This module aims to provide students with the analytical tools required to understand the micro and macro-economic environment within which businesses operate and how this has direct relevance to the decision-making processes of managers. Topics include: Demand Analysis, Elasticity Concepts and Demand Forecasting; Suppliers and Cost analysis. Market Structures, Pricing Practices and Firms’ Strategies. Competition Policy. Market failure and government intervention; the circular economy. National Income. Macroeconomic policy impact on firms’ strategies: fiscal, monetary and income policies. Determination of interest rates and foreign exchange rates: impact on firms’ strategies. Unemployment and Inflation. Understanding the International macroeconomic environment and their implications on business decisions.
