Economic Environment of Business

Teacher

Dr. Bibhunandini Das

Category

Core Courses

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Course Name : Economic Environment of Business

Code(Credit) : MGGM1208(3-0-1)

Course Objectives

  • To develop perspectives of economic growth and development with special reference to Indian economy.

Learning Outcomes

  • The students will be able to understand the varying perspectives of Indian economy since Independence, contribution of different sectors to the economy and policy environment.

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

  1. Project on current scenario of Indian Economy
  2. How can India become a 5 trillion economy?
  3. How can India drastically improve social indicators?
  4. Strategies to make India as global factory
  5. Strategies to improve India’s HDI score
  6. Comparison of India’s economy with China’s economy
  7. Analysis of Nobel Prize -Abhijit Banerjee, Amartya Sen, Paul Krugman, Daniel Kahneman, Williamson Elenor Stromme and Elinor Ostrom
  8. Present Economic Scenario-Covid-19

Session 2

Marxian perspectives on the labour theory of value and the falling rate of profit

https://www.youtube.com/watch?v=W0GFSUu5UzA

https://www.youtube.com/watch?v=AV4yTgPCHHg

Session 3

Keynesian theory of underemployment equilibrium

https://www.youtube.com/watch?v=kukKpqd_B2c

Session 4

Keynesian theory of underemployment equilibrium

https://www.youtube.com/watch?v=CroneDOeJIs

Session 5

Session 6

How Gandhi is different from Marx?

Gandhi Vs Marx

Session 7

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 8

Discussion on Projects: Students will be divided into four groups and four projects will be given

  1. Project on current scenario of Indian Economy
  2. How can India become a 5 trillion economy?
  3. How can India drastically improve social indicators?
  4. Comparison of India’s economy with China’s economy

Session 9

Planning Debate-The Bombay Plan, Sarvodaya Plan, People’s Plan, The Mahalanobis Strategy, The Wage Good Model

https://www.civilsdaily.com/planning-in-india-bombay-plan-peoples-plan-mahalanobis-plan-wage-good-model-gandhian-plan/

Session 10

Planning process and its focus areas-Review of Five Year Plans

http://planningcommission.gov.in/index.php

Session 11

Achievements and Failures: Pl 480 crisis and Green Revolution

https://www.youtube.com/watch?v=a84ItUQUaFg

https://www.youtube.com/watch?v=hq8b-iCgvLM&t=40s

Pl 480

Session 12

Darker side of Green Revolution

https://www.youtube.com/watch?v=CzxAd8CVSIs&t=4s

Session 15

Public Sector and its growth

Session 17

Group Discussion on Hindu Rate of Growth

Session 18

Session 19

India's growth  history-Pre and Post Liberalisation

Session 20

Session 21

Inflation: Understanding inflation in India

Understanding Inflation in India

Session 23

Inflation and its control in India

Session 24

Structure of Indian Economy

Session 25

Kuznet's hypothesis on structural change

Simon Kuznets article_Structutal Change

Session 26

Assignment on Simon Kuznets hypothesis on structural change and presentation

Session 27

Monetary policy and its objectives

https://www.youtube.com/watch?v=CwRNDLHgl3g

Session 29

Fiscal policy since 1991

Fiscal Policy

Session 30

Investment Policies

Session 33

India's Balance of Payments

https://www.youtube.com/watch?v=ZnyPcOz6bqc

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

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    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, […]