Nature and significance of economics, science, engineering, technology and their relationship with economic development, appropriate technology for developing countries.

Demand, supply, elasticity of demand and supply,

Competition : monopoly, oligopoly, monopolistic competition, causes creating categories of monopoly organisation, price determination under perfect competition and monopoly, price discrimination, equilibrium of firm under competition and monopoly.

Functions of money, supply & demand for money, money price level & inflation, black money, meaning, magnitude & consequences

Functions of Commercial banks, multiple credit creation, banking system in India, shortcomings & improvements.

Central banking : function of central banking illustrated with reference to RBI, monetary policy making, objectives and features.

Sources of public revenue, principles of taxation, direct and indirect taxes, distribution of incidence, tax structures, reform of tax system

Theory of international trade, balance of trade and payment, theory of protection, tariffs and subsidies. foreign exchange control, devaluation

New economic policy : Liberalisation, extending privatisation, globalisation, market friendly state, export-led growth.

Causes of underdevelopment, determinants of economic development, economic and non- economic factors, stages of growth, strategy of development, big push, balanced & unbalanced, critical minimum effort strategy, necessity & type of economic planning.

Management functions, responsibilities of management to society, development of management thought, contribution of F.W. Taylor, Henri Fayol, Elton Mayo, system contingency approaches to management.

Nature of planning, decision making process, management by objectives.

Organisation structures : Functional product matrix, flat and vertical structures, authority relationships, de-centralisation and delegation of authority.

Communication process, media channels and barriers to effective communication. Maslow, Herzberg and Macgregors theory of motivation. McClellands achievement motivation, Blanchards situational leadership theory.

Production Management : Production planning and control, work study, materials management.

Preventive maintenance,Quality control,Total quality management,Quality Circles.

Need for good cost accounting system, cost control techniques of financial control, financial statements, financial ratios, break-even analysis, budgeting and budgetary control.

Marketing functions. Management of sales and advertising marketing research.

Human Resource management - selection, training and appraisal and compensation administration.

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