Post Graduate Diploma in Business Management

Course Content

5. International Economics:

This subject is an integral part of the course and incorporates the recent trends and developments in International economics. Special attention has been paid to trade policy and trade performance of India against the background of globalising world economy. There is a detailed account of WTO and trade liberalization with special reference to developing countries.

• We start with the theory of International Trade and cover The Pure Theory of International Trade both on the Supply and Demand side. We then look at how trade affects Income Distribution and also cover the issues of changes in trade and economic growth to give the students a wide view of the overall theory of International Trade.

• The next stage covers Trade Policy, wherein we cover the basic analysis of Tariff and its effect on consumers and producers; the pros and cons of Tariff; National policies that affect trade; OPEC and other International Cartels; the affect of changing leadership on trade policy; agricultural policy and International trade and finally a look at trade policies and developing countries in addition to the Political influence in Trade Barriers.

• The third section in this subject covers the important aspect of understanding Foreign Exchange. Here we explore the foreign exchange market and explain the determinants of exchange rates, Balance-of Payment, modern foreign exchange policies and the perils of unstable exchange rates.

• The next part takes the students on an adventure into Macro-economic policies for Open Economies which looks into issues related to Income and foreign exchange, internal and external balance with fixed exchange rates, floating exchange rates and internal balance, the dynamic nature of global money and the changes taking place in this day and age.

• The final part of this subject deals with Factor Movements involving International movement of labour; International Lending; World Debt Crisis; Direct Foreign Investment and Multinationals.

Supplied Text to the students: International Economics by W Charles Sawyer & Richard L Sprinkle.

6. Business Law:

The subject familiarizes the students with Business Law and its binding importance in business. The Indian context is taken as the platform for the extrapolation of this part of the course. The various legal acts related to business are looked into to understand the standing of the significance of business law in this day and age.

• Introduction is made with term “contract” covering the nature and kinds of contracts in addition to the detailing of the terms Offer and Acceptance and their legal relevance and binding. The students then understand the meaning of the term “consideration” and the kinds of considerations along with the legal rules regarding considerations.

• The question of the capacity of parties is raised and discussed to understand the capacity of the part to be able to enter into a contract wherein we discuss the issues of minors, people of unsound mind and other such entities. The issue of the consent of all parties to a contract is detailed covering Coercion, Undue Influence, Misrepresentation and errors. Further the legality of objectives of the contract, are covered with examples of contracts that may be declared legally void in the event of the objects conflicting with the law.

• Contingent Contracts and their essentials are covered in addition to the important aspect of the performance of contracts as well as the issue of discharge of contracts by consent, by operation of law or by lapse of time. The discharge of contracts by breach of contract and its consequences are also detailed. We complete the section on contracts by examining other contracts like the Quasi-contracts; Contracts of Indemnity and Guarantee and the contract of agency.

•  The next part of this subject deals with the very interesting aspect related to the sale of goods and the types of agreements related to the same. The Conditions and Warranties, Transfer of Ownership, Performance of contracts for sale, remedial measures in cases of breach of contracts for sale form part of this section.

• We then cover the Partnership Act wherein the nature of partnerships is discussed and the procedure for formation of partnerships is explained. The relations of partners to one another as well as to third parties is discussed including the rights & duties and authority of partners. Also covered is the reconstitution of a firm as well as the dissolution of the same due to internal or external factors.

• The final section in this subject relates to the Negotiable Instruments Act wherein we look at the meaning and characteristics of negotiable instruments as well as the various types of negotiable instruments; the parties involved in the process and their privileges. The actual negotiation of the instrument and the execution of the instrument by way of presentation of a negotiable instrument. Also discussed in the issue of dishonour of a negotiable instrument. A brief introduction of International law on the question of provisions on negotiable instruments is also made to give a complete picture to the students.

Supplied Text to the students: Business Law by P.R.Chadha