Standardized Outline for Courses

Part A: Basic Details

Name of Course
(Kindly also mention the
Macroeconomic Theory and Policy (MTPBJ21-2)
course code – e.g., MGCH20-4 –
assigned by the Dean’s Office)
Course Instructor(s)
Prof. Arundhati Sarkar Bose (arundhatisb@xlri.ac.in)
(Please provide email id)
Academic Associate(s)
Jyoti Biswal (jyotib@xlri.ac.in)
(Please provide email id)

Area Economics

Program & Year

BM
(e.g., HRM 2020-22)

Term II

Type of Course
Core
(Core/Elective/Workshop)

Number of Credits 3

Number of Classroom Contact

30
Hours
Course pre-requisites
(if any, including cut-off grades Managerial Economics
in specific core courses)
Macroeconomics – by Olivier Blanchard 6th edition
Course Textbook

Course Handout to be Provided

Yes
(Yes/No)
No. of Sessions to be taken by
Nil
Guest Faculty
Name of Guest Faculty
(if identified) Nil
(Please provide email id)

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Part B: About the Course

Course Description Fundamental shift is occurring in the

business environment all over the world
and no nation can remain self-contained
entities. Even if a company does not do nor
conduct business internationally, one need
to be concerned about the business
development around the world as they may
directly affect its own business. Thus,
companies today operate in two
environments: domestic and international,
in which business managers must operate.
How well they perform in their
undertakings will depend in great measure
on their understanding of these three
environments. This course is designed to
help students understand and analyse
macro-economic environment in which
business unit operates. The basic premise
of the course is macroeconomic theories
and policy instruments and their
implications in understanding
macroeconomic environment of a
nation/state in which business units
operates.

Overall this course would make an attempt

that students are able to comprehend the
economic environment in which business
operates. Every business enterprise is
located in complex economic environment.
Understanding the business environment
will help the student to make better
managerial decisions related to his/her
enterprises and also help them decide
better competitive strategy. The excellence
in decision making cannot be achieved
unless one understands business
environment more particularly economic
environment. The business entity faces
variety of internal or external economic
socks. A good business decision maker
should not only have capacity to
understand and analyses it but also should
have capacity to anticipate and forecast

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 Standardized Outline for Courses

better future strategic business decisions.

Course Learning Objectives
Thus, the primary objective of the course is
to help students comprehend various
economic aggregates and variables and
help them understand their relationship in
national and international context.
1. To sensitize students, need for
understanding of macroeconomic
theories and policies;
2. To help students analyse complex
economic environment,
macroeconomic policies and its
implications for business strategy in
emerging environment; and
3. To equip students, understand open
economy macroeconomics, foreign
trade, competitiveness and productivity
and strategic trade theories and
policies.

Who is the course suitable for? It is a core course

(For electives only)

Part C: AOL - Learning Goals Mapping at the Course Level*

[Kindly note that two Learning goals - ‘Functional Knowledge’ and ‘Communication’ - are assessed
separately as stand-alone tests and hence not included in the list below!]

AOL Learning Goal (PLO) chosen Please put a tick mark

Decision Making 
Quest for Excellence 
Sustainability
Global Mindset 
Ethical Conduct
Please indicate the rationale for choosing the Response: This course will help the students to
specific learning goal(s) for this course understand how the economy as a whole work,
its problems, issues and role of policy makers in
solving the problem. For example, how 2007-09
global economic crisis occurred (global
mindset), how industry were affected and some
did well then others (quest for excellence) and
how the economy as a whole recover and what
way it affected business enterprises( decision
making).

