How's my Luck now?

Reflections, views and descriptions during my stay at IIM Lucknow from July 2004 to March 2006

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Location: India

Wednesday, December 08, 2004

Macroeconomics

My favourite subject this term is, without doubt, Economics-II, which covers macroeconomics. The breadth of the subject and the great interplay of various forces resulting in profound outcomes is fascinating. I guess it's my quizzer's mindset which makes those subjects most interesting to me which have the largest scope, rather than the greatest depth. (This, of course, is not to say that macroeconomics has no depth). I intend to write something on this mindset and other issues shortly.
The term paper that we have to submit for the course is on the topic: 'Lessons in macroeconomic management from the East Asian crisis', and going through various research articles and websites on this topic has been a most interesting activity.
I don't understand the subject fully, though. Certain cause-and-effect patterns have completely escaped me and I am not sure whether I will be able to understand them in the future, but nevertheless...

1 Comments:

Blogger Naresh Mankad said...

Macroeconomics is a very interesting subject, though economics is not an exact science, because it deals sith the behaviour of human beings.

I had opportunity to read and refresh my knowledge of economics recently when I had the amazing facilities available in the USA. I read some of the books of John Kenneth Galbraith, who was a follower of Keynes. Since then I am trying to keep in touch with the debate on Keynesian economics, the arguments for and against Keynesian theory.

One of those Keynesians whose views you can read on current matters is Sudhir Mulji who writes in Business Standard. A debate about the relevance of Kenesian theory also came up. The macroeconomics is very important for policy makers inspite of its many shortcomings

3:57 AM  

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