Fundamental of Economics

Economic is a social science concerned with the production, distribution and consumption of goods & services.

1. Adam Smith ( Father of Modern Economic ) define Economic as –

Ø Economic is a study of Wealth

Ø Known as “Wealth Definition”.

2. Prof. Alfred Marshall define as –

Ø Economic is a study of mankind in the ordinary business of life.

Ø It examine that part of individual and social action which is most closely connected with the attainment and the use of the material requisites of well being.

Ø Known as “Welfare Definition”

3. Lionel Robbins define as –

Ø Economic is a science which studies human behavior as a relationship between ends & scare means which have alternative uses.

Ø Known as “Scarcity Definition”

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Comparison Between Microeconomic & Macroeconomic

Microeconomic	Macroeconomic
It studies economic problem at an individual level	It studies economic problem at an level of an economy as a whole i.e GDP, Unemployment rate & price indices.
It determine the output and price for the individual firm.	It determines an aggregate output and general price level in the whole economy.
Demand and supply are its main tools.	Aggregate demand and aggregate supply are its main tools.
Its assume all the macro variable to be constant as National income, Consumption, Saving etc.	Its assume all the micro variable to be constant as demand of household, supply of firm, prices of individual product etc.

THREE ECONOMIC QUESTION

There are three questions every society must answer -

1. What will be produced ?

2. How will it be produced ?

3. For whom will it be produced ?

TYPE OF ECONOMY

Market / Capitalistic Economy	Command / Socialistic Economy	Mixed Economy
In which individuals and private firms make the major decisions about production and consumption	In which the Government make all the important decisions about production and distribution	Decisions are made by business based on consumer demand however Govt. also makes some decision
“Laissez-faire” economy		In India
In England

Important Book & Author

1. An Enquiry into the Nature and Causes of the Wealth of Nations – Adam Smith

2. General Theory of Employment, Interest and Money – John Maynard Keynes

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BANK FINANCIAL MANAGEMENT

BANK FINANCIAL MANAGEMENT

Module A: International Banking

v  Exchange Rate and Forex Business

v  Basic of Forex Derivative
v  Correspondent Banking and NRI Account
v  Documentary Letter of Credit
v  Facilities of Exporter and Importer
v  Risk in Foreign Trade – Role of ECGC
v  Role of Exim Bank, Reserve Bank of India, Exchange Control in India - FEMA & FEDAI & other

Module B: Risk Management

v  Risk & Basic Management Framework

v  Risk in Banking Business
v  Risk in Regulation in Banking Industry
v  Market Risk
v  Credit Risk
v Operational Risk & Integrated Risk Management

Module C: Treasury Management

v  Introduction to Treasury Management

v  Treasury Product
v  Funding & Regulatory Aspects
v  Treasury Risk Management
v  Derivative Products
v  Treasury and Asset-liability Management

Module D: Balance Sheet Management

v  Component of Assets and Liability in Bank’s Balance Sheet and Their Management

v  Banking Regulation and Capital
v  Capital Adequacy – The Basel – II Overview
v  Supervisory Review
v  Pillar 3 – Market Discipline
v  Asset Classification and Provisioning Norms
v  Liquidity Management
v  Interest Rate Risk Management
v  RAROC and Profit Planning    

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