College to Corporate Programme - Financial Literacy
Joint initiative of Corporate and IITBombayX
January 23rd - February 18th, 2018
IIT Bombay launched a campus to corporate initiative in association with Corporates. The focus of this initiative is to prepare engineering students to transition from the informal campus environment to a formal corporate environment. Under this initiative, the courses are being conducted in a blended MOOC format. The program on 1. Soft Skills 2. Workplace Communication was conducted in the year 2017 and 3. Technical Skills 4. Financial Literacy were scheduled for the year 2018.
The MOOC course on Financial Literacy was conducted during Jan - Feb 2018. The face to face component of this program was conducted on Jan 27, Feb 3, 10 and 17, 2018. These programs were organized at Dronacharya Group of Institutions, Greater Noida through ICT. B.Tech and MBA students enrolled in the course.
Day 1, January 27th 2018 (https://www.youtube.com/watch?v=WMR-XVrmvUI )
The first Face to Face component was conducted on Jan 27, 2018. The program started with a session on ‘Understanding Microeconomics’ by Mr. S V D Nageswar Rao - Professor of Finance and Economics at School of Management – IITB. He stated that it is very important to understand Micro and Macro Economics as it helps in better financial decision making. He stated the gaps in economic and business environment must be identified in order to identify new business opportunities. Not only that, the impact of Fiscal and Monetary policy must be ascertained too. If these policies are followed upon, the companies will be in better position to take preventive actions for the catastrophe like GST and Demonetization. He stated that Microeconomics deals with the choice of customers and their buying behavior and their focus on changing preferences.
He then explained the US and UK model of competition in Industry. According to US model, it’s not good to have large firms in the Industry and UK model says just the opposite. The coordination depends on the number of players in the industry.
Day 2, February 3rd 2018 (https://www.youtube.com/watch?v=aTzHsThas_Q )
The session on Feb 3 was conducted by Rupali Chimote, Vice President, Training & Development, JPMorgan Chase & Co. She explained the concept of financial system. She later explained the concept of Financial Market Participants.
Day 3, February 10th 2018 (https://www.youtube.com/watch?v=NkkrI9D8vbA )
The third session was scheduled on Feb 10, 2018 and was conducted by Mr. Pranay Dugar, Associate, Training & Development, JPMorgan Chase & Co. This was on Financial Planning and Budgeting. He stated that one can do financial planning and budgeting through ones’ Smartphone's itself. He stated that each and every phase of life requires lot of planning and amongst all these financial planning is extremely important because this helps an individual as well as corporates to achieve financial goals.
He then explained the concept of Budgeting. He said that Budgeting is very important as it helps the individual and firms to cope up with the unexpected financial obligations.
Day 4, February 17th 2018 (https://www.youtube.com/watch?v=Fnz5IFI8xDM )
The last session was scheduled on Feb 17, 2018 and was conducted by Dr. C.A. Varadraj Bapat. He discussed about Financial Accounting, Financial Statements and Cost Accounting. He said that the financial data which is generated by accountants is useful to all the stakeholders. It helps in better planning, organising and control of business.