A good grasp of microeconomics is vital for managerial decision making, for designing and understanding public policy. The course is intended to provide a good understanding and base to the students in applying the concepts and methods of microeconomics in the practical field. This course will equip the students to understand the various aspects of the traditional Microeconomic theory as well as the latest developments in this field and the applications of theories in analyzing current economic problems and to develop the ability to synthesize knowledge.
CO1: Identify the determinants of various macroeconomic aggregates such as output, unemployment, inflation, productivity and the major challenges associated with the measurement of these aggregates.CO2: Understand the theoretical foundation of macroeconomics and the contribution of different schools of thought to the further development of macroeconomics.CO3: Describe the main macroeconomic theories of short term fluctuations and long term growth in the economy.CO4: Analyse the existing idea of different schools of thought/ theories. To have some idea on why those theories have not been able to influence/ different economic conditions.CO5: Understand the factors influencing the Balance of Payment and analyse the cause of disequilibrium in the Balance of payment.CO6: Evaluate the consequences of basic macroeconomic policy options under differing economic conditions within a business cycle. 1e1e36bf2d