COURSE DESCRIPTION (DETAILED)

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REVISION HISTORY
Sr No Date Details of Revision Reason for revision
1 14.02.2020 Baseline NAAC version NAAC compliance

NOTES:
1. For defining course outcomes, ask yourself what the most important things a student should know (cognitive), be able to do (skills), or value (affective) after
completing the course/program.
2. Checklist for each course outcome: is the learning outcome measurable? Is the learning outcome student-cantered? Does the learning outcome match
instructional activities and assessments?
3. Teaching-Learning strategies refer to an appropriate combination of Lectures, Case Studies, Class assignments, Solo Projects, Group Projects, MOOCs, etc.
4. Learning resources can include: text books, case studies, research papers, videos, websites, articles, etc.
5. Try to limit the number of modules to a reasonable number (typically 3-4 for a course with three lecture hours per week, 4-5 for a course with four lecture hours
per week)
6. Each course should have at least one section on textbooks or reference books. For the foundation courses, it is mandatory to give text books. The text books shall
be indicated as in the examples given below:
a) Wayene Wolf, Modern VLSI Design: IP-Based Design (4th ed.), Prentice Hall, 2008. ISBN 978-0137145003, ISBN 0137145004.
b) Ivan Sutherland, Robert F. Sproull and David Harris, Logical Effort: Designing Fast CMOS Circuits, Morgan Kaufmann, 1999. ISBN 978-1558605572, ISBN
1558605576.

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COURSE CONTEXT
SCHOOL School of Law VERSION NO. OF CURRICULUM
THAT THIS COURSE IS A PART OF
DEPARTMENT DATE THIS COURSE WILL BE 11 Jan 2020
EFFECTIVE FROM
DEGREE BALLB VERSION NUMBER OF THIS
COURSE

COURSE BRIEF
COURSE TITLE Economics-II PRE-REQUISITES None
COURSE CODE TOTAL CREDITS 5
COURSE TYPE Core L-T-P FORMAT 5-0-1

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COURSE SUMMARY
The course aims to introduce students to the theories of macroeconomics and teach them to apply these theories to understand the economic
growth and development of India. It seeks to offer an analytical introduction to the main aspects of economic policy and performance in post
independent India. The course is expected to enable the students to appreciate the evolution of the economy, its institutional framework and
economic policy. The course will also help the students to understand the inter-related issues of growth and development.

COURSE-SPECIFIC LEARNING OUTCOMES (CO)

By the end of this course, students should have the following knowledge, skills and values:
CO1. an understanding of the fundamental concepts of macroeconomics and sectoral inter-linkages in an economy,
CO2. an understanding of the implications of government policies in terms of resulting economic performances
CO3. analyze and understand the macroeconomic environment that impact upon businesses, society and people

How are the above COs aligned with the Program-Specific Objectives (POs) of the degree?
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COURSE FLOW
Module 1: Introduction to Macroeconomics and National Income Accounting (10 hours)

 Basic issues studied in Macroeconomics;

 Measurement of gross domestic product; income, expenditure and the circular flow;
 Real versus nominal GDP; price indices;
 National income accounting for an open economy.

Module 2: Money and Inflation (10 hours)

 Functions of money; quantity theory of money; determination of money supply and demand; credit creation; tools of monetary policy.
 Inflation and its social costs; hyperinflation.

Module 3: The Closed Economy in the Short Run (15 hours)

 Classical and Keynesian systems;

 simple Keynesian model of income determination;
 IS-LM model;
 fiscal and monetary multipliers

Module 4: The Growth of the Indian Economy: 1950-51 -2019-20 (15 hours)

 Indian Economy at the time of Independence

 Planning in India
 Need and objectives of reforms in India,
 Economic Reforms – Liberalisation, Privatisation, Globalisation,

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  Major developments in Indian economy in the post reform period

Module 5: Issues in India’s Economic Development (15 hours)

 Poverty
 Demographic Challenge: Understanding Demographic Change in India, India’s population scenario
 Education
 Health
 Employment and Unemployment

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TEACHING-LEARNING STRATEGIES
Students will be encouraged to analyse and present the issues in Indian economy by debating on news and current issues.
Union Budget will be discussed in class

EVALUATION STRATEGY
a) Ongoing evaluation:
Regular quizzes and tests (20 marks)

b) Mid-terms: 20 marks

c) End-of-term: 35 marks

d) Others:

Term Paper on Contemporary Issues in Indian Economy (20 marks)

Class Participation: (5 marks)

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STUDIO WORK / LABORATORY EXPERIMENTS:

REQUIRED TEXTBOOKS/LEARNING RESOURCES:

Text books
Uma Kapila: India Economy Since Independence, Academic Foundation, 30th edition
Dornbusch, R and Stanley Fischer and R Startz, (2012, tenth edition) : “Macroeconomics”,
Tata McGraw-Hill

Videos
Video: https://www.youtube.com/watch?v=OB5ykS-_-CI
https://www.youtube.com/watch?v=NggRdopEd_Y
Union Budget
Rathin Roy: State Of Indian Economy: Video
https://www.youtube.com/watch?v=23s3QUpcL6U
Farmer Suicides in India: https://youtu.be/BzLIjeVbGX4
ted.com/talks/augie_picado_the_real_reason_manufacturing_jobs_are_disappearing?language=en
Ted Talk: Nandan Nilekani Ideas for India’s Future
Tim Jackson: An Economic Reality Check
https://www.ted.com/talks/tim_jackson_an_economic_reality_check?language=en

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SUGGESTED TEXTBOOKS/LEARNING RESOURCES:
A. Abel, B. Bernanke and D. Croushore (2014). Macroeconomics (8thedition), Pearson Education.
N. Gregory Mankiw (2013). Macroeconomics (8th edition).

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