Economic Environment of Business
Teacher
Dr. Anjali Dash
Category
Core Courses
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Course Name : Economic Environment of Business
Code(Credit) : CUTM1186(3-0-1)
Course Objectives
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- To develop perspectives of economic growth and development with special reference to Indian economy.
- Acquire conceptual and theoretical knowledge of Indian economic and environmental perspective;
- Understand and appreciate the tools of Environmental economics and their applications in industrial sector;
- Develop the ability to evolve business/management strategy using current economic scenario and environmental impact
- Appreciate the new challenges to business management in the internet age
- Appreciate the linkages between economics and the functional areas of business
Course Outcomes
| COS | COURSE OUTCOMES | MAPPING COS WITH POS (High-3; Medium-2; Low-1) |
| CO1 | Acquire the conceptual and theoretical knowledge of economics which is relevant for evaluating economic behavior of an individual economic agent. | PO1(3) |
| CO2 | Ability to relate theory with practice in describing environmental issues with industrialization; understand developmental parading of a nation by analyzing trend and pattern of developmental indicators like HDI | PO2(3) PO5(2) PO9(3) |
| CO3 | Evaluate and compare the various types of economic indicators and environmental problem and use them when planning price policy of a firm or an industry, and to communicate environmental policy to save economy to the policy maker | PO3(3) PO4(2) |
| CO4 | Demonstrate the use of environment economics concepts like EKC, CSR in strategic planning. | PO6(3) PO7(2) |
| CO5 | Ability to sustainable economy and environment and also understand use the ideas to protect resources in life- long in business and health | PO8(3) PO10(2) |
Course Syllabus
Module: I Perspectives of Growth and Development:
Free Market Perspectives- free market capitalism and profit maximisation.
Marxian Perspectives- the Labour theory of Value and the falling rate of profit
Keynesian Full Employment- Underemployment equilibrium, Keynesian theory and policy
Gandhian Perspectives- Gandhi on Socialism, Economic Ideas- How Gandhi is different from Marx?
Critiques of present development models-Gender, Human rights and Ecology
Book Review- Choice of Techniques: An Aspect of the Theory of Planned Economic Development by Amartya Sen
Economy of Permanence by J C Kumarappa
Small is Beautiful by E F Schumacher
The Indian Economy-Poverty and Development by Pramit Chaudhuri (Reviewed by Michael Lipton)
Module: II India’s Economic Environment since Independence to Liberalisation
Planning Debate- The Bombay Plan, Sarvodaya Plan, People’s Plan, The Mahalanobis Strategy, The Wage Good Model
Planning Process and its focus areas- Review of Five Year Plans
Achievements and Failures-Green Revolution, Nationalisation of Bank, Public Sector, Hindu Rate of Growth, PL 480 crisis
GDP and its growth- India’s GDP in Pre and Post Liberalisation, Sector wise contribution to India’s GDP
Inflation and its control in India
Module: III Current India Economic Environment
Structure of Indian Economy- Primary, Secondary and Tertiary; Kuzents hypothesis on structural change
Monetary Policy Environment- RBI’s Monetary Policy and its Instruments, CRR, SLR, Marginal Standing Facility Rate, Repo rate, Reverse Repo rate
Present Fiscal Policy Environment- Fiscal Policy since 1991, FRBM Act
Investment Policies- Globalisation, Liberalisation and Privatisation
Agricultural policies- Plan Expenditure on Agriculture, Agricultural Prices, National Agricultural Policy 2009-2015
Poverty Alleviation Policies-Special focus on DBT
India’s Balance of Payments- Current Account and Capital Account
Module: IV Projects
- Project on current scenario of Indian Economy
- How can India become a 5 trillion economy?
- How can India drastically improve social indicators?
