Business Economics Professional
Sponsored links
What is economics about? Economics is the problem of using the available resources as efficiently as possible so as to achieve the maximum fulfilment of society's unlimited demand for goods and services. The ultimate purpose of economic endeavour is to satisfy human wants for goods and services.
The problem is that whereas wants are virtually without limit, the resources - natural resources, labour and capital (machinery) - available at any one time to produce goods and services are limited in supply. Resources are scarce. This fact of scarcity means that we must always be making choices about what to produce, how to produce it and for whom.
Decisions must be made so that these scarce resources are allocated optimally or efficiently to their end use. This implies they could not be used more beneficially elsewhere. This is the criterion economists use to judge many economic phenomenon and is the focus of our study of the economic approaches to organisations.
| Delivery: |
|
| Category: |
Further Details
Unit 1: Perspectives on the Economic Approaches to Organisation
- Introduction
- Objectives
- The economic problem
- The basic concepts
- Markets and organisations
- Information
- Summary
- References
- Further reading
Unit 2: Co-ordination through the Market Mechanism
- Introduction
- Objectives
- Determinants of demand
- Determinants of supply
- Theory of demand
- Theory of production
- Microeconomic theory
- Market failure
- Summary
- References
- Further reading
Unit 3: Organisational Co-ordination
- Introduction
- Objectives
- The firm
- Organisational co-ordination
- Organisational configurations
- Review activity
- Summary
- References
- Further reading
Unit 4: Information and Co-ordination Mechanisms
- Introduction
- Objectives
- Co-ordination and information
- Uncertainty and contracting
- Informational asymmetry
- Adverse selection and moral hazard
- Value of information
- Summary
- References
- Further reading
Unit 5: Game Theory
- Introduction
- Objectives
- Methodological backdrop
- One- and two-shot games
- Auctions
- The prisoner's dilemma: single stage
- Repeated games in the prisoner's dilemma
- Review activity
- Summary
- References
- Further reading
Unit 6: Agency Theory
- Introduction
- Objectives
- A firm's relationships
- Positive theory of agency
- Entrepreneurial firms and team production
- The firm as a nexus of contracts
- Theory of principal and agent
- The agency contract
- Second-best efficient contract
- Modifications to the principal-agent model
- Summary
- References
- Further reading
Unit 7: Transaction Cost Economics
- Introduction
- Objectives
- Markets and organisations
- An example of transaction cost economics
- Transaction costs
- Critical dimensions of transactions
- Fundamental transformation and the hold-up problem
- Organisational structures
- Complex hierarchies
- Markets and hierarchies: is that all?
- Hybrid forms of co-ordination
- Summary
- References
- Further reading
For a more detailed syllabus on this course, click here
Qualifications
On completion of your course, you will receive two qualifications:
Qualification 1: Business Economics Professional Diploma
Business Economics Professional Diploma issued by Stonebridge Associated Colleges, entitling you to use the letters SAC Dip after your name.
Qualification 2: Level 4 Business Economics Professional Award
At the end of this course successful learners will also receive a level 4 NCFE Award certificate of achievement. That means that it is independently accredited at a level of learning equivalent to level 4 on the National Qualifications Framework (NQF) for England, Wales and Northern Ireland (in which case GCSE's are at levels 1 and 2 and A Levels are at level 3).
This award has been designed by Stonebridge Associated Colleges to meet specific learners' or employers' requirements. Accreditation by NCFE is a guarantee of quality. It means that this learning programme has been scrutinised and approved by an independent panel of experienced educational professionals and is quality audited biannually by NCFE.
Study Options
This course is an online course. With online study you have access to your entire course from the start of your studies. You can access your course materials, and submit all of your question papers to your personal tutor, online from anywhere in the World using your unique student account.
If you do not have Internet access, or would prefer to study this course via the traditional paper/postal based study method, you can find more information on the course by clicking on the link below.
Fees
Information provided is for information purposes only and no guarantees are made with regards to accuracy. It is advised that all details are checked prior to making a booking. Contents © 1999 - 2012. All rights reserved.
