University of Kent - BUSB4007: Business Economics

Economics will help you understand how millions of consumers and producers make decisions, how they interact and use scarce resources, and how government and non-governmental bodies like the central bank influence and shape their interactions. You will learn how to apply microeconomic theories and tools to understand consumer and producer behaviour, resource allocation, and pricing policy, including cost and benefit analysis as well as how macroeconomic factors like inflation, unemployment, or exchange rates impact business. Throughout the module, you’ll apply economic theory to real-world situations in order to help you to make efficient decisions as a manager or as an entrepreneur.

On successfully completing the module, students will be able to:

• Explain economics for business concepts, theories, and models.
• Gather, describe, and interpret relevant empirical evidence and build arguments related to the development of business strategy and policy recommendations, including confidence in data handling.
• Interpret and apply economic principles and models to understand and examine the business and economic environment in which we live and work.
• Effectively communicate economic concepts, analysis, and recommendations orally and in writing to different stakeholders, including managers, colleagues, and investors.