Business Economics - Basics (College Level)

Learn the role of Economics in Business Decisions
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  • Lectures 50
  • Length 4 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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About This Course

Published 9/2015 English

Course Description

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.




What are the requirements?

  • Basics of Economics

What am I going to get from this course?

  • Understand What is Business Economics?
  • Understand Relationship between Economic Theories and Practice
  • Understand Theory of Firm, Cost Concepts, Profit Concepts, etc
  • Understand Business Decision Making Process
  • Understand Fundamental Concepts that helps decision making in business

What is the target audience?

  • CA / CMA / CS Students
  • Economics Students
  • Entrepreneurs who wish to understand importance of Economics

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
Introduction
Preview
08:46
Economic Theory and Business Practices
10:55
Section 2: Decision Making Process in Business
Decision Making in Business
Preview
02:36
Fundamental concepts in Decison Making followed by Incremental Concept
09:35
Incremental and Marginal Concepts
06:27
Section 3: Price determination in different markets
Market
03:43
Classification of Markets
03:51
Types of Market Struture
05:42
Total Revenure, Average Revenue and Marginal Revenue
04:05
Determination of Prices in Open Market
10:29
Increase in Demand and new Equilibrium Point
07:09
Decrease in Demand and new Equilibrium Point
03:15
Features of Perfect Market
04:56
Price determination in perfect market
13:10
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
02:44
What is the relation between Market Price, AR and MR of Price taking firm?
03:38
What is Market Equilibrium?
01:53
When do we say there is excess demand for commodity?
02:42
When do we say there is excess SUPPLY for commodity?
02:35
What will happen if Market Price greater or less than Equilibrium Price?
01:49
How price is determined in a perfectly competitive market?
01:59
How equilibrium price and quanity affected due to change in Income?
04:52
How increase in price of shoe affect sales of socks?
02:52
How change in price of coffee affects sales of tea?
03:26
How change in price of inputs affect equilibrium?
03:43
Effect of Rightward shift in Demand and Supply Curve on Equilibrium Price and Qu
06:56
Section 5: Perfect Competition
Prefect Competion Pure Competition
02:14
why firms in Perfect Competion are Price taker?
01:25
Effect on equilibrium Price
02:49
Section 6: Monopoly Market
what is Monopoly
02:01
Feratures of Monopoly
02:58
Different ways of Creating monopoly
01:46
Monopolistic Competition & its Features
05:49
Section 7: Budget and Budget Line
Budget Set and Budget line
02:25
How to draw Budget line
04:20
Section 8: Elasticity of Demand
Price Elasticity of Demand
03:58
Impact on Demand for Change in Price
01:31
Determinants of Price Elasticity of Demand
04:50
Different type of Price Elasticity of Demand
11:16
Total Expenditure Method
05:45
Geometric or Point Method
04:29
Percentage or Proportionate Method
02:28
Section 9: Cost and Revenue
Cost and Cost function
02:21
Money cost and Real Cost
01:53
Opportunity Cost, accounting & Economic Cost
04:38
Private Cost Social cost
01:06
Fixed cost and variable Cost
07:04
Short run Average Cost Curve
11:33
Marginal Cost
06:06
BONUS LECTURE - Discount Coupon Link For Other Courses
8 pages

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Instructor Biography

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.

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