, FOUNDATION : PAPER - 1
FUNDAMENTALS
OF ECONOMICS
AND
MANAGEMENT FOUNDATION
STUDY NOTES
The Institute of Cost Accountants of India
CMA Bhawan, 12, Sudder Street, Kolkata - 700 016
,First Edition : January 2013
Second Edition : September 2014
Published by :
Directorate of Studies
The Institute of Cost Accountants of India (ICAI)
CMA Bhawan, 12, Sudder Street, Kolkata - 700 016
www.icmai.in
Printed at :
Repro India Limited
Plot No. 50/02, T.T.C. MIDC Industrial Area,
Mahape, Navi Mumbai 400 709, India.
Website : www.reproindialtd.com
Copyright of these Study Notes is reserved by the Insitute of Cost
Accountants of India and prior permission from the Institute is necessary
for reproduction of the whole or any part thereof.
, Syllabus
PAPER1: FUNDAMENTALS OF ECONOMICS AND MANAGEMENT (FEM)
Syllabus Structure
A Fundamentals of Economics 50%
B Fundamentals of Management 50%
B A
50% 50%
ASSESSMENT STRATEGY
There will be written examination paper of three hours
OBJECTIVES
To gain basic knowledge in Economics and understand the concept of management at the macro and micro level
Learning Aims
The syllabus aims to test the student’s ability to:
Understand the basic concepts of economics at the macro and micro level
Conceptualize the basic principles of management
Skill sets required
Level A: Requiring the skill levels of knowledge and comprehension
CONTENTS Weightage
Section A : Fundamentals of Economics 50%
1. Basic concepts of Economics
2. Forms of Market
3. National Income
4. Money
5. Banking
6. (a) Indian Economy – an Overview
(b) Infrastructure of the Indian Economy
Section B: Fundamentals of Management 50%
7. (a) Management Process
(b) Evolution of Management thought
8. (a) Concept of Power
(b) Leadership & Motivation
9. (a) Group Dynamics
(b) Management of Organizational Conflicts
10. Decision-making – types and process
SECTION A: FUNDAMENTALS OF ECONOMICS [50 MARKS]
1. Basic Concepts of Economics
(a) The Fundamentals of Economics & Economic Organizations
(b) Utility, Wealth, Production, Capital
(c) Central Problems of an Economy
(d) Production Possibility Curve ( or Transformation Curve)
(e) Theory of Demand ( meaning, determinants of demand, law of demand, elasticity of demand- price, income
and cross elasticity) and Supply ( meaning , determinants, law of supply and elasticity of supply)
FUNDAMENTALS
OF ECONOMICS
AND
MANAGEMENT FOUNDATION
STUDY NOTES
The Institute of Cost Accountants of India
CMA Bhawan, 12, Sudder Street, Kolkata - 700 016
,First Edition : January 2013
Second Edition : September 2014
Published by :
Directorate of Studies
The Institute of Cost Accountants of India (ICAI)
CMA Bhawan, 12, Sudder Street, Kolkata - 700 016
www.icmai.in
Printed at :
Repro India Limited
Plot No. 50/02, T.T.C. MIDC Industrial Area,
Mahape, Navi Mumbai 400 709, India.
Website : www.reproindialtd.com
Copyright of these Study Notes is reserved by the Insitute of Cost
Accountants of India and prior permission from the Institute is necessary
for reproduction of the whole or any part thereof.
, Syllabus
PAPER1: FUNDAMENTALS OF ECONOMICS AND MANAGEMENT (FEM)
Syllabus Structure
A Fundamentals of Economics 50%
B Fundamentals of Management 50%
B A
50% 50%
ASSESSMENT STRATEGY
There will be written examination paper of three hours
OBJECTIVES
To gain basic knowledge in Economics and understand the concept of management at the macro and micro level
Learning Aims
The syllabus aims to test the student’s ability to:
Understand the basic concepts of economics at the macro and micro level
Conceptualize the basic principles of management
Skill sets required
Level A: Requiring the skill levels of knowledge and comprehension
CONTENTS Weightage
Section A : Fundamentals of Economics 50%
1. Basic concepts of Economics
2. Forms of Market
3. National Income
4. Money
5. Banking
6. (a) Indian Economy – an Overview
(b) Infrastructure of the Indian Economy
Section B: Fundamentals of Management 50%
7. (a) Management Process
(b) Evolution of Management thought
8. (a) Concept of Power
(b) Leadership & Motivation
9. (a) Group Dynamics
(b) Management of Organizational Conflicts
10. Decision-making – types and process
SECTION A: FUNDAMENTALS OF ECONOMICS [50 MARKS]
1. Basic Concepts of Economics
(a) The Fundamentals of Economics & Economic Organizations
(b) Utility, Wealth, Production, Capital
(c) Central Problems of an Economy
(d) Production Possibility Curve ( or Transformation Curve)
(e) Theory of Demand ( meaning, determinants of demand, law of demand, elasticity of demand- price, income
and cross elasticity) and Supply ( meaning , determinants, law of supply and elasticity of supply)
