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Assurance of Learning AOL Specific

Indian Economy- Issues and Challenges
Sangita Kamdar, Souvik Dhar, Subhadip Mukherjee, Tanushree Mazumdar, Kalika Bansal
& FTMBA Trimester 3
CLOs – (in bracket state the PLOs to map)

CLO1) Understand the macroeconomic performance of Indian economy since 1950s to present
Learning times. (PLO2b)
Objectives CLO2) Critical understanding of the current macroeconomic scenario, issues challenges and
critical understanding and analysis of the macroeconomic policy stance and outlook of the
economy. (PLO2b)

After completion of the course,

1) The students would get informed about the macroeconomic performance of Indian economy
Learning since 1950s with greater focus on the economy’s performance since liberalization in the
Outcomes nineties

2) Students will develop a critical understanding of the economy’s present issues and will be able to
contemplate the future to reflect on the economy’s challenges

This course aims to get students informed about the macroeconomic performance of Indian economy since
independence with greater focus on the post liberalization period; hence to be able to understand the
economy’s present and focus on issues that have emerged; and hence to be able to contemplate the future
to reflect on the economy’s challenges. Thus, the teaching pedagogy of this course would rely heavily on
student presentation of each topic (from session 2 to session 7) at the beginning of the session each day
(first 40 minutes) which would then be followed up with class discussion (around 25 minutes) and
feedback by the faculty (around 15 minutes) to wind up the discussion. The presentation by the student
groups should focus on critically analyzing the topics while relating them to the macroeconomic theory and
policies learnt as part of the basic macroeconomic course of trimester 2.

Specific 3 1.5 AOL CLO CLO CLO CLO

assessment Credit Credit Instruments 1 2 3 4
methods (*)
Class Test Embedded
20 
End term group
Evaluation 20 Rubrics 
research project
Final Exam -
Total 100 50
*AOL Assessment Instruments:
 Embedded Questions: Quiz, Class Test, Midterm Examination, Final Examination
 Rubrics: Case & Article Discussion, Individual Assignment
Group Projects & Viva’s, Case Problem analysis, Oral and written
communication presentations, Role Play,
Group Presentation, Group Project etc.
Topics / Sub -
topics Chapter detail
Details of pedagogy adopted for class
Sessions Learning Outcome / Article Reference / Case Studies
engagement - Class Exercises etc.
if provided session
Broad overview of Readings: Discussion on the broad overview of
India’s the course as well as the broad
macroeconomic Growth Record of the Indian Economy, overview of India’s macroeconomic
performance since 1950-2008: A Story of Sustained Savings performance pre and post liberalization
independence with and Investment (Rakesh Mohan, EPW, with the help of a detailed discussion on
focus on post May 10, 2008). the listed readings.
liberalization period
of nineties India’s Recent Macroeconomic Allocation of topics to the groups for
Performance: An Assessment and Way presentations which would be done by
Forward (Muneesh Kapur and Rakesh students (group wise) subsequent
Mohan, IMF, 2014) sessions (sessions 2- 7) and briefing the
students on the guidelines for
preparation of the presentations.

India’s growth Readings: Students Group presentation on India’s

drivers – demand Growth Drivers. This would be
and supply side Growth and structural changes since followed by a discussion among
1951(Text - Chapter 8) students and final feedback and
summing up by the faculty.
2 India’s remarkably robust and resilient
growth story (Source:

India’s integration Readings: Briefing the students on End Term

into the world Research project followed by the
economy in trade in Foreign Trade and Trade Policy submission of the Research Proposal by
goods and in capital (Text - chapter 21) the end of the week
flows Balance of Payments
(Text - chapter 22) Students Group presentation on India’s
integration into the world economy in
Economics surveys (Source: trade in goods and in capital flows. This would be followed by a discussion
among students and final feedback and
summing up by the faculty.

Sectoral Readings: Students Group presentation on India’s

performances – sectoral performances – Review of
Review of Agriculture: role and Growth performance of agriculture, industry,
performance of Performance manufacturing and services. This would
agriculture, (Text – chapter 12) be followed by a discussion among
4 industry, Industrial Growth and Structure since students and final feedback and
manufacturing and 1951 summing up by the faculty.
services (Text – chapter 15)
Services in the Indian Growth Process
(Text – chapter 18)

India’s financial Readings Students Group presentation on India’s

sector – review of financial sector – review of its
its performance The Financial Sector: structure, performance. This would be followed
Performance and Reforms by a discussion among students and
(Text – chapter 20) final feedback and summing up by the

Economic Reforms Reading: Students Group presentation on
in India and its Economic Reforms, Economic Reforms in India and its
impact on Ramesh Singh - Chapter 6 impact on macroeconomic
macroeconomic performance. This would be followed
performance; Big Ticket Reforms in Past Four Years by a discussion among students and
6 introduction to the (Source: final feedback and summing up by the
big ticket and small faculty.
ticket socio government-launched-big-ticket-
economic programs reforms-in-past-four-years
(recent) in India

Analysis of the Readings: Students Group presentation on

impact of select Analysis of the impact of select socio
socio economic Economic Surveys and other materials economic programs on Indian economy
programs on Indian available from official sources based on recently published Economic
economy Survey 2019-2020. This would be
Articles from: followed by a discussion among
7 Bibek Debroy and Ashok Malik edited students and final feedback and
Capturing India’s Transformation Under summing up by the faculty.
Narendra Modi.
Demonetization and Black Money by
publications by C. M Rammanohar

Indian budget and Readings: Class room discussion on Indian budget

its impact analysis and its impact analysis on the different
on the different Newspaper and other official sectors and industries. The objective is
sectors and publications available during the time of to make a link between the Economic
industries budget. (Students would be informed and Survey and Indian Budget, to identify
shared with the materials to be used) the rationale of the presented Indian

Indian economy Readings Video & discussion on: BBC

and its policies documentary – China vs India: Race to
since liberalization From “Hindu Growth” to Productivity the Top of the World
and its comparison Surge: The Mystery of the Indian Source:
to China’s Growth Transition - Dani Rodrik and
Arvind Subramanian, IMF working NT9yVRRxg
paper, WP/04/77

Current Reading: Class discussion based on reading and

Macroeconomic videos
Policy stance and India Economy treading on thin ice
future (Source:
outlook /economy/asia-pacific/india-economic-

Watch videos:
10 India: 2019 Economic Outlook

Other relevant videos available at the

time of conducting the session

Reading List Text book
References Indian Economy Performance and Policies, Uma Kapila, 20th Edition, Academic Foundation,
(along with
details of year
of References
Indian Economy, Ramesh Singh, 10th Edition, McGraw Hill, 2018.
Other Research papers and articles as mentioned session wise above. These will be shared
with the students

Prepared by Faculty Team Area & Program chairpersons

Faculty Chair AOL Approved by Dean SBM

Approved by Associate Deans