PUNJAB COLLEGE OF TECHNICAL EDUCATION BADDOWAL

COURSE MODULE

Instructor: Ragini Khanna e mail ID- Khanna_ragini@yahoo.com Mb- 9988531999

Course: Managerial Economics (MB 105)

Class: MBA I Semester: I

“Managerial economics applies economic theory and methods to business and administrative decision making.”

Managerial Economics is concerned with the application of economic principles and

methodologies to business decision problems. In this course students will increase their

understanding of economics and learn a variety of techniques that will allow them to solve

business problems relating to costs, prices, revenues, profits, and competitive strategies. Students

will also get a macro view about National Income, GDP, GNP, Consumption Function, Inflation,

Monetary and fiscal policies.

The over-riding goal of the course is to make students better decision-makers in a business or

institutional context but the principles and techniques are also applicable to personal financial

and economic decisions. A subsidiary purpose of the course is to sharpen analytical skills so that

students will be better able to recognize and solve decision problems in different contexts.

Distribution of Marks:

MSE’s 15

First hourly 5

Second hourly 5

Presentation 5

Assignments 10

Assignment 1

Based on Demand Forecasting

Forecast the demand of any particular product with the help of a questionnaire. You can take any

product of your choice.

Assignment 2

Analyze any sector of the latest budget and study the trend of changes that has taken place in that

particular sector in the past 3 years.

Purpose- To give the students an understanding of how our economy is operating and what are

the various sectors which are contributing the most to our economy.

Assignment 3

Analyze in detail the latest monetary policy. Also study the various measures that have been taken by RBI to stabilize the economy.

Purpose- Practically understanding the topic discussed in the class and analyzing how the theoretical concepts are actually put into practice.

Activity 1

Read Economic Times!!

This activity involves discussion of latest news related to economy and business. News of every

Wednesday will be discussed on next Wednesday.

Purpose: To inculcate the habit of reading newspaper in students.

Activity 2

Group Discussion

Students will be given topics related to economy and business and will be asked to discuss them

in a group.

Lecture Lecture Content Assignments

1 Introduction to Managerial Economics as a part of MBA programme –

Its meaning and utility Why do managers need to know Economics? What does it includes and how it helps an MBA

in his/her life Application of Economics to Business decisions:

an example

2 Introduction to the concept of Economics

10 Principles of Economics

1. People face tradeoffs.2. Meaning of Opportunity Cost3. Rational people think at margins4. People respond to incentives5. Trade can make everyone better off

3 6. Markets are usually a good way to organize economic activity.

7. Governments can sometimes improve market outcomes.

8. A country’s standard of living depends on its ability to produce goods and services.

9. Prices rise when government prints too much money.

10. Society faces a short-run tradeoff between inflation and employment.

4 Application of Micro and Macro in ME Distinction between Micro and

Macroeconomics. Scope of ME Interdependence of ME and various

other disciplines.

5 Basic principles Of ME

Opportunity Cost principle Marginal and incremental principles

6 Basic principles Of ME

Discounting and Compounding principles Equi Marginal Principle

7 Demand Analysis- Meaning Of demand- Quantity demanded at any given time

Effective demand- Desire + Willingness to Buy + ability to buy

Types Of goods- Categorization on the basis of types of demand

8 Determinants Of Demand

Price Effect Income Effect

9 Determinants Of Demand

Prices of Related Goods Tastes Expectations

10 Elasticity Of Demand- Degree of Responsiveness of demand due to change in any one factor Factors affecting Elasticity - Type of Product, Number of Substitutes

11 Types of elasticity-

Price Elasticity of demand Income Elasticity of demand, Cross Elasticity of demand and Promotional Elasticity of demand

Relationship between Elasticity and total Revenue

12 Case Study 1- Making Magic: the Multiplex Way

13 Demand Forecasting- Ability to predict demand of various products, Need of Forecast - How does it affect Costs, Revenues Production, Types of Forecast - Active Forecasts, Passive Forecasts

Assignment 1

14 Market experiment Method - When actual or sample product is tried and tested in market 1. Actual Market, 2. Market simulation Method

