Monday, October 22, 2012

ICWAI Foundation Syllabus - Economics and Business Funadamentals


A. ECONOMICS (60 marks)
1. Basic Concepts of economics 10%
a)      The Fundamentals of Economics & Economic Organizations
b)      Utility, Wealth,
c)       Basic Elements of Supply and Demand, elasticity Equilibrium
d)      Theory of Production, Cost of production,

2. Forms of Market 5%
a)      Perfect competition and Imperfect competition
b)      Pricing in perfect and imperfect competition

3. National Income 5%
a)      Gross National Product
b)      Net National Product
c)       Measurement of National Income
d)      Economic growth and fluctuations
e)      Consumptions, savings and investments

4. Theory of Employment 5%
a)      Type of unemployment
b)      Concepts of full employment
c)       Labour and Population theories
d)      Definition of capital and growth of capital
e)      Steps in capital formation

5. Money 10%
a)      Definition and functions of money
b)      Quantity theory of money
c)       Inflation and effect of inflation on production and distribution of wealth
d)      Control of inflation
e)      Money supply
f)       Liquidity preference and marginal efficiency
g)      Rate of interest and investment

6. Banking 10%
a)      Definition, Functions and utility of Banking, Principle of commercial banking, Essentials of sound banking system
b)      Multiple credit creation
c)       Functions of Central Bank
d)      Weapons of credit control and money market
e)      National & International Financial Institutions

7. International Trade 5%
a)      Basic feature of export and import
b)      Competitive advantage of trade

8. Public Finance 10%
a)      Direct and indirect taxes
b)      Principle of taxation
c)       Effect of taxation on production and distribution
d)      Deficit financing system

B. Business Fundamentals (40 marks)

9. Type of Business Unit 10%
a)      Sole proprietorship, Partnership, Companies, Cooperatives
b)      Hindu Undivided Family
c)       Joint Stock Companies, Public Utilities services, State Enterprises
d)      Limited Liability Partnership

10. Company Organization and Management 10%
a)      Types of companies and their formation
b)      Incorporation and commencement of business
c)       Memorandum of Association, Articles of Association and Prospectus, Shares and debentures, Board of Directors and General Meeting

11. Business Objectives 5%
a)      Concept and rationale of social responsibility
b)      Business and its environment, interface with legal, political, economic, social and cultural aspects

12. Stock Exchange and its workings 10%
a)      Dealers and brokers transactions
b)      Economic significance, condition of membership
c)       Role of stock exchanges, Depository participant

13. Business Communication and Report Writing 5%

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