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Macroeconomics concerns itself with the economy as a whole. Monetary and fi scal
policy are its tools. Gross Domestic Product (GDP) and its growth is a measure of
the success or failure of macroeconomic policy. The author of this lesson, Dr. Shyamal Roy of IIMB,
defi nes the constituents of GDP. What is real GDP? How does it concern business
and industry? What happens under infl ationary and recessionary conditions? Does
it matter how much money is fl oating around? Is it necessary for governments to
be prudent in the matter of their spending? Ml, M2, and M3, what are they? How do
interest rates affect savings and investments? This lesson answers all these questions.
From the perspective of an industry manager this lesson also illustrates the issues
of aggregate demand, aggregate supply, SLRs, and CRRs. The RBI act of walking the
tightrope, of investments, savings and infl ation, will be appreciated. Do we know
what is right for a developing economy? How do we compare with others in the developing
world? What’s right for the North may not be right for the South. Emerging trends
in monetary and fi scal policy are dealt with.
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25 Mins
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25 Mins
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50 Pages
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Equivalent classroom time: 5hrs
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