15 Survey of Consumer Intentions- 1. Census Survey, 2. Sample Survey, 3.Test Marketing

16 Statistical Method - 1. Regression, 2. Correlation, 3.Moving Average, 4. Leading Indicator

17 Indifference Curve analysis-

Concept of Utility- Want Satisfying Power of Product,

Indifference Curve - Locus of points showing different

combinations of two products consumed and yielding

same level of satisfaction

18 Properties of Indifference curve

Consumer Equilibrium- Best satisfaction level of

consumer under Indifference curve analysis

19 Production Function- Relationship between factors of

production and output

Short Run- When atleast one factor of production is a

variable factor

Long Run Production Function - When all the factors

are variable factors

Law of Variable Proportions- Rate of change in output

due to change in proportions of one factor of production,

keeping other factor constant

20 Long Run Production Function- Application of Law of

returns to scale ie rate of change in output when all the

factors are variable

Iso Quants and Iso Cost Line- locus of combinations of

factors of production yielding same level of output and

same level of cost respectively.

21 Introduction to Cost Function- Relationship between production and cost function i.e. level of output will decide cost

22 Theory of Costs Concept of Cost- Payment made to all the factors of production Types of Costs- 1. Fixed Cost 2. Variable Cost 3. Short Run Cost 4. Long Run Cost

23 Types of Costs-(Contd.) 5.Average Cost, 6. Marginal Cost, 7. Incremental Cost, 8. Private Cost, 9. Sunk Cost, 10.Externalities

24 Short Run Cost Function- Explanation of different cost Curves under Short Run Function

25 Long Run Cost Function- Behavior of cost when all the factors are variable Short Run Vs Log run- Which Function to adopt at what level of output

26 Price Function- Function decided by demand and supply forces Movement of Price- Case where Demand and supply moving in same direction Case Where demand and supply move in opposite Direction

Factors affecting Price of Product

27 Types of Pricing Techniques-

Cost based Pricing, Marginal Pricing, Penetration Pricing, Price Skimming Strategy

Breakeven analysis - Point of No Profit No Loss

28 Market Structure

Concept of Market - Place where buyers and sellers

come together to sell a product,

Classification of market on the basis of degree of

competition

Perfect Competition- characterized by Large number of

players selling alike Product

Monopolistic Competition- characterized by large

number of buyers and sellers selling heterogeneous

products e.g. daily use Products like Toothpaste

Oligopoly - Characterized by few big players selling

Heterogeneous or homogenous Products e.g. Automobile

Market

Monopoly - characterized by one Player selling unique

Product

29 Perfect Competition- Price and output determination under perfect competition giving rise to

Supernormal Profits, Normal Profits, Losses

Case Study 2- Indian Stock Market: Does it explain perfect Competition?

30 Monopoly - Features, Price Discrimination Charging different set of prices for same Product, Degrees - Ist Degree, IInd Degree, IIIrd Degree output Price and output determination under Pure monopoly

31 Price and output determination under discriminating

monopoly - In two different markets, where in one is

perfect competition and other has monopoly

Myths under Monopoly markets

32 Monopolistic competition- Price and output determination

Case Study 3 : Microeconomics : Wal-Mart and Monopolistic Practices

33 Oligopoly

Cournot model: Price and output is determined under

zero Cost Structure Ex Mineral Water.

Perfect Collusion model- when cartel is being formed

by all players on mutual understanding and agrees to

share profits equally

34 Kinked Demand Model- when upper part of demand

curve is highly elastic and lower portion is highly

inelastic gives rise to kink in demand curve at its centre

and making a price of product a rigid price.

35 Introduction to Macro Economics - Study of group of

variables, Macroeconomic Policies

36 National Income- Amt of goods and services produced

within one fiscal year at their market Prices

GDP- Amt of goods and services produced within

domestic boundaries if country by anybody including

foreign national

GNP- Amt of goods and services produced by Indian

National residing in any part of world.

