Application of Micro Economics concepts in our household
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for MMS students on the topic “Application of Micro Economics concepts in our household “on November 29, 2022. The lecture was delivered by Dr. Sudhakar Iyer who is a core faculty of the institution and has done his Ph.D. in Economics. The lecture started with asking few general questions on what the students remember about some basic concepts in economics that they studied in their lower standards. This was followed by an introduction to some micro-economics concepts like marginal utility, value and price of a good, factors affecting consumers demand etc. While deciding on various day to day issues or problems of consumption, spending etc., various concepts of micro-economics can be applied. Micro economic concept of ‘determining rent for land’ was discussed. Whenever a shop or a flat or an apartment is to be rented out various factors affecting rent have to be considered.
Many theories like modern theory of rent, economic rent theory etc. were discussed along with market factors influencing rent. When the demand for the apartment is more and the supply is less, the rent will be high and vice versa. At the same time, opportunity costs should also be taken into consideration while quoting rent. Understanding the concepts of micro-economics surely helps in taking a beneficial decision.
The students asked doubts regarding how consumer behaviour can be understood by diminishing marginal utility and consumer surplus theory. It was explained with real life examples on how we make our buying preferences based on the utility of the product and how we compare the marginal utility derived with price.
The session concluded with the students feeling satisfied that the micro-economics concepts are not just theoretical but can also be practically applied for solving day to day problems.
How to increase value of Real Money
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for MMS students on the topic “How to increase value of Real Money “on December 20, 2022. The lecture was delivered by Dr. Sudhakar Iyer. The lecture started with asking few general questions on utility, marginal utility and total utility and also money income and real income. The students were not clear about the distinction between money income and real income.
The students were taught in detail about the distinction of money income and real income and all the factors that influence real income.
The students were explained that the consumption/buying if stopped at the point where the total utility is maximum, the real income can be increased.
It was discussed how by timing our purchases properly, purchasing power can be improved and thereby the real income.
The students asked doubts related to career choice based on the level of money income and real income in a particular job. The interaction session was very good and the students felt convinced that planning expenditures properly can increase real income.
Gandhian Economic Thoughts in Modern Indian Economy
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for MMS students on the topic “Gandhian Economic Thoughts in Modern Indian Economy “on January 17, 2023. The lecture was delivered by Dr. Sudhakar Iyer. The lecture started with asking few general questions to the students regarding self-reliance and various Gandhian policies.
The students were explained about Gandhiji’s thoughts on how business is to be conducted. Gandhiji advocated that the business people should consider themselves as trustees of wealth and they should not resort to any unfair means to earn profit. Following this principle, the corporate should perform CSR activities so that the social objectives could be achieved. CSR activities are covered under S135 of the Indian Companies Act 2013 and it is mandatory for companies with net worth over 500 crores.
The students were explained the importance of CSR activities to the nation and how the Gandhian principles are reflected the social activities of the companies. It was discussed on how self reliance can be achieved and how it can lead to the development and prosperity of the nation.
During the interaction session the doubts of the students were cleared and they were happy to know about Gandhian Thoughts.
LECTURE ON “Crypto Currency in India”
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for 2nd year students on the topic "Crypto Currency in India" on January 05, 2023. The lecture was delivered by Mr. Rahul Shah. Details of Crypto currency as given in the lecture. It is a type of digital money designed to function as a normal form of payment that doesn`t rely on banks to validate transactions. Block chain technology was covered. Payment method and example of Bit coin was taken to clear the concept.
Instead of using a central bank to control the supply of money in an economy (like the Federal Reserve in tandem with the U. S. Department of the Treasury) or third parties to verify transactions (such as your local bank, credit card issuer, and the merchant's bank) Binance Coin is available on the Binance cryptocurrency exchange platform (along with other digital coins that are available for trading).
He also explained Digital currency based on the digital and it was designed for financial institutions to scale digital payments across the globe and reduce transaction costs The Block chain is essentially just a ledger that records who owns each bit coin unit and how many there are overall. When you tried to use duplicate digital money, you would quickly be discovered since they wouldn't be recorded in the Block chain.
