Course info

The ICFAI University, Tripura

(Established under Section 4(2) of The Institute of Chartered Financial Analysts of India University, Tripura Act 2004)

Campus address: Kamalghat (near Agartala), PIN–799210, Tel:  0381- 2865752/62 Fax: 2865-754

Website: www.iutripura.edu.in E-mail: registrar@iutripura.edu.in

Managerial Economics II

Course Code	ECN212
Contact Hours	45
Credits	03
Marks	100

 

Introduction

This course provides with the basic understanding and tools of Microeconomics, Macroeconomics and Indian Economics and some very crucial aspects of International Economics. The course is designed in such a way that it will provide overall idea about Managerial Economics and its concerned areas.

 

Learning Objectives

The objective of this course is to impart knowledge on:

·         Thorough understanding of the principles of economics.

·         How individual decision-makers, both consumers and producers, behave in a variety of economic environments.

·         How collectively decisions are taken to build a public project, or designing a contract that will induce a worker to exert maximum effort.

·         To identify the incentives of the various participating agents and the trade-offs that they face.

 

Learning Outcome

·         Students will learn to apply economic theories and methodologies in analyzing economic issues in various sub-fields of applied microeconomics and international economics.

·         To be able to solve practical problems in economic and in the field of business practice by acquired knowledge and skills.

·         The course has been designed to develop a student’s views and outlook on leadership, entrepreneurship and ethics.

Unit-I An Overview of the Economy

1.1  Economic Development: Meaning of Economic development and growth

1.2  Factors affecting economic development

1.3  Economic Development:  significance in developed and developing countries

 

 

Unit-II Indicators of Economic Growth

2.1 National Income: Meaning, Basic concepts, Measurement-Output method, expenditure method, income method.

2.2  Circular flow of income, Significant, Difficulties for measurement, Relation between national income and poverty

2.3  Balance of Payments: Meaning,  Significance,  Types,  Components

2.4  Foreign Exchange Reserves: Meanings,  Historical perspectives, Types,  Importance

2.5  Inflation: Meaning, Types, Causes, other reasons, Effects-on production, on fixed income people, on government, on consumer.

2.6  Inflation: Strategies for controlling,  Measurement,  Situation in India

2.7  Human Development Index: United Nations Development Programme Report

 

Unit-III Economic System, Planning and LPG Strategy

 

3. 1.               Economic System: Meaning, Types, Importance, Historical perspectives,

       Capitalism, Socialism, Mixed economy: Meaning, Features

3.2  Niti Ayog, Objectives, Working

3.3  Liberalization, Privatization and Globalization (LPG): Meaning, History, Origin

3.4  Foreign Direct Investment in India: Meaning, needs, progress.

3.5  Disinvestment in India:  Meaning, needs, progress.

 

 

Unit-IV Business Cycle and Financial System and

4.1Business cycle:  Meaning, Importance, Features, Phases

4.2  Theories of entrepreneurial abilities- Types, Progress, Types, Progress : Case study

4.3  Functions of Financial system

4.4  Stabilization Policies, Fiscal Policy and  Monetary Policy:  Meaning,  Objectives,  Working of Monetary policy

4.5  Commercial Bank in India: Meaning, Origin, History, Functions, Commercial Bank in India: Credit creation, Progress, Challenges.

 

Unit-V International Issues

5.1  International Issues:  Globalization meaning, advantages, Disadvantages

5.2   International Monetary Fund:  Meaning, Importance, Historical Perspectives, Functions

5.3  World Bank:  Meaning,  Importance,  Historical Perspectives,  Developmental activities

5.4  World Trade Organization:  Meaning,  Fundamental Principals,  Historical Perspectives,

 

 

Course Work / Assignments

The following methods and forms of study are used in the course:

• Lectures/Classes

• Written homework and assignments

• Self-study

• Supplementary presentation on different topics

• Office hours/consultations

 

Suggested Readings:

1.      Introduction to Economics, IUP Publication

2.      Macroeconomics: Theory and Policy, Author: H.L.Ahuja

3.      Pindyck, R.S., D. L. Rubinfeld and P. L. Mehta; Microeconomics, Pearson Education.

4.      N. Gregory Mankiw, Principles of Micro Economics, Cengage Learning

5.      Maddala G.S. and E. Miller; Microeconomics: Theory and Applications, McGraw-Hill Education.

6.      Salvatore, D. Schaum’s Outline: Microeconomic Theory, McGraw-Hill, Education.

7.      Case and Fair, Principles of Micro Economics, Pearson Education

8.      Koutsiyannis, Modern Micro Economic Theory.

 

Evaluation Scheme:

Component	Duration	Weightage (%)	Remarks
Internal I	To be decided	25	Attendance (5%), Assignment (5%), Open Book (5%), Class Participation (5%), Presentation (5%).
Mid term	2 hrs.	20	Closed Book
Internal II	To be decided	25	Assignments (10%), Class Participation (5%), Presentation (10%).
Comprehensive Exam	3 hrs.	30	Closed Book