Unit 1: short notes-10 mks: All CIA 1 questions What are intermediate targets of monetary policy and why

are they employed by monetary authorities? What is nominal gdp targeting and in what way does it smoothen out the conflict between ultimate price level and output targets What is time inconsistency? In what way it is an outcome of discretionary policy making? What are the properties of social welfare function that form the basis of central bank policy? Unit2:Q.2.:Short notes-10 mks: Distinguish between automatic and discretionary fiscal policy. Define intertemporal budget constraint of the govt. how is it related to debt sustainability. Define steady state. When is a steady state stable and wen is it unstable? Exp primary surplus and deficit with the help of a diagram What are fiscal rules? Explain types Short note- fiscal restructuring How elasticitiy of demand influence tax incidence How elasticity of supply influence tax incidence. Unit 3: Q.3.:Short notes(10 mrks): Discuss the features of Indian Money Market. Write a note on Treasury Bill Market in India. Distinguish between Money Market and Capital Market. Write a note on Commercial Bill Market in India. Discuss in brief the various Money Market instruments. Call money mkt-short note