- 5-Year B.A., LL.B. (Hons.)
- Nov 2019
- Core Course
Description of the course
This is an introductory course to the principles of macroeconomics and International trade theory applied specifically to India but incorporating comparative aspects as and when required to understand the working of policies.
The first part of the course will provide an insight into an understanding of the Indian Macroeconomy by a study of the real and measures of aggregate economic activity – economic growth, unemployment, inflation and money and banking. monetary and fiscal policy and the influence of such policies on the economy. In this process we also study the approaches of different ‘schools’ of thought including the Classical, Keynesian, Monetary, Rational and Supply Side approaches.
The second part will deal with the theory of international trade and instruments of trade policy. We shall learn both the classical theories of international trade as well as the ‘new’ approach. These theories will be used to assess the welfare impact of various trade policies. A brief introduction to the World Trade Organisation and its regulation of trade will also be covered.