Program Overview

Award in Business Economics

Overview

This course exposes learners to the core principles of economics and how they can be applied within a business context. This course shall therefore allow learners to analyse economics from a managerial perspective and comprehend how economic behaviour influences decision making within organisations.

Awarding Body & Accreditation

This qualification is awarded by eie Institute of Education and is accredited by the Malta Further and Higher Education Authority (MFHEA). MFHEA deems this Award to be at MQF Level 5 (12 ECTS) of the Malta Qualifications Framework and the European Qualifications Framework for lifelong learning.

Learning Outcomes

Competences

At the end of the course the learner will have acquired the responsibility and autonomy to:

• Carry out basic predictions related to market structures
• Produce demand and supply curves
• Monitor changes in the economy which impact directly or indirectly the organisation
• Carry out effective market analysis
• Ensure the implementation of effective economic way of thinking at the workplace
• Deal with issues related to economic activity and adapt according to such changes

Knowledge

At the end of the course the learner will have been exposed to the following:

• Critically define the role of economics and discuss how it affects and shapes organisational decisions
• Reflect on the influence and role that the government and the state plays in economics
• Reflect on the importance of economics for managers
• Describe and critically analyse demand and supply in business economics
• Have knowledge of the customer demand and provide practical examples
• Critically identify and discuss the links between the customer’s willingness to buy vis-a-vis demand
• Critically discuss the economies of scale, as well as the different types of costs including variable costs and fixed costs
• Identify and exemplify different types of markets found within the economy
• Critically compare and contrast between monopolistic and oligopolistic markets
• Analyse and exemplify price discrimination
• Have knowledge of the importance of Gross Domestic Product and how it influences business decisions
• Critically analyse and discuss deficits in budgets
• Critically analyse and discuss taxation
• Critically analyse and discuss price inflations

Skills

At the end of the course the learner will have acquired the following skills:

• Prepare effective supply and demand curves according to the requirements
• Use various tools used by managers to understand and comprehend customer preferences and demands such as conjoined analysis
• Apply basic cost and costs structures to effectively comprehend market structures
• Demonstrate the links between cost, profits, and revenues in organisations
• Examine the impacts of price changes in the market

Teaching Methodology

This course shall be taught with a student-centred approach whereby learners are encouraged to take active participation in their own learning. Learners shall be presented with PowerPoint presentations, case-study examples, and other interactive learning materials. Students will be asked to discuss and exchange communication amongst each other (classroom or online, as per learning mode chosen).

Assessment

This course shall be assessed with a 3-hour time-constrained examination (75%). Learners are also expected to undergo a classroom assessment including discussions, multiple-choice assessments and/or observation (25%). Learners are expected to obtain a minimum of 50% of the total mark to successfully pass from this course.

Fees

• Total lecture hours: 60
• Fees: €1,500.00
• EU & Non-EU Nationals: €1,500 Euro (Whole course will cost you €450 Euro after Tax Credit - Save €1,050 Euro) Get Qualified Scheme