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Induction - Economics - July 2021
Induction - Economics - July 2021
ECONOMICS
Batch 2021-23
What is an economy?
What is economic decision?
Five Ws
Scarcity as economic problem
Micro and Macro economics
Positive and Normative economics
Why “Economics” in Managementt?
Corona Vaccines
Oxygen
Healthcare workers
Fuel
Jobs
• Necessaries
a) Necessaries of Existence: Food, clothing, shelter
b) Necessaries of Efficiency: Table & Chair for a student
c) Conventional Necessaries: Social customs, societal pressures,
addictions
Attributes of Value
Scarcity
Utility
Transferability
Airline sector:?
Online education technology organizations:?
Overall unemployment:?
Health-tech start-ups:?
Income inequality:?
GDP:?
Digital payment companies:?
OTT platforms:?
Share market:?
Macro Economics
1. Income & Employment theory
2. Theory of Consumption
3. Theory of Savings & Investment
Business Environment
1. Theory of D & S of Money
2. Theory of Growth & Development
Money & Capital market; Corporate Finance
1. Theory of Exchange
2. Theory of Public Finance
International Business Mgt
1. True or False: The economic problem will not arise if our wants are limited.
2. True or False: Bill Gates has so much money that he doesn’t face an economic problem.
3. weather the following variables are Micro or Macro?
-a. average saving
-b. no of households below poverty line
-c. recession faced by real estate sector
-d. Tata’s investment in Big Basket
4. weather the following statements are Positive or Normative:
-a. Locating your suppliers nearby helps in reducing the cost of inventory.
-b. Higher tax on fuel is likely to affect poor people more severely.
-c. Taking agricultural lands to create export promotion zones is not a good idea.
-d. Charging different prices of the same product to different consumer segments helps in increasing
total turnover.