Macroeconomics: Theory and Policy
This is a six-module course. The course starts with understanding basic accounts and indicators of an economy. It moves on to consumption, savings, and investment theories. Participants learn how aggregate demand and supply shifts affect overall economic outcomes such as growth and inflation. Then the focus shifts to the government, its fiscal policies, taxation, and its economic impact.
The course touches upon indicators like fiscal deficit, revenue deficit and primary deficit and looks at issues like fiscal sustainability and public debt and how they impact the economy. The course also explains the role of Central banks and the economy’s monetary policy. Various financial tools and policies are discussed and interest rates and liquidity available in the economy are contextualized. The last module deals with a country’s engagement with the world through trade and capital flows, where topics such as external sector accounts, imbalances that a country may have, exchange rates and capital flows are discussed.
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