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This course provides a basic understanding of the overall components of economies which tend to be the key factor for taking decisions in a large scale. The course deals with theoretical models of Consumption, Savings, Investment alongwith key economic concepts like Inflation and Unemployment. This course will discuss the unique economic terms which dictate the working of economies all over the world.
After a course session ends, it will be archived.
The course starts with the understanding of the basic accounts and indicators of the economy. Then the course proceeds with the theories of consumption, savings and investment. Then we understand how shifts in aggregate demand and aggregate supply affect the overall economic outcomes such as growth and inflation. Then the focus shifts on the government and its fiscal policies, taxation and the sort of impact it has on economy. We touch upon indicators like fiscal deficit, revenue deficit, primary deficit and look at issues like fiscal sustainability and public debt and how they impact the economy. We also touch upon the role of Central banks and how it affects the monetary policy of the economy. We discuss the various monetary tools and policies and contextualise the interest rates and liquidity available in the economy. The last module deals with a country’s engagement with the world through trade and capital flows where we discuss external sector accounts, imbalances that a country may have, exchange rates and capital flows. This will help to look at an economy and its integration with the rest of the world.
Basic understanding of micro and macroeconomics
At the end of this course, you will:
Week 1: Basic accounts and indicators of our economy.
Week 2: Consumption and Savings
Week 3: Aggregate Demand and Supply
Week 4: Fiscal Policy
Week 5: Monetary Policy
Week 6: Open Economy