Assignment 2

37 Methods of Measuring National Income-

Income Method, expenditure Method, Value added Method

38 Social Accounting- Meaning, Method

39. Consumption Function- Relationship between

Consumption and income of an individual,

Attributes- Marginal propensity to consume and

Average Propensity to consume,

Keynes Psychological Law of Consumption

40. Dussenbery and fried Man Hypothesis- Shows the

movement of APC and MPC over a long period of time

41 Classical Theory of Income, output and Employment

Assumes Level of Full employment is a normal situation

42 Principle of effective Demand point where aggregate

demand price is equal to Aggregate supply Price,

Keynes theory of Income, Output and employment-

Proves level of Full employment is abnormal situation

and level of under employment a normal situation for any

economy

43 Theory of Multiplier- Relationship between investment

and income generation

Static Multiplier- That does not take into consideration

any time lag between income and consumption

Dynamic Multiplier- that takes into consideration time

lag between income and consumption,

Leakages of Multiplier

44 Government Multiplier, Tax Multiplier, Balanced

Budget Multiplier

45 Inflation- When too much money is chasing too few a goods

Types of Inflation causes of Inflation- Supply or Demand

46 Monetary Policy & Fiscal Policy Assignment 3

Case Study 1: Making Magic: the Multiplex Way

The middle class of India, a virtual nonexistent entity on Independence, has gradually become

more sensible, educated and demanding. The overall growth of the economy has given a

tremendous thrust to the middle class, expected to grow by 5 to 10 percent annually. It has grown

over 57 million by 2001-02 and is expected to cross 153 million by 2009-10.

The average household income in urban India has grown at a CAGR of 5 per cent over the last

decade. Not only is this, but the age profile of the Indian spenders is also undergoing a sea of

changes. NCAER has identified five categories of households on the basis of income which is

summarized in Table 1 below

Table 1: Classification of Indian Households on the basis of Income

No. of Households (In Millions)

1994-95

1999-2000 2006-07

Very Rich

Consuming

Climbers

Aspirants

Destitute

1

29

48

48

35

3

55

66

32

24

64

91

74

15

13

(Source: NCAER)

Table 1 reveals the paradigm shift in Indian households over the last decade. The number of

effective consumers is expected to exceed 600 million by 2010. This big bang consumerism in

India is being seen as the driving force in the emergence of various new businesses, which aim at

riding the consumer tide. Availability of easy financing schemes is another aspect of the story:

owning a house, or buying a car, or going abroad on a pleasure trip is no more a distant dream to

the average Indian Consumer! With the consumers’ composition gradually getting skewed

towards the young, there is a greater tendency towards increased spending on consumption. A

very interesting piece of information is that average Indian Household has increased its spending

on movies and theatres from 1 to 4.6 per cent of its disposable income. This amazing spurt in

spending on entertainment has affected the quality and delivery of films as an industry. The

single screen theatres with poor maintenance and inadequate infrastructure are gradually paving

way for high tech multiplexes with three to as many as eleven screens, digitalized films and

Dolby surround audio system. The industry is undergoing a swing, driven by consumer behavior.

Reports indicate that multiplexes account for 0.6 per cent of the total cinemas, 2.3 per cent of the

total screens and have a total capacity of more than two lac seats. The average gross collection

per multiplex is around Rs.5.72 crore fetching about 29 to 35 per cent of the revenue for the film

industry.

India’s multiplex bandwagon has spread its tentacles beyond the metros to redefine

entertainment in B and C class towns. While the first phase of the growth of multiplexes was in

metros, now this growth is spreading to tier two and three cities like Lucknow, Indore, Nasik,

Aurangabad and Kanpur. Top multiplex players like PVR, Adlabs Films, Inox Leisures, Shringar

Cinemas (Fame Multiplex), Fun Multiplex and Cinemax India are venturing to small towns

across the country and redefining entertainment to the vast Indian masses.

The multiplex business has rightly tapped the growth of consumerism in India as it has

understood the pulse of the Indian consumer’s preference towards superior ambience,

comfortable seating, air-conditioning and good quality snacks, even at the cost of paying a higher

price. The average price of ticket in a conventional theatre is Rs. 15-35, while a multiplex

charges on an average price of Rs. 75-350 and consumer is willing to dish out this extra amount

to enjoy the “complete” movie experience, which most of the traditional theatres could not

render and are thus facing the fate of near extinction. It thus promises to take the moviegoers’

experience to a whole new level and giving a new dimension to watching movies at theatres.

Posers

1. What lessons can you draw from the above case regarding consumer behavior?

2. Do you think change in consumer perception in middle class has been instrumental in

emergence of multiplexes? What can be the other reasons?

3. Observe Table 1. Which of the groups, according to you, would have demand for

multiplexes?

4. Would law of diminishing marginal utility apply to movie watching? Will this affect the

growth rate of multiplexes? Or can it be seen as a cause for establishment of multiplexes?

Give argument in support of your contention.

5. Can multiplexes use the concept of consumer surplus for attracting more consumers?

How?

