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BA Economics (H) Semester III
Intermediate Macro Economics - I ( ECON - 008 )
Join Best Online Coaching for Intermediate Macro Economics – I (Econ – 008) for BA Economics (H) Semester III, Delhi University 2026 at Prime Academy under the guidance of our highly experieced teacher Mr. Dheeraj Suri, (an expert faculty teaching Economics for over 25 years).
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Quick Links for Intermediate Macro Economics – I
The Intermediate Macro Economics – I ( ECON – 008) Course for BA Economics (H) Semester III, Delhi University, has been taught by Mr. Dheeraj Suri. The Video Lectures are based upon the books prescribed by the University of Delhi. The duration of video lectures is approximately 45 Hours.
💻🎥 Full Course Video Lectures : Unlock the ultimate learning experience with our Full Course Video Lectures that explain every concept clearly and in depth. Our video lectures cover everything —
✅ All theory portions explained in detail
✅ Complete solutions for end-of-chapter questions
✅ Fully solved previous year papers
✅ A huge collection of numerical problems for thorough practice
📚 PDF Notes : You’ll also get Complete Study Material (PDF Notes) packed with:
✅ Key concepts explained in simple language
✅ Previous Year Questions from Last 20 Year Papers
✅ Practice Numericals & MCQs
✅ A curated list of Important Questions for your exams
✍🏻 Live Online Classes : Stay on top of your preparation with Live Online Doubt-Solving Sessions with expert faculty at least twice a week, ensuring you never stay stuck.
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📝 Mock Test : Test yourself with Regular Mock Tests hosted right on our website to track your progress and improve consistently.
✍🏻Comprehensive Coverage of Syllabus and Exam Oriented Preparation
🎯 This online coaching platform aims to provide a supportive and engaging learning environment for students to achieve academic success and excel in their Economics (Honours) program.
Recomended Readings
1. Blanchard, O. (2006). Macroeconomics, 4th ed. Pearson Education.
2. C.L.F. Attfield, D. Demery and N.W. Duck (1991), Rational Expectations in Macroeconomics: An Introduction to Theory and Evidence, 2e.
3. Sheffrin, Steve (1996), Rational Expectations, 3e, Cambridge University Press.
4. Jones, Charles (2018), Macroeconomics, 4e, W W Norton & Co.
5. Branson, William H (2005), Macroeconomic Theory and Policy, 3e, East-West Press.
Intermediate Macro Economics – I (Econ – 008) Introduction Video
Chapter 1 : Labour
Lecture 1 : Labour Introduction
Lecture 2 : Wage Setting & Price Setting
Lecture 3 : Natural Rate of Unemployment
Mock Test Solution on Labour
Chapter 6 : Expectations
Lecture 1 : Adaptive Expectations
Previous Year Questions (PYQ’s)
PYQ 2024 Q1
PYQ 2024 Q2
These Lectures are only for Demo
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These PDF Notes are only for Demo
For Complete Course PDF Notes you need to Subscribe Our Course
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These Mock Tests are only for Demo
For Complete Course Mock Test Series you need to Subscribe Our Course
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1. Semester-end Examination: 90 marks.
The question paper will have roughly equal weightage from all three units.
The paper will consist of three sections of 30 marks each:
• Section A will have 15 MCQs/one-line-answer questions of 2 marks each, with no choice of any kind.
• In Section B students will be required to do any 6 out 8 questions of 5 marks each.
• In Section C students will be required to do any 3 out of 4 questions of 10 marks each.
Upon receipt of Course Fee, we will activate your account on our website.
Once you get Access you need to login and download our APP and all the lectures from your login account and play in your device.
