Economics, Business Studies, Accountancy & Statistics

1. ECONOMICS:

Economics is one of the social sciences, which has great influence on every human being. economics is a complex social science that spans from mathematics to psychology. At its most basic, however, economics considers how a society provides for its needs. Its most basic need is survival; which requires food, clothing and shelter. Once those are covered, it can then look at more sophisticated commodities such as services, personal transport, entertainment, the list goes on. Today, this social science known as "Economics" tends to refer only to the type of economic thought which refer to as Neoclassical Economics. It developed in the 18th century based on the idea that Economics can be analysed mathematically and scientifically.. Economics is essentially a study of the usage of resources under specific constraints, all bound with an audacious hope that the subject under scrutiny is a rational entity which seeks to improve its overall well-being.

The key learnings during the 2 year study would include the following:

• Introduction to Indian Economics
• Use of Statistics in Economics
• Indian Economic Development
• Reforms & Current Challenges facing the Indian Economy
• Micro & Macro Economics
• Demand & Supply – with Consumer & Producer Behaviour
• Money & Banking Systems
• Government Budget & the Economy
• National Income, Balance of Payments etc.

2. BUSINESS STUDIES (COMMERCE):

Business studies provides students with a new, practical context for many of the subjects they studied at the elementary level, including mathematics, science and technology, language, and social studies. It helps students to recognize the relevance of these subjects as they are applied in the world of business – for example, in the study of individuals and diverse communities; in helping people with their needs, challenges, and problems; and in creating products and services that help to improve the quality of life. Business Studies helps you to make more informed decisions in the everyday business of living. It gives you a better understanding of the world of work. It encourages you to think about how and why people start up in business and why you too might also a consider starting business

The key learnings during the 2 year study would include the following:

• Nature, Purpose & Forms of Business Organizations
• Business Services
• Emerging modes of businesses
• Social Responsibility of Businesses & Business Ethics
• Internal Trade & International Business
• Nature & Significance of Management
• Principles of Management
• Planning, Organizing, Staffing, Directing & Controlling
• Financial & Marketing Management
• Consumer Protection.

3. ACCOUNTANCY:

Accounting education can be considered as experience, as practice in learning to learn, and as part of education for business.. The objective of accounting is to provide insight into the results of management decisions. The aim of accounting education is to help students learn to learn to become professional accountants.

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as business and corporations Accounting, which has been called the "language of business measures the results of an organization's economic activities and conveys this information to a variety of users, including , investors ,regulators management, and creditors .

The key learnings during the 2 year study would include the following:

• Theoretical framework & understanding the theory base of accounting
• Recording of Transactions – Journal, Ledger, Cash Book etc
• Preparation of Bank Reconciliation Statement
• Trial Balance & rectification of Errors.
• Depreciation Accounting
• Final Accounts – Balance Sheet
• Accounting for Partnership Firms & Companies
• Financial Statement Analysis
• Financial & Marketing Management
• Computerized Accounting.

4. Statistics:

The purpose of this course is to introduce you to the subject of statistics as a science of data. There is data abound in this information age; how to extract useful knowledge and gain a sound understanding in complex data sets has been more of a challenge. In this course, we will focus on the fundamentals of statistics, which may be broadly described as the techniques to collect, clarify, summarize, organize, analyze, and interpret numerical information.
This course will begin with a brief overview of the discipline of statistics and will then quickly focus on descriptive statistics, introducing graphical methods of describing data. You will learn about combinatorial probability and random distributions, the latter of which serves as the foundation for statistical inference. On the side of inference, we will focus on both estimation and hypothesis testing issues. We will also examine the techniques to study the relationship between two or more variables; this is known as regression.
By the end of this course, you should gain a sound understanding about what statistics represent, how to use statistics to organize and display data, and how to draw valid inferences based on data by using appropriate statistical tools.

The key learnings during the 2 year study would include the following:

• Introduction to statistics and some basic concepts
• Organization and collection of data
• Diagrammatic and graphical representation of data
• Analysis of univariate data
• Analysis of bivariate data
• Theory of probability
• Vital statistics
• Time series analysis
• Operation research
• Statistical inference