Case Study 2: Why Does Popcorn Cost So Much at the Movies?

Moviegoers aren't being gouged when they pay big bucks for

popcorn, says economist Ricard Gil.

Movie theaters are notorious for charging consumers top dollar for concession items such

as popcorn, soda, and candy. Are moviegoers just being gouged?

 

New research from Stanford and the University of California, Santa Cruz suggests that there is a

method to theaters' madness--and one that in fact benefits the viewing public. By charging high

prices on concessions, exhibition houses are able to keep ticket prices lower, which allows more

people to enjoy the silver-screen experience.

The findings empirically answer the age-old question of whether it’s better to charge more for a

primary product (in this case, the movie ticket) or a secondary product (the popcorn). Putting the

premium on the "frill" items, it turns out, indeed opens up the possibility for price-sensitive

people to see films. That means more customers coming to theaters in general, and a nice profit

from those who are willing to fork it over for the Gummy Bears.

Indeed, movie exhibition houses rely on concession sales to keep their businesses viable.

Although concessions account for only about 20 percent of gross revenues, they represent some

40 percent of theaters' profits. That's because while ticket revenues must be shared with movie

distributors, 100 percent of concessions go straight into an exhibitor’s coffers.

Looking at detailed revenue data for a chain of movie theaters in Spain, Wesley Hartmann,

associate professor of marketing at the Graduate School of Business, and Ricard Gil, assistant

professor in economics at University of California, Santa Cruz, proved that pricing concessions

on the high side in relation to admission tickets makes sense.

They compared concession purchases in weeks with low and high movie attendance.

The fact that concession sales were proportionately higher during low-attendance periods

suggested the presence of "die-hard" moviegoers willing to see any kind of film, good or bad--

and willing to purchase high-priced popcorn to boot. "The logic is that if they’re willing to pay,

say, $10 for a bad movie, they would be willing to pay even more for a good movie," said

Hartmann. "This is underscored by the fact that they do pay more, even for a bad movie, as is

seen in their concession buying. So for the times they’re in the theater seeing good or popular

movies, they’re actually getting more quality than they would have needed to show up. That

means that, essentially, you could have charged them a higher price for the ticket."

Case Study 3: Microeconomics: Wal-Mart and Monopolistic Practices

QUESTION: Should Wal-Mart be considered a monopoly?

I. Why Wal-Mart Should Be Considered A Monopoly:

For the fifth time in six years Wal-Mart has been named the biggest company in the world. Below are some figures from CNNMoney’s section on fortune 500 (global) companies for 2007:

General Merchandise Industry

Revenues, profits

Profits as % of…

Rank Company

Global 500

rank Revenues

Profits

($ millions)1 Wal-Mart Stores 1 351,139.0 11,284.02 Target 96 59,490.0 2,787.03 Sears Holdings 114 53,012.0 1,490.04 Foncière Euris 204 32,237.0 95.45 Macy’s 227 28,711.0 995.0

6 PPR 296 23,191.6 859.87 J.C. Penney 352 19,903.0 1,153.08 Marks & Spencer 458 16,267.5 1,248.19 Kohl’s 487 15,544.2 1,108.7

From the July 23, 2007 issue

Looking at the figures, it’s rather blatant that Wal-Mart is monopolizing. What exactly is going

on? Is it legal? Is it good for America as a nation?

The text book reason for why Wal-Mart is ‘successful’ is because of its ways of increasing profit

and revenues by restricting output …the goal all businesses have. The not so clean reason is that

the way they restrict output is by ‘rolling back’ their employee’s wages and rights, and acting as

their own distributor rather than having a wholesaler. Although the latter may not seem like bad

idea at first, if you take a closer look and take into consideration the fact that all the smaller

businesses and local stores do not have the means of eliminating THEIR wholesalers (keeping

prices up)…the general merchandise industry becomes a scary place to be in right now in a free

market economy such as ours. Why would people buy something from a smaller store in their

town for more money when they can walk down the street and buy the same thing at a cheaper

price? This very situation is the reason Wal-Mart has in fact become a monopoly…the

elimination of competition. Smaller stores selling the same products will inevitably go out of

business because people will search for the smallest opportunity cost and with the big box giant

stores on every corner, you just can’t beat low prices AND local availability. As for the

manipulation of employee’s wages and rights, this tactic is blatantly unethical and bad for

society. The average Wal-Mart employee hardly makes enough money annually to hit the

poverty line which in 2001 was $14,630 and employees were making on average $13,861.

