Business Economics
Level 4
 
Title of learning programme Business Economics
Programme level 4
Duration of learning programme 11 weeks x 10 hours*
Total number of learning hours per programme 110**

* Unlike traditional schools, colleges or universities, there are no terms, semesters, or specified intake dates for our uniquely flexible distance education courses. Our system of continuous enrolment means that our students can enrol on any day and at any time of the year. This allows our students the freedom to plan their studies to fit in with their lifestyle or work commitments.

** Please note that this is only an approximate figure and is dependant upon how much time you can dedicate to your studies and also how well you grasp the learning concepts in the course material. Furthermore, at the end of each module there is a question paper which needs to be completed and returned to your personal tutor.

Structure
 
Module Module Title
1 An Introduction to Economics
2 The Elementary Theory of Allocation
3 The Theory of Production
4 Market Structures
5   The Theory of Distribution
6   Introduction to the Macroeconomy
7   National Income Determination
8   The Role of Money and the Financial System
9   National Income Determination and Aggregate Supply
10   International Trade
 

Learning Outcomes
 
Module 1 – An Introduction to Economics.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Define Economics and summarise the basic Economic Activities
 
Module 2 – The Elementary Theory of Allocation.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Discuss how the price of a commodity is determined, why prices change and the implications of price changes
 
Module 3 – The Theory of Production.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Explain the process of converting the factors of production into good and services
 
Module 4 – Market Structures.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Summarise the theoretical knowledge developed in this unit with regards to the issue of privatisation
 
Module 5 – The Theory of Distribution.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Summarise the income factors of production
 
Module 6 – Introduction to the Macroeconomy.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Define National Income and discuss the ways it is measured
 
Module 7 – National Income Determination.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Summarise the Basic Keynesian Model of National Income Determination
 
Module 8 – The Role of Money and the Financial System.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Define money and discuss the different theories of the demand for money
 
Module 9 – National Income Determination and Aggregate Supply.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Discuss the Classical Theory of Aggregate Supply and examine the distinction between short-run and long-run aggregate supply
 
Module 10 – International Trade.
On successful completion of this module the candidate will be able to:
  Learning Outcome
LO1 Explain why countries trade and summarise how the exchange rate is quoted

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