Day 5 - Executive PGDM at NMIMS, Hyderabad

It's raining here and I just finished dinner. Time to share my Day 5 experience of the PGDM at NMIMS, Hyderabad. We've had 5 days of classes today and about a month I'd say. One of the major issue that we are facing now is that we still haven't got the Blackboard access. That's their student portal, and all the course materials are uploaded here. Faculties have been uploaded stuff there and we still haven't got access. Let's see when that happens.

Anyways, the first class today was Business Environment. Last time around we had been introduced to the concept of GDP,GDP Deflator, Consumer Price Index etc. Today going a step ahead, we dived into more complex economic terms. Started with Closed and Open Economies. We learnt about Real and Nominal Interest Rates, Fisher Effect (How Inflation affects Interest Rates) Another concepts we were introduced to were the formula of MV=PY, where M=Quantity of Money, P = Price of a unit, Y = Total Produce, V = no. of notes in circulation. 

Fisher Effect - perfectly summed up !

So for eg: Let's say there's an economy that produces only ice creams. It produces 100 ice creams at the cost of 10 Rs per ice cream. Also there are 50 Rs notes. So how do you calculate the Velocity of notes in circulation ? 

According to the formula, we arrive at V= PY/M that gives us V = (100*10)/50 => V=20. So the 50Rs note circulates for 20 times in that economy. Makes sense ? Let me know in the comments below.

Apart from this, we also learnt about Government and Private Savings and how Savings = Investment and other concepts revolving around it. In short a good doze of economics. Need to focus on the books now to get the formula right (Y=C+I+NX+G)  

Next was Financial Accounting (ghost returns) We were supposed to submit an assignment for a case study shared last week. We did find a solution online and shared it, but things didn't turn out as expected IMO. Anyways, I did solve it and got a good understanding of T-Accounts, P&L and Balance Sheet. Thanks to D for helping me out ! Today's class was super-fast IMO. Folks who had the commerce background were going all guns blazing while I felt like seeing an encrypted message in front of without the keys to decrypt it :( [A CS grad can understand the agony] I don't remember much as I was lost, but the terms I remember as of now are Cash Accounting, Accrual Accounting, Adjustments. Got a numerical to solve, that I barely managed to do. So this is getting scary, at least for me. Kya main paas ho paaonga ? Jaan ne ke liye dekhte rahiye yeh blog ;)

Post lunch (Mutter Paneer, Aloo Gobhi <3) we had Microeconomics lectures. Again we had a lot of philosophical talks in the first half. We then had a birthday celebration and got back to economics. We learnt about Elasticity of Economics - Graphs related to the same.

Basically, if the graph is parallel to the Y-axis, then the resource is inelastic. And if the line is parallel / close to the X-axis then the resource is said to be elastic. One simple example would be for people in Telangana, Rice is an inelastic resource. It means that no matter what the price of the resource is, they will not be any change in the quantity purchased. (Correct if I'm wrong, because I don't sit with my class notes while writing posts !) Here's a resource that you find useful  for understanding Elasticity of Economics.

We did an example where we saw how introduction of technology improved the productivity of a farmer. But that led to lower prices and thus loses to the farmer. This meant, that government should be providing subsidy to the farmers. It's nice to learn about how such small things make a stratospheric impact on the economy. 

So that was it about Day 5 - Executive PGDM at NMIMS, Hyderabad. We finally got all our books today. Oh and yes, the star of the week, well it was a tough one, but I guess we unanimously decided to give the crown to S (we have a lot of Ss in the class, leave it upon us to decide who it was) I've been spending some time studying everyday, just to get into the stride. But after the FA lecture today, I'm scared. I guess I'll be dialing out to my CA friends to bail me out ! 

Until next time, do whatever you love.

Cya !