Access of Video Lectures is provided on any one of the following devices :
Windows Computer or Laptop or,
Android Phone or Tablet or,
Apple Iphone or Ipad or,
Apple Macbook
Till end of Semester III Exams
IS LM Revision
Chapter R1 : Income & Spending
Duration of Video Lectures : 117 Minutes
Based Upon Chapter 9 Dornbusch, Fischer & Startz
Topics Covered
R1.1 ►Aggregate Demand and Equilibrium Output,
R1.2 ►The Consumption Function & Aggregate Demand,
R1.3 ►The Multiplier in Two Sector Economy,
R1.4 ►Equilibrium Output and the Multiplier in Three Sector Economy,
R1.5 ►The Budget, The Full Employment Budget Surplus
Chapter R2 : IS – LM Model
Duration of Video Lectures : 230 Minutes
Based Upon Chapter 10 Dornbusch, Fischer & Startz
Topics Covered
R2.1 ►The Goods Market and the IS Curve, Graphical & Algebraic Derivation of the IS Curve, Slope of IS Curve, Shifts in the IS Curve,
R2.2 ►The Money Market and the LM Curve, Graphical & Algebraic Derivation of the LM Curve, Slope of LM Curve, Shifts in the LM Curve,
R2.3 ►Simultaneous Equilibrium in the Goods and the Money Market,
R2.4 ►Deriving the Aggregate Demand Schedule, Fiscal Policy Multiplier & Monetary Policy Multiplier
Chapter R3 : Monetary & Fiscal Policy
Duration of Video Lectures : 304 Minutes
Based Upon Chapter 11 Dornbusch, Fischer & Startz
Topics Covered
R3.1 ► Monetary Policy, The Transmission Mechanism, The Liquidity Trap, The Classical Case,
R3.2 ► Fiscal Policy & Crowding Out, Effect of Expansionary Fiscal Policy under Liquidity Trap and Under Classical Case, Accommodating Monetary Policy,
R3.3 ► Policy Mix,
Semester III Syllabus Starts From Here
Unit I : Short Run and Medium Run Equilibrium
Chapter 1 : Labour Markets
Duration of Video Lectures : 145 Minutes
Number of Video Lectures : 4
Based Upon Chapter 6 Olivier Blanchard
Topics Covered
►Meaning of Labour Force, Unemployment, Labour Force Participation Rate,
►Wage & Price Determination,
►Wage Setting & Price Setting Relation,
►The Natural Rate of Unemployment,
Chapter 2 : Aggregate Supply
Duration of Video Lectures : 199 Minutes
Number of Video Lectures : 2
Based Upon Chapter 7 Olivier Blanchard
Topics Covered
►Derivation of Aggregate Supply Curve, Properties of Aggregate Supply Curve,
►Derivation of Aggregate Demand Curve, Properties of Aggregate Demand Curve,
►Equilibrium in Short Run & Medium Run,
►Effects of Demand & Supply Shocks,
Unit – II : Philips Curve and Theory of Expectations
Chapter 3 : Phillips Curve
Duration of Video Lectures : 142 Minutes
Number of Video Lectures : 2
Based Upon Chapter 8 Olivier Blanchard
Topics Covered
►Relation Between Inflation, Expected Inflation & Unemployment,
►The Phillips Curve,
►The Modified Phillips Curve,
►Non-Accelerating Inflation Rate of Unemployment (NAIRU),
►Variations in Natural Rates Across Countries & Over Time,
►Wage Indexation,
Chapter 4 : Okun’s Law
Duration of Video Lectures : 170 Minutes
Number of Video Lectures : 3
Based Upon Chapter 9 Olivier Blanchard
Topics Covered
►Okun’s Law, Phillips Curve & Aggregate Demand Relation,
►Short Run & Medium Run Effects of Money Growth,
►Disinflation, Sacrifice Ratio,
►Expectations and Credibility : The Lucas Critique,
►Nominal Rigidities and Wage Contracts,
Chapter 5 : Nominal & Real Interest Rate
Duration of Video Lectures : 50 Minutes
Number of Video Lectures : 1
Based Upon Chapter 14.1 Olivier Blanchard
Topics Covered
►Inflation,
►Nominal & Real Interest Rate & IS-LM Curves,
Chapter 6 : Expectations
Duration of Video Lectures : 145 Minutes
Number of Video Lectures : 2
Based Upon Attfield, Demery & Duck
Topics Covered
►Expectations Introduction,
►The Adaptive Expectations Hypothesis,
►The General Criticism of Adaptive Expectations Hypothesis,
►The Rational Expectations Hypothesis,
►The General Characteristics of Rational Expectations Hypothesis,
►The General Criticism of Rational Expectations Hypothesis,
Chapter 7 : Inflation & Unemployment
Duration of Video Lectures : 152 Minutes
Number of Video Lectures : 2
