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Subject: Macroeconomics and Business Environment

Academic Year: 2014-2015

Instructor: Dr. Bidisha Mukhopadhyay

COURSE DESCRIPTION AND OBJECTIVES:


Global phenomena, such as the process of European integration, trade liberalization in
China and India, and the international fragmentation of production chains, have increased
dramatically the degree of interdependence between countries. The aim of the course is to
study the macroeconomic consequences of these major developments in the world economy.
This course will provide students an exposure to Macroeconomics along with concepts and
theories that are necessary components of business planning and strategy. The global
Macroeconomic environment is in constant flux. Hence; it is not enough to study our
competitors, suppliers and customers, an effective business leader must understand how this
global business environment is changing and how it impacts business outcomes and policies.
The course combines instructor lectures with discussion sessions and problem-based
learning so that students both learn the concepts and apply them. Whether we make decisions
about marketing, finance, human resources, supply chains, or other areas of business, we are
constantly impacted by global macro.
This course will give an outline to global economy that means that all of this occurs in a
world of interconnected countries that trade goods, services, financial services and currencies.
For each topic, there will be a brief empirical motivation followed by a discussion of some of
the most influential papers in the recent literature.

DETAILED SESSION PLAN


Sl. No.

Topics

Hours

A.

Introduction
1. Key Concepts of Macroeconomic Indicators
2. Global Macro and the Current World Situation

B.

The Data of Macroeconomics


3. Measuring a Nations Income
4. Measuring the Cost of Living

C.

The Real Economy in the Long- Run


5. Production and Growth
6. Saving, Investment, and the Financial System
7. Unemployment

D.

Money and Prices in the Long- Run


8. The Monetary System
9. Money, Growth and Inflation

E.

Short-Run and Long-Run Economic Fluctuations


6
10. Aggregate Demand and Aggregate Supply
11. The Short-Run Trade-off between Inflation
and Unemployment
12. World Short-Run Supply Shocks in the Global
Economy
13. Long-Run Reforms for Developing and
Developed Countries in Asia, Latin America,
EU, U.S.A.

F.

Global Macro Economy and Business Environment


14. Monetary Policy in the World: EU vs. UK
15. Fiscal Policy in the World

G.

Introduction to International Trade and Exchange 4


Rates
16. The Current Account in Asia: China, Korea,
Japan and Southeast Asia
17. Financial and Capital Accounts in Emerging
Nations
18. Exchange Rates: Fluctuations in the value of
dollar

H.

Several Global Economic Crises (in the past and 4


present)
19. Causes, Consequences and Policy Reforms of
the Global Economic Crises
Total
33

READINGS
1. Contemporary Issues in Globalization: An Introduction to Theory and Policy in India
- Soumyen Sikdar. Oxford University Press.
2. Principles of Economics-N. Gregory Mankiw. 6th ed., 2011.
3. I.M.F. World Economic Outlook, latest edition.
4. Open Economy Macroeconomics- Dornbusch.
5. Macroeconomics-Dornbusch, Fischer, and Startz.
6. Indian Economic Survey.
7. Macroeconomic Outlook -R.B.I.
8. OECD Economics Bulletin.

EVALUATION
Mid Term Examination
End Term Examination
Quizzes
Assignments
Case Study Presentations

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