Objective – The course aims to equip the students to take industrial decisions and to create awareness of economic environment.
Expected Outcomes
- The students are able to explain the fundamental concepts of economics like scarcity, basic economic problems, demand, supply, consumer surplus and taxation and understand its applications in the real world.
- The students should have a knowledge of production, revenue and cost and its use decision making in manufacturing process.
- Students should be able to identify different market structures & pricing and output decisions in each.
- Students should be able to understand macro-economic concepts like National Income, Inflation, Deflation, Capital and Money market and Stock Markets.
- Students would have an understanding of Foreign Trade and its importance for the economy.
