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Online Courses: Indian Economic Services, IAS Economics Optional, UGC Net Economics

December 02, 2021
MACROECONOMICS (IAS-ECONOMICS)
MACROECONOMICS (IAS-ECONOMICS)

In this introductory lecture, I will discuss the syllabus of Macroeconomics in detail, as given by UPSC. Macro is given in Topic 2 and Topic 4 (Part c) in Paper I. Broadly there are following topics : Topic 2 : Advanced Macroeconomics Approaches to income and employment and interest rate determination Classical and Keynes (IS-LM) curve Neo Classical synthesis and New classical Theories of interest rate determination and interest rate structure Topic 4 : International Economics – Part c (i to vii) Balance of Payments Adjustments: Alternative Approaches. Price versus income, income adjustments under fixed exchange rates, Theories of Policy Mix Exchange rate adjustments under capital mobility Floating Rates and their Implications for Developing Countries: Currency Boards. Trade Policy and Developing Countries. BOP, adjustments and Policy Coordination in open economy macro-model. Speculative attacks Many people would argue that why to discuss International Economics within Macro, I feel, this part of Topic 4, is purely macro oriented and can be dealt better here than anywhere else. The initial part of Topic 4, is pure International Eco, which should be dealt separately.Moreover, we did BOP, purely as a part of Macro in our undergrad years, though there was some spillover in International...