Module-4

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 Module-4

Table of contents:

I Introduction to economic concept and tools   

Scarcity   

Scarcity in Economics   

Planned economy   

Economic planning versus the command economy   

Opportunity cost   

II Microeconomics   

Assumptions and definitions   

Supply and Demand    3

Law of supply   

Law of demand   

Exceptions to the law of demand   

Aggregate supply    5

Demand curve (aggregate demand in microeconomics)   

Circular flow of income   

Price discrimination   

Budget deficit   

Medium of exchange   

Division of labour   

Production possibilities frontier   

Efficiency   

Opportunity cost   

Marginal rate of transformation   

III Macroeconomics   

Basic macroeconomic concepts   

Aggregate demand   

Macroeconomic policies   

Fiscal policy   

Monetary policy   

Unemployment   

Inflation and deflation   

Diminishing returns   

Gross domestic product (GDP)   

Gross domestic income (GDI)   

Gross National Product (GNP)   

GDP vs. GNP   

Recession   

Marginal product   

Marginal cost   

Economies of scale   

Aggregation problem   

Trade   

Currency   

IV Organization of Industries   

Monopoly   

Market structures   

Characteristics   

Sources of monopoly power   

Oligopoly   

Characteristics   

Duopoly   

Perfect competition   

Basic structural characteristics   

Imperfect competition   

Monopolistic competition   

Major characteristics   

Perfect market   

General equilibrium theory   

Marginal product of labour   

Definition   

Examples   

V International Sector   

Comparative advantage   

Effect of trade costs   

Competitive advantage   

Free trade   

Features of free trade   

Terms of trade   

International trade   

Trade barriers   

Examples of free trade areas   

Public limited company   

Private company limited by shares   

Privately held company   

Tariffs   

Barriers to entry   

Customs union   

Import   

Export   

Foreign direct investment   

Stock   

Bond   

Multinational Corporation   

Globalization   

OPEC   

VI Money, Central Bank and Monetary Policy   

Federal Reserve System   

Fiscal policy   

Income   

Tax   

Value added tax   

European Union   

Economic union   

Competition Commission   

The role of the Competition Commission   

International Monetary Fund   

World Trade Organization   

U.S. Securities and Exchange Commission   

National Stock Exchange   

North American Free Trade Agreement   

Central European Free Trade Agreement   

NATO   

G8   

History   

Structure and activities   

Member facts   

BRIC   

Thesis   

History   

VIII Marketing   

International marketing   

Marketing research   

Key components   

Market segmentations   

Criteria for Segmenting   

Basis for segmenting consumer markets   

The marketing planning process   

Marketing strategy   

Developing a marketing strategy   

Competitor analysis   

Market environment   

Micro-Environment (internal environment)   

Macro-Environment (external environment)   

Consumer behaviour   

Buying behaviour   

Marketing mix   

Elements of the global marketing mix   

Promotional mix   

Mission statement   

Contents   

Vision statement   

PEST analysis   

Use of PEST analysis with other models   

SWOT analysis   

Porter five forces analysis   

Five forces   

Public relations   

Advertising   

Brand   

IX Management   

Operations management   

Strategic management   

Concepts/approaches of strategic management   

Strategy formation (Classical school)   

Benchmarking   

Core Competence   

Shareholder   

Stakeholder (corporate)   

Stock trader   

Stock traders and stock Investors   

Entrepreneurship   

Characteristics of an entrepreneur   

Concept   

Promotion   

Entrepreneur   

Leadership attributes   

Types of entrepreneurs   

Investor   

Types of investors   

Investor protection   

Investment   

X Accounting   

Accountant   

British Commonwealth   

Austria   

Hong Kong   

United States   

Accounting period   

Bookkeeping   

Chart of accounts   

Types of accounts    3

General ledger   

Asset   

Asset characteristics   

Liability (financial accounting)   

Equity (finance)   

Equity investments   

Revenue   

Business revenue   

Government revenue   

Expense   

Bookkeeping for expenses   

Gain (finance)   

Cash flow statement

Income statement   

Usefulness and limitations of income statement   

Sample income statement   

Bottom line   

Requirements of IFRS   

Balance sheet   

Public Business Entities balance sheet structure   

Sample balance sheet   

Accounting equation   

Accounts payable   

Overview   

Payment terms   

Accounts Receivable Age Analysis