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Relevance of the Study of Indian
Economy for students of a Business
Management Programme in India
Presented by
Agnik Biswas (PGP02057)
Manu A (PGP02078)
Nishikant Kumar (PGP02082)
Sameer Bensekar (PGP02066)
Sajesh KV (PGP02092)
Vivek Kumar (PGP02106)
Training
• Imparts Skills
• Helps to do a job/get employed
• Marketing/Finance/HR
Education
• Foster mind/Overall development
• Holistic approach to issues
• Economics/Sociology/Psychology
Introduction
Both subjects that impart skills to make you employable, and
subjects that are educative are equally important in an MBA
curriculum.
Economics may not fetch you a placement, but it may help make
you a CEO in the long run!
Economics provides
a comprehensive
view of business
• complete picture of
the relationship
between society and
the markets
• students learn about
how the decisions of
individuals can affect
trends in business
Understanding
economics can
improve decision
making
• holistic view of the
inter-relationships
between individuals,
markets and the
larger economy
Economics adds
depth to a
professional
résumé
• advanced
repertoire of skills
and knowledge
than previous
generations in
order to keep up
with the rapidly
evolving nuances of
a complex global
marketplace
Why economics in Business?
Financing
decision
• Personal and business financial decisions to be taken(taking
out a mortgage, saving for a pension, buying insurance)
Economic
variables
• Different economic factors affecting business( Inflation, Interest
Rates, Labour etc)
Economic
policies
and
reforms
• Effects of Economic policies and reforms on Business (GST,
DEMONITISATION)
Tax
• Concept of tax, how the tax system affects the people
Price
determina
tion
• Determination of prices for goods and services including things like
land, buildings, stocks and bonds
Importance in Finance
Importance in Operations
• Initiatives to shift Economy from service Driven to Manufacturing
driven
– Make In India
• Demonetization affects on Manufacturing Sector
– Cash crunch for working capital
– Labour payment
• Export and Import
– Export - $276B
– Import - $368B
Export
Refined
Petroleum
Diam
onds
Jewellery
Rice Import
Gold
Crude
Petroleum
Petroleum
gas
Marketing
•Indian Economy
•Economic Trends
International
Marketing
•Product
•Price
•Local Production
•Advertisement Channel
Importance in Marketing
For Starting a new venture
Access to Credit & Interest rates of banks in India(Public and Private Sector)
Supply and demand pattern of Indian consumers
Export – Import policies
Provision for subsidies for MSMEs by the GoI
Tax Rates applicable
Game Theory for Decision making
Understanding the macro perspective of the economic environment before
implementing the idea
Conclusion
The inclusion of Indian Economy as a subject at premier B-
Schools in India, such as IIMs, FMS,XLRI etc , itself explains how
imperative and relevant this course is.
Business Management is all about Decision making and the
study of Indian Economy provides a comprehensive and holistic
view to students, which in turn help them to become better
managers
References
• https://essentialsofbusiness.ufexec.ufl.edu/resou
rces/leadership/how-your-understanding-of-
economics-can-affect-your-decision-
quality/#.WNLIBDt97IV
• https://www.wamda.com/2014/07/5-basic-
economic-concepts-for-entrepreneurs
• http://edwardlowe.org/basic-economic-lessons-
that-growth-entrepreneurs-should-heed-2/
• http://foundersguide.com/global-economic-
factors-for-startups/
Thank You !!!

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Relevance of the Study of Indian Economy for students of a Business Management Programme in India

  • 1. Relevance of the Study of Indian Economy for students of a Business Management Programme in India Presented by Agnik Biswas (PGP02057) Manu A (PGP02078) Nishikant Kumar (PGP02082) Sameer Bensekar (PGP02066) Sajesh KV (PGP02092) Vivek Kumar (PGP02106)
  • 2. Training • Imparts Skills • Helps to do a job/get employed • Marketing/Finance/HR Education • Foster mind/Overall development • Holistic approach to issues • Economics/Sociology/Psychology Introduction Both subjects that impart skills to make you employable, and subjects that are educative are equally important in an MBA curriculum. Economics may not fetch you a placement, but it may help make you a CEO in the long run!
  • 3. Economics provides a comprehensive view of business • complete picture of the relationship between society and the markets • students learn about how the decisions of individuals can affect trends in business Understanding economics can improve decision making • holistic view of the inter-relationships between individuals, markets and the larger economy Economics adds depth to a professional résumé • advanced repertoire of skills and knowledge than previous generations in order to keep up with the rapidly evolving nuances of a complex global marketplace Why economics in Business?
  • 4. Financing decision • Personal and business financial decisions to be taken(taking out a mortgage, saving for a pension, buying insurance) Economic variables • Different economic factors affecting business( Inflation, Interest Rates, Labour etc) Economic policies and reforms • Effects of Economic policies and reforms on Business (GST, DEMONITISATION) Tax • Concept of tax, how the tax system affects the people Price determina tion • Determination of prices for goods and services including things like land, buildings, stocks and bonds Importance in Finance
  • 5. Importance in Operations • Initiatives to shift Economy from service Driven to Manufacturing driven – Make In India • Demonetization affects on Manufacturing Sector – Cash crunch for working capital – Labour payment • Export and Import – Export - $276B – Import - $368B Export Refined Petroleum Diam onds Jewellery Rice Import Gold Crude Petroleum Petroleum gas
  • 7. For Starting a new venture Access to Credit & Interest rates of banks in India(Public and Private Sector) Supply and demand pattern of Indian consumers Export – Import policies Provision for subsidies for MSMEs by the GoI Tax Rates applicable Game Theory for Decision making Understanding the macro perspective of the economic environment before implementing the idea
  • 8. Conclusion The inclusion of Indian Economy as a subject at premier B- Schools in India, such as IIMs, FMS,XLRI etc , itself explains how imperative and relevant this course is. Business Management is all about Decision making and the study of Indian Economy provides a comprehensive and holistic view to students, which in turn help them to become better managers