‘Associates’ were making $8.23 per hour as opposed to the average hourly rate of $10.35 for

supermarket workers. This may not seem all together too bad but you must take into

consideration the fact that Wal-Mart rarely lets workers work 40+ hours a week (full time) and

they also do not include a healthcare plan or offer ones at affordable prices for a person working

there. It’s pretty obvious that this is a problem if you read the itemized taxes on your own pay

check every other week. On average, for one Wal-Mart with 200 employees taxpayers pay

$421,000 a year. All of this money goes toward free and reduced lunches, section 8 housing

assistance, federal tax credits and deductions for low income families, title I education funds,

children’s health insurance costs, and subsidies for energy assistance. And that’s just for ONE

store!

The wise Jeremy Bentham once said “…It is the greatest happiness of the greatest number that is

the measure of right and wrong.” Who is benefiting from the practices of this massive

merchandiser? It may seem like we are paying less for our goods, but we make up for it in our

taxes. All in all, Wal-Mart is a detriment to America as a nation and is illegally acting as a

monopoly. The big box retailer, the biggest company in the world, needs to either be shut down

due to illegal practices or start paying their employees reasonable wages because American

citizens should not be the ones doing it for them (3, 2 and 4.)

II. Why Wal-Mart Should Not Be Considered a Monopoly:

Wal-Mart is the largest company in the world. That also makes it the largest (private sector)

employer in the world! All allegations stating the big box retailer is bad to employees and makes

healthcare plans unattainable are false accusations.

It is a fact that 86% of the associates do indeed have health insurance and those that do not are

only lacking because they chose themselves to go with Medicaid rather than with one of the

company’s plans. Wal-Mart is not a monopoly, there are plenty of other general merchandisers in

the industry including Target, Sears, Macy’s and J.C. Penny’s all of which have the same

opportunities to work with but all of which choose to keep prices high in an effort to gain

substantial profits. Wal-Mart chooses to help the people (and stockholders, many of which are

associates!) by keeping goods affordable. The annual stats from 2007 show the company’s’

revenues to be  $351,139 million, profits to be $11,284 million, assets to be $151,193 million

and stockholders’ equity to be $61,573 million as opposed to, say, Exxon Mobile’s stats (in slot

number 2) of  $347,254 million in revenue, profits of $39,500 million, assets of $219,015 million

and Stockholder’s equity of $113,844 million. It’s obvious from these statistics profit is not the

main concern. As for having a large company in rural areas…yes, the bigger stores do tend to

cause the smaller ones within a small radius to die out…but that’s the consumer’s choice and it’s

mostly just due to convenience. If you travel a few miles down the road you will see Wal-Mart

actually IMPROVES competition in that stores adapt and start to offer better services and goods

in order to stay in the game. Not only that but for example, unlike Sears, a more catalogue based

store, Wal-Mart offers so many jobs to people in the community it’s actually helping the

economy flow locally. Stockholders for saw the success of Wal-Mart and invested, what would

happen to them (many of them who are also employees) if the store is labeled inappropriately as

a ‘monopoly?’ They made a good choice, made some money and then would have to lose it all

only because some feel the store is getting too big.

To conclude, I’d like to again point out that the Wal-Mart store is in business to help people and

it’s because of this motto that everything has been successful (1, 2, 3, 4 and 5.)

III. Conclusion:

After reviewing multiple sources of research, it is plain that Wal-Mart is guilty of monopolistic

practices. Why should they have an un-fair advantage over other businesses when the only

reason they’ve ‘gotten ahead’ in the game is by manipulating others and basically just cheating

their way through loop holes? They don’t pay their workers well enough, they need to give full

time workers whose families depend on their salaries better (if they had any to begin with) heath

care plans, and they need to stop contributing to the widening gap between the rich and the poor.

Okay, sure 86% of the stores ‘associates’ DO have some sort of health care…but only 48% of

them are insured directly by their employer whereas the other 86% are under either their spouses

plan or something else. Healthcare plans are not cheap; why aren’t the other 86% (with the

exception of those using the insurance of their spouse) under a plan set up for them by Wal-

Mart? American tax payers should not be the ones paying the difference between a Wal-Mart

employee’s salary and the money he/she should be making in order to be able to afford basic

necessities. Although it seems they are trying to shape up (only because the media has it’s eye on

them now) this is a matter of ethics. Wal-Mart shouldn’t need the pressure of widespread media

criticism to treat workers like human beings; it is obvious by the insane amount of money they

undoubtedly spend on advertising to tell America how good their ‘associates’ are really being

treated that they care more about the company then their workers as people and an eye should be

kept on their practices at all times.

