ICWA FOUNDATION ECONOMIC

1. Basic Concepts of Economics 

  • The Fundamentals of Economics & Economic Organizations
  • Utility, Wealth, Production, Capital
  • Central Problems of an Economy
  • Production Possibility Curve ( or Transformation Curve)
  • Theory of Demand and Supply
  • Equilibrium
  • Theory of Production
  • Cost of Production

2. Forms of Market 

  • Various forms of market- monopoly, perfect competition, monopolistic competition, oligopoly, duopoly
  • Pricing strategies in various markets

3. National Income 

  • Gross National Product
  • Net National Product
  • Measurement of National Income
  • Economic growth and fluctuations
  • Consumptions, Savings and Investment

4. Money 

  • Definition and functions of money
  • Quantity theory of money
  • Inflation and effect of inflation on production and distribution of wealth
  • Control of Inflation
  • Money Supply
  • Liquidity preference and marginal efficiency
  • Rate of Interest and Investment

5. Banking 

  • Definition
  • Functions and utility of Banking
  • Principles of Commercial Banking
  • Essentials of sound Banking system
  • Multiple credit creation
  • Functions of Central Bank
  • Measures of credit control and Money Market
  • National & International Financial Institutions

6.(a) Indian Economy – An overview 

  • Nature, key sectors and their contribution to the economy
  • Meaning of an Underdeveloped Economy
  • Basic Characteristics of the Indian Economy
  • Major Issues of Development
  • Natural resources in the process of Economic Development
  • Resources – land; forest; water, fisheries, minerals
  • Economic development and Environmental Degradation
  • Global Climate Change and India
  • The role of Industrialization, pattern of Ownership of Industries
  • Infrastructure and Economic Development, Private Investment in Infrastructure, Public Private Partnership (PPP) 

SECTION B – FUNDAMENTALS OF MANAGEMENT [50 MARKS] 

  1. Management Processintroduction, planning,
  2. organizing,
  3. staffing
  • leading, control
  • communication,
  • co-ordination.
  •    (b) Evolution of Management thought
  • Classical
  • Neo-classical,
  • Modern 
  1. Concept of Power
  • Authority, Responsibility
  • Accountability
  • Delegation of Authority
  • Centralization & Decentralization 
   (b) Leadership & Motivation
  • Concept & Theories
  1. (a) Group Dynamics- concept of group and team, group formation, group cohesiveness
   (b) Management of organizational conflicts- reasons, strategies
  1. Decision-making- types of decisions, decision-making process