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FOUNDATION COURSE - Syllabus 2016 Paper 1: Fundamentals of Economics and Management (FEM) Syllabus Structure

The document provides a syllabus for a foundation course covering fundamentals of economics and management. It is divided into two sections - fundamentals of economics (50%) and fundamentals of management (50%). The economics section covers basic concepts, market forms, national income, money, and banking. The management section covers evolution of management thought, the management process, group dynamics and organizational conflicts, and decision making. The course aims to provide basic knowledge in economics and an understanding of management concepts and principles. It will be assessed online through multiple choice questions testing knowledge and comprehension.

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Hemmu Sahu
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47 views2 pages

FOUNDATION COURSE - Syllabus 2016 Paper 1: Fundamentals of Economics and Management (FEM) Syllabus Structure

The document provides a syllabus for a foundation course covering fundamentals of economics and management. It is divided into two sections - fundamentals of economics (50%) and fundamentals of management (50%). The economics section covers basic concepts, market forms, national income, money, and banking. The management section covers evolution of management thought, the management process, group dynamics and organizational conflicts, and decision making. The course aims to provide basic knowledge in economics and an understanding of management concepts and principles. It will be assessed online through multiple choice questions testing knowledge and comprehension.

Uploaded by

Hemmu Sahu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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FOUNDATION COURSE_Syllabus 2016

Paper 1: Fundamentals of Economics and Management (FEM)

Syllabus Structure

A Fundamentals of Economics 50%


B A B Fundamentals of Management 50%
50% 50%

ASSESSMENT STRATEGY

On-line MCQ mode

OBJECTIVES
To gain basic knowledge in Economics at the macro and micro level and understand the
concept and principles of management
Learning Aims
The syllabus aims to test the student’s ability to:
 Understand the basic concepts of economics at the macro and micro level
 Conceptualize the basic principles of management
Skill sets required

Level A: Requiring the skill levels of knowledge and comprehension

CONTENTS Weightage
Section A : Fundamentals of Economics 50%
1.Basic concepts of Economics
2.Forms of Market
3.National Income
4.Money
5.Banking
Section B: Fundamentals of Management 50%
6. Evolution of Management Thought
7. Management Process
(a) Introduction, Planning, Organizing, staffing, leading,
control, communication, co-ordination
(b) Concept of Power
(c) Leadership & Motivation
8. Group Dynamics & Organizational Conflicts
(a) Group Dynamics
(b) Management of Organizational Conflicts
9.Decision-making – types and process

The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 3/10
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FOUNDATION COURSE_Syllabus 2016

Section A: Fundamentals of Economics [25 marks]


1. Basic Concepts of Economics
(a) The Fundamentals of Economics & Economic Organizations
(b) Utility, Wealth, Production, Capital
(c) Central Problems of an Economy
(d) Production Possibility Curve ( or Transformation Curve)
(e) Theory of Demand ( meaning, determinants of demand, law of demand, elasticity of
demand- price, income and cross elasticity) and Supply ( meaning , determinants, law
of supply and elasticity of supply)
(f) Equilibrium
(g) Theory of Production ( meaning , factors, laws of production- law of variable
proportion, laws of returns to scale)
(h) Cost of Production ( concept of costs, short-run and long-run costs, average and
marginal costs, total, fixed and variable costs)
2. Forms of Market
(a) Various forms of market- monopoly, perfect competition, monopolistic
competition, oligopoly, duopoly
(b) Pricing strategies in various markets
3. National Income
(a) GDP, NDP,GNP, NNP, Measures of National Income
(b) Personal Income, Private Income, Disposable Income
(c) Consumptions, Savings and Investment
(d) Economic growth and fluctuations
4. Money
(a) Definition and functions of money
(b) Inflation - meaning, effect on production and distribution of wealth, control
measures
5. Banking
(a) Definition, functions, utility, principles of Banking
(b) Commercial Banks, Central Bank
(c) Measures of credit control and Money Market
(d) National & International Financial Institutions

Section B – Fundamentals of Management [25 marks]


6. Evolution of Management Thought
(a) Evolution of Management thought – Classical, Neo-classical, Modern Theories
(b) Management Process – introduction, planning, organizing, staffing, leading, control,
communication, co-ordination.
7. Management Process
(a) Introduction, planning, organizing, staffing, leading, control, communication, co-
ordination
(b) Concept of Power, Authority, Delegation of Authority, Responsibility, Accountability
(c) Leadership & Motivation – Concept & Theories
8. Group Dynamics & Organizational Conflicts
(a)Group Dynamics- concept of group and team, group formation, group cohesiveness
(b) Management of organizational conflicts- reasons, strategies
9. Decision-making- types of decisions, decision-making process.

The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 4/10

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