Course Description

The course (MABD) aims to equip students with a comprehensive understanding of essential economic concepts and their applications in business and policy. It covers the problem of scarcity and the factors of production (land, labor, capital, and entrepreneurship), explores market dynamics through the laws of demand and supply, and examines production processes and cost structures. Additionally, students will differentiate strategies for various market structures, grasp national income accounting principles, and analyze the impact of India's 1991 industrial policy reforms on economic growth and liberalization. 

Course Objectives

On having completed this course student should be able  to:

• Explain the concept of scarcity and its effect on resource allocation, and describe the roles of land, labour, capital, and entrepreneurship in the production process.

• Understand the laws of demand and supply, and comprehend how production and cost of production influence business operations.

• Identify and apply appropriate business strategies based on different market structures, including perfect competition, monopolistic competition, oligopoly, and monopoly.

• Learn the methods and significance of national income accounting, including GDP, GNP, and other related measures, to assess a country's economic performance.

•  Review and analyze the key aspects and impact of the 1991 industrial policy reforms in India, focusing on economic liberalization and growth strategies. 

Course Outcomes

On successful completion of the course, the students will be able to:

• CO1 - Understand the problem of scarcity and factors of production.

• CO2 - Understand the concepts of law of demand, law of supply, production and cost of production in business operations.

• CO3 - Differentiate the strategies for different forms of market.

• CO4 - Understand the concepts of national income accounting.

• CO5 - Recall the industrial policy of 1991.

MABD Study Materials

Unit 1 - Foundation of Market Analysis

Unit 2 - Mechanics of Price Determination

Unit 3 - Market Structures

Unit 4 - National Income

Unit 5 - Indian Economy and Business Development

MABD PPTs

MCQ Quiz

Question Bank

Assignment Questions