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Economic Ideas and Models for Business

Name: Economic Ideas and Models for Business
Price: 1461 SGD
Rating: 4 (2 reviews)

Training Provider: Singapore University of Social Sciences

Course Reference: TGS-2024047214

S$1,461

About This Course

Explain the fundamental framework of economic analysis and workings of market equilibrium
Appraise market efficiencies and production decisions with cost constraints
Examine various market regimes and behavior of market participants
Apply game theoretic considerations into developing business strategies
Analyse how deviations from standard economic methods affect behavior of market participants
Measure a nation’s income and inflation and interpret economic growth
Discuss contemporary topics
Employ fundamental economic methods to determine business behavior
Demonstrate how a nation’s economy influences an individual business

What You'll Learn

ECO202 Economic Ideas and Models for Business provides students with fundamental knowledge from economic methods that are applied to business. It is the science of decision making for allocating scarce resources in the management of a business or other organisation. The first part of the course covers the principles of microeconomics focusing on consumers’ and producers’ decision making for welfare and profit maximisation, respectively while the second part covers a few key principles of macroeconomics. The course covers the framework of demand and supply, market and efficiency, cost and production decision in an economy, game theories applied to business, information and externality, and a nation’s income, inflation and economic growth in the long run.