- Strategies to make India as global factory
- Strategies to improve India’s HDI score
- Comparison of India’s economy with China’s economy
- Analysis of Nobel Prize -Abhijit Banerjee, Amartya Sen, Paul Krugman, Daniel Kahneman, Williamson Elenor Stromme and Elinor Ostrom
- Present Economic Scenario-Covid-19
| Text Book:
· Development Economics by Debraj Ray. Oxford University Press
Reference Books: · History of Economic Thought- R R Paul. Kalyani Publishers |
Economy by Duttand Sundaram
Session Plan
Session 1 to 3
Growth and Development basic:
ECONOMIC GROWTH AND DEVELOPMENT
Relevant website for data on developmental indicators:
http://www.imf.org/external/datamapper/profile/IND
https://datatopics.worldbank.org/world-development-indicators/
https://www.indiabudget.gov.in/
https://stats.oecd.org/index.aspx?queryid=61433
https://rbi.org.in/Scripts/Statistics.aspx
Free Market Perspectives: free market capitalism and profit maximisation
Session 4
Marxian perspectives on the labour theory of value and the falling rate of profit
PPT- Maxist Economics
Materials-Marxian theory of development
Session 5
Keynesian theory of underemployment equilibrium
https://www.youtube.com/watch?v=kukKpqd_B2c
Session 6
Keynesian theory of underemployment equilibrium
Session 9
Students' project on review of Book review
Book Title- Choice of Techniques: An Aspect of the Theory of Planned Economic Development by Amartya Sen
Session 10
Discussion on Projects: Students will be divided into four groups and four projects will be given
- Project on current scenario of Indian Economy
- How can India become a 5 trillion economy?
- How can India drastically improve social indicators?
- Comparison of India’s economy with China’s economy
Session 11
Planning Debate-The Bombay Plan, Sarvodaya Plan, People’s Plan, The Mahalanobis Strategy, The Wage Good Model
Session 12
Planning process and its focus areas-Review of Five Year Plans
Session 13
Achievements and Failures: Pl 480 crisis and Green Revolution
https://www.youtube.com/watch?v=a84ItUQUaFg
Session 16
Public Sector since Independence
Session 17
Public Sector and its growth
Session 18
Session 19
Group Discussion on Hindu Rate of Growth
Session 21 & 22
India's growth history-Pre and Post Liberalisation
Sector wise contribution to India's GDP
http://statisticstimes.com/economy/sectorwise-gdp-contribution-of-india.php
Session 24 to 25
CPI in India over the years
https://www.inflation.eu/inflation-rates/india/historic-inflation/cpi-inflation-india.aspx
Inflation and its control in India
Session 26
Structure of Indian Economy
Session 27
Kuznet's hypothesis on structural change
Simon Kuznets article_Structutal Change
Assignment on Simon Kuznets hypothesis on structural change and presentation
Session 28
RBI's Monetary policy and its instruments
Session 30
Investment Policies
Session 34
Preparation of projects
Session 35
Preparation of projects
Session 36
Preparation of projects
Session 37
Preparation of projects
Session 38
Preparation of projects
Session 39
Project Presentation
Session 40
Project presentation
Session 41
Project presentation
Session 42
Project presentation
Case Studies
Case Studies
Our Main Teachers
Dr. Anjali Dash is working as an Assistant Professor (Economics) at School of Management, Centurian University of Technology and Management, Bhubaneswar since August 2022. She was a Post-doctoral fellow at International Institute for Population Sciences (IIPS), Mumbai, 2017-2019. She hold Ph.D. degree in Economics from M.P. Institute of Social Science Research, Ujjain, M.P. and Mphil degree in Economics from Sambalpur University. Her interest is on teaching are: Health economics, Economietrics, Microeconomics, Mathematical economics, and Computer application for economic analysis, Statistics. Her research interest is on health economics, poverty, rural and tribal development, urban issues, education, ageing, migration, and employment. She is interested more in interdisciplinary research. She has more than 8 years of post PhD worked experience in research and teaching from various national organization such as Central University of Odisha, Koraput, Centre for Social Studies, Surat, Institute of Economic Growth (IEG), New Delhi, Samarthan Bhopal, Tata Institute of Social Sciences (TISS), Mumbai and Sambalpur University. She has proficient in analytical skill in large data like NSSO, NFHS and SAGE.
Dr. Bibhunandini Das is working as Associate Professor in Economics in the school of management, Centurion University of Technology and Management, Odisha. Dr Bibhunandini Das has obtained her PhD from the Centre for Development Studies, Jawaharlal Nehru University, New Delhi in 2015. Prior to joining CUTM, she has worked with Indian Institute of Public Health, […]
Kalee Prasanna Pattanayak holds a masters degree in finance from NIILM centre for management studies. His professional career spans over 10 years into industry and academics. He has more than six years of experience in teaching, training and research. His teaching interests include areas like Economics, Agribusiness and Business Environment. Along with facilitating courses, he […]