Economic approaches to Business performance and Strategy; Internal economics of firms; Basic economic concepts; Costs, productivity and profitability in the short run; Firms and Consumers in the market place. Demand; Price elasticity for the firm and the market; Application of elasticity concepts to business decisions; Income elasticity; Equilibrium in markets; Equilibrium and disequilibrium; The impact on the firm's costs, revenues and profits; Structure under which business operates; Exposure and the Macro economy : Trends in national and international economic environments; The circular flow of income and aggregate demand of consumers and firm; Overseas trade ,aggregate demand and capital flows; Exchange rates determination and implication for business decision
