M/503/5118 Explain the importance of the micro-economic environment to business organisations.

Economics for Business

Aims

To provide an economic context for business and business behaviour and develop the knowledge and understanding needed to analyse the macro and micro economic environments.

Learning Outcomes

1. Understand the micro-economic business environment

1.1 Explain the importance of the micro-economic environment to business organisations

1.2 Analyse business objectives and business behaviour in the economic context

1.3 Analyse the impact of market structures on business organisations

2. Understand the macro-economic environment in the domestic context

2.1 Explain determinants of national income

2.2 Explain the impact of government policies on the economy

2.3 Analyse the impact of the macro-economic environment on business organisations

3. Understand the implications of operating in the international economic environment on business organisations.

3.1 Analyse features of the international economic environment.

3.2 Analyse the economic implications for business of operating in a global business environment.