Indian Institute of Technology Jodhpur
Office of Academics
NH65, Nagaur Road, Karwar, Jodhpur 342037, INDIA
The course and timings
Course Number and Title LAL6080: Principles of Macroeconomics
Lectures Days Monday, Wednesday and Friday
Time 12.00 to 12.50
Venue LHC2 103
Tutorials Days -
Time -
Venue -
Laboratory Days -
Time -
Venue -
Instructor(s)-
Name Email Department Contact Number Office Address
Course Coordinator
Gopakumar K U gopakumar@[Link] School of Liberal Arts 0291-280-1421 Room No. 12, SoLA
Co-Instructor
Tutors
Office Timings during the week: For any doubts or clarifications regarding the course, you could meet me in
my office between 10.00 AM to 1.00 PM on Tuesdays and Fridays.
Contact details of Teaching Assistants (TAs): Please contact the TAs for any query related to the course or
attendance.
Name of the TA Contact details
Alan Joy p22hs001@[Link]
Lecture-wise detailed course content as approved by the Senate:
Title Principles of Macroeconomics Number LAL6080
Department School of Liberal Arts L-T-P [C] 3-0-0
Offered for UG, PG Type Core
Prerequisite None
Objectives
1. Structure, functioning and regulation of the economy
2. Economic principles underlying the goods market, money market and labor market.
3. Role of fiscal policy and monetary policy
4. Simple macroeconomic models to analyze an economy and to mathematically derive the effects of exogenous
shocks on output, employment and the price level
5. Economic debates on macroeconomic policy, basics of data and empirical evidence
6. Basics of dynamic aspects of macroeconomics; growth models
Learning Outcomes
1. Demonstrate a basic understanding of the macroeconomic topics mentioned above
2. Evaluate how changes in technology, government regulation, and market circumstances may impact
society 3. Analyze effects of fiscal policy and monetary policy on the economy
4. Familiarity with basics of data and empirical evidence
5. Understand the basics of dynamic aspects in macroeconomics
Course Content
• Introduction and Overview, National Income Accounting
• Growth and Accumulation Growth and Policy Aggregate Supply and Demand Aggregate Supply: Wages, Prices,
and Unemployment , Inflation and Unemployment
• Income and Spending: Aggregate Demand and Equilibrium Output, The Consumption Function and Aggregate
Demand, Multiplier , Government Sector, Budget , The Full-Employment Budget Surplus
• Money, Interest, and Income: Goods Market and the IS Curve, Money Market and the LM Curve Equilibrium in
the Goods and Money Markets, Deriving the Aggregate Demand Schedule A Formal Treatment of the ISLM
Model
• Monetary and Fiscal Policy: Monetary Policy, Fiscal Policy and Crowding Out, Composition of Output and the
Policy Mix, Policy Mix in Action
• International Linkages: Balance of Payments and Exchange Rates, Exchange Rate in the Long Run ,Trade in
Goods, Market Equilibrium, Balance of Trade Capital Mobility ,Mundell-Fleming Model: Perfect Capital
-Mobility under Fixed Exchange Rates Perfect Capital Mobility and Flexible Exchange Rates
• Big Events: Crisis, Economics of Depression, Hyperinflation, and Deficits International Adjustment and
Interdependence
• A Glimpse of Empirical evidence on models
• Growth Models: An Introduction
Text Books:
1. William Branson, Macroeconomic Theory and Policy, 3rd Edition, East West Press, 2022
Reference Books:
1. Dornbusch, Rudiger, Stanley Fischer, and Richard Startz. Macroeconomics. McGraw-Hill Series. 11th
ed. 2. David Romer, Advanced Macroeconomics. McGraw-Hill Series. 4th ed.
Online Course Material:
1. [Link]
Evaluation policy for the course:
Components Weightage (%) Date and Timings Remarks
Assignments 25% Will be Assignments would be data driven
(Two communicated later and students are supposed to
assignments analyze data relating to policies and
and a make
presentation of interpretations.
10 marks each)
Quizzes
Minor 25% As per the Written Examination
academic
calendar
Major 50% As per the Closed Book, Written examination.
academic
calendar
Projects
……
…...
Guidelines for Examination: Will be communicated later.
Attendance Policy: Attendance for the course is compulsory. It will follow the updated guidelines prescribed
in the circular, No. IITJ/OAA/Circular/2024-25/51/682 dated 08/July/2024. Weekly attendance report will be
available with the TA.
Any other relevant information: The overall objective of this course is to understand how an economic
system works at a macro level and to provide you with an analytical framework grounded in economic
theory that would be useful to undertake policy studies.
