In the module, you will learn about macroeconomic theory and how it is applied to business. We will discuss the nature of business and how new firms are created. We will also discuss in detail risk assessment and management, as well as macroeconomic concepts such as aggregate demand, supply shocks, and growth trends so you can fully grasp the concepts behind supply and demand curves. The current environment for businesses both large and small will also be discussed with an emphasis on government policy and its effect on business operations.
● Demonstrate knowledge and understanding of macroeconomic theory and concepts.
● Assess the differing approaches to the nature of the firm.
● Understand and evaluate methods of risk assessment and risk management.
● Critically assess approaches to assess demand and cost estimation and the analysis of competitive structure.
● Demonstrate the ability to research and use relevant data and to apply economic analysis to examine the current business environment and the impact of government policy on business.