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Pedagogy
The course will consist of lectures, conceptual discussions, case studies and presentations.
Participants are expected to come fully prepared with the assigned readings in the relevant chapters of the texts, cases and other referred materials.
The faculty will only act as facilitator.
Cellphones are to be fully switched off in the class.
Laptops are to be used only when required.
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Course Outline
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| Topics |
Hrs |
| Understanding The Economy : What is an economy? Participants of the economic system; Segments of economics; Classifications of economic system; Market Demand and Supply - demand and supply function; Demand and Supply Elasticities; Market Equilibrium. |
2 |
| Understanding Managerial Economics; Managerial decision making problems, Applicability and scope of managerial economics, Theory of a firm and its limitations - Expected Value Maximization Vs Growth Maximization, Profit measurements, Why do firms exists, Social impact of a firm |
3 |
| Fundamentals of Microeconomics: Monopoly and profit maximisation; Monopolistic Competition; Oligopoly; Cartels and Collusion; Pricing Theory; |
4 |
| Fundamentals of Macroeconomic Concepts : National Income and approaches to its computation (Introductory concepts only)Monetary and Fiscal policies; Multiplier and cascading effects implications to business and public policy (e.g.VAT); Types of Inflation; Role of Saving and Investments; (No mathematical computations) Union Budget and implications. |
6 |
| Linkages With Iinternational Economic System : Role of Foreign Trade: Balance of Trade, Balance of payments and their implications. International Debt, and Investments – links to public finance policies |
4 |
| Economic Forecasting- Macroeconomic and microeconomic applications; forecast techniques: qualitative, trend analysis, exponential and econometric methods; |
5 |
| Indian Economy Since Independence : Growth and changes; Review of economic policies. Current status of key sectors; Role of public enterprises; Major indicators such as GNP, Share of different sectors; Labour force; quality of life indices etc. |
3 |
| Shaping the Economy : Understanding "Development"; Alternatives for development; current debates; Review of development experiences of different systems. Role of the state, private initiatives and foreign participants. |
4 |
| Market Failure & Government Regulations |
3 |
| Current debates in the field of business economics |
6 |
| Presentations by students |
3 |
| Tests |
2 |
| Total Hours |
45 |
| Recommended Text(s): |
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| (1) Economic for Managers, Hirschey,Indian Ed,Thomson. |
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| (2) Macro Economics,Dornbusch & Fischer,6th Ed,Tata McGraw Hill. |
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| (3) Economic Development ,Todaro & Smith,8th Ed,Pearson Education. |
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| (4)Macro Economics, Dombusch, Fischer & Startz, 9th Ed,Tata McGraw Hill. |
| (5) Indian Financial System,Khan, 4th Ed,Tata McGraw Hill. |
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| (6) Microeconomics,H.Gravelle & R.Rees, , 2nd Ed,Pearson Education. |
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Course Schedule
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