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 Standardized Outline for Courses

*Description appended at the end of the document

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 Standardized Outline for Courses

Session Plan*

Chapters from Course Pedagogy

Session Textbook and Reading (Case Studies/in-class
Session Topic Course Learning Objectives
No(s) Material exercise/questionnaire/presentations)
(other than Case Studies)
1 Introduction to the course Visualization/ Decision Making, Specified chapter from the Lecture notes /cases/ class activities
on Macroeconomic Theory understanding the complexity of textbook and reading
and Policy environment in which business materials provided by the
decision are made course faculty.
2 Measurement of Economic -do- Do Lecture notes and class activities
Activity

3-4 Business Cycle and concern
of Macro-Economics
5-7 Demand side
macroeconomics and role of
Government in Economic
Management
8-10 Understanding the financial
system, role of money and
interaction of Goods and
financial market
11 Understanding of the labor
market
Visualization of economic Do Discussion based class on the
environment and its Foundation of Macro-Economic
consequences/short/medium/long Models AS/AD (Two reasons for
run macroeconomics economic fluctuation)
Visualization of Business problem Do i) Discussion based on chapter
developing and understanding relevant chapter
Macro economic theory Discussion based on economics survey,
budget of previous years.
Visualization about the role of Do 4. Discussion based on relevant
money in economy and chapter and Cases.
regulations.
Decision making and visualization Do 5. Discussion based on prescribed
of the problem chapter

12-13 Issues related to Decision Making –How inflation Do Discussion based on prescribed
Unemployment and distort decision chapters with examples /
Inflation 6. Cases

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14-15 Issues with fiscal deficit, Visualization of the problem do Discussion based on prescribed
debt burden and, debt crisis Decision making chapters with examples /
Cases

16-19 Open economy- Global Mindset Do Chapter based discussion, flow of

Macroeconomics Decision Making capital and goods, interest and
International Trade, Balance Visualization of international exchange rates and their impact on
of Payment, Exchange Rate business environment business.
management
20 Summary and Discussion on Decision Making Do Discussion on current or recent
the course Economic environment macroeconomic events and relating
Global Mindset those events to theories and analysis
discussed in the course.

Note: - The course instructor may modify the sequence of topics or coverage based on initial experience and the mid-course review.*

For Attendance Norms, please refer to section 10 of the Student’s Manual.

For Evaluation and Grading Norms, refer to sections 20, 21 and 22 of the Student’s Manual.

For Disciplinary Action, refer to sections 26 and 27 of the Student’s Manual.

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 Standardized Outline for Courses

Details of Evaluation Components

Evaluation Module Yes/No Weightage for the PLO sub-dimension Average Number of Hours of
Evaluation Component1 measured Work Outside the Classroom2
Mid-Term Yes 3 quizzes - Total of 60% Visualization of problem, Quest for 50 hrs. of study for class preparation
excellence and decision making and examinations
End-Term Yes 40% Decision making and global 20 hrs. of examination preparation
mindset. Understanding the
concept and theories.
Visualization, decision making, and
global mind set
Quizzes

Assignments

Class Participation

Presentation

NOTE FOR FACULTY (Kindly remove the portion starting from this section before uploading, as what follows is not a part of the course outline format):

1. As per XLRI policies, the maximum weightage for any evaluation module shall not exceed 40%.
Further, the end-term shall have a minimum weightage of 30%.
2. As per XLRI policies, the total contact hours per course for a student is in the ratio 30:70 (classroom contact hours: outside of classroom contact
hours). Kindly ensure that your course evaluation effort requirements are included within the total of 100 hours.
3. Please upload the course outline on the AIS at least one week prior to the beginning of the course.
A copy of the same must be sent to the Dean’s Office for recordkeeping.

