Few Take Aways...So Far!!
Well, it's important to interpret what you are learning in the class room to the real world, and here is my attempt to do so for the term1 Subjects:
Managerial Economics: If you are billing $30 per person on average on a software project, and if you increase the number of billable associates will it always increase your profits or even the revenue? If I had not taken this course, I would probably say it is 'plain common sense' to expect so!! But, the answer is a resounding NO. Marginal analysis, any economist's favorite parlance, comes into play along with the ubiquitous demand-supply principle!! One shouldn't just think in terms of average, they've to consider marginal revenue and account for the fact that prices varies with demand.
Business Statistics: I always used to wonder in my engineering classes, where in the world will I be using those damn Statistics and probablilty theorems. I guess I found an answer here, and since then statistics has become one of my favorite subjects. The application of statistics are wide-spread and can provide insights to such questions as:
Should I launch this new product of 'Early Pregnancy Detection? :)
How are stock prices doing, and should I invest in a particular stock?
What's the best portfolio i can put my money on?
Is my process of manufacturing supersonic engines in supersonic jets capable and in control?
If I had known this subject earlier in such depth, I probably would have invested more in stocks..!! Better late than never!
If there is only one thing that is making these courses so interesting and insightful, it got to be the quality of the faculty teaching these courses. That's the difference when experts in their fields teach basics..!!
Take aways on the other two courses (Marketing & Financial Accounting) in my next writing...
tata..Satish.
P.S: I've removed my previous posting on ISB rankings, because it is just a bench mark on certain criteria, while comparing with other top B-schools. The school hasn't participated in any rankings as such as yet.
Managerial Economics: If you are billing $30 per person on average on a software project, and if you increase the number of billable associates will it always increase your profits or even the revenue? If I had not taken this course, I would probably say it is 'plain common sense' to expect so!! But, the answer is a resounding NO. Marginal analysis, any economist's favorite parlance, comes into play along with the ubiquitous demand-supply principle!! One shouldn't just think in terms of average, they've to consider marginal revenue and account for the fact that prices varies with demand.
Business Statistics: I always used to wonder in my engineering classes, where in the world will I be using those damn Statistics and probablilty theorems. I guess I found an answer here, and since then statistics has become one of my favorite subjects. The application of statistics are wide-spread and can provide insights to such questions as:
Should I launch this new product of 'Early Pregnancy Detection? :)
How are stock prices doing, and should I invest in a particular stock?
What's the best portfolio i can put my money on?
Is my process of manufacturing supersonic engines in supersonic jets capable and in control?
If I had known this subject earlier in such depth, I probably would have invested more in stocks..!! Better late than never!
If there is only one thing that is making these courses so interesting and insightful, it got to be the quality of the faculty teaching these courses. That's the difference when experts in their fields teach basics..!!
Take aways on the other two courses (Marketing & Financial Accounting) in my next writing...
tata..Satish.
P.S: I've removed my previous posting on ISB rankings, because it is just a bench mark on certain criteria, while comparing with other top B-schools. The school hasn't participated in any rankings as such as yet.
posted by Satish Udayagiri @ 7:02 AM
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