The course surveys macroeconomic theory and its evolution through the use of rigorous mathematical and logical models. Macroeconomics primarily deals with the determinations and relations of five variables, namely: (i) Gross Domestic/National Product, (ii) Employment/unemployment, (iii) Price Level/Inflation-Deflation, (iv) Balance of Payments and the exchange rate and (v), Growth. The focus of this course is mainly on short run macroeconomics. The course is primarily designed to give an exposure to the students of the developments in macroeconomic theory during the 20th century since Keynes’s important contribution to economics in 1936, by developing the key ideas of aggregate demand and liquidity preference. It will also introduce students to the macroeconomics of developing economies, sometimes called ‘structuralist macroeconomics’ as part of the course.