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Appendix 1: Detailed Description and Rubrics of PLOs (available for faculty’s choice)
PLO: Decision Making
Definition: The ability to generate alternative solutions to a problem and take an integrated approach to purposefully narrow down to an optimum solution
Dimension Beginner
Visualization of Unable to visualize key attribute
problem (s) of the business problem.
Unable to comprehend what
information might be required to
analyse the business problem
under review.
Analysis of the Not sure as to what analytical
information tool might prove to be a useful
device in relation to the case
under consideration.
Fails to view the various
dimensions of the case through
multiple lenses
Narrowing on the Fails to adopt an integrated
solution approach while generating
solutions to the business
problem.
Is unable to distinguish among
fact, opinion, and value
judgments.
Fails to arrive at a concrete
decision
Standardized Outline for Courses
Minimally Competent
Visualizes the primary aspect of
the business problem with the
aid of available information but
fails to assess what additional
information might be required
for conducting the analysis.
Misses on related intricacies.
Can identify appropriate
analytical tool needed to analyse
the extracted information but
fails to analyse the extracted
information through multiple
lenses
Attempts to arrive at a solution
and tries to present the
arguments without addressing all
key considerations adopting an
integrated approach.
The decision arrived at ignores a
few key attributes.
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Competent
Visualizes various attributes of
the problem and extracts other
additional information which
might be handy in analysing
the problem
Identifies appropriate
analytical tool and executes
such critical analysis in a
satisfactory manner after
viewing the business problem
through multiple lenses of
same paradigm.
Generates alternative solutions
to the problem adopting an
integrated approach.
Subsequently, narrows down
to the set of optimum
management decisions.
Highly Competent
Visualizes latent attributes (viz.,
attributes that are not necessarily
evident) of the business problem and
able to connect the seemingly
unrelated facts to get a holistic view
of the problem situation.
Identifies appropriate analytical tool,
executes critical analysis in a
satisfactory manner and able to
adapt analytical tools from other
disciplines by questioning the implicit
assumptions made in the beginning.
Recognizes the definite or authentic
optimal solution by identifying and
rejecting the seemingly viable but
non-optimal solutions.

PLO: Quest for Excellence
Definition: The ability to constantly raise the bar in pursuit of higher standards
Dimension Beginner
Standards of Satisfied with the way things
performance are.
Focus is only on submissions.
Needs to be pushed.
Attends classes irregularly.
Inattentive in class with low
attention span. Does not
participate in class
discussions.
Continuous Makes little effort to update
learning oneself /learn.
Performance displays
downward slopes
Sharing of Does not share knowledge
information and with others.
knowledge Self centered in terms of his
learning and performance.
Aggressively dissuades
other’s participation in class.
Standardized Outline for Courses
Minimally Competent
Makes average demand on
oneself. Does not go beyond the
minimum requirement.
Attends classes but does not get
involved.
Participates in discussions but
does not start the discussions.
Takes interest only in familiar
areas.
Does put in an extra effort to gain
knowledge /skills/know-how.
Makes some effort to learn
Stays at the minimum acceptable
level
Neither dissuades nor encourages
the group.
Does not engage in negative
behaviour nor in supportive
behaviour.
Individualistic. Shares his/her
knowledge, information with
others only when asked.
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Competent
Makes a strong demand on oneself.
Sets high standards of performance
and ensures high standards of
work.
Always prepared and is involved in
the class.
Initiates discussions in class. Asks
questions to improve
understanding.
Keen to learn and update,
continuously improves with faculty
guidance.
Eager to learn from mistakes
Performance curve displays upward
slope but not consistently upward.
Coordinates work for the team.
Puts in effort to bring the group
together.
Guides and helps others in their
efforts to learn.
Highly Competent
Makes continuous effort to raise
the demand on oneself realistically.
Brings newer dimensions (e.g.,
illustrations, facts) to the class,
which directs and enhances the
discussion for greater
understanding.
Brings/reads additional
inputs/relevant readings going
beyond the mandatory reading
material.
Self-driven and improves
performance of oneself without
faculty guidance.
Keeps self-updated.
Performance curve displays sharp
upward slope that rises
consistently.
Leads and directs the team
Proactively shares information and
knowledge;
Motivates others to do the same.
 Standardized Outline for Courses

PLO: Sustainability Rubric (Earlier Stakeholder Sensitivity)

Definition: The ability to understand and appreciate Sustainable Development (in different contexts) and develop strategic responses for tangible value creation for all
stakeholders while ensuring inter & intragenerational equity

