Masters of Business Administration / Masters in Economics @ Delhi University
Besides teaching , i am a learner of classical dance, i like reading novels and biographies, also i love gardening and listening music.
Absolute Advantage, AD-AS Model, Aggregate Demand and Aggregate Supply, Aggregate Expenditure Model, Anti-Trust Laws, Balance of Payment, Comparative Advantage, Consumer Surplus, Cross Price Elasticity, Demand and Supply
Hello, I am currently working as a guest faculty in Delhi University, i have been teaching here economics and general management subjects from past 2 years. Adding to this i have experience in online tutoring as well. My area of interest is economics and i am also working for enrollment in PhD in economics domain, specifically managerial economics. Besides this i have experience in teaching marketing, finance and other general management subjects.
Demand and supply are the major tools of economics. Demand refers to the quantity demanded by the consumers at the given price and during a period of time. Supply refers to the quantity that a seller or producer is willing to supply at the prevailing prices in the economy. The intersection of demand and supply give rise to equilibrium in the economy. There are several price and non price factors that do affect the demand and supply of the commodity. For demand the various factors are price of good, income of consumer, taste and preferences, price of substitute and complementary good etc. For supply the factors are price of good, technology, taxes and subsidies imposed on good, cost of production etc.
Demand curve is a downward sloping curve whereas supply is an upward sloping curve. The intersection of the two curves give rise to equilibrium which gives us the equilibrium price and equilibrium quantity. This equilibrium will change if any of the curve, i.e demand or supply changes. Demand can either increase or decrease which will make the demand curve either shift right or left. Similarly supply can also increase or decrease. So depending upon the extent of the change, there will be change in equilibrium.
monopoly is a market structure where there is a single seller selling the good and he is himself the price maker.The monopolist has control on either the price of the good or units sold. The demand curve of the monopolist is downward sloping that means in order to sell more units, the monopolist needs to reduce the price of the good and vice versa. Monopolist has a power of price discrimination. He can discriminate prices based on number of consumers, type of good, location etc. Price discrimination is the power of charging different prices for different sets of consumers. The marginal revenue curve of the monopolist is half of the demand curve.
Leadership means being in charge and taking control to guide the people in the organisation. A leader helps the people to accept changes and work in a way which is better and efficient for the organisation. There are three types of leader- autocratic leader, democratic leader and laissez-faire. In autocratic style the leader is dominant and strict and he does one sided communication. In democratic style , the leader does two way communication and he give and take suggestions from employees. People here feel motivated and empowered. In the third style of laissez-faire, the leader only interferes as and when required. He allows people under him to solve their problems themselves.
Marketing mix talks about the 4 p's of marketing that is product , price, place , promotion. For any organisation understanding the marketing mix is very crucial. The product describes the physical attributes of the product including its packaging, labeling and branding. This all is important to make your product hit in the market. Price is also an important element. There are various strategies used by the marketer for setting the price of the product like cost plus margin, rate of investment etc.Place describes the physical location where the product is made and where it is distributed among the final users.Promotion includes advertising, sales promotion, personal selling and public relations.
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