GNP. Measuring inflation and unemployment. Determination of the equilibrium level of income. Consumption function. Investment demand. Aggregate demand and equilibrium output. The multiplier process. Government sector. Fiscal policy. Tax receipts and Transfer payments. Foreign spending. Money, interest and income. Functions of money. Definition of money. Reserve Bank of India and Commercial Banks. Creation of money. The instruments of monetary control. The demand for money. Investment expenditure and rate of interest. The IS curve. Money market and the LM curve. Liquidity trap. The IS-LM model. Derivation of the aggregate demand curve. Monetary and fiscal polices. Keynesian versus monetarist views. The aggregate supply function: Keynesian and classical. Inflation and unemployment. Stagflation. The Phillips curve. The long-run Phillips curve. Inflation expectations. The rational expectations.

This is a graduate course in development economics from macroeconomic perspective. The objective of the course will be to understand topics of interest in the intersection between development economics and applied macroeconomics. The course requires basic understanding of the workhorse models of modern macroeconomics and some applied skills at the level of intermediate econometrics.

The primary objective of this course is to provide an introduction to the study of labour markets with particular emphasis on India.

The course aims to introduce the students to broad issues of development, particularly from an Indian or developing country context. The topics covered in the course relate to not only issues of economic development but also other hurdles faced by developing societies, which have deeper historical and political roots. The course will equip the students with a good understanding of the problems of development, and provide them a larger perspective to the economic theories they will learn in other courses.

Current economic problems. Alternative economic systems. An overview of the economy. The market mechanism. National product and income. Consumption, savings and investment. Determination of national income. Aggregate demand and supply. Fiscal policy. The nature of money and monetary policy. Inflation and unemployment. Basic concepts of price theory. Determination of price by supply and demand. Elasticity of demand and supply. Theory of production. Theory of costs. Pricing in competitive and monopoly markets. The gains from international trade. Theory of exchange rates. Balance of payments. Economic growth, and development. Inequality and poverty.

This course deals with international trade and finance, covering both the theoretical models and policy experiences. The course will help students understand questions such as how and why countries trade with each other and on how the globalization of finance poses challenges to macroeconomic policymaking. It will also cover historical and contemporary issues in in-ternational economics.

Basic concepts of national income accounting, money, and balance of payments; output and exchange-rate determination under fixed and flexible exchange-rate regimes; fiscal and monetary policies in an open economy; international capital movements and their impacts; Case Studies: East Asian crisis, global financial crisis; theories of international trade including factor-proportions and economies of scale; the international trading regime and its implications for developing countries.

The course provides a graduate level introduction to Industrial Organization. It is designed to provide a broad introduction to topics that current researchers are studying in the areas of industrial organization. It will expose students to a wide variety of techniques in the area of industrial economics and applied game theory. The course will try to integrate theoretical models as well as empirical studies on industries.