Understanding Economic Indicators for Managerial and Business Decision Making

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Analyzing, and designing appropriate strategies to enhance the performance of a company is not possible without a proper understanding of the economic environment in which the company operates. It is, therefore, necessary for the managers to acquire a proper knowledge of the main coordinators of the economic system. This eases the decision-making in a hostile economic environment and enables the decision-makers to make the required adjustment in a company by carefully analyzing the mechanism of the economic factors that influence the business environment. This course is therefore especially designed for executives to make them understand the key economic indicators about the markets; the institutions that support and regulates the market and also touches upon the key transformation through which the market is currently undergoing

1.)To understand the main economic indicators about country level market dynamics and the Institution regulating the market 2.) To understand how institutions and markets influence the behavior of the economic agents and the relationship between them 3.) To understand the indicators that capture the role of network and digital technology to influence the market. 4.) To understand the importance and role of key behavioral economics concepts and emerging market conditions in decision-making.

The course has been designed in three parts viz., 1.) First part covers the Key Country Level Macro Economics Variables; the Institutions supporting and or regulating it. 2.) The Second Part introduces the Key Economic Indicators at the Company and Market level in the face of Risk and Uncertainty and the importance of the Networked Market. 3.) The third and the last part synthesizes the Macro and Micro Level Economic Indicators by touching upon the contemporary issues of Geopolitics, Demographic Changes &the importance of Behavioral Economics in designing strategies Course Content: Macro-Economic Indicators: What Managers and Executive Need to Know Theme 1: Understanding the Macroeconomics: Measuring National Income, Exchange of Output across Countries, the interrelationship between Output, Money and Expectations, What Makes Output Go up and Down? How does it Affect Business? Theme 2: Money and Its impact on Real and Nominal Variables, The Art and Science of Reserve Bank of India. Tiding a Company with monetary policies of Reserve Bank of India Theme 3: Expectations and Inflation, Expectations and Output, Expectation formation and its impact on Other Macro Variables, Relationship of growth with poverty, inequality and unemployment. Theme 4: How to revive the economy by macroeconomic policies after Covid-19 lockdown: How to revive aggregate demand, growth, employment and profitability. Market and Company Level Indicators Theme 5: Understanding Demand: Do Firms know their Demand Functions? Elasticity of Demand and its relationship with revenue, Demand by Group and in the Aggregate. Modeling Consumer Behavior Theme 6: Channels of Distribution and the problem of double marginalization: A story about Porsche, A simple model of two step distribution, Why do laws to protect Franchisees exists. Theme 7: Averages and Margins: Average Cost, Adding Average Revenue and Marginal Revenue, From Average to Marginal Cost, Efficient Scale, and Why Spend All this time on Average Cost Theme 8: What are externalities? Why do Externalities lead to inefficiency? Dealing with Externalities within organization Theme 9: Risk Aversion and Expected Utility, Risk sharing and spreading, Hidden information, Signaling and Screening, Incentives. Theme 10: Incentives: A basic trade off: Risk sharing versus Motivation, Sundry comments, Qualifications, Extensions and Variations. Theme 11: Market and Strategic Interaction in Network: Matching Market, Network Models of Market with Intermediaries, and cascading behavior in Market. The World as we see it?...the world as we ?should? see it: Making Sense of the Indicators Theme 12: Making sense of the present by understanding the past: Geopolitical Balance of Power (Past, present & the Future-Pre Cold War, Cold War, Globalization, Protectionism) Theme 13: Story of Markets: Demography and its Impact(Potential Market opportunities etc.)Urbanization & Migration (Global as well as Indian context, can be related to the Covid scenario in India as well) Theme 14: Nudging the Mindset: Application of Behavioural Economics in Managerial Decision Making

The Course is open for all level of managers in a Company.

Course Details

Venue Online
Duration 18 Hrs.
Starts On Feb 13, 2023
Faculty Prof. Mainak Mazumdar

Fees Details

Duration Professional Fee*(Per participant) GST(18%) Total Fees(Per Participant) Programme Code
18 Hrs. 9,000.00 1,620.00 10,620.00 1 23 4 63
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