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Welcome to the course Business Economics - Basics.
In this course, you will learn about Basics of Business Economics which is the need of the hour, because of wide gap between Economic Theories and Practices.
Business Economics focuses on bridging the gap, because it deals with application of economic theory in Business practices. It is the study of Economic principles in general and the application of the same in arriving proper business practice.
In this course, you will understand
a) Application of Economic Theory to Business Practice - covering
i) Theory of Firm
ii) Cost Concept
iii) Profit Concept,
iv) Measurement of Economic Relationship
v) Predicting Economic Quantities
b) Decision Making in Business
c) Fundamental Concepts that helps decision making covering
i) Incremental Concept
ii) Time Perspective
iii) Discounting Principle
iv) Opportunity Cost
v) Equi-Marginal Principle.
This course is structured in self paced learning style.
Video lectures are used for presenting course content.
Students pursuing CA / CMA / CS / Bachelor of Commerce / BA (Economics) can take this course.
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Certificate of completion.
|Section 1: Introduction|
Economic Theory and Business Practices
|Section 2: Decision Making Process in Business|
Decision Making in BusinessPreview
Fundamental concepts in Decison Making followed by Incremental Concept
Incremental and Marginal Concepts
|Section 3: Price determination in different markets|
Classification of Markets
Types of Market Struture
Total Revenure, Average Revenue and Marginal Revenue
Determination of Prices in Open Market
Increase in Demand and new Equilibrium Point
Decrease in Demand and new Equilibrium Point
Features of Perfect Market
Price determination in perfect market
|Section 4: Why, What, How, When of Price Determinations in Different Markets|
Why Total Revenue Curve of a price taking firm is an Upward Sloping Straight Lin
What is the relation between Market Price, AR and MR of Price taking firm?
What is Market Equilibrium?
When do we say there is excess demand for commodity?
When do we say there is excess SUPPLY for commodity?
What will happen if Market Price greater or less than Equilibrium Price?
How price is determined in a perfectly competitive market?
How equilibrium price and quanity affected due to change in Income?
How increase in price of shoe affect sales of socks?
How change in price of coffee affects sales of tea?
How change in price of inputs affect equilibrium?
Effect of Rightward shift in Demand and Supply Curve on Equilibrium Price and Qu
|Section 5: Perfect Competition|
Prefect Competion Pure Competition
why firms in Perfect Competion are Price taker?
Effect on equilibrium Price
|Section 6: Monopoly Market|
what is Monopoly
Feratures of Monopoly
Different ways of Creating monopoly
Monopolistic Competition & its Features
|Section 7: Budget and Budget Line|
Budget Set and Budget line
How to draw Budget line
|Section 8: Elasticity of Demand|
Price Elasticity of Demand
Impact on Demand for Change in Price
Determinants of Price Elasticity of Demand
Different type of Price Elasticity of Demand
Total Expenditure Method
Geometric or Point Method
Percentage or Proportionate Method
|Section 9: Cost and Revenue|
Cost and Cost function
Money cost and Real Cost
Opportunity Cost, accounting & Economic Cost
Private Cost Social cost
Fixed cost and variable Cost
Short run Average Cost Curve
BONUS LECTURE - Discount Coupon Link For Other Courses
I am a Chartered Accountant with tonnes of passion for teaching.
I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.
I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.
I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.
I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.