One down, Eight to go

Just check the EBS website for my MBA
results and found that I’ve passed my Accounts!
Yippeee!! Now it’s time to focus on Economics … now that’s a dry subject for you!
Here’s what I’m doing …


Very few managers have a grasp of economic principles and because of this it is often
wrongly concluded that economics is irrelevant to running a business. In fact, economic
factors affect businesses and decision making at three levels. At the macro level
factors such as the business cycle, interest rates and exchange rates directly affect
product demand and cost of production. At the market level the type of competition,
ranging from monopoly to perfect competition, determines profitability and business
strategy. At the company level efficiency principles, including marginal analysis,
opportunity cost and profit maximisation, have a direct bearing on business success.
So by ignoring economic principles you will be unable to figure out likely changes
in market conditions, you will be unable to understand competitive forces and you
will have little idea of how to allocate resources efficiently. >


Topics Covered

Topics covered: 1. Economic Concepts, Issues and Tools 2. An Overview of Economics
3. Demand 4. Supply 5. The Market 6. Economic Efficiency 7. Organisation of Industries
8. Public Goods and Externalities 9. Income Distribution 10. International Sector
11. Macroeconomics Overview 12. Potential Output 13. The Circular Flow of Income 14.
A Simple Model of Income Determination 15. Expanded Model of Income Determination
16. Fiscal Policy 17. Money, The Central Bank and Monetary Policy 18. The Quantity
Theory and the Keynesian Theory of Money 19. Integration of the Real and Monetary
Sectors of the Economy 20. Inflation and Unemployment 21. The World Economy


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