72238255 CAIIB Super Notes Advanced Bank Management Module a Economic Analysis Fundamentals of Economics Microeconomics and Macroeconomics and Type of Eco

8/9/2019 72238255 CAIIB Super Notes Advanced Bank Management Module a Economic Analysis Fundamentals of Economics Microeconomics and Macroeconomics and Type of Eco

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CAIIB – Super-Notes© M S Ahluwalia Sirf Business

Fundamentals of Economics, Microeconomics

and Macroeconomics and Type of EconomiesModule A: Economic Analysis

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CAIIB –

SUPER NOTES

Advanced Bank Management: Fundamentals of Economics,

Microeconomics and Macroeconomics and Type of Economies

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Contents

Coverage:

1. Economics – An

Introduction

2. Microeconomics and

Macroeconomics

3. Problem of an EconomicOrganisation

4. Types of Economies



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ECONOMICS- AN INTRODUCTION

1.



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Economics

Economics

Economics

A Study ofWealth

A Study ofWealth

Science ofHumanWelfare

Science ofHumanWelfare

A Study of‘Means’and ‘Ends’

A Study of‘Means’and ‘Ends’



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A Study of Wealth

• Adam Smith’s Definition: The subject matter of economics is

the study of how wealth is produced and consumed.

•

Also known as the ‘wealth definition’



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Science of Human Welfare

• Prof. Alfred Marshall’s Definition: ‘Economics is a study of

mankind in the ordinary business of life. It is on one side, the

study of wealth and more important side, a part of the study

of man.’

• The ultimate purpose of Economics is to promote well-being

or welfare.

• Also known as the ‘welfare definition’



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A Study of ‘Means’ and ‘Ends’

• Lionel Robbins’ Definition: ‘Economics is the science which studies

human behaviour as a relationship between ends and scarce

means which has alternative uses.’

• Also known as the ‘scarcity definition’

• Important aspects:

– Man has unlimited wants

– The means to satisfy human wants are limited

– Resources are not only limited but have alternative uses

– Man has to make a choice. Economics is the science of choice.



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MICROECONOMICS AND MACROECONOMICS

2.



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Microeconomics and Macroeconomics

• Microeconomics is a branch of economics that studies how

households and firms make decisions to allocate limited

resources, typically in markets where goods or services are

being bought and sold. Focused on individual agents.

• Macroeconomics deals with the performance, structure and

behaviour of a national or regional economy as a whole.



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PROBLEM OF AN ECONOMICORGANISATION

3.



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3 Problems of an Economic Organisation

What is to be produced?What is to be produced?

How are the goods to be produced?How are the goods to be produced?

For whom are they produced?For whom are they produced?



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Do you have any questions or queries or some feedback to give?

Just mark an email to [email protected]

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CAIIB – Super-Notes© M S Ahluwalia Sirf BusinessFor more Super-Notes: Click Here

M S Ahluwalia, amongst other things, is a visual artist, blogger,

blog designer and of course an MBA and Banker from New

Delhi, India.

To know more about him you may visit his blog-site: Estudiante De La Vida
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72238255 CAIIB Super Notes Advanced Bank Management Module a Economic Analysis Fundamentals of Economics Microeconomics and Macroeconomics and Type of Eco