ECONOMICS: This is an introductory course which sets out to inform the student about the economic environment within which business businesses operate, as well as to give the student insight into some of the methods and instruments which businesses use to influence the economic environment. The student should learn to see Economics as an analytical technique, which leads to an understanding of production and consumption side of the market, and monetary authorities. Stress will be placed on introducing the student to the key conceptual tools used by economists, leading to such issues as price controls, monopoly and unemployment.
The course is divided into two units: Microeconomics and Macroeconomics. The former introduces students to key microeconomic issues, such as scarcity and choice, demand and supply, free markets and price controls, as well as the laws governing the different market structure. The latter focuses on teaching macroeconomic concepts such as measuring the economic activity and national income, the role of the government in the economy as a whole, as well as the nature of money and its supply and how this influences interest rates and inflation.
BUSINESS: This course will review and expand students’ understanding of key concepts in contemporary business and management issues. Using a case study method will enable students to solve real world business problems by integrating the use of key concepts and tools of analysis, from these core courses. In addition, it will provide them with an appreciation for how these business disciplines work together in a business environment.
The course is also designed to develop critical skills that students will need to succeed in their academic studies in the UK. These skills include, building and working in teams, making effective oral presentations, and thinking critically, strategically, and ethically in solving business problems.