Macroeconomics

 GDP, growth and unemployment (Okun’s Law)

 Macroeconomic fluctuations: Short-run inflation rate and unemployment rate (Phillips
Curve); aggregate expenditure, savings and income; Non-Accelerating Inflation Rate of
Unemployment (NAIRU); Aggregate demand and inflation (ADI), Aggregate supply curve

Dornbusch, Rudiger, Fischer, Stanley and Startz, Richard. (2011). Macroeconomics. New York:
McGraw-Hill Education. (Chaps. 2, 3, 16, 17)

Mankiw, N. Gregory (2007), Economics: Principles and Applications, Delhi: South-Western.

(Chapter 13)

 Consumption spending, investment, government spending, exports and imports, derivation

of national accounting (simple and open economy), planned and actual expenditure,
multiplier effect (change in C, I, G),

Dornbusch, Rudiger, Fischer, Stanley and Startz, Richard. (2011). Macroeconomics. New York:
McGraw-Hill Education. (Chaps. 2, 3)

 Money, interest and Income: Goods market and IS curve; money market and LM curve Fiscal
and Monetary policy Impacts on outcome and interest

Dornbusch, Rudiger, Fischer, Stanley and Startz, Richard. (2011). Macroeconomics. New York:
McGraw-Hill Education. (Chapters 9, 10)

Mankiw, N. Gregory (2007), Economics: Principles and Applications, Delhi: South-

Western.(Chapters 4, 10)

 Trade balance, Exchange rate ISLM under Mundell- Fleming Model.

Mankiw, N. Gregory (2007), Economics: Principles and Applications, Delhi: South-Western.

(Chapters 5, 12)

Microeconomics
1. Imperfect Markets Monopoly & Monopolistic Competition Monopoly profits; price
discrimination; economies of scale and natural monopoly; product differentiation,
equilibrium with monopolistic competition; problem with natural monopoly; regulation and
cross-subsidization, concepts of industry and group

Samuelson, P.A. & Nordhaus, W.D. Economics, New Delhi: McGraw Hill. (2010). (Chapter 9)
Pindyck, Robert S. & Rubinfeld, Daniel L. (2015). Microeconomics. New York: Pearson. (Chapters
10, 11)

2. Oligopoly Collusion and cartel; entry deterrence and trade-off; equilibrium in the oligopolistic
market (Cournot and Stackelberg Model); strategic behaviour

Pindyck, Robert S. & Rubinfeld, Daniel L. (2015). Microeconomics. New York: Pearson. (Chapters
12, 13) Samuelson, P.A. & Nordhaus, W.D. Economics, New Delhi: McGraw Hill. (2010). (Chapter
10)