Safety measure, the way of working, benefits and advantage and disadvantage kept the students active the entire lecture. The session was covered properly and ended with question and answer
Session on “Investment awareness program
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture MMS students on the topic "Investment awareness program" on January 22, 2023. The lecture was delivered by Asst, Prof. Amit Singh who is a core faculty of the institution. The main objectives of investment awareness program –
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Raising curiosity about investment
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Making students aware about benefits of early age investment
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Making students aware about the need of various sources of investment
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Developing understanding of risk & return composition of investment
Hr created awareness about Mutual Funds, and benefits of investing in mutual funds among students. He also covered the topic about protecting investors by educating them on their rights and responsibilities and five golden rules of investing. Empowered them with knowledge to evaluate different financial products and make informed decisions. Enable students to understand and manage risk. Reduce investor’s vulnerability to fraudulent schemes. The entire concept was covered and session ended with question and answer.
Session on “Personality Development of Students”
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for MMS students on the topic “How public speaking, Interview skills and Communication can change the overall development in person “on February 02, 2023. The lecture was delivered by Miss Huzaima Momin. The main objective of the session was to improving the communication skill and motivating students for public speaking.
The session started with explaining the students’ importance of communication skill and how it will be helpful in near future. Various activities were carried out that helped them to communicate freely and group discussion was conducted that helped them to express their ideas. The students were given one on one feedback for improvement. Students were very happy and demanded that more session should be held to increase the confidence. Many questions were asked and the answers were given with relevant examples. Session ended by giving them assignment.
Session on “Chartered Accountancy as a career option and Session on GST”
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for 2nd year students on the topic “Chartered Accountancy as a career option and Session on GST “on December 10, 2022. The lecture was delivered by CA Ujwal Dhokania who is a core faculty and academic head of the institution.
He is known well for his knowledge dissemination and representation of critical issues. The session commenced with a brief introduction about ICAI. He explained the procedure to get enroll for CA Course. In the session, he threw a light on Fee Structure, ICAI scholarships, ICAI publications, study material and career opportunities for CAs in the job market. The resource person highlighted some of the famous quotes and Prominent Chartered Accountants in the country. The speaker ended the first session by discussing “A Mantra “for becoming a CA and urged the students to work hard towards achieving the goal.
He also described the top 10 career opportunities in GST. Proper training and guidance should be taken from reputed institution. Practical knowledge is necessary and one should take responsibilities in corporate.
In the second half, Ujwal Sir briefed the participants about Goods and Service Tax. In the session, he spoke about Input Tax Credit, Reverse Charge Mechanism, Invoicing, GSTIN Format, GST Return Filing Process and Composition Scheme. Session ended with the question and answer session.
Session on “Seven OSI Layer”
Swayam Siddhi College of Management and Research had organized a teaching learning initiative lecture for 2nd year students on the topic " Seven OSI Layer " on January 12, 2023. The lecture was delivered by Asst, Prof. Pratiksha Mam who is a core faculty of the institution. She explained the prerequisite of programming language and networking experience to understand the OSI Model.
The main objective of the program was What the OSI model is? What is the purpose of each of the 7 layers? The problems that can happen at each of the 7 layers and the difference between TCP/IP model and the OSI model. Layer 1 is the physical layer. Layer 2 is the data link layer. Layer 3 is the network layer. This is where we send information between and across networks through the use of routers. Layer 4 is the transport layer.
It specifics of the connection between two nodes and how information is transmitted between them. Layer 5 is the session layer. This layer establishes, maintains, and terminates sessions. Layer 6 is the presentation layer. This layer is responsible for data formatting, such as character encoding and conversions, and data encryption. Layer 7 is the application layer. Each layer was explained in a very common way so that student understands the basic knowledge about it. All the layer was covered and question / answer session was conducted. Students like the session and showed keen interest to learn more about the topic.
