Economics of the Business Environment
This module introduces you to the ways macroeconomic and market context is determined and how this changes over time. You will study the macroeconomy and the general business environment as well as firm level decision-making within the macroeconomic and market context.
You will also examine how the context impacts upon organisational decision-making, behaviour, and performance. During the module you will become familiar with major recent national and international economic and business trends.
Topics usually covered include:
- Current macroeconomic and microeconomics issues
- Business, strategy, and the macroeconomy
- Levels of economic activity
- Price levels and unemployment
- Overseas trade
- Macroeconomic policy
- Coping with the macro context
- Industries and markets
- Supply and demand curves
- Dynamic decisions
- Investment as an entry barrier
- Uncertainty and its impact
- Real options techniques.
By the end of this module you will have:
- Been introduced to a number of basic economic concepts
- Studied the use of these concepts in business
- Understood how economics can be used to approach business related questions
- Have an increased knowledge of the global economy and of key current events
- Understand why business must cope with uncertainty and risk.
There are opportunities to further explore this area in the Managerial Economics module.