Description

Advanced Macroeconomics-III

TYBA Semester VI

Syllabus

Module 1 : Post Keynesian Synthesis (14 Lectures)
Derivation of Aggregate Demand Curve with IS-LM – Aggregate Supply Curve – Determination of Equilibrium National Income and Price Level under Aggregate Demand and Aggregate Supply Model – Extension of IS-LM Model with Labour Market and Flexible Prices – Natural Rate of Unemployment- Long run Phillips Curve – Friedman’s Expectation Model – Tobin’s Modified Phillips Curve – Adaptive Expectations and Rational Expectations.

Module 2 : Trade Cycles (12 Lectures)
Meaning- Nature – Features and Types of Trade Cycles – Phases of Trade Cycles – Theories of Trade Cycles – Hawtrey’s, Kaldor, Paul Samuelson and Hicks – Measures to Control Trade Cycles.

Module 3 : Exchange Rate Regimes and Currency Crises (12 Lectures)
Managed Exchange Rate – Advantage and Disadvantage – Policy of Managed Flexibility – Adjustable Peg System, Crawling Peg System, Managed Floating System, Clean and Dirty Float System – Balance of Payment and Exchange Rate – Is Balance of Payments Always in Balance? – Convertibility of Currency – Currency Crisis – Causes, Impact and Measures.

Module 4 : International Monetary System (12 Lectures)
Rise and Fall of International Gold Standard – Bretton Woods System- Breakdown of the Bretton Woods System – Monetary System after the Collapse of Bretton Woods System – Maastricht Treaty, Features, Effects and Importance of Euro-Currency Market – Causes and Consequences of Global Economic Crisis – Impact of Global Recession on the Indian Economy – Asia Infrastructure Investment Bank (AIIB) – New Development Bank (NDB) : Asian Development Bank (ADB).