Hyderabad University

indian macroeconomics

The following are resources from a three-part special lecture series conducted by Prof. G. Omkarnath at the School of Economics, University of Hyderabad between August - October 2016. The title of the series was 'Indian Macroeconomics'.

This lecture series was initiated by volunteers of the Young Economists' School (School of Economics, University of Hyderabad). The objective was to apply the theories of economics (from various systems of economic theory) to the Indian Economy and see whether they survived the test of reality, along with taking different empirical approaches of growth economics, development economics, labour economics, demography, political economy, and macroeconomics. The idea was to develop a theoretical framework (based on empirical data) for understanding aspects of the Indian Economy like composition & growth of output, structure of the economy & employment, and prices and inflation. The hypothesis behind this objective was that India can not be classified as a true capitalist economy unlike the US, UK, Germany, etc. and hence, standard economic theory would not always give consistent and robust results, which was evident from the data collected and from statistics thus derived. The achievement was that although a theoretical framework for the Indian macroeconomy was not arrived at, learners gained an insight into how the issue could be approached in a manner different from (and perhaps better than) the conventional one.

Though the lectures were taught by Prof. Omkarnath, the slides were prepared and notes jotted down (during the lectures) by volunteers from The Young Economists' School, including Ms.Disha Khandelwal, Mr.Gaurav Bansal, and yours truly.

1. Output Composition and Sectoral Contributions in India 1990-2011. [Slides] [Lecture Notes]

2. Employment in the Indian Economy - Theory and Trends 1990-2011. [Slides 1, Slides 2] [Lecture Notes]

3. Prices and Inflation in the Indian Economy - Theory and Trends 1990-2011. [Slides] [Lecture Notes]