Business Plus

To become a good business journalist, it is essential to have a good grounding in basic economic theories. This course is designed to familiarize. students with the essentials of economic theory in microeconomics and macroeconomics. It will rely mainly on the globally used textbook by Paul Samuelson. To some extent the textbook by Richard Lipsey will also be used. The areas covered in microeconomics will be demand theory, supply theory, the concept of elasticity, utility, marginal analysis, market structures, and very rudimentary aspects of probability theory and game theory. The objective is to demonstrate to the students how, while analyzing economic and business phenomena, these concepts can be used to achieve a better understanding of individual, firm and industry level behaviour. In macroeconomics, the students will be exposed to the theories of John Maynard Keynes with a view to explaining how the State plays a crucial role in the economy. Fiscal policy, monetary policy, and international economics will be explained in their theoretical as well as practical aspects. Once again the objective is to equip students with the intellectual wherewithal so that they can report on complex economic phenomena in a simple and comprehensible manner.