Business Economics

Course Aim
To provide a broad and basic understanding of economics and to develop the attitudes; mindset, and research skills necessary for decision making in business based on economic factors and indicators.
Of Interest To
Those interested in learning about the Canadian economy and gaining an understanding of economic factors and indicators that affect business decision making.
Method of Delivery
Integrated Learning™ System training facilitated by Academy of Learning Career College facilitators.

Course Introduction

The Business Economics course provides a broad introduction to economics, covering basic demand, supply, and price determination; consumer demand, the nature of costs and supply; market structure; international markets and income distribution. The course also explores business behavior and decision-making under various market conditions: pure competition, monopoly, oligopoly, and monopolistic competition. This course provides a practical background for students in order that they may be able to properly interpret reading material on Economics and apply the principles and theories to specific business situations. Learning objectives for each lesson are accomplished through a combination of theory and conceptual application within exercises. Students are given ample opportunity to practice, apply, and develop their economics related knowledge and skill through review questions and practical exercises. Multimedia content is incorporated in this course to introduce, discuss, and enhance the learning experience.

Course Prerequisites

Business Math, Business Essentials, Microsoft Windows Level 1, Microsoft Word Level 1, and Internet Fundamentals.

Course Notes

Course manual is provided for on-going reference. There is a final exam upon completion of the course. Participants who receive 75% or higher on their exam will receive a certificate.

Course Breakdown

Lesson 1: What is Economics?; Importance of Economics; Basic Economic Concepts and Terminology; Measures of Economic Performance

Lesson 2: Canadian Economic Structure and Trends; Measuring Canada’s Economic Health; International Comparisons; International Trade and Free Trade

Lesson 3: Macroeconomics and Microeconomics; Forms of Business Organization; Economic Considerations in Business; Product Life Cycle; Consumer Protection

Lesson 4: The Canadian Labor Force; Employment Trends in Canada; Globalization and Technology; Innovations in Technology; Labor Laws

Lesson 5: Money; Monetary Policy; Exchange Rates and the Foreign Exchange Market; Investing and the Money Market

Lesson 6: Natural Disasters; Man-Made Disasters; Indeterminate Economic Disruptions; Safeguards from Economic Disasters

Lesson 7: Understanding Forecasting; General Indicators; Government; Domestic Demand; Labor Market International Trade Manufacturing; Construction; Price; Financial Lab Exercise