Dimension Beginner Minimally Competent Competent Highly Competent

Understand Sustainable
Development in different contexts
(society, governments, firm, industry,
business)
Stakeholder Analysis that includes
recognition of relevant stakeholders,
identification of their issues, and
analysis and response
Systems approach for Corporate
Sustainability (Creating synergies
across functional domains)
Fails to remember key
definitions, /concepts
related to sustainable
development
Limited ability to identify
relevant stakeholders
and/or their issues
Does not remember key
corporate sustainability
tools and framework
Remembers and
understands key
definitions/ concepts and is
able to apply in decision
making context
Able to identify
stakeholder issues and
partially address their
concerns
Remembers, understands
and is able to apply key
corporate sustainability
tools and frameworks
Able to analyse and evaluate
the role of managers in
fostering sustainable
development and corporate
sustainability
Able to analyse business -
sustainability interface*
through stakeholder analysis
Able to analyse and evaluate
results from application of key
sustainability tools and
frameworks
Able to design or create
integrated approaches to
sustainable development and
corporate sustainability
Able to create win-win
outcomes for all stakeholders by
developing comprehensive
strategic responses
Able to create or develop
strategic responses through
systems thinking after doing the
analysis and evaluation

* includes materiality mapping

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PLO: Global Mindset
Definition: The ability to analyse business problems from a global perspective
Dimension Beginner
Identifying Unaware of global economic, political,
Global legal, and cultural issues.
opportunity
Diversity and Realizes the importance of multi-
multi-cultural cultural perspective and diversity but
perspectives fails to develop ways and means to
integrate into planning.
Appreciates the idea to have multiple
perspectives but does so only
superficially without making any
deliberate attempt to do so.
Global Fails to identify data or information
structural plans necessary to develop global viewpoint.
Not able to conceptualize a global
structural plan.
Global-Local Fails to conceive interaction effects
interplay between Global & Local Strategy and
operations
Does not distinguish between Global
and local business setting, business
strategy & Operations.
Standardized Outline for Courses
Minimally Competent
Identifies Global opportunity, though
some aspects are incorrect or confused.
Gives some value to multi-cultural
perspectives and appreciates
importance of diversity but fails to see
it as a source of opportunity.
Ready to accept multiple perspectives
but does so by only integrating few
concepts and ideas not very different
from his/her own
Identifies Global structural Plans by
using most data or information
necessary to problem.
Partially differentiates between Global
& Local business settings, business
strategy and operations.
And is able to visualize some interaction
effects but superficially.
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Competent
Clearly identifies global
opportunity through
subsidiary, embedded, or
implicit aspects of the issue.
Gives high value to multi-
cultural perspective and
sees diversity as source of
opportunity.
Clearly establishes Global
structural Plans by using
data or information
necessary to problem
Clearly understand the
differences and consider the
Global –Local interaction
effects between the two.
Highly Competent
Identifies integral relationships
essential to look at the bigger picture
as an integrated whole.
Constantly challenges own
experiences and assumptions and
integrates multiple perspectives to
look at the bigger picture.
Uses multi-cultural dimensions to
arrive at decisions concerning
organisations
Able to integrate insights from global
data to enable decision making.
Presents argument for choosing a
particular approach for strategic and
operational decisions

PLO: Ethical Conduct
Definition: Recognizing ethical [what is "right"] elements of an action AND determining its moral worth.
Dimension Beginner
vaguely articulates ethical
Ethical Awareness dilemmas/complexities concerning
an action/decision/policy
vaguely justifies ethical decisions
Ethical Reasoning and procedures based on intuition
(hunch)
Standardized Outline for Courses
Minimally Competent
superficially articulates ethical
dilemmas/complexities concerning
an action/decision/policy
superficially justifies ethical
decisions and procedures based on
personal values
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Competent
reasonably articulates ethical
dilemmas/complexities concerning
an action/decision/policy
reasonably justifies ethical
decisions and procedures based on
values and well-established
principles
Highly Competent
comprehensively articulates
ethical dilemmas/
complexities concerning an
action/decision/policy
convincingly justifies ethical
decisions and procedures
based on values and well-
established principles