Based Upon Steven Sheffrin
Topics Covered
►Phillips Curve & Modified Phillips Curve,
►Lucas Account of Business Cycle,
►Signal Extraction Problem,
►Policy Ineffectiveness Proposition,
Unit – III : Micro Economic Foundations of Macroeconomic Behaviours
Chapter 8 : Consumption
Duration of Video Lectures : 250 Minutes
Number of Video Lectures : 5
Based Upon Chapter 12 Branson
Topics Covered
►Consumption Puzzle,
►Intertemporal Consumption Function,
►The Life Cycle Hypothesis,
►The Permanent Income Approach,
►The Rational Expectations,
Chapter 9 : Investment
Duration of Video Lectures : 120 Minutes
Number of Video Lectures : 6
Based Upon Chapter 17 Jones
Topics Covered
►Desired Capital Stock & rental Cost of Capital,
►Financial Investment,
►Tobin’s Q,
►Components of Investment,
Solutions of Previous Year Papers
Topics Covered
2025 Paper
Duration of Lectures : 130 Minutes
2024 Paper
Duration of Lectures : 130 Minutes
2023 Paper
Duration of Lectures : 120 Minutes
2022 Paper
Duration of Lectures : 120 Minutes
2021 Paper
Duration of Lectures : 110 Minutes
2020 Paper
Duration of Lectures : 100 Minutes
2019 Paper
Duration of Lectures : 100 Minutes
2018 Paper
Duration of Lectures : 120 Minutes
Syllabus for Intermediate Macro Economics – I as Prescribed by University of Delhi
DISCIPLINE SPECIFIC CORE COURSE -8 (DSC-8) : Intermediate Macroeconomics – I (Foundations of Aggregate Income Determination)
Course Description
Learning Objectives
The Learning Objectives of this course are as follows:
- This course builds upon the basic concepts of macroeconomics. It introduces labour markets and
the aggregate supply (AS) curve. - Aggregate Demand (AD) and Aggregate Supply (AS) are brought together to determine equilibrium
prices and output examine the policy impacts. - The course discusses Phillips curve and the alleged trade-off between inflation and unemployment.
Both adaptive and rational expectations are introduced. - A flavour of micro-foundations is introduced with respect to consumption and investment.
Learning Outcomes
The Learning outcomes of this course are as follows:
This course enables students to analyse the interaction of aggregate demand and supply and the effects of fiscal and monetary policy, trade-off between inflation and unemployment, and consumption and investment behaviour of the households.
Syllabus
UNIT I: Short-run and medium-run equilibrium (15 hours)
The labour market, Wage determination; wages, prices, and unemployment; natural rate of unemployment; from employment to output, Derivation of aggregate supply curve, Interaction of aggregate demand and supply to determine equilibrium output, price level and employment.
UNIT II: Philips Curve and Theory of Expectations (15 hours)
Inflation, unemployment and expectations, Phillips Curve; adaptive and rational expectations; policy ineffectiveness debate.
UNIT III: Microeconomic foundations of macroeconomic behaviours (15 hours)
Consumption: Keynesian consumption function; Fisher’s theory of optimal intertemporal choice; life-cycle and permanent income hypotheses; other theories of consumption expenditure. Investment: determinants of business fixed investment; residential investment and inventory investment.
Recommended readings
- Blanchard, O. (2006). Macroeconomics, 4th ed. Pearson Education.
- C.L.F. Attfield, D. Demery and N.W. Duck (1991). Rational Expectations in
Macroeconomics: an introduction to theory and evidence2nd Ed. - Sheffrin, Steve (1996). Rational Expectations. 2nd ed., Cambridge University Press.
- Dornbusch, R., Fischer, S. (1994). Macroeconomics, 6th ed., McGraw-Hill.
- Branson, W. (2013). Macroeconomics:Theory and policy, 3rd ed,EastWestPress.
- Carlin, W and D Soskice (2007), Macroeconomics: Imperfections, Institutions and Policies, Indian
Edition, OUP.
Economics (H) Semester III [ UGCF 2026 ]
Video Lectures, PDF Notes, Mock Tests & Live Doubt Sessions are offered for the following Subjects for BA (Hons) Economics Semester III, Delhi University