Description

Course Description – Business Economics

This course provides students with a comprehensive introduction to the economic principles underlying business decision-making and the operation of firms in competitive markets. It examines the fundamental concepts of business economics, including entrepreneurship, production and cost theory, pricing, profit maximisation, market structures, competition analysis, investment appraisal, risk management, and business performance evaluation.

The course develops students' ability to apply economic reasoning and analytical methods to business problems, supporting informed decision-making in various organisational contexts. Emphasis is placed on understanding the interrelationships between business functions, evaluating costs and benefits, and applying both qualitative and quantitative approaches to assess business performance and strategic choices.

Upon successful completion of the course, students will be able to analyse business situations, evaluate economic alternatives, and apply core business economics concepts to improve organisational efficiency and support sustainable business decision-making.

Learning Outcomes

Development of knowledge and understanding: Students: 1. Understand basic concepts of considering basic economic categories, concepts, principles, and rules, related to the functioning of the company. 2. Learn to apply)depreciation methods, costing and pricing methods, judgments of business performance and investments appraisal in solving business problems. 3. Can demonstrate awareness of ethical issues in the field of decision-making in the key business fields. 4. Are able to discuss ethical issues in relation to personal beliefs and values.