Foundation Course:Economics

Innovation in Milleniums

Key

Tech

nolo

gies

Cotton, Coal Steel Energy Microelectronics ?pig iron Transport (especially oil)

1770 1840 1890 1940 1990

TextilesWater power Canals

Steam einginesMachines toolsRailwaysSteamships

Electrical +Heavy engineeringSynthetic dyesElectricity

AutosAirlinesCustomer durablesPetroChemicalsProcess PlantPlasticsHighwaysArmamentsAluminium

ComputersTelecommunicationsSoftwareCIMNew MaterialsISDNIT Services

BiotechnologySpace/satellite &Environmental Technologies

Early

M

echa

niza

tion

Indu

str ia

lizati

on

Steam power +railways

Electrical+heavy engineering

Ford’smass production

Information+communicationstechnology

Key ‘Carrier’sectors

Key IndustriesWaves of technological development 1770--1990

EconomicsWhat do you see?

EARTH DAY,MARCH 22 - PRESIDENT CLINTON IN TAJ ,AGRA

V I K R A M EV

SCOOTER

3 WHEELER

FRAME

MAGNETO

FOUNDRY

FORGING

COMPONENTS

ENGINE

DEALERSHIP

EXHAUST(POLLUTION)

EV

CNG

LPG

ENVIRONMENT

BATTERYLEASING

BATTERYCHARGING

FUELCELL

SOLARPOWER

SERVICE

SIL’S Opportunity for Economic Activities

Economics1. The branch of knowledge concerned with the production, consumption, and transfer of wealth.

2. The condition of a region or group as regards material prosperity. 

3. the branch of social science that deals with the production and distribution and consumption of goods and services and their management.

4. Economics was concerned with, An Enquiry into the Nature and Causes of Wealth of Nations Economics was concerned with, An Enquiry into the Nature and Causes of Wealth of Nations

Vision – 2021

“To be known for developing ethical global leaders and entrepreneurs striving for sustainability and inclusive growth.”

Mission Statements

1.To be the preferred choice for students, faculty and recruiters.

2. To create and disseminate knowledge in a global context.

3. To imbibe entrepreneurial culture through curriculum, pedagogy, research and mentoring.

4. To equip students for global business leadership.5. To develop faculty as global thought leaders.6. To ingrain ethics, sustainability and inclusive growth

in all its activities.

Values

Ethics and Integrity Sustainability and Transparency Innovativeness and Entrepreneurship

VALUE CREATION THROUGH INNOVATION

ENERGY CONSERVATION

WASTE INCINERATION

ENERGY GENERATION

FUEL CONSUMPTION

AIR POLLUTION CONTROL

OUTLET SMALL BOILERS INLET

WATER TREATMENT

POLYMER RESINS

NEW APPLICATIONS (PRECIOUS METALS, NUCLEAR PHARMA)

PROJECT MANAGEMENT (SERVICING AND CONSULTING)

HEAT-BASED COOLING SYSTEMS

WATER AND FUEL CHEMICALS

HEAT RECOVERYBIG BOILERS

Father of Economics?

Nobel Laureates in Economics?

Global Economy1. refers to the expansion of economies beyond national borders,

in particular, the expansion of production by transnational corporations to many countries around the world. The global economy includes the globalization of production, markets, finance, communications, and the labor force.

2. The international network of individuals, businesses, governments, and multilateral organizations which collectively make production and consumption decisions.

3. International economic activity which includes the world-wide integration of markets for goods, services, labor, and capital.

4. International economic activity which includes the world-wide integration of markets for goods, services, labor, and capital.

Global Economy: Business Context

International Multinational Transnational Multidomestic

WTO

WTO - SLOGAN

TRADE RATHER THAN AID.

WTO-OVERRIDING OBJECTIVES

HELP TRADE FLOW

•SMOOTHLY•FREELY•FAIRLY AND•PREDICTABLY

TRIPS AGREEMENT…..

TRIPS Agreement lays down norms and standards for seven types of intellectual property, viz•Copyright and related rights•Trademarks•Geographical indications•Industrial Design•Patents•Undisclosed information•Lay out design of integrated circuits.

Patent & Copyright

Ignorance “was” bliss“Thou shall not steal”

….. do not copy, cut and paste …..(without acknowledgement/Permission)

Today Onwards

Indian EconomyRank: 10th (nominal) / 4th (PPP) GDP: $1.53 trillion (nominal: 10th; 2010),

$4.06 trillion (PPP: 4th; 2010) GDP growth 8.5% (2010-11) Income per capita : $1,265 (nominal: 138th;

2010), $3,339 (PPP: 129th; 2010)GDP by sector services (55.3%), industry

(28.6%), agriculture (16.1%) (2010) GDP by sector: services (55.3%), industry

(28.6%), agriculture (16.1%) (2010)

0

80

USA

100 Domestic Economy

Internationalisation

Government

FinanceInfrastructure

Management

Science &Technology

PeopleINDIA (2010)

60

2040

Business Environment