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This course introduces you to the fundamentals of economics and helps you develop basic understanding of economic Principles. This course will expose you to the basics of economy from the perspective of consumers, firms, government and various other economic agents involved in essential economic activities like distribution, consumption, production and resource management. There is no prerequisite for this course. As this is the introductory course, no prior knowledge of economics is required. This course covers basic concepts like principles of Economics, demand and supply analysis, concepts of elasticity, cost and production analysis, understanding of various market structures prevailing in the economy, Macroeconomic output, Circular flow of income, Business Cycles, unemployment, inflation, Economic growth. This course will enable decision making as an individual and as a manager on the basis of these concepts and the understanding of market. This course will also review different forms of organizations and their objectives and It will also expose students to concepts of economic growth and policies that help the economies to long term sustained growth.