Case Study 4: India in Search of a way to Harness the Inflation “Dragon”

India has seen high rates of inflation until the early nineties and faced its attendant consequences.

Since mid nineties the priority for policy maker has been to bring inflation to single digit. Just

like an appropriate diagnosis is must for proper treatment, similarly an inquiry into the causes of

Inflation in the country is necessary. Today inflation is not merely caused by domestic factors

but also by global factors. And that is natural, as the Indian economy undergoes structural

changes the causes of domestic inflation too have undergone changes.

The economy of India is growing at a satisfactory 8 to 9 percent a year. Therefore change in

purchasing power of people is natural and when we take to national level, it is a huge amount.

Given the size of population of India even a small increase of Rs.100 in the per capita income

would mean an additional aggregate demand worth Rs.110 billion. This has put an extraordinary

highly demand on various commodities.

What has further compounded the problem is the inflow of foreign investments, which is the

natural fallout of globalization. The excessive global liquidity has facilitated buoyant growth of

money and credit in 2005-06 and 2006-07. For instance near-zero interest rate regime in Japan

has encouraged people to borrow in Japan and invest elsewhere for higher returns. Obviously,

some of this money, estimated by experts to be approximately $200 billion, has undoubtedly

found its way into the asset markets of other countries in alternative investments such as

commodities, stocks, real estates and other markets across continents, leveraged many times

over. And India is emerging as an attractive destination. The net accretion to the foreign

exchange reserves aggregates to in excess of about Rs.225, 000 crore in 2006-07. Crucially, this

incremental flow of foreign exchange into the country has resulted in increased credit flow by

our banks. Naturally this is another fuel for growth and inflation.

Further, the sustained flow of foreign money has fuelled the rise of the stock markets and real

estate prices in India to unprecedented levels. This boom has naturally led to corresponding

booms in various related markets as much as the increased credit flow has in a way resulted in

overall inflation. As pointed out in the Economic survey 2007-08, the current bout of inflation is

caused by a multiplicity of factors, mostly monetary and global.

To conclude, it must be understood that growth naturally comes with its attendant costs and

consequences. The government has been aiming at keeping inflation below 5% but it keeps on

deceiving now and then. A stock market boom, a real estate boom and a benign inflation in

consumer goods market is an economically impossible idealism. These are the pointers to a need

for a different strategy to handle inflation.

Reserve Bank of India’s strategy of Market Stabilization Scheme (MSS) to dealing with

excessive liquidity, the increase in repo rates to make credit over extension costly and CRR to

restrict excessive money supply have limitations with such huge forex inflows.

While these policies are usually intertwined and typically compensatory, one has to understand

that the issues with respect to inflation cannot be subjected to conventional wisdom in the era of

globalization.

The government has to find out some unconventional methods of controlling inflation besides

focusing on timely implementation of infrastructure projects and improving productivity to fill

demand supply gap. One such measure could be revaluation of Indian rupee against dollars.

Presentation Rules

1. The students will be divided into groups of 4.

2. The presentations will start at 9 a.m.

3. The duration of each presentation will be 15 to 20 minutes.

4. The preceding group will ask questions to the succeeding group and will get

marks, depending upon the validity of the question being asked.

5. The students are supposed to submit the synopsis of the material beforehand.

6. The evaluation criteria for presentation is as follows:-

Formals: 5

Presentation skills: 10

Query handling: 3

Questions: 2

Content: 10

Presentation Topics:

Inflationary pressure on the Automobile Industry

Euro Zone Crisis

Credit Rating Agencies

Negative Inflation: An unwelcome phenomenon?

Corporate Governance: Issues & Challenges

G-10 Nations

Deregulation of fuel prices

Falling oil prices: the economic impact

Globalization of Indian Banks

Domestic Airlines: joy of flying, No more!

Growth opportunities: In Africa for India

Consumption pattern of India

How viable is the National ID Project?

Fortunes of the Indian Diamond Industry.

SEBI VS IRDA