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004. Business Economics And International Business – 100
Course Objectives
This course is designed to fulfill the following objectives. These are to:
a. understand practical application of economics reasoning for solving decision and forecasting problems in business, industry and government.
b. have an understanding of how our national economy functions.
c. acquire correct knowledge of government fiscal, monetary and trade policies with their effects on business environment.
d. To provide the students with an in-depth knowledge of the nature, financial environment, sources of mechanism and instruments of international business along with new international economic order, international financial markets, agencies, monetary system and other related determinants so as to enabling them to play an effective role in the international horizon of the business.

A. Business Economics – 50

004.01 Supply and Demand Theory
1.01 Basic concept of Economics
1.02 Definition of Managerial Economics
1.03 Role of Managerial Economics on Business

 

004.02 Theory of Demand and Supply

2.01 Demand schedule, demand Curve, Demand Function
2.02 Shift in demand, Income effect and Substitution Effect.
2.03 Elasticity of demand, Types and Measurement.
2.04 Managerial Implication of Elasticity of demeaned
2.05 Supply, Supply Schedule, Supply Curve, Elasticity of Supply.
2.06 Factors influencing supply of goods and services. Elasticity of supply.

 

004.03 Theory of Cost of Production

3.01 Theory of Cost.
Meaning and Measurement of cost, Cost Function, Long run and Short run Cost Function, Total, Average and Marginal Cost, Managerial Implication of Marginal Cost.
3.02 Theory of Production
Definition of production, Production Functions, Production Elasticity, Law of Diminishing Return, Stage of Production, Production Function with one and more Variable Inputs, Determination of Optimum use of Input Variables, Managerial Implication of Production Function, Scale of Production, Measurement of Returns to Scale.
3.03 Price and Output Determination
Price and Output Determination under Monopoly, Oligopoly, Monopolistic Competition and Perfect Competition-Short run, Long run.

 

004.04 Money, Banking and Public Finance

4.01 Nature and Function of Money
4.02 Theory of money, Inflation, Deflation, causes and control of inflation, Money creation, Demand for money, Monetary Policy.
4.03 Monetary Policy and Fiscal Policy.
4.04 National Budget, Public Debt, Deficit Financing. 
4.05 Taxation and source of govt. revenue including VAT.

 

004.05 Micro Economic Analysis and Development Economics

5.01 Introduction of Micro Economics
5.02 Definition of National Income, Concept of National Income.
5.03 Gross National Product, Net National Product
5.04 Theory of Employment, Consumption and investment
5.05 Development Economics and third world nations.
5.06 Poverty and Income distribution
5.07 PRSI and MDG
5.08 Trade Theory and balance of payment.
5.09 Types of tariff Protection and infant industry argument.
5.10 WTO, SAFTA  EU.

B. International Business ¾ 50

004.01 International business: concepts and organization
International Business: Definition, Field, Reasons and Necessity. Why is International Business different? International Business Model, The internationalization process, Alternative forms of International Business: export-import, Franchise, Joint Venture, Wholly owned subsidiary, Foreign Branches, MNCs, The role of the multinational corporation (MNC), The interface between government and industry.

004.02 Economic Theories of  International Business
The advantage of knowing economic theory, International trade theory: Theory of Absolute Advantage, Theory of Comparative Advantage, Factor-proportion Theory, Modern Firm-based Trade Theories, Product life cycle, Trade restrictions, International Business and Economic development, International investment theories, Factors influencing Foreign Direct Investment.

004.03 International business strategy
Developing competitive strategies and strategic options, Technology collaboration and transfer, Competing internationally.

004.04 Export and Import Practices
Export Strategy, Export intermediaries, Locating foreign markets, Freight forwards and their functions, Export Financing, Other government incentives, Documentation: Invoice, packing list, bill of exchange, bill of lading types of B/L, certificate of origin, certificate of Analysis. Pre-shipment Inspection (PSI), Shipments. Import strategy, Delivery and negotiation, retirement of documents from bank, clearing agent and their functions in customs clearance. Technology transfer, Technical assistance.

004.05 International Accounting and Taxation
National Differences in Accounting-Roots of Differences, Differences in Accounting Practices, Impact on Capital Markets and Corporate Financial Controls; Efforts at Harmonization; Accounting for Transactions in Foreign Currencies, Foreign Currency Translation. International Taxation Issues-Taxation of Foreign income by Bangladesh-Taxation of Exports, Taxation of Foreign Branch Income, Taxation of Foreign Subsidiary Income; Resolving International Tax Conflicts.

004.6  Export and Import of goods in Bangladesh
CCI&E, EPB, BOI and their roles in export and import. Formalities of export and import: IRC, ERC, trade license, Banking, Insurance, import-export Policy, Fiscal Incentives, VAT, Custom Duties, Taxation, guidelines for Foreign Exchange transactions, export/import financing, barriers in export-import.

Reference Books
1. Managerial Economics - Mc Guigan Moyer (9th edition).
2. Modern Economic Theory – K.K. Dewett. (21st edition)
3. Economics – Paul A. Samnelsow and W. Nordhans (17th edition).
4. Financial Administration in Bangladesh. – S. U. Patwary.
5. National Income and Social Accounting – Eddy and Gayal.
6. International Business – A Managerial Perspective – R.W. Griffin & M. W. Pustay (2nd edition).
7. International Business - Don Ball and Wendell McCulloch (Irwin McGraw-Hill Book Corp., Boston, USA, 1999) (9th edition).
8. International Business - Edgar P. Hibbert      (McMillan Press Ltd., London, U.K., 1997).
9.  International Business, Environment and operation- John D. Daniels & Lee H. Redebaugh (10th edition).
10. Import/Export Policy of the Government of Bangladesh.
11. Industrial Policy in force of the Government of Bangladesh.
12  Customs Act-1969 as amended in force of the Government of Bangladesh.

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