Course: Duration: Faculty: No of sessions: No of hours:

Economics for Managers 23 July to 14 November

20 40

CONTENTS 1. Faculty Contact 2. List of material required 3. Course description 4. Learning outcome
5. Pedagogy and evaluation

6. General guidelines 7. Session plan 8. Readings

1. Faculty contact:

2. Course material:

You are free to follow any textbook dealing with Macro-economics at the Bachelors level e.g. Paul Samuelson(2008), Economics,Tata McGraw Hill,International Edition; S.K. Misra andV.K. Puri, Modern Economic Theory, Himalaya Publishing House; Ruddar Dutt and K.P.M. Sundaram, Indian Economy, S. Chand and Co Ltd. Etc. Apart from the above,you would also be expected to carry out internet searches to identify your own sources. You may also be required to refer to official documents like the 11th Five Year Plan and the Economic Survey; as well as articles written by eminent economists.
3. Course description:

This is essentially an introductory course on macro-economics. Students will learn basic concept and principles of macroeconomics (concepts and tools to analyze the aggregate economy as a whole) will be presented. This course provides tools that are the basis for other courses in Business. 4. Learning Outcome After the course, the students should be able to appreciate the economic environment which their organizations function. They should also be able to analyse current problems and policies of the Government insofar as it affects their personal lives and their organizations. Understand and be able to apply the concepts of supply and demand, equilibrium, and the factors that shift supply and demand to analyze the behavior of real markets when conditions change. Analyze the impacts of restricting markets from reaching the competitive equilibrium through price controls, taxes, and subsidies. Understand the nature of production in the modern economy. Be able to identify the profit maximizing price and the relationship between different types of cost. Understand the effects of monetary and fiscal policy on the macro-economy.

5. Course project: The students will be divided into small groups of five. Each group will have prepare a presentation on some aspect of the course which has interested them the most. They can go to the net, refer to the sources indicated in their textbooks, newspaper articles appearing on the centre page, the Economic Survey, 11th Five Year Plan etc.
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6. Pedagogy and evaluation:

The success of the course in terms of individual and collective learning depends upon your input into class discussion. This requires adequate preparation for class and willingness to take responsibility for the quality and constructiveness of class discussion. Students are placed in the position of key decision makers (or their advisors) and are asked to solve problems related to the development or maintenance of the competitive advantage of the firm. Readings and cases by leading researchers and practitioners in the field are used to provide contextual familiarity and teach the tools and skills required for competitive analysis.

Project work Assignment & Submissions Quizzes (Unannounced) Class Participation Final Exam

20 % 20% 20 % 10 % 30%

General guidelines: Your work should always be your own. Plagiarism will be severely discouraged as a matter of policy. When you use someone elses idea, please give him credit for it; otherwise, it may be treated as plagiarism. Thus: Tendulkar, S.D. and Bhavani(2007), Understanding Reforms, Oxford University Press, may be indicated in the bibliography which you should give at the end of your assignment/text/paper. In the body of the text you may only write Tendulkar and Bhavani.

Project reports and assignments must always be submitted by the due date and time. Delays will adversely affect the evaluation.

Please feel free to ask questions in the class. This will facilitate not only your own learning but also that of others.

Please maintain a learning journal in which you summarise the ideas and concepts which you have learnt.
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The course can be modified according to circumstances and need. It is flexible.

Session plan: All pre-reading material and assignments for the session would be provided in the previous class. Session 1 2 3 4 5 6 7 8&9 10 11 12 13 14 15 16 17 18 19 20 Topics Introduction to the course, what is economics; macro economics and microeconomics Introduction to macro- economics: some key concepts, Supply, Demand, Equilibrium National income accounting Circular flow of income Economic development The consumption function The investment function Money and banking The Aggregate Supply-Aggregate Demand Model Fiscal policy and budget Unemployment, inflation and deflation Cost Minimization and Profit Maximization Overview of the Indian economy Indian economy: a historical perspective The story of reforms Population studies, Human development Infrastructure development Planning in India Final Exam