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It is often wrongly concluded that economics is irrelevant to running a business. In fact, economic factors affect businesses and decision making at three levels. At the macro level, factors such as the business cycle, interest rates and exchange rates directly affect product demand and cost of production. At the market level, the type of competition determines profitability and business strategy. At the company level, efficiency principles have a direct bearing on business success, principles such as marginal analysis, opportunity cost and profit maximisation. If you ignore economic principles, you will be unable to figure out likely changes in market conditions, you will be unable to understand competitive forces and you will have little idea of how to allocate resources efficiently.

Topics covered

  • Economic concepts, issues and tools.
  • An overview of economics, demand and supply.
  • The market, economic efficiency, organisation of industries.
  • Public goods, externalities, income distribution.
  • International sector, macroeconomics.
  • Income distribution, potential output, circular flow of income.
  • A simple model of income determination.
  • An expanded model of income determination.
  • Fiscal policy, money, the central bank and monetary policy.
  • The quantity theory and the Keynesian theory of money.
  • Integration of the real and monetary sectors of the economy.
  • Inflation and unemployment, the world economy.
Benefits
  • You read on distance and can take the exam at another location in the world.
  • You will receive an international certificate from one of the world's leading universities.
  • You get a solid material.
  • You get strong support through the web.
  • You turn knowledge directly into “business in practice”.
  • You get academic credits and the benefit of the wider international studies (MBA, MSc and DBA).

 

References:

MBA education has been very stimulating and gave me the tools to apply the knowledge practically in the workplace. The flexibility to learn on distance fits perfectly with a job that involves lots of travelling.

Marie Lobéus, MBA, CFO, Hoist Technology AB

 

This training has far exceeded my expectations. Hugely inspirational speakers, good material, combined with a demanding level of education means that I can really recommend this MBA.

Henrik Jonsson, MBA Commercial Manager The Phone Hourse AB

 

More references...

+46 8-544 715 70

Profile

Manager and key persons

Level

Level 7 (according to the EU framework)

Width

About 200 hours. You will receive an international certificate from one of the world's leading universities, Heriot-Watt University. 10 ECTS (European Credit Transfer System) Credits.

Entry condition

Bachelor degree or equivalent.

Start

Distance learning starts individually.

Fee
  • SEK 13.000 excl VAT.
  • Examination fee is not included.