Presentation on theme: "Foundation Course: Economics. Innovation in Milleniums."— Presentation transcript:
Foundation Course: Economics
Innovation in Milleniums
Key Technologies Cotton, Coal Steel Energy Microelectronics ? pig iron Transport (especially oil) 17701840 1890 1940 1990 Textiles Water power Canals Steameingines Machines tools Railways Steamships Electrical + Heavy engineering Synthetic dyes Electricity Autos Airlines Customerdurables PetroChemicals Process Plant Plastics Highways Armaments Aluminium Computers Telecommunications Software CIM New Materials ISDN IT Services Biotechnology Space/satellite & Environmental Technologies Early Mechanization Industrialization Steam power +railways Electrical+heavy engineering Fords mass production Information+ communications technology Key Carrier sectors Key Industries Waves of technological development 1770--1990
Economics What do you see?
V I K R A M EV
SCOOTER 3 WHEELER FRAME MAGNETO FOUNDRY FORGING COMPONENTS ENGINE DEALERSHIP EXHAUST (POLLUTION) EV CNG LPG ENVIRONMENT BATTERY LEASING BATTERY CHARGING FUEL CELL SOLAR POWER SERVICE SILS Opportunity for Economic Activities
Economics 1. The branch of knowledge concerned with the production, consumption, and transfer of wealth. 2. The condition of a region or group as regards material prosperity. 3. the branch of social science that deals with the production and distribution and consumption of goods and services and their management. 4. Economics was concerned with, An Enquiry into the Nature and Causes of Wealth of Nations Economics was concerned with, An Enquiry into the Nature and Causes of Wealth of Nations
Vision – 2021 To be known for developing ethical global leaders and entrepreneurs striving for sustainability and inclusive growth.
Mission Statements 1.To be the preferred choice for students, faculty and recruiters. 2.To create and disseminate knowledge in a global context. 3.To imbibe entrepreneurial culture through curriculum, pedagogy, research and mentoring. 4. To equip students for global business leadership. 5.To develop faculty as global thought leaders. 6.To ingrain ethics, sustainability and inclusive growth in all its activities.
Values Ethics and Integrity Sustainability and Transparency Innovativeness and Entrepreneurship
Innovation Process Invention Commercial- ization Idea Generation Innovation Product & Process Development
VALUE CREATION THROUGH INNOVATION ENERGY CONSERVATION WASTE INCINERATION ENERGY GENERATION FUEL CONSUMPTION AIR POLLUTION CONTROL OUTLET SMALL BOILERS INLET WATER TREATMENT POLYMER RESINS NEW APPLICATIONS (PRECIOUS METALS, NUCLEAR PHARMA) PROJECT MANAGEMENT (SERVICING AND CONSULTING) HEAT-BASED COOLING SYSTEMS WATER AND FUEL CHEMICALS HEAT RECOVERY BIG BOILERS
Father of Economics?
Nobel Laureates in Economics?
Global Economy 1.refers to the expansion of economies beyond national borders, in particular, the expansion of production by transnational corporations to many countries around the world. The global economy includes the globalization of production, markets, finance, communications, and the labor force. 2.The international network of individuals, businesses, governments, and multilateral organizations which collectively make production and consumption decisions. 3.International economic activity which includes the world-wide integration of markets for goods, services, labor, and capital. 4.International economic activity which includes the world-wide integration of markets for goods, services, labor, and capital.
Global Economy: Business Context International Multinational Transnational Multidomestic
WTO - SLOGAN TRADE RATHER THAN AID.
WTO-OVERRIDING OBJECTIVES HELP TRADE FLOW SMOOTHLY FREELY FAIRLY AND PREDICTABLY
TRIPS AGREEMENT ….. TRIPS Agreement lays down norms and standards for seven types of intellectual property, viz Copyright and related rights Trademarks Geographical indications Industrial Design Patents Undisclosed information Lay out design of integrated circuits. Patent & Copyright
Ignorance was bliss Thou shall not steal ….. do not copy, cut and paste ….. (without acknowledgement/Permission) Today Onwards
Indian Economy Rank: 10th (nominal) / 4th (PPP)10th4th GDP: $1.53 trillion (nominal: 10th; 2010), $4.06 trillion (PPP: 4th; 2010)10th4th GDP growth 8.5% (2010-11) Income per capita : $1,265 (nominal: 138th; 2010), $3,339 (PPP: 129th; 2010)138th129th GDP by sector services (55.3%), industry (28.6%), agriculture (16.1%) (2010) GDP by sector: services (55.3%), industry (28.6%), agriculture (16.1%) (2010)
0 80 USA 100 Domestic Economy Internation alisation Government Finance Infrastructure Management Science & Technology People INDIA (2010) 60 20 40 Business Environment