Industrial Economics

Description

This book provides an understanding of the various problems and situations faced by the present and prospective entrepreneurs in setting-up/expanding their industrial units. It underscores the significance of industrialization and how modern economies are ensuring it. It explains and examines various issues involved in the process of industrialization in a lucid, cogent, and analytical manner. It would connect teachers and students of the subject to the basic concepts, components, and processes of industrial economics. The book contains 25 chapters which have been organized into 2 parts. Part I (chapters 1 to 18) is titled Basics of Industrial Economics. Part II (chapters 19 to 25) is titled Industrialization in India. Dr. N. Mani is presently Head of the Postgraduate and Research Department of Economics, Erode Arts and Science College, Erode, Tamil Nadu. He holds M.A., M.Phil. and Ph.D. degrees from Bharathiar University, Coimbatore. Specializing in development economics, he has 30 years of teaching experience to postgraduate and undergraduate classes. He successfully completed 2 major research projects sponsored by the University Grants Commission (UGC), New Delhi. He is currently engaged in a research project sponsored by Indian Council of Social Science Research (ICSSR), New Delhi. With a more cohesive writing style, reduced size, and additional invaluable information, the book would be a key text in industrial economics. Part I: Basics of Industrial Economics 1. Industrial Economics: An Introduction 1.1 Meaning and Scope of Industrial Economics 1.2 Industrial Revolution 1.3 Issues in Industrialization 1.4 Classification of Industries 1.5 Industrial Clusters 1.6 Globalization and Industrial Development 1.7 Input-Output Analysis 2. Forms of Business Organizations and Start-ups 2.1 Sole Proprietorship 2.2 Partnership 2.3 Joint Stock Company 2.4 Co-operative 2.5 Choice of Business Organization 2.6 Start-ups 3. Location of Industry: Determinants and Theories 3.1 Land and its Attributes 3.2 Accessibility of Capital 3.3 Availability of Raw Materials 3.4 Transportation 3.5 Access to Market 3.6 Sources of Power and Water 3.7 Skilled Workforce and Managerial Skills 3.8 Agglomeration 3.9 Backward and Forward Linkages 3.10 Public Policy 3.11 Personal Considerations 3.12 Theories of Industrial Location 3.13 William Launhardt’s Location Triangle Model 3.14 Alfred Weber’s Theory of Industrial Location 3.15 Sargent Florence’s Theory of Industrial Location 4. Market Structure (or Types of Market) 4.1 Perfect Competition 4.2 Monopoly 4.3 Monopolistic Competition 4.4 Oligopoly 4.5 Duopoly 4.6 Monopsony 4.7 Bilateral Monopoly 5. Production Function, Cost Function and Revenue Function of a Firm 5.1 Objective Function of a Firm 5.2 Production Function 5.3 Cost Function 5.4 Revenue Function 5.5 Macroeconomics and Microeconomics 5.6 Economic Models 5.7 Economic Laws and Their Assumptions 6. Profit Maximization by a Firm: The Marginal Rule 6.1 Profit Maximization Objective of a Firm 6.2 Equilibrium (Profit Maximization) of a Firm under Perfect Competition 6.3 The Marginal Rule 6.4 Short-run and Long-run 7. Industrial Productivity and Efficiency 7.1 Factors of Production and Their Rewards 7.2 What is Industrial Productivity? 7.3 Partial Productivity and Multi-factor Productivity 7.4 Individual and Team Productivity 7.5 Business Productivity 7.6 National Productivity 7.7 Benefits of Productivity Growth 7.8 Determinants of Productivity 7.9 Factors Harming Productivity 8. Trademarks, Patents, Industrial Designs and Geographical Indications 8.1 Intellectual Property Rights (IPRs) 8.2 Trademarks 8.3 Patents 8.4 Industrial Designs 8.5 Geographical Indications 8.6 Intellectual Property Rights (IPRs) in India 9. Mergers and Acquisitions (M&A) 9.1 Meaning of M&A 9.2 Brief History of M&A 9.3 Categorization of M&A 9.4 Documentation of a M&A Transaction 9.5 Business Valuation and Financing 9.6 Motives for M&A 10. Industrial Imbalances and the Need for Balanced Regional Development 10.1 Causes of Industrial Imbalances 10.2 Need for Balanced Regional Development 11. Infrastructure and Logistics for Industry 11.1 Infrastructure: Meaning, Importance and Financing 11.2 Logistics: Meaning, Importance and Improvement Strategies 12. Special Economic Zones (SEZs) and Technology Parks 12.1 Meaning of SEZs 12.2 Types of SEZs 12.3 Configuration of a SEZ 12.4 Advantages of SEZs 12.5 Pre-conditions for the Success of SEZs 12.6 Role of the Government 12.7 Role of the Private Sector 12.8 SEZs and Small Enterprises 12.9 Global Experiences 12.10 Technology Parks 13. Entrepreneurship and Innovations 13.1 Entrepreneur and Entrepreneurship 13.2 Meaning and Importance of Innovations 14. Domestic Industry and Foreign Direct Investment (FDI) 14.1 Meaning of FDI 14.2 Superiority of FDI over Other Forms of Capital Inflows 14.3 Resource-seeking, Market-seeking and Efficiency-seeking FDI 14.4 Macroeconomic and Microeconomic Aspects of FDI 14.5 Crowding-in and Crowding-out Impacts of FDI 14.6 Advantages of FDI for the Host Country 14.7 Disadvantages of FDI for the Host Country 14.8 Determinants of FDI 14.9 World Bank Determinants of FDI 14.10 FDI and Corporate Strategies 15. Industry and Internet 15.1 Co-ordination of Productive Activities 15.2 Consumer Centricity of Business 15.3 Marketing and Adver